Analyst upgrades:

• Oppenheimer upgraded Gymboree (NASDAQ: GYMB) to Outperform from Perform following the company's Q2 results to reflect valuation and square footage growth from Crazy 8. The firm has a $52 target on the stock.
• KeyBanc upgraded Lululemon (NASDAQ: LULU) to Buy from Hold on expectations sales and margins will improve in the near-term due to clean inventory levels. The firm recommends a pair trade of long Lululemon, short Under Armour (NYSE: UA).
• Keefe Bruyette upgraded Allied Capital (NYSE: ALD) to Market Perform from Underperform following the company's Q2 results and raised its target on shares to $3.50 from $1.
• Jack in the Box (NASDAQ: JACK) was upgraded to Overweight from Neutral at JPMorgan.
• LogMeln (NASDAQ: LOGM) was upgraded to Overweight from Neutral at Piper Jaffray.
• Barclays (NYSE: BCS) was reinstated with an Outperform from Neutral at Credit Suisse.

Today was one of those Monday trading session that had no real direction and no real data to digest on a macro basis. So traders decided to lighten up after the big runs we have seen, particularly after four weeks of the markets rallying. There is also probably a sense of locking in some gains in case the two day FOMC meeting this week starts to take on a less free-money tone. Here were today's unofficial closing bell levels:
DJIA: 9337.18(-0.34%)
S&P500: 1005.89 (-0.46%)
NASDAQ:1992.24(-0.40%)

Top Analyst Calls:

LogMeIn Inc. (NASDAQ: LOGM) saw its quiet period end after its July 1 IPO date. Most analysts gave it a positive outlook and favorable rating, yet shares were down over 6% at $16.80 very late in the trading session.

AMR Corp. (NYSE: AMR) was weak all day. The parent of American Airlines may have more regulatory reviews as it and British Air will have to face a review over the Oneworld Alliance in antitrust matters at a joint hearing next month. Shares were down 4% at $5.71 in the final minutes of the day.

Analyst upgrades:

• Citigroup upgraded National Fuel (NYSE: NFG) to Hold from Sell to reflect better than expected drilling results for the company's Marcellus shale assets. Citi raised its target on shares to $43 from $42.
• Baird upgraded Netezza (NYSE: NZ) to Outperform from Neutral and raised its target to $14 from $7 based on the company's new product announcement and potential revenue acceleration.
• JPMorgan upgraded Liberty Interactive (NASDAQ: LINTA) to Overweight from Neutral. The firm finds the valuation attractive following Liberty's better than expected Q2 results and set a $13 price target on the stock.
• Marlin Business (NASDAQ: MRLN) was upgraded to Outperform from Market Perform at William Blair.
• Paychex (NASDAQ: PAYX) was upgraded to Sell from Conviction Sell at Goldman.
• Hewitt Associates (NYSE: HEW) was upgraded to Buy from Neutral at UBS.

It's been a long road for LogMeIn, which develops web-based business software. The company filed for an IPO back in January 2008. Of course, since then the financial system went haywire.

But, things are getting back on track. For example, this week LogMeIn actually set the initial terms for its public offering: a price range of $14-$16 for 6.67 million shares.