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MOST NOTEWORTHY: Regional banks, Starbucks and Medarex were today's noteworthy downgrades:
- Keefe Bruette downgraded regional banks, including Cullen/Frost Bankers (NYSE:CFR) and Susquehanna Bancshares (NASDAQ:SUSQ) to Market Perform from Outperform and BB&T Corp (NYSE:BBT) to Underperform from Market Perform, on valuation and new economic baseline.
- Goldman downgraded shares of Starbucks (NASDAQ:SBUX) to Neutral from Buy on U.S. competition and consumer demand concerns.
- Bear lowered its rating on Medarex (NASDAQ:MEDX) to Peer Perform from Outperform
OTHER DOWNGRADES:
- Morgan Stanley downgraded DeVry (NYSE:DV) to Equal Weight from Overweight.
- B. Riley lowered Hill International (NASDAQ:HINT) to Neutral from Buy.
- HSBC downgraded Nikon Corp (NINOY) to Underweight from Neutral.
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