MOST NOTEWORTHY: J.B. Hunt Transport Services, Inc (JBHT), QLogic Corp (QLGC), General Motors (GM), Big 5 Sporting Goods Corp (BGFV) and Biogen Idec Inc (BIIB) were today's more noteworthy downgrades:
- Wachovia downgraded shares of J.B. Hunt Transport Services (NASDAQ: JBHT) to Market Perform from Outperform citing a more tempered outlook for the U.S. Intermodal market.
- QLogic Corp's (NASDAQ: QLGC) downgrade to Market Perform from Outperform at Friedman Billings was based on weaker then planned HBA and switch revenue and low gross margins on new Infiniband products that spiked up in the mix.
- Oppenheimer downgraded Big 5 Sporting Goods (NASDAQ: BGFV) to Neutral from Buy believing current trends suggest a lagging west coast customer.
- RBC Capital Markets cut Biogen Idec Inc (NASDAQ: BIIB) to Sector Perform from Outperform citing mixed feedback at AAN that indicates longer-term safety data will be needed to drive adoption of Tysabri and lingering long-term concerns over Rituxan royalties and profit share.
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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