Upgrades
Morgan Stanley (MS)- Punk, Ziegel & Co Sell » Mkt Perform
Oritani Financial (ORIT)- Sterne Agee Hold » Buy
Lindsay Manu (LNN)- Boenning & Scattergood Market Perform » Market Outperform
Rent-A-Center (RCII)- Stifel Nicolaus Hold » Buy
Abbott Labs (ABT)- Wachovia Mkt Perform » Outperform
Global Industries (GLBL)- CapitalOne southcoast Neutral » Add
TeleTech (TTEC)- Wachovia Mkt Perform » Outperform
Micromet (MITI)- RBC Capital Mkts Sector Perform » Outperform
Netflix (NFLX)- Cantor Fitzgerald Hold » Buy
Zimmer Hldgs (ZMH)- Lehman Brothers Equal-weight » Overweight
Fannie Mae (FNM)- Keefe Bruyette Mkt Perform » Outperform
Freddie Mac (FRE)- Keefe Bruyette Mkt Perform » Outperform
Downgrades
Towerstream (TWER)- Canaccord Adams Buy » Hold
Texas Instruments (TXN)- AmTech Research Buy » Neutral
Banco Sant. P.R. (SBP)- Sandler O’Neill Buy » Hold
Great Plains Engy (GXP)- Wachovia Outperform » Mkt Perform
InterNAP (INAP)- Jefferies & Co Buy » Underperform
Diamond Mngmt (DTPI)- JMP Securities Mkt Perform » Mkt Underperform
BladeLogic (BLOG)- Cowen & Co Outperform » Neutral
Assured Guaranty (AGO)- Citigroup Buy » Hold
China Sunergy (CSUN)- Jefferies & Co Hold » Underperform
Towerstream (TWER)- Morgan Joseph Buy » Hold
US Airways (LCC)- Lehman Brothers Overweight » Equal-weight
Air Tran Holdings (AAI)- Lehman Brothers Overweight » Equal-weight
Panera Bread (PNRA)- JP Morgan Overweight » Neutral
First Horizon (FHN)- JP Morgan Overweight » Neutral
SanDisk (SNDK)- JP Morgan Overweight » Neutral
AMR Corp (AMR)- UBS Neutral » Sell
Delta Air Lines (DAL)- UBS Buy » Neutral
Continental Air (CAL)- UBS Buy » Neutral
US Airways (LCC)- UBS Buy » Neutral
Northwest Airlines (NWA)- UBS Buy » Neutral
UAL Corp. (UAUA)- UBS Buy » Neutral
Amgen (AMGN)- Wachovia Outperform » Mkt Perform
ICICI Bank (IBN)- Jefferies & Co Buy » Underperform
Disclosure (“none” means no position):
