These are this Wednesday’s top 10 analyst upgrades, downgrades, and initiations seen from Wall Street research calls early this morning:
Autodesk Inc. (NASDAQ: ADSK) Raised to Buy at Needham.
Banco Santander (NYSE: STD) Cut to Underweight at Barclays.
Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) Cut to Underweight at Barclays.
Bucyrus International (NASDAQ: BUCY) Started as Buy at Goldman Sachs.
EOG Resources (NYSE: EOG) Raised to Buy at Goldman Sachs.
EXCO Resources (NYSE: XCO) Raised to Conviction Buy List at Goldman Sachs.
Leap Wireless International (NASDAQ: LEAP) Reiterated Hold ahead of earnings at Auriga.
STEC Inc. (NASDAQ: STEC) cut to Hold at Deutsche Bank; Cut to Neutral at JPMorgan; Cut to Market Weight at Thomas Weisel.
Time Warner Inc. (NYSE: TWX) Started as Buy at Janney Montgomery.
Ultra Petroleum (NYSE: UPL) maintained Buy but removed from Conviction Buy List at Goldman Sachs.
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JON C. OGG
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Autodesk, Inc. (NASDAQ: ADSK) is trading lower after its earnings, or at least after its losses. The software and design assistance company did beat expectations with $0.31 EPS as revenue dropped 18% to $49 million. First Call had consensus estimates at $0.21 EPS and $484.5 million in revenue. The good news stops there.
Every time there is news about the internet portal Yahoo! (YHOO), it makes the front pages. The only story about Yahoo, however, that deserved attention was the monstrous violation of fiduciary duty that its board made when it turned down Microsoft’s (MSFT) offer to buy the company. Beyond that, Yahoo is now a relatively small company with faltering profits that is no longer even important to its own industries, either media or the internet. 
