24/7 Wall St. » MRVL

Top Analyst Upgrades & Downgrades (AKS, ALTR, BRCM, CPN, CTL, DELL, EW, JDSU, MRVL, NMR, STLD, GWW)

Administrator — Thu, 02 Feb 2012 13:32:39 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Thursday morning.

AK Steel Holding Corp. (NYSE: AKS) Cut to Underperform at BofA/ML.
Altera Corporation (NASDAQ: ALTR) Cut to Underperform as Bear of the Day at Zacks.
Broadcom Corporation (NASDAQ: BRCM) Started as Buy at Canaccord Genuity.
Calpine Corporation (NYSE: CPN) Started as Overweight at JPMorgan.
CenturyLink, Inc. (NYSE: CTL) Cut to Neutral at Goldman Sachs.
Dell Inc. (NASDAQ: DELL) Raised to Overweight at JPMorgan.
Edwards Lifesciences Corporation (NYSE: EW) Cut to Neutral at Credit Suisse.
JDS Uniphase (NASDAQ: JDSU) Cut to Neutral at UBS.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Started as Buy at Canaccord Genuity.
Nomura Holdings Inc. (NYSE: NMR) Raised to Outperform at Credit Suisse.
Steel Dynamics, Inc. (NASDAQ: STLD) Cut to Neutral at BofA/ML.
W.W. Grainger, Inc. (NYSE: GWW) Maintained Outperform as Bull of the Day at Zacks.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AKS, ALTR, BRCM, CPN, CTL, DELL, EW, GWW, JDSU, MRVL, NMR, STLD

Friday’s Top Ten Stocks on the Move (ADBE, ATHN, CVC, CAM, CRYP, ISTA, MRVL, RIMM, RRR, SINA)

Administrator — Fri, 16 Dec 2011 13:17:39 +0000

Friday is turning out to be a big day with many stocks on the move for an options expiration date. Some of the big shares with news and on the move are as follows: Adobe Systems Inc. (NASDAQ: ADBE); athenahealth, Inc. (NASDAQ: ATHN); Cablevision Systems Corporation (NYSE: CVC); Cameron International Corporation (NYSE: CAM); CryptoLogic Limited (NASDAQ: CRYP); Ista Pharmaceuticals, Inc. (NASDAQ: ISTA); Marvell Technology Group Ltd. (NASDAQ: MRVL); Research in Motion Limited (NASDAQ: RIMM); RSC Holdings, Inc. (NYSE: RRR); and Sina Corporation (NASDAQ: SINA). We have compiled news summaries on each and added color if applicable.

Adobe Systems Inc. (NASDAQ: ADBE) rose after reporting earnings of $0.67 EPS on revenues of $1.15 billion, while Thomson Reuters for earnings of 60 cents a share in the quarter on revenue of $1.09 billion. Adobe sees non-GAAP profits of ranging from 54 to 59 cents a share for its fiscal first quarter ending in February and $2.37 to $2.47 a share for the full year. Those views compare to the current average analyst estimates for earnings per share of 58 cents and $2.44 in the respective periods. Shares are up 4.7% at $27.70.

athenahealth, Inc. (NASDAQ: ATHN) is trading up about 3% at $50.50 after both Leerink Swann and Oppenheimer raised their analyst ratings.

Cablevision Systems Corporation (NYSE: CVC) is indicated down 7% after COO Rutledge resigned from the company. Interestingly enough, Reuters said that this means Cablevision could end up being in play after the resignation.

Cameron International Corporation (NYSE: CAM) is trading up about 2.2% at $45.85 after BP agreed to indemnify Cameron against current and future claims in the Deepwater Horizon disaster.

CryptoLogic Limited (NASDAQ: CRYP), which would win from any loosening online gambling regulations in America, surged in the after-hours on news that it has agreed to a buyout offer by the Amaya Gaming Group at $2.50 per share. Shares were up 35% last night at $2.14 and the 52-week trading range was $0.84 to $2.19.

