Allergan Inc. (NYSE: AGN) Raised to Buy at Argus.
Carrizo Oil & Gas (NASDAQ: CRZO) is named as a top small cap idea with multiple ways to win and with a “valuation too tepid” and firm reiterated a Buy rating and gave a new target of $49.00 by Canaccord Genuity.
DENTSPLY International (NASDAQ: XRAY) named as Bull of the Day at Zacks.
DreamWorks Animation SKG, Inc. (NASDAQ: DWA) Cut to Average at Caris & Co.
Electronic Arts Inc. (NASDAQ: ERTS) Raised to Buy from Neutral at Citigroup.
IAMGOLD Corp (NYSE: IAG) Started as Outperform with $25.00 price target objective at Credit Suisse.
Google Inc. (NASDAQ: GOOG) Raised to Buy at Citigroup.
Linear Technology Corporation (NASDAQ: LLTC) named as Bear of the Day at Zacks.
Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) Cut to Neutral from Buy at BofA/Merrill Lynch.
Seagate Technology PLC (NYSE: STX) Raised to Buy at Argus.
Signet Jewelers Limited (NYSE: SIG) named as value stock of the day at Zacks.
VeriSign, Inc. (NASDAQ: VRSN) named as aggressive growth stock of the day at Zacks.

Yahoo! Inc. (NASDAQ: YHOO) maintained Buy with an $18.00 price target objective at BofA/Merrill Lynch.

In the field of satellite imaging, Canaccord Genuity cut its ambitions due to austerity cuts: DigitalGlobe (NYSE: DGI) was maintained at Buy but the target was cut to $23.50; GeoEye, Inc. (NASDAQ: GEOY) was maintained as Hold and the target wass lowered to $22.00 per share.

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JON C. OGG

The unofficial closing bells put the DJIA down more than -389 points to 11,780.94 (-3.2%), the NASDAQ fell nearly -106 points (-3.88%) to 2,621.65, and the S&P 500 fell -3.67% or nearly -47 points to 1,229.10.

There were several analyst upgrades and downgrades today, including DreamWorks Animation SKG Inc. (NYSE: DWA) cut to ‘sell’ at Janney; H&R Block, Inc. (NYSE: HRB) raised to ‘outperform’ at Oppenheimer; Priceline.com Inc. (NASDAQ: PCLN) cut to ‘hold’ at S&P Capital IQ; Rite Aid Corporation (NYSE: RAD) raised to ‘outperform’ at Credit Suisse; Walgreen Co. (NYSE: WAG) cut to ‘neutral’ at Credit Suisse; and Autodesk Inc. (NASDAQ: ADSK) cut to ‘neutral’ at BofA/ML.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: General Motors Co. (NYSE: GM) is up down about -10%, at $22.48; A123 Systems Inc. (NASDAQ: AONE) is down less than -1%, at $3.09; IntraLinks Holdings, Inc. (NYSE: IL) is down more than -37%, at $5.50, after posting a new 52-week low of $5.44 earlier today; Blue Nile Inc. (NASDAQ: NILE) is down nearly -16%, at $33.24; Harvest Natural Resources Inc. (NYSE: HNR) is down more than -19%, at $8.80; and Neenah Paper, Inc. (NYSE: NP) is up more than 12%, at $18.84.

Several other standouts from today are as follows…

Energy Conversion Devices, Inc. (NASDAQ: ENER) is down more than -32%, to $0.41. The company has said that it will suspend manufacturing and cut 500 jobs. Excess inventory of solar panels gets the blame.

U.S. Auto Parts Network, Inc. (NASDAQ: PRTS)  is down  more than -22%, at $3.94, after posting a new 52-week low of $3.66 earlier in the day. The company received a waiver from one of its lenders for failing to meet coverage ratio requirements.

O’Reilly Automotive, Inc. (NASDAQ: ORLY) is down about -1.1%, at $76.44, after posting a new 52-week high of $77.95 earlier today. We noted the company’s performance earlier today in an article on auto sector implied gains.

American Superconductor Corp. (NASDAQ: AMSC)) is up nearly 10%, to $4.49. The company reported earnings today, and its growing order backlog indicates a possible turnaround following the loss of its biggest customer earlier this year.

Noranda Aluminum Holding Corp. (NYSE: NOR) is down more than -16%, at $8.51. The company will pay a special dividend of $1/share to shareholders of record as of yesterday’s close. That pushed the shares down a buck this morning, and the rest is due to the overall market decline today.

