MOST NOTEWORTHY: ING Group, Innerworkings, Kenexa, AirTran Holdings and AMR Corp were today's noteworthy downgrades:
- Bear Stearns downgraded shares of ING Group (NYSE: ING) to Peer Perform from Underperform after the company's Q3 results, given continued concerns regarding the US mortgage market.
- Jefferies lowered its rating on Innerworkings (NASDAQ: INWK) to Hold from Buy on valuation, as they see limited upside after the in-line Q3 results.
- Kenexa (NASDAQ: KNXA) was downgraded to Market Underperform from Market Perform at JMP Securities. The firm downgraded shares following the disappointing Q3 report and guidance as pressure on its business is likely to continue.
- UBS downgraded AirTran Holdings (NYSE: AAI) to Neutral from Buy and AMR Corporation (NYSE: AMR) to Sell from Neutral. The firm cited weakening corporate demand for the downgrades.
OTHER DOWNGRADES:
- NICE Systems (NASDAQ: NICE) was downgraded to Neutral from Buy at Banc of America.
- Deutsche Bank downgraded Gol Linhas Aereas (NYSE: GOL) to Hold from Buy.
- Wachovia downgraded the Broker Sector to Market Weight from Overweight, also downgrading Goldman Sachs (NYSE: GS) to Market Perform from Outperform.
- Goldman removed Maxim (NASDAQ: MXIM) from its Conviction Buy List.