Affymetrix Inc. (NASDAQ: AFFX) Raised to Neutral from Sell with a $4.50 price target at Goldman Sachs.
AMC Networks Inc. (NASDAQ: AMCX) Started as Overweight at J.P.Morgan.
Broadcom Corporation (NASDAQ: BRCM) Raised to Outperform at Wells Fargo.
Canadian Solar, Inc. (NASDAQ: CSIQ) named as Bear of the Day by Zacks Investment Research.
Cisco Systems, Inc. (NASDAQ: CSCO) Started as Buy at Nomura.
Deckers Outdoor Corporation (NASDAQ: DECK) Cut to Underperform from Buy at Stern Agee.
E-Commerce China Dangdang Inc. (NYSE: DANG) Started as Hold at Brean Murray.
Elan Corporation, plc (NYSE: ELN) Raised to Buy at Deutsche Bank.
Estee Lauder Companies (NASDAQ: EL) Raised to Outperform as Bull of the Day at Zacks.
First Solar, Inc. (NASDAQ: FSLR) Cut to Neutral from Buy at R.W. Baird.
Invesco Mortgage Capital Inc. (NYSE: IVR) Cut to Market Perform from Outperform at Keefe Bruyette & Woods.
The Interpublic Group of Companies, Inc. (NYSE: IPG) Started as Overweight at Barclays.
Juniper Networks, Inc. (NYSE: JNPR) Started as Neutral at Nomura.
Omnicom Group Inc. (NYSE: OMC) Started as Equal Weight at Barclays.
OmniVision Technologies (NASDAQ: OVTI) lowered estimates again but maintained as Buy with $12.00 price target at Canaccord Genuity.
Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) Raised to the Conviction Buy List with a $47.00 price target objective at Goldman Sachs.
PetroChina Co. Ltd. (NYSE: PTR) Raised to Buy from Neutral at Citigroup.
Renren Inc. (NYSE: RENN) Started as Hold at Brean Murray.
Riverbed Technology, Inc. (NASDAQ: RVBD) Started as Neutral at Nomura.
Siemens AG (NYSE: SI) Cut to Neutral from Buy at Goldman Sachs.
Youku.com Inc (NYSE: YOKU) Started as Hold at Brean Murray.

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The unofficial closing bells put the DJIA down more than 25 points to 12,020.48 (-0.21%), the NASDAQ rose nearly 6 points (0.22%) to 2,626.20, and the S&P 500 fell -0.19% or more than 2 points to 1,244.58.

There were several analyst upgrades and downgrades today, including Google Inc. (NASDAQ: GOOG) raised to ‘buy’ at Citigroup. Other ratings action included IAMGOLD Corp. (NYSE: IAG) started as ‘outperform’ with a $25 price target at Credit Suisse; Electronic Arts Inc. (NASDAQ: ERTS) raised from ‘neutral’ to ‘buy’ at Citigroup; Seagate Technology PLC (NYSE: STX) raised to ‘buy’ at Argus; Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) cut from ‘buy’ to ‘neutral’ at BofA/Merrill Lynch; and Carrizo Oil & Gas (NASDAQ: CRZO) reiterated ‘buy’ with a new price target of $49 at Canaccord Genuity.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Gildan Activewear Inc. (NYSE: GIL) is down -30.8% at $16.53, after setting a new 52-week low of $16.52; Barnes & Noble, Inc. (NYSE: BKS) is down -16.9% at $14.50; Lululemon Athletica Inc. (NASDAQ: LULU) is down -4.8% at $47.34; Isle of Capri Casinos, Inc. (NASDAQ: ISLE) is down -8.5% at $4.51; The Kroger Co. (NYSE: KR) is up 1% at $23.41; and The Talbot’s Inc. (NYSE: TLB) is down -17.1% at $1.65, after posting a new 52-week low of $1.63. We have more details on Lululemon’s earnings and on the November sales reports from a number of retailers, including Talbot’s.

Several other standouts from today are as follows…

Pacific Ethanol Inc. (NASDAQ: PEIX) is up 26.7% at $1.33. The ethanol maker has regained compliance with Nasdaq listing requirements and has increased ownership of its four ethanol production plants to 27%.

