MOST NOTEWORTHY: Thornburg Mortgage, Keryx Biopharma and Aeropostale were today’s noteworthy downgrades:

• Jefferies downgraded shares of Thornburg Mortgage (NYSE: TMA) to Underperform from Hold after the company said it is unable to meet margin calls despite asset sales and will restate 2007 earnings.
• Keryx Biopharma (NASDAQ: KERX) was downgraded to Neutral from Buy at Merrill, to Neutral from Overweight at JP Morgan, to Underperform from Market Perform at Rodman & Renshaw, to Hold from Buy at Jefferies and to Underperform from Outperform at Bear Stearns after the company announced the Sulonex SUN-MICRO Phase 3 trial floped
  to meet the primary endpoint.
• Citigroup lowered Aeropostale (NYSE: ARO) to Sell from Hold as they believe stock levels are building and that there is downside risk to Q1 estimates.

OTHER DOWNGRADES:

• Deutsche Bank cut Lincare Holdings (NASDAQ: LNCR) to Sell from Hold.
• RBC Capital lowered J2 Global (NASDAQ: JCOM) to Sector Perform from Outperform.
• Goldman removed Wal-Mart (NYSE: WMT) from its Conviction Buy List.

Original post by Eric Buscemi

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