This morning JP Morgan (NYSE:JPM) downgraded shares of Saks Inc. (NYSE:SKS) to neutral from overweight. Yesterday over 40 million shares of Saks were traded with shares up $1.30 on buyout rumors.
Today shares are trading lower by 3.4%.
Morgan Stanley (NYSE:MS) downgraded shares of Valley National Bancorp (NYSE:VLY) to underweight from equal weight. Shares of Valley National are down 1.1%.
Credit Suisse (NYSE:CS) downgraded shares of Advanced Semiconductor (NYSE:ASX) to neutral from outperform. Despite the downgrade, shares are up 0.6% today.
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