Stocks pared losses after news the pace of growth in the services sector picked up last month, although the market was still struggling with news that job growth in May was far more anemic than expected by economists who had already lowered their forecasts after a spate of weak economic news.
The Dow Jones Industrial Average sank more than 70 points, after tumbling more than 140 points at the open, a day after a choppy sessionthat ended with the blue chip average down about 40 points.
Here are six stocks that are on the move:
The telecommunications equipment company was upgraded to overweight from equal-weight at Barclays Capital. The firm also raised the price target from $28 to $33.
The shipping transportation services company was downgraded to neutral from buyat Goldman Sachs.
The apparel retailer was initiated a buy at Jefferies with a $28 price target.
The household product company was cutting its earnings and sales expectations for the year, blaming a weak economy and a rise in costs.
Peet's Coffee & Tee
The specialty coffee roaster's full year earnings estimates were raised by Stifel Nicolaus, citing better than expected packaged coffee sales. Price targets were also raised to $60 from $48.
The discount retailer was downgraded to neutral from outperform at Credit Suisse.
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