Top Pre-Market Analyst Upgrades & Downgrades (NGG, QGEN, RGC, WSM, GPN, GFI, QSFT, TSRA)

These are the early bird analyst upgrades and downgrades we have seen this Tuesday morning with more than two hours to the open:

• National Grid (NYSE: NGG) Raised to Overweight at HSBC.
• Qiagen (NASDAQ: QGEN) Started as Overweight at HSBC.
• Regal Entertainment (NYSE: RGC) Started as Buy at Merriman Curhan Ford.
• Williams-Sonoma (NYSE: WSM) Raised to Buy at Merrill lynch.
• Global Payments (NYSE: GPN) Cut to Neutral at Baird.
• Gold Fields (NYSE: GFI) Cut to Neutral from Buy at UBS.
• Quest Software (NASDAQ: QSFT) Cut to Neutral at Goldman Sachs.
• Tessera Technologies (NASDAQ: TSRA) Cut to Neutral at Piper Jaffray.

Jon C. Ogg
December 2, 2008