Align Technology, Inc. (NASDAQ: ALGN) named Bull of the Day at Zacks.

Baker Hughes, Inc. (NYSE: BHI) named Bear of the Day at Zacks.

CACI International. Inc. (NYSE: CACI) Cut to Neutral with $53 target at Credit Suisse.

Cabela’s, Inc. (NYSE: CAB) reiterated Strong Buy and named as value stock of the day at Zacks.

Chesapeake Energy Corporation (NYSE: CHK) maintained Buy but cut target to $31 from $38 at BofA/ML; Raised to Outperform at Bernstein.

DaVita Inc. (NYSE: DVA) Cut to Neutral at R.W. Baird.

Green Mountain Coffee Roasters (NASDAQ: GMCR) Cut to Neutral at SunTrust Robinson Humphrey; Cut to Neutral at Piper Jaffray.

Level 3 Communications Inc. (NASDAQ: LVLT) Reiterated Buy with $37.50 target at BofA/ML.

MSCI Inc. (NYSE: MSCI) Raised to Outperform with $42 target at Credit Suisse.

Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

Priceline.com (NASDAQ: PCLN) reiterated Strong Buy and named the Aggressive Growth stock of the day at Zacks.

QUALCOMM Inc. (NASDAQ: QCOM) Reiterated Buy at BofA/ML.

Qihoo 360 Technology Co. Ltd (NYSE: QIHU) Started as Buy at Jefferies.

Salesforce.com Inc. (NASDAQ: CRM) Raised to Outperform with $185 target at Credit Suisse.

Tata Motors Ltd. (NYSE: TTM) Started as Overweight at HSBC.

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JON C. OGG

Markets opened slightly lower this morning and spent the morning trying to decide on a direction. The Reuters/University of Michigan Consumer Sentiment Index rose more than expected, but even that was not enough to charge up investors. In the early afternoon, advances were leading declines on the NYSE, while the status was just the reverse on NASDAQ. Both oil and gold prices were slightly lower after rising sharply yesterday. So far this month, markets are up a solid 13%.

The unofficial closing bells put the DJIA up nearly more than 21 points to 12,230.35 (0.18%), the NASDAQ fell about -1.5 points (-0.05%) to2,737.15, and the S&P 500 rose 0.03% or about 0.47 points to 1,285.06.

There were several analyst upgrades and downgrades today, including a raise for Advanced Micro Devices Inc. (NYSE: AMD) to ‘outperform’ at Wells Fargo. First Solar, Inc. (NASDAQ: FSLR) was maintained at ‘buy’ but the target price was cut to $90 at Argus; Potash Corp. of Saskatchewan Inc. (NYSE: POT) cut to ‘sector perform’ at Scotia; Pan American Silver Corp. (NASDAQ: PAAS) cut to ‘sector perform’ at CIBC; Sprint Nextel Corp. (NYSE: S) raised to ‘outperform’ at Macquarie; and Occidental Petroleum Corp. (NYSE: OXY) raised to ‘outperform’ with a new target price of $135 at Credit Suisse.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Chevron Corp. (NYSE: CVX) is up 0.3%, at $109.99, two pennies short of a new 52-week high; Coinstar, Inc. (NASDAQ: CSTR) is down about -7.6%, at $48.91; Merck (NYSE: MRK) is up 2.3%, at $35.10; Baidu, Inc. (NASDAQ: BIDU) is up 4.33% (our coverage here), at $144.38; Weyerhaeuser Co. (NYSE: WY) is up 1.6%, at $18.23; and The Interpublic Group of Companies, Inc. (NYSE: IPG) is up 11.6%, at $9.94 (our coverage here).

Several other standouts from today follow …

Stillwater Mining Co. (NYSE: SWC) is up more than 27%, at $12.65. The company beat earnings estimates this morning, and has reiterated its production estimates for platinum and palladium for 2011. Stillwater recycled 133,500 ounces of platinum, palladium, and rhodium in the third quarter, up 70% from the same period a year ago.

Align Technology, Inc. (NASDAQ: ALGN) is up more than 34%, at $23.94. The company posted solid earnings for the third quarter and announced a $150 million stock buyback program. Align manufactures and sells Invisalign teeth straightening products.

Stamps.com Inc. (NASDAQ: STMP) is up more than 25%, at $32.48 — a new 52-week high — following an outstanding earnings report. Stamps.com raised its non-GAAP EPS estimate for the second time this year, to $1.20-$1.40. The company originally estimated non-GAAP EPS of $0.85-$1.05.

Computer Programs and Systems Inc. (NASDAQ: CPSI) are down more than -28%, at $51.10. The company missed both revenue and EPS estimates for the quarter, and the fourth-quarter outlook is also weak. The company’s $1.44/share dividend takes some of the sting out of the poor results.

Spansion Inc. (NYSE: CODE) is down more than -25%, at $10.46, after posting a new 52-week lower earlier today of $9.17. The company released a weaker fourth-quarter forecast and announced the closure of its plant in Kuala Lumpur as part of its effort to cut costs.

