Analyst Upgrades & Downgrades for Tuesday, August 1, 2006

The following analyst upgrades/downgrades have been reported as of 9 AM

Upgrades:

					Jul 31
Ticker	Company	Brokerage	Old Rating	New Rating	Close
(ASMI)	ASM International NV	Needham & Co	Underperform	Hold	$15.54
(CHK)	Chesapeake Energy Co	Goldman Sachs	Neutral	Buy	$32.90
(COF)	Capital One Financia	Morgan Stanley	Equal-weight	Overweight	$77.35
(CSCO)	Cisco Systems Inc.	Rochdale Securities	Sell	Hold	$17.88
(HYDL)	Hydril Co.	Citigroup	Hold	Buy	$69.27
(IGT)	International Game T	UBS	Neutral	Buy	$38.66
(LOJN)	LoJack Corp.	Matrix Research	Sell	Hold	$15.81
(NNI)	Nelnet Inc.	Matrix Research	Buy	Strong Buy	$30.67
(NOVN)	Noven Pharmaceutical	Jefferies & Co	Hold	Buy	$19.76
(NUS)	Nu Skin Enterprises	Stanford Research	Hold	Buy	$14.30
(POWI)	Power Integrations I	Citigroup	Sell	Hold	$15.90
(RLH)	Red Lion Hotels Corp	Friedman Billings	Mkt Perform	Outperform	$9.71
(SCT)	Scottish Re Group Lt	UBS	Reduce	Neutral	$3.99
(VPHM)	ViroPharma Inc.	Piper Jaffray	Market Perform	Outperform	$7.78

Downgrades:

					Jul 31
Ticker	Company	Brokerage	Old Rating	New Rating	Close
(AFFX)	Affymetrix Inc.	Thomas Weisel	Outperform	Peer Perform	$21.57
(ALL)	Allstate Corp.	Citigroup	Buy	Hold	$56.82
(BRLI)	Bio-Reference Labora	Jefferies & Co	Buy	Hold	$23.55
(BWA)	BorgWarner Inc.	Banc of America Sec	Buy	Neutral	$60.00
(CB)	Chubb Corp.	Citigroup	Hold	Sell	$50.42
(CNC)	Centene Corp.	Goldman Sachs	Buy	Neutral	$16.25
(COLM)	Columbia Sportswear	Matrix Research	Buy	Hold	$49.72
(CTL)	Centurytel Inc.	Morgan Stanley	Overweight	Equal-weight	$38.57
(DTV)	DirecTV Group Inc.	Deutsche Securities	Buy	Hold	$17.05
(ECA)	EnCana Corp.	Goldman Sachs	Buy	Neutral	$54.01
(EEQ)	Enbridge Energy Mana	RBC Capital Mkts	Sector Perform	Underperform	$46.20
(EMC)	EMC Corp.	Morgan Keegan	Outperform	Mkt Perform	$10.15
(ESI)	ITT Educational Serv	Matrix Research	Buy	Hold	$67.42
(FLSH)	Msystems Ltd.	JP Morgan	Overweight	Neutral	$36.00
(HCR)	Manor Care Inc.	Jefferies & Co	Buy	Hold	$50.05
(LG)	Laclede Group Inc.	Stifel Nicolaus	Buy	Hold	$33.23
(MAN)	Manpower Inc.	UBS	Buy	Neutral	$59.48
(MRX)	Medicis Pharmaceutic	Matrix Research	Hold	Sell	$27.56
(NLS)	Nautilus Inc.	BB&T Capital Mkts	Buy	Hold	$12.56
(NTE)	Nam Tai Electronics	Bear Stearns	Outperform	Peer Perform	$17.11
(PUK)	Prudential plc	Bear Stearns	Outperform	Peer Perform	$21.26
(PWAV)	Powerwave Technologi	Oppenheimer	Buy	Neutral	$7.94
(PWAV)	Powerwave Technologi	Robert W. Baird	Outperform	Neutral	$7.94
(PWAV)	Powerwave Technologi	First Albany	Buy	Neutral	$7.94
(STA)	St. Paul Travelers C	Citigroup	Buy	Hold	$45.80
(TNL)	Technitrol Inc.	Matrix Research	Hold	Sell	$24.78

Coverage Initiated:

				Jul 31
Ticker	Company	Brokerage	New Rating	Close
(ADBE)	Adobe Systems Inc.	Prudential	Overweight	$28.51
(ADSK)	Autodesk Inc.	Prudential	Neutral	$34.11
(ARTG)	Art Technology Group	Prudential	Overweight	$2.67
(ATVI)	Activision Inc.	Prudential	Overweight	$11.95
(BEAS)	BEA Systems Inc.	Prudential	Neutral	$11.74
(CMLS)	Cumulus Media Inc.	Morgan Stanley	Underweight	$9.50
(CONN)	Conns Inc.	Morgan Keegan	Mkt Perform	$25.72
(CRM)	Salesforce.com	Prudential	Underweight	$25.70
(CXR)	Cox Radio Inc.	Morgan Stanley	Overweight	$14.65
(ERTS)	Electronic Arts Inc.	Prudential	Underweight	$47.11
(ETM)	Entercom Communicati	Morgan Stanley	Underweight	$25.35
(GRMN)	Garmin Ltd.	Am Tech/JSA Research	Sell	$94.99
(JDAS)	JDA Software Group I	Prudential	Overweight	$15.47
(MSFT)	Microsoft Corp.	Prudential	Overweight	$24.06
(ORCL)	Oracle Corp.	Prudential	Underweight	$14.97
(OZN)	Orezone Resources In	CIBC Wrld Mkts	Sector Outperform	$1.49
(RBAK)	Redback Networks Inc	Goldman Sachs	Neutral	$15.46
(RHAT)	Red Hat Inc.	Prudential	Overweight	$23.68
(RNOW)	Rightnow Technologie	Prudential	Underweight	$12.13
(ROIAK)	Radio One Inc.	Morgan Stanley	Equal-weight	$7.18
(RRI)	Reliant Energy Inc.	Lehman Brothers	Equal-weight	$12.58
(THQI)	THQ Inc.	Prudential	Overweight	$22.69
(TNOX)	Tanox Inc.	Prudential	Neutral	$14.26
(TWLL)	Techwell, Inc.	Cowen & Co	Outperform	$10.50
(WIT)	Wipro Ltd.	Lehman Brothers	Overweight	$12.47
(WYN)	Wynnstay Group plc	JP Morgan	Neutral	$4.07

Data: Briefing.com, CapitalIQ