Ista Pharmaceuticals, Inc. (NASDAQ: ISTA) is seeing a major pop with shares up more than 60% after the proposed $6.50 per share acquisition and buyout proposal from Valeant Pharmaceuticals International, Inc. (NYSE: VRX). Valeant is about 75-times the size of Ista, and the $6.22 share price of Ista compares to a $3.89 close on Thursday and compares to a 52-week range of $2.88 to $11.39.

Marvell Technology Group Ltd. (NASDAQ: MRVL) has not yet traded but is indicated higher by almost 1% after increasing its share buyback plan by $500 million last night.

Research in Motion Limited (NASDAQ: RIMM) just cannot get its act together. Despite what appeared to be an earnings beat, RIM guided lower, delayed a new launch due to chipset concerns, it keeps remaining on the same path, and it keeps losing market share despite having nearly 75 million Blackberry subscribers. This company just needs new management and it really needs to figure out a way to show that its security is far superior than that of smartphones from Apple or Google. Shares are down 10% at $13.58 in the pre-market session.

RSC Holdings, Inc. (NYSE: RRR) is going to be up about 50% on the United Rentals buyout at $18.00 per share.

Sina Corporation (NASDAQ: SINA) is trading lower by more than 4.3% at $50.50 after China is going to start requiring microblog users (which Sina hosts) to get users’ real names before allowing them to access posting privileges.

All of these are pre-market trading indications and some are likely to change substantially throughout the trading day.

JON C. OGG

Filed under: Pre-Market Activity, Trading Alert Tagged: ADBE, ATHN, CAM, CRYP, CVC, ISTA, MRVL, RIMM, RRR, SINA

24/7 Wall St. Closing Bell (HPQ, KO, LEN, PEP, CREE, ANN, CPWM, HNZ, CRMT, CRM, BONT, CF, MOS, FSCI, CLWR, MTOR, MRVL)

Paul Ausick — Fri, 18 Nov 2011 21:09:39 +0000

Stocks got off on a positive note this morning, but resisted the temptation to climb based on a positive reading of the leading econonmic indicators and higher estimates of US GDP growth in the fourth quarter. Consumer spending appears to be higher than expected and retailers’ inventories are falling which should lead to some re-stocking before the holiday shopping season kicks in with real force. Crude oil prices have fallen about -1.4% today, to below $97.50/barrel. Volume has been reasonably heavy as today brings the expiration of options. Gold prices are up a bit at $1,725.80. See our earlier story on the countries that own the world’s gold.

The unofficial closing bells put the DJIA up more than 25 points to 11,796.23 (0.22%), the NASDAQ fell more than 15 points (-0.60%) to 2,572.50, and the S&P 500 fell 0.04% or about 0.48 points to 1,215.65.

There were several analyst upgrades and downgrades today, including Hewlett-Packard Co. (NYSE: HPQ), which was raised to ‘buy’ at Sterne Agee. Other action included The Coca-Cola Co. (NYSE: KO) started as ‘buy’ at Jefferies; Lennar Corp. (NYSE: LEN) cut to ‘neutral’ at Citigroup; Pepsico Inc. (NYSE: PEP) started as ‘hold’ at Jefferies; and Cree Inc. (NASDAQ: CREE) started as ‘buy’ at Goldman Sachs.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Ann Inc. (NYSE: ANN) is down more than -6.6%, at $23.63; Cost Plus Inc. (NASDAQ: CPWM) is up more than 3%, at $7.88; H.J. Heinz Co. (NYSE: HNZ) is down more than -3%, at $51.06; America’s Car Mart, Inc. (NASDAQ: CRMT) is up more than 10%, at $35.84; Salesforce.com (NYSE: CRM) is down more than -10.5%, at $112.67; and The Bon-Ton Stores, Inc. (NASDAQ: BONT) is down more than -8%, at $2.84, after posting a new 52-week low of $2.70 earlier today.

Several other standouts from today are as follows…

CF Industries Holdings, Inc. (NYSE: CF) is up about 2.9%, at $152.46. The company’s stock got pounded yesterday on news that the corn prices fell, but are recovering a bit today as investors remember that falling corn prices don’t necessarily mean that less corn will be planted and, thus, less fertilizer will be used.

