Apple Inc. (NASDAQ: AAPL) Maintained Outperform at Credit Suisse; maintained Buy at Argus.
AT&T Inc. (NYSE: T) Reiterated Buy at Argus.
Canadian Pacific Railway Limited (NYSE: CP) Cut to Underperform at BofA/ML.
CSX Corp. (NYSE: CSX) Raised to Overweight at Barclays.
General Electric Co. (NYSE: GE) Reiterated Buy at Argus.
Jones Lang LaSalle (NYSE: JLL) Raised to Outperform as Bull of the Day at Zacks.
Netflix, Inc. (NASDAQ: NFLX) Raised to Outperform with $280 target at Credit Suisse.
Nordstrom Inc. (NYSE: JWN) Raised to Buy with $49 target at Goldman Sachs.
Research-in-Motion Ltd. (NASDAQ: RIMM) Maintained Outperform ahead of earnings at Credit Suisse.
SanDisk Corporation (NASDAQ: SNDK) Maintained Buy at Gleacher & Co.
United Continental Holdings (NYSE: UAL) Maintained Buy but cut estimates/target at Soleil.
Universal Technical Institute (NYSE: UTI) maintained Underperform as Bear of the Day at Zacks.
VMware Inc. (NYSE: VMW) Raised to Buy at BofA/ML.
Zions Bancorporation (NASDAQ: ZION) Raised to Outperform at Credit Suisse.

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JON C. OGG

• Akamai (AKAM) Cut to Market Perform at FBR.
• Avon (AVP) Cut to Hold at Deutsche Bank.
• California Pizza Kitchen (CPKI) Cut to Neutral at Baird.
• CB Richard Ellis (CBG) Cut to Neutral at JPMorgan.
• FedEx (FDX) Cut to Equal Weight at Morgan Stanley.
• General Growth Properties (GGP) Cut to Sell at Citigroup.
• Hologic (HOLX) Cut to Hold at Jefferies.
• Jones Lang LaSalle (JLL) Cut to Neutral at JPMorgan.
• Temple-Inland (TIN) Cut to Neutral at Credit Suisse.
• THQ (THQI) Cut to Perform at Oppenheimer.
• Timberland (TBL) Cut to Sell at Citigroup.
• T.Rowe Price (TROW) Cut to Market Perform at Wachovia.
• USANA (USNA) Cut to Underperform at Jefferies.

Jon C. Ogg
July 31, 2008