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MOST NOTEWORTHY: Verizon, AT&T, Invitrogen and General Electric were today's noteworthy downgrades:
- UBS downgraded Verizon (NYSE: VZ) and AT&T (NYSE: T) to Neutral from Buy citing the weak economy and increased wireless competition.
- Banc of America downgraded shares of Invitrogen (NASDAQ: IVGN) to Neutral from Buy as the company's acquisition of Applied Biosystems (NYSE: ABI) alters their investment thesis. The company's target was cut to $38 from $50.
- JP Morgan downgraded General Electric (NYSE: GE) to Neutral from Overweight citing further risk to earnings and dislocation from necessary portfolio management in 2009.
OTHER DOWNGRADES:
- Office Max (NYSE: OMX) was cut to Neutral from Outperform at Credit Suisse.
- Goldman lowered Ryanair (NASDAQ: RYAAY) to Sell from Buy.
- WebMD Health (NASDAQ: WBMD) was downgraded to Sell from Source of Funds at ThinkPanmure.
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