Benzinga’s Top Downgrades (VLY, HCBK, SKS, CF)

Valley National Bancorp VLY was downgraded by Morgan Stanley from “equal weight” to “underweight.” VLY’s shares closed at $13.03 yesterday. VLY’s earnings have fallen by 11.34% in the past 5 years. Morgan Stanley downgraded Hudson City Bancorp Inc HCBK from "overweight" to "equal weight." HCBK’s shares closed at $11.53 yesterday. HCBK’s quarterly sales moved down 1.40% y/y. JP Morgan downgraded Saks Incorporated SKS from "overweight" to "neutral." SKS’ stock closed at $7.90 yesterday. SKS’ earnings have dipped 20.74% over the past 5 years. CF Industries Holdings Inc CF was downgraded by BMO Capital from “outperform” to “market perform.” CF’s shares closed at $92.50 yesterday. CF’s earnings are likely to fall by 38.78% this year. More Analyst Ratings here