Acme Packet, Inc. (NASDAQ: APKT) Cut to Neutral at Wedbush; estimates and targets lowered after revenue warnings from Morgan Keegan and Wells Fargo.
Affymetrix Inc. (NASDAQ: AFFX) Raised to Neutral from Underweight at JPMorgan.
AK Steel Holding Corporation (NYSE: AKS) Raised to Neutral at Bank of America Merrill Lynch.
Apple Inc. (NASDAQ: AAPL) Reiterated Outperform with $500 target and raised estimates at Credit Suisse.
Crown Castle International Corp. (NYSE: CCI) Started as Buy at Stifel Nicolaus.
EMC Corporation (NYSE: EMC) added to the U.S. Focus List at Credit Suisse.
General Dynamics Corporation (NYSE: GD) Raised to Overweight at JPMorgan.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) Reiterated Buy with $94 target at Canaccord Genuity.
Lockheed Martin Corporation (NYSE: LMT) Cut to Underperform by RBC Capital Markets.
Mosaic Co. (NYSE: MOS) Cut to Neutral at Citigroup.
NetApp Inc. (NASDAQ: NTAP) Cut to Neutral from Outperform at Credit Suisse.
Potash Corp. of Saskatchewan, Inc. (NYSE: POT) Started as Underperform at National Bank.
Steel Dynamics Inc. (NASDAQ: STLD) Raised to Buy at Bank of America Merrill Lynch.
TiVo Inc. (NASDAQ: TIVO) Raised to Overweight at Evercore Partners.

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JON C. OGG

Affymetrix Inc. (NASDAQ: AFFX) Raised to Neutral from Sell with a $4.50 price target at Goldman Sachs.
AMC Networks Inc. (NASDAQ: AMCX) Started as Overweight at J.P.Morgan.
Broadcom Corporation (NASDAQ: BRCM) Raised to Outperform at Wells Fargo.
Canadian Solar, Inc. (NASDAQ: CSIQ) named as Bear of the Day by Zacks Investment Research.
Cisco Systems, Inc. (NASDAQ: CSCO) Started as Buy at Nomura.
Deckers Outdoor Corporation (NASDAQ: DECK) Cut to Underperform from Buy at Stern Agee.
E-Commerce China Dangdang Inc. (NYSE: DANG) Started as Hold at Brean Murray.
Elan Corporation, plc (NYSE: ELN) Raised to Buy at Deutsche Bank.
Estee Lauder Companies (NASDAQ: EL) Raised to Outperform as Bull of the Day at Zacks.
First Solar, Inc. (NASDAQ: FSLR) Cut to Neutral from Buy at R.W. Baird.
Invesco Mortgage Capital Inc. (NYSE: IVR) Cut to Market Perform from Outperform at Keefe Bruyette & Woods.
The Interpublic Group of Companies, Inc. (NYSE: IPG) Started as Overweight at Barclays.
Juniper Networks, Inc. (NYSE: JNPR) Started as Neutral at Nomura.
Omnicom Group Inc. (NYSE: OMC) Started as Equal Weight at Barclays.
OmniVision Technologies (NASDAQ: OVTI) lowered estimates again but maintained as Buy with $12.00 price target at Canaccord Genuity.
Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) Raised to the Conviction Buy List with a $47.00 price target objective at Goldman Sachs.
PetroChina Co. Ltd. (NYSE: PTR) Raised to Buy from Neutral at Citigroup.
Renren Inc. (NYSE: RENN) Started as Hold at Brean Murray.
Riverbed Technology, Inc. (NASDAQ: RVBD) Started as Neutral at Nomura.
Siemens AG (NYSE: SI) Cut to Neutral from Buy at Goldman Sachs.
Youku.com Inc (NYSE: YOKU) Started as Hold at Brean Murray.

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Among NYSE stocks, the short interest in AMD (NYSE: AMD) fell 15% to 80.4 million shares. Shares sold short in embattled airline stock AMR (NYSE: AMR), the parent of American Airlines, dropped by 19% to 48.8 million. Rumors suggest the company may declare Chapter 11. Eastman Kodak (NYSE: EK) may also face bankruptcy. Shares short in the company fell 11% to 70.2 million.

Shares short in BP (NYSE: BP) were down 49% to 7 million. The short interest in struggling drug retailer Rite Aide (NYSE: RAD) dropped 11% to 61.1 million. Shares short in its competitor CVS Caremark (NYSE: CVS) were off 21% to 27.3 million.

In the medical sector, shares short in Boston Scientific (NYSE: BSX) were down 19% to 39 million. The short interest in Pfizer (NYSE: PFE) fell 10% to 79.3 million.

