Stock Trading Alert on Major Stock Downgrades (DGIT, HPQ, RAX)

DG FastChannel Inc. (NASDAQ:DGIT)  shares rose 4.10% to $15.73 despite it was downgraded at Craig-Hallum to Accumulate from Buy.

The median Wall Street price target on the stock is $38 and the high target is set at $46 with majority of analysts have a Buy rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $34.27 and $35.55 respectively.

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DG FastChannel, Inc. (DGF) is a provider of digital technology services, which enables the electronic delivery of advertisements, syndicated programs, and video news releases to broadcasters, online publishers and other media outlets.

Hewlett-Packard Company (NYSE:HPQ) shares also downgraded by First Global to “Moderate Underperform”. Shares of HPQ are up 0.04% at $38.58.

The firm note that the PC market continue to remain choppy, with enterprise strength offset by consumer weakness. The firm also said there exists a possibility of a slowdown in tech spending due to U.S. economic uncertainty and Europe's debt crisis.

Hewlett-Packard Company (HP) is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the government, health and education sectors.

Rackspace Hosting, Inc. (NYSE:RAX) shares are down over 2.80% to $19.82 after analysts at Benchmark rerated the stock to Hold from Buy earlier.

Benchmark analyst says, "The stock is up recently due to acquisition activity, specifically the cloud-driven bidding war for 3PAR (NYSE: PAR). While RAX is a possible takeover target, potential acquirers have alternatives and we have no reason to believe a sale is imminent. Given a weakening economy and a volatile stock, we believe the risk/reward has turned neutral."

Rackspace Hosting, Inc. (Rackspace Hosting) operates in the hosting and cloud computing industry. The Company offers its products under the Fanatical Support brand. The Company’s services are sold to businesses in more than 120 countries.

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