Yesterday QCOM increased their guidance. Today Qualcomm downgraded to Underperform at Calyon (Source Breifing.com). Now you know who was selling all-day yesterday. These thugs should be reported to SEC. It's happening almost daily now. That's why stocks that open up on upgrade or increased guidance hardly moves and goes down the very next day. Sell on an upgrade and buyback on an downgrade next day. New way of making money, the hedge funds have discovered. Investors can't even trust the company. These shorts make everything so complicated. All these research firms and analysts are thugs!!!
lambster is right. Calyon saw this one getting away from them so downgraded in hopes of grabbing some shares before the ride. It's pretty transparent. Just take the opportunity to pick up some shares along with them.