MOST NOTEWORTHY: Getty Images (GYI), Jackson Hewitt (JTX), Electronic Data (EDS), RC2 Corp (RCRC) and Chipotle Mexican Grill (CMG) were today's noteworthy downgrades:
- Deutsche Bank cut Getty Images (NYSE: GYI) to Sell from Hold citing deterioration in its core business. Gabelli downgraded Getty Images to Hold from Buy after the company lowered guidance to reflect the changing industry dynamics.
- Goldman cut Jackson Hewitt (NYSE: JTX) to Sell from Neutral citing near-term risks that include the renegotiation of the HSBC (HBC)/RAL contract, the DoJ/IRS investigation, and decreasing performance in tax.
- Wedbush downgraded RC2 Corp (NASDAQ: RCRC) to Buy from Strong Buy on the lower sales forecast for 2007. Soleil cut shares to Hold from Gradually Accumulate to reflect uncertainty over the Thomas recall and increased competition.
OTHER DOWNGRADES:
- Lazard downgraded Kyphon (NASDAQ: KYPH) to Hold from Buy.
- Credit Suisse downgraded AutoDesk (NASDAQ: ADSK) to Neutral from Buy.
- CIBC downgraded Marvell Tech (NASDAQ: MRVL) to Sector Performer from Outperformer.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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