MOST NOTEWORTHY: CheckFree (CKFR), Talbots (TLB), SPSS Inc (SPSS), Network Appliance (NTAP) and Pozen Inc (POZN) were today's noteworthy downgrades:
- Following FiServ's (NASDAQ: FISV) acquisition of CheckFree, Raymond James cut CKFR shares to Market Perform from Strong Buy and Baird downgraded shares to Neutral from Outperform.
- Talbots (NYSE: TLB) was cut to Sell from Hold at Citigroup based on valuation, continued earnings disappointments, and a lack of earnings visibility.
- Cowen downgraded shares of SPSS Inc (NASDAQ: SPSS) to Underperform from Neutral citing decelerating growth and poor earnings quality.
- Bear Stearns cut Network Appliance (NASDAQ: NTAP) to Underperform from Peer Perform on the negative Q1 pre-announcement. Pacific Crest downgraded shares to Sector Perform from Outperform.
- After Pozen (NASDAQ: POZN) received a second approvable letter for Trexima, shares were downgraded by three firms:
- To Neutral from Strong Buy at First Albany
- To Hold from Buy at Jefferies and Lazard...
OTHER DOWNGRADES:
- Thomas Weisel downgraded Nortel Networks (NYSE: NT) to Market Weight from Overweight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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