Upgrades
- Range Resources (RRC) upgraded by Guggenheim from Neutral to Buy
- SM Energy (SM) upgraded by Guggenheim from Neutral to Buy
- Ramco-Gershenson (RPT) upgraded by Wunderlich from Hold to Buy
- First Niagara (FNFG) upgraded by Goldman from Sell to Neutral
- MGM Resorts (MGM) upgraded by UBS from Neutral to Buy
- MSCI (MSCI) upgraded by UBS from Neutral to Buy
- Nutrisystem (NTRI) upgraded by Barrington from Market Perform to Outperform
- Mercer (MERC) upgraded by Credit Suisse from Neutral to Outperform
- Genesee & Wyoming (GWR) upgraded by Macquarie from Neutral to Outperform
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Downgrades
- IAG (ICAGY) downgraded by HSBC from Buy to Hold
- easyJet (ESYGY) downgraded by HSBC to Reduce from Hold
- Jumei (JMEI) downgraded by Goldman from Buy to Neutral
- Arthur J. Gallagher (AJG) downgraded by Goldman from Buy to Neutral
- Arista Networks (ANET) downgraded by Goldman from Neutral to Sell
- Valeant (VRX) downgraded by Goldman from Buy to Neutral
- Anadarko (APC) downgraded by Guggenheim from Buy to Neutral
- Calpine (CPN) downgraded by Deutsche Bank from Buy to Hold
- ITT Corp. (ITT) downgraded by UBS from Neutral to Sell
- Phillips 66 (PSX) downgraded by Credit Suisse from Outperform to Neutral
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