MOST NOTEWORTHY: American Home Mortgage (AHM), Biogen Idec (BIIB), Bebe Stores (BEBE), Ingersoll-Rand (IR) and SK Telecom (SKM) were today's more noteworthy downgrades:
- RBC Capital cut American Home Mortgage (NYSE: AHM) to Sector Perform from Outperform citing the deterioration in the global debt markets for the downgrade.
- Morgan Stanley downgraded shares of Biogen Idec (NASDAQ: BIIB) to Underweight from Equal Weight citing risk to Rituxan growth.
- Merriman downgraded Bebe Stores (NASDAQ: BEBE) to Neutral from Buy as they believe new fall merchandise is not performing well enough to improve sales trends.
- Robert W. Baird downgraded shares of Ingersoll-Rand (NYSE: IR) to Neutral from Outperform citing higher risk premium due to the IRS challenge and tighter credit markets that could impact the Bobcat divestiture.
OTHER DOWNGRADES:
- Thomas Weisel downgraded LoopNet (NASDAQ: LOOP) to Market Weight from Overweight.
- ThinkEquity cut Kyphon (NASDAQ: KYPH) to Accumulate from Buy.
- Needham downgraded QLogic (NASDAQ: QLGC) to Hold from Buy.
- JMP Securities downgraded ValueClick (NASDAQ: VCLK) to Market Perform from Outperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required)
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