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MOST NOTEWORTHY: Credit Suisse, Deutsche Bank, ConocoPhillips, Finisar and Cepheid were today's noteworthy downgrades:
- Lehman Brothers downgraded shares of Credit Suisse Group (NYSE: CS) to Equal Weight from Overweight and shares of Deutsche Bank AG (NYSE: DB) to Underweight from Overweight to reflect potential write downs from their U.S. subprime mortgage exposure.
- ConocoPhillips (NYSE: COP) was downgraded to Market Perform from Outperform at Bernstein on valuation.
- Needham lowered shares of Finisar Corporation (NASDAQ: FNSR) to Buy from Strong Buy, as they expect pressure in FY08 as margins recover and opex remains elevated due to patent litigation.
- Cepheid Inc (NASDAQ: CPHD) was downgraded at UBS to Neutral from Buy on valuation.
OTHER DOWNGRADES:
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