Read Larry Connors' blog – Short Term Trading Strategies
Advanced Micro Devices (AMD | Quote | Chart | News | PowerRating) ended higher but reined in its early gain seen when Banc of America Securities lifted its rating on the issue to Neutral vs Sell this morning, according to Briefing.com.
In five analyst actions we've tracked on AMD, including today, the stock has seen its ratings-driven pre-market movement widen in the following regular session in two of those five events, narrowing in the other three.
9/8/08 Pre-Market: +4% to 6.23; 9/8/08 Regular Session: +1.8% to 6.07 - BofA raises rating to Neutral.
9/5/08 Pre-Market: decline to 5.56; 9/5/08 Regular Session: +2% at 5.96 - Merrill Lynch downgrade to Sell from Neutral
1/2/08 Pre-Market: decline to 7.36; 1/2/08 Regular Session: -4.2% at 7.18 - Banc of America downgrade to Sell from Neutral.
10/3/07 Pre-Market: -2%; 10/3/07 Regular Session: -0.4% - Morgan Stanley starts coverage with Underweight rating.
9/17/07 Pre-Market: +1.5%; 9/17/07 Regular Session: +1.7% - JP Morgan raises rating to Neutral from Underweight.
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