MOST NOTEWORTHY: Today's more notable downgrades included Dell Inc (DELL), Deutsche Telekom ADS (DT) and the Nasdaq Stock Market Inc (NDAQ):
- Needham downgraded Dell inc (NASDAQ: DELL) to Hold from Buy after the Q4 results as they now believe the company is unlikely to outperform for "at least" several quarters. They considered Dell's notebook shipments to be the biggest disappointment in the quarter.
- Deutsche Telecom ADS (NYSE: DT) was cut to Sell from Neutral at Merrill Lynch.
- JP Morgan downgraded the Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Neutral from Overweight following the company's price cuts as they feel the new prices negatively impact the U.S. cash equity business.
OTHER DOWNGRADES:
- Baird cut Xerium Technologies Inc (NYSE: XRM) to Underperform from Neutral, citing increased spending plans and pressure from the underlying paper market that raised dividend sustainability concerns.
- First Albany downgraded Hyperion Solutions Corp (NASDAQ: HYSL) to Neutral from Buy.
- Sanders Morris cut Crosstex Energy (NASDAQ: XTEX) to Hold from Buy. Raymond James downgraded shares of Crosstex to Market Perform from Outpeform.
- Bernstein downgraded TXU Corp (NYSE: TXU) to Market Perform from Outperform as the firm believe the current bid from Kohlberg Kravis Roberts and Texas Pacific Group will succeed.
- Merrill Lynch cut Altera Corp (NASDAQ: ALTR) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). 
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