Air Lease Corporation (NYSE: AL) Started as Outperform at Credit Suisse.
AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) Raised to Outperform at Baird.
Analog Devices Inc. (NYSE: ADI) Raised to Buy at BofA/ML.
Anadarko Petroleum Corporation (NYSE: APC) Raised to Outperform at Wells Fargo.
Broadcom Corporation (NASDAQ: BRCM) Raised to Outperform at BMO.
Capital One Financial Corporation (NYSE: COF) Reiterated Sell at Argus.
eBay Inc. (NASDAQ: EBAY) Raised to Buy at ThinkEquity.
Education Realty Trust Inc. (NYSE: EDR) Raised to Outperform at KBW.
Franklin Resources Inc. (NYSE: BEN) Raised to Buy at BofA/ML.
Garmin Ltd. (NASDAQ: GRMN) Maintained Underperform at BofA/ML.
Goldman Sachs Group Inc. (NYSE: GS) Raised to Overweight at JPMorgan.
Medtronic Inc. (NYSE: MDT) Cut to Sell at Argus.
Mosaic Co. (NYSE: MOS) Raised to Buy at Citigroup.
NVIDIA Corporation (NASDAQ: NVDA) Raised to Buy at Auriga.
Old Dominion Freight Line Inc. (NASDAQ: ODFL) Reiterated Strong Buy as Aggressive Growth at Zacks.
Oracle Corporation (NASDAQ: ORCL) Raised Target to $41 as Bull of the Day at Zacks.
Potash Cor. of Saskatchewan (NYSE: POT) Raised to Buy at Citigroup.
TASER International Inc. (NASDAQ: TASR) Cut to Underweight at JPMorgan.
Tesoro Logistics LP Common Unit (NYSE: TLLP) Started as Outperform at Wells Fargo; Started as Outperform at Credit Suisse; Started as Buy at BofA/ML.
Universal Forest Products Inc. (NASDAQ: UFPI) Maintained Underperform as Bear of the Day at Zacks.
Wisconsin Energy Corporation (NYSE: WEC) Cut to Hold at Argus.

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JON C. OGG

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) is soaring after it said that the company has reached an agreement with the FDA to update the label for its anemia drug Feraheme with precautions.  Shares are up 17% to $16.48 on the news, but keep in mind that the 52-week range is $13.75 to $52.49.

Irish banks are cheering the bailout of Ireland, even if these are become more and more government-owned out of the plan.  Allied Irish Banks plc (NYSE: AIB) is up 8.8% at $1.03 and The Bank of Ireland (NYSE: IRE) is up over 19% at $1.72.  The National Bank of Greece SA (NYSE: NBG) is far from Ireland, but it has that PIIGS thing going for it.  Help for one, help for all… NBG shares are up 1.7% at $1.75.

DryShips, Inc. (NASDAQ: DRYS) is seeing a pop this morning after its Ocean Rig UDW subsidiary signed a contract with Borders & Southern Petroleum for a 2 well exploration and drilling pact in the offshore Falkland Islands area for roughly $77 million.

Netlist Inc. (NASDAQ: NLST) is up after it announced that Compellent Technologies  has qualified and selected its NetVault NV for production shipments in the Compellent Storage Center solution; shares are up 8% at $2.57.

Elsewhere in the world of ADRs… Alcatel-Lucent (NYSE: ALU) shares are indicated down 3.5% at $2.74 after a $2.84 close on Friday.  Ryanair Holdings plc (NASDAQ: RYAAY) is down about 2% at $29.90 after a $30.48 close on Friday.

Voltaire Limited (NASDAQ: VOLT)  is soaring on a buyout: Mellanox Technologies is acquiring the company for $8.75 per share in cash.  Shares are up 34% at $8.65 to a new high.

JON C. OGG

We have compiled details on each stock with certain expectations and relevant data on each.

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) was hit very hard with shares going from $45 to $35 before a late Friday recovery.  The drop was due to a boutique analyst cutting the stock over concerns that Feraheme patients are being hospitalized with severe allergic reaction events.  After the close on Friday the company defended itself showing that the risks here are very low and may not be any different than previously thought.   Shares closed at $37.77 but were up at $39 on almost 100,000 shares in the after-hours session.

Apple Inc. (NASDAQ: AAPL) is going to be one to watch this week, if for no other reason than its stock chart.  Late in January, just as in December, Google fell under the 50-day moving average.  We are looking for some resolution here because it is at a classic right side of a head and shoulders pattern yet again.  By Wednesday the stock will have spent close to the same number of days as in the past before challenging that 50-Day moving average.  In short, Apple will need to rise or more technicians are going to join in the call from our affiliate Adam Hewison looking for $182 or much lower.  On the valuation front, Apple is still #5 on our own Real-Time 500 measuring companies by free market capitalization at $177+ billion.

