Stock News on Major Stock Downgrades (NOK, GSK, BKS, DLB)

Nokia Corporation (ADR) (NYSE:NOK) shares fell 1.51% to $9.79 after it was downgraded at Citi to Sell from Hold. Price target has been reduced by $0.50 to $4.50.

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Today's downgrade comes amid several press releases from Nokia earlier. First, Nokia provided details as to how it will connect the "next billion" people to the Internet and, a little later, announced that it has formed a global marketing alliance with Intuit (Nasdaq: INTU).

GlaxoSmithKline plc (ADR) (NYSE:GSK) shares also downgraded by Jefferies & Co from Buy to Hold.

The median Wall Street price target on the stock is $43.17 and the high target is set at $45.33 with majority of analysts have a Hold rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $37.54 and $36.67 respectively.

Shares of GSK are down 0.15% at $39.71.

Barnes & Noble, Inc. (NYSE:BKS) shares are down over 2.21% to $15.52 after analysts at BofA/ML Downgrades rerated the stock to Underperfom from Neutral earlier.

The median Wall Street price target on the stock is $15 and the high target is set at $15with majority of analysts have a Hold rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $14.86 and $18.04 respectively.

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Barnes & Noble, Inc. (Barnes & Noble) is a bookseller. The Company is a content, commerce and technology company that provides customers access to books, magazines, newspapers and other content across its multi-channel distribution platform.

Dolby Laboratories, Inc. (NYSE:DLB) fell 1.80% to $54.28 after analysts at analysts at Miller Tabak downgrded the stock to Neutral from Buy earlier and also set a price target on the stock of $63.

Miller analyst says, "We are reducing our rating on DLB on continued PC shipment data headwinds that would appear to be smoothing out into the future the much-anticipated enterprise PC replacement cycle that otherwise could have been driving nearer-term revenue and EPS surprises. Chip and screen makers that supply the PC & TV manufacturers have been pulling in their guidance in a host of investor updates recently."

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