Top Pre-Market Analyst Downgrades (ACN, ADBE, DOX, CREL, CTRP, IACI, ISIL, KLAC, SAPE, SSCC)

These are some of the top pre-market analyst downgrades and cautious calls we have seen this Thursday morning:

• Accenture (ACN) Cut to Neutral at Goldman Sachs.
• Adobe Systems (ADBE) Cut to Neutral at Baird.
• Amdocs (DOX) Cut to Neutral at Goldman Sachs.
• Corel (CORL) Cut to Neutral at Piper Jaffray.
• Ctrip.com (CTRP) Cut to Neutral at Goldman Sachs.
• IAC/Interactive (IACI) Cut to Equal-Weight at Barclays.
• Intersil (ISIL) Cut to Neutral at Goldman Sachs.
• KLA-Tencor (KLAC) Cut to Hold at Citigroup.
• Sapient (SAPE) Cut to Sell at Goldman Sachs.
• Smurfit-Stone (SSCC) Cut to Neutral at Credit Suisse.

Jon C. Ogg
December 4, 2008