Baidu, Inc. (NASDAQ: BIDU) is on deck with earnings this week, and we are going to get to hear  from the Chinese search giant about just how much Google’s China-War is helping the company.  This stock closed up 1.8% on Friday at $448.80 and that was almost $10 off its lows of the day.  was up ahead of next week’s earnings, so maybe China’s loan halts are not affecting quite everyone.  Shares were up 1.85% at $449.00 right before the close.  For such a bad week in the market, Baidu closed up 9% this week.  This is the one to watch for earnings movers this week, and we’d expect those light volume days of stock options to get more active.  The estimates today are $1.68 EPS and $180 million in revenues, although this also marks its fiscal-2009 report.

Denny’s Corp. (NASDAQ: DENN) was a mystery move on Friday with a 5.8% gain to $2.54.  Some are betting that the casual dining chain will be a winner from its Super Bowl advertisement this year.  It is just as easy to show that it is a waste of money considering its low cash and declining sales.  There is one other issue, and that is that in late-January Oak Street Capital Management, Soundpost Advisors, and Lyrical Partners formed a joint filing group collectively owning 4,850,943 shares, about 5.02%.  At the time, they did not have any plans or proposals for ‘Lenny’s.’

In the Land of M&A, we have to watch this Air Products & Chemicals Inc. (NYSE: APD) $60 cash buyout of Airgas Inc. (NYSE: ARG).  ARG closed at $60.96 and traded as high as $62.82 because the company had already turned down higher offers from the company.  Jefferies believes a higher deal price is very likely, and $68 was not ruled out in that analysis.  Our own math looks more like a $65 buyout price, market conditions permitting.

There is another deal to ‘potentially watch for’ from Micron Technology Inc. (NASDAQ: MU).  Last week’s rumor mill has the DRAM giant considering making a play for Numonyx, which is the flash memory spin-off of Intel Corp. (NASDAQ: INTC) and STMicroelectronics (NYSE: STM) formed in 2008.  Micron has been in a state of change for some time, and it might make sense to double its efforts away from mostly DRAM.

Gilead Sciences Inc. (NASDAQ: GILD) has two issues on deck this coming week.   The company has a presentation at BIO CEO on February 9 and there is a pending February 13 date for a FDA decision on its Cayston antibiotic for cystic fibrosis.  This stock has been very quiet over the last two years and at $46.38 it is in the middle of its $40.62 to $53.03 trading range over the last 52-weeks. With many products on the market and a $41 billion market cap, it takes a lot to move the needle here… just do not bother telling that to those who made big options bets on Friday in the Feb-2010 CALLS: $47 saw 15,464 contracts trade versus an open interest of 8,084 contracts; the $49 strike saw 16,371 contracts trade versus an open interest of 9,238 contracts.

XenoPort, Inc. (Nasdaq: XNPT) has a February 9 FDA decision date for its GSK1838262/XP13512 a.k.a. Horizant treatment for moderate-to-severe primary restless legs syndrome with partner GlaxoSmithKline (NYSE: GSK).  This is a big deal, although it is far from a final resolution.  Options have traded based on this event.  Keep in mind that GSK is a risk now because it has told the company that it is proposing to cease discovery research in certain neuroscience areas, including depression and pain and will disclose this development plan at a future date.  Full details and background at at BioHealthInvestor.com.

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

JON C. OGG

Advanced Micro Devices (AMD) Cut to Market Perform at FBR.
Amicus Therapeutics (FOLD) Cut to Neutral at JPMorgan
AMAG Pharmaceuticals (AMAG) Cut to Hold at Jefferies.
Fifth Third Bancorp (FITB) Cut to Buy from Conviction Buy List at Goldman Sachs.
Polycom (PLCM) Cut to Market Perform at Wells Fargo.
TiVo (TIVO) Started as Neutral at JPMorgan.

You can join our open email distribution list which goes out several times per week for top day trader alerts, analyst upgrades and downgrades, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more.

