UPGRADES:
* Cabot Oil & Gas (COG) to overweight: JPMorgan
* Ceradyne (CRDN) to buy: ThinkEquity
* GT Advanced (GTAT) to buy: Canaccord Genuity
* Idenix Pharma (IDIX) to hold: Brean Murray
* Viacom (VIAB) to outperform: Wells Fargo
* Walgreen (WAG) to equalweight: Morgan Stanley
DOWNGRADES:
* Acme Packet (APKT) to underperform: Raymond James
* China Mobile (CHL) to sell: Bank of China
* China Mobile (CHL) to hold: Haitong Securities
* Cerner (CERN) to equalweight: Morgan Stanley
* Groupon (GRPN) to underweight: Evercore
* Gardner Denver (GDI) to hold: Capstone
* Liberty Interactive (LINTA) to equalweight: Morgan Stanley
* MYR Group (MYRG) to neutral: Robert Baird
* McKesson (MCK) to equalweight: Morgan Stanley
* Marvell Technology (MRVL) to sector perform: RBC Capital
* MolyCorp (MCP) to hold: Dahlman Rose
* Vivus (VVUS) to underperform: Jefferies
* Wellpoint (WLP) to equalweight: Morgan Stanley
INITIATIONS:
* Beam Inc. (BEAM) underperform: CLSA
* Cymer (CYMI) hold: Deutsche Bank
* Cooper Cos. (COO) buy: Northcoast Research
* Durrect Corp. (DRRX) buy: CK Cooper
* FuelCell (FCEL) market perform: FBR Capital
* HollyFrontier (HFC) neutral: JPMorgan
* Krispy Kreme (KKD) outperform: Wedbush
* Phillips 66 (PSX) overweight: JPMorgan
* Progressive Waste (BIN) sector performer: CIBC
* Pain Therapeutics (PTIE) buy: CK Cooper
* Proto Labs (PRLB) equalwieght: Stephens
* Stifel Financial (SF) neutral: Susquehanna
* Tesoro (TSO) overweight: JPMorgan
* Valero (VLO) neutral: JPMorgan
* Waters (WAT) hold: WallachBeth Capital