Apple (NASDAQ:AAPL) had its price target and earnings estimates reduced by Jefferies (JEF) as checks of supply channnels indicate that sales for the first quarter may be lower, and that new product launches could be pushed into the third quarter. A $420 price target was set.
Shares are lower by about 1.6 percent.
Cadence Design Systems (NASDAQ:CDNS) was downgraded by D.A. Davidson to neutral as the Tensilica acquisition threatens to drain the company's cash position and carries a hefty price.
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