UPGRADES
Tempur-Pedic TPX Stifel Nicolaus Hold » Buy
Celanese CE BB&T Capital Mkts Hold » Buy
Pixelworks PXLW Jefferies & Co Underperform » Hold
American Eagle AEO Wachovia Mkt Perform » Outperform
Office Depot ODP JP Morgan Neutral » Overweight
CIT Group CIT Credit Suisse Neutral » Outperform
CVS Corp CVS JP Morgan Neutral » Overweight
DOWNGRADES
Vonage VG Stanford Research Hold » Sell
Tesoro Petroleum TSO Credit Suisse Outperform » Neutral
Resources Connect RECN Stifel Nicolaus Buy » Hold
Health Care Ppty HCP UBS Buy » Neutral
Resources Connect RECN Robert W. Baird Outperform » Neutral
Alon USA Energy ALJ Credit Suisse Outperform » Neutral
CNOOC Ltd CEO Bear Stearns Peer Perform » Underperform
Resources Connect RECN Bear Stearns Outperform » Peer Perform
Agrium AGU CIBC Wrld Mkts Sector Outperform » Sector Perform
Statoil ASA STO JP Morgan Overweight » Neutral
Resources Connect RECN JMP Securities Mkt Outperform » Mkt Perform
Resources Connect RECN Piper Jaffray Outperform » Market Perform
Health Care Ppty HCP Friedman Billings Outperform » Mkt Perform
Under Armour UA UBS Buy » Neutral
VeriSign VRSN Credit Suisse Outperform » Neutral
Walgreen WAG JP Morgan Overweight » Neutral
Staples SPLS JP Morgan Neutral » Underweight