Citigroup (NYSE: C) is down more than -8%, at $28.78. The bank claimed the largest decline among the big US banks today.

Beazer Homes USA Inc. (NYSE: BZH) is down nearly -8%, at $2.17. There was no special news from Beazer today, but the threatened burst of new foreclosures soon to hit the housing market have had a nasty effect on this lower-priced builder.

Stay tuned for Thursday. Atlanta Federal Reserve Bank president Dennis Lockhart is giving a speech in the morning and Federal Reserve chairman Ben Bernanke will hold a town hall meeting with soldiers and their families at Fort Bliss, Texas, at 11:45 a.m. We have noted the following events (all times Eastern):

• 8:30 a.m. – International trade balance report
• 8:30 a.m. – Initial unemployment benefits claims
• 8:30 a.m. – Monthly import/export price report
• 9:45 a.m. – Bloomberg consumer comfort index
• 10:30 a.m. – EIA natural gas inventory report
• 2:00 p.m. – Monthly US Treasury budget report
• 4:30 p.m. – Federal Reserve balance sheet and money supply report

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Paul Ausick

Alaska Communications Systems Group Inc. (NASDAQ: ALSK) Cut to Underperform at BofA/ML.
Autodesk Inc. (NASDAQ: ADSK) Cut to Neutral at BofA/ML.
Avon Products, Inc. (NYSE: AVP) cut to Underperform as Bear of the Day at Zacks.
Blue Nile Inc. (NASDAQ: NILE) Cut to Sell at Deutsche Bank.
China Automotive Systems Inc. (NASDAQ: CAAS) Cut to Neutral at Piper Jaffray.
DreamWorks Animation SKG Inc. (NYSE: DWA) Cut to Sell at Janney.
Equity Residential (NYSE: EQR) Raised to Buy at Argus.
H&R Block, Inc. (NYSE: HRB) Raised to Outperform at Oppenheimer.
Priceline.com Inc. (NASDAQ: PCLN) Cut to Hold at S&P Capital IQ (late-Tuesday).
Rite Aid Corporation (NYSE: RAD) Raised to Outperform at Credit Suisse.
Rovi Corporation (NASDAQ: ROVI) has seen at least three downgrades: Collins Stewart, CLSA, Brean Murray.
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) named Momentum stock of the day at Zacks.
Textainer Group Holdings Limited (NYSE: TGH) named Value stock of the day at Zacks.
Walgreen Co. (NYSE: WAG) Cut to Neutral at Credit Suisse.
The Washington Post Co. (NYSE: WPO) named Bull of the Day at Zacks.

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JON C. OGG

Sony claims that these glasses can cost studios $5 to $10 million per blockbuster release.  The move is expected to come on May 1, 2012, right before the summer film rush that usually has many 3D movie options.  MIB III and another Spider Man are coming in 2012.

What is amazing is that it was just yesterday that Merriman Capital outlined buyout speculation regarding RealD.  Talk about bad timing.  

The report in question from Tuesday also notes that exhibitors (theaters) are not going to react well (duh!) and it also noted that many other studios are likely considering a similar move.  The estimate is that these glasses can cost up to $0.50 per film.

News Corp. (NASDAQ: NWS) has reportedly tried to pass this cost on to exhibitors but that was fought hard.  With Avatar, that could have been one major cost.  And what about the on-again off-again reports of the Star Wars episode(s) being recut for 3D? 

IMAX Corporation (NASDAQ: IMAX) also runs many of the popular blockbuster 3-D films.  Regal Entertainment Group (NYSE: RGC) is down over 3% at $12.28.  Cinemark Holdings Inc. (NYSE: CNK) us down 2% at $19.32.

Oddly enough, DreamWorks Animation SKG Inc. (NYSE: DWA) is up 0.4% today at $19.53.

RealD Inc. (NYSE: RLD) is down 15% at $10.38 today and shares appear to have hit a new post-IPO low of $8.89 earlier this morning as the panic grew that 3D films might be taking a hit.  Unfortunately for RealD, its entire business model revolves around the proliferation of 3D films.  Live by the sword, die by the sword.

As a reminder, there is no assurance that this move will actually stick.  Some international markets already charge for this.

