Analyst upgrades:

• UBS upgraded Corning (NYSE: GLW) to Buy from Neutral and raised its target to $19 from $18.50, citing the improved LCD supply-demand outlook and improved sell-through ahead of the holiday season in China.
• Credit Suisse upgraded Newfield Exploration (NYSE: NFX) to Outperform from Neutral and raised its target to $48 from $44 citing valuation and improved asset quality.
• Stifel upgraded Newfield Exploration and Ultra Petroleum (NYSE: UPL) shares to Buy from Hold based on strong fundamentals and a long-term positive view for the E&P sector. The firm has a $50 target on Newfield and a $58 target on Ultra Petroleum.
• TJX Companies (NYSE: TJX) was upgraded to Conviction Buy from Buy at Goldman.
• General Mills (NYSE: GIS) was upgraded to Overweight from Equal Weight at Morgan Stanley.
• Coca-Cola Femsa (NYSE: KOF) was upgraded to Buy from Neutral at BofA/Merrill.

Analyst upgrades:

• Keefe Bruyette upgraded American Express (NYSE: AXP) to Outperform from Market Perform to reflect improving credit trends following the July monthly data. The firm raised its target price on shares to $37.
• Oppenheimer upgraded Corning (NYSE: GLW) to Outperform from Perform as it believes 2010 estimates are achievable and concerns over falling LCD demand are overdone. The firm set a $19 price target on the stock.
• JPMorgan upgraded International Game Technology (NYSE: IGT) to Overweight from Neutral on valuation and expectations domestic replacement orders will pick up. The firm has a $23 price target on shares.
• Goldman Sachs (NYSE: GS) was raised to Buy from Neutral at Pali Capital.
• Portland General Electric (NYSE: POR) was upgraded to Buy from Neutral at Goldman.
• Mechel Steel (NYSE: MTL) was upgraded to Neutral from Reduce at Nomura.

Analyst upgrades:

• Barclays believes Disney (NYSE: DIS) is the best positioned company for "media's digital evolution." The firm upgraded shares to Overweight from Underweight and has a $32 target on shares.
  
• Oppenheimer upgraded Semtech (NASDAQ: SMTC) to Outperform from Perform after channel checks indicated improved inventory levels, better product mix, and market share gains. The firm set a $20 target on the stock.
  
• RBC Capital expects Rigel's (NASDAQ: RIGL) R788 in RA to achieve its primary endpoint in the Phase II trials. Shares were upgraded to Sector Perform from Underperform and the price target was raised to $8 from $6.
• WebMD (NASDAQ: WBMD) was upgraded to Accumulate from Sell at ThinkEquity.
  
• International Game Tech (NYSE: IGT) was raised to Conviction Buy from Neutral at Goldman.
  
• Infineon (NYSE: IFX) was lifted at Banc of America/Merrill to Buy from Neutral.

Analyst upgrades:

• Merriman upgraded Taser (NASDAQ: TASR) to Buy from Neutral as it believes current valuation levels do not reflect the company's market opportunities and that the law enforcement funding in President Obama's stimulus plan will boost sales in Q4 and FY10.
  
• Goldman upgraded Macy's (NYSE: M) to Buy from Neutral and added shares to its Conviction Buy List based on reduced balance sheet concerns and improved risk/reward. The firm also raised their target to $8.25 from $8.
  
• JP Morgan upgraded Family Dollar (NYSE: FDO) to Neutral from Underweight and raised its target to $29 from $19 following the better-than-expected Q2 report. The analyst continues to prefer Dollar Tree (NASDAQ: DLTR) and Wal-Mart (NYSE: WMT).
• Goldman removed Universal Am (NYSE: UAM) from the Conviction Sell List.
  
• McDermott (NYSE: MDR) was upgraded to Buy from Hold at Jefferies.
  
• Canadian Natural (NYSE: CNQ) was upgraded to Sector Outperformer from Sector Performer at CIBC.

TheStreet.com's Jim Cramer says companies saddled with high debt loads can be found in every sector in every business.

