Vringo remains the day’s biggest gainer, up more than 31% at $1.51. The social media software maker is apparently basking in the glow of the coming Facebook IPO. We have more coverage here.

RadioShack remains the day’s biggest loser, down nearly -30% at $7.17 after posting a new 52-week low of $7.15 earlier this morning. The electronics retailer pre-announced quarterly earnings this morning and the outlook for gross margins is killing the stock. Volume is about 18x the daily average. See more coverage here.

Clean Diesel Technologies is up nearly 22% at $3.55 in a 52-week range of $1.50-$11.20.

FriendFinder Networks is up more than 28%. The adult social media company is likely also being bought up on the prospective Facebook IPO.

Verifone is up more than 9% at $43.10. The payment systems maker is getting a boost from a plan by Mastercard Inc. (NYSE: MA) to subsidize the installation of new card readers that use a microchip rather than a magnetic stripe to store customer information.

The DJIA is off -0.20% at around 12, 628, the S&P 500 is down -0.04% at about 1,312, and the Nasdaq Composite is up 0.13% at about 2,816.

Paul Ausick

Shares of RadioShack are down nearly -29% in early trading this morning on a weak pre-announcement of quarterly results. Nearly 31 million shares have been traded so far today, compared with a 3-month daily average of about 2 million shares traded. We have more coverage here.

A big winner this morning has been Vringo, also up about 29% on essentially no news. More than 2 million shares have traded this morning, compared with a 3-month daily average of around 65,000. Our take on the run-up is here.

Gentex is down more than -11% following a quarterly earnings report that missed estimates due to falling margins. Nearly 3 million shares have traded this morning, compared with a 3-month daily average of about 753,000.

Rare Earth Resources is up nearly 15% on essentially no news other than a ruling from the WTO that China’s restriction on rare earth minerals’ exports violates global trade rules. More than 5 million shares have traded by mid-day, compared with a daily average of about 1.4million.

Clean Diesel shares are up more than 14% on essentially no news. More than 600,000 shares have already traded this morning, compared with a 3-month daily average of about 140,000 shares.

Paul Ausick

The unofficial closing bells put the DJIA up more than 259 points to 12,153.46 (2.18%), the NASDAQ rose more than 53 points (2.04%) to 2,678.75, and the S&P 500 rose 1.95% or more than 24 points to 1,263.85.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) started as ‘neutral’ at Nomura. Other changes included Cameron International (NYSE: CAM) reiterated ‘buy’ with $73 target at BofA/ML; Melco Crown Entertainment Ltd. (NASDAQ: MPEL) maintained ‘neutral’ but cut target to $14 at JPMorgan; NVIDIA Corporation (NASDAQ: NVDA) reiterated ‘buy’ with $18 target at BofA/ML; SUPERVALU Inc. (NYSE: SVU) reinstated as ‘neutral’ at BofA/ML; and Regions Financial Corporation (NYSE: RF) started as ‘outperform’ at BMO Capital.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Dillard’s Inc. (NYSE: DDS) is down more than -13%, at $47.91; D.R. Horton, Inc. (NYSE: DHI) is down more than -2%, at $11.42; Bacterin International Holdings, Inc. (NASDAQ: BONE) is up more than 6%, at $2.90; Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is down more than -3.5%, at $3.45; and The Howard Hughes Corp. (NYSE: HHC) is up more than 2.5%, at $47.25.

Several other standouts from today are as follows…

Pinnacle Data Systems Inc. (AMEX: PNS) is up more than 105%, at $2.36. The company has accepted a takeover offer from Avnet, Inc. (NYSE: AVT) worth $2.40/share.

Alimera Sciences, Inc. (NASDAQ: ALIM) is down nearly -74%, at $1.94. The company failed to get FDA approval for its eye pain drug.

pSivida Corp. (NASDAQ: PSDV) is down more than -46%, at $2.11. The company had licensed to Alimera an element of the drug that failed the FDA test.

Molycorp, Inc. (NYSE: MCP) is down more than -13%, at $33.43. The company missed earnings and revenue estimates.

Hovnanian Enterprises Inc. (NASDAQ: HOVNP) is down more than -9%, at $1.40. The company did not have any news today, but likely suffered from the earnings report from D.R. Horton.

Tanzanian Royalty Exploration Corp. (AMEX: TRX) is up more than 20%, at $2.75. The company’s shares were halted earlier, and the company issued a statement that there was no particular event responsible for the heavy trading in the stock.

Except for short-term Treasury Bill auctions, there are no events scheduled for Monday.

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Paul Ausick

Insmed, Inc. (NASDAQ: INSM) shares are down more than -30%, at $3.01 after posting a new 52-week low of $2.75 this morning. The FDA has requested another study of the company’s Arikace treatment for cystic fibrosis patients suffering from a lung infection. The request continues a clinical hold on late-stage testing of the drug until the company completes a new nine-month study and to provide information on the risk-benefit profile of Arikace.

