Intel (INTC) downgraded on earnings guidance, AutoZone (AZO) downgraded on valuation


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Intel Corp. (NASDAQ: INTC ) shares dropped 16 cents out of the gate during the trading session on Monday following a downgrade from Lazard to "hold" from "buy." On Friday, Aug. 27, INTC issued downside guidance for its third quarter. Additionally, the company announced plans to acquire Infineon's wireless solutions business for approximately $1.4 billion ahead of the bell.

Other ratings changes on INTC include Charter Equity's downgrade of the company to "market perform" from "buy" on its third-quarter revenue revision. INTC shares were trading around $18.21 at the beginning of the session, up slightly from its 52-week low of $17.81.

AutoZone Inc. (NYSE: AZO ) shares opened around $215 on Monday following news that Morgan Joseph downgraded the company to "hold" from "buy" on valuation. AZ shares are trading up near their 52-week high of $215.21.

The company did not announce any news on Monday, and is scheduled to announce earnings figures on Sept. 21 before the market opens. Analysts estimate earnings of $5.41 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Options
More Headlines for: AZO , INTC

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Karla Yeh

Karla Yeh

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