UPGRADES
BEA Systems BEAS Canaccord Adams Hold » Buy
Encore Energy ENP Stanford Research Hold » Buy
Ditech DITC Wedbush Morgan Sell » Hold
Virgin Mobile USA VM Stanford Research Sell » Hold
Hasbro HAS BMO Capital Markets Underperform » Market Perform
Aon AOC Stifel Nicolaus Hold » Buy
Sunoco SUN Bernstein Mkt Perform » Outperform
Broadcom BRCM Credit Suisse Underperform » Neutral
VeraSun Energy VSE Credit Suisse Underperform » Neutral
JC Penney JCP Credit Suisse Underperform » Neutral
Tyco TYC Citigroup Sell » Hold
Expedia EXPE Citigroup Hold » Buy
Marathon Oil MRO Deutsche Securities Hold » Buy
Chevron CVX Deutsche Securities Sell » Hold
ConocoPhillips COP Deutsche Securities Sell » Hold
CNA Financial CNA Bernstein Mkt Perform » Outperform
Chubb CB Bernstein Mkt Perform » Outperform
Travelers TRV Bernstein Mkt Perform » Outperform
Innospec IOSP JP Morgan Neutral » Overweight
NOVA Chemicals NCX Banc of America Sec Sell » Neutral
Starent Networks STAR Lehman Brothers Equal-weight » Overweight
China TechfaithEOG Resources EOG BMO Capital Markets Outperform » Market Perform
DOWNGRADES
Autodesk ADSK Kaufman Bros Buy » Hold
Wells Fargo WFC Keefe Bruyette Outperform » Mkt Perform
THQ Inc THQI Piper Jaffray Buy » Neutral
Activision ATVI Piper Jaffray Buy » Neutral
Gamestop GME Piper Jaffray Buy » Neutral
Autodesk ADSK Needham & Co Strong Buy » Buy
The9 Ltd NCTY Citigroup Buy » Hold
Hollywood Media HOLL Roth Capital Buy » Hold
Unica UNCA Wachovia Outperform » Mkt Perform
NuVasive NUVA Wachovia Outperform » Mkt Perform
Clearwire CLWR Wachovia Outperform » Mkt Perform
Windstream WIN Bear Stearns Outperform » Peer Perform
Quanta Services PWR Sun Trust Rbsn Humphrey Buy » Neutral
Target TGT UBS Buy » Neutral
Global Cash Access GCA Deutsche Securities Buy » Hold
Microsemi MSCC JP Morgan Overweight » Neutral
Starbucks SBUX Robert W. Baird Outperform » Neutral
FedEx FDX Robert W. Baird Outperform » Neutral Wireless CNTF Jefferies & Co Hold » Buy
Hawaiian Electric HE Robert W. Baird Neutral » Outperform
WNS WNS Deutsche Securities Hold » Buy
