Stock Upgrades, Downgrades from TheStreet.com Ratings

Orsus Xelent Technologies(ORS Quote) and its subsidiaries design cellular phones for retail and wholesale distribution in the People's Republic of China. It has been upgraded to a hold from a sell. Net income increased by 26.6% to $1.45 million in the second quarter compared to the same period last year.

The stock price has increased by 126.53% in the past 12 months, and the hold rating indicates that TheStreet.com Ratings does not recommend additional investment right now. However, its return on equity decreased to 28.55% in the second quarter compared with 36.54% in the same period last year. This is a clear sign of weakness within the company. Orsus had been rated a sell since August 2007.

TheStreet.com Ratings has initiated coverage of Synergetics(SURG Quote), which manufactures and markets microsurgical instruments for use in vitreoretinal surgery and neurosurgical applications. It has been rated a sell.

The company's earnings fell to 2 cents a share in the fourth quarter of its fiscal 2007 compared with 3 cents per share in the same period last year. Synergetics' stock price has fallen by 31.01% in the last 12 months, and despite the decline, it would be a mistake to assume that the stock can now be tagged as cheap and attractive. Based on its current price in relation to its earnings, Synergetics is still more expensive than most of the other companies in its industry.