MOST NOTEWORTHY: CV Therapeutics, Inc (CVTX) and Stone Energy Corp (SGY) topped today's modest-sized list of downgrades:
- Citigroup cut CV Therapeutics Inc (NASDAQ: CVTX) to Sell from Hold with a $6 target due to the diminished market potential for Ranexa and its high operating expenses. First Albany downgraded shares to Neutral from Strong Sell to reflect the lack of catalysts.
- Matrix USA cut Stone Energy Corp (NYSE: SGY) to Strong Sell from Hold, believing significant cost increases are driving negative fundamental trends.
OTHER DOWNGRADES:
- Deutsche Telecom AG (NYSE: DT) was downgraded to Peer Perform from Outperform at Bear Stearns as the firm believes evidence of a turnaround needs to be seen before shares move higher.
- Thomas Weisel cut Brady Corporation (NYSE: BRC) to Market Weight from Overweight to reflect lower confidence in management's ability to deploy capital effectively.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
.gif){kind=logo}
MOST NOTEWORTHY: Patterson-UTI Energy, Nabors Industries, US Steel Group, Cooper Companies and Continental AG were today's noteworthy upgrades:
Why do we have a weak dollar?
Holiday hiring slow for retailers
Closing Bell: What sell-off? (AIG, ABK, EPR, MBI, JAVA, ORCL, ERTS)
