UPGRADES
Northrop Grumman (NOC)= Credit Suisse Neutral » Outperform
Rackable Systems (RACK)= Canaccord Adams Sell » Hold
Open Text (OTEX)= Canaccord Adams Hold » Buy
Finlay Enterprises (FNLY)= B. Riley & Co Sell » Neutral
USANA (USNA)= Wedbush Morgan Hold » Buy
Performance Food (PFGC)= UBS Sell » Neutral
Weatherford (WFT)= Wachovia Mkt Perform » Outperform
Baker Hughes (BHI)= Wachovia Mkt Perform » Outperform
ENGlobal (ENG)= SMH Capital Sell » Buy
Hecla Mining (HL)= BMO Capital Markets Underperform » Market Perform
Verifone (PAY)= Morgan Keegan Mkt Perform » Outperform
Global Payment (GPN)= Morgan Keegan Mkt Perform » Outperform
Caterpillar (CAT)= Stifel Nicolaus Hold » Buy
REX Stores (RSC)= BMO Capital Markets Market Perform » Outperform
Idenix Pharma (IDIX)= Susquehanna Financial Neutral » Positive
Novatel Wireless (NVTL)= Cowen & Co Neutral » Outperform
Equinix (EQIX)= Wachovia Mkt Perform » Outperform
Dyax (DYAX)= Susquehanna Financial Neutral » Positive
Nokia (NOK)= RBC Capital Mkts Sector Perform » Outperform
Bankrate (RATE)= Roth Capital Hold » Buy
Imation (IMN)= Brean Murray Hold » Buy
InterNAP (INAP)= Wachovia Mkt Perform » Outperform
TeleTech (TTEC)= Sun Trust Rbsn Humphrey Neutral » Buy
Dun & Bradstreet (DNB)= JP Morgan Neutral » Overweight
Expeditors Intl (EXPD)= JP Morgan Neutral » Overweight
Verizon (VZ)= Davenport Neutral » Buy
Healthspring (HS)= Citigroup Hold » Buy
Advanced Medical Optics (EYE)= Jefferies & Co Hold » Buy
Continental Air (CAL)= Bear Stearns Peer Perform » Outperform
Medical Properties Trust (MPW)= Friedman Billings Underperform » Mkt Perform
Seaspan (SSW)= Credit Suisse Neutral » Outperform
Illumina (ILMN)= UBS Neutral » Buy
Nordic American Tanker (NAT)= UBS Sell » Neutral
Taubman Centers (TCO)= UBS Neutral » Buy
Honeywell (HON)= JP Morgan Underweight » Neutral
SPX Corp (SPW)= JP Morgan Underweight » Overweight
Acergy (ACGY)= UBS Neutral » Buy
Nuance Communications (NUAN)= Citigroup Hold » Buy
Dell (DELL)= JP Morgan Neutral » Overweight
Illumina (ILMN)= Lehman Brothers Equal-weight » Overweight
Illumina (ILMN)= GARP Research Neutral » Buy
Comstock Homebuilding (CHCI)= Robert W. Baird Underperform » Neutral
Tenneco (TEN)= Robert W. Baird Underperform » Neutral
American Axle (AXL)= Robert W. Baird Underperform » Neutral
DOWNGRADES
Research In Motion (RIMM)= Canaccord Adams Buy » Hold
Amcomp (AMCP)= Friedman Billings Outperform » Mkt Perform
Universal Stainless/Alloy (USAP)= CL King Strong Buy » Neutral
Ralcorp Holdings (RAH)= Longbow Buy » Neutral
Logitech Intl SA (LOGI)= Avondale Partners Mkt Outperform » Mkt Perform
Countrywide (CFC)= Credit Suisse Outperform » Neutral
Jamba (JMBA)= Wedbush Morgan Buy » Hold
Dress Barn (DBRN)= Stanford Research Buy » Hold
Bankunited Fin (BKUNA)= Sandler O’Neill Hold » Sell
West Marine (WMAR)= Morgan Joseph Buy » Hold
Brown & Brown (BRO)= Wachovia Outperform » Mkt Perform
Select Comfort (SCSS)= William Blair Outperform » Mkt Perform
AnnTaylor (ANN)= UBS Buy » Neutral $38 » $22
Wright Express (WXS)= JP Morgan Overweight » Neutral
Juniper Networks (JNPR)= JMP Securities Mkt Outperform » Mkt Perform
Atwood Oceanics (ATW)= Oppenheimer Buy » Neutral
Diamond Offshore (DO)= Oppenheimer Buy » Neutral
Juniper Networks (JNPR)= JP Morgan Overweight » Neutral
American Express (AXP)= Friedman Billings Mkt Perform » Underperform
Dyncorp Intl (DCP)= CIBC Wrld Mkts Sector Outperform » Sector Perform
WW Grainger (GWW)= JP Morgan Neutral » Underweight
STMicroelectronics (STM)= Credit Suisse Outperform » Neutral
Great Basin Gold (GBN)= Deutsche Securities Buy » Hold
DRDGOLD (DROOY)= Deutsche Securities Buy » Hold
Harmony Gold (HMY)= Deutsche Securities Hold » Sell
Anglogold (AU)= Deutsche Securities Hold » Sell
Gold Fields (GFI)= Deutsche Securities Hold » Sell
Commercial Vehicle Group (CVGI)= Robert W. Baird Neutral » Underperform
