MOST NOTEWORTHY: Luminent Mortgage (LUM), JetBlue (JBLU), Thornburg Morgtage (TMA) and Harmony Gold (HMY) were today's noteworthy downgrades:
- Luminent Mortgage (NYSE: LUM) was downgraded by a host of firms following suspension of its dividend and 10Q filing delay:
- UBS cut shares to Sell from Neutral.
- Deutsche Bank downgraded Luminent to Sell from Buy.
- Friedman Billings and JMP Securities downgraded shares to Underperform from Market Perform. Keefe Bruyette downgraded Luminent to Market Perform from Outperform.
- Morgan Stanley downgraded JetBlue (NASDAQ: JBLU) to Underweight from Equal Weight based on expected competition from Virgin American and their stretched balance sheet.
- Deutsche Bank downgraded shares of Thornburg Mortgage (NYSE: TMA) to Sell from Hold telling accounts it does not believe REIT taxable earnings will be able to support the dividend.
- Deutsche Bank and UBS cut shares of Harmony Gold (NYSE: HMY) to Sell from Neutral after the company lowered its earnings forecast and the CEO resigned...
OTHER DOWNGRADES:
- Thomas Weisel downgraded F5 Networks (NASDAQ: FFIV) to Market Weight from Overweight.
- Pali Capital downgraded Clearwire (NASDAQ: CLWR) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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