The futures are rising on news that CIT Group ( CIT) is negotiating a rescue package. I am not sure if the market was all that worried about this potential bankruptcy considering how well the markets traded last week, and the news of a potential CIT bankruptcy was apparent before the markets closed for trading on Friday. Let's take a look at where the action is today.

Story Stocks

Weatherford ( WFT): Stock is lower after posting second-quarter results.

Eaton ( ETN): Stock is higher despite lowering 2009 profit outlook.

Halliburton ( HAL): Shares are higher following second-quarter report.

Johnson Controls ( JCI): Stock is higher despite third-quarter profits falling 63%.

Hasbro ( HAS): Stock is higher after beating second-quarter estimates.

M&T Bank ( MTB): Shares run higher after second-quarter results.

Entergy ( ETR): Shares are flat after warning about 2009 full-year profits.

Human Genome Sciences ( HGSI): Stock has more than doubled today on positive lupus drug news.

Upgrades to Watch

Cisco Systems ( CSCO): Credit Suisse ( CS) upgrades stock to an outperform; $25 price target.

Allergan ( AGN): Citigroup ( C) upgrades stock to a buy; $57 price target.

Caterpillar ( CAT): Merrill Lynch/ Bank of America ( BAC) upgrades stock to a buy; $45 price target.

American Campus Communities ( ACC): Bank of America/Merrill Lynch restarts coverage with a buy; $26 price target.

Peabody Energy ( BTU): FBR ( FBCM) upgrades stock to an outperform; $44 price target.

Elan ( ELN): UBS ( UBS) raises stock to a buy.

Danaher ( DHR): Morgan Stanley ( MS) upgrades stock to outperform; $73 price target.

W.W. Grainger ( GWW): Morgan Stanley upgrades stock to equal-weight; $85 price target.

FMC Technologies ( FTI): JPMorgan Chase ( JPM) upgrades stock to neutral; $48 price target.

McGraw-Hill ( MHP): Barclays Capital raises estimates and price target to $38.

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