Analyst Upgrades

• Google (GOOG) to outperform from neutral at Wedbush.
• Nike (NKE) to buy from neutral at UBS.
• Apollo Group (APOL) to market perform from underperform at FBR Capital.
• JDSU (JDSU) to overweight from neutral at Piper Jaffray.
• NetApp (NTAP) to overweight from equal weight and Verigy (VRGY) to equal weight from underweight at Barclays.
• RSC Holdings (RRR) to outperform from neutral at RW Baird.
• Exelon (EXC) to buy from hold at Jefferies.
• Aon (AON) and Willis Group (WSH) to outperform from market perform at Keefe Bruyette.
• BMC Software (BMC) to outperform from neutral at Cowen.

Analyst Upgrades

• Research In Motion (RIMM) to buy from hold at Jefferies.
• Citigroup (C) to buy from hold at ISI Group.
• Integrated Silicon (ISSI) to buy from hold at Auriga.
• Kinross Gold (KGC) to outperform from neutral at Credit Suisse.

Analyst Upgrades

• Qualcomm (QCOM) was upgraded to outperform from neutral at Credit Suisse.
• JPMorgan upgraded Allegheny Tech (ATI) to overweight from neutral.
• NetApp (NTAP) was upgraded to buy from hold at Canaccord.
• Estee Lauder (EL) was upgraded to perform from underperform at Oppenheimer.
• Citigroup upgraded Suntech (STP) to hold from sell.

Research in Motion (RIMM - option chain) shares are rising today after the company's Co-CEO Jim Balsillie told Bloomberg that the company will begin rolling out its tablet computer, the Playbook, in the US during the first quarter of 2011. RIMM will launch the device globally during the second quarter. He also told Bloomberg, "There's a lot of demand and we are seeing a lot of interest from international retailers." Balsillie added that the company has not been losing corporate smartphone customers to its rivals Apple (AAPL) and Google (GOOG), noting that RIMM's smartphone software platform should surpass AAPL's in the third quarter of 2011. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on RIMM.

RIMM opened this morning at $55.30. So far today the stock has hit a low of $55.27 and a high of $57.87. As of 12:15, RIMM is trading at $57.78 up $2.78 (5.0%). The chart for RIMM looks bullish and S&P gives RIMM a positive 4 STARS (out of 5) buy ranking.

Analyst Upgrades

• Goldman upgraded Reliance Steel (RS) to buy from neutral and The Buckle (BKE) to neutral from sell.
• RAM Energy (RAME) was upgraded to outperform from market perform at Rodman & Renshaw.
• RBC Capital upgraded H&E Equipment (HEES) and Cameco (CCJ) to outperform from sector perform, and Denison Mines (DNN) to sector perform from underperform.
• Alexandria Real Estate (ARE) was upgraded to overweight from neutral at JPMorgan.
• Investment Technology (ITG) was upgraded to outperform from neutral at Wedbush.

Analyst Upgrades

• Goldman upgraded BP (BP) to buy from neutral.
• STEC (STEC) was upgraded to buy from hold at Needham.
• MCG Capital (MCGC) was upgraded to buy from hold at BB&T.
• Corporate Office (OFC) was upgraded to market perform from underperform at FBR Capital.
• Citigroup upgraded K-Sea Transportation (KSP) and Post Properties (PPS) to hold from sell.
• BofA/Merrill upgraded Embraer (ERJ) to buy from underperform.
• Wilmington Trust (WL) was upgraded to neutral from underperform at Macquarie.
• Parkway Properties (PKY) was upgraded to hold from sell at Stifel Nicolaus.

Analyst Upgrades

• Barclays upgraded Western Digital (WDC) to overweight from equal weight.
• LDK Solar (LDK) was upgraded to buy from hold at Needham.
• Legg Mason (LM) was upgraded to outperform from neutral at Macquarie.
• Agilent (A) was upgraded to buy from hold at Stifel Nicolaus.
• Wells Fargo upgraded Dean Foods (DF) to outperform from market perform and Developers Diversified (DDR) to market perform from underperform.
• Deutsche Bank also upgraded Developers Diversified, to buy from hold.
• Northrop Grumman (NOC) was upgraded to sell from conviction sell at Goldman.
• MYR Group (MYRG) was upgraded to buy from hold at BB&T.

Research In Motion (RIMM) closed up 5.9% to $54.76. Total call option volume of 219,000 contracts (107,000 puts). November call option implied volatility is at 43, December is at 47, and January is at 45, versus its 26-week average of 43, according to Track Data.

