Baby food maker Gerber has announced the recall of half a million packages of organic rice and oatmeal cereal. According to the company, the cereal poses a choking hazard. Lumps in the cereal may not dissolve properly, and babies may choke on the solid particles that remain even after milk or water has been added.

The recall was announced late on Friday but is getting more attention today. Gerber is owned by Novartis AG (NYSE: NVS), the Swiss pharmaceutical and consumer health giant. So far, the recall does not appear to have hurt the company's stock.

For parents, of course, it's another matter. The thought of children being harmed by something as basic and essential as food is deeply disturbing. To make matters worse, the recall involves organic baby food, which to parents (or at least this one) promises greater safety and health in exchange for a higher price.

In its press release, Gerber says that it "has received choking complaints, but no reports of injury." The cereal in question was distributed in the United States, Puerto Rico and the Caribbean. For more information, see the press release posted on Gerber's website.

MOST NOTEWORTHY: The more noteworthy downgrades today came from Calyon, which cut five companies in the oil services and equipment sector:

• Calyon is taking a more cautious stance due to valuations in the sector. The firm believes strong fundamentals are now reflected in share prices. As such, Calyon downgraded Global Industries, Ltd (NASDAQ: GLBL), Ensco International Inc (NYSE: ESV), Transocean Inc (NYSE: RIG) and Schlumberger Ltd (NYSE: SLB) to Add from Neutral and downgraded Gerber Scientific, Inc (NYSE: GRB) to Neutral from Add...

OTHER DOWNGRADES:

• Piper Jaffray cut ValueClick, Inc (NASDAQ: VCLK) to Market Perform from Outperform.

• UBS cut Lyondell Chemical Co (NYSE: LYO) and IndyMac Bancorp, Inc (NYSE: IMB) to Neutral from Buy.

• Goldman downgraded Worthington Industries, Inc (NYSE: WOR) to Sell from Neutral.

• Matrix USA cut Allergan, Inc (NYSE: AGN) to Sell from Hold and Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Underperform from Market Perform at Keefe Bruyette.

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