This morning, Citigroup lowered its EPS estimates on shares of Archer Daniels Midland (NYSE:ADM) through 2013 as the company's ethanol unit could be a drag on earnings in the near term. In the report, Citigroup maintained its neutral rating and its $29 price target.
Shares of ADM were lower by 1% in early trading.
Needham downgraded shares of Synnex (NYSE:SNX) from Strong Buy to Buy as weak consumer spending could pressure pricing. With the downgrade, Needham set a $40 price target on the stock.
Shares of SNX were lower on Wednesday, falling 3.6% so far.
And Canaccord downgraded shares of Marvell Technology (NASDAQ:MRVL) from buy to hold as market share is declining. With the downgrade, Canaccord set a $9 price target.
Shares of Marvell were lower by 2.3% this morning, trading right above the $9 price target.
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