JON C. OGG

Amazon.com’s (NASDAQ: AMZN) new tablet PC may be a serious challenge to the Apple (NASDAQ: AAPL) iPad. (Reuters)

Boeing’s (NYSE: BA) Dreamliner finally delivered to its first customer. (Reuters)

Legal problems to affect sales of tablet PCs and chips. (Reuters)

The timing of Groupon’s IPO is now uncertain. (WSJ)

UBS (NYSE: UBS) CEO Oswald Grübel’s resignation to cause problems as the firm tries to restructure its investment bank. (WSJ)

Academy of Management Journal says CEOs who are overpaid when they step down remain overpaid later. (WSJ)

Apple’s growth in China slows considerably. (WSJ)

European officials still cannot reach consensus about the region’s troubles. (WSJ)

China says it will not help a EU bailout. (WSJ)

Social unrest begins to grow in China due to inflation and struggles by workers for higher wages. (WSJ)

Chrysler’s talks with the UAW on minimum wages for new workers have stalled as the union begins talks with Ford (NYSE: F). (WSJ)

Todd Bradley, head of the Hewlett-Packard (NYSE: HPQ) PC division, still does not know the fate of his unit. (WSJ)

A rising dollar could hurt U.S. economic growth. (WSJ)

Several oil and gas companies prepare IPOs. (WSJ)

Netflix (NASDAQ: NFLX) sets a deal to stream DreamWorks (NASDAQ: DWA) movies, besting Time Warner’s (NYSE: TWX) HBO. (NYT)

The Project for Excellence in Journalism finds that many consumers look to local newspapers and TV stations for some critical information. The Pew Internet & American Life Project also worked on the study. (NYT)

Work by the Congressional Super Committee to reduce the deficit has slowed quickly. (NYT)

Gold prices hurt as investors move into cash. (FT)

U.S. tax authorities to look to cross-board bank transactions for money. (FT)

Procter & Gamble (NYSE: PG) cuts some top management jobs. (FT)

Large U.S. and international banks, including Goldman Sachs (NYSE: GS), JPMorgan (NYSE: JPM) and Morgan Stanley (NYSE: MS), differed on how to address the EU crisis as they met on the subject last week. (Bloomberg)

Apple cuts orders for the iPad for the fourth quarter, according to suppliers. (Bloomberg)

PIMCO forecasts a recession in Europe next year. (Bloomberg)

Douglas A. McIntyre

Aeropostale, Inc. (NYSE: ARO) Raised to Hold at Jefferies.
Agrium Inc. (NYSE: AGU) Reiterated Buy as Value at Zacks.
Allergan Inc. (NYSE: AGN) Raised to Outperform at Credit Suisse.
American International Group, Inc. (NYSE: AIG) Cut to Underperform as Bear of the Day at Zacks.
CIGNA Corporation (NYSE: CI) Maintained Outperform as Bull of the Day at Zacks.
DIRECTV (NASDAQ: DTV) Cut to Neutral at BofA/ML.
Dish Network Corp. (NASDAQ: DISH) Cut to Underperform at BofA/ML.
DreamWorks Animation SKG Inc. (NASDAQ: DWA) Cut to Neutral at BofA/ML.
GLG Life Tech Corporation (NASDAQ: GLGL) maintained Buy but cut estimates and target to $7.50 at Canaccord Genuity.
Motorola Mobility Holdings Inc. (NYSE: MMI) Cut to Sell at Argus; Cut to Underperform at Raymond James; Cut to Neutral at Goldman Sachs; Raised to Market Perform at BMO.
Research-in-Motion Ltd. (NASDAQ: RIMM) Cut to Sell at Societe Generale.
Riverbed Technology, Inc. (NASDAQ: RVBD) Raised to Buy at SunTrust Robinson Humphrey.
Sky-mobi Limited (NASDAQ: MOBI) Cut to Hold at Citigroup.
Sprint Nextel Corporation (NYSE: S) Raised to Buy at Collins Stewart.
Transocean Ltd. (RIG : NYSE) maintained HOLD but raised target to $69 at Canaccord Genuity.
VMware Inc. (NYSE: VMW) Raised to Overweight at Barclays.
Walt Disney Co. (NYSE: DIS) Cut to Neutral at BofA/ML.

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JON C. OGG

Many events are ongoing and some are carryover events to consider, and we have added color on each if applicable.  On a separate note, we did compile what is a detailed preview of the top earnings this coming week as well as the top ten analyst calls of this last week.

