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MOST NOTEWORTHY: BigBand Networks, Chipotle Mexican Grill, Vertex Pharmaceuticals and Cognos were today's noteworthy downgrades:
- BigBand Networks Inc. (NASDAQ: BBND) was downgraded to Hold from Buy at Jefferies and to Market Perform from Outperform at Morgan Keegan on the company's negative Q2 pre-announcement to reflect decreased visibility.
- Citigroup downgraded Chipotle Mexican Grill Inc. (NYSE: CMG) to Hold from Buy on valuation.
- Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was downgraded to Neutral from Buy at Merrill Lynch, as they believe investor expectations are high into November's American Association for the Study of Liver Diseases meeting.
- Soleil downgraded Cognos Inc. (NASDAQ: COGN) to Hold from Buy as they believe the strong Canadian dollar will depress operating margins and limit share upside.
OTHER DOWNGRADES:
Comfort Zone Investing: The unmighty dollar
Five winners of a weak dollar
For a quick-read on the U.S. economy, check the price of gasoline