Overleveraged. Too much debt. Need to pay down debt. How many times have you read that story?

You read it so much because it plays out every day and plays havoc with stock picking almost every time you see a savory stock down on its luck.

This weekend, as I went through the charts, I was amazed at how low some stocks have gone, stocks that I would normally say to just take a flyer on, but turn out to have so much debt, short- and long-term, that they are just too dangerous.

Consider these perhaps poisonous morsels:

Analyst upgrades:

• Goldman upgraded Baidu (NASDAQ: BIDU) to Buy from Neutral and added shares to its Conviction Buy List. The analyst expects Baidu to benefit from growth in paid search in China, where growth is expected to be 30% annually.
  
• Friedman Billings upgraded shares of Corporate Office Properties (NYSE: OFC) to Outperform from Market Perform to reflect the company's exposure to the "sound" Washington, D.C., market and "favorable" liquidity position.
  
• Soleil upgraded Sunoco (NYSE: SUN) to Buy from Hold and raised its target to $45 from $38 on the strength of the company's non-refining segment.
• Mosaic (NYSE: MOS), Potash (NYSE: POT), Intrepid Potash (NYSE: IPI) and Terra Industries (NYSE: TRA) were upgraded to Buy from Neutral at Merrill Lynch.
  
• Kroger (NYSE: KR) was upgraded to Neutral from Underweight at JP Morgan.

Analyst downgrades:

• Jefferies downgraded shares of Bronco Drilling (NASDAQ: BRNC) to Underperform from Hold and lowered its target to $4.50 from $7.50 on valuation and their expectations for a rig decline in U.S. drilling activity.
  
• Morgan Stanley cut Credit Suisse (NYSE: CS) to Equal Weight from Overweight into reporting season on concerns of further impairment charges.
  
• Deutsche Bank downgraded Ericsson (NASDAQ: ERIC) to Sell from Hold to reflect challenges in the handset market.
• Alcatel-Lucent (NYSE: ALU) was lowered to Sell from Hold at WestLB.
  
• BT Group (NYSE: BT) was slashed at JP Morgan to Underweight from Neutral.
  
• Sovereign Bancorp (NYSE: SOV) was downgraded to Market Perform from Outperform at Keefe Bruyette.

Analyst initiations:

I have a soft spot for Shuffle Master (NASDAQ: SHFL). A few years back, I owned the stock when it was in its growth phase and made a little money on it. Now, though, the gambling entity's shares are stuck in $5-land, and it's truly been a terrible stock.

Well, on Monday, Shuffle Master reported earnings for the third quarter after the market closed. In a relative sense, the numbers weren't too bad, but at the same time, they in no way make me want to buy the stock. And believe me, I have been waiting for the day when data will reveal that Shuffle Master is a buy. I just feel that the company can return to growth at some point. Gambling isn't going away, right?

Anyway, according to this RTTNews link, revenues increased nearly 10% during the quarter, but sadly, the bottom line couldn't move. Shuffle Master booked only $0.08 per share in terms of net income, a stat which represents 0% growth. It also was a miss by two pennies of Wall Street's estimates. However, according to the press release issued by the company, there is one neat silver lining in the form of cash from operations. That metric increased 9% during the quarter, and it was driven by diligent management of working capital changes.

Analyst upgrades:

• Citigroup upgraded shares of Amgen Inc. (NASDAQ: AMGN) to Buy from Hold and raised the target price to $70 from $50 following AMGN's better-than-expected Q2 results and positive Dmab results.
• Credit Suisse upgraded Electronic Data Systems (NYSE: EDS) to Neutral from Underperform and expects the Hewlett-Packard (NYSE: HPQ) transaction to close at the $25/share price.

Analyst downgrades:

• JP Morgan downgraded OmniVision (NASDAQ: OVTI) to Neutral from Overweight citing slowing growth and increased competition, as well as the impact on margins.
• Constellation Energy (NYSE: CEP) was downgraded at Lehman to Equal Weight from Overweight.
  
