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We're pocketing a big gain in a stock that has fought back from its earnings sell-off
We're also downgrading the stock in conjunction with the sale.
14 words~1 min read
We're also downgrading the stock in conjunction with the sale.
Get this delivered to your inbox, and more info about our products and services.

We're downgrading it back to our 2 rating, meaning we would wait for a pullback before considering adding more shares.

We're not making a call on the upcoming results, but we would like to have more wiggle room.

We're taking half of the cash raised from the sale to add to one of the portfolio's recent spinoffs.

This sale does not reflect any change to our long-term positive thesis.

The shares are down about 7% in premarket trading.

We're taking the other side of a downgrade and making good on an earlier pledge.