The unofficial closing bells put the DJIA up about 125 points to 12,294.68 (1.03%), the NASDAQ rose more than 19 points (0.74%) to 2,618.64, and the S&P 500 rose 0.9% or more than 11 points to 1,265.31.

There were several analyst upgrades and downgrades today, including American Eagle Outfitters Inc. (NYSE: AEO) cut from ‘buy’ to ‘hold’ at Standpoint Research; RAM Energy Resources Inc. (NYSE: RAM) raised from ‘market perform’ to ‘outperform’ at Rodman; Trius Therapeutics Inc. (NASDAQ: TSRX) started as ‘outperform’ at Robert W. Baird; Walgreen Co. (NYSE: WAG) maintained as ‘hold’ with a lowered price target of $36 at Jefferies; and Scana Corp. (NYSE: SCG) maintained as ‘buy’ with raised price target of $43 at Wunderlich.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Bioanalytical Systems Inc. (NASDAQ: BASI) is up more than 15% at $1.60 and CalAmp Corp. (NASDAQ: CAMP) is down more than -19% at $4.13. All told a light day for earnings reports.

Other standouts from today include the following stocks:

RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 21% at $2.43. The independent oil & gas company continues its run from yesterday, when if finished up more than 70% on news of re-listing on Nasdaq and a $550 million private equity investment.

North American Energy Partners Inc. (NYSE: NOA) is up more than 33% at $6.98. The oil field services company will resume its contract with Canadian Natural Resources Ltd. (NYSE: CNQ) pending a final contract signing.

First Acceptance Corp. (NYSE: FAC) is up nearly 33% at $1.36. A director of the insurance company bought 200,000 shares on Wednesday.

PHH Corp. (NYSE: PHH) is down more than -5% at $10.53. The mortgage servicer’s credit ratings were cut yesterday at S&P  and the fallout continues.

Mead Johnson Nutrition Co. (NYSE: MJN) is down about -5.5% at $64.97. The food processing company had its Enfamil infant formula recalled at Wal-Mart Stores Inc. (NYSE: WMT) yesterday, and Walgreen’s, Safeway, Kroger, and Supervalu stores followed today.

Shutterfly Inc. (NASDAQ: SFLY) is down nearly -5% at $23.89. The Internet photo site cut its fourth-quarter guidance this morning.

Markets are closed Monday, December 26. Stay tuned for Tuesday. Here are the noteworthy events on the schedule (all times Eastern):

• 9:00 a.m. – S&P Case-Shiller housing price index
• 10:00 a.m. – Conference Board consumer sentiment index
• 10:00 a.m. – State Street investor confidence index

Have a Merry Christmas Day and great weekend.

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The unofficial closing bells put the DJIA up more than 63 points to 12,170.86 (0.52%), the NASDAQ rose more than 21 points (0.83%) to 2,599.45, and the S&P 500 rose 0.83% or more than 10 points to 1,254.07.

There were several analyst upgrades and downgrades today, including Potash Corp. of Saskatchewan (NYSE: POT) raised from ‘sector perform’ to ‘outperform’ at RBC Capital Markets. Other ratings actions today include Agrium Corp. (NYSE: AGU) cut from ‘outperform’ to ‘sector perform’ at RBC Capital Markets; Saks Inc. (NYSE: SKS) cut from ‘outperform’ to ‘neutral’ at Zack’s; Vivus Inc. (NASDAQ: VVUS) cut from ‘buy’ to ‘neutral’ at Roth Capital and maintained ‘outperform’ at Credit Suisse; and Micron Technology Inc. (NASDAQ: MU) maintained as ‘buy’ with an $11 target price at Sterne Agee and maintained as ‘outperform’ at Credit Suisse.

Here are some of last night’s and today’s post-earnings news reactions with prices during the last half-hour of trading: Micron Technology is up nearly 18% at $6.54; American Greetings Inc. (NYSE: AM) is down more than -21% at $13.37, after posting a new 52-week low of $12.85 earlier in the day; CPI Corp. (NYSE: CPY) is down more than -62% at $2.00, after posting a new 52-week low of $1.96 earlier in the day; Neogen Corp. (NASDAQ: NEOG) is down nearly -3% at $31.15; Tibco Software Inc. (NASDAQ: TIBX) is up nearly 8% at $23.74; and Bed Bath & Beyond Inc. (NASDAQ: BBBY) is down more than -6% at $57.70.

Other standouts from today include the following stocks:

RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 71% at $1.88. The independent oil & gas company has today relisted on the NASDAQ and has also announced a $550 million investment from a private equity firm headed by the former chairman and CEO of Petrohawk.

WCA Waste Corp. (NASDAQ: WCAA) is up nearly 31% at $6.43, after posting a new 52-week high of $6.44 earlier. The non-hazardous waste processor has approved a cash buyout offer for $526 million ($6.50/share) from a private investment fund.

ARCA biopharma Inc. (NASDAQ: ABIO) is down more than -24% at $1.02, after posting a new 52-week low of $0.97 earlier today. The biopharmaceutical firm announced a private placement of $1.75 million in stock and warrants.

