JC Penney (NYSE:JCP) was downgraded by Credit Suisse (NYSE:CS) to underperform from neutral with a price target of $15 as management has been trying to turn the business around but does not yet have a strategy that has proven itself.
Shares are lower by about 10.8 percent.
Vertex Pharmaceuticals (NASDAQ:VRTX) was downgraded by Credit Suisse (NYSE:CS) due to lower sales of Incivek. A $48 price target was issued with a neutral rating.
Shares are lower by about four tenths of a percent.
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