MOST NOTEWORTHY:

• Citigroup downgraded shares of Acergy (NASDAQ: ACGY) to Sell from Hold as they see risk to the company's backlog and believes the recent share rally is not supported by business operations.
  
• Casey's General (NASDAQ: CASY) was downgraded at Friedman Billings to Underperform from Market Perform citing headwinds that include weak gas comps.
  
• Banc of America downgraded shares of Corinthian Colleges (NASDAQ: COCO) to Neutral from Buy as they believe the post-legislation lending overhang will limit further share upside until COCO can show its students can access federal funds with minimal disruption.

• Bernstein cut EMC Corp (NYSE: EMC) to Market Perform from Outperform.
  
• Baird lowered Woodward Governor (NASDAQ: WGOV) to Neutral from Outperform.
  
• Merrill downgraded Sealed Air (NYSE: SEE) and Bemis (BMS) to Sell from Neutral.

Analyst downgrades: EMC, ACGY, CASY, WGOV, SEE and COCO originally appeared on BloggingStocks on Tue, 20 May 2008 12:12:00 EST. Please see our terms for use of feeds.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite aggressive recommendation for 2008 is Acergy (NASDAQ: ACGY)," says Elliott Gue, editor of The Energy Strategist.

"Acergy provides engineering and construction services for offshore oil and gas developments with a particular focus on deepwater projects. Acergy's most important business is what's known as SURF -- subsea umbilicals, risers and flowlines.

"SURF relates only to wells that are developed with subsea completions, meaning that the well is installed directly on the seafloor. When wells are installed on the seafloor, operators need ways to control the well remotely.

"This is done via electrical and hydraulic systems; umbilicals are nothing more than electrical and hydraulic cables that connect a surface-based platform to subsea wells. The term riser refers to a flexible steel pipe that connects underwater pipelines or wells to surface-based floating production platforms. Risers actually carry oil and/or gas from subsea developments to the surface.

"Finally, flowlines are smaller diameter pipes used to transport oil and gas underwater. Obviously, all subsea developments require the installation of SURF. Acergy's heavy concentration in this area gives it extraordinary leverage to deepwater.

Continue reading Best Stocks for 2008: Acergy (ACGY) rises from subsea services

Best Stocks for 2008: Acergy (ACGY) rises from subsea services originally appeared on BloggingStocks on Sun, 30 Dec 2007 13:00:00 EST. Please see our terms for use of feeds.