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Analyst downgrades: BOOM, AGN and JAVA

MOST NOTEWORTHY: Dynamic Materials, Allergan and Sun Micro were among today's noteworthy downgrades:
  • Dynamic Materials (NASDAQ: BOOM) was downgraded to Neutral from Overweight at J.P. Morgan following the Q1 report based on margin risk from steel costs and availability.
  • Allergan (NYSE: AGN) was downgraded to Hold from Buy at Jefferies ahead of the Q1 report on May 7 based on potential deceleration in Botox and breast implants, which could result in multiple contractions.
  • Sun Microsystems (NASDAQ: JAVA) was downgraded to Peer Perform from Outperform at Bear, citing the disappointing earnings report for the downgrade.
OTHER DOWNGRADES:
  • ManTech (NASDAQ: MANT) was downgraded to Neutral from Outperform at Cowen based on valuation and expectations for decelerating growth in 2H08.
  • Silver State Bancorp (NASDAQ: SSBX) was downgraded to Sell from Hold at Sandler O'Neil.

IPO & secondary preview -- Week of July 2, 2007

Consistent with tradition, Wall Street's equity market is taking the 4th of July holiday week off, with only 1 deal, a secondary offering, tentatively scheduled to price.

Secondaries:

Possible

Silver State Bancorp (OTC: SSBX),
a 3.2 million share secondary for this savings & loan holding company. Sandler O'Neill & Partners and Howe Barnes Investment are the lead managers.

For the latest market intelligence on IPOs, Syndicate, and after-market trades, check out The Fly Syndicate at www.theflyonthewall.com. [Subscription required.]

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 10, 2012: 11:43 PM

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