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MOST NOTEWORTHY: Texas Instruments, Check Point, Mobile Mini, Vineyard National Bancorp and TorreyPines were today's noteworthy downgrades:
- Jefferies downgraded shares of Texas Instruments (NYSE: TXN) to Hold from Buy, as they believe the company's fundamentals are weakening given the worse than anticipated share losses in the wireless segment. Shares were also lowered to Neutral from Overweight at JP Morgan, to Equal Weight from Overweight at Lehman, to Neutral from Outperform at Credit Suisse, and to Neutral from Buy at UBS to reflect the slowdown in the company's wireless growth.
- Check Point Software (NASDAQ: CHKP) was downgraded to Hold from Buy at Jefferies on valuation and highlights the difficult spending environment in 1H08 as well as the company's tough comps.
- Deutsche Bank downgraded shares of Mobile Mini (NASDAQ: MINI) to Hold from Buy following the company's negative preannouncement.
- Oppenheimer lowered Vineyard National Bancorp (NASDAQ: VNBC) to Neutral from Buy to reflect slower pace of balance sheet growth and lower gain-on-sale income estimates.
- JMP Securities downgraded TorreyPines (NASDAQ: TPTX) to Market Outperform from Strong Buy and said Tezampanel's lack of dose response and statistically significant pain free response will keep the stock in the "show me" category.
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
