MOST NOTEWORTHY:

• Matrix believes lower selling prices and volumes are negatively affecting Christopher & Banks' (NYSE: CBK) margins and downgraded to Sell from Hold.

• Tiffany & Co (NYSE: TIF) was cut to Neutral from Overweight at HSBC based on valuation.

• Suntrust downgraded shares of Sterling Financial (NASDAQ: SLFI) to Reduce from Neutral given the charge from an ongoing investigation into the irregularities discovered with certain financing contracts of affiliate Equipment Finance LLC.

• Komag (NASDAQ: KOMG) was cut to Hold from Strong Buy at Needham after the company pre-announced lower-than-expected second quarter results. Bear Stearns downgraded shares of Komag to Peer Perform from Outperform...

• First Albany downgraded Iomai Corp (NASDAQ: IOMI) to Neutral from Buy.

• Calyon cut Apache Corp (NYSE: APA) to Add from Buy.

• Morgan Joseph downgraded Stein Mart, Inc (NASDAQ: SMRT) to Hold from Buy.

• Societe General cut BHP Billiton (NYSE: BHP) to Hold from Buy and Rio Tinto (NYSE: RTP) to Sell from Hold.

Analyst downgrades 5-25-07: APA, BHP, TIF and RTP originally appeared on BloggingStocks on Fri, 25 May 2007 11:14:00 EST. Please see our terms for use of feeds.