MOST NOTEWORTHY: Microsoft (MSFT), Career Education Corp (CECO), Verizon Communications (VZ), Transocean Inc (RIG) and GlobalSanteFe Corp (GSF) were some of today's notable downgrades:
- Davenport cut shares of Microsoft (NASDAQ: MSFT) to Neutral from Buy citing concerns of a potential Yahoo! (YHOO) acquisition, which would significantly dilute earnings.
- Gabelli downgraded shares of Career Education (NASDAQ: CECO) to Hold from Buy as the firm believes turnaround efforts at the University segment are not gaining traction.
- With the greater dependence on midwater floaters, AG Edwards believes Transocean Inc (NYSE: RIG) now has a more balanced risk/reward and cut shares to Hold from Buy.
- AG Edwards also cut GlobalSanteFe (NYSE: GSF) to Hold from Buy based on the company's greater dependence on international jackups and balanced risk/reward.
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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