The Mosaic Co. (NYSE: MOS) is up more than 4.6%, at $53.12. Another fertilizer maker that got slammed yesterday and is recovering somewhat today.

Fisher Communications Inc. (NASDAQ: FSCI) is up about 12.7%, at $29.20. The broadcast TV station operator has sold its Fisher Plaza building in Seattle for $160 million in cash to Hines Global REIT, Inc.

Clearwire Corp. (NASDAQ: CLWR) is down nearly -21%, at $1.47. The company is reported to be considering skipping a $237 million debt payment due in two weeks, raising fears that the wireless broadband provider could end up in bankruptcy.

Meritor, Inc. (NYSE: MTOR) is down about -9.7%, at $5.12, after posting a new 52-week low of $5.11 earlier in the day. Shares lost -17% earlier this week when the company lowered its guidance for 2012 and the stock was downgraded today from ‘buy’ to ‘hold’ at KeyBanc.

Marvell Technology Group Ltd. (NASDAQ: MRVL) is up more than ;6.8%, at $14.70. The chip maker reported so-so earnings yesterday, but strong positive statements by analysts at FBR and Citi have turned broken eggs into an omelette.

Stay tuned for Monday. Atlanta Federal Reserve Bank president Dennis Lockhart is speaking in Brazil. Here’s a list of other noteworthy events (all times Eastern):

8:30 a.m. – Chicago Federal Reserve Bank national activity index
10:00 a.m. – National Association of Retailers existing home sales report

Have a great weekend.

Paul Ausick

Filed under: Analyst Calls, HI/LOW, Market Close Tagged: ANN, BONT, CF, CLWR, CPWM, CREE, CRM, CRMT, FSCI, HNZ, HPQ, KO, LEN, MOS, MRVL, MTOR, PEP

Top Active Trader Alert Stocks (BCSI, MRVL, MRBS)

Mike Sauter — Fri, 18 Nov 2011 14:01:54 +0000

Crude oil is at $99.92, up 1.01%

Gold is at $1,727, up 0.40%.

Hong Kong’s Hang Seng closed down 1.73% to 18,491.

Japan’s Nikkei closed lower by 1.24% to 8,375.

The U.S. 10-year is at 2.00%, up 0.o4%.

The FTSE is down .61% to $5,390.

The DAX is up 0.16% to $5,859.

Rambus, Inc. (NASDAQ: RMBS) is up 5.8% before market open to $9.29, relative to a 52-week range of $4.00 – $22.80.

Marvell Technology Group Ltd. (NASDAQ: MRVL) is up 5.5% premarket to $14.54, relative to a 52-week range of $11.23 – $22.01.

Blue Coat Systems, Inc. (NASDAQ: BCSI) is up 19.2% before market open to $20.16, relative to a 52-week range of $12.25 – $32.22.

Filed under: Pre-Market Activity, Trading Alert Tagged: BCSI, MRBS, MRVL

Expected Price Gains for Chip Maker Stocks (INTC, AMD, TXN, BRCM, MRVL, XLNX, AMAT, ARMH, NVDA, QCOM)

Paul Ausick — Wed, 26 Oct 2011 19:11:27 +0000

Nearly every forecast for PC sales indicates slower growth in desktop and laptop sales, waning sales of netbooks, and rising, if not booming, sales for mobile devices like smartphones and tablets. If those forecasts are borne out, chip makers for mobile devices could suck a lot of the air out of the PC microprocessor market, but could also invigorate the server market.The issue for mobile chip makers is competition. There are several companies designing and making the chips that run all those smartphones and tablets, and a clear winner has yet to be named. Our look at chip-maker stocks today includes Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), Texas Instruments Inc. (NYSE: TXN), Broadcom Corp. (NASDAQ: BRCM), Marvel Technology Group Ltd. (NASDAQ: MRVL), Xilinx Inc. (NASDAQ: XLNX), Applied Materials Inc. (NASDAQ: AMAT), ARM Holdings, plc (NASDAQ: ARMH), Nvidia Corp. (NASDAQ: NVDA), and Qualcomm Inc. (NASDAQ: QCOM).All data comes from Yahoo! Finance and MarketWatch, and share prices were gathered shortly after noon today.

