EdgeWater 10/25/2010 10:48:28 PM
News / Business

Notable Stock Downgrades (LEG, KWK, MSFT, Genpact, WIT)

Notable Stock Downgrades

Leggett & Platt, Inc. (NYSE:LEG) dropped 1.62% to $20.67. Stifel Nicolaus downgraded the stock from Buy to Hold.

Over the past 52-week, the stock had traded within the range of $17.89-$25.15 and is up more than 1% year-to-date. Over the past five trading sessions, the stock went down more than 13%.

Quicksilver Resources Inc (NYSE:KWK) went up 0.59% to $15.29. This morning, Howard Weil downgraded Quicksilver Resources from Market Outperform to Market Perform.

The stock opened at $14.90 and has a 52-week range of $10.53-$16.59. In the past one month of trading sessions, the stock went up more than 22%.

Microsoft Corporation (NASDAQ:MSFT) slid 0.58% to $25.23 on about 1.83 million shares. The stock was downgraded to Market Perform from Outperform by FBR Capital.

Also, an analyst at Pacific Crest has also downgraded shares of Microsoft. The firm now rates the tech bellweather a Sector Perform, down from Outperform previously.

The stock went down more than 18% year-to-date.

Genpact Limited (NYSE:G) fell 4.19% to $16.23. BofA/Merrill Lynch downgraded Genpact Ltd. from Buy to Underperform rating. The price target was also lowered from $18.50 to $15.

Over the past 52-week, the stock had traded within the range of $11.54-$18.71 and is up more than 6% year-to-date. Over the past five trading sessions, the stock went down more than 11%.

Wipro Limited (ADR) (NYSE:WIT) dropped 3.44% to $14.88. Credit Suisse downgraded Wipro Ltd. from Outperform to Neutral.

Over the past five trading sessions, the stock went down more than 9%. At current market price, the market capitalization of the company stands at $36.45 billion.

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