Top Pre-Market Analyst Downgrades (ADBE, AMB, BLKB, KO, EMCI, HSII, KFN, OMTR, PLD, VAR, VMW, VMC)

These are some of the top downgrades we have seen this Monday morning with about 2 hours until the open:

• Adobe Systems (ADBE) Cut to Market Perform at FBR.
• AMB Property (AMB) Cut to Sell at Goldman Sachs.
• Blackbaud (BLKB) Cut to Market Perform at Wachovia.
• Coca-Cola (KO) Cut to Hold at Deutsche Bank.
• EMC Insurance (EMCI) Cut to Underperform at KBW.
• Heidrick & Struggles (HSII) Cut to Underperform at Baird.
• KKR Financial (KFN) Cut to Neutral at JPMorgan.
• Omniture (OMTR) Cut to Market Perform at FBR.
• ProLogis (PLD) Cut to Sell at Goldman Sachs.
• Varian Medical (VAR) Cut to Neutral at JPMorgan.
• VMware (VMW) Cut to Market Perform at Wachovia.
• Vulcan Materials (VMC) Cut to Sell at Goldman Sachs.

Jon C. Ogg
October 6, 2008