MOST NOTEWORTHY: Today's noteworthy downgrades involved Hilton Hotels Corp (HLT), TransAlta Corp (TAC), Cascade Corp (CAE), Activison (ATVI) and Atheros Communications (ATHR):
- Stifel downgraded Hilton Hotels (NYSE: HLT) to Hold from Buy at Stifel based on the recent acquisition.
- TD Newcrest cut TransAlta (NYSE: TAC) to Sell from Hold and doesn't consider an LBO of the company likely.
- Rodman cut Cascade (NYSE: CAE) to Market Underperform from Market Perform based on valuation.
- Activision (NASDAQ: ATVI) was downgraded to Neutral from Outperform at JP Morgan based on valuation and the competitive environment.
OTHER DOWNGRADES:
- Needham downgraded Kyphon (NASDAQ: KYPH) to Buy from Strong Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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