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MOST NOTEWORTHY: The semiconductor sector, Quest Diagnostics
(NYSE: DGX) and
Federal National Mortgage Association (NYSE:
FNM) were today's noteworthy upgrades:
- Bernstein upgraded the semiconductor sector to Overweight form Market Weight on expectations that utilization will rise starting in Q2. The firm upgraded ASML Holding NV (NASDAQ: ASML) to Outperform from Market Perform and Infineon Technologies (NYSE: IFX) to Market Perform from Underperform.
- UBS upgraded Quest Diagnostics to Buy from Neutral, citing Laboratory Corporation Of America Holdings' (NYSE: LH) contract renewal with Cigna HealthCare, which should ease concerns regarding deteriorating pricing.
- Fannie Mae was upgraded to Outperform from Market Perform at Friedman Billings, citing improving fundamentals, better business mix and the possibility the company reports current financials in the next 12-18 months.
OTHER UPGRADES:
Advanced Micro Devices rallies after settling Intel tiff
United Technologies fires up a deal with GE
Cramer on BloggingStocks: Not much time left for downside 
