Standpoint Downgrades ADM, FLR and ADBE

Standpoint Research is downgrading Archer Daniels Midland ADM from Buy to Hold, Flour FLR from Buy to Hold, and ADOBE ADBE from Buy to Hold. Standpoint still sees value in each of the names but do not think they can out-perform the market going forward as they have recently. ADBE has run up 25% since the June 30 recommendation, FLR has run up 20% since July 1 and ADM has run up 30% since June 7. ADBE is trading slightly higher today about $32.40 ADM is trading slightly lower on the day around $32.25 FLR is trading slightly down today around $48.90