MOST NOTEWORTHY: IberiaBank, Dynamic Materials and Barr Pharmaceuticals were today's noteworthy upgrades:

• Keefe Bruyette upgraded shares of IberiaBank (NASDAQ: IBKC) to Market Perform from Underperform after the company announced that Pulaski has assumed the insured deposits of ANB Financial of Bentonville, Arkansas.
  
• KeyBanc upgraded Dynamic Materials (NASDAQ: BOOM) to Buy from Hold citing stability in base business, valuation, and the added benefit associated with a European competitor being acquired.
  
• Cowen raised Barr Pharma (NYSE: BRL) to Outperform from Neutral citing the recent pullback.

OTHER UPGRADES:

• Goldman added McGraw-Hill (NASDAQ: MHP) to its Conviction Buy List.
  
• RBC Capital raised RadioShack (NYSE: RSH) to Sector Perform from Underperform.
  
• Sirius Satellite (NASDAQ: SIRI) was upgraded at Merrill Lynch to Neutral from Sell.

MOST NOTEWORTHY: Dynamic Materials, Allergan and Sun Micro were among today's noteworthy downgrades:

• Dynamic Materials (NASDAQ: BOOM) was downgraded to Neutral from Overweight at J.P. Morgan following the Q1 report based on margin risk from steel costs and availability.
  
• Allergan (NYSE: AGN) was downgraded to Hold from Buy at Jefferies ahead of the Q1 report on May 7 based on potential deceleration in Botox and breast implants, which could result in multiple contractions.
• Sun Microsystems (NASDAQ: JAVA) was downgraded to Peer Perform from Outperform at Bear, citing the disappointing earnings report for the downgrade.

OTHER DOWNGRADES:

• ManTech (NASDAQ: MANT) was downgraded to Neutral from Outperform at Cowen based on valuation and expectations for decelerating growth in 2H08.
  
• Silver State Bancorp (NASDAQ: SSBX) was downgraded to Sell from Hold at Sandler O'Neil.

Where can you find the "Wall Street of the West?" In Colorado, of course -- specifically, Denver's 17th Street financial district.

Colorado's economy has come a long way from its foundation on trapping and mining. Denver's location, equidistant between Los Angeles and Chicago, between Seattle and New Orleans, has helped the Centennial State become the economic center of Rocky Mountain states -- even Denver's time zone and elevation help it keep in touch with the rest of the world. It's no wonder there's a large federal government presence in the state (U.S. Air Force Academy, NORAD, NOAA, Denver Mint, U.S. Geological Survey).

Companies such as Lockheed-Martin (NYSE: LMT), Qwest Communications (NYSE: Q), Comcast (NASDAQ: CMCSA), Molson Coors (NYSE: TAP), and Crocs (NASDAQ: CROX) offer a sense of the diversity of the state's economy. And so do the three companies examined here: Vail Resorts Inc. (NYSE: MTN), Dynamic Materials Corp. (NASDAQ: BOOM), and Newmont Mining Corp. (NYSE: NEM).

MOST NOTEWORTHY: Jones Lang LaSalle, Digital River, Dynamic Materials, Allot Communications and Oxford Industries were today's noteworthy downgrades:

• Wachovia downgraded shares of Jones Lang LaSalle (NYSE: JLL) to Market Perform from Outperform, as they expect the deterioration in the credit markets to lead to fewer closed deals over the next year.
  
• Oppenheimer transitioned coverage of Digital River (NASDAQ: DRIV) and downgraded shares to Neutral from Buy. The broker finds shares fairly valued given the pricing pressure and customer concentration.
  
• Jefferies downgraded shares of Dynamic Materials Corporation (NASDAQ: BOOM) to Hold from Buy on valuation as they believe shares are already pricing in the company's near-term earnings potential.
  
• Allot Communications (NASDAQ: ALLT) was downgraded to Sector Performer from Outperformer at CIBC World Markets after the company pre-announced weaker-than-expected Q3 results.
  
• Oxford Industries (NYSE: OXM) was downgraded to Hold from Buy at Morgan Joseph and to Neutral from Buy at SunTrust following the disappointing Q1 report and guidance.

OTHER DOWNGRADES:

• Piper Jaffray downgraded Target Corporation (NYSE: TGT) to Market Perform from Outperform.
  
• Thornburg Mortgage (NYSE: TMA) was downgraded to Underperform from Market Perform at Keefe Bruyette.
  
• JP Morgan removed Continental Airlines (NYSE: CAL) from its Focus List.
  
• NRG Energy (NYSE: NRG) was downgraded to Neutral from Buy at Calyon.