MOST NOTEWORTHY: Shire Plc, Bank of Ireland and Walgreen were today's noteworthy downgrades:
- Bernstein downgraded shares of Shire Plc (NASDAQ: SHPGY) to Underperform from Market Perform as they believe sales of hyperactivity drug Vyvanse will be lower than expected.
- Bank of Ireland (NYSE: IRE) was downgraded to Neutral from Buy at UBS on the slowing economy and commercial property market.
- Citigroup downgraded Walgreen (NYSE: WAG) to Sell from Hold as they believe the weaker consumer environment should magnify company-specific challenges and that earnings pressure will continue over the next few quarters.
OTHER DOWNGRADES:
- Raven (NASDAQ: RAVN) Industries was lowered to Sell from Neutral at Piper.
- Goldman downgraded Brown-Forman (NYSE: BF.A) to Sell from Neutral.
- JP Morgan downgraded Noble (NYSE: NE) to Neutral from Overweight.