Upgrades
Clear Channel (CCU)- CL King Neutral » Strong Buy
Chartered Semi (CHRT)- HSBC Securities Underweight » Neutral
Dionex (DNEX)- Wedbush Morgan Hold » Buy $74 » $83
PetroChina (PTR)- Credit Suisse Underperform » Neutral
GSI Technology (GSIT)- Stanford Research Hold » Buy
Capitol Bancorp (CBC)- FTN Midwest Sell » Neutral
Garmin (GRMN)- Needham & Co Hold » Buy
Getty Images (GYI)- William Blair Mkt Perform » Outperform
MFA Mortgage (MFA)- Stifel Nicolaus Hold » Buy
Anworth Mortgage (ANH)- Stifel Nicolaus Hold » Buy
Bristol-Myers (BMY)- Cowen & Co Neutral » Outperform
CA Inc (CA)- RBC Capital Mkts Sector Perform » Outperform
DIRECTV (DTV)- Bernstein Mkt Perform » Outperform
Frontier Oil (FTO)- Soleil Hold » Buy
Valero Energy (VLO)- Soleil Hold » Buy
Flowserve (FLS)- Bear Stearns Peer Perform » Outperform
Maxim Integrated (MXIM)- Bear Stearns Peer Perform » Outperform
Clear Channel Outdoor (CCO)- Bear Stearns Peer Perform » Outperform
Celestica (CLS) Credit Suisse Underperform » Neutral
Motorola (MOT) Citigroup Hold » Buy
Affiliated Computer (ACS)- RBC Capital Mkts Sector Perform » Outperform
PepsiAmericas (PAS)- Bear Stearns Underperform » Peer Perform
Electronic Arts (ERTS)- Broadpoint Capital Neutral » Buy
Autoliv (ALV)- Deutsche Securities Hold » Buy
Owens-Illinois (OI)- Deutsche Securities Hold » Buy
GlaxoSmithKline (GSK)- HSBC Securities Underweight » Neutral
Medarex (MEDX)- Banc of America Sec Sell » Neutral
Infinera (INFN)- Jefferies & Co Hold » Buy
Walt Disney (DIS)- Oppenheimer Perform » Outperform
Downgrades
Cerner (CERN)- Canaccord Adams Buy » Hold
AmericanWest Banc (AWBC)- DA Davidson Buy » Neutral
Maxim Integrated (MXIM)- UBS Buy » Neutral
Maxim Integrated (MXIM)- Deutsche Securities Buy » Hold
Yahoo! (YHOO)- Susquehanna Financial Positive » Neutral
RF Micro Device (RFMD)- Needham & Co Strong Buy » Buy
Maxim Integrated (MXIM)- William Blair Mkt Perform » Underperform
TiVo (TIVO)- William Blair Mkt Perform » Underperform
Newell Rubbermaid (NWL)- BMO Capital Markets Outperform » Market Perform
Landstar System (LSTR)- Stifel Nicolaus Buy » Hold
Avid Tech (AVID)- Kaufman Bros Hold » Sell
American Express (AXP)- Sandler O’Neill Buy » Hold
Maxim Integrated (MXIM)- Citigroup Buy » Sell
Exar (EXAR)- Piper Jaffray Buy » Neutral
St. Mary Lnd/Expl (SM )- KeyBanc Capital Mkts Buy » Hold
Trident Microsystems (TRID)- Roth Capital Hold » Sell
Maxim Integrated (MXIM)- Jefferies & Co Buy » Hold
Google (GOOG)- Jefferies & Co Buy » Hold
FNB Corp. (NC) (FNBN)- Keefe Bruyette Outperform » Mkt Perform
United Dominion (UDR)- Keefe Bruyette Outperform » Mkt Perform
Audible (ADBL)- Citigroup Buy » Hold
Syngenta (SYT)- UBS Neutral » Sell
Lowe’s (LOW )-Citigroup Buy » Hold
AstraZeneca (AZN)- HSBC Securities Overweight » Neutral
Mentor Corp (MNT)- Merriman Curhan Ford Buy » Neutral
TiVo (TIVO)- Friedman Billings Mkt Perform » Underperform
