This morning, Citigroup downgraded shares of Eaton Vance (NYSE:EV) from hold to sell as income from fees is expected to be lower over the coming quarters. In the report, Citigroup lowered its EPS estimates and set a price target of $23 per share.
In morning trading, shares of Eaton Vance were sharply lower, losing more than 4% so far today.
Morgan Stanley lowered its EPS estimates on shares of Brocade (BRCD) through 2012 as demand weakens. The firm is not confident that Brocade will right its ship, though it does maintain its equal weight rating given the current stock price.
Shares of BRCD were falling on Thursday, losing 5.6% and drifting below the $5 mark.
And Barclays reduced its EPS estimates on shares of Transocean (NYSE:RIG) through 2011 as rig utilization rates have fallen as of late. However, despite the soft earnings outlook for the company, Barclays maintains its overweight rating on the stock and its $70 price target.
Shares of Transocean were lower on the news, losing a little more than 1% today.
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