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MOST NOTEWORTHY: International Rectifier, Wolseley and ProLogis were today's noteworthy downgrades:
- Citigroup downgraded shares of International Rectifier (NYSE: IRF) to Sell from Hold after checks in Asia indicated LCD TV display weakness outside Sony/Samsung and signs of slowing China consumer demand.
- Morgan Stanley downgraded shares of Wolseley (OTC: WOSLY) to Underweight from Equal Weight to reflect a more negative outlook for the company's Nordic business and U.S. housing starts.
- Banc of America cut ProLogis (NYSE: PLD) to Neutral from Buy on long-term growth concerns given the economic slowdown.
OTHER DOWNGRADES:
Only strong retailers will survive
Not much fun for GameStop in Q3
Closing Bell: Stocks continue to plummet; AMGN, GE, MSFT, PEP, STP all down
