Pre Market Calls

• Alliance Data Systems (NYSE: ADS) Raised to Buy From Neutral at Piper Jaffray.
• Capital One (NYSE: COF) Cut to Neutral from Buy at Piper Jaffray; Cut to Underperform from Market Perform at KBW.
• CenturyTel (NYSE: CTL) Raised to Overweight at Morgan Stanley.
• Cisco Systems (NASDAQ: CSCO) Started as Buy at Lazard.
• Cymer (NASDAQ: CYMI) Cut to Neutral at JPMorgan.
• Ford (NYSE: F) and GM (NYSE: GM) losses widened out at JPMorgan.
• Franklin Resources (NYSE: BEN) cut to Underweight at JPMorgan.
• Gap Inc (NYSE: GPS) Cut To Equalweight From Overweight at Lehman Brothers.
• Google (NASDAQ: GOOG) raised to Buy at Jefferies; Merrill Lynch raised price target to $600.
• MKS Instruments (NASDAQ: MKSI) raised to Overweight at JPMorgan.
• Textron (NYSE: TXT) Cut to Neutral from Outperform at Credit Suisse.

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