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MOST NOTEWORTHY: Advanced Medical (EYE) and PDL BioPharma (PDLI) topped today's list of downgrades.
- Merril Lynch, Citigroup, Credit Suisse and BMO Capital Markets all downgraded Advanced Medical Optics, Inc. (NYSE:EYE) after the company's product recall.
- First Albany downgraded PDL BioPharma, Inc. (NASDAQ:PDLI) to Underperform from Neutral after news of Hoffman-LaRoche (RHHBY) discontinuing the co-development of Daclizumab for organ transplant patients.
OTHER DOWNGRADES:
- LongBow Research downgraded The Black & Decker Corp. (NYSE:BDK) to Neutral from Buy, citing slowing fundamentals as well as increased competition for the rationale.
- Credit Suisse downgraded Smurfit-Stone Container Corp. (NASDAQ:SSCC) to Neutral from Outperform citing container board prices that are near peak levels.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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Reader Comments (Page 1 of 1)
11-22-2006 @ 1:55PM
JOE ROGERS said...
HAVE YOU LOOKED AT THE PERFORMANCE OF MET & MFC. YOU ARE DOING YOUR READERS A DISSERVICE BY OMITTING THEM. MET JUST SOLD A BUILDING FOR OVER 5 BILLION DOLLARS AND MFC'S EARNINGS (NET) ARE FABULOUS. MET WILL PROBABLY BUY BACK SOME OF THEIR STOCK WITH THE PROCEEDS OF THE BUILDING SALE AND MFC'S PE RATIO WILL SOAR. DON'T YOU KNOW THAT THE LAW OF DIMINISHING RETURNS INDICATES THAT LIFE INSURANCE COMPANIES WILL EVENTUALLY OWN EVERYTHING? (THEORETICAL, OF COURSE).