MOST NOTEWORTHY: Best Buy (BBY), Weight Watchers (WTW) and Texas Instruments (TXI) tops today's list of downgrades.
- Bernstein downgraded Best Buy Co, Inc. (NYSE: BBY) to Market Perform from Outperform, citing challenges ahead due to the deceleration of the TV cycle.
- Weight Watchers International, Inc. (NYSE:WTW) was downgraded to Neutral from Buy at Bank Of America after checks suggested soft North American attendance.
- Matrix USA downgraded Texas Instruments, Inc. (NYSE:TXI) to Hold from Buy on valuation.
OTHER DOWNGRADES:
- Goldman Sachs downgraded TradeStation Group, Inc. (NASDAQ:TRAD) to Neutral from Buy on valuation, citing preference to E*Trade (ET).
- Morgan Stanley downgraded the Integrated Oil Sector to In-Line from Attractive, citing slowing profit growth.
- MGI Pharma, Inc. (NASDAQ:MOGN) was downgraded by American Tech to Sell from Neutral, citing valuation and upcoming Aloxi risks for the move.
- Deutsche Bank downgraded Schering-Plough Corp. (NYSE:SGP) to Hold from Buy citing valuation.
- In addition, Deutsche Bank also downgraded Forest Laboratories, Inc. (NYSE:FRX) to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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