The unofficial closing bells put the DJIA up nearly 70 points to 12,462.47 (0.56%), the NASDAQ rose nearly 26 points (0.97%) to 2,702.50, and the S&P 500 rose 0.89% or more than 11 points to 1,292.08.

There were several analyst upgrades and downgrades today, including Intel Corp. (NASDAQ: INTC) maintained as ‘top tech/semiconductor’ pick at Credit Suisse; Netflix Inc. (NASDAQ: NFLX) cut from ‘neutral’ to ‘underperform’ at BofA/ML; Starbucks Corp. (NASDAQ: SBUX) reiterated as ‘buy’ and estimates raised at Argus; The Walt Disney Co. (NYSE: DIS) cut to ‘equal-weight’ at Barclays; and Macy’s Inc. (NYSE: M) reiterated as ‘outperform’ and price target raised from $32 to $36 at Credit Suisse.

Earnings reports of note since markets closed yesterday include: Alcoa is up 0.27% at $9.45; Emulex Corp. (NYSE: ELX) is up more than 13% at $8.38; and BSD Medical Corp. (NASDAQ: BSDM) is down more than -7% at $2.09. After markets close today Synnex Corp. (NYSE: SNX) reports earnings and tomorrow’s earnings schedule includes Lennar Corp. (NYSE: LEN) and Supervalu Inc. (NYSE: SVU).

Other standouts from today include the following stocks:

WebMD Health Corp. (NASDAQ: WBMD) is down more than -28% at $26.41, after posting a new 52-week low of $25.01 earlier today. The web-based healthcare company’s CEO resigned, the search for an acquirer was terminated, and the revenue outlook for 2012 was lowered.

Complete Genomics Inc. (NASDAQ: GNOM) is down nearly -26% at $2.88. The biotechnology company shipped fewer genomes than expected in the fourth quarter.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up more than 25% at $12.10, a new 52-week high. The drug maker continues to bask in the reflected glow of yesterday’s takeover of Inhibitex Inc. (NASDAQ: INHX) by Bristol Myers Squibb (NYSE: BMY).

Tiffany & Co. (NYSE: TIF) is down more than -10% at $59.97. The company reported weak earnings and a lower forecast this morning.

Liz Claiborne Inc. (NYSE: LIZ) is down more than -13% at $8.63. The clothing company’s CFO resigned and the company lowered 2012 revenue estimates.

Stay tuned for Wednesday. Chicago Fed President Charles Evans, Atlanta Fed President Dennis Lockhart, and Philadelphia Fed President Charles Plosser are giving speeches. Here are the noteworthy events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 10:30 a.m. – EIA weekly petroleum status report
• 1:00 p.m. – 10-year Treasury note auction
• 2:00 p.m. – Federal Reserve Beige Book released

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The unofficial closing bells put the DJIA up nearly 33 points to 12,392.54 (0.26%), the NASDAQ rose more than 2 points (0.09%) to 2,676.56, and the S&P 500 rose 0.23% or nearly 3 points to 1,280.70.

There were several analyst upgrades and downgrades today, including Costco Wholesale Corp. (NASDAQ: COST) cut to ‘underperform’ at Bernstein; Exxon Mobil Corp. (NYSE: XOM) reiterated as ‘buy’ at Goldman Sachs; Akamai Technologies Inc. (NASDAQ: AKAM) cut to ‘sell’ from ‘neutral’ at Citigroup; Pandora Media Inc. (NYSE: P) started as ‘buy’ at Needham; Southern Copper Co. (NYSE: SCCO) cut to ‘hold’ at Deutsche Bank; and Merck & Co. Inc. (NYSE: MRK) downgraded to ‘hold’ at Jefferies.

Earnings reports of note since markets closed Friday include: Acuity Brands Inc. (NYSE: AYI) is up nearly 9% at $54.79; and Cubist Pharmaceuticals Inc. (NASDAQ: CBST) is down -0.55% at $39.95. After markets close today bellwether Alcoa Inc. (NYSE: AA) is expected to report an EPS loss of -$0.02.

Other standouts from today include the following stocks:

Inhibitex Inc. (NASDAQ: INHX) is up more than 140% at $23.70 after posting a new 52-week high of $24.08 earlier today. The drug company has agreed to be acquired by Bristol Myers Squibb (NYSE: BMY) for $2.5 billion ($26/share in cash).

