The unofficial closing bells put the DJIA up more than 83 points to 12,716.31 (0.66%), the NASDAQ rose more than 34 points (1.22%) to 2,848.27, and the S&P 500 rose 0.89% or nearly 12 points to 1,324.08.

There were several analyst upgrades and downgrades today, including Citigroup Inc. (NYSE: C) raised to ‘outperform’ at Wells Fargo; Newmont Mining Corp. (NYSE: NEM) cut to ‘hold’ at Stifel Nicolaus; Seagate Technology PLC (NASDAQ: STX) raised to ‘buy’ at Stifel Nicolaus; Exxon Mobil Corp. (NYSE: XOM) cut to ‘hold’ at Argus (see our coverage here); and Monster Worldwide Inc. (NYSE: MWW) cut to ‘perform at Oppenheimer. Amazon.com (NASDAQ: AMZN) had three ratings changes today: maintained as ‘neutral’ with target price cut to $190 at Credit Suisse; maintained ‘outperform’ but estimates cut at Baird; and target price lowered to $225 at Jefferies.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Amazon.com is down -8.2% at $178.51; Broadcom Corp. (NASDAQ: BRCM) is up 8.24% at $37.18; Aetna Inc. (NYSE: AET) is up 3.3% at $45.13; Corinthian Colleges Inc. (NASDAQ: COCO) is up nearly 34% at $4.05; Enterprise Products Partners L.P. (NYSE: EPD) is up 3.8% at $50.13, after posting a new 52-week high of $50.35 earlier today; Manpower Inc. (NYSE: MAN) is up nearly 14% at $45.70; Marathon Petroleum Corp. (NYSE: MPC) is up nearly 10% at $41.98; Northrup Grumman Corp. (NYSE: NOC) is up 2.22% at $59.34; and Whirlpool Corp. (NYSE: WHR) is up 14% at $61.93.

Other standouts from today include the following stocks:

Key Tronic Corp. (NASDAQ: KTCC) is up nearly 37% at $8.53, after posting a new 52-week high of $8.74 earlier today. The computer peripherals maker posted better-than-expected earnings and revenues after markets closed last night.

Sangamo BioSciences Inc. (NASDAQ: SGMO) is up more than 21% at $4.19. The pharmaceutical maker has announced a collaboration with Shire plc (NASDAQ: SHPGY) to develop a hemophilia treatment.

Medivation Inc. (NASDAQ: MDVN) is up more than 21% at $67.26, after posting a new 52-week high of $70.87 earlier today. The development stage drug maker has reported highly positive results on a test of its late-stage prostate cancer treatment. We have more coverage here.

JDA Software Group Inc. (NASDAQ: JDAS) is down more than -17% at $24.39. The software maker issued a fairly weak quarterly report and continuing investor wariness remains over an SEC investigation of the company’s accounting practices.

IXYS Corp. (NASDAQ: IXYS) is down more than 14% at $11.76. The integrated circuit maker posted poor quarterly numbers after markets closed last night.

Stay tuned for Thursday. Federal Reserve chairman Ben Bernanke is speaking at 10:00 a.m. and Dallas Fed president Richard Fisher is speaking in the evening. We have noted the following events on the schedule (all times Eastern):

• 7:30 a.m. – Challenger Job-cut data
• 8:30 a.m. – New claims for unemployment benefits
• 10:30 a.m. – EIA weekly natural gas storage report
• 4:30 p.m. – Federal Reserve money supply and balance sheet reports

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Paul Ausick

Shares of Amazon are down more than -9% in just before noon today on a weak quarterly earnings report last night. Nearly 13 million shares have been traded so far today, compared with a 3-month daily average of about 6 million shares traded. We have more coverage here.

A big winner this morning has been Whirlpool, which is up nearly 16% solid earnings and a strong outlook. More than 5.5 million shares have traded this morning, compared with a 3-month daily average of around 1.9 million.

AOL is up more than 14% following a quarterly earnings report that missed estimates, but showed a jump in ad sales. More than 3.2 million shares have traded this morning, compared with a 3-month daily average of about 1.4 million.

JDA Software is down nearly -18% on following a fairly week quarterly report and continuing investor wariness over an SEC investigation of the company’s accounting practices. Nearly 2.2 million shares have traded by mid-day, compared with a daily average of about 320,000.

Unisys shares are down nearly -11% on a weaker-than-expected quarterly report. More than 2.1 million shares have already traded this morning, compared with a 3-month daily average of about 720,000 shares.

Minutes before noon ET, the DJIA is up 1.09% at about 12,771, the Nasdaq is up 1.19% at around 2,847, and the S&P 500 is up 1.09% at about 1,327.

Paul Ausick

The unofficial closing bells put the DJIA down nearly 49 points to 12,422.06 (-0.39%), the NASDAQ fell more than 14 points (-0.51%) to 2,710.67, and the S&P 500 fell -0.49% or more than 6 points to 1,289.10.

There were several analyst upgrades and downgrades today, including VMWare Inc. (NYSE: VMW) cut to ‘sell’ with a target price of $80 at Citigroup; American International Group Inc. (NYSE: AIG) started as ‘hold’ at Stifel Nicolaus; The Charles Schwab Corp. (NYSE: SCHW) cut to ‘market perform’ at Wells Fargo; Chesapeake Energy Corp. (NYSE: CHK) reiterated as ‘sell’ with lower estimates at Argus; and Citrix Systems Inc. (NASDAQ: CTXS) raised to ‘buy’ from ‘neutral’ at Citigroup.

