Pompano Beach, FL -- (SBWIRE) -- 09/26/2012 -- SanDisk Corporation (NASDAQ:SNDK) fell 3.19% to $42.49 after the chipmaker's stock was downgraded to market perform from market outperform by JMP Securities. In a note, analyst Alex Gauna cited "weakness in computing trends and supply constraints."
Shares of SanDisk have risen more than 17% over the last three months, but are down 13% year-to-date.
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Google Inc (NASDAQ:GOOG) moved down 0.49% to $745.48 on over 2.17 million shares after Canaccord Genuity raised its price target to $850 from $700. Analyst Michael Graham argued in a note that the stock "can continue its recent momentum," citing several factors, including "better cost-per-click trends creating an upward bias to revenue estimates" and the "dissipation" of worries of the impact of its acquisition of Motorola Mobility.
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Jabil Circuit, Inc. (NYSE:JBL) lost 9.49% to $18.98 on a traded volume of 5.18 million shares. The company reported a fiscal fourth-quarter profit of $82.8 million, or 39 cents a share, compared with earnings of $114.3 million, or 52 cents a share, in the same period a year ago. Revenue for the electronics contract manufacturer was flat at $4.3 billion.
Analysts surveyed by FactSet had forecast Jabil to earn 58 cents a share on $4.23 billion in sales. For its fiscal first quarter, Jabil forecast earnings excluding one-time items of 51 cents to 62 cents a share, on $4.3 billion to $4.5 billion.
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Caterpillar Inc. (NYSE:CAT) went down 0.98% to $86.16 on a traded volume of 3.20 million shares as the company yesterday projected 2015 earnings of $12 to $18 a share based on estimated revenue of $80 billion to $100 billion.
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Intel Corporation (NASDAQ:INTC) added 0.02% to $22.54 on a traded volume of 16.05 million shares as Caris & Co. analyst Craig Ellis trimmed his ratings on Intel to above average from buy.
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