1. Intel Corp. (NASDAQ: INTC)
Intel has a median target price of $27.00 from 36 brokers. Shortly after noon today, shares are trading today at $24.56, for an implied gain of $2.44, or 10%. Intel’s forward P/E is 9.6 and the company does pays a dividend yield of 3.4%. The stock’s 52-week trading range is $19.16-$24.84, and at today’s price that’s about 28% above its 52-week low, posted earlier this morning, and 1% below the 52-week high. Intel posted record revenue in the third quarter, but the company still hasn’t made a significant dent in the mobile device market. Its Atom microprocessor sales were down -32% year-over-year as netbook sales continue to slide. The company is gearing up a big push for its low-profile, low-power laptops called Ultrabooks, which are aimed at a market niche now dominated by the MacBook Air from Apple Inc. (NASDAQ: AAPL).

Also Read: A New Blow To Housing: More Boomers Will Stay Put

2. Advanced Micro Devices Inc. (NYSE: AMD)
AMD has a median target price of $6.50 from 27 brokers. Shares are trading today at $4.99, for an implied gain of $1.51, or 30%. AMD’s forward P/E is 8.81 and the company does not pay a dividend. The stock’s 52-week trading range is $4.31-$9.58, and at today’s price that’s about 16% above its 52-week low, posted earlier this morning, and 48% below the 52-week high. AMD posts third-quarter earnings tomorrow, and analysts are expecting EPS of $0.10 on sales of $1.65 billion. That’s $0.05 less per share than the company earned in the year-ago quarter. For the December quarter, analysts currently expect EPS of $0.15, which would beat the year-ago quarter by a penny. The company finally hired a new CEO in August, but even he is unlikely to turn this company around any time soon.

3. Texas Instruments Inc. (NYSE: TXN)
Texan Instruments has a median target price of $32.00 from 33 brokers. Shares are trading today at $30.89, for an implied gain of $1.11, or 4%. TI’s forward P/E is 12.83 and the company pays a dividend yield of 2.1%. The stock’s 52-week trading range is $24.34-$36.71, and at today’s price that’s about 27% above its 52-week low, posted earlier this morning, and 16% below the 52-week high. TI recently completed its acquisition of National Semiconductor, and that could help it next quarter. It’s earnings in the third quarter were barely newsworthy, but several analysts are bullish on the stock going forward, mainly due to TI’s low cost structure. There’s barely anything in the company’s recent performance to substantiate a positive outlook on this stock, so analysts are looking into a crystal ball and seeing what they were looking for.

4. Broadcom Corp. (NASDAQ: BRCM)
Broadcom has a median target price of $45.00 from 35 brokers. Shares are trading today at $34.86, for an implied gain of $10.14, or 29%. Broadcom’s forward P/E is 11.22 and the company pays a dividend yield of 1%. The stock’s 52-week trading range is $29.05-$47.39, and at today’s price that’s about 20% above its 52-week low, posted earlier this morning, and 26% below the 52-week high. Broadcom reported weak earnings yesterday and guided fourth quarter earnings lower. The company makes chips for mobile devices from Apple, Samsung, and Nokia Corp. (NYSE: NOK), and its business should be better than it is. The company needs to get bigger orders from these customers or it needs to push its way into a supply deal with a low-cost Chinese mobile phone maker.

Also Read: Sony Goes All In On Smartphone Market

5. Marvel Technology Group Ltd. (NASDAQ: MRVL)
Marvel has a median target price of $18.25 from 30 brokers. Shares are trading today at $13.51, for an implied gain of $4.74, or 35%. Marvel’s forward P/E is 9.01 and the company does not pay a dividend. The stock’s 52-week trading range is $11.23-$22.01, and at today’s price that’s about 20% above its 52-week low, posted earlier this morning, and 39% below the 52-week high. Marvel stock has the highest implied gain of any stock we’ve looked at here. Its price has fallen recently due to flooding in Thailand, where Western Digital Corp. (NYSE: WDC) uses Marvel chips in its disk drive production and where manufacturing is not expected to be back at full capacity until the first quarter of next year.

