Avago Technologies Ltd. (NASDAQ: AVGO) was downgraded to Neutral from Buy at Citigroup.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) was raised to Outperform from Perform by Oppenheimer.
Caterpillar Inc. (NYSE: CAT) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Crocs Inc. (NASDAQ: CROX) was downgraded to Neutral from Buy at Goldman Sachs.
Facebook Inc. (NASDAQ: FB) was upgraded at several firms after the social media giant blew out earnings. Estimates have been raised at numerous firms and outright upgrades were seen from JMP Securities, BTIG (boutique) and Evercore. Facebook shares are up 26% at $33.50 in active trading.
Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Market Perform from Outperform at Wells Fargo.
Ford Motor Co. (NYSE: F) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
Northrup Grumman Corp. (NYSE: NOC) was raised to Neutral from Underperform at BofA/Merrill Lynch.
Sequenom Inc. (NASDAQ: SQNM) is down more than 30% after a ghastly warning over collections and reimbursements. Lazard downgraded it to Neutral and William Blair downgraded it to Market Perform.
WellPoint Inc. (NYSE: WLP) was downgraded to Neutral from Buy at Citigroup.
We have two issues happening at the major money center banks. First is that they are now almost all at premiums to book value, and the other issue is that Deutsche Bank just raised its targets on all of them.
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