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MOST NOTEWORTHY: Chevron, AXA and Emageon were today's noteworthy upgrades:
- Bears Stearns upgraded shares of Chevron (NYSE:CVX) to Outperform from Peer Perform after raising their oil price assumption for 2008 to $75 per barrel from $60 per barrel. They believe CVX should benefit from stronger earnings.
- AXA (NYSE:AXA) was raised to Outperform from Neutral at Credit Suisse, as they believe positive Q4 sales results will ease concerns on the impact of the economic slowdown.
- Friedman Billings raised its rating on Emageon (NASDAQ:EMAG) to Outperform from Market Perform based on valuation and the belief that the Q4 EPS turnaround is on track.
OTHER UPGRADES:
Once again, OPEC has killed the goose that lays the golden egg
Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down 
Where have all the consumers gone?