Earnings reports since markets closed yesterday have led to some price changes as of the last half hour of trading today: JPMorgan Chase & Co. is down -2.63% at $35.88; SAP AG (NYSE: SAP) is up 2.42% at $54.54; and JDA Software Group Inc. (NASDAQ: JDAS) is down nearly -14% at $28.21.

Other standouts from today include the following stocks:

Georgia Gulf Corp. (NYSE: GGC) is up more than 34% at $32.85. The chemical and home products maker has received a buyout offer of about $1.03 billion ($30/share) from Westlake Chemical Corp. (NYSE: WLK).

Metabolix Inc. (NASDAQ: MBLX) is down about -58% at $2.52, after posting a new 52-week low of $2.51 earlier. The bioscience and chemicals company is suffering from the cancellation of a joint venture with Archer Daniels Midland Co. (NYSE: ADM), which the larger company unexpectedly announced this morning.

Patriot Coal Corp. (NYSE: PCX) is down nearly -13% at $7.87. The coal miner lowered its production forecast and closed several operations. We have more coverage here.

Diamond Foods Inc. (NASDAQ: DMND) is down more than -10% at $29.71. The snack food maker is now the subject of a criminal inquiry related to payments it made to farmers.

Canadian Solar Inc. (NASDAQ: CSIQ) is down more than -9% at $3.19. The China-based solar panel maker is among the group of Chinese makers who are cooling off, probably due to profit taking, after several days of sharp share price increases.

US markets are closed on Monday in observance of the birthday of Martin Luther King, Jr. We have the following events for Tuesday:

• 8:30 a.m. – Empire State manufacturing survey
• 11:30 a.m. – 3- and 6-month Treasury bill auctions

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Have a great long weekend.

Paul Ausick

After the first half hour of trading, Metabolix is down nearly -55% at $2.70 after posting a new 52-week low of $2.58 earlier. Volume is already 20x the daily average. The bioscience and chemicals company is suffering from the cancellation of a joint venture with Archer Daniels Midland Co. (NYSE: ADM), which the larger company unexpectedly announced this morning.

JDA Software is down nearly -13% at $28.58. Volume is already nearly double the daily average. The enterprise software maker missed revenue estimates when it reported preliminary numbers for the fourth quarter.

Diamond Foods is down more than -8.5% at $30.29. Volume is heavy, at about 50% of the daily average already trading hands. The snack food maker is now the subject of a criminal inquiry related to payments it made to farmers.

Georgia Gulf is up more than 35% at $33.18. Volume is already 5x the daily average. The chemical and home products maker has received a buyout offer of about $1.03 billion ($30/share) from Westlake Chemical Corp. (NYSE: WLK).

Rovi is up more than 10% at $30.40. Volume is already more than half the daily average. The maker of Roxio software was maintained as a ‘buy’ with a $63 target price by Canaccord Genuity, which discounts any major change following the appointment of a new CEO.

Paul Ausick

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.

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

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.

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.
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JON C. OGG

JDA’s purchase of i2 Technologies will help expansion in the supply chain management software segment, but will also bring new customers into the mix along with consulting services.

The deal is subject to approval from holders and will come from a complicated structure of shares, cash, and tentative financing, but some new investors may feel little love.  It is about a 10% premium and the stock is up only 7% at $17.33.  This may not be a done deal either.  After lunch, it turns out that the Kendall Law Group said that it is “investigating the i2 Technologies takeover for shareholders.”

As noted in our transport stocks which would double:
i2 Technologies, Inc. (NASDAQ: ITWO) is a software company.  But it is a supply chain management software company that is involved in the transportation of goods.  It also serves aerospace, auto, chemicals, consumer, defense, energy, industrial, metals, pharma, technology and  telecom compnaies.  Ryder (see below) uses its system as well.  We featured this stock in our “Special Situation Newsletter” in late-January at $6.17 because this one has actually been a busted merger.  It has also been beaten up in the recession.  But this could actually be acquired when things normalize as Oracle, Microsoft, SAP, H-P, and others start looking for deals in the space.  Shares sit at $7.60 and a double would take it to $11.00 from lows.  Its 52-week high is $14.60 and this was a $20+ stock just two years ago……

JON C. OGG

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

athenahealth (ATHN) Raised to Outperform at Blair.
Broadpoint Securities (BPSG) Started as Outperform at KBW.
Forward Air (FWRD) Raised to Buy at KeyBanc.
JDA Software (JDAS) Started as Outperform at JMP Securities.
Marvell (MRVL) Raised to Outperform at JMP Securities.
Mueller Water (MWA) Raised to Perform at Oppenheimer.
Safeway (SWY) Raised to Buy at Jefferies.
State Street (STT) Started as Outperform at Bernstein.

JON C. OGG

The two companies combined should have roughly $635 million in trailing12-month revenues, with about $300 million in recurring maintenance andsubscription service revenues.  The companies believe they will save$20 million in annualized costs.

This merger is subject to i2 shareholder approval.  Some holders willagree to this, but with a $10.01 to $18.80 trading range over the last52-weeks, there could be some holders who argue this undervalues thecompany. Either way, the consolidation among supply chain software andlogistics providers continues to occur.

Jon C. Ogg
August 11, 2008