This morning, Barclays downgraded shares of Hudson City Bancorp (NASDAQ:HCBK) from overweight to equal weight following weaker than expected earnings from the company. Furthermore, Barclays believes the dividend could be cut in the near future leading them to reduce their price target to $13 per share.
In morning trading, shares of HCBK were lower, falling 2.9% so far.
Piper Jaffray downgraded shares of Rackspace (NYSE:RAX) from buy to neutral citing valuation. The stock has climbed more than 30% since the beginning of November and has surpassed the firm's $29 price target.
On the news, Rackspace shares tumbled, falling 8.3% on Thursday morning.
And BMO downgraded shares of QLogic (NASDAQ:QLGC) from outperform to market perform as sales growth is expected to slow at the company. With the downgrade, BMO set its price target at $19 per share.
In morning trading, shares of QLogic were lower, falling 2.7% following the news.
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