Today's Upgrades / Downgrades

Here are today's early calls


UPGRADES

Building Materials BLG DA Davidson Neutral » Buy
Natl Instruments NATI Sanders Morris Harris Neutral » Buy
Precision Drilling PDS BMO Capital Markets Underperform » Market Perform
Universal Truckload Services UACL Morgan Keegan Mkt Perform » Outperform
Rackable Systems RACK Caris & Company Below Average » Average
AU Optronics AUO HSBC Securities Neutral » Overweight
FMC Corp FMC Longbow Neutral » Buy
Foundry Ntwks FDRY CE Unterberg Towbin Market Perform » Buy
Dime Community DCOM FTN Midwest Sell » Neutral
AutoZone AZO Kevin Dann Sell » Hold
Foundry Ntwks FDRY Sanders Morris Harris Hold » Buy
Columbia Sportswear COLM Caris & Company Below Average » Average
Oplink Comms OPLK Needham & Co Hold » Buy
Cymer CYMI Needham & Co Hold » Buy
Flow FLOW McAdams,Wright,Ragen Hold » Buy
Aeropostale ARO Citigroup Sell » Hold
McAfee MFE WR Hambrecht Hold » Buy
Grant Prideco GRP Calyon Securities Neutral » Buy
Universal Truckload Services UACL Stifel Nicolaus Hold » Buy
National City NCC Stifel Nicolaus Sell » Hold
Bankunited Fin BKUNA Stifel Nicolaus Hold » Buy
Embarq EQ RBC Capital Mkts Sector Perform » Outperform
Snap-On SNA Matrix Research Hold » Buy
Convergys CVG BMO Capital Markets Underperform » Market Perform
Genesis Microchip GNSS Roth Capital Sell » Hold
Cash America CSH Roth Capital Hold » Buy
Microtune TUNE Roth Capital
Nordstrom JWN Citigroup Hold » Buy
SPX Corp SPW Citigroup Hold » Buy
Gap Inc GPS Citigroup Hold » Buy
Brunswick BC Rochdale Securities Sell » Hold
Old Dominion ODFL Credit Suisse Neutral » Outperform $34
Alaska Air ALK JP Morgan Neutral » Overweight
Penn Natl Gaming PENN Jefferies & Co Hold » Buy
Rightnow Tech RNOW Jefferies & Co Hold » Buy


DOWNGRADES

RadiSys RSYS Merriman Curhan Ford Buy » Neutral
3M MMM Hilliard Lyons Buy » Long-term Buy
QLogic QLGC Caris & Company Above Average » Average
Sierra Wireless SWIR Piper Jaffray Outperform » Market Perform
CTC Media CTCM UBS Neutral » Reduce
Volcom VLCM Piper Jaffray Outperform » Market Perform
Taiwan Semi TSM HSBC Securities Overweight » Neutral
Isilon Systems ISLN AG Edwards Buy » Hold
Cutera CUTR Lazard Capital Buy » Hold
Riverbed Technology RVBD Janco Partners Buy » Mkt Perform
Diomed DIO Roth Capital Buy » Hold
Marvell MRVL Matrix Research Hold » Strong Sell
Darden Restaurants DRI Matrix Research Buy » Hold
AutoNation AN Bear Stearns Outperform » Peer Perform