Top Pre-Market Analyst Downgrades (APD, AA, CENX, CERN, BOOM, ECLP, EE, FCX, K, LOGI, WYE)

These are some of the top pre-market analyst downgrades we have seen this Thursday morning with more than two hours until the market opens:

• Air Products (APD) Cut to Hold at KeyBanc.
• Alcoa (AA) Cut to Equal Weight at Morgan Stanley.
• Century Aluminum (CENX) Cut to Equal Weight at Morgan Stanley.
• Cerner (CERN) Cut to Hold at Jefferies; Cut to Perform at Oppenheimer.
• Dynamic Materials (BOOM) Cut to Hold at KeyBanc.
• Eclipsys (ECLP) Cut to Underperform at Jefferies.
• El Paso Electric (EE) Cut to Hold at Jefferies.
• Freeport-McMoRan Copper & Gold Inc. (FCX) Cut to Equal Weight at Morgan Stanley; Cut to Underperform at FBR.
• Kellogg (K) Cut to Hold at Citigroup.
• Logitech (LOGI) Cut to Sell at Citigroup.
• Wyeth (WYE) Cut to Neutral at UBS.

Jon C. Ogg
January 22, 2009