A Mixed Start to the Day

We are an hour and a half into the session and find the market off to a mixed start. The S&P 500 (SPX) and Dow Jones Industrial Average (DJIA) are posting mild losses while the Nasdaq Composite (COMP) and Russell 2000 (RUT) are holding slightly above breakeven. The sector action is a bit livelier.

The Amex Networking Index (NWX), CBOE Internet Index (INX), SPDR Homebuilders (XHB), Regional Bank HOLDRS (RKH), and Broker/Dealer Index (XBD) are all gaining more than 1% while commodity corner and the AMEX Pharmaceutical Index (DRG) are down that amount.

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Here are a few of the analyst upgrades and downgrades that I thought were worth noting this morning...

Upgrades
• Activision (ATVI) [multiple]
• Celgene (CELG)
• California Pizza (CPKI)
• NVIDIA (NVDA)
• Novartis AG (NVS)
• Freightcar America (RAIL)
• True Religion (TRLG)
Downgrades
• Am Superconductor (AMSC)
• Celgene (CELG)
• Energy Conversion (ENER)
• Georgia Gulf (GGC)
• Pediatrix Medical (PDX)
• Deltek (PROJ) [multiple]

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