UPGRADES:
* Atwood Oceanics (ATW) to buy: Guggenheim Partners
* Research in Motion (RIMM) to sector perform: ScotiaBank
* Syngenta (SYT) to overweight: HSBC
DOWNGRADES:
* Axis Capital (AXS) to equalweight: Evercore Partners
* ArcelorMittal (MT) to neutral: Macquarie
* Box Ships (TEU) to equalweight: Morgan Stanley
* Dresser-Rand (DRC) to accumulate: Tudor Pickering
* FMC Corp. (FMC) to neutral: BofA Merrill
* McDonald’s (MCD) to neutral: Janney Capital
* PartnerRE (PRE) To equalweight: Evercore Partners
* United Technologies (UTX) to perform: Oppenheimer
INITIATIONS:
* AIG (AIG) neutral: Janney
* American International Group (AIG) neutral: Janney Capital
* ASM International (ASMI) neutral: Natixis
* Atlas Pipeline (APL) overweight: Stephens
* Ares Capital (ARCC) market perform: Raymond James
* American Financial Group (AFG) buy: Janney Capital
* American Capital mortgage (MTGE) market outperform: JMP Securities
* Avago Technologies (AVGO) buy: Brean Murray
* Broadcom (BRCM) buy: Brean Murray
* BPZ Resources (BPZ) buy: Miller Tabak
* Builders Firstsource (BLDR) buy: Williams Financial
* Cameron Intl (CAM) buy: Lazard Capital
* Copano Energy (CPNO) equalweight: Stephens
* Dynegy (DYNIQ) equalweight: Barclays
* Devon Energy (DVN) outperform: Credit Suisse
* Denbury Resources (DNR) neutral: Credit Suisse
* Embraer (ERJ) neutral: BB&T Capital
* EZChip Semi (EZCH) hold: Brean Murray
* FMC Technologies (FTI) buy: Lazard Capital
* HCC Insurance (HCC) buy: Janney Capital
* Halcon Resources (HK) buy: Canaccord Genuity
* Marvell Technology (MRVL) hold: Brean Murray
* Montpelier (MRH) neutral: Janney Capital
* Markwest Energy (MWE) overweight: Stephens
* Nvidia (NVDA) hold: Brean Murray
* Omnicom (OMC) equalweight: Evercore Partners
* PMC-Sierra (PMCS) hold: Brean Murray
* Plains Exploration (PXP) neutral: Credit Suisse
* Plains All American (PAA) equalweight: Stephens
* Pfizer (PFE) outperform: BMO Capital
* Qualcomm (QCOM) buy: Brean Murray
* RF Micro Devives (RFMD) buy: Brean Murray
* Skyworks Solutions (SWKS) buy: Brean Murray
* Triquint (TQNT) hold: Brean Murray
* Varian Medical (VAR) outperform: CLSA
* Validus (VR) neutral: Janney Capital