The same pattern of abandonment of stocks in weak companies held true for Nasdaq-traded shares. The short interest in Dell (NASDAQ: DELL) dropped 23% to 60.6 million. The short interest in Level 3 (NASDAQ: LVLT) fell 8% to 168.6 million. Shares short in News Corp. (NASDAQ: NWSA) dropped 9% to 51.8 million. The short interest in Cisco (NASDAQ: CSCO) dropped 6% to 80.7 million. Shares short in Affymetrix (NASDAQ: AFFX) fell 32% to 6.0 million.

Notable increases in short interest included troubled wireless broadband company Clearwire (NASDAQ: CLWR). Shares sold short in the company rose 15% to 47.8 million. The short interest in Southwest Air (NYSE: LUV) was higher by 15% to 25.2 million.

Short interest as of October 14. Data from NYSE and Nasdaq.

Douglas A. McIntyre

Affymetrix, Inc. (NASDAQ: AFFX) is down nearly 20% premarket to $6.44, relative to a 52-week range of $3.75-$8.16. The company issued dissapointing 2Q results.

APAC Customer Services, Inc. (NASDAQ: APAC) is up more than 55% premarket to $8.47, relative to a 52-week range of $4.61-$6.50. The company is being acquired by One Equity Partners for $470 million.

ASML Holding, N.V. (NASDAQ: ASML) is up nearly 3% premarket on moderate volume within a relative range of $24.64-$45.92. UBS upgraded ASML from “neutral” to “buy.”

Affymetrix, Inc. (NASDAQ: AFFX) is up 13% to $5.30, relative to a 52-week range of $3.75-$8.38. The company announced a distribution agreement with Fisher Scientific Inc.

China Recycling Energy Group (NASDAQ: CREG) is up more than 15% premarket to $3.50, relative to a 52-week range of $2.58-$6.16. The company recently replaced its CEO.

Lululemon Athletica (NASDAQ: LULU) is up more than 10% premarket to $74, relative to a 52-week range of $25.75-$74.60. The yoga wear company recently upped its fourth quarter guidance.

Sequenom, Inc. (NASDAQ: SQNM) is up more than 4% premarket to $8.20, relative to a 52-week range of $3.91-$8.65.

Hapoalim Securities negative on Trina (NYSE: TSL)–hold– and Solartech Power (NYSE: STP)–sell.

Sanford Bernstein takes Nokia (NYSE: NOK) to “underperform” from “market perform”

Affymetrix (NASDAQ: AFFX) dropped to “neutral” from “overweight” by Piper Jaffray.

Morgan Stanley move up controversial DryShips (NASDAQ: DRYS) to “equal weight” from “underweight”.

Franklin Resources (NYSE: BEN) pushed to “outperform” from “market perform” by FBR.

Douglas A. McIntyre

Sanofi-Aventis (NYSE: SNY) telegraphed that it is interested in acquisitions last week and Amgen Inc. (NASDAQ: AMGN) telegraphed ‘some’ of the same in June.  With everyone looking for the next buyout target, we gave a full rundown of these to review some potential acquisition targets along with data on partnerships and more.

Affymetrix Inc. (NASDAQ: AFFX) is an outright guidance issue today and is one of the worst of the lot in stocks. The company lowered its expected revenue guidance due to issues on delayed purchases and budget cuts, but it also blamed a weak Euro for its mess.  The company is into consumables and systems for genetic analysis in the life sciences and clinical healthcare markets.  Shares are down almost 24% at $4.23 on over 4.2 million shares (more than triple-normal volume.  The stock also hit a new 52-week low of $3.95 so its new range for the year is $3.95 to $10.06.

Corcept Therapeutics Inc. (NASDAQ: CORT) hasn’t had formal news since last week’s announcement that it has completes enrollment in Phase 3 Cushing’s Syndrome study with the end-of year time frame for its data presentations.  Much of today looks just like regaining yesterday’s drop.  This is up on very thin volume versus its average of just under 100,000 shares in a day: up 9.8% at $3.24 on only about 25,000 shares.  The 52-week range is $0.75 to $3.93.

Curis, Inc. (NASDAQ: CRIS) appears to be some added give-back of yesterday morning’s gains.  The move had been based initially upon a Phase I triggering a $3 million milestone payment under Hsp90 collaboration with Debiopharm.  Shares are down 5.5% at $1.37 on about 240,000 shares.  This is also thin volume versus about 700,000 shares per day.  The 52-week range is $1.28 to $3.70.

CytRx Corporation (NASDAQ: CYTR) has not seen news and is down for a second day.  The speculative oncology sector has another loser with shares down 7.6% at $0.65 on about 752,000 shares.  Average volume is just over 1 million shares and the 52-week range is $0.62 to $1.72.  Keep in mind that the $0.62 is the low from this morning… another 52-week low.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is up big today, but not on any news from the tape.  This has been hoped for and thought of as a possible takeover stalker (noted in Amgen-Sonofi piece).  Shares are up 5.5% at $23.05 on just over 4 million shares.  The average volume is 4.96 million shares and the 52-week range is $2.25 to $34.49.

