Analyst Upgrades

• Tyson Foods (TSN) to buy from hold at Deutsche Bank.
• Carmike Cinemas (CKEC) to buy from neutral at Merriman.
• Ambow Education (AMBO) to conviction buy from neutral at Goldman.
• Johnson Controls (JCI) to overweight from equal weight at Barclays.
• Dynex Capital (DX) to outperform from market perform at JMP Securities.
• Ensco (ESV) to outperform from neutral at Credit Suisse.
• York Water (YORW) to buy from hold at Brean Murray.
• Mid-America Apartment (MAA) to market perform from underperform at FBR Capital.
• Cheniere Energy Partners (CQP) to hold from sell at Citigroup.
• Forest Oil (FST) to positive from neutral at Susquehanna.
• Tractor Supply (TSCO) to outperform from neutral at RW Baird.

Today was a mixed market with many movers around in both directions despite the closing bells on the indexes. The non-Farm Payrolls growth was only right before the ADP data and that more robust prediction artificially skewed expectations. The stock market was down less than 1% after the morning lows before recovering off lows in the afternoon. Crude oil sold off and gold was lower before trying a late-day comeback.

Here were the unofficial closing bell levels:

Dow Jones 11,674.76 -22.55 (-0.19%)
S&P 500 1,271.50 -2.35 (-0.18%)
Nasdaq 2,703.17 -6.72 (-0.25%)

Top Analyst Upgrades/Downgrades

• Jefferies upgraded Abiomed (NASDAQ: ABMD) to Hold from Underperform on valuation as it believes concerns over the company's Impella heart pump are priced in at current levels. The firm lowered its target price to $7 from $8.
  
• Suntrust upgraded Somanetics (NASDAQ: SMTS) to Neutral from Reduce. The firm believes most of the risk is out of Somanetics shares and that the Q1 report could be a positive catalyst.
  
• Banc of America/Merrill upgraded shares of Telecom Italia (NYSE: TI) to Buy from Neutral on valuation and believes the company's revenue trends are improving.
• China Petroleum & Chemical (NYSE: SNP) was raised to Buy from Neutral at UBS.
• Hexcel (NYSE: HXL) and Johnson Controls (NYSE: JCI) were upgraded to Buy from Neutral at Goldman.

MOST NOTEWORTHY:

• Apple Inc (NASDAQ: AAPL) was upgraded to Buy from Hold with a $160 target at Citigroup following yesterday's pullback; they believe Mac should remain strong through year-end, Q3 consensus estimates look conservative and believe production cuts should not be a surprise.

• Roth Capital upgraded shares of Ariba (NASDAQ: ARBA) to Buy from Hold as they believe shares work higher over then next few quarters; they expect seasonally strong September and December quarters and believe that revenue bottomed last year.

• Goldman added EMC Corp (NYSE: EMC) to its Conviction Buy List, citing Q2 results and multiple product cycles.

• Anadarko Petroleum (NYSE: APC) was raised to Market Perform from Underperform at BMO Capital following better than expected Q2 results and guidance.

• RealNetworks (NASDAQ: RNWK) was upgraded to Hold from Sell at Soleil on valuation after reporting solid Q2 earnings...

• PetSmart (NASDAQ: PETM) was upgraded to Outperform from Neutral at Credit Suisse.

• BWS Financial raised Xoma (NASDAQ: XOMA) to Buy from Hold.

• Matrix upgraded McGraw-Hill Cos (NYSE: MHP) to Buy from Hold.

• Matrix also raised Raytheon (NYSE: RTN) to Strong Buy from Buy.

• Wachovia upgraded St. Joe Co (NYSE: JOE) to Market Perform from Underperform.

MOST NOTEWORTHY:

• Calyon Securities initiated coverage on the following stocks, all with Neutral ratings, including Burlington Northern Santa Fe Corp (NYSE: BNI), Canadian National Railway Co (NYSE: CNI), Canadian Pacific Ltd (NYSE: CP), CSX Corp (NYSE: CSX), Norfolk Southern Corp (NYSE: NSC).and Union Pacific Corp (NYSE: UNP).

• Obagi Medical (NASDAQ: OMPI) was initiated by Baird with an Outperform rating and $13 target; CIBC started the specialty pharmaceutical company with a Sector Outperformer rating and $14 target, saying the company is a pure play in the rapidly-growing aesthetics market and has expectations that the company's growth will accelerate due to the rise in physician-dispensed products.

• MasterCard Inc (NYSE: MA) was initiated with a Neutral rating at Merrill Lynch.

• Xoma Ltd (NASDAQ: XOMA) was initiated with a Market Outperform rating at Rodman & Renshaw. The firm said XOMA's antibody technology licenses and manufacturing provide an important source of consistent and growing commercial revenues. Additionally, the broker said Raptiva is becoming a more meaningful contributor.