Stocks Shake Losing Streak, Downgrade Nails Netflix Videos
Stocks started higher this morning as traders seek to break a 3 day losing streak to start the year. Convergys shares are up over 20% this morning after the company announced it plans to buy Stream Global Services for $820 million in cash. Meanwhile, UBS was busy on the ratings front, upgrading Splunk and Workday to buy from neutral. UBS also downgraded Check Point Software to neutral from buy. Elsewhere, Morgan Stanley's analyst downgraded Netflix to underweight from equal weight citing increased competition in the video-streaming market.
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