Allos Therapeutics, Inc. (NASDAQ: ALTH) is down more than -17%, at $1.45, after posting a new 52-week low of $1.38 earlier this morning. The company’s proposed acquisition by AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) has been withdrawn following the acquisition of 5.8% of AMAG shares by a hedge fund manager opposed to the deal who has offered $18/share for AMAG. Two other investment firms that together own about a third of Allos’s shares also oppose the Allos acquisition.

Superior Energy Services, Inc. (NYSE: SPN) is down more than -17%, at $22.66, after posting a new 52-week low of $22.19 this morning. The company has agreed to buy another oil field services company, Complete Production Services, Inc. (NYSE: CPX) for $2.7 billion. The deal includes $555 million in cash ($7/share) and 0.945 shares of Superior stock for each share of Complete stock. The combined company would have a market cap of around $4 billion, still far smaller than other industry players.

Clean Diesel Technologies, Inc. (NYSE: CDTI) is down more than -12.5%, at $2.91, in a 52-week range of $0.79-$44.38. The company makes and sells emissions control systems and other products for both heavy-duty diesel vehicles and lighter vehicles fueled by gasoline, diesel, and natural gas. Since posting the high last October, the stock has been on a steadily falling trend with the exception of about three or four price spikes that had the short-term effect of doubling the stock’s price before it turned downward again.

Sprint Nextel Corp. (NYSE: S) shares are down about -8.5%, at $2.21, after setting a new 52-week low this morning of $2.20. The company held an analysts meeting last Friday which had opposite effect from what it intended. Six firm put downgraded the stock this morning: Deutsche Bank to ‘hold’ from ‘buy’ with a $3 target price cut; JPMorgan from ‘overweight’ to ‘neutral’; Collins Stewart from ‘buy’ to ‘neutral’ with a $3 price target; Kaufman Brothers from ‘buy’ to ‘hold’; Mizuho from ‘buy’ to ‘neutral’; and Raymond James from ‘strong buy’ to ‘outperform’.

Tegal Corp. (NASDAQ: TGAL)is down more than -13%, at $2.03, in a 52-week range of $1.50-$4.95. The company participates in large scale solar power projects. The company has been trying to auction its intellectual property portfolio and was forced last week to extend the deadline for bids by two weeks. That pushed the shares down to the 52-week low and the continuing softness no doubt signals that investors are worried about how successful the IP sale will be.

Paul Ausick

This agreement is a worldwide, non-exclusive agreement which enables Hilite to license Clean Diesel’s ARIS airless injection technology for selective catalytic reduction control of vehicle oxides of nitrogen emissions in global original equipment manufacturer markets. Hilite chose to incorporate Clean Diesel’s SCR and EGR-SCR technologies into its own portfolio of SCR technologies to enable their customers to optimize fuel efficiency while
minimizing harmful emissions.

Hilite International has also obtained rights to Clean Diesel’s patented combination of the use of exhaust gas recirculation in conjunction with SCR for reducing fuel consumption while meeting stringent emissions standards.

Financial terms were not readily available, but as far as the size of Clean Diesel Tech it generated only $4.925 million in revenues during all of 2007 and its market cap is a mere $105 million.

Jon C. Ogg
June 16, 2008

After United Rentals (NYSE:URI) said it was suing Cerberus on the broken merger, Cerberus is taking its own defensive actions to cap the damages to $100 million.

The O.E.C.D. puts total U.S. write-offs and write-downs at roughly $300 Billion from major U.S. banks, while so far only $50 Billion has been estimated out of major banks as to what may be written down…..Source, New York Times.

UAL Corp. (NASDAQ:UAUA) may be closer to a merger than they led on… source, Business Week.   Business Week also wonders if Google (NASDAQ:GOOG) is winded……and it talks up Clean Diesel Technologies (NASDAQ:CDTI)….

Bond insurer CIFG is being acquired for some $1.5 Billion by Groupe Banque Populaire and Groupe Caisse d’Epargne to take ownership from Natixis….. New York Times ran a story.

ArcelorMittal (NYSE:MT/ADR) confirmed media reports that it is in talks with controlling holders in China Oriental Group Limited on increasing its stake from 28%.

CNET and TechCrunch reported that News Corp. (NYSE:NWS) may acquire social networking site LinkedIn in early 2008.

Amazon.com’s (NASDAQ:AMZN) Kindle e-book reader priced at $399.00 is actually sold out already, with a new December 5, 2007 ‘in-stock’ date.

Financial Times reported that Goldman Sachs (NYSE:GS) is trying to raise $4 to $6 Billion for a new stock picking hedge fund… not quant, not computerized… old fashioned stock picking.

Corning (NYSE:GLW) may be one to watch as SAMSUNG is reportedly investing $2.2 Billion to increase its LCD production.

WSJ ASIA: China Railway raised 22.44 billion yuan from its Shanghai initial public offering, after pricing its shares at the top of the indicated price range.

Jon C. Ogg
November 23, 2007