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MOST NOTEWORTHY: Cisco Systems, Kirby and First Fed Financial were today's noteworthy downgrades:
- UBS downgraded Cisco (NASDAQ: CSCO) to Neutral from Buy after channel checks indicated orders are slowing, which gives them concern over the July quarter.
- Stephens cut Kirby (NYSE: KEX) to Equal Weight from Overweight as they believe a good 2008 is already priced into shares and that the liquid barge industry cycle may be nearing a top.
- First Fed Financial (NYSE: FED) was lowered to Neutral from Outperform at Credit Suisse, citing credit quality deterioration.
OTHER DOWNGRADES:
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
Walmart's New Health Food Push: Is It Too Hard to Swallow?
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
