This morning, JP Morgan downgraded shares of Staples (SPLS) from overweight to neutral as secular pressures are mounting within the sector. With the downgrade, JP Morgan set a $15 price target. Shares of Staples were lower by 0.9% on the news.
Oppenheimer downgraded shares of OmniVision (OVTI) from outperform to perform as competition within the sector could result in lower margins for the company. Shares of OmniVision were sharply lower on Friday, falling more than 15% so far.
And UBS reduced its EPS estimates on shares of Apache (NASDAQ:APA) following the announcement that the company had sold certain Egyptian assets. In the report, UBS set a $90 price target. Shares of Apache were higher by 7.5% on the news.
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