Advanced Micro Devices, Inc. (NYSE: AMD) was one of the top gainers on Friday after it reported positive earnings.  The 19%+ gain to $7.75 puts it back in the middle of its 52-week trading range of $5.53 to $9.58. The 85+ million shares traded appears to be the biggest one-day share volume back to November of 2009.  Forbes is calling for a run to $10 even with its CEO overhang issues.

BankUnited, Inc. (NYSE: BKU) has been public for just about six-months and its IPO lock-up period from insiders and 10% owners is set to end this week. At $25.61, its post-IPO range is $24.88 to $29.90.

Books-A-Million Inc. (NASDAQ: BAMM) may have thin trading volume and may only be worth $53 million in market capitalization, but we believe that this small cap offers a stealthy road to winning from the Borders bankruptcy liquidation.  We featured this as the stealth winner, and for some reason the shares were up 10% on Friday ahead of a Bizjournals.com report that the company submitted bids for 30 of the Borders locations.

Bridgepoint Education, Inc. (NYSE: BPI) took it on the chin after the close on Friday with a drop of about 6%. The company filed with the SEC to register the resale of 34,589,220 shares of common stock held by Warburg Pincus Private Equity VIII, L.P.  The company has about $1.6 billion in market cap, but at the $30.50 price that comes to a combined share sale of $1.037 billion before the effects of the sell-off.  Can you say dilution to the free float?

CA Inc. (NASDAQ: CA) is slated to have an investor meeting this coming Friday.  With shares trading around $22.60, let’s just go even deeper on record noting that this one has been dead money for about 7 years or so whether it has a $11.5 billion market cap or not.

Clean Harbors, Inc. (NYSE: CLH) is set to trade ex-split on July 27 to reflect its 2-for-1 split.  The stock trades north of $112 and shares hit a high of $114.09 on this last Thursday.  This stock is up about 50-fold in the last ten years and it looks like it is the first split for the $3 billion environmental remediation outfit.

DreamWorks Animation SKG Inc. (NASDAQ: DWA) is in discussions over a streaming movie video rights deal with Netflix.  The move could open up its distribution even more and at $21.05 it is at the bottom of a 52-week range of $19.76 to $37.74.

Adobe Systems Incorporated (NASDAQ: ADBE) is so far not moving much but it may be very active today at at its annual analyst meeting.  the company is targeting 10% revenue growth in fiscal year 2011 and gave an intra-quarter business update within the range of its prior guidance: revenue of $950 million to $1 billion, non-GAAP diluted earnings per share of $0.48 to $0.54 and a non-GAAP operating margin of 37-38%.

Broadcom Corporation (NASDAQ: BRCM) is doing even better this morning after it beat earnings, announced that it was paying about $86 million to buy Percello Ltd. for its a system on chip (SoC) design targeting femtocells, and announced that it was going to raise $600 million in debt.  The stock was up 5.5% at $39.28 after the close in after-hours trading on last look, but this morning is showing a gain of 10.5% at $41.15 on over 500,000 shares.  This marks a 52-week high as the range was $25.76 to $38.47 before today.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) fell after it beat earnings but same store sales fell rather than gained.  The wings and beer (and more) chain was down almost 6% at $45.65 on last look last night and the stock is down 6.5% at $45.40 in pre-market trading.

Dreamworks Animation SKG, Inc. (NASDAQ: DWA) rose after earnings beat estimates handily.  Shares were up almost 5% at $36.00 on last look last night, but the stock is up 7.7% at $37.00 this morning versus a 52-week range of $26.61 to $44.77.

Equinix, Inc. (NASDAQ: EQIX) rose in after-hours after reporting positive earnings.  Shares were up as much as 6.4% at $81.50 last night, but the stock is up about 5.2% at $80.55 on thin volume this morning.

F5 Networks, Inc. (NASDAQ: FFIV) looks more like high-five after beating earnings and guidance are helping a surge.   Shares are up 10% at $112.80 on nearly 200,000 shares this morning.  This may be a 52-week high if it holds as the trading range of the last year is $43.50 to $112.05.

GTx, Inc. (NASDAQ: GTXI) is lower again on a proposed secondary stock offering.  Shares were down 10% at $2.87 in after-hours trading, and the stock is still down 10.6% at $2.85 on over 60,000 shares pre-market.  An average day is only about 90,000 shares.

JDA Software Group, Inc. (NASDAQ: JDAS) rose after earnings on thin trading volume last night and this morning. The after-hours gain was about 8% at $23.95 after having been north of $24.00 briefly last night, but the gain this morning appears to be closer to 14% at $25.25.

