MOST NOTEWORTHY: Advantest (ATE), RightNow Technologies (RNOW), Mattson Technology (MTSN), Akamai Technologies (AKAM) and P.F. Chang's (PFCB) were today's noteworthy downgrades:
- Matrix downgraded Advantest (NYSE: ATE) to Strong Sell from Hold; the firm doesn't expect Advantest's profits to improve in the near-term after chip makers indicated they plan to cut capital spending.
- RightNow Technologies (NASDAQ: RNOW) was cut to Sector Perform from Outperform at Pacific Crest to reflect the company's poor execution.
- Mattson Technology (NASDAQ: MTSN) was downgraded to Sell from Buy at American Technology; The firm said Q2 results were strong but bookings and gross margin outlook were weaker due to memory spending weakness.
- Credit Suisse downgraded P.F. Chang's (NASDAQ: PFCB) to Market Weight from Overweight at Thomas Wiesel to reflect below plan new store performance for the third consecutive year at Pei Wei...
OTHER DOWNGRADES:
- Merriman downgraded Fuel Tech (NASDAQ: FTEK) to Neutral from Buy.
- Bear Stearns cut Hess Corp (NYSE: HES) to Peer Perform from Outperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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