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MOST NOTEWORTHY: The Managed Care sector, Keryx Biopharma and Citrix Systems were today's noteworthy downgrades:
- Goldman downgraded the Managed Care sector to Neutral from Attractive following WellPoint's (NYSE: WLP) reduced 2008 outlook. The firm said WellPoint's issues reflect a company specific underwriting error but also industry-wide pricing pressures which increase the risk of a cyclical slowdown in managed care. WellPoint was also downgraded to Neutral from Overweight at JP Morgan.
- Banc of America cut Keryx Biopharma (NASDAQ: KERX) to Neutral from Buy and lowered their target to $1.00 after Sulonex failed to meet its primary endpoint.
- Jefferies downgraded shares of Citrix Systems (NASDAQ: CTXS) to Hold from Buy, as they believe the first half of 2008 will be a tough year for software and are increasingly worried about the macro environment.
OTHER DOWNGRADES:
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America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
