Upgrades
- Joy Global (JOY) upgraded by Barclays from Equal Weight to Overweight
- Micron (MU) upgraded by Goldman from Sell to Neutral
- Air Products (APD) upgraded by UBS from Neutral to Buy
- Praxair (PX) upgraded by UBS from Neutral to Buy
- Monster Beverage (MNST) upgraded by Wells Fargo from Market Perform to Outperform
- American Airlines (AAL) upgraded by Cowen from Market Perform to Outperform
- Chipotle (CMG) upgraded by BofA/Merrill from Underperform to Neutral
- L-3 Communications (LLL) upgraded by BofA/Merrill from Underperform to Buy
- Northrop Grumman (NOC) upgraded by BofA/Merril from Neutral to Buy
- Eastman Chemical (EMN) upgraded by CLSA from Outperform to Buy
- Jarden (JAH) upgraded by Raymond James from Market Perform to Outperform
- Newell Rubbermaid (NWL) upgraded by Raymond James from Market Perform to Outperform
- Werner (WERN) upgraded by Raymond James from Outperform to Strong Buy
- Maximus (MMS) upgraded by Raymond James from Market Perform to Outperform
- Siemens (SIEGY) upgraded by Nomura from Neutral to Buy
- BASF (BASFY) upgraded by Societe Generale from Hold to Buy
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Downgrades
- Tiffany (TIF) downgraded by Cowen from Outperform to Market Perform
- Restoration Hardware (RH) downgraded by Cowen from Outperform to Market Perform
- Nokia (NOK) downgraded by BofA/Merrill from Buy to Neutral
- Genuine Parts (GP) downgraded by JPMorgan from Overweight to Neutral
- Xerox (XRX) downgraded by Morgan Stanley from Overweight to Equal Weight
- Duke Realty (DRE) downgraded by BMO Capital from Outperform to Market Perform
- Trex Company (TREX) downgraded by BB&T from Buy to Hold
- U.S. Steel (X) downgraded by Macquarie from Outperform to Neutral
- Mondelez (MDLZ) downgraded by Susquehanna from Positive to Neutral
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