Magma Design Automation Inc. (NASDAQ: LAVA) is up more than 25% at $7.16. The design automation firm has agreed to be acquired by Synopsys Inc. (NASDAQ: SNPS) for $7.35/share.

Clearwire Corp. (NASDAQ: CLWR) is up more than 17% at $2.09. The wireless broadband provider received a $1.6 billion investment from its majority owner Sprint Nextel Corp. (NYSE: S) that will enable Clearwire to meet its $237 million debt payment. We have more details here.

Scorpio Tankers Inc. (NYSE: STNG) are down more than -20% at $5.31. The Monaco-based petroleum shipping company priced a secondary offering this morning at $5.50/share.

Hovnanian Enterprises Inc. (NASDAQ: HOVNP) is down more than -14% at $1.31. The homebuilder has been batted around for nearly a year now, and even improving news on construction spending can’t stop the slide.

Stay tuned for Friday. We have noted speeches due from Dallas Federal Reserve President Richard Fisher, Philadelphia Fed President Charles Plosser, and Boston Fed President Eric Rosengren. Here’s another noteworthy event scheduled for tomorrow (all times Eastern):

• 8:30 a.m. – Non-farm payroll report

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Paul Ausick

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

Aeroflex Holding Corp. (NYSE: ARX) Raised to Conviction Buy List at Goldman Sachs.
Amerisafe, Inc. (NASDAQ: AMSF) Maintained Underperform as Bear of the Day at Zacks.
Applied Materials Inc. (NASDAQ: AMAT) Raised to Outperform at Oppenheimer.
Arcelor Mittal (NYSE: MT) Raised to Buy at Citigroup.
BP PLC (NYSE: BP) Started as Underweight at Morgan Stanley.
British American Tobacco plc (NYSE: BTI) Raised to Overweight at CRedit Suisse.
Carrizo Oil & Gas Inc. (NASDAQ: CRZO) Started as Outperform at Oppenheimer.
China Life Insurance Co. Ltd. (NYSE: LFC) Raised to Buy at Goldman Sachs.
Dole Food Company Inc. (NYSE: DOLE) Raised to Overweight at JPMorgan.
Intermune, Inc (NASDAQ: ITMN) Started as Outperform at Credit Suisse.
LinkedIn Corporation (NYSE: LNKD) Started as Hold at Argus.
McDonald’s Corporation (NYSE: MCD) Reiterated Buy with $102 target at Argus.
The McGraw-Hill Companies, Inc. (NYSE: MHP) Raised to Buy at Argus.
NCR Corporation (NYSE: NCR) Started as Buy at Oppenheimer.
Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) Raised to Buy at Goldman Sachs.
Patterson-UTI Energy Inc. (NASDAQ: PTEN) Raised to Outperform as Bull of the Day at Zacks.
Plains All American Pipeline, L.P. (NYSE: PAA) is the Value stock of the day at Zacks.

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JON C. OGG

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.

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JON C. OGG

Abercrombie & Fitch Co. (NYSE: ANF) Started as Overweight at Barclays; Cut to Hold at Argus.
Apollo Group Inc. (NASDAQ: APOL) Reiterated Buy at Argus.
Biogen Idec Inc. (NASDAQ: BIIB) Raised to Buy at BofA/ML.
The Blackstone Group L.P. (NYSE: BX) Started as Outperform at JMP.
EarthLink Inc. (NASDAQ: ELNK) Raised to Buy at S&P Equity Research (late-Monday call).
Elan Corp. plc (NYSE: ELN) Cut to Neutral at UBS.
Halliburton Company (NYSE: HAL) Reiterated Buy and Raised target to $56 at Argus.
Level 3 Communications Inc. (NASDAQ: LVLT) Raised to neutral at UBS.
Lululemon Athletica Inc. (NASDAQ: LULU) Started as Underweight at Barclays.
Morgan Stanley (NYSE: MS) named as Bear of the Day at Zacks.
NYSE Euronext Inc. (NYSE: NYX) Maintained Buy at Argus.
Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) Started as Buy at Roth Capital.
Ryder System, Inc. (NYSE: R) Started as Outperform at Wells Fargo.
Tractor Supply Co. (NASDAQ: TSCO) maintained Outperform as Bull of the Day at Zacks.
Urban Outfitters Inc. (NASDAQ: URBN) Started as Overweight at Barclays.

