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MOST NOTEWORTHY: The Entertainment sector was the most noteworthy downgrade today.
- Bear Stearns downgraded the Entertainment sector to Market Weight from Market Overweight based on long-term concerns of market share losses to user generated content, competition from new competitors and a shift in ad spending.
OTHER DOWNGRADES:
- TiVo Inc. (NASDAQ:TIVO) was downgraded to Sell from Neutral at Oppenheimer, citing weak subscriber metrics and outlook.
- Marathon Oil Corp. (NYSE:MRO) was downgraded at Friedman Billings to Underperform from Market Perform on valuation.
- Expedia Inc. (NASDAQ:EXPE) was downgraded to Hold from Buy at Matrix USA on valuation and slowing sales growth.
- The Gap Inc. (NYSE:GPS) was downgraded to Hold from Buy Lazard; Following Gap's latest merchandise deliveries, the firm has lost confidence in management's ability to source the right product, let alone the right merchandise.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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