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MOST NOTEWORTHY: eBay (EBAY), Wells Fargo (WFC) and ASML Holdings (ASML) were today's noteworthy downgrades:
- Thomas Weisel downgraded shares of eBay (NASDAQ:EBAY) following the company's Q2 results, as they did not see an improvement in the underlying fundamentals. Goldman lowered eBay to Neutral from Buy and cut its target to $30 from $38.
- UBS downgraded Wells Fargo (NYSE:WFC) to Neutral from Buy citing valuation and reduced capital flexibility.
- Merrill downgraded shares of ASML Holdings (NASDAQ:ASML) to Underperform from Neutral as they believe the company's demand slowdown could carry into next year.
OTHER DOWNGRADES:
Foreclosures fall, but are still higher than a year ago
HP's deal for 3Com: A missile launch at Cisco?
Before the bell: Stocks to open lower despite Wal-Mart's beat
