- ArcelorMittal (NYSE: MT) Cut to Neutral from Overweight at HSBC.
- Caribou Coffee (NASDAQ: CBOU) Cut to Neutral from Outperform at Cowen.
- Cepheid (NASDAQ: CPHD) Raised to Buy from Neutral at UBS.
- Intl Flavors & Fragrances (NYSE: IFF) Cut to Underweight from Neutral at JPMorgan.
- International Paper (NYSE: IP) cut To Neutral from Outperform at Credit Suisse.
- PF Chang's (NASDAQ: PFCB) Cut to Neutral from Outperform at Cowen.
- Procter & Gamble (NYSEL PG) Cut to Hold from Buy at Deutsche Bank.
- Reynolds American (NYSE: RAI) Raised to Neutral from Sell at Goldman Sachs.
- Regions Financial (NYSE: RF) Raised to Hold from Sell at Citi.
- US Steel (NYSE: USX) Cut to Hold From Buy at Citigroup.
- Venoco (NYSE: VQ) Raised to Buy from Hold at Jefferies.
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