In Monday's Analysts' Actions, Oracle (ORCL) was hit with a downgrade at one Wall Street firm and analysts made some negative comments on 3D Systems (DDD) and Honeywell Int'l. (HON). KeyBanc Capital Markets lowered Oracle's rating to SECTOR WEIGHT from OVERWEIGHT. Analysts said, 'As Oracle moves to the cloud, there could be more volatility in its model.' This transition may be challenging even if it's the right way to go long-term. As a result, there's limited upside. The firm dropped its 2016 earnings estimate to $2.56 from $2.70. In another note, Jefferies reduced 3D Systems' price target to $12 from $13, citing a soft third quarter. Analysts maintained their HOLD rating on the stock. The company that sells 3D printers is aware of its issues with resellers and product reliability. Given these risks, the company may need a longer time to fully turn around. Similarly, the same firm cut Honeywell International's price target to $115 from $118 but is still keeping its BUY rating. Given a tough business environment, the industrial conglomerate is performing well, and analysts said in 2016, there may be more acquisitions. On top of that, its aerospace connectivity business will grow, but some risks include an 'an aborted U.S. economic recovery' or a deceleration in high growth regions. TheStreet's U-Jin Lee reports in New York.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.