• ADC Telecommunications (ADCT) Cut to Underweight from Overweight at JPMorgan.
• Alcon (ACL) Cut to Neutral from Overweight at JPMorgan.
• American Medical Systems (AMMD) Cut to Market Weight at Thomas Weisel.
• Buckeye Group Holdings LP (BGH) Cut to Neutral at Goldman Sachs.
• Colonial Bancgroup Inc. (CNB) Cut to Neutral at JPMorgan.
• Con-Way,Iinc (CNW) Cut to Neutral at Baird.
• Electronic Arts (ERTS) Cut to Sell at S&P Equity Research.
• Freeport-McMoRan (FCX) Cut to Neutral from Buy at Goldman Sachs.
• Nordic American Tanker (NAT) Cut to Neutral at JPMorgan.
• Overseas Shipholding (OSG) Cut to Neutral at JPMorgan.
• Souhern Copper (PCU) Cut to Sell at Goldman Sachs.
• STMicroelectronics (STM) Cut to Hold at S&P Equity Research.

Jon C. Ogg
October 23, 2008

Qwest Communications (Q) Big telecom company turns in ugly forecast. Shares fall to $6.94 from 52-week high of $10.45.

Rite Aid Corporation (RAD) Still dogged by high costs and low margins on generic drugs. Falls to $3.80 from 52-week high of $6.74.

American Medical Systems (AMMD) Lowers outlook for the year and is hit with downgrade. Drops to $11.89 from 52-week high of $33.18.

Openwave Systems (OPWV) Still slipping after last week’s earnings. Drops to $3.86 from 52-week high of $10.58.

Divx Inc (DIVX) Deal the company has with Google (GOOG) gets unpleasant amendment. Share move down to $12.24 from 52-week high of $31.89.

Douglas A. McIntyre