Analyst upgrades:

• Thomas Weisel upgraded PerkinElmer (NYSE: PKI) to Overweight from Market Weight on valuation as it sees limited downside to consensus estimates. The firm raised its target on shares to $20 from $18.
• Jefferies upgraded WuXi PharmaTech (NYSE: WX) to Hold from Underperform following the Q2 results as it believes the company's cross-selling strategy is paying off. The firm raised its target on shares to $12 from $5.
• FBR Capital upgraded J. Crew (NYSE: JCG) to Outperform from Market Perform to reflect the company's trend-right product, inventory control, unit growth, and strong management. The firm raised its target on shares to $36 from $25.
• Popular (NASDAQ: BPOP) was upgraded to Buy from Neutral at B. Riley.
• Pan American Silver (NASDAQ: PAAS) was upgraded to Buy from Neutral at UBS.
• HearUSA (AMEX: EAR) was upgraded to Buy from Hold at Roth Capital.

After testifying before a Senate committee about AIG (NYSE: AIG) last week, the Fed's Ben Bernanke participates in a Council of Foreign Relations event Monday evening.

Economic data due to be released this week include wholesale trade and job vacancies for January on Tuesday morning, the U.S. Treasury budget for February on Wednesday, retail sales for February and business inventories for January on Thursday morning, and the U.S. trade balance for January on Friday morning.

Analyst upgrades:

• Jefferies upgraded MSC Industrial (NYSE:MSM) to Buy from Hold after meeting with management as they believe shares are attractive at current levels. The firm raised their target price to $44 from $32.
  
• UBS upgraded DuPont Fabros (NYSE:DFT) to Buy from Neutral and raised their target to $7 from $2. The firm believes DuPont Fabros will receive a waiver on its CH1 Construction loan for at least a year.
  
• Royal Bank of Scotland upgraded Credit Suisse (NYSE:CS) to Buy from Hold to reflect the company's derisking of its trading book.
• Smith & Nephew (NYSE:SNN) was upgraded to Buy from Neutral at Goldman and added to the Conviction Buy List; Cigna (NYSE:CI) was also added to the Conviction Buy List.
  
• Affymetrix (NASDAQ:AFFX) was raised to Equal Weight from Underweight at Morgan Stanley.
  
• Airtran Holdings (NYSE:AAI) was upgraded to Buy from Hold at Jesup & Lamont.

MOST NOTEWORTHY: American Public Education and Micrus Endovascular were today's noteworthy initiations:

• William Blair initiated American Public Education (NASDAQ: APEI) with an Outperform rating, as they believe the company is still in the early stages of its growth.
  
• Gabelli believes Micrus Endovascular (NASDAQ: MEND) can sustain its rapid growth in the coming years and does not expect it to remain independent in the medium-to-long term. The firm started shares with a Buy rating.

OTHER INITIATIONS:

• Carrizo Oil & Gas (NASDAQ: CRZO) was initiated with a Neutral rating at JP Morgan.
  
• Goldman initiated Akamai (NASDAQ: AKAM) with a Neutral rating.