Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Bad news, Amgen Inc (AMGN)
MOST NOTEWORTHY: TDK Corp. (TDK), Maquire Properties (MPG), BankAtlantic Bancorp (BBX), ON Semiconductor (ONNN) and Amgen (AMGN) were today's noteworthy downgrades:
- UBS downgraded TDK Corp. (NYSE: TDK) to Reduce from Neutral after the company's operating profit missed estimates.
- Deutsche Bank cut Maguire Properties (NYSE: MPG) to Sell from Hold following the company's disappointing Q2 report.
- Sandler cut BankAtlantic Bancorp (NYSE: BBX) to Sell from Hold on valuation.
- Valuation and debt levels pushed Unterberg to downgrade ON Semiconductor (NASDAQ: ONNN) to Market Perform from Buy.
- William Blair downgraded shares of Amgen (NASDAQ: AMGN) to Market Perform from Outperform as they believe the CMS decision on ESA reimbursement guidelines is extremely restrictive regarding Aranesp use in oncology...
OTHER DOWNGRADES:
- Lyondell Chemical Co (NYSE: LYO) was downgraded to Equal Weight from Overweight.
- UBS cut FMC Technologies (NYSE: FTI) to Reduce from Neutral.
- Stanford downgraded MoSys (NASDAQ: MOSY) to Hold from Buy.
- Brean Murray downgraded SumTotal Systems (NASDAQ: SUMT) to Hold from Buy.
- Buckingham cut Cephalon (NASDAQ: CEPH) to Accumulate from Strong Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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