Alcoa, Inc. (NYSE:AA) price target was reduced from $14.65 to $8 by Dahlman Rose.
Patriot Coal Corporation’s (NYSE:PCX) bankruptcy filing has shown little impact, according to Brean Murray. The firm believes there will be a financial impact for both Arch Coal (NYSE:ACI) and Peabody Energy (NYSE:BTU) but believes there is no concern for others in the group. The firm predicts that the bankruptcy will give Patriot decreased production volumes but it will not tighten the met or thermal coal markets.
Advanced Micro Devices, Inc. (NYSE:AMD) valuation range was decreased by Wells Fargo following the company’s negative preannouncement regarding its June quarter. The firm thinks that most of AMD’s market share was lost to Intel (NASDAQ:INTC) during the quarter, but it keeps an outperform rating on the stock.
WellPoint Inc. (NYSE:WLP): Following the company’s agreement to purchase Amerigroup (NYSE:AGP), Oppenheimer views the deal as on that “creates a leading Medicaid platform primed for robust growth.” The firm keeps its Outperform rating on the stock.
Nokia Corporation (NYSE:NOK) could have a problematic Q2 due to the smartphone growth slowdown, Apple and Samsung market share gains, and a tough product transition ahead of the Microsoft Windows 8 phone, RBC Capital predicts. The firm believes that Nokia will announce an inventory write-down and claims that cash-burn is still a concern. The firm gives the shares a Sector Perform rating but drops its price target to $3.50 from $5.
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