Pansoft Co. Ltd. (NASDAQ: PSOF) is up nearly 56% at $3.13. The Chinese enterprise software company received a buyout offer from Timesway Group Ltd, which is controlled by Pansoft’s chairman, for $3.76/share for the shares Timesway does not already own.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up more than 36% at $9.59 after posting a new 52-week high of $10.39 earlier today. The drug maker’s hepatitis C drug got a postive report on an interim drug trial, the same categoy of drug made by Inhibitex. More coverage here.

Netflix Inc. (NASDAQ: NFLX) is up more than 14% at $98.62. The video rental and streaming company launched its streaming service in the UK and Ireland today. We have more coverage here.

Theravance Inc. (NASDAQ: THRX) is down more than -19% at $16.27. The biopharmaceutical firm reported that a new drug to treat asthma and other pulmonary diseases performed no better than an existing drug in a clinical trial.

Lantronix Inc. (NASDAQ: LTRX) is up more than 28% at $2.95. The networking products maker launched new wireless printing products aimed at devices that use the iOS operating system software from Apple Inc. (NASDAQ: AAPL).

Stay tuned for Tuesday. San Francisco Fed President John Williams and Kansas City Fed President Esther George are giving speeches. Here are the noteworthy events on the schedule (all times Eastern):

• 7:30 a.m. – NFIB small business optimism index
• 11:30 a.m. – 4- and 52-week Treasury bill auctions
• 1:00 p.m. – 3-year Treasury note auction

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Adtran Inc. (NASDAQ: ADTN) Reiterated Buy with $49 target at Argus.
BioMed Realty (NYSE: BMR) Raised to Buy at Jefferies.
Capital One Financial Corporation (NYSE: COF) Reiterated Sell at Argus.
Central European Media Enterprises Ltd. (NASDAQ: CETV) Started as Underperform at Credit Suisse.
Electronic Arts Inc. (NASDAQ: ERTS) Reiterated Hold at Argus.
El Paso Pipeline Partners, L.P. (NYSE: EPB) Started as Outperform at Credit Suisse.
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) Started as Neutral at Credit Suisse.
Lloyds Banking Group plc (NYSE: LYG) Raised to Buy at Goldman Sachs.
3M Co. (NYSE: MMM) Cut to Underperform at BofA/ML.
Netgear Inc. (NASDAQ: NTGR) Cut to Equal-Weight at Barclays.
ProLogis (NYSE: PLD) Cut to Underperform at Jefferies.
Protective Life Corp. (NYSE: PL) Raised to Buy at BofA/ML.
Stillwater Mining Co. (NYSE: SWC) Cut to Neutral at JPMorgan.
Toll Brothers Inc. (NYSE: TOL) Raised to Buy at Goldman Sachs.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) Cut to Neutral at JPMorgan.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Started as Underperform at Credit Suisse.
Williams-Sonoma Inc. (NYSE: WSM) Raised to Buy at Goldman Sachs.

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JON C. OGG

Anadarko Petroleum Corp. (NYSE: APC) Reiterated Hold at Argus.
Carefusion Corporation (NYSE: CFN) Cut to Neutral but kept $30 target at BofA/ML.
Chicago Bridge & Iron (NYSE: CBI) Raised to Outperform at Credit Suisse.
Columbia Sportswear Company (NASDAQ: COLM) Raised to Buy at BofA/ML.
DryShips, Inc. (NYSE: DRYS) named as Bear of the Day at Zacks.
Energizer Holdings Inc. (NYSE: ENR) Cut to Neutral at UBS.
Honda Motor Co., Ltd. (NYSE: HMC) Cut to Sell at Citigroup.
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) Raised to Buy at BofA/ML.
Jack In The Box. Inc. (NASDAQ: JACK) Cut to Underperform at Credit Suisse.
Magellan Health Services, Inc. (NASDAQ: MGLN) Started as Underperform and $50 target at BofA/ML.
Monsanto Co. (NYSE: MON) Raised to Buy at Deutsche Bank.
National Semiconductor Corporation (NYSE: NSM) Cut to Hold at Deutsche Bank; Cut to Neutral at Gleacher.
Novo Nordisk (NYSE: NVO) Raised to Overweight at JPMorgan.
SPX Corporation (NYSE: SPW) Started as Outperform with $100 target at Credit Suisse.
Toyota Motor Corporation (NYSE: TM) Cut to Sell at Citigroup.
V.F. Corporation (NYSE: VFC) named as Bull of the Day at Zacks. 

