Upgrades and downgrades before the market open:

Market news

12 November 2012

Upgrades and downgrades before the market open:

Walt Disney (DIS) was upgraded to Buy at Citigroup

McDonald's (MCD) was initiated with Buy at Davenport

Johnson & Johnson (JNJ) was downgraded to Hold at Jefferies

Caterpillar (CAT) was downgraded to a Neutral at JPMorgan.

Before the bell: S&P futures +0.36%, Nasdaq futures +0.52%

Option expiries for today's 1400GMT cut:

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