Analyst Downgrade Onslaught Continues (ASML, CMG, FORM, GFIG, ICE, KLAC, MSSR, MPEL, MRG, PEET, PRXI, PHM, RGLD, JAVA, TCK, TER, UDR, VNO)

This morning was a shocker on just how many analyst downgrades and very negative calls were out from Wall Street analysts.  The sad part is this is only part of the onslaught that we are still seeing.

• ASML (NASDAQ: ASML) Cut to Market Perform at FBR.
• Chipotle (NYSE: CMG) Cut to Neutral at Piper Jaffray.
• FormFactor (NASDAQ: FORM) Cut to Market Perform at FBR.
• GFI Group (NASDAQ: GFIG) Cut to Hold at Deutsche Bank.
• IntercontinentalExchange (NYSE: ICE) Cut to Hold at Deutsche Bank.
• KLA-Tencor (NASDAQ: KLAC) Cut to Market Perform at FBR.
• McCormick & Schmick’s (NASDAQ: MSSR) Cut to Neutral at Piper Jaffray.
• Melco Crown (NASDAQ: MPEL) Cut to Hold at Deutsche Bank.
• Morton’s Restaurant Group (NYSE: MRG) Cut to Neutral at Piper Jaffray.
• Peet’s Coffee & Tea (NASDAQ: PEET) Cut to Neutral at Piper Jaffray.
• Premier Exhibitions (NASDAQ: PRXI) Cut to Neutral at Merriman Curhan Ford.
• Pulte Homes (NYSE: PHM) Cut to Neutral at JPMorgan.
• Royal Gold (NASDAQ: RGLD) Cut to Sector Underperform at CIBC.
• Sun Microsystems (NASDAQ: JAVA) Cut to Sell from Neutral at Goldman Sachs (added details).
• Teck (NYSE: TCK) Cut to Neutral at UBS.
• Teradyne (NYSE: TER) Cut to Market Perform at FBR.
• UDR Inc. (NYSE: UDR) Cut to Sell at Goldman Sachs.
• Vornado (NYSE: VNO) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
January 8, 2009

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