Bank of America Downgrades STMicroelectronics To Neutral

Bank of America downgraded STMicroelectronics NV (ADR) STM from Buy to Neutral. STMicroelectronics shares have dropped 17.16 percent over the past 52 weeks, while the S&P 500 index has surged 13.21 percent in the same period. STMicroelectronics' shares fell 1.03 percent to $7.69 in pre-market trading.