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MOST NOTEWORTHY: The mortgage finance sector, Applebee's, Fuel-Tech, BHP Billiton, Anglo American and Rio Tinto were today's noteworthy downgrades:
  • Lehman downgraded the mortgage finance sector to Negative from Neutral citing the potential of over $100B in losses for the group in the coming years. Washington Mutual (NYSE: WM) was downgraded to Equal Weight from Overweight; IndyMac Bancorp (NYSE: IMB) and Countrywide Financial Corporation (NYSE: CFC) were downgraded to Underweight from Equal Weight.
  • Applebee's International (NASDAQ: APPB) was downgraded to Underperform from Market Perform at Wachovia, as the firm sees potential downside risk if the company's acquisition of IHOP Corp (NYSE: IHP) does not go through, following mixed reviews from Proxy firms.
  • Merriman downgraded shares of Fuel-Tech (NASDAQ: FTEK) to Sell from Neutral after channel checks indicated the competitive landscape is much more challenging than commonly perceived for the FUEL CHEM product line. Merriman sees significant risk to shares at current levels.
  • Citigroup downgraded shares of BHP Billiton (NYSE: BHP), Anglo American (NASDAQ: AAUK) and Rio Tinto (NYSE: RTP) to Hold from Buy on valuation following the recent rally.
OTHER DOWNGRADES:

Analyst downgrades: Mortgage finance sector, APPB, FTEK, BHP, AAUK and RTP originally appeared on BloggingStocks on Mon, 22 Oct 2007 10:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aaukamerican expressAmericanExpressanalystangiotechanglo americanAngloAmericananpiappbapplebee'saxpbhpbhp billitonBhpBillitoncapital oneCapitalOnecfccofcountrywidedfsdiscoverdltrdollar treeDollarTreedowngradeftekfuel-techihopihpimbindymaclululululemonrio tintoRioTintortpwashington mutualWashingtonMutualwmMon, 22 Oct 2007 10:45:00 EST<![CDATA[Angiotech Pharmaceuticals: Coat your portfolio]]>http://www.bloggingstocks.com/2007/05/16/angiotech-pharmaceuticals-coat-your-portfolio/http://www.bloggingstocks.com/2007/05/16/angiotech-pharmaceuticals-coat-your-portfolio/http://www.bloggingstocks.com/2007/05/16/angiotech-pharmaceuticals-coat-your-portfolio/#commentsFiled under:

If you've ever needed a drug-coated stent, there's a good chance it was a Taxus stent, which is made by an alliance of Boston Scientific and Angiotech Pharmaceuticals Inc. (USA) (NASDAQ: ANPI). Angiotech produces drugs that prevent inflammation and infection, and it makes its money by combining these drugs with more traditional medical products.

It has recently introduced a new wound closer, as well as a less invasive facelift technology, and it has a number of other products on the horizon. The last year has not been good to ANPI's stock price, which has declined pretty steadily from over $15 to near $5. This drop probably has quite a bit to do with growing questions about stents; given that Angiotech relies in large part on its royalties from the Taxus stents, investors may be responding to the medical concerns over stents by selling Angiotech shares.

Continue reading Angiotech Pharmaceuticals: Coat your portfolio

Angiotech Pharmaceuticals: Coat your portfolio originally appeared on BloggingStocks on Wed, 16 May 2007 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ANPIBSXHilary on StocksHilaryOnStocksWed, 16 May 2007 09:30:00 EST