Seeking Alpha

The following tables summarize both analyst upgrades/downgrades and subsequent market reaction for July 17, 2006:

Upgrades:

Company/From/Jul 17Change52 Wk
TickerBrokerageToClose$/%Hi/Lo

(OTC:ADPT)Adaptec Inc.Mkt Perform$4.23$0.20$6.70
Morgan Keegan Outperform5.0%$3.12
(ARRO)Arrow InternatiAccumulate$31.36$1.46$34.90
Brean Murray Strong Buy4.9%$27.23
(BBW)Build-A-Bear WoSell$20.00$0.21$32.90
Rochdale SecuriHold1.1%$19.41
(BEBE)Bebe Stores, InHold$15.20$0.75$29.87
Brean Murray Accumulate5.2%$13.05
(BIDU)Baidu.com, Inc.Hold$93.04$5.34$153.98
Brean Murray Accumulate6.1%$44.44
(BJ)BJ's Wholesale Neutral$26.66$0.69$33.07
UBS Buy2.7%$25.30
(BJ)BJ's Wholesale Underperform$26.66$0.69$33.07
Credit Suisse Neutral2.7%$25.30
(BYD)Boyd Gaming CorPeer Perform$37.41$1.41$54.99
Thomas Weisel Outperform3.9%$35.80
(CREE)Cree Inc.Strong Sell$18.59$0.30$35.30
Matrix ResearchHold1.6%$16.85
(CVC)Cablevision SysPeer Perform$21.08$0.45$31.90
Bear Stearns Outperform2.2%$18.00
(DVA)DaVita Inc.Neutral$49.53$0.71$60.70
UBS Buy1.5%$42.98
(EFII)Electronics forHold$21.03$1.20$29.85
Citigroup Buy6.1%$19.50
(FLSH)M Systems FlashSell$25.68$0.55$37.60
Am Tech/JSA ResHold2.2%$21.52
(GLT)PH Glatfelter CHold$15.22$0.60$19.84
Deutsche SecuriBuy4.1%$12.01
(IFO)Infosonics CorpHold$7.18$0.76$17.31
Kaufman Bros Buy11.8%$1.38
(INSP)InfoSpace Inc.Sell$21.81$0.86$36.81
Stanford ResearHold4.1%$20.50
(JOYG)Joy Global Inc.Hold$38.79($1.67)$72.23
Matrix ResearchBuy-4.1%$23.71
(K)Kellogg Co.Mkt Perform$48.85$0.78$49.14
William Blair Outperform1.6%$42.41
(LMIA)LMI Aerospace INeutral$19.28$0.98$22.78
Oppenheimer Buy5.4%$5.40
(LVLT)Level 3 CommuniHold$4.11$0.07$6.00
Needham & Co Buy1.7%$1.87
(MOGN)MGI Pharma Inc.Peer Perform$21.16$0.58$27.70
Bear Stearns Outperform2.8%$15.72
(MRX)Medicis PharmacUnderweight$23.70$0.86$35.45
Morgan Stanley Equal-weight3.8%$22.57
(NTRS)Northern Trust Sell$54.08$0.93$60.44
Goldman Sachs Neutral1.7%$47.60
(OAKF)Oak Hill FinancHold$25.26($0.04)$33.59
KeyBanc CapitalBuy-0.2%$25.00
(QCOM)QUALCOMM Inc.Neutral$36.56$0.19$53.01
UBS Buy0.5%$34.78
(RF)Regions FinanciUnderperform$35.42$1.29$36.66
Credit Suisse Neutral3.8%$29.16
(RNOW)Rightnow TechnoMkt Perform$14.23$0.36$20.83
Friedman BillinOutperform2.6%$10.13
(SGY)Stone Energy CoUnderweight$46.23($0.40)$62.50
JP Morgan Overweight-0.9%$38.55
(SHLM)A. Schulman, InBuy$22.00($0.43)$25.83
Matrix ResearchStrong Buy-1.9%$16.49
(STX)Seagate TechnolUnderweight$22.90$0.47$28.11
Morgan Stanley Equal-weight2.1%$13.82
(WFSL)Washington FedeHold$21.78($0.17)$25.07
McAdams,Wright,Buy-0.8%$21.11

Downgrades:

Company/From/Jul 17Change52 Wk
TickerBrokerageToClose$/%Hi/Lo

(AMD)Advanced Micro Above Average$20.92($0.68)$42.70
Caris & CompanyAverage-3.1%$19.20
(AVX)AVX Corp.Hold$13.92($0.36)$19.90
Am Tech/JSA ResSell-2.5%$11.27
(C)Citigroup Inc.Overweight$46.40($1.18)$50.72
Prudential Neutral-2.5%$42.91
(CN)Condor ResourceOutperform$0.41$0.02$1.05
Credit Suisse Neutral6.4%$0.38
(CPT)Camden PropertyBuy$72.86($1.30)$76.41
Banc of AmericaNeutral-1.8%$49.56
(CSC)Computer SciencHold$50.68($2.07)$60.39
Jefferies & Co Underperform-3.9%$43.49
(DADE)Dade Behring HoBuy$38.91($0.17)$43.11
UBS Neutral-0.4%$32.90
(DIS)Walt Disney Co.Outperform$28.60$0.11$31.03
Cowen & Co Neutral0.4%$22.89
(OTC:DTAS)Digitas Inc.Buy$10.29($0.33)$14.99
Needham & Co Hold-3.1%$9.14
(FDS)FactSet ResearcOverweight$42.83($2.21)$47.75
Morgan Stanley Equal-weight-4.9%$31.64
(FPO)First Potomac RLong-term Buy$27.46($0.20)$30.55
Hilliard Lyons Neutral-0.7%$23.87
(GW)Grey Wolf Inc.Buy$6.85($0.29)$8.93
Jefferies & Co Hold-4.1%$6.50
(KEM)KEMET Corp.Hold$7.84($0.36)$11.58
Am Tech/JSA ResSell-4.4%$6.48
(MXIM)Maxim IntegrateBuy$28.38($0.12)$45.91
Caris & CompanyAbove Average-0.4%$28.31
(NRF)NorthStar RealtBuy$11.63($0.43)$12.24
Banc of AmericaNeutral-3.6%$8.89
(NTAP)Network ApplianEqual-weight$27.09$0.17$38.50
Morgan Stanley Underweight0.6%$22.50
(PDC)Pioneer DrillinBuy$13.67($1.26)$23.06
Jefferies & Co Hold-8.4%$12.60
(PETC)Petco Animal SuOutperform$27.93$0.04$28.94
Bear Stearns Peer Perform0.1%$18.00
(PTEN)Patterson-UTI EBuy$23.38($1.49)$38.49
Jefferies & Co Hold-6.0%$23.33
(SFD)Smithfield FoodStrong Buy$28.55($0.19)$31.47
Matrix ResearchHold-0.7%$25.00
(TXI)Texas IndustrieStrong Buy$50.05$0.48$74.75
Matrix ResearchSell1.0%$44.58
(UDRL)Union Drilling,Buy$12.64($0.97)$18.63
Jefferies & Co Hold-7.1%$11.85
(VSH)Vishay IntertecHold$14.47($0.68)$17.46
Am Tech/JSA ResSell-4.5%$10.77
(VTSS)Vitesse SemiconSector Perform$1.44($0.06)$3.79
CIBC Wrld Mkts Sector Underperform-4.3%$1.15

Data: Briefing.com, CapitalIQ

Source: Analyst Upgrades/Downgrades for July 17, 2006