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MOST NOTEWORTHY: E-Trade, Sterling Bancshares and Research in Motion and were today's noteworthy downgrades:
- Bank of America downgraded shares of E-Trade (NASDAQ: ETFC) to Sell from Neutral, as they no longer believe the value of the company's retail brokerage business can offset negative value at the bank.
- Sterling Bancshares (NASDAQ: SBIB) was downgraded to Neutral from Outperform at Baird on valuation.
- Morgan Keegan lowered its rating on Research in Motion (NASDAQ: RIMM) to Market Perform from Outperform, and believes the 8000 series upgrade cycle will likely slow and that share performance will be impacted by expectations of a slowing economy..
OTHER DOWNGRADES:
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
