...and does anyone notice the upgrade ?
Biotechnology stocks were moving lower in early trading Monday after an investment bank cut its rating on three bellwether stocks.
The Amex Biotechnology Index (BTK: news, msgs, alerts) lost 1.4 percent and the Nasdaq Biotechnology Index (NBI: news, msgs, alerts) shed 1.5 percent in early action.
In a note to clients early Monday, Lehman Brothers cut its rating on the stocks of three of the sector's biggest companies, Biogen (BGEN: news, msgs, alerts) , Genentech (DNA: news, msgs, alerts) and MedImmune (MEDI: news, msgs, alerts) , from "strong buy" to "buy." In the note, Lehman Brothers said the stocks could be vulnerable given "recent market volatility."....
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