EZchip Semiconductor Ltd. (NASDAQ: EZCH) is down 5% on a secondary offering.

FGX International Holdings Limited (NASDAQ: FGXI) is up almost 9% on a low-premium buyout.

Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN) looks like the biggest gainer this morning as traders chase small cap and low-priced biotechs.

GigaMedia Ltd. (NASDAQ: GIGM) is up 10% on a gaming pact in Europe.

Charles Schwab (NASDAQ: SCHW) is up 2% on the Deutesche Bank upgrade.

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JON C. OGG

• Biovail (NYSE: BVF) cut to Sector Perform at CIBC.
• Cerner (NASDAQ: CERN) raised to Buy at Jefferies.
• GigaMedia (NASDAQ: GIGM) started as Nuy at Brean Murray.
• iRobot (NASDAQ: IRBT) raised to Buy at Kaufman.
• Medco Health (NYSE: MHS) raised to Outperform at Oppenheimer.
• Meredith (NYSE: MDP) cut to Hold at Citigroup.
• Smith International (NYSE: SII) raised to Overweight at JPMorgan; also cut to Perform at Oppenheimer.
• Steel Dynamics (NASDAQ: STLD) cut to Hold at Citigroup.
• SunTrust Banks (NYSE: STI) raised to Market Perform at KBW.
• Triad Hospitals (NYSE: TRI) started as Overweight at JPMorgan.

Jon C. Ogg
April 23, 2008

• Applied Materials (AMAT) reports earnings after close; estimates are $0.29 EPS & R$2.38B.
• BEA Systems (BEAS) said it expects to submit SEC filings tomorrow to regain compliance.
• Canadian Solar (CSIQ) trading up over 25% after beating earnings and raising guidance.
• CDC Corp. (CHINA) announced that its CDC Software expects record revenues this quarter.
• E*Trade (ETFC) trading up another 3% pre-market.
• GigaMedia (GIGM) $0.17 EPS vs $0.14 est.
• HSBC Holdings plc (HBC) taking a $3.4 Billion charge on bad loans in U.S.
• Meridian BioScience (VIVO) $0.16 EPS vs $0.15 est.
• MetroPCS (PCS) $0.15 EPS vs $0.13 est.
• Northstar Neuroscience (NSTR) now expects to unblind EVEREST data and announce primary endpoint results in Jan-2008 and submit PMA early in Q2-2008; for stroke motor recovery and its planned PMA submission; after FDA communications.
• Pepsico (PEP) reaffirmed guidance of $3.39 EPS for 2007 and cash flows of $7 Billion.
• Qualcomm (QCOM) hosts its analyst day, Dutch court dismissed one of Nokia’s patent claims against Qualcomm; announced acquisition of Firethorn for mobile banking.
• Rigel Pharms (RIGL) said that Merck-Serono exercised an option to R763/AS703569 and Aurora Kinase inhibitors in Japan.
• Rockwell Collins (COL) increased its buyback plan by $300 million.
• Taser (TASR) reported 3 large orders that will ship this quarter.

Jon C. Ogg
November 14, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Cryptologic (NASDAQ:CRYP) is sort of the pure-play  stock that traders would look at that trades in the U.S., although the former Canadian company moved overseas closer to its European client-base.
Taiwan’s online gaming software company that traders look to is GigaMedia Ltd. (NASDAQ:GIGM).
YouBet.com (NASDAQ:UBET) is one such company, although it too has had issues in the past.

The Poker Players Alliance is petitioning Capitol Hill this week to repeal part of the ban on online gambling, or at least for online poker.  The alliance apparently represents 800,000 poker enthusiasts and is looking to get poker put in the same exemptions as online horse racing, lotteries, and fantasy sports.  This follows a move by Congressman Barney Frank which we covered earlier this year, and his efforts are apparently gathering more support.

Interestingly enough, playing poker online is still done regularly and legally.  But processing payments is the illegal part for U.S. citizens, and the laws currently allow the government to go after financial institutions that facilitate such payments if they process online gambling payments for U.S. citizens.

In the U.K., stocks like PartyGaming Plc and 888 Holdings Plc are two of the online gambling companies that would benefit from a repeal in online gambling for poker.

It is probably far too soon to make bets, no pun intended, on how this turns out.  Even if the puritanical ban ends up getting repealed, it is not something that will happen overnight.

Jon C. Ogg
October 23, 2007

Perhaps the most extraordinary in huge China Petroleum (SNP) up 11% to an all-time high of $145.68.

Also on the hit list:

City Telecom HK (CTEL) is up 84% on no visible news to over $10 and an all-time high.

New Dragon Asia (NWD) traded on the AMEX, up 39% to $1.88.

LJ International (JADE) May be deliquent in filings but up 41% to $6.80.

Agrifeed (FEED) is up another 30% to $15.60.

GigaMedia (GIGM) Taiwan-based, upgraded by Bear Stearns, trading up 11% to $20, a 52-week high.

New Oriental Energy (NOEC) is up 12% to over $10, a 52-week high.

Origin Agritech (SEED) is rising 12% to over $14.

JA Solar (JASO) up 9% to $47.

Watch for a correction. It’s on the way.

Douglas A. McIntyre