Auto Trader Group: Berenberg upgrades to hold with a target price of 365p.
WPP: Berenberg downgrades to sell with a target price of 1,075p.
Investors do not like write-downs, particularly on goodwill, nor falling profits, especially when your company's share price is at half the level that it was at when you joined.
FirstGroup shares tumbled on Tuesday after private equity group Apollo Management said it would not be making an offer for the transport operator.
FirstGroup said late on Wednesday that it had received a "preliminary" and "highly conditional" indicative proposal from private equity firm Apollo Management, but that this was unanimously rejected.
Ocado: JP Morgan downgrades to neutral with a target price of 505p.
Transport operator First Group dropped its full-year earnings guidance on Wednesday after its coach and bus units in the US were hindered by severe snowstorms across North America throughout January and an increasing level of competition from budget airlines such as Spirit.
Commuters are bracing for the biggest fare rise in five years, as the Rail Delivery Group confirms the annual January increase will see ticket prices rise by an average of 3.4% from 2 January.
FirstGroup welcomed a new strategic vision for the Great Western rail network from the Department for Transport on Wednesday, with the DfT confirming it would exercise its option to extend First's franchise in the region by one year, to 1 April 2020.
GlaxoSmithKline: UBS upgrades to Buy with a target price of 1550p.
TalkTalk: RBC downgrades to Sector Perform with a target price of 190p.
Passenger transport operator FirstGroup updated the market on its overall trading in the first half on Tuesday, saying it was "consistent" with plans it outlined at start of the financial year with "strong" cash performance in addition to inflows from the recent start of its South Western Railway joint venture.
Nex Group: JPMorgan initiates at Neutral with a target price of 650p.
Less than two weeks into its stewardship of the South West franchise, the FirstGroup-MTR consortium is facing the threat of strike action over the role of guards on its trains.
Amec Foster Wheeler has been put under formal investigation by the Serious Fraud Office as part of a bribery and corruption investigation casting fresh doubts over its proposed £2.2 billion merger with Wood Group. In a statement to investors after the market had closed, Amec said that it had been told by the SFO that an investigation had been opened into the "past use of third parties and possible bribery and corruption and related offences". - The Times
A number of London-listed, privately held and foreign companies were celebrating early success in two rail franchise tenders on Thursday, as the Department for Transport published the shortlists for two busy routes.
For the best part of a decade, Greece has wanted to become a "normal" country, and late on Thursday it appeared to begin that process, after creditors agreed to disburse 8.5bn (£7.4bn) of bailout funds aimed at putting the debt-stricken nation back on the road to recovery. The money, signed off after months of disagreement between the European Unionand International Monetary Fund over how to reduce Athens' staggering debt pile, will be released in July, once European parliaments ratify the deal. - Guardian
Barclays: JPMorgan upgrades to Overweight with a target price of 240p.
Passenger transport operator FirstGroup published its preliminary results for the year to 31 March on Thursday, describing a "significant improvement" in operating results, though the lack of a dividend announcement saw its shares slide through the morning.
Halfords: Numis upgrades to Hold with a target price of 360p.