Analyst Upgrades

• Intel (INTC) was upgraded to buy from neutral at UBS.
• Wells Fargo upgraded MetroPCS (PCS), Coventry Health (CVH) and Scientific Games (SGMS) to outperform from market perform.
• Estee Lauder (EL) was upgraded to overweight from equal weight at Barclays.
• Simon Property (SPG) was upgraded to buy from hold at Jefferies.
• Citigroup upgraded BreitBurn Energy (BBEP) to buy from hold.

Friday was one of those days that we finally got jobs creation of more than double the expected rate, with 151,000 jobs reported. Unfortunately, that was somewhat expected and the jobs data was before the election, before QE2, and before administration negotiation hopes on taxes. Banks tried to continue their surge along with technology, which needs to happen for the rally to continue.

Here were today's unofficial closing bell levels:

Dow Jones 11,444.08 +9.24 (0.08%)
S&P 500 1,225.85 +4.79 (0.39%)
Nasdaq 2,578.98 +1.64 (0.06%)

Top Analyst Calls
Next Week's Top Earnings

9.5% unemployment and a loss of another 131,000 jobs in the economy didn't do it for the bulls this Friday. Another loss of monthly consumer credit in June only echoed the weak July same-store sales data, although the drop in consumer credit was -$1.3 billion rather than a drop of over $5 billion expected. Goldman Sachs also lowered economic growth targets ahead. Still a late-day round of share buying and likely short-covering brought on some interest from investors after the DJIA had traded lower by triple-digits earlier in the trading day.

Here were the unofficial closing bell levels:

Dow Jones 10,653.64 -21.34 (-0.20%)
S&P 500 1,121.62 -4.19 (-0.37%)
Nasdaq 2,288.43 -4.63 (-0.20%)

Top Analyst Calls

Today was one of those down days that was hardly a down day. It is a loss that might as well be a wash or gain because the losses were so small. The weekly jobless claims data did no favors for those hoping for a solid jobs number Friday morning. Retail sales were another source of caution considering that the comparisons from last July should have been very easy.

Here were today's closing bell levels:

Dow Jones 10,674.98 -5.45 (-0.05%)
S&P 500 1,125.81 -1.43 (-0.13%)
Nasdaq 2,293.06 -10.51 (-0.46%)

Despite another negative housing market reading and despite a Moody's downgrade of Ireland, U.S. stocks managed to hold on to the gains after a poor 261 point loss on Friday. Today's gains were a welcome sign considering that the huge drop on Friday could have set a reversal of fortune after so many days of gains.

Here were today's unofficial closing bell levels:

Dow 10,154.43 +56.53 (0.56%)
S&P 500 1,071.25 +6.37 (0.60%)
Nasdaq 2,198.23 +19.18 (0.88%)

Top Stock Analyst Calls

Analyst Upgrades

• Citigroup upgraded FMC Technologies (FTI) to buy from hold, citing pent-up deepwater drilling demand and valuation. Despite upgrading, the firm lowered its target for shares to $69 from $77.
• Piper Jaffray upgraded Valeant (VRX) to overweight from neutral following the company's merger with Biovail (BVF) and raised its target for shares to $53 from $43.
• Deutsche Bank upgraded Lincare Holdings (LNCR) to buy from hold, citing valuation and the company's dividend initiation. The firm upped its target for shares to $37 from $35.
• Ariba (ARBA) was upgraded to overweight from neutral at JPMorgan.
• Crucell (CRXL) was upgraded to buy from hold at RBS.
• ENI SpA (E) was upgraded to buy from neutral at Goldman.

Analyst Upgrades

• Soleil upgraded Starwood Hotels (HOT) to buy from hold, citing accelerating RevPAR comps and valuation. The firm upped its target for shares to $57 from $55.
• TD Newcrest upgraded Ivanhoe Mines (IVN) to speculative buy from hold based on valuation.
• BMO Capital upgraded Power Integrations (POWI) and ON Semiconductor (ONNN) to outperform from market perform based on valuation. The firm has a $45 target on Power Integrations and a $9 target on ON Semiconductor.
• Priceline.com (PCLN) was upgraded to buy from neutral at Goldman.
• Reliance Steel (RS) was upgraded to buy from neutral at UBS.
• AXA (AXA) was upgraded to add from neutral at WestLB.
  

Implied volatility increases on May 26: Amgen (AMGN), Sandridge Energy (SD) and Sirius Satellite (SIRI) according to IVolatility.

Cameron (CAM) provided blowout preventer for the Gulf of Mexico rig that caused the oil spill. Crude oil futures are recently up 2.28% to $73.14 according to Bloomberg. CAM June put option implied volatility is at 74, August and November is at 64; above its 26-week average of 45 according to Track Data, suggesting larger price movement.

