Shares of American Eagle Outfitters (NYSE:AEO) slumped over 7% Friday morning after Goldman Sachs downgraded the apparel and accessories retailer to neutral from a buy rating and cut its price target to $13 from $16 a share. The broker justified the downgrade noting how pricing metrics have weakened in September and October relative to strong pricing data observed in August. Goldman Sachs said it is less optimistic on the company's EPS. American Eagle Outfitters (NYSE:AEO) shares were off 7.2% at $12.81 in recent morning trade, moving within a 52-week range of $10.12 - $16.95.Media General, Inc. (NYSE:MEG), a provider of news, information and entertainment, said Friday its newly formed, wholly owned subsidiary intends to issue $300 million aggregate principal amount of senior unsecured notes in connection with the financing of its announced business combination with LIN Media LLC. Upon the closing of the LIN Merger, MEG's subsidiary will merge with and into LIN Television Corporation with LIN Television continuing as the surviving corporation in such merger and assuming all of the issuer's obligations under the senior notes and the indenture governing the senior notes.The proceeds of any such senior notes, together with cash on hand, proceeds from previously announced divestitures and bank borrowings through proposed amendments to its existing credit agreement, will be used to pay a portion of the merger consideration for the business combination with LIN, repay certain existing indebtedness of LIN and pay related fees and expenses. Media General, Inc. (NYSE:MEG) shares were down 0.7% at $14.30 recently, in a 52-week range of $12.45 to $23.97.Frontier Communications Corp (NASDAQ:FTR) on Friday completed the $2 billion acquisition of AT&T's (T) wireline business, statewide fiber network, and U-verse operations in Connecticut. As part of the all-cash deal, Frontier also acquired AT&T's DISH satellite TV customers in Connecticut. As a result of the transaction, Frontier Communications Corp (NASDAQ:FTR) will offer broadband, voice, video and other products to residential and business customers in Connecticut. The deal was first announced in December 2013 and received approval from the U.S. Department of Justice, the Federal Communications Commission, the Connecticut Public Utilities Regulatory Authority and other state regulatory authorities. FTR shares fell 0.6% Friday morning to $6.24.Gigamon Inc (NYSE:GIMO) is trading more than 20% higher on Friday after reporting strong Q3 earnings followed by an upgrade at Bank of America to Neutral from Underperform. The firm also raised its priced target to $16 from $11. Gigamon Inc (NYSE:GIMO), which sells traffic visibility solutions with its Visibility Fabric architecture, reported Q3 non-GAAP net income was $1.2 million, or $0.04 per diluted share, compared to non-GAAP net income of $5.7 million, or $0.18 per diluted share, in the prior-year period. The consensus analyst estimate in the Capital IQ survey was for a loss of $0.04 per share, if comparable. Revenues were $39.3 million, up 1% year-over-year. The Cap IQ figure was for $35.4 million. Shares of GIMO last traded at $14.05 with a 52-week range of $9.95 to $36.75.
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