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MOST NOTEWORTHY: Large Cap Oilfield Services, Andersons and Unilever were today's noteworthy downgrades:
- UBS downgraded Large Cap Oilfield Services stocks citing a "more sober 2008 outlook." The firm downgraded Smith International (NYSE: SII) and Baker Hughes (NYSE: BHI) to Neutral from Buy, citing delays in offshore growth for the Smith downgrade and execution issues for Baker Hughes.
- Banc of America downgraded shares of Andersons (NASDAQ: ANDE) to Neutral from Buy following the company's Q4 results to reflect a lack of visibility on FY08 growth.
- Citigroup downgraded shares of Unilever (NYSE: UN/UL) to Hold from Buy to reflect an increase in commodity costs.
OTHER DOWNGRADES:
- Lehman lowered PNM Resources (NYSE: PNM) to Equal Weight from Overweight; shares were also downgraded to Hold from Buy at Citigroup.
- Friedman Billings downgraded Thomas & Betts (NYSE: TNB) to Market Perform from Outperform.
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