Top Analyst Upgrades and Downgrades (ATVI, ADTN, AMD, AOL, CHK, CLF, CVGI, EA, LLY, FB, FDX, GRPN, HES, LNKD, OSIS, GOLD, RIO, STM, TWX, TIVO, WAB, ZNGA)

Activision Blizzard Inc. (NASDAQ: ATVI) started as Buy at Jefferies.

Adtran Inc. (NASDAQ: ADTN) reiterated Buy with $30 target at Argus.

Advanced Micro Devices Inc. (NYSE: AMD) cut to Neutral at UBS.

AOL Inc. (NYSE: AOL) raised to Buy at Jefferies.

Chesapeake Energy Corp. (NYSE: CHK) started as Equalweight at Barclays.

Cliffs Natural Resources Inc. (NYSE: CLF) cut to Underperform at Credit Suisse.

Commercial Vehicle Group Inc. (NASDAQ: CVGI) started as Neutral at Credit Suisse.

Electronic Arts Inc. (NASDAQ: EA) started as Hold at Jefferies.

Eli Lilly & Co. (NYSE: LLY) raised to Outperform at Bernstein.

Facebook Inc. (NASDAQ: FB) started as Buy at Jefferies.

FedEx Corp. (NYSE: FDX) cut to Market Perform at Wells Fargo.

Groupon Inc. (NASDAQ: GRPN) started as Hold at Jefferies.

Hess Corp. (NYSE: HES) maintained Hold and cut earnings estimates at Argus.

LinkedIn Corporation (NYSE: LNKD) raised to Buy at Jefferies.

OSI Systems Inc. (NASDAQ: OSIS) started as Perform at Oppenheimer.

Randgold Resources Ltd. (NASDAQ: GOLD) started as Overweight at Barclays.

Rio Tinto PLC (NYSE: RIO) started as Outperform at Bernstein.

STMicroelectronics N.V. (NYSE: STM) cut to Sell at UBS.

Time Warner Inc. (NYSE: TWX) raised to Buy at UBS.

TiVo Inc. (NASDAQ: TIVO) started as Buy at Jefferies.

Westinghouse Air Brake Technologies Corp. (NYSE: WAB) started as Outperform at Credit Suisse.

Zynga Inc. (NASDAQ: ZNGA) started as Hold at Jefferies.

JON C. OGG