U.S. stock futures are slightly lower this morning, as investors await data on jobless claims and consumer prices. Futures on the Dow Jones Industrial Average dropped 2 points to 12,250, while S&P 500 futures dropped 0.90 point to 1,332. Nasdaq 100 futures fell 1.50 points to 2,391.

European markets were mixed today. STOXX Europe 600 Index has gained 0.07%, while London's FTSE 100 Index moved down 0.09%.

Asian markets ended higher, with Japan's Nikkei Stock Average gaining 0.26%, Australia's S&P/ASX 200 moving up 0.15% and China's Shanghai Composite gaining 0.11%.

General Mills (GIS) option was active on call volume of 88K contracts, compared to put volume of 8K contracts. October put option implied volatility is at 28, January is at 25, above its 26-week average of 21, according to Track Data. The active call volume suggests traders taking positions for price movement.

Stocks with implied volatility below index mean range: Genzyme (GENZ), Potash (POT) and Chelsea Therapeutic (CHTP), according to IVolatility.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst Upgrades

• Credit Suisse upgraded Alliant Techsystems (ATK) to outperform from neutral following the company's increased FY11 guidance. The firm has an $85 target on the stock.
• FBR Capital upgraded Hyatt Hotels (H) to market perform from underperform following the company's Q2 results. The firm raised its target for shares to $44 from $38.
• BB&T upgraded to Smithfield Foods (SFD) to buy from hold, citing tighter supplies, strong pork prices and improving export demand. The firm has a $19 target on the stock.
• Holly (HOC) was upgraded to outperform from market perform at BMO Capital.
• Cogent Communications (CCOI) was upgraded to outperform from neutral at Cowen.
• Catalyst Health (CHSI) was upgraded to overweight from equal weight at First Analysis.

Analyst Upgrades

• JPMorgan upgraded Coca-Cola (KO) to overweight from neutral due to valuation and expectations that developed market volume should improve. The firm raised its target price for shares to $66.
• BB&T upgraded Nordson (NDSN) to buy from hold and has an $82 price target on the stock. The firm believes certain drivers of Nordson's Advanced Tech unit are becoming more secular vs. cyclical and that the company's EBIT margins can go higher.
• Credit Suisse upgraded Embraer (ERJ) to outperform from underperform, citing the positive announcements from the Famborough Air Show. The firm raised its price target to $37 from $21.
• Universal Health (UHS) was upgraded to outperform from sector perform at RBC Capital.
• Mead Johnson (MJN) was upgraded to conviction buy from buy at Goldman.
• Coventry Health (CVH) was upgraded to outperform from market perform at Leerink.

Proshares UltraShort Barc 20-Year Treasury ETF (TBT) closed at $48.95. TBT April, May and June option implied volatility is at 22, below its 26-week average of 30, according to Track Data, suggesting decreasing price movement.

Two stocks with IV rise on March 24: Genzyme (GENZ) +4%, Annaly Mortgage Management (NLY) +6%, according to IVolatility.

ISE Sentiment Index-ISEE closed at 155 on 3/24/10. ISEE 10-day moving average is 131.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Not all of my stock picks work out. I first wrote about Genzyme Corp. (GENZ) on June 19, 2009, at a price of $55.02. In the fall 2009, Genzyme's technicals had deteriorated to the point that the stock chart formed a bear hug: a bearish pattern, and I noted at that time, I thought that the prudent stance in December was to stand aside.

After falling through key, psychological support at $50, Genzyme's shares found support at/near $47, and have since moved back above $50 and the key 50-day moving average. However, the rally has been less than impressive. The MACD Histogram, a measure of buying pressure and selling pressure is less than convincing: according to my analysis, there's not enough buying pressure. Hence, I'd take the roughly $3 gain.

Genzyne Corp.'s (NASDAQ: GENZ) stock has meandered since the June 19, 2009, Buy recommendation at $55.02, and it appears institutional investors have adopted a wait-and-see stance regarding the company.

Even so, I'm reiterating my Buy rating for GENZ. Here's why: