10 am update

At 10:10 am:

Dow +19
Nas -7
S&P +1.66

This is a key day as we need to stop this recent slide.  We are way overdone, but as of yet, no investors are willing to step in and Buy.

Analyst Upgrades and Downgrades...

Altera Corp. (ALTR) price target cut to $26.60 from $31.70; rating outperform at Macquarie


• Amazon.com Inc. (AMZN) price target cut to $150 from $155 at BofA Merrill

• Baker Hughes Inc. (BHI) price target cut to $47 from $61; rating cut to market perform from outperform at FBR

• Diamond Offshore Drilling (DO) rating cut to sell from neutral at Goldman Sachs

• eBay Inc. (EBAY) price target cut to $27 from $28 at BofA Merrill

• Ensco Plc. (ESV) price target cut to $55 from $63 at FBR

• Expedia Inc. (EXPE) price target cut to $29 from $30 at BofA Merrill

• Google Inc. (GOOG) price target cut to $630 from $685 at BofA Merrill

• Halliburton Co. (HAL) price target to $38 from $44 at FBR

• Nabors Industries (NBR) rating raised to buy from neutral at Goldman Sachs

• Noble Corp. (NE) rating cut to neutral from buy at Goldman Sachs

• Rowan Companies Inc. (RDC) price target cut to $24 from $26 at FBR

• Schlumberger (SLB) price target cut to $85 from $96 at FBR

• Yahoo (YHOO) price target cut to $20 from $21 at BofA Merrill

NY & Co. trims forcasts...

New York & Co. Inc. (NWY). The women's apparel chain on Monday widened its second-quarter loss outlook and also said it now expects about flat same-store sales for the second-quarter, compared with a rise in comparable-store sales it forecast last month.

First Solar responds to high demand in Europe...

First Solar Inc. (FSLR). The world's lowest-cost photovoltaic solar manufacturer on Tuesday said it plans to double production capacity at its German plant in Frankfurt an der Oder, to cater to strong European demand. The company said it is in advanced talks with German authorities to obtain the regulatory permits and financial framework for the expansion.

Earnings Expected Today....

• Bob Evans Farms Inc. (BOBE). Expected to report Q4 earnings of 63 cents a share, according to Thomson Reuters I/B/E/S

• Pall Corp. (PLL). Expected to report Q3 earnings of 50 cents a share

• Take Two Interactive Software Inc. (TTWO). Expected to report Q2 earnings of 27cents a share

• Talbots Inc. (TLB). Expected to report Q1 earnings of 16 cents a share

• Texas Instruments Inc. (TXN). Expected to report Q2 earnings of 61 cents a share