Analyst downgrades: U.S. banking sector, HBC, TWMC and MIPS
Posted Nov 12th 2007 9:55AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Federal Natl Mtge (FNM)
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MOST NOTEWORTHY: The U.S. banking sector, HSBC Holdings, Trans World and Mips Technologies were today's noteworthy downgrades:
- CIBC downgraded the U.S. Banks sector to Underweight from Market Weight as they see another leg down as investors shift focus away from write-downs to the impact the write-downs will have on risk-weighted assets and capital ratios.
- Morgan Stanley downgraded shares of HSBC Holdings Plc (NYSE: HBC) to Equal Weight from Underweight, as they believe the company may have to set aside more money for bad loans in the U.S.
- B. Riley downgraded shares of Trans World Entertainment Corporation (NASDAQ: TWMC) to Neutral from Buy, as they believe the downside risk should the Bob Higgins acquisition proposal fall through outweighs the potential upside should the bid be raised or should another bidder emerge.
- B. Riley also downgraded Mips Technologies Inc (NASDAQ: MIPS) to Neutral from Buy following the company's Q1 results to reflect the company's deteriorating balance sheet and licensing business softness.
OTHER DOWNGRADES:
Tags: banking, banks, CNQR, Concur Tech, ConcurTech, downgrades, E-Trade Financial, E-tradeFinancial, ETFC, Fannie Mae, FannieMae, FNM, FRE, Freddie Mac, FreddieMac, HBC, HSBC Holdings, HsbcHoldings, MIPS, Mips Technologies, MipsTechnologies, Trans World, TransWorld, TWMC, U.S. banks, U.s.Banks, WYE, Wyeth
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Reader Comments (Page 1 of 1)
11-12-2007 @ 10:44AM
Jjjaaazzzyyy said...
Took them a long time on the downgrading don't you think? I guess they are slow on the uptake.