Right, they don't make headlines, except for Mulally and the like, but quite a number have been "excusing" themselves from consideration. I imagine the response to the announcement will be like the response when Nixon announced his running mate: "Spiro who?" (A blast from the past...)
depends on who downgrades. if its the investment banks then its a buy because they are dumping the stock to pick it up at cheap prices. also its a good opportunity for companies with stock buyback programs(like MSFT) to get their stock back chea[ and increase share value.
The big boost in all stocks are the feds low, near zero interests rates, and the huge infusion of new dollars into the economy each month because of the terrible economy Obama has created. When the fed quits infusing money, and McDonald's no longer keeps adding product to their dollar menu, MSFT, and other stocks will correct...otherwise little drop, more than likely will rise.