Notable Downgrades: ConocoPhillips (COP), TriNet Group (TNET), Cognex (CGNX), On Deck Capital (ONDK), Diamond Offshore Drilling (DO)

Analysts at Oppenheimer downgraded ConocoPhillips (COP) from ‘Outperform‘ to ‘Perform‘ in a research report issued to clients on Tuesday.

Shares of the $61.33 billion market cap company are down 35.55% year-over-year 25.42% year-to-date.

ConocoPhillips, currently with a median Wall Street price target of $68.00 and a high target of $85.00, rose $0.09 to $49.80 in recent trading.
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TriNet Group, Inc. (TNET) was reiterated as ‘Buy’ with a $26 from $39 price target on Tuesday by Stifel noting this was the third consecutive quarter in which higher than expected insurance claims negatively impacted financial results. TriNet Group, Inc. reported second quarter 2015 EPS of $0.14 before the opening bell Tuesday, compared to the consensus estimate of $0.27. Revenues increased 21.90% from last year to $640 million. Analysts expected revenues of $592.61 million. The stock is currently down $10.09, or 37.70%, to $16.60 on 9.07 million shares.
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Cognex Corporation (CGNX) rating of ‘Buy’ was reiterated today at Needham with a price target decrease of $47 from $55 (versus a $44.95 previous close).

Cognex Corp. recently traded at $35.08, a loss of $9.87 over Monday’s closing price. The name has a current market capitalization of $3.06 billion.

As for passive income investors, the company pays shareholders $0.28 per share annually in dividends, yielding 0.60%. Five year average dividend yield currently stands at 1.00%.
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Shares of On Deck Capital, Inc. (ONDK) are down $2.83 to $10.55 in midday trading after Compass Point reiterated its ‘Sell’ rating and lowered its 12-month base case estimate on the name by 2 points to $10 a share.

On Deck Capital, Inc. reported second quarter 2015 EPS of $0.10 before the opening bell Tuesday, compared to the consensus estimate of $0.04. Revenues increased 78.3% from last year to $63.31 million. Analysts expected revenues of $61.91 million. The stock is currently down $2.83 to $10.55 on 2.33 million shares.
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Diamond Offshore Drilling, Inc. (DO) was reiterated as ‘Underweight’ with a price target cut of $23 from $24 at Barclays.

DO closed at $21.22 on Monday and is currently trading down $0.03.

In the past 52 weeks, shares of Houston, Texas-based contract drilling services provider have traded between a low of $20.60 and a high of $47.34 and are now trading at $21.19. Shares are down 52.89% year-over-year and 41.78% year-to-date.

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