Under these economic conditions, you take the good news where you can get it, and one such data point occurred in Nigeria.

A cease fire by Nigeria's oil rebels, the Movement for the Emancipation of the Niger Delta (MEND), went into effect on Sunday, following a meeting between Nigerian President Umaru Yar'Adua and MEND Leader Henry Okah, Bloomberg News reported.

MOST NOTEWORTHY: Chipotle Mexican Grill, Micrus Endovascular and Acorda Therapeutics were today's noteworthy initiations:

• Jefferies expects the quality gap between Chipotle Mexican Grill (NYSE: CMG) and its peers will become more apparent in a weakening consumer environment. The firm started shares with a Buy rating and $110 target.
  
• Micrus Endovascular (NASDAQ: MEND) was initiated with an Outperform rating and $20 target at Barrington, citing the company's strong product line, improving salesforce, leading market share position and their expectation for continued strong transition from clipping to coiling.
  
• Acorda Therapeutics (NASDAQ: ACOR) was assumed with an Overweight rating at JP Morgan, as they believe the company's Fampridine-SR for multiple sclerosis is a $500M + opportunity

OTHER INITIATIONS:

• Stanford initiated Mariner Energy (NYSE: ME) with a Buy rating and $35 target.
  
• Deutsche Bank assumed Liberty Entertainment (NASDAQ: LMDIA) with a Buy rating and $29 target.
  
• EnerNoc (NASDAQ: ENOC) was initiated with a Neutral rating at Broadpoint.

MOST NOTEWORTHY: American Public Education and Micrus Endovascular were today's noteworthy initiations:

• William Blair initiated American Public Education (NASDAQ: APEI) with an Outperform rating, as they believe the company is still in the early stages of its growth.
  
• Gabelli believes Micrus Endovascular (NASDAQ: MEND) can sustain its rapid growth in the coming years and does not expect it to remain independent in the medium-to-long term. The firm started shares with a Buy rating.

OTHER INITIATIONS:

• Carrizo Oil & Gas (NASDAQ: CRZO) was initiated with a Neutral rating at JP Morgan.
  
• Goldman initiated Akamai (NASDAQ: AKAM) with a Neutral rating.

MOST NOTEWORTHY: SuperValu, SunPower, LKQ and Charter Comm were today's noteworthy initiations:

• Banc of America started shares of SuperValu Inc (NYSE: SVU) with a Sell rating and $34 target as they believe the company will struggle to modernize its store base and reset its pricing to more competitive levels over the next 12 months.
  
• William Blair initiated SunPower (NASDAQ: SPWR) shares with an Outperform rating, citing the company's large market opportunity and strong technology/market positioning.
  
• LKQ (NASDAQ: LKQX) was started at Deutsche Bank with a Hold rating and $35 target. The firm believes the company's growth projections are priced into shares.
  
• JP Morgan initiated Charter Communications (NASDAQ: CHTR) with an Overweight rating, as they expect the company to be able to refinance its maturing debt over the next five years and generate attractive returns.

OTHER INITIATIONS:

• B. Riley started Wsfs Financial Corporation (NASDAQ: WSFS) with a Buy rating and $69 target.
  
• Bear initiated Commercial Vehicle Group (NASDAQ: CVGI) with a Peer Perform rating and Tenneco Inc (NYSE: TEN) with an Underperform rating.
  
• Cowen started Micrus Endovascular Corporation (NASDAQ: MEND) with an Outperform rating.

MOST NOTEWORTHY: EDO Corp, General Motors, Cameron, Getty Images and Micrus Endovascular were today's noteworthy downgrades:

• EDO Corporation (NYSE: EDO) was downgraded to Neutral from Outperform at Credit Suisse following the acquisition by ITT Corporation (NYSE: ITT). Shares were also downgraded to Market Weight from Overweight at Thomas Weisel and to Hold from Buy at B&T Capital.
  
• Goldman downgraded shares of General Motors Corporation (NYSE: GM) to Neutral from Buy to reflect risk to the company's international and the slowing U.S. economy. Further, Goldman believes expectations for a deal over healthcare costs with unions are now priced into the stock.
  
• Wachovia downgraded Cameron International (NYSE: CAM) to Market Perform from Outperform on valuation.
  
• Kaufman Bros. downgraded shares of Getty Images Inc (NYSE: GYI) to Sell from Hold to reflect reduced expectations following the company's announced price reductions.
  
• CIBC downgraded shares of Micrus Endovascular Corporation (NASDAQ: MEND) to Sector Performer from Outperformer following the company's lowered guidance..

OTHER DOWNGRADES:

• BB&T downgraded Champion Enterprises (NYSE: CHB) and Palm Harbor Homes (NASDAQ: PHHM) to Hold from Buy.
  
• Stifel downgraded HCP Inc (NYSE: HCP) and Medical Properties Trust Inc (NYSE: MPW) to Hold from Buy.
  
• Goldman downgraded E-Trade Financial Corporation (NASDAQ: ETFC) to Neutral from Buy.
  
• Kellwood Company (NYSE: KWD) was downgraded to Neutral from Buy at Broadpoint.