Benzinga's Top Downgrades

Pacific Biosciences of California Inc (NASDAQ: PACB) was downgraded by JP Morgan from "overweight" to "neutral." PACB's shares closed at $9.90 yesterday. PACB's trailing-twelve-month operating margin is -10,359.33%.

Collins Stewart downgraded Dolby Laboratories (NYSE: DLB) from “buy” to “neutral.” DLB's stock closed at $37.67 yesterday Dolby Laboratories' trailing-twelve-month ROA is 15.60%.

Needham downgraded Cogo Group Inc (NASDAQ: COGO) from “strong buy” to “hold.” COGO's shares closed at $4.68 yesterday. COGO's trailing-twelve-month ROE is 7.12%.

Morgan Keegan downgraded Diana Shipping inc (NYSE: DSX) from “outperform” to “market perform.” DSX's shares closed at $8.53 yesterday. Diana Shipping's PEG ratio is -2.18.