SunPower Corporation (SPWR) fell today after Brean Capital downgraded the solar company from Buy to Hold. Brean Capital has downgraded SunPower on the basis of high valuations, arguing that the company was trading at a multiple of 21x for its estimated earnings of 2015.
Aegerion Pharmaceuticals, Inc. (AEGR) posted disappointing earnings in after-hours Thursday, leading many analysts to downgrade the stock the following morning. Investment banks such as JPMorgan Chase & Co.
Coty has selected Bank of America Merrill Lynch and JPMorgan Chase as the lead underwriters for its initial public offering, days after the cosmetics maker withdrew its $10.7 billion takeover bid for Avon.