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Analyst downgrades 6-15-07: BBW, CAL, FCX, PGR and TAP

MOST NOTEWORTHY: Continental Airlines, Inc (CAL), Molson Coors Brewing Co (TAP), Watsco, Inc (WSO), K-V Pharmaceutical Co (KV.A), Progressive Corp (PGR) and Color Kinetics (CLRK) were today's noteworthy downgrades:
  • Goldman downgraded shares of Continental Airlines, Inc (NYSE: CAL) to Neutral from Buy on valuation, higher oil prices and a weak domestic market.
  • Goldman also downgraded Molson Coors Brewing Co (NYSE: TAP) to Neutral from Buy based on the increase in analyst estimates, valuation and the potential for margin pressure in the summer.
  • BB&T cut Watsco, Inc (NYSE: WSO) to Hold from Buy based on valuation and catalysts that are already reflected in the share price.
  • Roth Capital downgraded shares of K-V Pharmaceutical Co (NYSE: KV.A) to Hold from Buy, telling clients they have learned that Par Pharmaceuticals Cos (PRX) has launched generics of 50, 100 and 200mg Toprol-XL. The firm expects a material impact to KV's 100 and 200mg strength generics.
  • Stifel expects investor enthusiasm regarding Progressive's Corp (NYSE: PGR) recapitalization plan to fade as underwriting fundamentals deteriorate and cut shares to Sell from Hold.
  • Color Kinetics (NASDAQ: CLRK) was downgraded to Hold from Sell at Needham on valuation...
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Pink is the new Zune (and orange?)

pink zune?Just when I was getting ready to write a post proclaiming that, thanks to Microsoft's über-geeky-cool "suede"-colored Zune music player, brown is the new pink (a.k.a. is the new white, is the new silver, is the new black), it turns out that pink is the new pink.

Engadget has news that Microsoft has given pink and orange Zunes as gifts (to retailers perhaps?), although the particular shade seems to defy the understated, Northwest-comfort connotations of the other colors (white = "cotton", black = "flannel") with which Microsoft Corporation (NASDAQ:MSFT) has staked its claim. If you ask me this color says "poly-cotton blend knit," not, I don't know, "raw silk."

You know what? I'm sticking to my guns. Brown is the new pink and the new black. I'm predicting that retailers will be delivering a smattering of earth tones in their electronics product mix for 2007. Brown is beautiful, and the brown Zune is why I'm in love with Microsoft these days.

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Last updated: February 13, 2012: 03:00 PM

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