Update is by Stock Specialist Paul Foster of theflyonthewall.com

SandRidge Energy (SD - option chain) stock is trading lower today after the company announced that it will acquire Arena Resources (ARD) in a $6.2 billion deal. ARD shareholders will receive 4.7771 shares of SD and $2.50 in cash for each share of ARD held. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SD.

This morning, SD opened at $7.48. So far today the stock has hit a high of $7.63 and a low of $7.25. As of 11:40, SD is trading at $7.46, down $0.39 (-5.0%). The chart for SD looks bearish.

Analyst upgrades:

• Jefferies upgraded HMS Holdings (NASDAQ: HMSY) to Buy from Hold on valuation as they believe the recent weakness provides an attractive entry point. The firm keeps a $36 price target on shares.
  
• Credit Suisse believes Universal Health (NYSE: UHS) is well positioned to gain market share, that earnings risk from the Las Vegas market is manageable, and that the balance sheet provides flexibility. The firm upgraded shares to Outperform from Neutral and raised their target to $48 from $46.
  
• UBS upgraded RF Micro (NASDAQ: RFMD) to Buy from Neutral citing checks that indicate strengthening momentum, impact from recent restructuring, and expected debt reduction. The analyst raised RFMD estimates above consensus and upped the price target to $3 from $1.10.
• Liberty Capital (NASDAQ: LCAPA) was upgraded to Buy from Hold at Deutsche Bank.
  
• Tesoro (NYSE: TSO) was raised to Hold from Sell at Soleil.
  
• SunTrust (NYSE: STI) was lifted at Keefe Bruyette to Outperform from Market Perform.

Stocks were up today, but less than you might imagine after a large drop of more than $4.00 on oil in late-day prices. So much for Goldman Sachs' raising oil target again today, as well as lifting the oil services sector and upping price targets for some of the sector's stocks .

Here are today's unofficial closing bell index levels:

• DJIA 12062.93 (+33.87)
• S&P500 1342.86 (+5.05)
• NASDAQ 2462.07 (+32.36)
• 10YR T-NOTE 4.199% (+0.045%)
• 52-Week Lows
• Top 10 Analyst Calls

Evergreen Solar Inc. (NASDAQ: ESLR) was one of the huge winners today with shares up over 20% at $12.33 in today's final minutes. The company announced a huge second round contract that added significantly to its backlog.

Huntsman Corporation (NYSE: HUN) imploded after its private equity buyout was officially notified as "being killed" by the buyers, and shares were down 38% at $12.79 at the end of the day. Mark that as an all-time low.

"The boom in natural gas prices has been good for North American producers and their investors, both of which continue to be upbeat on the sector as share prices also keep rising," says Bill Martin.

In his exceptional BullMarket.com, he looks at SandRidge Energy (NYSE: SD), where its billionaire CEO as well as a director have continued to buy shares, despite the stock trading near "peak levels."

"Oklahoma City-based SandRidge focuses on the exploration, development, and production of oil and gas in the West Texas Overthrust, East Texas, and Mid-Continent (Oklahoma) regions.

"President, and CEO Tom Ward purchased 460,000 shares at $48.95 on May 19th/20th, which increased his already substantial holdings to nearly 36.95 million shares, or a 25.27% stake.

"It was the first purchase for Ward since he announced in March his attention to buy up to $100 million in stock on the open market this year. His only other open-market purchase came in November 2007, when he took down 4.17 million shares at $26.00 in the company's initial public offering.

MOST NOTEWORTHY: BioForm Medical, Hexcel and Genesis Energy were today's noteworthy initiations:

• Jefferies initiated BioForm Medical (NYSE: BFRM) with a Buy rating and $12 target and believes the risk/reward is positive given the company's differentiated technology and the strong growth dynamics of the dermal filler market. They also think the possibility of a takeout provides a valuation floor in the stock.
  
• UBS believes Hexcel Corp. (NYSE: HXL) will grow faster than other aerospace suppliers given the production ramp in composite rich aircraft. The firm assumed coverage with a Buy rating and $30 target.
  
• Wachovia expects Genesis Energy (AMEX: GEL) to benefit from recently announced acquisitions, strong tertiary oil recovery activity by Denbury Resources (NYSE: DNR) in Mississippi, and growing industrial gas segment, starting shares with an Outperform rating..

OTHER INITIATIONS:

• Banc of America initiated Dollar Tree Stores (NASDAQ: DLTR) with a Neutral rating and $30 target.
  
• JP Morgan initiated First Horizon National Corp. (NYSE: FHN) with an Overweight rating.
  
• Sandridge Energy (NYSE: SD) was started with an Overweight rating at Lehman, a Neutral rating at Goldman and a Peer Perform rating at Bear.