Ceradyne takes hit as analyst downgrades stock
An analyst downgrade sent Ceradyne Inc.'s (Nasdaq:CRDN) stock down 6.6% this morning.
Wachovia Capital Markets' Gary Liebowitz downgraded the stock to "underperform" from "market perform," reportedly because one of the firm's contracts to supply body armor to the U.S. army might get delayed for a second time, potentially impacting Ceradyne's future earnings.
Costa Mesa, Calif.-based Ceradyne is trading at $41.70, down $2.95 from Tuesday's close. Shares have traded as low as $27.77 and as high as $78.92 during the past year.
For detailed price information and news stories on Ceradyne, click CRDN.
