Today's noteworthy upgrades include: ABB (ABB) upgraded to Hold from Underperform at Jefferies... Albemarle (ALB) upgraded to Conviction Buy from Buy at Goldman... Annaly Capital (NLY) upgraded to Market Perform from Underperform at FBR Capital... ArcelorMittal (MT) upgraded to Overweight from Neutral at JPMorgan... CSX (CSX) upgraded to Buy from Neutral at Buckingham... Castlight Health (CSLT) upgraded to Overweight from Equal-Weight at First Analysis... Chuy's (CHUY) upgraded to Outperform from Neutral at Wedbush... Eli Lilly (LLY) upgraded to Outperform from Neutral at Credit Suisse... Fibria Celulose (FBR) upgraded to Buy from Neutral at Citi... FireEye (FEYE) upgraded to Hold from Sell at Gabelli... New York REIT (NYRT) upgraded to Outperform from Market Perform at JMP Securities... Norsk Hydro (NHYDY) upgraded to Buy from Neutral at Goldman... Otonomy (OTIC) upgraded to Buy from Neutral at BofA/Merrill... PAREXEL (PRXL) upgraded to Outperform from Neutral at Baird... Parker-Hannifin (PH) upgraded to Neutral from Underweight at JPMorgan... Potlatch (PCH) upgraded to Neutral from Sell at UBS... Rapid7 (RPD) upgraded to Overweight from Equal Weight at Barclays... Wells Fargo (WFC) upgraded to Overweight from Neutral at JPMorgan... Weyerhaeuser (WY) upgraded to Neutral from Sell at UBS... Zurich Insurance (ZURVY) upgraded to Buy from Hold at HSBC.

Scotiabank analyst Patrick Colville last night initiated coverage of Rapid7 with a Sector Perform rating and $46 price target. The analyst sees some execution risk and estimate risk. The company's exposure to smaller companies, large enterprise accounts not standardizing on Rapid7, the company ceding share in vulnerability management, and it capping investment "might be a drag," the analyst tells investors in a research note. The firm says the shares "aren't a golden buying opportunity right now."

Parker Hannifin has declared a quarterly cash dividend of $1.63 per share of common stock to shareholders of record as of May 10, payable June 7.

Bearish flow noted in Annaly Capital with 5,188 puts trading, or 3x expected. Most active are Jun-24 18 puts and May-24 18.5 puts, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 2.27, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 24th.

Deutsche Bank lowered the firm's price target on Norsk Hydro to NOK 85 from NOK 87 and keeps a Buy rating on the shares.