NexMed, Inc. (NASDAQ: NEXMD) is almost counter-intuitive.  The specialty CRO received a NASDAQ letter dated yesterday from The NASDAQ Hearings Panel stating that it is now in compliance with listing standards.  Shares are down over 18% at $3.12 on 1.05 million shares.  Average volume is 225,000 shares and the 52-week range is $1.80 to $12.60.

Nymox Pharmaceutical Corporation (NASDAQ: NYMX) is down after the company said its injected investigational drug for prostate enlargement showed a reduction in patient urgency to urinate by 52% after three months versus palcebo in a follow-up Phase 3 trial.  Nymox is down 2.5% at $2.75 on 222,000 shares versus average volume of 125,000 shares.  Interestingly, this $2.64 low is also a 52-week low: $2.64 to $7.07 is its 52-week range.

Xenoport, Inc. (NASDAQ: XNPT) is getting whacked on news that it and GSK disclosed that their migraine drug gabapentin enacarbil failed a mid-stage trial because it failed to reach statistical significance.  This is one of the day’s worst and that $6.35 intra-day low price marks a new 52-week low.  Shares have been as high as $25.42 over the last year and the average volume is only about 719,000 shares.  In early afternoon trading, this one is down over 26% at $6.54 on over 5 million shares.

JON C. OGG

Affymetrix Inc. (NASDAQ: AFFX) Cut to Underweight at Piper Jaffray.
The Andersons, Inc. (NASDAQ: ANDE) Raised to Buy and $41 target at BB&T.
Charm Communications Inc. (NASDAQ: CHRM) Started as Outperform at Credit Suisse.
FirstEnergy Corp. (NYSE: FE) Cut to Hold at Citigroup.
The Mosaic Company (NYSE: MOS) Maintained Hold but Target cut to $45 from $57 at Soleil.
OpenTable, Inc. (NASDAQ: OPEN) Cut to Hold at Citigroup.
Potash Corp. of Saskatchewan (NYSE: POT) Maintained Hold but Target cut to $89 from $100 at Soleil.
ProLogis (NYSE: PLD) Raised to Market Perform at Wells Fargo.
Public Service Enterprise Group, Inc. (NYSE: PEG) Added to Conviction Buy List at Goldman Sachs.
QuinStreet, Inc. (NASDAQ: QNST) Raised to Overweight at Thomas Weisel.
Wimm-Bill-Dann (NYSE: WBD) Added to Focus Sell List at Goldman Sachs.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Baidu. Inc. (NASDAQ:BIDU) is soaring by double-digits on hope that Google will really leave China.

Google Inc. (NASDAQ: GOOG) is down about 2% on its China news.

National Bank of Greece SA (NYSE: NBG) is the stock of Greece to watch for the EU accusations that Greece falsified financial data that is far worse than the 12.5% budget deficit.

MDRNA, Inc. (NASDAQ: MRNA) is flying up 78% on already exponential trading volume on positive cancer data.

TriQuint Semiconductor, Inc. (NASDAQ: TQNT) is up almost 4% on guidance.

Affymetrix Inc. (NASDAQ: AFFX) is down 14% on a downgrade.

You are invited to join our free daily email distribution list from 24/7 Wall St. to hear about ongoing day trader and options trader alerts, analyst upgrades and downgrades, stock and market rumors, Buffett and guru investor news, M&A and IPOs, and more.

JON C. OGG

• Affymetrix (AFFX) Cut to Underweight at JPMorgan.
• Air Products (APD) Cut to Neutral at JPMorgan.
• American Capital (ACAS) Cut to Underperform at KBW.
• Amylin Pharma (AMLN) Cut to Sell at Canaccord.
• Applied Materials (AMAT) Started as Sell with $8 target at Auriga.
• Apollo Investment (AINV) Cut to Market Perform at KBW.
• Citrix Systems (CTXS) Cut to Neutral at Credit Suisse.
• DryShips (DRYS) Cut to Underperform at Oppenheimer.
• Exxon Mobil (XOM) Cut to Neutral at Goldman Sachs.
• iRobot (IRBT) Cut to Neutral at JPMorgan.
• Lam Research (LRCX) Cut to Underperform at Credit Suisse.
• Netflix (NFLX) Started as Sell at Maxim Group.
• Neustar (NSR) Cut to Neutral at JPMorgan.
• Norsk Hydro (NHY) Cut to Market Perform at Bernstein.
• NYSE Euronext (NYX) Cut to Neutral at Piper Jaffray.
• Peabody Energy (BTU) Cut to Market Perform at FBR.
• United Parcel Service (UPS) Cut to Underweight at Morgan Stanley.

Jon C. Ogg
January 29, 2009