Digital River Inc. (NASDAQ: DRIV) is down more than -19%, at $18.52. The company’s third-quarter earnings were short of expectations and the fourth-quarter forecast was lowered.

Stay tuned for Monday.  We have noted the following events (all times Eastern):

9:45 a.m. — Chicago Purchasing Managers Index
3:00 p.m. — USDA farm prices

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Align Technology, Inc (NASDAQ: ALGN) Started as Neutral with $19 target at Credit Suisse.
Baidu, Inc. (NASDAQ: BIDU) Cut to Buy from Strong Buy at S&P Equity Research (late-Tuesday).
Brocade Communications Systems, Inc. (NASDAQ: BRCD) Cut to Underweight at JPMorgan.
Demand Media, Inc. (NYSE: DMD) Cut to Neutral at Goldman Sachs.
First Solar Inc. (NASDAQ: FSLR) Cut to Sell at Ticonderoga.
Hecla Mining Company (NYSE: HL) named Value stock of the day at Zacks.
hhgregg, Inc. (NYSE: HGG) cut to Underperform as Bear of the Day at Zacks.
InterMune, Inc. (NASDAQ: ITMN) Reiterated Buy with $44 target at Canaccord Genuity.
Limited Brands, Inc. (NYSE: LTD) named Bull of the Day at Zacks.
Minefinders Corp. (NYSE: MFN) named growth stock of the day at Zacks.
Nokia Corporation (NYSE: NOK) Raised to Neutral at Nomura.
Patriot Coal Corporation (NYSE: PCX) Cut to Sell at Goldman Sachs.
Seagate Technology PLC (NASDAQ: STX) Cut to Neutral at JPMorgan.
Vistaprint N.V. (NASDAQ: VPRT) Cut to Sell at Goldman Sachs.

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JON C. OGG

Align Technology, Inc. (NASDAQ: ALGN) is getting clipped after earnings because of a disappointing guidance. The maker of Invisalign teeth systems is seeing shares trade down about 12% to $18.21 in light volume trading.

Amazon.com, Inc. (NASDAQ: AMZN) is trading down 1.6% at $162.35 in active trading. The drop is probably less than what many might have considered when the stock was down 4% in earlier indications. Margins remain under pressure at the company due to expansions, although earnings appear to have been ahead of estimates.

ArcSight, Inc. (NASDAQ: ARST) is halted this morning.  NASDAQ has this listed as “T12 CODE: Trading is halted pending receipt of additional information requested by NASDAQ.” Stay tuned.

Baidu, Inc. (NASDAQ: BIDU) is up after profits more than doubled and beat expectations.  Shares are up 4% more to $106.65 on very active trading and the 52-week range is $35.30 to $107.19.

LiveDeal, Inc. (NASDAQ: LIVE) is seeing shares up 10% at $15.44 this morning so far on very thin trading volume.  This stock usually trades 4,000 shares per day but the stock was up exponentially yesterday on over 200,000 shares as the move went from under $5 to over $22 with a close of $14.00.  Be advised, the bid/ask spread here is wide enough for a fleet of trucks to drive through.

LM Ericsson Telephone Co. (NASDAQ: ERIC)  managed to beat earnings expectations and shares are up 6.5% at $11.47 in active pre-market trading.  Share volume was active overseas already.

Netflix, Inc. (NASDAQ: NFLX) is trading down less than 1% this morning, but this is after yesterday’s large gain. On last look, shares were down about 0.8% around $171.40.

Riverbed Technology, Inc. (NASDAQ: RVBD) is soaring this morning after exceeding earnings targets.  Analysts are chasing the name up this morning and the stock’s last trade was up over 13% at $52.00 versus a prior 52-week trading range of $19.62 to $48.78.

SanDisk Corporation (NASDAQ: SNDK) is running after earnings held up better than many had feared.  The pure-play flash memory giant is seeing a gain of 6% to $39.36 on more than 200,000 shares this morning.

ViroPharma Incorporated (NASDAQ: VPHM) was halted after the FDA issued a complete response letter regarding Cinryze™ and has requested additional information.

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JON C. OGG

AGA Medical Holdings (NASDAQ: AGAM) Started as Outperform at Baird.
Align Technology (NASDAQ: ALGN) Reiterated Buy (call on weakness) at Brean Murray.
Allied Irish Banks plc (NYSE: AIB) Raised to Buy at RBS.
Bank of Ireland (NYSE: IRE) Raised to Hold at RBS.
Boeing Co. (NYSE: BA) Raised to Outperform at Oppenheimer.
Darden Restaurants, Inc. (NYSE: DRI) Raised to Outperform at Cowen.
Neflix Inc. (NASDAQ: NFLX) Cut to equal weight at Barclays.
Nokia Corp. (NYSE: NOK) Raised to Buy at UBS.
Sequenom Inc. (NASDAQ: SQNM) Started as Underperform with $0.50 target at Wedbush Morgan.

