ADC Telecom (NASDAQ: ADCT) and Arris (NASDAQ: ARRS) raised to Buy at UBS.
Estee Lauder (NYSE: EL) raised to Buy at UBS.
Flamel (NASDAQ: FLML) raised to But at Merriman Curhan Ford.
Geron (NASDAQ: GERN) raised to Buy at UBS.
Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW) started as Market Perform at Morgan Keegan.
McDonald’s (NYSE: MCD) downgraded to Peer Perform at Bear Stearns.
Medarex (NASDAQ: MEDX) started as Buy at UBS.
Novell (NASDAQ: NOVL) raised to Buy at Jefferies.
NYMEX (NYSE: NMX) downgraded to Hold at Citigroup.
Walt Disney (NYSE: DIS) downgraded to Sell at Citigroup.

Jon C. Ogg
January 29, 2008

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