Stock Market Alert : Major Stock Downgrades (MIPS, AZO, XOM, MMM)

MIPS Technologies, Inc. (NASDAQ:MIPS) shares fell 1% to $0.52 after it was downgraded at Capstone Investments to Hold from Buy.

You can Subscribe to these Free Stock Alerts by visiting:  http://www.PennyStockPickReport.com

Capstone analyst says, "We recently hosted investor meetings with MIPS management during mid-Aug. We felt meetings described a business returning to prior royalty model, with opportunities to expand current end markets. In our opinion, we don't believe anything was mentioned which would have implied some potential meteoric near-term rise in earnings. We believe operating metrics remain positive, but don't see any one near-term driver which likely supports recent move in share price."

AutoZone, Inc. (NYSE:AZO) shares also downgraded by Goldman Sachs from Neutral to Sell, citing the outstanding performance has been fairly priced by the market.. The firm revised their price target from $211 to $213.

Goldman also said the EBIT margin opportunity is limited from here and any upside to estimates will not drive a breakout in the shares.

Shares of AZO are down 1.88% at $213.80.

Exxon Mobil Corporation (NYSE:XOM) shares are down over 0.52% to $60.88 after analysts at Deutsche Bank rerated the stock to Hold from Buy earlier and also reduced its price target on the stock by $5 to $65.

The firm argues that not only will Exxon struggle with the integration of its XTO integration, it is also concerned with a "fundamental over-supply" in the nat-gas market going all the way out til 2015. Deutsche Bank notes that while Exxon recently provided details of its XTO deal, updates came in as "only vague outlines of how much costs can be lowered.

You can Subscribe to these Free Stock Alerts by visiting:  http://www.PennyStockPickReport.com

3M Company (NYSE:MMM) rose 1.13% to $84.89 despite analysts at Goldman Sachs removing 3M Company from its Conviction Buy List, but is maintaining a Buy rating. The firm set a price target of $104

The firm sees better upside in Cummins (CMI), which was added to the list today.

The firm continue to believe 3M is positioned to exceed consensus EPS estimates on re-invigorated organic revenue growth resulting from new products, share gains and above-average emerging market penetration as well as its strong balance sheet.

About http://www.PennyStockPickReport.com

Penny Stock Pick Report offers stock market alert on OTC, PINKSHEETS ,OTCBB, AMEX, NASDAQ and NYSE stock exchange. Our subscribers receive daily up to date stock information on hot stocks, most active movers, top gainers, penny stocks and much more. If you wish to feature your organization on our website then you can contact us at the email given below.