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Aeroflex (ARX -8.1%) takes a hit after Morgan Stanley cuts the stock to underweight. Morgan says...

Aeroflex (ARX -8.1%) takes a hit after Morgan Stanley cuts the stock to underweight. Morgan says defense spending cuts pose an elevated risk to earnings in 2012, and the company isn't likely to meet earnings guidance in the second half. The firm is also lowering its 2012 EPS estimate to $0.99 from $1.12.
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