PHH Corp. (NYSE: PHH) is down more than -15% at $11.01 after posting a new 52-week low of $8.75 earlier today. The mortgage servicer’s credit ratings were cut at S&P to ‘BB-’ on concern that the company would not be able to make a $423 million debt repayment scheduled for March 2013 out the its free cash flow.

Vivus Inc. (NASDAQ: VVUS) is down more than -16% at $8.72 after posting a new 52-week low of $8.60 earlier. The biopharmaceutical firm announced that its weight-loss drug Qnexa led to a higher rate of birth defects in children whose mothers were taking the drug during pregnancy.

LRR Energy, L.P. (NYSE: LRR) is up more than 9% at $19.34. The independent oil & gas company has received positive ratings from several brokers following last week’s more than 9 million new common units.

Stay tuned for Friday. Here are the noteworthy events on the schedule (all times Eastern):

• 8:30 a.m. – Durable goods orders report
• 8:30 a.m. – Personal income and spending report
• 10:00 a.m. – New home sales

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According to Bloomberg "GE agreed on March 15 to buy PHH, sell the mortgage division to New York-based Blackstone and keep the vehicle- leasing unit. The acquisition price was $31.50 a share." PHH shares currently trade below $18.

The company’s third quarter results were reason enough to cause a buyer to walk. Revenue fell almost 10% to $484 million and the net loss increased over five-fold to $38 million.

No one should be surprised if the shares go below $15 and stay there for some time.

Douglas A. McIntyre

Here is a short list of the deals that 24/7 Wall St. still think could be in trouble. These deals could be killed or, at least, be renegotiated to a lower price.

Sallie Mae (SLM), which originates and holds student loans is an obvious candidate. Against an offer price of $60, the shares now trade at $48. The New York Times has written that private equity firm J.C. Flowers & Co. plans to seek a lower price. Congress has sent the President a bill which could cut about $20 billion in government subsidies to banks that make student loans, according to the AP. Flowers and its banks could cansider that a "material adverse effect."

Acxiom (ACXM) The database management company has an offer from Silver Lake and ValueAct Capital in which the firms would pay Acxiom shareholders $27.10 a share to take the company private. The shares trade at $22. The company announced an 88% decrease in income from operations last quarter. Earlier this month, the company cut 265 people.

PHH (PHH) Blackstone (BX) said it is working with investment banks in an effort to seek more debt funding for the buyout. But, the deal is in trouble since banks sent revised terms for the takeover. The stock is trading at under $25. When the deal was announced, it hit $31.52.

The Tribune Company (TRB) Sam Zell, the leader of this buy-out, keeps insisting that the deal will close. But, the company’s revenue keeps falling and was off over 5% in August. The buyout, for $8.2 billion, will leave the company awash in debt, even though it is selling non-core assets like the Chicago Cubs to improve the balance sheet. The shares trade at $28, after hitting $34.28 when the purchase plan was announced.

Myers (MYE)  The rubber and plastic manufacturer recently said its $1.1 billion acquisition by a private equity arm of investment bank Goldman Sachs will likely be delayed until the fourth quarter. Income from operations dropped in the June quarter from $7.1 million last year to $2.5 million in 2007. Shares trade at $19.75 against a post-deal announcement high of $22.73.

Reddy Ice (FRZ) Shares now trading at $26.50 after hitting $32.31 on buyout news. The AP wrote that Reddy Ice planned $1.1 billion buyout by GSO Capital Partners LP encountered turbulence, when Morgan Stanley objected to amendments to the deal saying they violated conditions of the bank’s loans.The Fool wrote that the company’s recent weak results, coupled with the tightening credit markets, led GSO to renegotiate parts of the transaction already.

Penn National Gaming (PENN) The racetrack and casino operator agreed in June to a $67-a-share buyout by Fortress. The Wall Street Journal recently pointed out that shares of several buyout targets are also reflecting an increased degree of caution, including Penn. Net income and EPS at the company both fell in the June quarter. With the stock at $59, investors are not indicating much confidence in an offer that is $8 higher.

United Rental (URI) The equipment rental company agreed to to sell itself to affiliates of private equity firm Cerberus Capital Management for $4 billion. But, the SEC is investigating the company over accounting issues. Operating income rose 12% in the June quarter, but the SEC issue could allow Cerberus a way out. Shares trade at $31.45 against a post buy-out high of $35.56.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.

PHH (PHH) Mortgage and vehicle fleet company was going to be bought by Blackstone (BX) and GE (GE). But, market environment seems to have killed that. Drops to $22.51 from 52-week high of $31.52.

Marsh & McLennan (MMC) Big insurance brokerage company fires head of largest unit. Down to $24.60 from 52-week high of $33.90.

Alcatel-Lucent (ALU) Telecom equipment company get downgrade after revising forecast down. Falls to $8.53 from 52-week high of $15.43.

Moody’s (MCO) Ratings agency under more pressure for bad ratings. Drops to $42.42 from 52-week high of $76.09.

Central Garden & Pet (CENT) Bad weather conditions and volatile grain prices. Down to $9.26 from 52-week high of $55.11.

Douglas A. McIntyre