ARM (ARMH) -5% thanks to a a downgrade to Equal-weight from Morgan Stanley. "It will be difficult for news flow to improve from here, and ARM could still lose sockets here and there," the firm writes: it thinks expectations of mobile computing, micro-server, and telecom infrastructure share gains, and of higher royalty rates thanks to the adoption of its big.LITTLE architecture, are priced in. Piper downgraded ARM yesterday, but shares closed higher nonetheless.
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