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MOST NOTEWORTHY: Oil and gas explorers and producers, GSI Commerce and Gazprom Neft were today's noteworthy downgrades:
- Credit Suisse downgraded Devon Energy (NYSE:DVN) and Forest Oil (NYSE:FST) to Neutral from Outperform following a reduction in the firm's 2008 natural gas outlook.
- Jefferies downgraded shares of GSI Commerce (NASDAQ:GSIC) to Hold from Buy as they have become more cautious on margins given the company's increasingly heavy online discounting through this holiday season.
- Gazprom Neft (OTC:GZPFY) was downgraded to Sell from Hold at Deutsche Bank on valuation, as they believe the recent rally is not supported by fundamentals.
OTHER DOWNGRADES:
Why do we have a weak dollar?
Holiday hiring slow for retailers
Closing Bell: What sell-off? (AIG, ABK, EPR, MBI, JAVA, ORCL, ERTS)
