Dolby (DLB -1.4%) slumps after receiving a downgrade to Underweight from JPMorgan's Paul Coster,...

|About: Dolby Laboratories, Inc. (DLB)|By:, SA News Editor

Dolby (DLB -1.4%) slumps after receiving a downgrade to Underweight from JPMorgan's Paul Coster, who thinks business will be ugly through 2013. Coster notes sales are weak for PCs, TVs, and other consumer electronics products Dolby collects royalties on, with smartphones the only major exception. Eric Savitz notes the downgrade follows warnings from Rovi and DTS, who also license their technology to electronics OEMs. Goldman is also bearish on Dolby.