Upgrades
STLD – Steel Dynamics initiated with Positive ratings at Susquehanna
X – U.S. Steel (X) initiated with Positive ratings at Susquehanna
AKAM – Akamai Tech initiated with Buy at Morgan Joseph
TEVA – Teva Pharma initiated with a Buy at Argus
CLF – Cliffs Natural Resources initiated with Positive at Susquehanna
SCHW – Charles Schwab initiated with Outperform at BMO Capital Markets
IMMU – Immunomedics assumed with a Buy at Brean Murray
ETFC – E*TRADE initiated with Market Perform at BMO Capital Markets
BSYBY – British Sky Broadcasting upgraded to Outperform from Market Perform at Bernstein
HFC – HollyFrontier initiated with Outperform at Credit Suisse
Downgrades
SOL – ReneSola target lowered to $3.60 at Collins Stewart following lowered guidance
VTNC – Vitran downgraded to Hold from Buy at BB&T
VOLC – Volcano initiated with Hold at Stifel Nicolaus
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