UPGRADES
Invitrogen (IVGN)- First Analysis Sec Equal-Weight » Overweight
Hercules Offshore (HERO)- CapitalOne southcoast Neutral » Add
Apollo Group (APOL)- First Analysis Sec Equal-Weight » Overweight
Yahoo! (YHOO)- Stifel Nicolaus Hold » Buy
Continental Air (CAL)- Soleil Hold » Buy
Partner Comms (PTNR)- UBS Neutral » Buy
Yahoo! (YHOO)- Soleil Sell » Hold
Petro-Canada (PCZ)- Banc of America Sec Neutral » Buy
Old Dominion (ODFL)- Robert W. Baird Neutral » Outperform
Con-way (CNW)- Robert W. Baird Neutral » Outperform
Campbell Soup (CPB)- Lehman Brothers Equal-Weight » Overweight
MeadWestvaco (MWV)- Citigroup Hold » Buy
DOWNGRADES
PDL BioPharma (PDLI)- Credit Suisse Outperform » Neutral
McClatchy (MNI)- Wachovia Mkt Perform » Underperform
Jo-Ann Stores (JAS)- Soleil Buy » Hold
Fifth Third (FITB)- BMO Capital Markets Outperform » Market Perform
Yahoo! (YHOO)- Needham Buy » Hold
NASDAQ (NDAQ)- Credit Suisse Outperform » Neutral
Benihana (BNHN)- KeyBanc Capital Mkts Buy » Hold
Finisar (FNSR)- Piper Jaffray Buy » Neutral
Brasil Telecom Part (BRP)- JP Morgan Neutral » Underweight
Anheuser-Busch (BUD)- UBS Buy » Neutral
Brasil Telecom (BTM)- JP Morgan Neutral » Underweight
Accuray (ARAY)- UBS Neutral » Sell
Applied Bio (ABI)- UBS Buy » Neutral
WD-40 Company (WDFC)- JP Morgan Neutral » Underweight
Universal Health (UHS)- Wachovia Outperform » Mkt Perform
Visit the ValuePlays Bookstore for Great Investing Books