Citi gains on Goldman upgrade; Altera up on Intel deal; Pier 1 falls
Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Pier 1 Imports
A downgrade took down shares of Pier 1 Imports (PIR). Wedbush Securities cut the retailer back to 'Neutral' after upgrading it to 'Outperform, less than two months ago. The firm believes Pier One's efforts to drive sales with heavy promotions will hurt future profits.
Altera
Altera (ALTR) surged on a done deal to sell itself. Intel (INTC) agreed to buy the smaller rival for $54 a share, that's more than 10% above Altera's closing price on Friday. The all-cash deal comes after months of negotiations between the two chipmakers.
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Citigroup
A bullish call on Wall Street pushed Citigroup (C) higher. Goldman Sachs (GS) upgraded the stock to 'Buy' from 'Neutral'. The firm also raised its price target by $4 to $6 a share, suggesting a 13% upside from its last closing price. The analysts at Goldman said it was a valuation call.