Afternoon Buzzers: Netflix Jumps on Upgrade, Facebook Sinks After Downgrade

Shares of Netflix (NASDAQ:NFLX) jumped more than 10 percent today. The online entertainment company received an upgrade to Overweight from Equal-weight at Morgan Stanley (NYSE:MS) with a price target of $85. The bank explains, “Our upgrade is based on our view that (NASDAQ:AMZN) is not a direct threat to Netflix’s U.S. business. We believe the primary driver of content revaluation was Netflix’s own success. Netflix is poised to leverage its domestic cost structure and potentially become the global video platform.”

Apple (NASDAQ:AAPL) shares fell over 2 percent this afternoon, despite reports indicating that the company is ordering up to 10 million units of a highly anticipated iPad Mini for the fourth quarter. However, Bloomberg reports that Foxconn, an Apple supplier in China, had to stop production for the second time in only a couple weeks due to employee protests.

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UnitedHealth Group (NYSE:UNH) shares attracted attention on Monday. The company announced it would purchase a 90 percent stake in Amil Participacoes SA, Brazil’s largest health insurer and hospital operator, at a cost of $4.9 billion.”Brazil’s growing economy, emerging middle class and progressive policies toward managed care make it a high- potential growth market,” UnitedHealth Chief Executive Stephen Hemsley explained in a statement.

Shares of Facebook (NASDAQ:FB) dropped more than 1 percent today. The company received a downgrade to Sell from Neutral by BTIG with a price target of $16. BTIG explains, “We see a growing tension between the Facebook user experience and monetization, particularly as the collapse of payment revenues has left Facebook with only one major lever to pull – advertising.”

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