Analyst upgrades:

• RBC Capital upgraded Fidelity National (FIS) to outperform from sector perform. The firm upgraded the stock due to valuation, and its belief that the company will clear up issues related to its merger on its Analyst Day, scheduled for Dec. 7. The firm set a $28 target on the stock.
• Citigroup upgraded Smith International (SII) to buy from hold, citing the sell-off in shares following its 28M share equity offering. Note that Smith International priced 28M shares Tuesday at $26.50.
• Wells Fargo upgraded DynCorp (DCP) to outperform from market perform. The firm upgraded the stock on valuation, and because it believes that the impact on DynCorp of a possible indictment of PWC will be minimal, if any.
• Rockwell (ROK) was upgraded to overweight from neutral at HSBC.
• Omega Healthcare (OHI) was upgraded to outperform from market perform at JMP Securities.
• Analog Devices (ADI) was upgraded to conviction buy from buy at Goldman.

• JP Morgan upgraded Alcoa (NYSE: AA) to Overweight from Neutral and added shares to its Focus List. The analyst said the equity offering and dividend cut provide enough "liquidity insurance" to make it through 2009 and now views risk/reward as attractive.
  
• Deutsche Bank upgraded Asbury Automotive (NYSE: ABG) to Buy from Hold as it finds the current valuation attractive and thinks the company's cost savings will drive upside in a recovery. The firm raised its target price to $7 from $5.50.
  
• Barclays upgraded Beckman Coulter (NYSE: BEC) to Overweight from Equal Weight. Following their healthcare conference and management meetings, the firm sees increased visibility into revenues.
• Waddell & Reed (NYSE: WDR) was raised to Buy from Neutral at Goldman.
  
• Nokia (NYSE: NOK) was upgraded to Outperform from Neutral at Credit Suisse.
  
• Brocade (NASDAQ: BRCD) was lifted to Outperform from Sector Perform at RBC Capital.

MAJOR PAPERS:

• The Wall Street Journal's "Smartmoney Stock Screen" looks at eight companies whose valuations make them ripe to buy, and they also may be in the sites of corporate buyers. The big eight include Asbury Automotive Group Inc (NYSE: ABG), Crane Company (NYSE: CR), Scholastic Corporation (NASDAQ: SCHL) and The Scotts Miracle-Gro Company (NYSE: SMG).
• The Wall Street Journal's Walter Mossberg said in the "Personal Technology" column that he cannot recommend Apple Inc's (NASDAQ: AAPL) MobileMe, as it has "too many flaws to keep its promises".
• The Wall Street Journal also speculated that the collapse this week of SemGroup LP, which is the parent of SemGroup Energy Partners LP (NASDAQ: SGLP), may have played a role in the 14% drop in crude oil over the past 10 days.
• In a move that could take advantage of the gap in the financing markets, The Goldman Sachs Group Inc (NYSE: GS) raised $10B to invest in loans backing leveraged buyouts. The fund will reportedly buy senior loans, the Financial Times reported.

• Former American International Group Inc (NYSE: AIG) chief Hank Greenberg is reportedly in settlement talks with New York Attorney General Andrew Cuomo over charges that Greenberg improperly inflated corporate books to show improved profits, the New York Post said.