Nov 03, 2009 (MarketNewsVideo.com via COMTEX News Network) -- This morning, Morgan Stanley downgraded the entire U.S. semiconductor sector to Cautious as the firm believes PC shipments are poised to fall on waning demand. With the sector downgrade, the firm also downgraded technology bellweather Intel (INTC) from Overweight to Equal Weight.
In morning trading, shares of Intel were trading lower, off more than three and a half percent so far.
Wedbush Morgan downgraded shares of SanDisk (SNDK) from Neutral to Underperform as recent channel checks have shown supply outpacing demand. The firm is concerned that ballooning inventories could impact margins and have reduced the price target from $24 per share down to $17.
Shares of SanDisk were falling in morning trading, off more than three and a half percent following the downgrade.
And Goldman Sachs downgraded shares of Affiliated Managers Group (AMG) from Buy to Neutral as the firm sees better opportunities in the sector. Analysts at the firm see better upside potential in asset managers like Blackrock (BLK) and the Blackstone Group (BX), both with Conviction Buy ratings at Goldman Sachs.
In morning trading, shares of Affiliated Managers Group fell by about three and a half percent following the move by Goldman Sachs.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200911Downgrades110309&mv=1.
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