Thursday December 11, 03:08 PM
STOCKS NEWS US-Citi cuts view on supply chain sector again
Stocks on the move Real (Frankfurt: BJU.F - news) -Time Equity news
U.S. stock market report
0948 ET 11Dec2008-Citi
lowers view on supply chain companiess again ------------------------------------------------------------------------------
Citi on Thursday cut its December quarter and 2009 estimates for supply chain companies for the third time in three months, citing a weakening macro environment, falling utilization rates and compressing margins.
'We are increasingly concerned that original equipment manufacturers customers are set to pull manufacturing back in-house in order to offset falling utilization rates at their own facilities,' the firm wrote.
Citi downgraded Jabil to sell, saying that the company was 'particularly at risk given the depth of the manufacturing capabilities at several of the company's largest customers.'
Shares of Jabil slid 4.1 percent to $6.53 on Thursday.
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