MOST NOTEWORTHY: Wyeth (WYE), Luminent Mortgage Capital (LUM), CheckFree (CKFR), EOG Resources (EOG) and K-Swiss (KSWS) were today's noteworthy downgrades: - Cowen downgraded Wyeth (NYSE: WYE) to Neutral from Outperform based on limited long-term limited visibility.
- JP Morgan downgraded shares of Luminent Mortgage (NYSE: LUM) to Underweight from Neutral citing difficult CMO and CDO market conditions.
- JP Morgan downgraded CheckFree (NASDAQ: CKFR) to Neutral from Overweight following the company's acquisition by FiServ (FISV).
- Matrix cut shares of EOG Resources (NYSE: EOG) to Sell from Buy to reflect lower natural gas prices and increasing costs.
- Matrix believes soft demand for athletic shoes is leading to declining sales for K-Swiss (NASDAQ: KSWS), and cut shares to Sell from Buy...
OTHER DOWNGRADES:
- JMP Securities downgraded CapitalSource (NYSE: CSE) to Outperform from Strong Buy.
- Oppenheimer has turned negative on oil and gas names for the near-term, as they now believe the downside risk exceeds upside potential; they cut shares of Apache Corp (NYSE; APA), BP PLC (NYSE: BP), ConocoPhillips (NYSE: COP), Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM), among others, to Neutral from Buy.
Once again, OPEC has killed the goose that lays the golden egg
Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down 
Where have all the consumers gone?
Reader Comments (Page 1 of 1)
8-06-2007 @ 12:23PM
nick geannopoulos said...
as long as crude oil sells at $35 or more, companies such as cop, xom, etc.. are making money....at $75 a barrel, their "gross" profit is about $40 a barrel.....current oil company stock prices are bargains...do not sell oil stocks at this time