IBM (IBM) closed up 0.60% to $140.67 on the board of directors authorizing $10 billion in additional funds for use in the company's stock repurchase program. Total call option volume of 32,000 contracts (19,000 puts). November call option implied volatility is at 17, December is at 19, January is at 21, versus its 26-week average of 22, according to Track Data. Large call volume suggests traders positioning for upside price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst Upgrades

• RBC Capital upgraded Syniverse (SVR) to outperform from sector perform based on strong secular growth in mobile data and roaming. The firm raised its price target to $28 from $23.
• Deutsche Bank upgraded PG&E (PCG) to buy from hold with a $49 price target due to valuation.
• Jefferies assumed coverage on Sierra Wireless (SWIR) with a buy from a hold and raised its price target to $12 from $9. The analyst expects the M2M market to experience 25% growth over the next two years.
• Affiliated Managers (AMG) was upgraded to buy from neutral at Goldman.
• EastGroup Properties (EGP) was upgraded to buy from neutral at UBS.
• Gammon Gold (GRS) was upgraded to neutral from underperform at Credit Suisse.

After the closing bell sounded Monday, Canadian tech firm Research In Motion Ltd. (RIMM) released the BlackBerry PlayBook, its answer to Apple's (AAPL) iPad. The tablet has a 7-inch LCD screen, a front-facing video camera, and a 1Ghz dual-core processor. The PlayBook will also support Adobe's Flash.

The PlayBook wasn't a real surprise, as The Wall Street Journal hinted a week ago that RIM would introduce a tablet. While the company didn't release the price, Silicon Alley Insider posits that BlackBerry will assign a price tag in the $400 to $500 range. Why not introduce the price now? Silicon Alley Insider suggests that this was a smart move by RIM, as it could be as many as six months before the PlayBook will ship, which means there may be more competition from other companies, along with the potential for a new iPad from Apple. Waiting allows RIM to gauge the prices from the other companies and price its offering a bit more competitively.

In the smartphone business, it's hard not to get interest from customers. Hey, even Sprint (T) has seen lots of uptake for its next-generation phones. And Nokia's (NOK) upcoming N8 has received the most preorders in its history.

Yet Research In Motion (RIMM) can't seem to get traction. Consider that its Torch was a dud.

True, RIM still has a massive installed base, especially in the valuable corporate market. And the latest quarterly report was reassuring. But the fact remains that RIM's shareholders need a catalyst.

Under Armour, Inc. (UA) closed up $1.06 to $45.23. UA October put option implied volatility is at 48, January is at 52. This is above its 26-week average of 44, according to Track Data, suggesting larger price movement.

Research In Motion Limited (RIMM) October 45 call volatility decreased 4%.

Chelsea Therapeutics International Ltd. (CHTP) October 7.50 call volatility decreased 57%.

Research In Motion (RIMM) closed up almost 1% on Friday, after the company reported better-than-expected Q2 earnings and provided Q3 guidance well above expectations. October put option implied volatility is at 45, below a level of 58 from September 16, according to Track Data, suggesting decreasing price movement and less risk.

Oracle (ORCL) closed up almost 8% on Friday, after the company reported better-than-expected Q2 earnings and provided Q3 guidance well above expectations. October put option implied volatility is at 25, below a level of 31 from September 15, according to Track Data, suggesting decreasing price movement and less risk.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst Upgrades

• Citigroup upgraded OpenTable (OPEN) to buy from hold, citing stronger than expected near-term trends and traction for the company's Spotlight offering. Citi upped its price target for shares to $70 from $46.
• Wells Fargo upgraded Werner (WERN) to outperform from market perform, citing valuation, the company's reduction in cost, and its above peer exposure to the pricing cycle.
• Goldman upgraded CarMax (KMX) to neutral from sell based on valuation and higher used car profitability. The firm has a $24 target on the stock.
• Apollo Group (APOL) was upgraded to overweight from equal weight at Morgan Stanley.
• Nokia (NOK) was upgraded to overweight from equal weight at Barclays.
• Zions Bancorp (ZION) was upgraded to outperform from market perform at Bernstein.

Last week, the Fed's Beige Book report confirmed that the economy continues to grow, but at a slower pace than in previous periods. This week will bring plenty of economic data to either support or contrast with the Fed's findings.

• Monday: Federal government budget balance for August
• Tuesday: Business inventory numbers from July, TIPP Economic Optimism Index for September, retail sales data from August
• Wednesday: Industrial production in August, Empire State Manufacturing Survey for September, Import Price Index for August
• Thursday: Producer Price Index for August, Philly Fed Survey for September, the Current Account Balance in the second quarter, jobless claims for last week
• Friday: preliminary University of Michigan Consumer Sentiment Index, Consumer Price Index for August, real earnings data for August