Upgrades
- Wolseley (WOSYY) upgraded by Morgan Stanley from Equal Weight to Overweight
- Red Hat (RHT) upgraded by Piper Jaffray from Neutral to Overweight
- U.S. Steel (X) upgraded by Morgan Stanley from Equal Weight to Overweight
- ATK (ATK) upgraded by Credit Suisse from Neutral to Outperform
- NuStar GP Holdings (NSH) upgraded by Credit Suisse from Underperform to Neutral
- Heartland Express (HTLD) upgraded by Wells Fargo from Market Perform to Outperform
- Western Refining (WNR) upgraded by UBS from Neutral to Buy
- Synutra (SYUT) upgraded by Oppenheimer from Perform to Outperform
- Norsk Hydro (NHYDY) upgraded by Citigroup from Sell to Neutral
- Pernix Therapeutics (PTX) upgraded by Cantor from Sell to Hold
- Qualcomm (QCOM) upgraded by Goldman from Buy to Conviction Buy
- Transocean (RIG) upgraded by Guggenheim from Neutral to Buy
- NuStar Energy (NS) upgraded by Credit Suisse from Underperform to Neutral
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Downgrades
- Volvo (VOLVY) downgraded by Barclays from Overweight to Equal Weight
- Tesco PLC (TSCDY) downgraded by HSBC from Overweight to Neutral
- Nucor (NUE) downgraded by Morgan Stanley from Overweight to Equal Weight
- WhiteHorse Finance (WHF) downgraded by Barclays from Overweight to Equal Weight
- Dean Foods (DF) downgraded by Credit Suisse from Outperform to Neutral
- Computer Programs (CPSI) downgraded by First Analysis from Overweight to Equal Weight
- Aon plc (AON) downgraded by UBS from Buy to Neutral
- Amedisys (AMED) downgraded by Deutsche Bank from Hold to Sell
- WhiteHorse Finance (WHF) downgraded by BB&T from Buy to Hold
- Denbury Resources (DNR) downgraded by Raymond James from Outperform to Market Perform
- Banco do Brasil (BDORY) downgraded by JPMorgan from Overweight to Neutral
- Air Methods (AIRM) downgraded by WallachBeth from Buy to Hold
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