Analyst Downgrades: Oracle, Spirit Airlines, Micron Technology

Analysts are weighing in today on tech titan Oracle Corporation (NYSE:ORCL), airline stock Spirit Airlines Incorporated (NASDAQ:SAVE), and semiconductor concern Micron Technology, Inc. (NASDAQ:MU). Here's a quick roundup of today's bearish brokerage notes on ORCL, SAVE, and MU.

• ORCL is getting smacked ahead of the open, pointed 5.7% lower, after the company reported fiscal fourth-quarter earnings that missed the Street's expectations. Analysts have displayed their displeasure, with no fewer than six brokerage firms reducing their price targets on the shares. Wedbush set the lowest mark at $40, and reaffirmed its "neutral" opinion. After churning between $42 and $45 for most of 2015, Oracle Corporation closed yesterday at $44.91 -- just below its year-to-date breakeven mark. There's a good chance option traders are disappointed this morning. ORCL's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.21 is higher than 81% of readings from the past 12 months.


• Credit Suisse and Barclays both weighed in on several airline stocks overnight. For SAVE, the former cut its outlook to "neutral," while lowering its price target to $69 from $75, and the latter reduced its price target by $7 to $98. The shares are now 1.5% lower in electronic trading. Taking a step back, the stock's been getting hammered since touching its all-time best of $85.35 on Dec. 8, giving back close to 27% to settle yesterday at $62.42. It appears speculators are well-positioned for the pullback, though, as put buying has been popular recently. Spirit Airlines Incorporated's 10-day ISE/CBOE/PHLX put/call volume ratio stands at 1.04 -- higher than 81% of readings from the past year.


• MU has dropped more than 30% in 2015, and it doesn't look like things will get better any time soon. Since yesterday's close, Raymond James, Stifel, and Susquehanna have all lowered their price targets, with the latter setting its mark at $36 -- the lowest among the bunch. Micron Technology, Inc. finished Wednesday at $24.48, representing an almost 34% discount to its average 12-month price target of $36.93. Considering this, plus the fact that 79% of analysts still rate the stock a "buy," MU may see additional bearish notes in the near future. Elsewhere, the company will release earnings a week from tonight.