Scientific Games (SGMS)

William Blair downgrades to market perform from outperform

Scientific Games shares were down 20% to 14.08 during afternoon trading Tuesday after reporting third quarter results. The company also announced that CEO Joseph Wright will retire at the end of the year.

William Blair analyst Ralph Schackart said Scientific Games posted third quarter reported EPS of $0.16, missing the Street's view by $0.02. Given increasing clarity in Italy and longer-than-expected time to develop the market in China, domestic re-bids a potential headwind to growth over the next two years, and surprising management changes, he downgraded the stock to market perform from outperform.

In addition, Schackart lowered 2010 EPS estimate to $0.85 from $0.92.

Cabot Oil & Gas (COG)

JP Morgan upgrades to overweight from neutral

JP Morgan analyst Joseph Allman said Cabot Oil & Gas' recurring third quarter EPS of $0.38 beat the con...

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