| Date | Broker | Symbol | Company | To | From | Target |
| 11/20/09 | FBR Capital Markets | ITT | ITT Corporation | Market Perform | Outperform | $57 Down From $63 |
| 11/17/09 | Credit Suisse | SII | Smith International | Neutral | Outperform | $27 Down From $34 |
| 11/17/09 | FBR Capital Markets | SPWRA | SunPower Corporation | Market Perform | Outperform | $30 Down From $38 |
| 11/16/09 | Credit Suisse | WX | WuXi PharmaTech (Cayman) Inc. | Neutral | Outperform | $14 Up From $12 |
| 11/12/09 | FBR Capital Markets | PFG | Principal Financial Group Inc | Market Perform | Outperform | $26 Down From $32 |
| 11/11/09 | Credit Suisse | PCLN | Priceline.Com Inc. | Neutral | Outperform | $210 |
| 11/10/09 | FBR Capital Markets | PIKE | pike electric corp. | Market Perform | Outperform | $11 Down From $15 |
| 11/6/09 | KeyBanc Capital Markets | RRGB | Red Robin Gourmet Burgers | Hold | Buy | N/A |
| 11/5/09 | KeyBanc Capital Markets | ARO | Aeropostale Inc. | Hold | Buy | N/A |
| 11/5/09 | Credit Suisse | IAG.TO | Industrial Alliance Insurance | Neutral | Outperform | C$31 Up From C$28 |
| 11/4/09 | Credit Suisse | LLL | L-3 Communications Holdings, Inc | Neutral | Outperform | $82 Down From $86 |
| 11/2/09 | Credit Suisse | ERJ | Embraer-Empresa Brasileira De Aeronautica SA | Underperform | neutral | $ 22 |
| 11/2/09 | Credit Suisse | ODP | Office Depot Inc | Underperform | Neutral | N/A |
| 10/30/09 | KeyBanc Capital Markets | LVS | Las Vegas Sands Corp. | Underweight | Hold | $8 |
| 10/30/09 | KeyBanc Capital Markets | MGM | MGM MIRAGE | Underweight | Hold | $5.50 |
| 10/30/09 | KeyBanc Capital Markets | WYNN | Wynn Resorts LTD | Underweight | Hold | $45 |
| 10/29/09 | Credit Suisse | AEM.TO | Agnico- Eagle Mines Ltd. | Neutral | Outperform | $68 down from $80 |
| 10/28/09 | KeyBanc Capital Markets | AKS | AK Steel Holding Corp. | Hold | Buy | N/A |
| 10/28/09 | KeyBanc Capital Markets | X | United States Steel Corp. | Hold | Buy | N/A |
| 10/28/09 | KeyBanc Capital Markets | SO | Southern Co. | Hold | Buy | N/A |
| 10/26/09 | Credit Suisse | TCL_A.TO | Transcontinental Inc. | Underperform | Neutral | C$10.50 |
| 10/22/09 | KeyBanc Capital Markets | BRY | BERRY PETROLEUM CO | Hold | Buy | N/A |
| 10/22/09 | KeyBanc Capital Markets | FWRD | Forward Air | Hold | Buy | N/A |
| 10/19/09 | KeyBanc Capital Markets | SAFM | Sanderson Farms Inc | Hold | Buy | N/A |
| 10/16/09 | KeyBanc Capital Markets | CFX | Colfax Corporation | Hold | Buy | N/A |
| 10/15/09 | FBR Capital Markets | VOCS | VOCUS, INC. | Market Perform | Outperform | $22 |
| 10/13/09 | KeyBanc Capital Markets | JOYG | Joy Global Inc. | Hold | Buy | N/A |
| 10/9/09 | Credit Suisse | RAH | Ralcorp Holdings | Neutral | Outperform | $64 down from $75 |
| 10/8/09 | KeyBanc Capital Markets | NCR | NCR Corp. | Hold | Buy | N/A |
| 10/6/09 | Credit Suisse | DVN | Devon Energy Corp. | Underperform | Neutral | $59 up from $54 |
| 10/6/09 | Credit Suisse | CHK | Chesapeake Energy Corp. | Underperform | Neutral | $24 up from $19 |
| 10/5/09 | FBR Capital Markets | AMD | Advanced Micro Devices Inc. | Market Perform | Outperform | $6 Down From $7 |
| 10/1/09 | Credit Suisse | KBH | KB Home | Neutral | Outperform | $17 down from $19 |
| 10/1/09 | Credit Suisse | ROC | ROCKWOOD HOLDINGS INC | Neutral | Outperform | $22 |
| 9/30/09 | KeyBanc Capital Markets | RAIL | FREIGHTCAR AMERICA, | Hold | Buy | N/A |
| 9/30/09 | KeyBanc Capital Markets | TISI | Team Inc. | Hold | Buy | N/A |
| 9/29/09 | Credit Suisse | BIP | Brookfield Infrastructure Partners | Underperform | Neutral | $14 |
| 9/29/09 | FBR Capital Markets | SNV | Synovus Financial | Underperform | Market Perform | $2.50 Down From $3 |
| 9/25/09 | FBR Capital Markets | WBSN | Websense Inc. | Market Perform | Outperform | $18 |
| 9/24/09 | Credit Suisse | EXH | Exterran Holdings | Neutral | Outperform | $27 up from $22 |
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