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MOST NOTEWORTHY: Yahoo! was today's noteworthy downgrade:
- Yahoo! (NASDAQ: YHOO) was downgraded to Sell from Accumulate at ThinkPanmure as they value the company at $20 on a standalone basis. The price target lowered to $20 from $31.
- Yahoo was also downgraded to Sell from Buy at Citigroup based on Microsoft (NASDAQ: MSFT) withdrawing its bid for the company. Target was reduced to $26 from $34.
- Yahoo was also downgraded to Sell from Accumulate, target $20 at ThinkPanmure.
- Yahoo was downgraded to Sell from Hold at Soleil with a $22 target as they do not believe Yahoo can re-attain the $33 a share that Microsoft offered through execution alone.
OTHER DOWNGRADES:
- PeopleSupport (NASDAQ: PSPT) was downgraded to Market Perform at JMP Securities on valuation, and because they are increasingly concerned about the long-term safety of the company's J.P. Morgan Chase credit card contract. The firm downgraded the shares from Market Outperform.
- Skyworks (NASDAQ: SWKS) was downgraded to Accumulate from Buy at ThinkPanmure following checks that indicate some "inventory digestion" at a couple of its key OEM customers, which could put estimates at risk
Where have all the consumers gone?
Yahoo! soars on report that former AOL CEO wants to buy
What ever happened to GE?
