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Morgan Stanley on Friday downgraded earnings estimates for computer chip equipment maker ASML , the latest brokerage to do so following weakness in the memory chip market and concerns over demand from Chinese chipmakers and Intel .

Czech policymakers are likely to continue with monetary easing and lower the key interest rate by a cumulative 1.5 percentage points to 3% by the end of next year, according to Morgan Stanley.

PepsiCo (NASDAQ:PEP) slipped in early trading on Friday after Morgan Stanley downgraded the food and beverage stock. The firm moved to an Equal Weight rating on PepsiCo (PEP) after being in the bull camp since March.

Shares of (ASML) are falling as Morgan Stanley became the latest bank to downgrade earnings estimates for the chip company. Deutsche Bank and UBS both previously downgraded estimates, citing growth concerns for the broader chip market and increased competition from both Intel (INTC) and Chinese manufacturers.

Morgan Stanley downgraded ASML Holding NV (NASDAQ: ASML) on September 20 by cutting the stock’s rating from Overweight to Equal-weight.

ASML's (ASML) stock fell about 2% premarket on Friday after Morgan Stanley downgraded the shares to Equal-weight from Overweight.