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MOST NOTEWORTHY: W.W. Grainger, American Express and Microsoft were today's noteworthy downgrades:
- Baird downgraded W.W. Grainger Inc (NYSE: GWW) to Neutral from Outperform, citing concerns regarding the the federal lawsuit accusing the company of overcharging the U.S. Government.
- American Express Company (NYSE: AXP) was lowered to Market Perform from Outperform to reflect their assumption for a weaker economy.
- RBC Capital downgraded Microsoft Corporation (NASDAQ: MSFT) to Sector Perform from Outperform citing Yahoo! Inc's (NASDAQ: YHOO) rejection of its $31/share bid and a counteroffer of $40/share. The firm expects a deal to get done between $35.00-$40.00 per share, resulting in increased dilution.
OTHER DOWNGRADES:
Chasing Value: Ten stocks for 2010 -- Part 2
Advanced Micro Devices rallies after settling Intel tiff
United Technologies fires up a deal with GE
