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    Upgrades & Downgrades History
    UPGRADES & DOWNGRADES HISTORY 
    DateResearch FirmActionFromTo
    9-Apr-14BarclaysUpgradeEqual WeightOverweight
    26-Mar-14FBR CapitalUpgradeMkt PerformOutperform
    13-Nov-13FBR CapitalInitiatedMkt Perform
    11-Nov-13BarclaysDowngradeOverweightEqual Weight
    6-Nov-13RBC Capital MktsDowngradeOutperformSector Perform
    4-Nov-13Telsey Advisory GroupInitiatedNot Rated
    16-Nov-12Imperial CapitalUpgradeIn-lineOutperform
    23-Jul-12KeyBanc Capital MktsDowngradeBuyHold
    10-Apr-12Imperial CapitalInitiatedIn-line
    28-Feb-12FBR CapitalDowngradeOutperformMkt Perform
    21-Oct-11Brean MurrayDowngradeBuyHold
    21-Apr-11KeyBanc Capital MktsUpgradeHoldBuy
    31-Jan-11KeyBanc Capital MktsDowngradeBuyHold
    28-Jan-11FBR CapitalInitiatedOutperform
    22-Oct-10JefferiesUpgradeHoldBuy
    4-Oct-10MerrimanUpgradeNeutralBuy
    10-Aug-10MerrimanInitiatedNeutral
    16-Jul-10JefferiesInitiatedHold
    31-Mar-10Sterne AgeeInitiatedBuy
    18-Mar-10Deutsche BankInitiatedBuy
    30-Jul-09SMH CapitalUpgradeNeutralAccumulate
    13-Jul-09Brean MurrayUpgradeHoldBuy
    9-Jul-09SMH CapitalUpgradeReduceNeutral
    21-Apr-09Morgan JosephDowngradeBuyHold
    6-Apr-09SMH CapitalDowngradeAccumulateReduce
    3-Apr-09Brean MurrayDowngradeBuyHold
    6-Mar-09Janney Mntgmy ScottInitiatedBuy
    6-Feb-09SMH CapitalUpgradeNeutralAccumulate
    6-Jan-09SMH CapitalDowngradeBuyNeutral
    2-Dec-08Stifel NicolausInitiatedBuy
    24-Nov-08SMH CapitalInitiatedBuy
    21-Oct-08KeyBanc Capital MktsUpgradeHoldBuy
    12-Aug-08JP MorganUpgradeNeutralOverweight
    8-Aug-08Deutsche SecuritiesUpgradeHoldBuy
    7-Jul-08Sterne AgeeUpgradeHoldBuy
    23-Apr-08Sterne AgeeDowngradeBuyHold
    25-Feb-08Brean MurrayUpgradeHoldBuy
    16-Jan-08Jefferies & CoUpgradeHoldBuy
    29-Oct-07Brean MurrayDowngradeBuyHold
    26-Oct-07Jefferies & CoDowngradeBuyHold
    15-Aug-07Nollenberger CapitalUpgradeNeutralBuy
    13-Aug-07Morgan JosephUpgradeHoldBuy
    27-Jul-07Jefferies & CoUpgradeHoldBuy
    11-Jun-07Morgan JosephDowngradeBuyHold
    9-Feb-07Jefferies & CoDowngradeBuyHold
    9-Feb-07Deutsche SecuritiesDowngradeBuyHold
    8-Feb-07KeyBanc Capital Mkts / McDonaldDowngradeBuyHold
    26-Jan-07PrudentialInitiatedOverweight
    18-Dec-06Morgan JosephUpgradeHoldBuy
    13-Dec-06Nollenberger CapitalDowngradeBuyNeutral
    12-Oct-06Morgan JosephInitiatedHold
    22-Sep-06WachoviaInitiatedOutperform
    11-Aug-06Goldman SachsInitiatedNeutral
    31-Jul-06Matrix ResearchUpgradeHoldBuy
    28-Jul-06Jefferies & CoUpgradeHoldBuy
    27-Jul-06Nollenberger CapitalUpgradeNeutralBuy
    19-Jul-06CIBC Wrld MktsUpgradeSector PerformSector Outperform
    30-May-06KeyBanc Capital Mkts / McDonaldUpgradeHoldBuy
    25-Apr-06KeyBanc Capital Mkts / McDonaldDowngradeBuyHold
    15-Mar-06Bear StearnsInitiatedOutperform
    8-Mar-06Nollenberger CapitalDowngradeBuyNeutral
    7-Mar-06JP MorganUpgradeNeutralOverweight
    16-Feb-06Jefferies & CoDowngradeBuyHold
    9-Feb-06KeyBanc Capital Mkts / McDonaldUpgradeHoldBuy
    17-Jan-06Nollenberger CapitalUpgradeNeutralBuy
    10-Jan-06Nollenberger CapitalInitiatedNeutral
    5-Dec-05Brean MurrayInitiatedStrong Buy
    27-Oct-05KeyBanc Capital Mkts / McDonaldDowngradeBuyHold
    16-Sep-05Jefferies & CoUpgradeHoldBuy
    18-Jul-05Jefferies & CoDowngradeBuyHold
    21-Jan-05CIBC Wrld MktsDowngradeSector OutperformSector Perform
    14-Dec-04CIBC Wrld MktsUpgradeSector PerformSector Outperform
    30-Nov-04Wells Fargo SecInitiatedHold
    30-Nov-04KeyBanc Capital Mkts / McDonaldInitiatedBuy
    4-Nov-04FulcrumUpgradeNeutralBuy
    8-Sep-04FulcrumDowngradeBuyNeutral
    4-Aug-04Lehman BrothersInitiatedOverweight
    28-Jul-04Deutsche SecuritiesUpgradeHoldBuy
    7-Jul-04Jefferies & CoInitiatedBuy
    4-Feb-04Merrill LynchUpgradeNeutralBuy
    23-Dec-03JP MorganInitiatedNeutral
    21-Nov-03Bear StearnsInitiatedPeer Perform
    14-Nov-03CIBC Wrld MktsDowngradeSector OutperformSector Perform
    12-Sep-03Deutsche SecuritiesInitiatedHold
    30-May-03CIBC Wrld MktsUpgradeSector PerformSector Outperform
    30-May-03Merrill LynchDowngradeBuyNeutral
    29-May-03FulcrumDowngradeBuyNeutral
    8-Jan-03FulcrumInitiatedBuy
    7-Jan-03CIBC Wrld MktsUpgradeSector UnderperformSector Perform
    24-Apr-02CIBC Wrld MktsDowngradeStrong BuyBuy
    27-Mar-02Dresdner Klnwrt WassDowngradeAddHold
    20-Feb-02Bear StearnsInitiatedBuy
    12-Nov-01Merrill LynchInitiatedNT Buy/LT Buy
    29-Jun-01Dresdner Klnwrt WassInitiatedAdd
    6-Jun-01Robertson StephensInitiatedBuy
    28-Mar-01Deutsche Bc Alex. BrInitiatedBuy
    19-Dec-00Lehman BrothersInitiatedBuy
    6-Nov-00Salomon Smth BrnyInitiatedBuy
    21-Jul-00CIBC Wrld MktsInitiatedStrong Buy
    22-Mar-00Lehman BrothersInitiatedBuy

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