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Analyst downgrades: Garmin, Express Scripts, ArQule

Posted Jan 9th 2008 11:49AM by Eric Buscemi (RSS feed)
Filed under: Analyst Upgrades and Downgrades, Garmin Ltd (GRMN)

MOST NOTEWORTHY: Garmin, Express Scripts and ArQule were today's noteworthy downgrades:

Deutsche Bank downgraded shares of Garmin Ltd. (NASDAQ: GRMN) to Hold from Buy and lowered their target to $90 from $125 after channel checks at CES raised concerns about competitive pressure in the U.S. and pricing. Deutsche sees increasing uncertainty for 2008.
Express Scripts (NASDAQ: ESRX) was lowered to Market Perform from Outperform based on valuation and risk to 2008 guidance.
Banc of America downgraded shares of ArQule (NASDAQ: ARQL) to Neutral from Buy following the departure of CEO Dr. Stephen Hill, to reflect greater execution risk and uncertainty.

OTHER DOWNGRADES:

Keefe Bruyette downgraded IberiaBank (NASDAQ: IBKC) to Underperform from Market Perform.
JMP Securities lowered Red Lion Hotels (NYSE: RLH) to Market Outperform from Strong Buy.
Bear Stearns downgraded Family Dollar (NYSE: FDO) to Underperform from Peer Perform.

IPO & secondary weekly preview: Blackstone Group, Hertz, Omniture

Posted Jun 11th 2007 10:10AM by Joseph Lazzaro (RSS feed)
Filed under: SEC Filings, Other Issues, Deals, Blackstone Group L.P (BX)

Wall Street's equity market offers a solid slate this week - with five IPOs and ten Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

Day Undetermined:
- The Blackstone Group (BX), a 133.3M-share IPO. Morgan Stanley and Citigroup are the lead managers. Filing range: $29.00-$31.00.
Tuesday
- Biofuel Energy (BIOF), a 9.5M-share IPO for this ethanol company. JP Morgan Chase, Citigroup, and AG Edwards are the lead managers. Filing range: $16.00-$18.00.
Wednesday
- Bway (BWY), an 11.765M-share IPO for this container company. Goldman Sachs and the Bank of America are the lead managers. Filing range: $16.00-$18.00.
- GeoVera Insurance (GEOV), a 5.99M-share IPO for this residential insurance company. JP Morgan Chase and Merrill Lynch are the lead managers.
Thursday
- Aegerion Pharmaceuticals (AEGR), a 5M-share IPO for this cardiovascular medicines company. Lehman Brothers is the lead manager. Filing range: $12.00-$14.00.