Analyst upgrades:

• Keefe Bruyette upgraded Intercontinental Exchange (NYSE: ICE) to Market Perform from Underperform following the company's in-line quarter and extended buyback. The firm raised its target price on shares to $103 from $98.
• Merriman upgraded Cree (NASDAQ: CREE) to Buy from Neutral after transitioning coverage of the stock as it believes HB-LED chips are gaining momentum and that the company can top its recently raised guidance.
• Deutsche Bank upgraded Glatfelter (NYSE: GLT) to Buy from Hold following the company's Q2 results due to falling net debt levels and valuation. The firm raised its target on shares to $14 from $8.
• Corporate Executive Board (NASDAQ: EXBD) was upgraded to Neutral from Underperform at Baird.
• Cognizant (NASDAQ: CTSH) was upgraded to Buy from Neutral at Goldman.
• Unit Corp. (NYSE: UNT) was upgraded to Buy from Sell at Jesup & Lamont.

Analyst upgrades:

• Goldman upgraded Nokia (NYSE: NOK) to Neutral from Sell on valuation and believes the company's guidance is realistic.
  
• SMH Capital upgraded GMX Resources (NASDAQ: GMXR) to Accumulate from Neutral and is positive on the company's capex reduction.
  
• Wachovia raised Nationwide Health Services (NYSE: NHP) to Outperform from Market Perform to reflect the company's diversified portfolio and "solid" capital position.
• Portugal Telecom (NYSE: PT) was upgraded to Equal Weight from Underweight at Morgan Stanley.
  
• Omnicare (NYSE: OCR) was upgraded to Buy from Hold at Soleil.
  
• SKF AB (OTC: SKFRY) was upgraded at JP Morgan to Neutral from Underweight.

Analyst downgrades:

MOST NOTEWORTHY: National Financial Partners, Blackbaud and Trans World were today's noteworthy upgrades:

• Citigroup upgraded shares of National Financial Partners (NYSE:NFP) to Buy from Hold on valuation, as they believe the recent weakness is overdone. Citigroup also added the stock to their Top Picks Live list.
  
• Jefferies upgraded shares of Blackbaud (NASDAQ:BLKB) to Hold from Underperform on valuation, as they believe management did the right thing by lowering guidance while buying back stock more aggressively.
  
• B. Riley lifted Trans World (NASDAQ:TWMC) to Buy from Neutral as they believe the company could ultimately go private should credit conditions improve

OTHER UPGRADES:

• Keefe Bruyette raised Anworth Mortgage (NYSE:ANH) to Outperform from Market Perform.
  
• Unit Corp (NYSE:UNT) was upgraded at Raymond James to Outperform from Market Perform.
  
• RBC Capital upgraded Brandywine Realty Trust (NYSE:BDN) to Sector Perform from Underperform.

Oklahoma celebrates its centennial in November -- Happy Birthday, Oklahoma!

Today, Oklahoma is known as one of the most business-friendly states, due in part to low tax rates. Oklahoma's economy is based largely on the energy, aviation, and food processing sectors. From 2000 to 2006, Oklahoma's gross domestic product increased 50 percent. The GDP per capita grew almost 10 percent between 2005 and 2006, one of the highest rates in the nation.

Fortune magazine's 2007 list of the fastest growing companies in the U.S. included six from Oklahoma. At number three on the list was Tulsa-based Arena Resources Inc. (NYSE: ARD), a seven-year old oil and gas firm with a three-year annual growth rate of 165 percent. Back in August, Arena announced strong second quarter 2007 financial and operating results. Arena is also a major holding in the Bruce Fund, which recently made the 2007 Forbes Honor Roll.

Tulsa-based oil and gas driller Helmerich & Payne Inc. (NYSE: HP) had a three-year annual growth rate of 37 percent, which beat the S&P 500. In August, H&P announced strong second quarter 2007 results, as well as two new contracts. The Motley Fool sees expansion in other sectors as good news for drillers such as H&P.