UPGRADES BEA Systems BEAS Canaccord Adams Hold » Buy Encore Energy ENP Stanford Research Hold » Buy Ditech DITC Wedbush Morgan Sell » Hold Virgin Mobile USA VM Stanford Research Sell » Hold Hasbro HAS BMO Capital Markets Underperform » Market Perform Aon AOC Stifel Nicolaus Hold » Buy Sunoco SUN Bernstein Mkt Perform » Outperform Broadcom BRCM Credit Suisse Underperform » Neutral VeraSun Energy VSE Credit Suisse Underperform » Neutral JC Penney JCP Credit Suisse Underperform » Neutral Tyco TYC Citigroup Sell » Hold Expedia EXPE Citigroup Hold » Buy Marathon Oil MRO Deutsche Securities Hold » Buy Chevron CVX Deutsche Securities Sell » Hold ConocoPhillips COP Deutsche Securities Sell » Hold CNA Financial CNA Bernstein Mkt Perform » Outperform Chubb CB Bernstein Mkt Perform » Outperform Travelers TRV Bernstein Mkt Perform » Outperform Innospec IOSP JP Morgan Neutral » Overweight NOVA Chemicals NCX Banc of America Sec Sell » Neutral Starent Networks STAR Lehman Brothers Equal-weight » Overweight China TechfaithEOG Resources EOG BMO Capital Markets Outperform » Market Perform
DOWNGRADES
Autodesk ADSK Kaufman Bros Buy » Hold Wells Fargo WFC Keefe Bruyette Outperform » Mkt Perform THQ Inc THQI Piper Jaffray Buy » Neutral Activision ATVI Piper Jaffray Buy » Neutral Gamestop GME Piper Jaffray Buy » Neutral Autodesk ADSK Needham & Co Strong Buy » Buy The9 Ltd NCTY Citigroup Buy » Hold Hollywood Media HOLL Roth Capital Buy » Hold Unica UNCA Wachovia Outperform » Mkt Perform NuVasive NUVA Wachovia Outperform » Mkt Perform Clearwire CLWR Wachovia Outperform » Mkt Perform Windstream WIN Bear Stearns Outperform » Peer Perform Quanta Services PWR Sun Trust Rbsn Humphrey Buy » Neutral Target TGT UBS Buy » Neutral Global Cash Access GCA Deutsche Securities Buy » Hold Microsemi MSCC JP Morgan Overweight » Neutral Starbucks SBUX Robert W. Baird Outperform » Neutral FedEx FDX Robert W. Baird Outperform » Neutral Wireless CNTF Jefferies & Co Hold » Buy Hawaiian Electric HE Robert W. Baird Neutral » Outperform WNS WNS Deutsche Securities Hold » Buy
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