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Analyst downgrades: HBC, WPPGY and AWRE

MOST NOTEWORTHY: HSBC Holdings, WPP Group and Aware were today's noteworthy downgrades:
  • Morgan Stanley downgraded HSBC Holdings (NYSE: HBC) to Underweight from Equal Weight to reflect expected losses at the company's U.S. unit.
  • ABN Amro cut WPP Group (NASDAQ: WPPGY) to Hold from Buy as they expect slowing top-line growth from stagnant marketing budgets.
  • Merriman downgraded shares of Aware (NASDAQ: AWRE) to Neutral from Buy after DSL royalty revenue declined for a third straight quarter.
OTHER DOWNGRADES:

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Last updated: May 18, 2008: 06:55 AM

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