Dividend.com: Morning Playbook

On the morning of the General Motors'(GM Quote) bankruptcy, traders are passing around the party hats as futures are flying higher. We are seeing continued upgrades from Wall Street analysts and hope that end-of-month buying will continue into the early part of June. We're not too sure how long the euphoria will last, but let's take a look at what to watch in the early going.

Upgrades to Watch:

Abercrombie & Fitch(ANF Quote): Stock is indicated higher after it was upgraded at FBR and its target raised to $37.

Whole Foods(WFMI Quote): The stock is looking up after RBC raises target on the organic supermarket chain to $25.

Yahoo(YHOO Quote): Barclay's ups the Internet portal rating to overweight.

Bunge(BG Quote): Morgan Stanley(MS Quote) sets a $64 target price on the name.

Illinois Tool Works(ITW Quote): Credit Suisse(CS Quote) bumps the target price to $39.

U.S. Steel(X Quote): Goldman Sachs(GS Quote) raises target price to current levels and stock is looking up nicely again this morning.

Wells Fargo(WFC Quote): Morgan Stanley raises the target price all the way to $44 this morning. Stock is looking higher.

Downgrades to Watch:

Sara Lee(SLE Quote): Goldman Sachs puts a sell on the stock.

Schnitzer Steel(SCHN Quote): Goldman also puts a sell on this name and sets the target at $38.

Mosaic(MOS Quote): Fertilizer play has estimates cut at Goldman, but stock is indicated higher.

We will be watching the steel plays closely as well as Wells Fargo to see if the financials can gain more traction.

Story Stocks:

Prudential Financial(PRU Quote): Refuses TARP, selling shares instead.

SunTrust(STI Quote) Announces common stock offering.