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MOST NOTEWORTHY: Occam Networks, Washington Mutual, Downey Financial and IMS Health were today's noteworthy downgrades:
- Merriman downgraded shares of Occam Networks (NASDAQ: OCNW) to Neutral from Buy as they believe the company's restatement filing raised more questions than it answered and that the company's takeout value is shrinking.
- Friedman Billings downgraded Washington Mutual (NYSE: WM) and Downey Financial Corporation (NYSE: DSL) to Underperform from Market Perform based on credit trends that are eroding faster than anticipated in the housing market.
- William Blair downgraded IMS Health (NYSE: RX) to Market Perform from Outperform following the lower than expected Q3 results to reflect deterioration in the company's market environment. Shares were also downgraded to Sell from Neutral at Goldman Sachs.
OTHER DOWNGRADES:
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
