Upgrades
- Pernod Ricard (PDRDY) upgraded by Goldman from Neutral to Buy
- Madison Square Garden (MSG) upgraded by Jefferies from Hold to Buy
- Microsoft (MSFT) upgraded by BofA/Merrill from Underperform to Neutral
- Newell Rubbermaid (NWL) upgraded by B. Riley from Neutral to Buy
- Celgene (CELG) upgraded by JPMorgan from Neutral to Overweight
- Steven Madden (SHOO) upgraded by Telsey Advisory from Market Perform to Outperform
- SanDisk (SNDK) upgraded by Morgan Stanley from Equal Weight to Overweight
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Downgrades
- AGCO (AGCO) downgraded by UBS from Neutral to Sell
- EZchip (EZCH) downgraded by Brean Capital from Buy to Hold
- Crocs (CROX) downgraded by Piper Jaffray from Overweight to Neutral
- Banco Santander (SAN) downgraded by JPMorgan from Overweight to Neutral
- Osiris (OSIR) downgraded by Brean Capital from Buy to Hold
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Upgrades & Downgrades provided by Theflyonthewall.com 
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