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JON C. OGG

Alcatel-Lucent (NYSE: ALU) Raised to Neutral at Nomura.
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) Cut to Hold at Citigroup.
American Water Works Company, Inc. (NYSE: AWK) Started as Neutral with $29 target at Credit Suisse.
Blue Nile Inc. (NASDAQ: NILE) Cut to Hold at Citigroup.
Brightpoint Inc. (NASDAQ: CELL) Raised to Outperform as the Bull of the Day at Zacks Investment Research.
Chipotle Mexican Grill, Inc. (NYSE: CMG) Cut to Neutral at BofA/ML.
Cisco Systems, Inc. (NASDAQ: CSCO) Cut to Neutral at JPMorgan.
Epocrates, Inc. (NASDAQ: EPOC) Started as Market Perform at Morgan Keegan.
Expedia, Inc. (NASDAQ: EXPE) Cut to Neutral at BofA/ML; Cut to Hold at Deutsche Bank.
Green Dot Corporation (NYSE: GDOT) Cut to Sell at Janney.
International Flavors & Fragrances (NYSE: IFF) Raised to Overweight at Barclays.
Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) maintained as Underperform as the Bear of the Day at Zacks Investment Research.
Spirit AeroSystems Holdings Inc (NYSE: SPR) Cut to Neutral with $26 target at Credit Suisse.
Sprint Nextel Corporation (NYSE: S) Cut to Neutral with $5 target at Goldman Sachs.
Tupperware Brands Corporation (NYSE: TUP) Raised to Buy with $64 target at Argus.

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JON C. OGG

Adobe Systems Inc. (NASDAQ: ADBE) is playing some give-back after yesterday’s big run as many doubt that a merger is in the works with Microsoft.  Shares are down nearly 3% at $27.87 on over 600,000 shares in the pre-market.

Alcoa Inc. (NYSE: AA) is up after it beat muted earnings expectations and talked up demand for aluminum from 12% to 13%. JPMorgan also raised the rating.  Shares are up just over 3% at $12.57 on over 1.3 million shares in the pre-market.

Allied Irish Banks plc (NYSE: AIB) is becoming “the daily dumper” and is living up to its new nickname this morning.  Shares are down 2.5% at $1.15 on 160,000 shares in the pre-market.

Cytori Therapeutics, Inc. (NASDAQ: CYTX) is being punished after it priced a 4 million share secondary offering $4.50 per share.  Shares are down 12.9% at $4.65 after closing at $5.34 Thursday.

DragonWave Inc. (NASDAQ: DRWI) is up over 5% at $7.01 holding on to last night’s gains on positive earnings guidance news. Volume is thin.

F5 Networks, Inc. (NASDAQ: FFIV) is lower now that Goldman Sachs cut the rating to a SELL based on valuations and a lack of a deal coming per its belief.

Genzyme Corporation (NASDAQ: GENZ) formally rejected Sanofi-Aventis (NYSE: SNY) and its $69 cash bid and now is exploring alternatives to seek a formal sale process to other buyers.  Shares are up only 0.8% at $72.95 as skeptics feel a higher bid is not going to be coming or will not be much more than the $69 already on the table.

Kulicke & Soffa (NASDAQ: KLIC) proved that dirt cheap valuations did not even factor in all the bad news that should have been priced in.  Shares are down 12.6% at $5.67 on more than 1.8 million shares pre-market; the 52-week range is $4.03 to $9.58.  KLA-Tencor Corporation (NASDAQ: KLAC) is viewed as the larger version of KLIC by traders on many days and its shares are down 2.5% at $34.10 in thinner volume in sympathy with KLIC.

National Bank of Greece SA (NYSE: NBG) is lower by 2.3% at $2.50 this morning on 65,000 pre-market shares, probably on more Greek and PIIGS concerns.

Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) is trading lower after it delayed its FDA New Drug Application for carfilzomib.  Shares are down in line with the move last night and the stock is down 6.6% at $25.69, but volume is thin compared to its 500,000 shares traded after the close last night.

TeleCommunication Systems, Inc. (NASDAQ: TSYS) is up by 7.71% at $4.89 on more than 30,000 shares after it received a telecom systems order of $9.3 million for global satellites from the US Army though August 2011.