• International Game Tech (NYSE: IGT) was downgraded to Market Perform from Outperform at Wachovia.

Analyst initiations:

• KeyBanc said Visa's (NYSE: V) strengths are its recurring revenue model, significant pricing power, no consumer credit risk, operating leverage, expense flexibility, and considerable free cash flow, among other reasons. The firm initiated shares with a Buy rating and $94 target.
  
• Regal Entertainment (NYSE: RGC) was assumed at Caris with an Average rating and $18 target. The firm sees tough comps ahead for the company and does not expect any meaningful price increases.
  
• Caris also initiated Marvel Entertainment (NYSE: MVL), as they are positive on the company's new financing vehicle. Shares were initiated with a Buy rating and $45 target.
• Goldman initiated textile, apparel and footwear stocks. Aeropostale (NYSE: ARO) and Urban Outfitters (NASDAQ: URBN) were initiated with Buy ratings, Lululemon (NASDAQ: LULU) and Abercrombie & Fitch (NYSE: ANF) were started with Neutral ratings and American Eagle (NYSE: AEO) was initiated with a Sell rating.

MOST NOTEWORTHY: The Refining Sector, International Game Tech and Gilead Sciences were today's noteworthy downgrades:

• Bernstein downgraded the Refining Sector to Market Weight from Overweight based on the weakening earnings outlook for the group. The firm downgraded Sunoco (NYSE: SUN) and Tesoro (NYSE: TSO) to Market Perform from Outperform.
  
• Citigroup downgraded shares of International Game Tech (NYSE: IGT) to Hold from Buy following the company's lower than expected guidance and removed the stock from their Top Picks Live List. The firm lowered their target to $25 from $45. Shares were also downgraded at Oppenheimer to Perform from Outperform following the company's lower-than-expected results.
  
• Jefferies cut Gilead Sciences (NASDAQ: GILD) to Hold from Buy following the company's Q2 results as they see limited upside catalysts and a matured core HIV drug franchise. The firm maintains a $56 target. BMO Capital downgraded GILD to Market Perform from Outperform based on valuation, flattening HIV sales, Letairis growth below expectations, and increased R&D costs.

OTHER DOWNGRADES:

• Best Buy (NYSE: BBY) was downgraded at RBC Capital to Outperform from Top Pick.
  
• Goldman removed Coca-Cola (NYSE: KO) from the Conviction Buy List.
  
• Progressive (NYSE: PGR) was lowered to Neutral from Outperform at Credit Suisse.

You think financial stocks are having a tough time? Check out what happened to Shuffle Master (NASDAQ: SHFL) yesterday. Its stock closed down over 26%. Talk about a bad gamble!

The company, which makes card shufflers and other products for the casino industry, has been doing horribly for a while now, even with its 30 cent bounce today. It was once a mighty growth stock, but it is currently relegated to, as of this writing, approximately-$5-per-share-status. The latest calamitous catalyst was an earnings report released on Monday which missed the expectations of Wall Street brass. Net sales for Shuffle Master's first quarter increased by 1% -- not exactly stellar top-line appreciation. Net income from continuing operations came in at a loss of $0.05 per diluted share; in the previous year's quarter, Shuffle Master saw a profit of $0.05 per diluted share from continuing operations. Apparently, analysts were looking for $0.08 per share in positive profit. They didn't get that, and then some. I'll say this, though -- cash from operations did more than double. There is at least some positive in that, I suppose.

If a picture is worth many words, if it does indeed tell a story, then a look at Shuffle Master's chart shows a tale that could only have been written by Stephen King -- a blood-soaked, gory, tortured-scream-inducing piece of prose that makes the reader want to vomit and pray for early death. Again, this isn't a financial stock, but it sure does seem like one. Several years ago, I made some money on Shuffle Master. But the days of making money from it are done for now. I do believe in the long-term power of the gambling industry, but I have no choice but to be bearish on Shuffle Master. It may recover over time, it could find its footing yet again, but I just don't perceive a value just yet. Plus, if you're looking for ideas in this sector, you can check out other companies such as International Game Technology (NASDAQ: IGT) and Wynn Resorts (NASDAQ: WYNN).

