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Analyst downgrades: NDAQ, FDO, CC, WFC and KEY

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MOST NOTEWORTHY: Nasdaq Stock Market, Family Dollar, Circuit City, Wells Fargo and Key Corp were today's noteworthy downgrades:
  • Credit Suisse downgraded Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Market Perform from Outperform on valuation.
  • JP Morgan expects Family Dollar Stores Inc (NYSE: FDO) to face macro pressures and increased competition from Wal-Mart Stores Inc (NYSE: WMT) and Dollar General.
  • Bear downgraded shares of Circuit City Stores Inc (NYSE: CC) to Peer Perform from Outperform based on lack of visibility, execution issues, softer consumer environment, potential pricing disruptions, and product cycle concerns.
  • Merrill downgraded shares of Wells Fargo and Company (NYSE: WFC) to Neutral from Buy to reflect higher credit losses and valuation and KeyCorp (NYSE: KEY) to Sell from Neutral to reflect the company's "weak" revenue growth.
OTHER DOWNGRADES:

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Symbol Lookup
IndexesChangePrice
DJIA-93.7910,197.47
NASDAQ-17.882,149.02
S&P 500-11.271,087.24

Last updated: November 12, 2009: 05:44 PM

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