Upgrades
Diamond Foods (DMND)- Piper Jaffray Neutral » Buy
Vertex Pharm (VRTX)- Lazard Capital Sell » Hold
Qualcomm (QCOM)- Am Tech/JSA Research (old) Neutral » Buy
Third Wave (TWTI)- First Analysis Sec Equal-Weight » Overweight
Airmedia (AMCN)- Susquehanna Financial Neutral » Positive
Ruddick Corp (RDK)- JP Morgan Neutral » Overweight
Cal Dive Intl (DVR)- JP Morgan Neutral » Overweight
NBTY Inc (NTY)- RBC Capital Mkts Sector Perform » Outperform
Thornburg Mortg (TMA)- Bear Stearns Underperform » Peer Perform
DaVita (DVA )- Piper Jaffray Neutral » Buy
Cash America (CSH)- JMP Securities Mkt Perform » Mkt Outperform
Pearson Plc (PSO)- Lehman Brothers Underweight » Equal-weight
Nokia (NOK)- Oppenheimer Perform » Outperform
Downgrades
Spartech Corp (SEH)- First Analysis Sec Overweight » Equal-Weight
Tesoro (TSO)- Caris & Company Above Average » Below Average
Sunoco (SUN)- Caris & Company Above Average » Below Average
Holly (HOC)- Caris & Company Above Average » Below Average
Frontier Oil (FTO)- Caris & Company Above Average » Below Average
Valero Energy (VLO)- Caris & Company Above Average » Average
Western Refining (WNR)- Caris & Company Average » Below Average
DivX (DIVX)- Barrington Research Outperform » Mkt Perform
Delta Air Lines (DAL)- JP Morgan Overweight » Neutral
Continental Air (CAL)- JP Morgan Overweight » Neutral
AMR Corp (AMR)- JP Morgan Overweight » Underweight
Alaska Air (ALK)- JP Morgan Overweight » Underweight
US Airways (LCC)- JP Morgan Overweight » Underweight
UAL Corp. (UAUA)- JP Morgan Overweight » Underweight
Northwest Airlines (NWA)- JP Morgan Overweight » Underweight
Pinnacle (PNK)- Morgan Joseph Buy » Hold
Boyd Gaming (BYD)- Morgan Joseph Buy » Hold
Lowe’s (LOW)- Morgan Keegan Mkt Perform » Underperform
Genomic Health (GHDX)- JP Morgan Overweight » Neutral
Kroger (KR)- JP Morgan Neutral » Underweight
Level 3 (LVLT)- Jefferies & Co Buy » Hold
Park-Ohio (PKOH)- Morgan Joseph Buy » Hold
Whitney Holding (WTNY)- JP Morgan Neutral » Underweight
KLA-Tencor (KLAC)- Oppenheimer Perform » Underperform
Permian Basin Royalty Tr. (PBT)- Citigroup Buy » Hold
Werner Enterprises (WERN)- Bear Stearns Peer Perform » Underperform
Credit Suisse (CS)- Keefe Bruyette Outperform » Mkt Perform
UBS AG (UBS)- Keefe Bruyette Mkt Perform » Underperform
Network Appliance (NTAP)- Robert W. Baird Outperform » Neutral
Liberty Media Capital (LCAPA)- Deutsche Securities Buy » Hold