Disclosure: I don't own any of the companies mentioned here in any of my portfolios.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My top speculative idea for 2008 is International Game Technology (NYSE: IGT)," says Paul Tracy, editor of StreetAuthority Market Advisor.

"IGT is the world's leading slot machine manufacturer. In addition to basic slot machine design and sales, the company generates more than half of its revenues by leasing machines to casinos in exchange for a percentage of the net win.

"This gaming business provides the firm with a recurring stream of high-margin revenues. Thanks to steady expansion in recent years, IGT now draws income from about 60,000 machines installed throughout casinos in key gaming markets across the globe.

"With deep pockets and steady cash flows, the company has been able to spend nearly twice as much on research and development activities as its closest competitors. In a recent poll conducted by Casino Player magazine, seven of the top ten most popular video slots were introduced by IGT.

Have you girded your stock portfolio against recession? You may want to take some tips from the latest edition of StockWatch: Between the Bells with Kevin Depew. The Minyanville.com executive editor offers some stock plays to head off a broad downturn in the market, and explains how large-cap companies are moving the market.

"Since the first 'one-armed bandit' was introduced in the late 1800s, slot machines have become a thriving multi-billion dollar global industry," says says Nathan Slaughter. "And International Game Technology (NYSE: IGT) is the '800-pound gorilla' in the slot machine industry" he explains in his Half-Priced Stocks.

And while he notes that the earliest slot machines were crude mechanical devices, the latest are "technological marvels," equipped with rich high-resolution plasma monitors, stereo surround-sound speakers, live streaming video, and other features.

And looking ahead, Slaughter explains, there are other exciting developments on the horizon to look forward to -- such as server-based gaming, where entire banks of slot machines connected to a central server can be reconfigured instantly.

In Nevada, he notes, slot revenues surpassed those generated by blackjack and other table games in 1981 and never looked back. Last year, he observes, they accounted for 66% of total casino revenues statewide.

TheStreet.com's Jim Cramer explains a prudent buying technique to use when the market has gotten a lot better fast.

Is it too late to get into a Caterpillar (NYSE: CAT) (Cramer's Take) or a Goldman Sachs (NYSE: GS) (Cramer's Take)? How about a Bear Stearns (NYSE: BSC) (Cramer's Take) or an International Game Technology (NYSE: IGT) (Cramer's Take)?

The answer to individual stocks is that if they havae had a huge run, you have to be careful about getting in. Goldman Sachs deserves to sell off, given its recent run. That statement is not indicative of whether there are skeletons in the closet or that Goldman didn't mark securities right. It has to do with not being a pig.

I feel the same way about CAT, which was at $70 not that long ago. Same with many of the banks. It is difficult to buy here.

That said, I think that there are more gains ahead, so what's the point of waiting?

International Game Technology (NYSE: IGT) implied volatility and call volume Jumps on Chatter.

• IGT specializes in the design, manufacturer and marketing of computerized gaming equipment. IGT is recently up $1.28 to $39.18 on unconfirmed takeover chatter.
• IGT call option volume of 12,038 contracts compares to put volume of 576 contracts. IGT June option implied volatility of 34 is above its 26-week average of according to Track Data, suggesting larger risk.

Salesforce.com, Inc. (NYSE: CRM) option volume heavy; volatility flat on Speculative chatter.

• CRM, an on demand customer relationship management applications company, is recently up $0.76 to $43.83 on take over speculation.
• CRM reported first quarter revenue of $162 million yesterday. GROW has a Buy rating on CRM.
• CRM June option implied volatility of 40 is below its 26-week average of 44 according to Track Data, suggesting decreasing risk.

Option volume leaders today are: Intel Corp. (NASDAQ: INTC), Elan Corp. (NYSE: ELN), Apple Inc. (NASDAQ: APPL) and U.S. Steel Corp. (NYSE: X).

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