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JON C. OGG

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is up almost 6.5% at $6.29 on almost 500,000 shares on positive opinion ahead of its FDA review later this year.

ARM Holdings plc (NASDAQ: ARMH) is up another 2.7% at $16.59 on follow-on buying after Friday’s Microsoft license.

BP plc (NYSE: BP) is up almost 3% after Bonnie fizzled and did not hurt the BP cap but most importantly the stock is up on word that Tony Hayward is just about to be tossed out as CEO.  ADRS are up 2.95% at $37.95 on almost 750,000 shares.

Genzyme Corp. (NASDAQ: GENZ) is up another 6% at $66.50 on very active pre-market trading on worth that J&J and/or GlaxoSmithkline may be interested in the company as well.  Sanofi-Aventis was the front runner on Friday that put shares at a 52-week high. Other Peers Noted as Possible Candidates as well.

Gilead Sciences, Inc. (NASDAQ: GILD) is down slightly after announcing it will offer $2.2 billion worth of convertible senior notes and that it will use at least $1 billion of the proceeds to repurchase common stock.  Shares were up originally but the stock is now flat.

First Solar, Inc. (NASDAQ: FSLR) might have been worse on a different morning.  Barron’s panned the issue over safety issues and margin issues on sales where prices keep drifting lower.

ONYX Pharmaceuticals, Inc. (NASDAQ: ONXX) is one of the top percentage movers after announcing positive top-line Carfilzomib data from a Phase IIb study in blood cancer.  Shares are up 12% at $24.17 on over 700,000 shares.

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JON C. OGG

Actel Corporation (NASDAQ: ACTL) is down after it announced that Q2 revenues are expected to come in at the low end of the previous guidance of +8% to +12% sequentially.  Shares are trading down 3.5% at $13.61 on very thin trading volume, and its 52-week range is $10.03 to $17.10.  Average daily volume is only 71K shares.

Blockbuster Inc. (NYSE: BBI) is just about dead if the news is accurate.  It is still reportedly considering bankruptcy.  As the stock has already compressed so much, Blockbuster shares are down 5% at $0.26 and the 52-week range is $0.24 to $1.56.  Hardly a blockbuster.

BP plc (NYSE: BP) is becoming a permanent member of top day trader alerts, probably because they are in the soup over and over.  Shares are lower on talk of a dividend cut, talk of $10 billion or more being demanded to be put in escrow, and the notion that BP said it has some 51,000 claims amounting to $1.6 billion so far.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is one of the top gainers this morning on a press release that the Italian Medicines Agency approved NerPharMa to manufacture Cell Therapeutics’ drug Pixantrone in the European Union.  This was also an UNUSUAL SUSPECT stock over the weekend as we noted “this has a chance for a trader-interest revival after the penny stock imploded earlier this year” due to new news.  Shares are trading up 18% at $0.53 on well over 500K shares, although the stock was up over 20% a few minutes before.

Ceragon Networks Ltd. (NASDAQ: CRNT) is up after getting a $9 million follow-on order from teh Philippines for a 2G/3G backhaul expansion.  While the gain is on thin volume, the shares are up 7.3% at $7.78 versus a 52-week range of $6.14 to $13.29.

Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) is trading lower after it and Bayer’s Nexavar, a potential lung cancer treatment, failed to meet some endpoints in a Phase III trial.  Shares are down 5% at $21.66, which will be a new 52-week low if it holds as the prior range was $21.77 to $36.75.

Rosetta Resources, Inc. (NASDAQ: ROSE) is trading up, albeit a bit smaller than expected in pre-market trading after being featured in our UNUSUAL SUSPECTS.  Barron’s called it a BUY with shares possibly doubling. Monday’s pre-market trading has shares up 3% at $26.00 on close to 20,000 shares.

THQ Inc. (NASDAQ: THQI) is getting clipped after lowering guidance for Q1: it now sees an adjusted loss of -$0.20 to -$0.30 EPS versus a previous outlook of a breakeven with sales of $155 to $165 million versus its prior forecast of $190 to $200 million.  The video game publisher’s shares are down 7.2% at $5.15 on fairly thin volume, and its 52-week range is $4.12 to $8.82.

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JON C. OGG

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