Filed under: Analyst Calls, Consumer Electronics, Hardware, Industry, Semiconductor, Semiconductors, Technology Tagged: AMAT, AMD, ARMH, BRCM, INTC, MRVL, NVDA, QCOM, TXN, XLNX

13 Technology Stocks To Outperform Apple (AAPL, AKAM, BIDU, BMC, CLS, GLW, EMC, JNPR, MRVL, MU, NTAP, STX, VRSN, WDC)

Administrator — Wed, 19 Oct 2011 12:23:37 +0000

Apple Inc. (NASDAQ: AAPL) has been the king of tech stocks. While Apple’s results still showed rapid earnings and revenue growth, the report disappointed and results were below Wall Street’s expectations. And without Steve Jobs many investors are wondering whether Apple can continue to “wow” investors as it has over the last decade. Most analysts are tying Apple’s first earnings miss in years to customer delays of iPhone purchases as they waited for the new model introduced last week. Still, the media, and a few analysts, have brought up the question of whether this could be the end of an era. 24/7 Wall St. has identified 13 technology stocks that are expected to outperform Apple in the year ahead, especially now that Apple’s earnings have stumbled.

Apple hit an all-time high this week at $426.70. The stock closed at $422.20 on Tuesday just ahead of earnings. After the announcement, shares fell to about $400, which is where they are likely to open today. Analysts have a consensus price target of roughly $499.00 on the stock, which implies an upside of about 18% from Tuesday’s close, and an upside of 24.5% from $400. 24/7 Wall St. looked at these analyst numbers and found more than ten technology stocks with more implied upside.

In our screen, we only included companies with a market cap of $1 billion and higher. We also restricted the list to companies that are expected to post positive earnings this year and next and to those with long-term operating histories. We used consensus data on earnings and consensus analyst price targets from Thomson Reuters. We did additional analysis of our own on each company. Oddly enough, several of these companies are even tied to Apple’s businesses.

We include the most recent closing share prices, a 52-week range for comparison, and the Thomson Reuters consensus price target for the next twelve months. We have identified what the implied upside is to that price target, shown a year-to-date change from Finviz.com, and given a forward P/E ratio based on next year (2012 in most cases) earnings estimates.

Filed under: Analyst Calls, Consumer Electronics, Corporate Governance, Editor's Picks, PC Companies, Semiconductor, Shareholder Issues, Software, Technology Companies, Value Investing Tagged: AAPL, AKAM, BIDU, BMC, CLS, EMC, GLW, JNPR, MRVL, MU, NTAP, STX, VRSN, WDC

Top Analyst Upgrades & Downgrades (ALJ, APA, CARB, CHK, DVN, JKS, LOGI, MRVL, MGM, MCP, MOS, PHM, PER, SAP, SM, TRV, VMW)

Administrator — Tue, 20 Sep 2011 12:20:26 +0000

These are some of this Tuesday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.

Alon USA Energy, Inc. (NYSE: ALJ) is the value stock of the day at Zacks.
Apache Corp. (NYSE: APA) Started as Buy at Deutsche Bank.
Carbonite, Inc. (NASDAQ: CARB) Started as Buy at Canaccord Genuity; Started as Outperform at Oppenheimer; Started as Outperform at William Blair; Started as Buy at BofA/ML.
Chesapeake Energy Corporation (NYSE: CHK) Started as Hold at Deutsche Bank.
Devon Energy Corporation (NYSE: DVN) Started as Hold at Deutsche Bank.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) Cut to Neutral at Credit Suisse.
Logitech International SA (NASDAQ: LOGI) Cut to Sell at Goldman Sachs.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Cut to Market Perform at JMP Securities.
MGM Resorts International (NYSE: MGM) Raised to Overweight at Morgan Stanley.
Molycorp, Inc. (NYSE: MCP) Cut to Neutral at JPMorgan.
Mosaic Co. (NYSE: MOS) Raised to Sector Outperform at CIBC.
PulteGroup, Inc. (NYSE: PHM) Raised to Buy at UBS.
SandRidge Permian Trust (NYSE: PER) Started as Outperform at Oppenheimer; Started as Market Weight at Wells Fargo; Started as Outperform at Baird.
SAP AG (NYSE: SAP) Raised to Outperform at Wells Fargo.
SM Energy Co. (NYSE: SM) named Bull of the Day at Zacks.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Buy at Goldman Sachs.
VMware, Inc. (NYSE: VMW) Started as Buy at Merriman (Monday night).

