- Kirby (KEX -1.6%) is downgraded to Hold from Buy at BB&T, urging investor caution until consensus estimates become more realistic and oil prices stabilize.
- The firm says Wall Street has not adjusted earnings to reflect a decline in United revenues and profitability as oilfield service capex slows; also, as the growth in rig and well counts slow along with oil production, it is possible that some of the excess barge capacity that has been dedicated to the oil trade could matriculate to the petrochemical market, which could hamper price and utilization.