JON C. OGG

Gentex Corporation (NASDAQ: GNTX) rose over 14.4% to a yearly high of $20 after the maker of vehicle mirrors reported 4Q earnings that beat analyst consensus.

Solutia Inc. (NYSE: SOA) rose over 12% to a yearly high of $14.20 after the chemical company reported earnings of $0.43, beating analyst estimates.

Garrett W. McIntyre

Ford Motor Co. (NYSE: F) is up 2% but on huge volume after a full year profit.

Netflix, Inc. (NASDAQ: NFLX) is challenging 52-week highs with close to 20% gains after beating earnings and 3 upgrades.

Flextronics International Ltd. (NASDAQ: FLEX) has turned out to be the disappointment in the EMS sector after peers all seemed to have double-digit percentage gains.

Last night’s Double-Digit Percentage movers as of 8:52 AM EST this morning:  we saw double-digit losses in Qualcomm, Inc. (NASDAQ: QCOM) and in Tetra Tech, inc. (NASDAQ: TTEK).  This morning QCOM is down 8.5% still, while TTEK has worsened and down 13%.  Align Technology Inc. is still up over 10% on over 50,000 shares.

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JON C. OGG

Rigel Pharmaceutical Inc. (Nasdaq: RIGL) shares are down sharply after its rheumatoid arthritis candidate missed its efficacy endpoint in a trial.

Microsoft Corp. (Nasdaq: MSFT) are the most active in the premarket, after it reported  lower-than-expected revenue that fell 17.3% from the same period last year.

SunPower Corp. (Nasdaq: SPWR) shares are among the biggest premarket gainers after the company posted a 10-cent a shre earnings beat, and gave upside guidance.

Align Technology Inc. (Nasdaq: ALGN) shares also are on the rise, after an earnings beat.

Amazon.com Inc. (Nasdaq: AMZN) shares are down nearly 6 percent as one of the most active decliners, after it reported in-line EPS.

Juniper Networks Inc. (Nasdaq: JNPR) shares are down on strong premarket volume despite better-than-expected earnings results, as gross margins were disappointing.

LM Ericsson Telephone Co. (Nasdaq: ERIC) shares are down 7 percent after it reported earnings this morning.

Sepracor Inc. (Nasdaq: SEPR) shares are up on strong volume following its earnings and raised fiscal 2009 guidance.

-The 24/7 Wall St. Team

The company believes it will see non-GAAP EPS of $0.04 to $0.06 andRevenues at $64 to $65 million.  Unfortunately, First Call estimatesare $0.11 EPS and $80.17 million.  For fiscal 2008, it sees non-GAAPEPS in a range of $0.29 to $0.33 on $309 to $314 million, whileestimates are $0.40 EPS and $320.99 million in revenues.

As far as share buybacks, it bought back 2.2 million shares for a $27.7million at an average price of $12.65; and it has $22.3 million leftunder its existing buyback.  The company can easily fund this buybackwith its $110.1 million in cash and equivalents and $57.95 million intotal liabilities.  The company is eliminating $5M to $6M from expensesin the second half as well, which will be from layoffs and othermeasures.

The company did note that its revenue growth expectations have come inas consumer spending has continued to soften.  In short, when you arefeeling poor it’s easier to put off a decision to straighten your teeth.

Despite the fact that this was already down close to 60% from its52-week highs, shares are challenging 52-week lows at $9.50.  Its prior52-week range was $9.65 to $29.30.

Jon C. Ogg
July 29, 2008

Total revenues for the third quarter were $71.5 million, a year-over-year increase of 46% compared to $49.0 million in the third quarter of 2006 (Q3 06) and a decrease of 7% in a seasonally slower quarte. As disclosed previously, Q2 07 revenues of $76.6 million included $5.2 million in backlog shipments caused by the allocation of capacity to the Patients First Program during prior quarters.  Non-GAAP net profit for Q3 07 was $12.6 million or $0.17 per diluted share.  Estimates were $71.38 million in revenues and $0.08 EPS.

CFO Eldon Bullington is retiring. He is only 55 years old according to the last data, which may be deemed a bit young for retiring.  Who knows, maybe that’s really the case since this has run up exponentially since he became CFO in 2002.  He will be succeeded by Kenneth B. Arola, Align’s vice president of finance and corporate controller since 2005.

Align had $110.0 million in cash, cash equivalents, marketable securities and restricted cash, compared to $64.1 million as of December 31, 2006.  Here is the guidance:

• For the fourth quarter 2007, Align Technology expects revenues of $69.5 to $72.2 million and Non-GAAP EPS in a range of $0.11 to $0.13.  Unfortunately, estimates are $73.99 in revenues and $0.11 EPS.

Jim Cramer was just discussing this one positively last week, so it will be interesting to hear if he thinks this is a buying opportunity or if it was the wrong call.  Align shares were up 0.7% today ahead of earnings, but shares are now down over 20% at $22.50.  Its 52-week trading range is $12.55 to $29.71.

Jon C. Ogg
October 24, 2007