Nokia (NOK +3.3%) has been upgraded to Outperform by Credit Suisse after being upgraded by the firm to Neutral two weeks ago. Plenty of other firms have also upgraded (I, II) Nokia since the Microsoft deal was announced.
ServiceNow (NOW +3.5%) has been upgraded to Overweight by Morgan Stanley.
Maxwell (MXWL +8.6%) has been upgraded to Overweight by Piper.
Intuit (INTU -1.5%) has been cut to Underweight by Morgan Stanley.
AVG (AVG +3.1%) has been started at Buy by Nomura.
Cogent (CCOI +0.6%) has been started at Outperform by Pac Crest.
Cognizant (CTSH +2.7%) has been upgraded to Overweight by Barclays.
Verizon (VZ) broadband subs are complaining about receiving low-quality Netflix (NFLX) streams, and the culprit appears to be Verizon's unwillingness to upgrade its network to handle more Netflix traffic from fellow carrier and Netflix bandwidth supplier Cogent (CCOI). The dispute drives home the thorny relationships Netflix, which now makes up ~1/3 of U.S. Web traffic during peak hours, has with many ISPs, in spite of its efforts to relieve congestion via its Open Connect CDN (some ISPs are on board, some aren't). In Verizon's case, the carrier's efforts to compete with Netflix via its Redbox Instant JV could also be a factor.
Cogent Communications (CCOI) declares $0.13/share quarterly dividend, 8.3% increase from prior dividend of $0.12. Forward yield 1.81%. For shareholders of record May 31. Payable June 18. Ex-div date May 29. (PR)