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Analyst downgrades: UCBH, NAHC and JSAIY

MOST NOTEWORTHY: UCBH Holdings, National Atlantic Holdings and J Sainsbury were today's noteworthy downgrades:
  • Friedman Billings downgraded UCBH Holdings (NASDAQ: UCBH) to Market Perform from Outperform. The firm said the departure of auditor PWC could not have come at a worse time following the recent CFO replacement and the credit-quality-related adverse change to Q4 earnings in the 10-K.
  • Citigroup cut National Atlantic Holdings (NASDAQ: NAHC) to Hold from Buy after the company announced plans to merger with a subsidiary of Palisades Safety and Insurance.
  • Goldman removed J Sainsbury (OTC: JSAIY) from the Conviction Buy List on fears that stagflation could impact earnings.
OTHER DOWNGRADES:

Symbol Lookup
IndexesChangePrice
DJIA-344.6511,188.23
NASDAQ-74.692,259.04
S&P 500-38.151,236.83

Last updated: September 05, 2008: 02:56 AM

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