Traders are coming in from a long three-day weekend and are walking into a negative open. The big news this morning is the drop in oil prices. Let's take a look at what else we need to have on the radar.

Story Stocks

EMC ( EMC): Stock is trading slightly lower after raising its offer for Data Domain ( DDUP).

Regis Corp ( RGS): Stock is lower after company announces stock and note offering.

Upgrades to Watch

Symantec ( SYMC): Upgraded to a buy at Deutsche Bank. $19 price target.

Franklin Resources ( BEN): JPMorgan raises stock to an overweight.

KLA Tencor ( KLAC): Credit Suisse raises stock to a neutral. $30 price target.

Nordstrom ( JWN): Goldman Sachs increases stock to a neutral. $21 price target.

Oshkosh ( OSK): Raised to a buy at KeyBanc.

Seagate Technology ( STX): Bank of America/Merrill raises stock to a buy.

Western Digital ( WDC): Bank of America/Merrill raises stock to a buy. $35 price target.

Sprint ( S): Raised to a buy at Auriga.

AMB Property ( AMB): Credit Suisse stock to an outperform. $22 price target.

T Rowe Price ( TROW): JPMorgan raises stock to neutral. $47.50 price target.

Microsoft ( MSFT): Bank of America/Merrill raises estimates. $28 price target.

Peabody Energy ( BTU): Goldman Sachs raises target price to $41.

Downgrades to Watch

Tobacco Sector: Morgan Stanley is cutting estimates for the group. Watch Altria ( MO), Reynolds American ( RAI) and Phillip Morris International ( PM).

Eaton Vance ( EV): JPMorgan cuts stock to an underweight.

FPL Group ( FPL): Credit Suisse cuts stock to neutral.

Citrix Systems ( CTXS): Oppenheimer cuts stock to a perform rating from outperform.

First Solar ( FSLR): Barclays Capital lowers target price to $175.

Chubb Corp ( CB): Barclays Capital cuts target price to $41.

Consol Energy ( BTU): Goldman Sachs cuts target price to $40. Maintains sell rating.

Cliffs Natural Resources ( CLF): FBR Capital Markets cuts target price to $35.

Federated Investors ( FII): JPMorgan cuts stock to an underweight.

Other Themes/Plays

Ultrashort Plays: watching key long plays such as DUG, SKF and SRS today if the market struggles.

Oil ( USO): Oil prices are getting hit hard this morning. I have been talking about the breakdown that has occurred since the middle of last week.

Gold ( GLD): Also trading lower this morning.

Treasuries ( TLT): Bonds are trading flat so far.

There were plenty of upgrades and downgrades this morning that should set the pace for the markets today. There were not a lot of story stocks or earnings to key on so we have to look at the calls today and how the downgrades do in the early going. If we see some of the names stabilize, the upgrades may be a place to turn to on the long side. I hope everyone had a great weekend, but now it's time to focus!

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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.