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The firm expects Intel (INTC) to issue second quarter guidance below Street estimates given weak PC demand. Nomura also believes enterprise PC and server demand will moderate in the second half of 2011.
The price target is lowered to $22 from $27.
Shares of Intel (INTC) are down 3.07% to $20.20 in pre-market trading after Nomura downgraded the company to Neutral from Buy.
In its downgrade, Nomura cited expected FY11 cost pressures and inconsistent sales results.
The firm had a $21 price target on company shares. That is down from $25.
Shares of The Gap (GPS) are down in pre-market trading as the company is reportedly downgraded to Neutral from Buy at Nomura.
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One of today's stocks on the move is CapitalSource (NYSE:CSE), up 1.7% to $9.52. The D ...
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Scientific Games (NASDAQ:SGMS) is one of today's biggest movers, up 1.7% to $9.16. The ...
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Banco Santander (NYSE:SAN) is one of today's notable stocks in decline, down 1.7% to $7 ...
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Osiris Therapeutics (NASDAQ:OSIR), a company whose shares are moving quickly, is tradin ...
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One of today's notable stocks on the rise is Cliffs Natural Resources (NYSE:CLF), up 1. ...
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One of today's notable stocks in decline is Cooper Tire & Rubber (NYSE:CTB), down 1.7% ...
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One of today's stocks on the move is Ultra Petroleum (NYSE:UPL), up 1.7% to $23.10. Th ...
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Up 1.7% to $18.32, JC Penney (NYSE:JCP), is one of today's notable movers. The Dow Jon ...
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
