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

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