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MOST NOTEWORTHY: The small-cap bank sector, Waste Connections, Warnaco Group and Intersections were today's noteworthy upgrades:
- Lehman upgraded the small-cap bank sector to Neutral from Negative as they expect the group to benefit from the decline in short-term interest rates and the steeping yield curve. The firm upgraded Associated Banc-Corp (NASDAQ: ASBC), Pacific Capital Bancorp (NASDAQ: PCBC) and Westpac Banking Corp (NYSE: WBK) to Equal Weight from Underweight.
- Friedman Billings added Waste Connections (NYSE: WCN) to its Top Picks list. The firm believes the company can outperform the group and overall market in an economic downturn.
- Warnaco Group (NASDAQ: WRNC) was upgraded to Overweight from Neutral at JP Morgan on valuation and growth potential.
- JMP Securities' checks indicate that Intersections (NASDAQ: INTX) is on track to meet EPS expectations for the quarter and is well positioned to beat their 2008 EPS estimate of 80c. The firm raised shares to Strong Buy from Outperform.
OTHER UPGRADES:
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Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
