Upgrades
Gulfmark Offshore (GLF)- CapitalOne southcoast Neutral » Add
Plains All Amer (PAA)- Morgan Keegan Mkt Perform » Outperform
American Axle (AXL)- Robert W. Baird Neutral » Outperform
Shoe Carnival (SCVL)- Soleil Sell » Hold
Genesco (GCO)- Susquehanna Financial Neutral » Positive
Big Lots (BIG)- Piper Jaffray Neutral » Buy
AnnTaylor (ANN)- Friedman Billings Mkt Perform » Outperform
Marvell (MRVL)- Oppenheimer Perform » Outperform
ADC Telecom (ADCT)- JP Morgan Neutral » Overweight
Citi Trends (CTRN)- JP Morgan Neutral » Overweight
Wet Seal (WTSLA)- JP Morgan Neutral » Overweight
Smith & Nephew (SNN)- Bernstein Underperform » Mkt Perform
Marvell (MRVL)- JP Morgan Neutral » Overweight
NASDAQ (NDAQ)- Lehman Brothers Equal-Weight » Overweight
Molina Healthcare (MOH)- Deutsche Securities Sell » Hold
Clean Harbors (CLHB)- Robert W. Baird Neutral » Outperform
Downgrades
Oritani Financial (ORIT)- Sterne Agee Buy » Hold
Drew Industries (DW)- BB&T Capital Mkts Buy » Hold
eLong (LONG)- Citigroup Hold » Sell
Sigma Designs (SIGM)- Lazard Capital Buy » Hold
Dell (DELL)- Cross Research Hold » Sell
ICT Group (ICTG)- Stifel Nicolaus Buy » Hold
Ryanair Hldgs (RYAAY)- UBS Buy » Neutral
Sigma Designs (SIGM)- RBC Capital Mkts Outperform » Sector Perform
Spectrum Brands (SPC)- BMO Capital Markets Outperform » Market Perform
AptarGroup (ATR)- KeyBanc Capital Mkts Buy » Hold
Integrated Device (IDTI)- Cowen & Co Outperform » Neutral
Sigma Designs (SIGM)- Roth Capital Buy » Hold
Kosan Biosciences (KOSN)- Roth Capital Buy » Hold
Costco (COST)- Piper Jaffray Buy » Neutral
SW Energy (SWN)- Friedman Billings Outperform » Mkt Perform
Ashland (ASH)- JP Morgan Neutral » Underweight
J. Crew (JCG)- Citigroup Hold » Sell
J. Crew (JCG)- Wachovia Outperform » Mkt Perform
