AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Byline: Tom Daykin
Dec. 20--Sensient Technologies Corp.'s stock price dropped 5 percent Tuesday after an analyst's downgrade followed news that the company's plan to sell its Red Star Yeast division had fallen through.
Milwaukee-based Sensient closed at $20 a share, down $1.06, in heavy trading. That drop came a fter Bank of America Securities analyst Bill Leach downgraded Sensient from a "strong buy" to a "buy" recommendation.
Leach issued his recommendation the day after Sensient announced that it would not be selling Red Star to Lesaffre et Compagnie, a French yeast manufacturer, for $125 million.
"It's a fairly significant negative," …