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MOST NOTEWORTHY: Intel, Respironics and First Horizon were today's noteworthy downgrades:
- JP Morgan lowered its rating on Intel (NASDAQ:INTC) to Neutral from Overweight, as their checks indicate a late-quarter slowdown for Intel in order rates from the PC end market, which offset the upside the company experienced in earlier in Q4.
- Banc of America downgraded shares of Respironics (NASDAQ:RESP) to Neutral from Buy to reflect the acquisition by Philips (NYSE:PHG).
- Friedman Billings downgraded First Horizon (NYSE:FHN) to Underperform from Market Perform, citing its exposure to home equity and construction loans and mortgage banking operations. The firm adds that it expects the company to cut its quarterly dividend.
OTHER DOWNGRADES:
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