MOST NOTEWORTHY: CACI International Inc (CAI), SAIC, Inc (SAI), CenturyTel, Inc (CTL), Honda Motor Co (HMC) and Micron Technology, Inc (MU) were today's noteworthy downgrades:
- Morgan Stanley downgraded CACI International (NYSE: CAI) and SAIC Inc (NYSE: SAI) to Underweight from Equal Weight to reflect concerns over an increasingly unfavorable political environment as the risk of reduced funding for federal IT initiatives grows.
- Soleil downgraded shares of CenturyTel (NYSE: CTL) to Sell from Hold on valuation and a possibly active hurricane season.
- Micron Technology (NYSE: MU) was downgraded to Sell from Neutral at Goldman Sachs as the firm believes improvements in DRAM pricing will be short lived and that the company will continue to generate losses given its poor cost structure.
OTHER DOWNGRADES:
- CSX Corp (NYSE: CSX) was downgraded to Reduce from Neutral at Calyon on valuation and deteriorating volume.
- WebSideStory, Inc (NASDAQ: WSSI) was downgraded to Sector Perform from Outperform at RBC, citing short-term execution risks.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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