Pullback Seen as Buying Opportunity
ARM Holdings was upgraded to "buy" from "neutral" at UBS, which said little has changed in the company's business prospects despite its big pullback in the stock price. Growth opportunities in the networking and mobile spaces were also cited. ARMH climbs 2 percent before the opening bell on my tradeMONSTER platform.
Two-Notch Downgrade for Overstock.com
Overstock.com was downgraded two notches at Bank of America Merrill Lynch. The new rading is "underperform," down from "buy" previously. OSTK drops 4 percent in early trading.
S&P Lowers Ratings on Euro Banks
Credit Suisse saw its credit rating cut to A from A+ by Standard & Poor's, which said new regulations might hurt profitability. Deutsche Bank and Barclays were also cut. CS declines 3 percent in the premarket, DB is down 2 percent and BCS is falling by 1 percent.
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