UPGRADES
Microchip (MCHP)- AmTech Research Hold » Buy
McKesson (MCK)- Leerink Swann Mkt Perform » Outperform
Houston Wire & Cable (HWCC)- William Blair Mkt Perform » Outperform
ITT Educational (ESI)- William Blair Mkt Perform » Outperform
AMR Corp (AMR)- Soleil Sell » Buy
Beazer Homes (BZH)- UBS Sell » Neutral
Apollo Group (APOL)- Credit Suisse Neutral » Outperform
Pepsi Bottling (PBG)- JP Morgan Underweight » Neutral
Fifth Third (FITB)- Keefe Bruyette Mkt Perform » Outperform
Cott (COT)- CIBC Wrld Mkts Sector Perform » Sector Outperform
Portland Gen Elec (POR)- JP Morgan Underweight » Neutral
DOWNGRADES
IDEX Corp (IEX)- Janney Mntgmy Scott Buy » Neutral
BioMed Realty (BMR)- Stifel Nicolaus Buy » Hold
OraSure Tech (OSUR)- Needham Buy » Hold
Biovail (BVF)- CIBC Wrld Mkts Sector Perform » Sector Underperform
DeVRY (DV)- Credit Suisse Outperform » Neutral
Sybase (SY)- Banc of America Sec Buy » Neutral
Frontier Fincl (FTBK)- Keefe Bruyette Mkt Perform » Underperform
Intl Rectifier (IRF)- Citigroup Hold » Sell
SanDisk (SNDK)- Citigroup Buy » Hold
ProLogis (PLD)- Banc of America Sec Buy » Neutral
Owens & Minor (OMI)- Banc of America Sec Neutral » Sell
Polypore Intl (PPO)- JP Morgan Overweight » Neutral
Denny’s (DENN)- Merriman Curhan Ford Buy » Neutral
Symantec (SYMC)- Friedman Billings Outperform » Mkt Perform
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