We are hearing of more stock offerings from managements that understand the liquidity window will not stay open forever. Let's take a look at what's moving the market and what areas of the market you should be focused.

M&A:

EMC ( EMC): Indicated lower after announcing bid for Data Domain ( DDUP). This move is in reaction to Network Appliance's ( NTAP) bid for Data Dominion.

Cameron ( CAM): Opened slightly lower after announcing a takeover of Natco Group ( NTG), an oil-services competitor.

Share Offerings:

Morgan Stanley ( MS), American Express ( AXP), Express Scripts ( ESRX): All three opened lower after the companies announced they would be selling shares.

Story Stocks:

Pepsi Bottling Group ( PBG): Raised estimates for second-quarter and full-year 2009 EPS.

Walgreen ( WAG): May same-store sales rose 1%.

Upgrades to Watch:

Lockheed Martin ( LMT) and General Dynamics ( GD): Both stocks were upgraded to outperform at Morgan Keegan.

Bucyrus ( BUCY) and Joy Global ( JOYG): Both stocks had their target prices raised by Barclay's ( BCS).

Intuitive Surgical ( ISRG): High beta play upgraded to a buy at Needham. This is going to be a stock to watch for momentum investors today.

Downgrades to Watch:

Bankrate ( RATE): Cut to a hold at Citigroup ( C).

Juniper Networks ( JNPR): Downgraded to neutral at UBS ( UBS).

Fast Movers to Watch:

Google ( GOOG), Priceline ( PCLN), Baidu ( BIDU) and Amazon ( AMZN): All four of these big-name tech stocks are coming off big days yesterday and will be the gauge for for any continued high-beta strength.

Financials:

Goldman Sachs ( GS) and JPMorgan Chase ( JPM): Neither stock participated all that much in yesterday's rally. Watch for any downside action in the early going.

Transports:

Union Pacific ( UNP), Burlington Northern Santa Fe ( BNI), and FedEx ( FDX): All three jumped yesterday and are at a good place to watch again. Oil is dropping in early trading today.

Themes:

Sears ( SHLD): Shot back over $60 yesterday.

Agnico-Eagle Mines ( AEM): Gold-mining shares have been struggling to hold intraday gains the last few trading sessions.

Inflation ETFs/Indices to Watch:

SPDR Gold Shares ( GLD): Moving higher in the early going today.

U.S. Oil ( USO): Oil prices are taking a breather in the early going.

iShares Barclays 20+ Year Treasury Bond ( TLT): Treasuries are showing a bit of a bounce this morning.

Be sure to tie in and review all of our recent playbook posts, as we will be watching all the recent themes for various opportunities. Always know where your stops are of your positions to avoid potential big losses.

Also be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.
At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.

Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.

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