UBS

UPGRADES:
Bank of America upgrades Procter & Gamble (NYSE: PG) from Neutral to Buy. Price target increased from $64 to $72.

Goldman Sachs upgrades MGM Mirage (NYSE: MGM) to Buy and raised their 12-month sum-of-the-parts based price target for MGM to $16 from $10. Click Here for more color.

Citi upgrades Domino's Pizza (NYSE: DPZ) to Buy from Hold. Price target increased from $11 to $14.

Goldman Sachs upgrades Comerica (NYSE: CMA) ...

UBS initiates coverage on CenterPoint Energy (NYSE: CNP) ...

Martin Midstream Partners L.P. (NASDAQ: MMLP) announced today that it has amended and extended its senior secured credit facility that was originally scheduled to mature on November 10, 2010. Under the terms of the amendment and extension reached with a syndicate of lenders, the Partnership upsized its ...

Reassurance Received

It isn't often we can label an across the board decline of -1% in the stock market as a good thing, but after yesterday morning’s flirtation with disaster, that’s exactly what we’re going to call it. Stocks initially opened lower on the back of yet another disappointing report on the housing market and the usual chatter about bank nationalization. However, once Ben Bernanke started talking again, things turned around.

In his second day of Congressional testimony, the Fed Chairman first reiterated his view that the economy should recover in 2010 if things go according to plan. Then after that, he cemented the idea that nationalization of the banks was off the table with the statement that the government does not plan "anything like" nationalization, which would wipe out the shareholders. Bernanke went on to suggest that there may also be some benefit to reviving the uptick rule.

So ...