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Investment Banks Downgraded

Merrill cuts its rating on Lehman, Goldman and others.
Author:

Merrill Lynch cut its rating on several investment banks, but the downgrades weren't keeping all of the stocks from rising along with the broader market.

The firm dropped

Deutsche Bank

(DB) - Get Deutsche Bank AG Report

,

Lehman Brothers

(LEH)

,

Bear Stearns

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(BSC)

,

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

and

Credit Suisse

(CS) - Get Credit Suisse Group AG Sponsored ADR Report

to neutral from buy.

Despite Merrill's move, Deutsche was up 0.9%, Bear rose 0.5%, and Goldman gained 1.1%. Credit Suisse and Lehman eased 0.5%.