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MOST NOTEWORTHY: Thornburg Mortgage, Keryx Biopharma and Aeropostale were today's noteworthy downgrades:
- Jefferies downgraded shares of Thornburg Mortgage (NYSE: TMA) to Underperform from Hold after the company said it is unable to meet margin calls despite asset sales and will restate 2007 earnings.
- Keryx Biopharma (NASDAQ: KERX) was downgraded to Neutral from Buy at Merrill, to Neutral from Overweight at JP Morgan, to Underperform from Market Perform at Rodman & Renshaw, to Hold from Buy at Jefferies and to Underperform from Outperform at Bear Stearns after the company announced the Sulonex SUN-MICRO Phase 3 trial failed to meet the primary endpoint.
- Citigroup lowered Aeropostale (NYSE: ARO) to Sell from Hold as they believe inventory levels are building and that there is downside risk to Q1 estimates.
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