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JON C. OGG

Idenix Pharmaceuticals (NASDAQ: IDIX) off 47% to $3.17 based on an announcement that the company received verbal notice on Friday, September 3, 2010 from the U.S. Food and Drug Administration that the IDX184 and IDX320 programs have been placed on clinical hold.

GT Solar International (NASDAQ: SOLR) is down 10% to $7.87 after disclosing that it would have a secondary offering of 10,000,000 shares of its common stock by one selling stockholder.

Nautilus (NYSE: NLS) is higher by 8% to $1.41 after it announced that it raised $5 million from a debt sale to its largest shareholder–Sherborne Investors GP .

Douglas A. McIntyre

Oracle Corporation (NASDAQ: ORCL) is trading up 7.7% at $24.70 on more than 2 million shares after hiring Mark Hurd as co-president now that he is out of Hewlett-Packard Company (NYSE: HPQ).  HP shares are indicated down nearly 1%… If anyone can give Oracle a leg up for free over equipment in competing against HP, it is Mark Hurd.

Casey’s General Stores Inc. (NASDAQ: CASY) is trading higher this morning after earnings and after recommending holder NOT tender their shares.  The company said something about a $45 book value.  Shares are up 6.7% at $41.51 at a new 52-week high above the prior $39.56 high.

China Sky One Medical, Inc. (NASDAQ: CSKI) is getting crushed after lowering guidance after distributor partner dropped a pact over disclosing its business practices in filings.  Shares are down 28% at $6.96, a 52-week low under the prior $8.82.

Green Dot Corporation (NYSE: GDOT) is trading up 2.3% around $51.00 now that its quiet period ended.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is down almost by half after putting its Hep-C drug on clinical hold over safety issues.  Shares are down a whopping 47% at $3.15 on over 50,000 shares.

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JON C. OGG

We have provided news updates, added color where applicable, shown the price moves with volume and comparative data on each.

AEterna Zentaris (NASDAQ: AEZS) may be hard to pronounce, but shares are up after it said the European Medicines Agency assured the acceptability of its Phase III programs for its lead anti-cancer drug, perifosine.  This is for the treatment of multiple myeloma and refractory advanced colorectal cancer.  Shares are up 15% at $1.59 on well over 9 million shares; average volume is only about 750K and the 52-week range is $0.75 to $3.25.

Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) is up after showing 72% of patients receiving ANA598 in a phase II combination study with interferon and Ribavirin achieved undetectable levels of virus at week eight.  Shares are up 8.6% at $2.84, but shares had been up as high as $3.24 today.  Mid-day volume is 11 million shares versus only about 500K on average, and the 52-week range is $1.44 to $6.45.

Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) is down 8.5% at $2.98, but shares had been as high as $3.20 and the 52-week range is $1.10 to $3.89.  The news is that the company is presenting data from studies of ACH-1625 in Hepatitis C at the EASL International Liver Congress that shows a significant reduction in HCV RNA.

Akorn Inc. (NASDAQ: AKRX) is up after it received FDA clearance to market a generic version of the painkiller Dilaudid-HP, and it plans to start shipping the product next month.   Shares are up over 15% at $1.64 on about 1.7 million shares.  The 52-week range is $0.73 to $2.00 and the average volume is only about 206,000 shares.

Dynavax Technologies Corporation (NASDAQ: DVAX) is up oh hepatitis news as well, after it showed that its chronic kidney disease study confirms that HEPLISAV offers  enhanced seroprotection against HBV infection.  Shares had been up over 16% earlier on the news.  In early-afternoon trading the stock is up over 8% at $1.57 on 3.9 million shares (over 10-times normal volume).

Genzyme Corp. (NASDAQ: GENZ) is fighting Carl Icahn via another activist…. Genzyme and Relational Investors LLC have amended their mutual cooperation agreement and Ralph Whitworth, principal and co-founder of Relational, has been elected to Genzyme’s board of directors, effective immediately, and he will chair a new Strategic Planning and Capital Allocation Committee.  Genzyme is up a mere 0.25% at $52.79.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is also up on hepatitis news after it reported positive results on its IDX184 in interim analysis of a Phase IIa hepatitis C study.  The shares were up over 16% earlier today, but the stock is up 8.6% at $4.43 on 1.5 million shares now.

