Apache Corp. (NYSE: APA) was downgraded twice on Thursday: cut to Neutral from Overweight by J.P. Morgan and cut to Perform from Outperform by Oppenheimer.
EBay Inc. (NASDAQ: EBAY) was cut to Neutral from Outperform by Macquarie after its earnings report and mixed guidance. Shares are indicated down 3%.
Expeditors International of Washington Inc. (NASDAQ: EXPD) cut to Underperform from Sector Perform at RBC Capital Markets.
FedEx Corp. (NYSE: FDX) cut to Underperform from Sector Perform at RBC Capital Markets.
Huntington Bancshares Inc. (NASDAQ: HBAN) was downgraded to Neutral from Buy at a firm called Compass Point, although that $8 price target still stands out above the $7.01 close on Wednesday and above the $7.55 high in the past 52-week period.
Qiagen N.V. (NASDAQ: QGEN) was initiated with a Sell rating at Citigroup.
There is a macro-market call from Citigroup’s global equities team to watch. The firm is telling customers that it is shifting its allocations to Underweight from a Neutral weighting for U.S. equities. This may seem a bit late if you have been watching our coverage on Japanese markets, but Citigroup is now telling customers that it underestimated the impact of policy changes from the Bank of Japan and it is now raising Japanese equities to Neutral from Underweight. This call feels a bit like a “Thanks for nothing” call.
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