JON C. OGG

Filed under: Analyst Calls Tagged: ALJ, APA, CARB, CHK, DVN, JKS, LOGI, MCP, MGM, MOS, MRVL, PER, PHM, SAP, SM, TRV, VMW

Marvell Still Relies Too Much on Blackberry (MRVL, RIMM, WDC, AAPL, GOOG, MMI, MSFT)

Administrator — Fri, 19 Aug 2011 13:35:27 +0000

Any good news is rewarded on a day when equities fall nearly 4%. One of yesterday’s bright spots was Marvell Technology Group Ltd. (NASDAQ: MRVL), which reported second quarter 2012 adjusted EPS of $0.38 on revenue of $898 million. Analysts were expecting EPS of $0.37 on revenue of $889. Not a big beat, but a beat nonetheless. The question should be how long Marvell can keep it up.

The company generated 14% of sales in its 2011 fiscal year from Research in Motion Ltd. (NASDAQ: RIMM), and another 21% from disk-drive maker Western Digital Corp. (NYSE: WDC). It’s no secret that RIM’s Blackberry is losing market share rapidly to the iPhone from Apple Inc. (NASDAQ: AAPL) and smartphones using the Android operating system from Google Inc. (NYSE: GOOG). Google’s recently announced acquisition of the handset business of Motorola Mobility Holdings Inc. (NYSE: MMI) probably won’t figure in much to Marvell’s future sales and earnings, but it’s too early to tell.

The disk drive business has also been soft, as shipments are forecast to fall. S&P downgraded four storage companies yesterday, including Western Digital, which was rated ‘Sell’ from ‘Hold’. Weak sales to enterprise customers and weak PC sales were cited as the reasons for the downgrade.

Research in Motion, with a market cap now of about $13.5 billion, has failed to keep up with other smartphone makers and is currently considered to be a possible takeover target at a price north of $20 billion. There aren’t going to be a lot of bidders at that price, but both Samsung and Microsoft Corp. (NASDAQ: MSFT) are mentioned.

It’s hard to see how a takeover of RIM helps Marvell much though. With its declining market share, RIM’s value could lie mostly in its patent portfolio. Yes, it’s tiresome to read more about patents, but why would a Samsung or Microsoft want to acquire RIM otherwise. Both have committed to another software or hardware platform and adding Blackberry to the mix would just confuse things.

Marvel’s shares are getting a solid boost from its earnings report, though, up more than 6.5% in pre-market trading this morning, at $12.75, in a 52-week range of $11.53-$22.01.

Paul Ausick

Filed under: Earnings, Semiconductor, Technology Companies Tagged: AAPL, GOOG, MMI, MRVL, MSFT, RIMM, WDC

After-Hours Stocks on the Move (ARO, ADSK, BKS, HPQ, LDK, MRVL, SGI)

Administrator — Thu, 18 Aug 2011 21:58:48 +0000

There are many stocks on the move in the after-hours session. Some of the moves will seem muted after today’s rough market but that is the way the ball bounces. Thursday evening’s after-hours stocks on the move are as follows: Aeropostale, Inc. (NYSE: ARO); Autodesk, Inc. (NASDAQ: ADSK); Barnes & Noble, Inc. (NYSE: BKS); Hewlett-Packard Company (NYSE: HPQ); LDK Solar Co. Inc. (NYSE: LDK); Marvell Technology Group Ltd. (NASDAQ: MRVL); and Silicon Graphics International Corp. (NASDAQ: SGI).

Aeropostale, Inc. (NYSE: ARO) fell 2.3% today and the stock is down another 8.9% at $11.38 in the after-hours. This troubled apparel player managed to beat earnings but guided lower for the coming quarter. The turnaround just won’t turn.

