Earlybird TMT Analyst Calls (ADBE, AEIS, ASML, CLWR, DT, LRCX, MVL, TI, VRGY, YHOO)

These are the early bird calls we are seeing in telecom, media, and tech:

• Adobe Systems (NASDAQ: ADBE) raised to Overweight from Equal Weight at Morgan Stanley.
• Advanced Energy Industries (NASDAQ: AEIS) raised to Buy from neutral at Goldman Sachs.
• ASML Holding NV (ASML) Raised to Buy from Neutral at Goldman Sachs, but slight lowering of estimates.
• Clearwire (NASDAQ: CLWR) raised to Hold from Sell at at Citigroup.
• Deutsche Telekom (NYSE: DT) raised to Overweight from Equalweight, but target cut to EUR13 from EUR 14.50.
• Lam Research (NASDAQ: LRCX) raised to Goldman Sachs Conviction Buy List from Sell at Goldman Sachs.
• Marvel Enterprises (NYSE: MVL) raised to Outperform at RBC.
• Telecom Italia (NYSE: TI) raised to Outperform at Bernstein.
• Verigy (NASDAQ: VRGY) removed from Goldman Sachs Conviction Buy List on valuation.
• Yahoo! (NASDAQ: YHOO) Downgraded to Underweight from Market Weight at Thomas Weisel.

Jon C. Ogg
June 24, 2008