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MOST NOTEWORTHY: Knot Inc (KNOT), Cablevision (CVC), Chesapeake Energy Corp (CHK), Green Mountain Coffee (GMCR) and Intermec (IN) were today's noteworthy downgrades: - Merriman downgraded shares of Knot Inc (NASDAQ: KNOT) to Neutral from Buy following the company's mixed outlook to reflect poor visibility.
- Cablevision (NYSE: CVC) was downgraded to Market Perform from Outperform at Wachovia following its disappointing Q2 report and guidance. The firm does not expect a higher Dolan bid.
- Wachovia also downgraded shares of Chesapeake Energy Corp (NYSE: CHK) to Market Perform from Outperform. The firm said management expects an equity offering in the next 6-9 months, which is in contrast to recent comments regarding capital discipline and funding plans.
- Green Mountain Coffee (NASDAQ: GMRC) was downgraded to Market Perform from Outperform at Piper Jaffray on valuation and tough year/year comparisons.
OTHER DOWNGRADES:
- Lehman downgraded Novo Nordisk (NYSE: NVO) to Equal Weight from Overweight.
- Davenport downgraded Wm. Wrigley Jr. Co (NYSE: WWY) to Neutral from Buy on valuation.
- Delta Petroleum (NASDAQ: DPTR) was downgraded at Merrill Lynch to Sell from Neutral.
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