• Axys Tech (NASDAQ: AXYS) was upgraded to Buy from Hold at Morgan Joseph based on valuation.
  
• Elizabeth Arden (NASDAQ: RDEN) was upgraded to Buy from Hold at Wedbush on valuation and the success of the company's Viva La Juicy launch.

• Keefe Bruyette downgraded Greenhill & Co. (NYSE: GHL) and Evercore Partners (NYSE: EVR) to Market Perform from Outperform on valuation and lowered its estimates to reflect slower than initially expected M&A advisory transactions. Greenhill's target was lowered to $66 from $72 and Evercore's was cut to $14.50 from $16.
  
• Collins Stewart downgraded shares of Thermage (NASDAQ: THRM) to Hold from Buy following the Reliant acquisition to reflect integration and balance sheet concerns.

• Roth Capital views American Oriental (NYSE: AOB) as a cash-rich, multi-faceted pharmaceutical company that is well equipped to handle unforeseen changes in China's Health care market. Shares were initiated with a Buy rating and $10 target.
  
• Jesup & Lamont believes Bristow Group (NYSE: BRS) is well positioned in current downturn as the majority of its business is in production platforms and drilling rigs. The firm started shares with a Buy rating and $37 target.
  
• Barrington initiated BWAY Holding (NYSE: BWY) with an Outperform rating and $9 target. The firm believes the company is an early cycle business that should benefit from cost reduction activity.
• Grand Canyon (NASDAQ: LOPE) was assumed with a Buy rating and $21 target at Piper Jaffray.

Analyst upgrades, downgrades and initiations: AXYS, RDEN, GHL, AOB, BWY ... originally appeared on BloggingStocks on Tue, 30 Dec 2008 10:45:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan initiated shares of Aruba Networks (NASDAQ: ARUN) with a Neutral rating. The firm believes Aruba shares are fully valued at these levels and reflects strong growth with operating leverage.Pacific Crest believes Aruba, initiated with a Sector Perform rating and $19 target, is a strong alternative to Cisco Systems (NASDAQ: CSCO) in the WLAN market and its strong position as a point vendor makes the company an attractive acquisition candidate.

• Leerink Swann estimates the aesthetic energy devices sector is likely to experience 20% revenue growth over the next five years. The firm finds Thermage (NASDAQ: THRM) a turnaround-story which has a compelling mix of revenues from disposable tips while Cynosure (NASDAQ: CYNO) is capitalizing successfully on new product cycles with Affirm and SmartLipo. Palomar Medical Technologies (NASDAQ: PMTI) is viewed as the IP leader for hair removal products; Leerink initiated Thermage and Cynosure with Outperform ratings and Palomar with a Market Perform rating.

• Emeritus Corp (AMEX: ESC) was initiated with a Buy rating and $33 target at Stifel, which believes ESC has one of the best cash earnings growth stories among any of the traded senior housing companies.

• CE Unterberg started shares of Synchronoss (NASDAQ: SNCR) with a Buy rating and $41 target.

• Rodman & Renshaw started shares of Array Biopharma (NASDAQ: ARRY) and Tapestry Pharma (NASDAQ: TPPH) with Market Outperform ratings and an $18 target and $5 target, respectively.

• Blackstone Group (NYSE: BX) was initiated with an Overweight rating and $41 target at Morgan Stanley.

Analyst initiations: ARUN, BX and ESC originally appeared on BloggingStocks on Mon, 13 Aug 2007 00:24:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal (subscription required) highlighted Apple Inc's (NASDAQ: AAPL) ongoing options probe among its headlines.
• Federal Authorities are "actively" investigating backdated stock-option grants awarded to Steve Jobs, Apple's CEO.
• The NYSE Group's (NYSE: NYX) New York Stock Exchange is planning a pilot program later this year that may bring real-time stock price data to investors via web sites such as Google Inc (NASDAQ: GOOG) and Yahoo Inc (NASDAQ: YHOO).
• The Financial Times (subscription required) highlighted Britain's announcement to pull troops out of Iraq as the U.S. adds more to Iraq.
• Siemens AG's (NYSE: SI) ex-CFO Heinz-Joachim Neuburgerwas named in a bribery probe.
• British Prime Minister William Blair is set to announce an Iraq troop pullout of 2,600 soldiers.
• Regulators in Britain say that stem cell work with animals may be legal, despite a proposal to ban on hybrid embryo experiments.

• The Economic Times reports that Reliance Industries may make a bid for General Electric Company's (NYSE: GE) Plastics Operations.
• The Chicago Tribune reports that McDonald's Corporation (NYSE: MCD) may put its Boston Market chain up for sale.
• CNet.com reports that Microsoft Corp (NASDAQ: MSFT) has lost its top executive in China, Li Gong.
• Investor's Business Daily's "New America" column said that Middleby Corp (NASDAQ: MIDD) should profit from the trend away from trans fats with their new Rocket Fryer.
• BusinessWeek's "Inside Wall Street" column mentioned Lockheed Martin Corporation (NYSE: LMT), Sempra Energy (NYSE: SRE) and Thermage Inc (NASDAQ: THRM) positively.

Newspaper wrap-up 1-12-07: Apple in news for options probe originally appeared on BloggingStocks on Fri, 12 Jan 2007 09:00:00 EST. Please see our terms for use of feeds.