JON C. OGG

AMAG Pharmaceuticals (NASDAQ: AMAG) Cut to Hold at Citigroup.
Apple Inc. (NASDAQ: AAPL) Raised to Outperform at JMP Securities.
The Blackstone Group (NYSE: BX) Raised to Conviction Buy at Goldman Sachs.
JetBlue (NASDAQ: JBLU) Cut to Neutral at JPMorgan.
Lazard (NYSE: LAZ) Raised to Conviction Buy at Goldman Sachs.
RadioShack (NYSE: RSH) Raised to Overweight at Morgan Stanley.
Stifel Financial (NYSE: SF) Cut to Neutral at Goldman Sachs.
Talbots (NYSE: TLB) was upgraded to Buy at Citi and raised to Neutral at Piper Jaffray.
Tiffany & Co. (NYSE: TIF) Raised to Outperform at Credit Suisse.
Xerox Corp. (NYSE: XRX) Raised to Buy at Brean Murray.
Yahoo! Inc. (NASDAQ: YHOO) Raised to Buy at BofA/Merrill Lynch.

JON C. OGG

• Immersion Corp. (Nasdaq: IMMR) is getting whacked down on an investigation into previous revenue transactions in its medical business.
• Speculative gold stocks DROOY, GOLD, AU, AUY were up on active interest with commodities.
• Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) Inc. shares were indicated lower after the company raised capital from institutional investors.
• AMAG Pharmaceuticals Inc. (Nasdaq: AMAG) is trading higher after the FDA approved the company’s Feraheme drug as an iron replacement therapy.
• Watch UBS AG (NYSE: UBS) and Credit Suisse (NYSE: CS) on Swiss-US tax issues may be closer to abating.
• Premarket Alert: Watch defense contractors on contract news (OSK, FRPT, GD, NAV)…
• Myriad Genetics (NASDAQ: MYGN) is getting destroyed on its deep revenue warning.

You can check each morning at VSInvestor.com for earlier pre-market indications in stocks on the move you might not have seen.

Jon C. Ogg

Alcatel-Lucent (ALU) Raised to Outperform at Baird.
Allergan (AGN) Started as Buy at UBS.
AMAG Pharma (AMAG) Started as Buy at Citigroup.
Employers Holdings (EIG) Raised to Outperform at KBW.
JPMorgan Chase (JPM) Started as Outperform at Baird.
Logitech (LOGI) Raised to Neutral from Underperform at B of A Merrill.
McDonald’s (MCD) Raised to Outperform at Baird.
Palm (PALM) Raised to Outperform at RBC.

JON C. OGG

Things are so bad at Crocs (CROX) that it is off nearly 50% down near $1.

Optimer Pharmaceuticals (OPTR) continues to be volatility. Details here..

AgFeed (FEED) is getting crushed.

NetApp (NTAP) is today’s tech winner.

AMAG Pharmaceuticals (AMAG) is making a big run up.

• AMAG Pharmaceuticals (AMAG) Started as Overweight at JPMorgan
• Andersons (ANDE) Started as Outperform at Oppenheimer
• Bank of America (BAC) Raised to Market Perform at KBW
• BMC Software (BMC) Raised to Neutral at JPMorgan
• Cadence Design Systems (CDNS) Raised to Overweight at JPMorgan
• Citrix Systems (CTXS) Raised to Overweight at JPMorgan
• Inter Parfums (IPAR) Raised to Buy at Piper Jaffray
• Jefferies (JEF) Raised to Market Perform at KBW
• McDermott International (MDR) Started as Buy at American Tech Research
• Myriad Genetics (MYGN) Started as Outperform at Oppenheimer
• NuVasive (NUVA) Started as Overweight as JPMorgan
• Symantec (SYMC) Raised to Overweight at JPMorgan

Jon C. Ogg
October 8, 2008

Cell Genesys (NASDAQ: CEGE) offered 7.1 shares for $30 million in gross proceeds to a single institutional investor at $4.22 per share to finance product development and general corporate purposes. Shares are down 6% to $42.12. The 52-week is $30.34 to $49.18.

Imclone Systems Inc. (NASDAQ: IMCL) is down almost 5% after a downgrade by Morgan Stanley, citing belief that Erbitux will fail to reach expectations. Shares are trading at $42.31 in mid-day trading. The 52-week range is $30.34 to $49.18.

XOMA Ltd. (NASDAQ: XOMA) down over 8% after reporting larger than expected first quarter losses. They showed a loss of $14.2 million and revenues of $12.1 million, failing to hit estimates by Thomson of $16.4 million. Shares trading at $2.12. The 52-week range is $1.96 to $4.39.

Tercica Inc. (NASDAQ: TRCA) up almost 7% today in anticipation of positive first quarter earnings to be announced after market close. Shares trading at $4.77on a 52-week range of $4.30 to $8.11.

Rachel Lopez
May 12, 2008