Early Bird Analyst Downgrades (CHS, FIG, GE, MPEL, MTB, SNY, SLGN, STM, STI)

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By Douglas A. McIntyre Published
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These are not all of the downgrades or negative analyst calls affecting stocks this Tuesday, but these are some of the highlights we have seen with over 2 and a half hours to the market open:

  • Chico’s FAS (NYSE: CHS) Cut to Neutral at Piper Jaffray.
  • Fortress Investment (NYSE: FIG) Cut to Market Perform at KBW.
  • General Electric (NYSE: GE) Cut to Neutral at Merrill Lynch.
  • Melco Crown Entertainment (NASDAQ: MPEL) Cut to Neutral at JPMorgan.
  • M&T Bank (NYSE: MTB) Cut to Underperform at Baird.
  • Sanofi-Aventis (NYSE: SNY) Cut to Underperform at Credit Suisse.
  • Silgan Holdings (NASDAQ: SLGN) Cut to Neutral at Goldman Sachs.
  • STMicroelectronics (NYSE: STM) Cut to Neutral at JPMorgan.
  • SunTrust Banks (NYSE: STI) Cut to Neutral at Baird.

Jon C. Ogg
September 23, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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