Autodesk, Inc. (NASDAQ: ADSK) is regaining half of its losses in the after-hours. Shares fell 8% today and the stock is back up 4% at $26.51 this evening. Keep in mind that today was a 52-week low. The company beat estimates and did not guide lower for the coming quarter.

Barnes & Noble, Inc. (NYSE: BKS) may have fallen almost 7% today but the stock is up almost 3% at $12.42 in the after hours session. Liberty Media is not going to acquire the company but it is making a strategic investment in the company.

Hewlett-Packard Company (NYSE: HPQ) is the gift that keeps on taking and it now trades at less than six-times forward earnings. The stock fell 6% to $29.51 after the re-activated trading after earnings before the close today and the shares have fallen even worse. H-P shares are down 9% at $26.82 in the after-hours and the old 52-week low was $28.64.

LDK Solar Co. Inc. (NYSE: LDK) is one that if it was in Mexico the stock brokers would be telling their sales managers that clients are pulling “El D.K.” to get out of the trade. The solar player lowered guidance for the year for revenues, shipments, and margins. Shares fell 3.5% today and the stock is down 19% at $5.30 in the after-hours.

Marvell Technology Group Ltd. (NASDAQ: MRVL) was down almost 7% ahead of earnings but the mobile chip designer managed to beat estimates. Shares were up 13% at $13.70 in the after-hours session.

Silicon Graphics International Corp. (NASDAQ: SGI) beat earnings and grew again. Shares fell 7.3% today but the stock was up 10.2% at $13.15 on last look in the after-hours session.

JON C. OGG

Filed under: After-Hours Activity, Trading Alert Tagged: ADSK, ARO, BKS, HPQ, LDK, MRVL, SGI

Top Analyst Upgrades & Downgrades (AIG, ARBA, COG, CSL, CBOE, CLX, DNDN, EBAY, GPS, HIT, KCG, LBTYA, MRVL, MSFT, ONXX, PRU, QNST, SPWRA, VZ)

Administrator — Wed, 08 Jun 2011 12:30:48 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

American International Group, Inc. (NYSE: AIG) Started as Neutral at Goldman Sachs.
Ariba Inc. (NASDAQ: ARBA) Reiterated Outperform at Credit Suisse.
Cabot Oil & Gas (NYSE: COG) Raised to Buy at Canaccord Genuity.
Carlisle Companies (NYSE: CSL) Reiterated Strong Buy as Value at Zacks.
CBOE Holdings, Inc. (NASDAQ: CBOE) Cut to Sell at Goldman Sachs.
Clorox Corporation (NYSE: CLX) Cut to UNderweight at Morgan Stanley.
Dendreon Corporation (NASDAQ: DNDN) Maintained Buy and $62 target at Needham.
eBay Inc. (NASDAQ: EBAY) Raised to Outperform at Pac-Crest.
Gap Inc. (NYSE: GPS) Cut to Equal-weight at Barclays.
Hitachi Ltd. (NYSE: HIT) Raised to Outperform at Credit Suisse.
Knight Capital Group Inc. (NYSE: KCG) Raised to Buy at Goldman Sachs.
Liberty Global, Inc. (NASDAQ: LBTYA) Raised to Outperform at Bull of the Day at Zacks.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Started as Buy at Auriga.
Microsoft Corporation (NASDAQ: MSFT) Reiterated Hold at Argus.
Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) maintained Buy but cut target to $48 at Canaccord Genuity.
Prudential Financial. Inc. (NYSE: PRU) Reiterated Outperform at Credit Suisse.
QuinStreet, Inc. (NASDAQ: QNST) Cut to Neutral at BofA/ML.
SunPower Corporation (NASDAQ: SPWRA) Cut to Underperform at Needham; Cut to Hold at Jefferies.
Verizon Communications Inc. (NYSE: VZ) Raised to Outperform at Oppenheimer.

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

JON C. OGG

Filed under: Analyst Calls Tagged: AIG, ARBA, CBOE, CLX, COG, CSL, DNDN, EBAY, GPS, HIT, KCG, LBTYA, MRVL, MSFT, ONXX, PRU, QNST, SPWRA, VZ