Top Pre-Market Analyst Downgrades (AXP, ATML, BX, CHA, CYPB, HPQ, SLAB, UBS, WSM)

These are some of the top pre-market analyst downgrades or cautious calls we have seen from Wall Street firms early this Wednesday morning:

American Express (AXP) Cut to Underweight at JPMorgan.
Atmel (ATML) Cut to Market Perform at FBR.
Blackstone (BX) Cut to Market Perform at KBW.
China Telecom (CHA) Cut to Sell at Citigroup.
Cypress Bioscience (CYPB) Cut to Perform at Oppenheimer.
Hewlett-Packard (HPQ) Started as Outperform at RBC.
Silicon Laboratories (SLAB) Cut to Market Perform at FBR.
UBS (UBS) Cut to Underperform at KBW.
Williams-Sonoma (WSM) Cut to Underweight at Barclays.