Top Pre-Market Upgrades/Downgrades (AMLN, MT, PHM, AKAM, DO, LGF, JBLU, DAL)

Here is a list of this morning’s top companies upgrades, downgrades, and initiations by brokerage firms.

Upgrades:

• Amylin Pharmaceuticals (AMLN) upgraded to Overweight at Piper Jaffray
• ArcelorMittal (MT) upgraded to Buy at Collins Stewart
• Ceragon Networks (CRNT) upgraded to Buy at Merriman
• PulteGroup (PHM) upgraded to Buy at Citigroup

Downgrades:

• Akamai Technologies (AKAM) downgraded to Hold at Citigroup
• CDC (CHINA) downgraded to Neutral at Janney Montgomery Scott
• Diamond Offshore Drilling (DO) downgraded to Market Perform at Raymond James
• Fuel Systems Solutions (FSYS) downgraded to Neutral at Janney Montgomery Scott
• Lions Gate Entertainment (LGF) downgraded to Market Perform at BMO Capital

Coverage Initiated:

• AirTran (AAI) initiated with a Buy at Deutsche Bank
• AMR (AMR), Continental Airlines (CAL), Delta Air Lines (DAL), JetBlue Airways (JBLU), Pinnacle Airlines (PNCL), Southwest Airlines (LUV), US Airways (LCC), initiated with a Buy at Deutsche Bank