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Upgrades & Downgrades - August 02
(last updated 4:35pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

ACT ManufacturingACTMNeedham & CoBuy» Strong Buy History
AEGON N.V.AEGStephens IncNeutral» Mkt Outperform History
AMBAC FinclABKPrudentialAccumulate» Strong Buy History
AirgasARGGoldman SachsMarket Perform» Market Outperform History
AmeriSource HealthAASWarburg Dillon ReadHold» Strong Buy History
Birmingham SteelBIRSalomon Smth BrnyNeutral» Buy History
Cabot CorpCBTSchroder & CoPerform-In-Line» Outperf. Signif. History
Core LabsCLBDain Rauscher WesselsNeutral» Buy Aggressive History
Expeditors Int'lEXPDGruntal & CoBuy» Strong Buy History
Flowers IndusFLOAG EdwardsMaintain Position» Buy History
Hasbro, Inc.HASBear StearnsAttractive» Buy History
Maker CommsMAKRLehman BrothersNeutral» Outperform History
Maker CommsMAKRSalomon Smth BrnyNeutral» Outperform History
NS GroupNSSMcDonald InvstHold» Buy -
No. Border PrtnrsNBPPaineWebberAttractive» Buy History
Orange plcORNGYLehman BrothersOutperform» Buy -
Owens CorningOWCCSFBHold» Buy History
Rgrs Cantel MobileRCNBear StearnsAttractive» Buy History
Rgrs Cantel MobileRCNMrgn Stnly Dn WttrOutperform» Strong Buy History
Shop At HomeSATHFriedman BillingsAccumulate» Buy History
Spieker PptiesSPKDeutsche Bc Alex. BrBuy» Strong Buy History
TNT Post GroepTPMerrill LynchNT Neutral» NT Buy History
Trex CoTWPJC BradfordBuy» Strong Buy History
Trico MarineTMARRaymond JamesNeutral» Buy History
Wabash NatlWNCDeutsche Bc Alex. BrMkt Perform» Buy History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

AlbemarleALBBanc of America SecHold» Underperform History
Anadarko PetroAPCMerrill LynchNT Buy» NT Accum History
Applied AnalyticalAAIILehman BrothersOutperform» Neutral History
Applied AnalyticalAAIISG CowenBuy» Neutral History
BCE Mobile CommsBCXBear StearnsBuy» Attractive History
BCE Mobile CommsBCXGoldman SachsRecommended List» Market Perform History
Banco SantiagoSANSG CowenBuy» Neutral History
Crescent Real EstCEIDLJBuy» Market Perform History
EcolabECLBanc of America SecBuy» Market Perform History
GPU, Inc.GPUMrgn Stnly Dn WttrOutperform» Neutral History
Meditrust CorpMTBB Robertson StephensBuy» Mkt Performer History
Minnesota Mining & Mfg.MMMBanc of America SecHold» Underperform History
Newport News Ship.NNSMerrill LynchLT Buy» LT Accum History
The First YearsKIDDAdams HarknessStrong Buy» Accumulate History
Wolverine TubeWLVPrudentialHold» Sell History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

Alexion PharmALXNUSB Piper Jaffray» Buy History
Atmel CorpATMLCSFB» Buy History
AvironAVIRUSB Piper Jaffray» Buy History
BCE, Inc.BCESalomon Smth Brny» Outperform History
CONMED CorpCNMDMerrill Lynch» NT Accum/LT Buy History
Clarent Corp (a)CLRNCSFB» Buy History
Commerce One (a)CMRCCSFB» Buy History
Digital Courier Tech.DCTIE*OFFERING» Buy -
EnzonENZNUSB Piper Jaffray» Buy History
Fresenius MedicalFMSHambrecht & Quist» Buy History
Geltex Pharms (b)GELXSG Cowen» Strong Buy History
Harley-DavidsonHDIMerrill Lynch» NT Neut/LT Buy History
IDEXX LabsIDXXMerrill Lynch» NT Accum/LT Buy History
Koala CorpKAREFS Van Kasper» Buy History
LSI LogicLSICSFB» Buy History
Mattson TechMTSNHambrecht & Quist» Buy History
MedImmuneMEDIUSB Piper Jaffray» Strong Buy History
Portal SoftwarePRSFSoundView» Buy History
Quantum DLT StgDSSPrudential» Strong Buy -
Quantum Hrd DrvHDDPrudential» Hold -
Stryker CorpSYKMerrill Lynch» NT Buy/LT Buy History
Tetra TechWATRFS Van Kasper» Buy History
ViroPharmaVPHMUSB Piper Jaffray» Strong Buy History

(a) Brokerage firm initiating coverage participated in underwriting the recent IPO.
(b) Brokerage firm resumes coverage.
(c) Brokerage firm initiating coverage participated in the secondary offering.

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