AT&T Shares Are Down 2% After Downgrade By Cowen & Co, UBS (T,AAPL)

AT&T (NYSE:T) shares are trading 1.99% lower at $27.58 after being cut to neutral from outperform at Cowen & Co. and to neutral from buy at UBS AG, according to a Bloomberg report.

The company is about to lose its exclusive hold on Apple (NASDAQ:AAPL) iPhone in the U.S.

AT&T has a potential upside of 14% based on a current price of $27.57 and an average consensus analyst price target of $31.42.

Gold Can Still Hit $1,500 says Brian Hicks

NEW YORK (TheStreet) -- Brian Hicks, co-manager of the U.S. Global Investors Global Resources Fund, reveals why he thinks the bulk of the selling in gold is done



Gold -- is trying to avoid that psychologically important level at thirteen hundred dollars an ounce. Because gold indexed on the gold price up about seven dollars while the futures market is relatively flat. Joining me is Brian hicks -- manager of the US global investors (GROW) global resources finds. And Brian my biggest question is where are all -- safe haven buyers why isn't gold at 2030 dollars on -- Egypt's Middle East news.

Commodity Price Swings "Here to Stay," PepsiCo CEO Says - Shares Down 1.9%

PepsiCo (PEP) shares are down in step with the broader market while the company's CEO says commodity prices are likely to remain volatile for some time to come.

Indra Nooyi, PepsiCo CEO, said swings in the price of commodities are "here to stay," Bloomberg reported.

The volatility will come from growing demand in the Middle East and environmental shocks in various parts of the world, he said.

PepsiCo shares are down 1.9%, or $1.25, to $64.31.