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MOST NOTEWORTHY: HSBC Holdings, WPP Group and Aware were today's noteworthy downgrades:
- Morgan Stanley downgraded HSBC Holdings (NYSE: HBC) to Underweight from Equal Weight to reflect expected losses at the company's U.S. unit.
- ABN Amro cut WPP Group (NASDAQ: WPPGY) to Hold from Buy as they expect slowing top-line growth from stagnant marketing budgets.
- Merriman downgraded shares of Aware (NASDAQ: AWRE) to Neutral from Buy after DSL royalty revenue declined for a third straight quarter.
OTHER DOWNGRADES:
The Wal-Mart Weekly: Retailer accused of sweatshop conditions in Bangladesh
Fog clearing - maybe. Clear skies - no! GE, JNJ, MRK, PG, RTN, WFC
Cramer on BloggingStocks: A fighting chance for the credit markets.
