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MOST NOTEWORTHY: Anworth Mortgage, MFA Mortgage, New Star Asset Management and Saks were today's noteworthy downgrades:
- Keefe Bruyette downgraded Anworth Mortgage (NYSE: ANH) and MFA Mortgage (NYSE: MFA) to Market Perform from Outperform to reflect lower book value estimates based on the widening in agency spreads.
- Deutsche Bank downgraded New Star Asset Management (OTC: NWSAF) to Sell from Buy, as they are negative on the company's business model and growth prospects in the current environment.
- Saks (NYSE: SKS) was cut to Neutral from Buy at Banc of America as they believe the high-end is slowing.
OTHER DOWNGRADES:
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