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Schaeffer's Sentiment Snapshot: Corn Products International, Inc. (CPO)

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  Published in House and Home on Friday, January 16th 2009 at 8:56 GMT, Last Modified on 2009-01-16 08:57:17 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--In pre-market activity this morning, the shares of agricultural concern Corn Products International, Inc. (NYSE: CPO) were hit with a downgrade. More specifically, Deutsche Bank slashed its rating on the Illinois-based firm to "sell" from "hold." The bearish brokerage note comes on the heels of a downgrade yesterday, with Davenport reducing its rating on the shares to "hold" from "buy."

As a result of the news, the shares of CPO gapped lower right out of the gate this morning, falling almost 5% to flirt with the 26.55 level. Should its early losses extend to the closing bell, the stock is now positioned to close the session beneath double-barreled support at its 20-day and 50-day moving averages for only the second time since late October 2008.

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