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MOST NOTEWORTHY: Credit Suisse, UBS, Deutsche Bank and Indevus were today's noteworthy downgrades:
- Bear Stearns downgraded shares of Credit Suisse (NYSE:CS) to Underperform from Peer Perform to reflect the weak financial markets and concerns around the company's subprime exposure.
- UBS (NYSE:UBS) was downgraded at the firm to Peer Perform from Outperform, as they expected UBS to take further write-downs due to its exposure to subprime mortgages.
- Bear also lowered its rating on Deutsche Bank (NYSE:DB) to Underperform from Peer Perform on concerns the deteriorating market conditions in 2008 will pressure fixed income revenue.
- JMP Securities downgraded Indevus (NASDAQ:IDEV) to Market Outperform from Strong Buy. They said ongoing Nebido dosing ranging studies may result in delays and they see lack of near-term upside due to the new accounting treatment of the new Allergan (NYSE:AGN) agreement.
OTHER DOWNGRADES:
Walmart's New Health Food Push: Is It Too Hard to Swallow?
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
