Monday's Upgrades and Downgrades

UPGRADES

Take-Two TTWO MDB Capital Group Neutral » Buy
Varian Semi VSEA Credit Suisse Neutral » Outperform
Hutchison Telcom HTX Bear Stearns Peer Perform » Outperform
BearingPoint BE Jefferies & Co Underperform » Hold
Janus Capital JNS UBS Sell » Neutral
Bruker BioSciences BRKR Bear Stearns Peer Perform » Outperform
JB Hunt Trans JBHT Banc of America Sec Sell » Neutral
Werner Enterprises WERN Banc of America Sec Sell » Neutral
Pall Corp PLL Lehman Brothers Equal-weight » Overweight
Polaris Inds PII Rochdale Securities Hold » Buy
Edwards Lifesci EW Piper Jaffray Market Perform » Outperform

DOWNGRADES

Concur Tech CNQR DA Davidson Neutral » Underperform
BHP Limited BHP Credit Suisse Outperform » Neutral
State Street STT Punk, Ziegel & Co Mkt Perform » Sell
XM Satellite XMSR Wedbush Morgan Hold » Sell
SupportSoft SPRT Needham & Co Buy » Hold
Cavium Networks CAVM Needham & Co Buy » Hold
Hansen Natural HANS Stifel Nicolaus Buy » Hold
Leap Wireless LEAP Soleil Buy » Hold
COLT Telecom COLT Credit Suisse Outperform » Neutral
Business Objects BOBJ Credit Suisse Outperform » Neutral
Monster Worldwide MNST Wachovia Outperform » Mkt Perform
T. Rowe Price TROW UBS Buy » Neutral
Electronic Arts ERTS Bear Stearns Outperform » Peer Perform
Clearwire CLWR Bear Stearns Outperform » Peer Perform
Signature Bank SBNY Sun Trust Rbsn Humphrey Buy » Neutral
Hurray Holding HRAY Susquehanna Financial Positive » Neutral
KongZhong KONG Susquehanna Financial Neutral » Negative
Arcelor Mittal MT Banc of America Sec Buy » Neutral
Walgreen WAG Banc of America Sec Buy » Sell