Full Research Notes (APR 4, 2007)

ALV started as overweight at Prudential.
AMLN started as Outperform at CIBC.
AN started as Neutral at Prudential.
BCS cut to Peer Perform at Bear Stearns.
CDCY cut to Mkt Perform at FBR.
COCO raised to Buy at Citigroup.
CWTR raised to Buy at B of A.
CYMI raised to Buy at Stifel Nicolaus.

DCX started as neutral at Prudential.
DLB started as Buy at Kaufman.
EFII raised to Overweight at JPMorgan.
F started as Underweight at Prudential.
FDC cut to Neutral at UBS.
GLBC raised to Buy at Deutsche Bank.
GLDN started as Buy at Goldman Sachs.
GM started as Underweight at Prudential.
GNTX started as Underweight at Prudential.
GPI raised to Overweight at JPMorgan.
GPI started as Overweight at Prudential.
HMC started as Overweight at Prudential.
HSII cut to Neutral at Goldman Sachs.
ICGN cut to Neutral at JPMorgan.
IP cut to Hold at Citigroup.
JCI started as Overweight at Prudential.
KLAC raised to Buy at Stifel Nicolaus.
LAYN cut to Neutral at Oppenheimer.
LPSN cut to Sell at Roth Capital.
LRCX raised to Buy at Stifel Nicolaus.
LRW cut to Sell at Goldman Sachs.
MEDI cut to Mkt Perform at Sanford Bernstein.
MGA started as neutral at Prudential.
MPG raised to Outperform at Wachovia.
NHWK raised to Buy at Goldman Sachs.
PDX started as Outperform at Morgan Keegan.
PGIC started as Buy at Merriman Curhan Ford.
PLAB raised to Buy at Stifel Nicolaus.
SAH started as Overweight at Prudential.
SFN raised to Neutral at Goldman Sachs.
SMA raised to Outperform at William Blair.
SONC raised to Outperform at Bear Stearns.
TEF raised to Outperform at Bear Stearns.
TM started as Overweight at Prudential.
TWC started as Equal Weight at Lehman.
UAG started as Neutral at Prudential.
VRNT cut to Underweight at JPMorgan.
VSEA raised to Buy at Stifel Nicolaus.
WY raised to Neutral at UBS.
XEL cut to Underweight at HSBC.

Jon C. Ogg
April 4, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.