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MOST NOTEWORTHY: EMC Corp, Emulex, VCG Holding and Conexant were today's noteworthy downgrades:
- Citigroup downgraded shares of EMC Corp (NYSE: EMC) to hold from buy and Emulex (NYSE: ELX) to sell from buy and lowered its targets to $17 from $22 and to $12 from $20, respectively, to reflect their more cautious stance on the storage space after channel checks indicated a broadly softening demand environment, most notably for 'higher ticket' items.
- Merriman downgraded shares of VCG Holding (NASDAQ:VCGH) to neutral from buy following the Q4 miss, as they believe acquisitions could slow in the near-term. They prefer to move to the sidelines until the company's outlook improves.
- Oppenheimer downgraded Conexant (NASDAQ: CNXT) to perform from outperform as they believe the CEO departure could interrupt the company's turnaround.
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Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
