Dividend.com: Morning Playbook

There is not much of an indication yet regarding which way things are going to go for the bulk of the trading day. Buyers stepped up a bit late in the day yesterday, but the names that led were defensive in nature. A bit more of a run there and those stocks (PEP, PG, GIS) are going to be quite a bit overdone to the upside short-term. Let's take a look at what is jumping out in the early going.

Story Stocks:

Discover Financial Services ( DFS): Shares are lower after the company announces share and note offering.

Goldman Sachs ( GS): A touch lower after news the company's proprietary trading code may have been cracked.

Fluor Corp ( FLR): Stock is edging higher on news of recent contract wins.

Weyerhaeuser Company ( WY): Shares are lower after company cuts dividend payout 80%.

Upgrades to Watch:

3M ( MMM): Jefferies initiates stock as a buy.

KeyCorp ( KEY): Keefe Bruyette & Woods raises rating to outperform.

Annaly Mortgage ( NLY): Barclays Capital starts stock as an outperform.

Anadarko Petroleum ( APC): Merrill Lynch/Bank of America raises stock to a buy. $57 price target.

CenturyTel ( CTL): UBS raises stock to a buy. $35 price target.

Intel Corp ( INTC): Merrill Lynch upgrades stock to a buy.

Marvell Technology ( MRVL): Merrill Lynch upgrades stock to a buy.

Steel Dynamics ( STLD): Merrill Lynch/Bank of America upgrades stock to a buy. $17 price target.

Dicks Sporting Goods ( DKS): Goldman Sachs upgrades stock to a buy. $20 price target.

XL Capital ( XL): FBR Capital Markets raises target price to $17.

Nucor ( NUE): Goldman Sachs raises estimates. $50 price target.

Kohls ( KSS): Goldman Sachs upgrades stock to a buy. $50 price target.

Hess Corp ( HES): Barclays Capital raises stock to outperform. $75 price target.

Moody's ( MCO): Piper Jaffray raises stock to overweight. $32 price target.

Akamai ( AKAM): Goldman Sachs raises stock price target to $21.

Brocade Communications ( BRCD): Merrill Lynch/Bank of America raises price target to $9.

Citrix Systems ( CTXS): Goldman Sachs raises target to $35.

Hospira ( HSP): Merrill Lynch/Bank of America raises target price to $40.

Exxon Mobil ( XOM): Barclays Capital raises estimates. $91 price target.

Downgrades to Watch:

Alcoa ( AA): Goldman Sachs reduces estimates.

Bank of New York ( BK): Credit Suisse cuts estimates. $30 price target.

BJ's Wholesale Club ( BJ): Goldman Sachs cuts stock to a sell. $33 price target.

Themes/Plays:

Ultrashort Plays: DUG, SRS, and SKF did not offer much of an opportunity yesterday.

Oil ( USO): Oil prices are lower once again.

Treasuries ( TLT): Bonds are seeing a little bit of buying this morning.

Gold ( GLD): Prices are higher this morning after a down day yesterday.

Today will be a key day, especially for commodity plays. I will be watching how some of the recent leaders hold up, as it appears that the sector may be about to break down. I will be back with some names to watch as well as ideas that may be developing. In the meantime, be sure to go back to yesterday's posts to bring you up to speed to where things are.

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.

More from Personal Finance

'Worn-out' Shoemakers Still Have a Chance to Heal

'Worn-out' Shoemakers Still Have a Chance to Heal

Summer Travel: The Best Places to Visit in the U.S.

Summer Travel: The Best Places to Visit in the U.S.

9 Best Investment Books for Beginners

9 Best Investment Books for Beginners

How to Calculate Your Net Worth and Pin Down Your Financial Health

How to Calculate Your Net Worth and Pin Down Your Financial Health

The Best States for Millennials' Money and Health

The Best States for Millennials' Money and Health