McKesson Corporation (NYSE: MCK) looked a tad light on the earnings, but it maintained its fiscal year targets and set a $1 billion stock buyback plan.  Shares were up almost 7% at $66.15 on last look this morning.

Panera Bread Co. (NASDAQ: PNRA) fell after the food chain basically met estimates.  Shares were down 4.6% at $89.95 in the after-hours session on last look last night and the move this morning has shares down 5.2% at $89.43 on thin volume.

Silicon Image, Inc. (NASDAQ: SIMG) beat earnings and raised guidance last night.  Shares were up 25% at $5.70 in the after-hours trading and the stock is now up even a bit more as the gain is shown as 30% at $5.95 on nearly 300,000 shares pre-market.

Sprint Nextel Corp. (NYSE: S) reported a slightly wider loss than expected, and shares are getting hit.  Shares are down 4.25 at $4.57 and there has already been more than 11 million shares traded this morning with almost an hour left before the open.

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JON C. OGG

Broadcom Corporation (NASDAQ: BRCM) beat earnings, announced that it was paying about $86 million to buy Percello Ltd. for its a system on chip (SoC) design targeting femtocells, and announced that it was going to raise $600 million in debt.  Shares closed down 0.77% at $37.33 but the stock was up 5.5% at $39.28 after the close in after-hours trading on more than 700,000 shares.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) beat earnings but said that its initial Q4 same store sales fell rather than gained.  The wings and beer (and more) chain was down almost 6% at $45.65 on about 150,000 shares after the close.

Dreamworks Animation SKG, Inc. (NASDAQ: DWA) rose after earnings were carried higher by Shrek.  Shares were up almost 5% at $36.00 on more than 100,000 shares after the close.

Equinix, Inc. (NASDAQ: EQIX) was up 2.45 to $76.59 today but shares rose in after-hours too  after reporting positive earnings.  Shares were up as much as 6.4% at $81.50 on more than 500,000 shares but teh stock was up 5% at $80.45 on last look.

GTx, Inc. (NASDAQ: GTXI) closed down 4% on its own, and share are lower again on a proposed secondary stock offering.  Shares were down 10% at $2.87 in after-hours trading.

JDA Software Group, Inc. (NASDAQ: JDAS) rose after earnings, but on thin trading volume.  Shares closed down almost 1% but the after-hours shows a gain of 8% at $23.95 after having been north of $24.00 briefly.

Panera Bread Co. (NASDAQ: PNRA) basically met estimates, and shares sold off as a result.  Shares closed up 0.1% at $94.35 but the stock is down 4.6% at $89.95 in the after-hours session.

RF Micro Devices, Inc. (NASDAQ: RFMD) is trading higher after beating earnings expectations and seeing next quarter in line with this quarter; shares are up 3.7% at $6.61 in the after-hours session, recapturing its 3.6% loss today.

Silicon Image, Inc. (NASDAQ: SIMG) was halted briefly after beating earnings and raising guidance.  Shares were up almost 1% in regular trading but are up 25% at $5.70 in the after-hours trading on more than 175,000 shares since the 4PM bell..

Apple Inc. (NASDAQ: AAPL) is not an after-hours mover today.  The reason it is included here is because of the continued unusual trading volume listed in the weekly and monthly options trading that took place during the trading day in speculative out of the money puts and calls.

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JON C. OGG

Cablevision Systems Corporation (NYSE: CVC) Started as Overweight at JPMorgan.
Dr. Pepper Snapple Group, Inc. (NYSE: DPS) Cut to Neutral at UBS.
Diodes, Inc. (NASDAQ: DIOD) Cut to Hold at Collins Stewart.
Domtar Corporation (NYSE: UFS) Maintained Buy but Removed from Conviction Buy List at Goldman Sachs.
Dreamworks Animation SKG (NASDAQ: DWA) Raised to Buy at Stifel Nicolaus.
Edwards Lifesciences Corp. (NYSE: EW) Cut to Neutral from Conviction Buy List at Goldman Sachs.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) Started as Outperform at Oppenheimer.
Lululemon Athletica (NASDAQ: LULU) Started as Neutral at Baird.
Monster Worldwide Inc. (NYSE: MWW) Raised to Outperform at Oppenheimer.
ON Semiconductor Corp. (NASDAQ: ONNN) Cut to Hold at Collins Stewart.

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JON C. OGG