UPDATE 1-UK Stocks-Factors to watch on Feb. 21
Feb 21 Britain's FTSE 100 index is seen opening down 2 points at 7298 on Tuesday, according to financial bookmakers, with futures down 0.1 percent ahead of the cash market open.
* BB&T Capital Markets cuts stock to hold from buy
* Wells Fargo cuts stock to market perform from outperform
* Shares down 9 pct
July 20 At least two brokerages downgraded ManTech International Corp (MANT.O), citing the resignation of its President and Chief Operating Officer Larry Prior.
The defense technology company's shares fell 9 percent in morning trade.
"This departure raises a number of questions in our opinion," BB&T Capital Markets analyst Michael Lewis, who cut ManTech stock to "hold" from "buy", wrote in a note to clients.
ManTech Monday announced Prior's resignation and said Chief Executive Officer George Pedersen will assume the responsibilities of the president.
The company said its three operating group presidents will assume the chief operating officer's duties.
Analyst Lewis raised doubts on the reason behind Prior's departure as president just one year into office, and if there were any disagreement between Prior and the company.
"Following a string of new senior management announcements orchestrated by Prior, will the recently hired personnel stay with ManTech or follow Prior after non-solicitation agreements end?," the analyst wrote.
Wells Fargo, which downgraded shares of the company to "market perform" from "outperform", said it assumed "no meaningful surprise" on ManTech's results which is due July 28.
The brokerage lowered its valuation range on the stock to between $41 and $45 from between $54 and $59. (Reporting by NR Sethuraman in Bangalore; Editing by Don Sebastian)
* Finalizes recruitment of patients for international clinical study, supporting the 510 (k) regulatory approval application to the FDA
LONDON, Feb 21 Russian state oil firm Rosneft has become the first major oil firm to pre-finance crude exports from Iraq's Kurdistan, joining trading houses in the race for crude from the semi-autonomous region.