Archer-Daniels (NYSE: ADM) cut to Hold at Citigroup.
ASM Intl NV (NASDAQ: ASMI) started as Underperform at Jefferies.
China Netcom (NYSE: CN) and China Unicom (NYSE: CHU) raised to Hold at Deutsche Bank.
Fortress Investment (NYSE: FIG) cut to Neutral at Credit Suisse.
Franklin Resources (NYSE: BEN) raised to Outperform at KBW.
Martha Stewart (NYSE: MSO) cut to Neutral at JPMorgan.
Nortel (NYSE: NT) raised to Overweight at JPMorgan.
Ryland Group (NYSE: RYL) raised to Buy at UBS.
Teradyne (NYSE: TER) started as Neutral at Piper Jaffray.
VeraSun Energy (NYSE: VSE) cut to Sell at Citigroup.

Jon C. Ogg
June 12, 2008

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