Wedbush Morgan Downgrades Callaway Golf (ELY) to Sell
More News related to ELY
- Callaway Golf Announces Successful Completion of Private Offering of $140 Million of 7.50% Series B Cumulative Perpetual Convertible Preferred Stock; Initial Purchasers Exercise Over-allotment Option
- Callaway Golf Increases Size of Private Offering and Announces Pricing of $125 Million of 7.50% Series B Cumulative Perpetual Convertible Preferred Stock
- Unusual 11 Mid-Day Movers 6/9: MRNA, GRH, STAA, CRDC Higher; ZQK, LCAV, ELY, CRDN Lower
- Morning Movers 6/9: MRNA, STAA, MOV, SAY, FCEL, TLB Higher; CRDN, ZQK, ELY, HNBC, CBL, NAV Lower
- After-Hours Movers 6/8: MW, PBY, NVO, TXN Higher; ZQK, CBL, FNB, PLL, EPB, DGII, ELY Lower
Wedbush Morgan downgrades Callaway Golf (NYSE: ELY) from Hold to Sell. Price target lowered to $8.
Wedbush analyst says, "Lowering opinion to SELL; believe 2009 results could fall meaningfully below current Street consensus forecasts...Concerning dropoff in European momentum...Recent acceleration of launch schedule for major 2009 model year new products should detract from next year's performance."
Callaway Golf Company (Callaway Golf) together with its subsidiaries, designs, manufactures and sells golf clubs (drivers, fairway woods, hybrids, irons, wedges and putters) and golf balls.
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