The shares of Fluor Corporation (FLR), a leading international design, engineering, and contracting firm that was first discussed here on February 17, 2009, at a price of $39.21, have pulled-back, due to the Dow's recent retreat and U.S. work stoppages in the oil/natural gas sector.

Further, FLR's price has drifted dangerously close to the sell/stop loss at $39. Still, the calculation here is that the shares will hold support at $40, then start heading north again as oil/natural gas projects slowly resume in the quarters ahead.

Do not underestimate the power of a new administration in Washington. With the ability to spend a huge amount of dollars, team Obama can wield tremendous influence in the market.

Case in point is the stem cell space. It is widely expected that Obama will issue an executive order eliminating restrictions on stem cell research.

Stocks like StemCells Inc. (NASDAQ: STEM) and Geron Corp. (NASDAQ: GERN) have been moving higher since the inaugural.

Coincidentally, on Friday, GERN announced approval for human trials for its treatment of spinal chord injuries using stem cells. Both GERN and STEM were up big as a result.

Another space expected to do well under the Obama administration is construction. A massive stimulus plan is said to be coming in February. A key point of the plan will be to boost infrastructure spending.

The dollars will benefit companies like Fluor Corp. (NYSE: FLR) and Jacobs Engineering (NYSE: JEC). Unlike stem cells, the market has yet to move these stocks higher. FLR is down more than 10% and JEC is down nearly 18% so far this year.

MOST NOTEWORTHY: BioScrip, Chipotle Mexican Grill and CoStar Group were today's noteworthy upgrades:

• BioScrip (NASDAQ: BIOS) was raised to Buy from Neutral at Broadpoint, as they believe the company's specialty business is worth more than the current price implies.
  
• Baird upgraded Chipotle Mexican Grill (NYSE: CMG) to Outperform from Neutral following Q4 results, citing valuation and a positive view on fundamentals.
  
• CoStar Group (NASDAQ: CSGP) was upgraded to Outperform from Market Perform at JMP Securities, as they expect the company to report a solid quarter next Thursday.

OTHER UPGRADES:

• Groupe Danone (OTC: GDNNY) was upgraded to Buy from Hold at ING.
  
• UBS raised Senior Housing Properties (NYSE: SNH) and Fluor Corp (NYSE: FLR) to Buy from Neutral.
  
• Morgan Stanley upgraded RenaissanceRE Holdings (NYSE: RNR) to Overweight from Equal Weight.