Lower Close After Sell-Off In Chinese Market
On the upside
Robert W. Baird & Co. analyst Jeff D. Johnson upgraded Varian Medical Systems (NYSE: VAR) citing improving demand.
Speculation that Sequenom (Nasdaq: SQNM) may report positive test results for its prenatal Down Syndrome test lifted shares of the genetic analysis products maker.
An analyst raised the price target for J. P. Morgan (NYSE: JPM) to $48 from $40.
On the downside
Raymond James & Co. analyst Buck Horne downgraded Standard Pacific (NYSE: SPF) citing valuation concerns.
A Barron's article suggested that Citigroup's (NYSE: C) stock price is too high.
Fannie Mae (NYSE: FNM) announced that it will sell $1 billion worth of three month benchmark bills and $1 billion worth of six month bills.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks lost 7 points to 572.