Molecular Insight Pharmaceuticals (NASDAQ: MIPI) has another give-back after a large move up this week.  Today’s drop is after the stock was downgraded to “Market Perform from Outperform” at Wells Fargo.  Shares are down 7% more at $2.67, but only on about 700,000 shares.  Keep in mind that ‘my-pie’ was only at $1.50 on Monday and traded as high as $4.49 on Tuesday.

Repros Therapeutics Inc. (NASDAQ: RPRX) is down today on exchange related news.  It said it now has enough stockholders’ equity for NASDAQ compliance, and it has until June 14, 2010 to meet the NASDAQ minimum $1.00 rule.  Shares are down 7.8% at $0.73 on just over 1.5 million shares.

Santarus Inc. (NASDAQ: SNTS) was down in half last night after the U.S. District Court for the District of Delaware ruled that five patents covering ZEGERID® prescription products are invalid due to obviousness (indicated for the treatment of certain upper GI diseases and disorders).  Shares are down 32% at $3.64 on over 10 million shares.

Warner Chilcott PLC (NASDAQ: WCRX) may still be on the way to being the next best drug stock out there.  Shares were up on positive UBS comments yesterday and IBD said its chart was #66 but third best in class today.  Shares were up another 3.2% at $27.69 and the highest level since March 8, 2010.

JON C. OGG

Dynavax Technologies Corporation (NASDAQ: DVAX) is up 16.5% on positive drug study news.

Mariner Energy, Inc. (NYSE: ME) is up almost 40% at $25.10 on well over 4 million shares.  Apache is paying some $2.7 billion or $26.22 per share to acquire it in terms of 0.17043 shares of Apache common stock and $7.80 in cash.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up 16.5% at $4.75 on over 300,000 shares after it reported positive results on its IDX184 in interim analysis of a Phase IIa hepatitis C study.

MGM Mirage (NYSE: MGM) is weighing down casinos on a disappointment. Wynn Resorts Ltd. (NASDAQ: WYNN) and Las Vegas Sands Corp. (NYSE: LVS) are taking breathers too after having seen such large run-ups.

Santarus Inc. (NASDAQ: SNTS) is the worst stock this morning after losing a patent case.

United Parcel Service, Inc. (NYSE: UPS) is hitting new 52-week highs after handily beating earnings expectations last night.  Shares are now up 4.6% at $68.46 versus a prior 52-week high of $65.52.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), and OXiGENE, Inc. (NASDAQ: OXGN) have all filed this week with the SEC for the resale of securities by secondary offering and private placement buyers in recent weeks.

You can read the full story with details on each offering over at BioHealthInvestor.com.

And imagine this… it is only Wednesday.

-The 24/7 Wall St. Team

Alkermes Inc. (Nasdaq: ALKS) shares are ones to watch for volume upside following positive study results that may also affect shares of Eli Lilly & Co. (NYSE: LLY) and Sanofi Aventis (NYSE: SNY).

Merck & Co. (NYSE: MRK) shares are up over 3% after it beat EPS by 6 cents a share and reaffirmed fiscal 2009 guidance.

Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) shares are rising in premarket trade after getting FDA fast-track status for a bladder cancer candidate.

Lexmark International Group Inc. (NYSE: LXK) shares are ones to watch for volume downside after it missed expectations by 5 cents a share and guided Q3 EPS lower.

JDA Software Group Inc. (Nasdaq: JDAS) are ones to watch for volume upside after it posted  a 17-cent a share EPS beat.

Idenix Pharmaceuticals Inc. (Nasdaq: IDIX) shares are ones to watch for volume downside after it missed EPS expectations by 3 cents a share.

Packaging Corp. of America (NYSE: PKG) shares are ones to watch for volume upside following a 12-cent EPS beat.

Boston Scientific (NYSE: BSX) is up strongly in early premarket trade on stronger-than-expected earnings.

CVB Financial Corp. (Nasdaq: CVBF) shares are ones to watch for downside after it announced a stock offering.

Werner Enterprises Inc. (Nasdaq: WERN) are ones to watch for volume downside on concerns about a revenue miss.

-The 24/7 Wall St. Team