MOST NOTEWORTHY: Christopher & Banks Corp (CBK), Tiffany & Co (TIF), Sterling Financial Corp (SLFI), and Komag, Inc (KOMG) were today's most noteworthy downgrades:
- Matrix believes lower selling prices and volumes are negatively affecting Christopher & Banks' (NYSE: CBK) margins and downgraded to Sell from Hold.
- Tiffany & Co (NYSE: TIF) was cut to Neutral from Overweight at HSBC based on valuation.
- Suntrust downgraded shares of Sterling Financial (NASDAQ: SLFI) to Reduce from Neutral given the charge from an ongoing investigation into the irregularities discovered with certain financing contracts of affiliate Equipment Finance LLC.
- Komag (NASDAQ: KOMG) was cut to Hold from Strong Buy at Needham after the company pre-announced lower-than-expected second quarter results. Bear Stearns downgraded shares of Komag to Peer Perform from Outperform...
OTHER DOWNGRADES:
- First Albany downgraded Iomai Corp (NASDAQ: IOMI) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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