div style="text-align: justify;"Goldman is downgrading shares of span style="font-weight: bold;"T. Rowe Price (NASDAQ:TROW)/span to Sell from Neutral. Firm's 12-month DCF and P/E based price target is $28, unchanged, implying 24% downside. They believe TROW’s current 60% P/E premium to the group (versus a historical 20% premium) is unsustainable amid accelerating fundamental headwinds including expected net outflows, slipping relative investment performance, and deteriorating operating margins. Goldman views T. Rowe as a long-term beneficiary of market turmoil, but they see the shares under- performing on a relative basis over the coming quarters.br /br /span style="font-weight: bold;"Catalyst/spanbr /T. Rowe’s strong financial position (a solid $853 mm in net cash or $3 per share) has rendered the stock a relative safe haven, leading to meaningful outperformance versus peers (+24% relative YTD). span style="font-weight: bold;"That said, shares now trade at 25X 2009E EPS or a 60% premium to peer average – a level they view ...

Hedge Fund DiscussionHedge Fund Discussion PieceI can't tell if Mr. Berko is for or against hedge funds, I will leave it up to you to decide....Dear Mr. Berko: There's big trouble in the $3 trillion hedge fund industry. Many have lost massive amounts of money because the market has gone against them and thousands of hedge fund employees are losing their jobs. The Hedge Fund Sector is a very vital sector of our economy and I've not heard a word from the Department of Treasury or the Federal Reserve about helping the hedge fund industry in this economic crisis. In 2000, then Federal Reserve Board Chairman Alan Greenspan rescued Long Term Capital Management and saved it from complete collapse. Many hedge-fund investors can't get their investments back because the hedge funds can't get the credit they need to finance their ...

USA Truck (USAK) offers truckload freight services to various industries, such as industrial machinery and equipment, rubber and plastics, retail stores, paper products, durable consumer goods, metals, electronics, and chemicals. The company primarily hauls products in Canada, Mexico and the United States. USA Truck, which also provides third party logistics and freight brokerage services, has a fleet of 2,499 tractors and 7,024 trailers. Those figures are current as of the end of 2007 and could be pared as fuel prices have soared and the US economy has slowed.

USA Truck recently reported a surge in second quarter earnings with net income rising to 21 cents a share, up from 15 cents a year earlier. Revenues also rose to $146 million from $124 million. Analysts that track the Arkansas-based company expect the company to earn 38 cents per share in 2008 and 61 cents a share in 2009. Five analysts follow the

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Perfumania Holdings (PERF) operates as a wholesaler and retailer of designer perfume and fragrances. The company also offers bath aides and skin care products for men, women and children. Perfumania primarily markets its products through the Web site Perfumania.com. On Friday, the company warned investors same-store sales and earnings for October 2008 will fail to meet expectations due to a weak U.S. economy. The company also said it will reduce the number of new stores it opens in 2009. Perfumania opened 56 new stores in fiscal 2008.

Slumping sales in August and September, inventory reductions at the company’s recently acquired Model Reorg business, and lower orders from important customers dampened Perfumania’s second quarter results. For the first seven weeks of the third quarter, Perfumania’s same store sales are off by about three percent, the New York-based company said. For the second quarter, Perfumania posted a loss of $2 million, or 65

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