Movers: Capital One, Gemstar-TV Guide, Palm, Synopsys
Merrill Lynch downgrades credit card companies Capital One Financial (COF), American Express (AXP), and Discover Financial Services (DFS) to sell from neutral; it believes deterioration in consumer credit and spending will continue to undermine fundamentals of each and lead to share price declines. Morgan Stanley reportedly downgrades Capital One to underweight from overweight.
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