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MOST NOTEWORTHY: Hotels, Continental AG and VNUS Medical were today's noteworthy downgrades:
- Oppenheimer downgraded shares of Marriott International (NYSE: MAR), Intercontinental Hotels (NYSE: IHG) and Choice Hotels (NYSE: CHH) to Perform from Outperform to reflect recent weakness in the leisure segment and expectations for weakening transient business travel.
- Societe Generale downgraded shares of Continental AG (OTC: CTTAY) to Sell from Buy on valuation, as they recommend taking profits following the recent rally.
- Piper downgraded shares of VNUS Medical (NASDAQ: VNUS) to Neutral from Buy on valuation following the company's patent victory.
OTHER DOWNGRADES:
- Goldman removed China Netcom (NYSE: CN) from the Conviction Buy List.
- RBC Capital downgraded Crown Castle (NYSE: CCI) and American Tower (NYSE: AMT) to Sector Perform from Outperform.
- Trimble Navigation (NASDAQ: TRMB) was cut to Neutral from Overweight at JP Morgan.
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