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MOST NOTEWORTHY: Steel Dynamics, Nucor, Nokia and Wachovia were today's noteworthy upgrades:- UBS upgraded Steel Dynamics (NASDAQ: STLD) and Nucor (NYSE: NUE) to Buy from Neutral and added them to their Short-Term Buy list citing oversold valuations and the belief that both will beat Q2 Street estimates and guide higher.
- Dresdner Kleinwort upgraded shares of Nokia (NYSE: NOK) to Buy from Add as they believe the company's second half of the year looks strong due to new product launches.
- Merrill Lynch upgraded Wachovia (NYSE: WB) to Neutral from Underperform on valuation as they believe credit headwinds are priced into the stock at current levels. Merrill also thinks WB would make a "good fit" for JP Morgan (JPM) and puts a realistic acquisition value on the company of $16-$20 per share.
- Verisign (NASDAQ: VRSN) was upgraded at Baird to Outperform from Neutral.
- Lehman upgraded Penn Virginia (NYSE: PVG) to Overweight from Equal Weight.
- Piper raised SGX Pharmaceuticals (NASDAQ: SGXP) to Neutral from Sell.
Before the bell: Stocks futures steady ahead of GDP, housing data
Google's plan for netbook PCs moves higher into the clouds
So long peak oil, here comes peak uranium
