NEW YORK (
) -TheStreet Ratings' stock model downgraded
to 'Hold' from 'Buy'. This $117 billion market cap biopharmaceutical company reported quarterly net income 25.8% below the same quarter last year and earnings per dropping 37.5% from the year ago quarter.
TheStreet Ratings released rating changes on nine additional U.S. common stocks for July 16, 2010. In all, eight stocks were downgraded and two stocks have been upgraded by our stock model.
One Friday, Pfizer announced that its entire pipeline of AIDS drugs associated with its joint venture partners ViiV Healthcare and
would be available to generic drugmakers of royalty-free production. This revenue trimming gesture was made in advance of the Vienna International AIDS conference and covers the 69 least developed countries including sub-Saharan Africa.
The only stock upgraded to 'Buy' from 'Hold' today is
Adams Resources & Energy
. This company is much smaller at a market capitalization of just $86 million, however it did manage to grow top line revenue by 56.9% last quarter and net operating cash flow by 15.4% over the year ago quarter. No wonder the shares have climbed 38.4% in one year.
-- Reported by Kevin Baker in Jupiter, Fla.
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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.