MOST NOTEWORTHY: Granite Construction Inc (GVA), Sunterra Corp (SNRR), Halliburton Co (HAL) and Golfsmith International Holdings, Inc (GOLF) were today's notable downgrades:
- Matrix USA downgraded Granite Construction Inc (NYSE: GVA) to Sell from Buy on valuation.
- CL King cut Sunterra Corp (OTC: SNRR) to Neutral from Strong Buy.
- UBS removed Halliburton Co (NYSE: HAL) from its U.S. Strategic Stock Selections List.
- JP Morgan cut Golfsmith (NASDAQ: GOLF) to Neutral from Overweight, cutting risk to full-year guidance.
OTHER DOWNGRADES:
- Bank of America cut Spirit Finance Corp (NYSE: SFC) to Neutral from Buy following news that an Australia-based consortium led by Macquarie Bank Ltd will acquire Spirit for $14.50/share.
- Baird downgraded Diamond Management & Technology Consultants Inc (NASDAQ: DTPI) to Neutral from Outperform following its lowered Q4 outlook.
- Goldman cut Holly Energy Partners (NYSE: HEP) to Neutral from Buy on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). 
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