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MOST NOTEWORTHY: Motorola, MF Global and Acorda Therapeutics were today's noteworthy downgrades:
- Piper Jaffray downgraded shares of Motorola (NYSE: MOT) to Sell from Neutral after their June channel checks indicated continued market share losses in the company's North American handset business.
- Keefe Bruyette downgraded shares of MF Global (NYSE: MF) to Market Perform from Outperform on the anticipated dilutive effect of the company's convertible offerings.
- Friedman Billings downgraded Acorda Therapeutics (NASDAQ: ACOR) to Market Perform from Outperform citing valuation.
OTHER DOWNGRADES:
- Xyratex (NASDAQ: XRTX) was downgraded to Neutral from Outperform at Baird and to Market Perform from Outperform at Wachovia.
- Goldman downgraded the U.S. Financial Sector and Consumer Discretionary Sector to Underweight from Neutral. Goldman removed Nucor (NYSE: NUE) from the Conviction Buy List.
- Merrill downgraded AU Optronics (NYSE: AUO) to Neutral from Buy.
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