Alcoa Inc. (NYSE: AA) Raised to Overweight at JPMorgan.
Amazon.com Inc. (NASDAQ: AMZN) Maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Expedia Inc. (NASDAQ: EXPE) Cut to Neutral at Goldman Sachs.
Yingli Green Energy (NYSE: YGE) Cut to Perform at Oppenheimer.
J.C. Penney Company, Inc. (NYSE: JCP) Cut to Hold at S&P Equity Research (late Thursday call).
Jinko Solar (NYSE: JKS) Cut to Perform at Oppenheimer.
Motorola Inc. (NYSE: MOT) Cut to Hold with $10 target at Citigroup.
Neurocrine Biosciences (NASDAQ: NBIX) Started as Buy at Jefferies.
QLogic Corp. (NASDAQ: QLGC) Raised to Buy at Canaccord.
ScanSource Inc. (NASDAQ: SCSC) Raised to Buy at Stifel Nicolaus.
Solarfun Power Holdings Co. (NASDAQ: SOLF) Cut to Hold with $13 target at Auriga.
Vale S.A. (NYSE: VALE) Cut to Neutral at UBS.
ViaSat Inc. (NASDAQ: VSAT) Raised to Outperform at Oppenheimer.
VMware Inc. (NYSE: VMW) Started as Market Perform at FBR.

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JON C. OGG

ACE Limited (NYSE: ACE) will replace Millipore in the S&P 500 Index.  With a $17.7 billion market cap, this one will be a decent ‘must buy’ stock for index funds that now have to buy the stock whether they wanted to or not.  Shares were up almost 5% last night and the move this morning is 5.3% at $54.99 on well over 100,000 shares.

Baidu, Inc. (NASDAQ: BIDU) is getting shelled after Google Inc. (NASDAQ: GOOG) announced that China renewed its license despite the fights between the two. -5.2% at $68.61 on over 700,000 shares; Google shares are up 3.8% just under $474.00 on over 100,000 shares in the pre-market.

BP plc (NYSE: BP) is down 2.2% at $33.00 this morning on reports that Gulf of Mexico forecast conditions may hamper the cleanup efforts and on word that it has denied claims that it will be able to stop the leak faster than planned.

Conceptus, Inc. (NASDAQ: CPTS) was down as much as 30% last night on a bad earnings warning before getting down about 25% before the night hours went out.  This morning shares are down ‘only’ 22% now at $12.30 on about 400,000 shares.

Lawson Software, Inc. (NASDAQ: LWSN) was down about 3.5% last night after guidance was under expectations. Shares are down 6.4% at $7.13, but there has only been a small handful of trades.

Madison Square Garden, Inc. (NASDAQ: MSG) is down over 4% at $19.51 as LeBron James went to the Miami Heat.  The silly thing about this drop is that the stock is now lower than it was even before LeBron was rumored as considering the Knicks under MSG.  Almost a silly drop considering that shares were at $20.10 to $20.25 before the real hype or hope got started and considering the market has headed up 3 straight days.

Nanometrics Incorporated (NASDAQ: NANO) reaffirmed its 2010 and 2011 goals last night after the Oppenheimer downgrade took out 20% for a $8.69 close.  Shares are up 7% at $9.30 on almost 50,000 shares in the pre-market.

ScanSource, Inc. (NASDAQ: SCSC) raised sales guidance last night and shares were up over 6% last night. Shares are up over 6% at $26.61 on thin volume.

JON C. OGG

ACE Limited (NYSE: ACE) is up big after the reinsurer was announced as the replacement for Millipore in the S&P 500 Index.  Shares are up what appears to be almost 5% at $54.79.  With a $17.7 billion market cap, this one will be a decent ‘must buy’ stock for index funds that now have to buy the stock whether they wanted to or not.

Conceptus, Inc. (NASDAQ: CPTS) shares were down over 30% initially after the reproductive medical device company lowered guidance.  On last look shares have come off lows after the 4PM close, but the stock is still down right at 25% at $11.85 on post-4PM volume of 354,000 shares.

Coldwater Creek Inc. (NASDAQ: CWTR) is showing up as a hard one to call on the surface but it may have just been a pick-off trade in the after-hours.  The after-hours drop was down to $3.40 for a 5.5% drop from the $4.60 close.  The after-hours trading volume was enough on the surface at 21,000 shares, but the issue is that this was only 150 shares for the last print and the last bid-ask spread is wide in after-hours.

The Gap, Inc. (NYSE: GPS) looks like one of the best winners in after-hours after a bad day, but it is an off trade above market for 16,000 shares at $19.77 when the bid/ask is now back to $18.20/$18.34 after a $18.22 close.  Same store sales were flat and gave investors pause today, but this print is above the intra-day high of $19.26.  This is either an error trade or a delayed report trade not even from today.

Lawson Software, Inc. (NASDAQ: LWSN) looks and feels like a name change to “Lost One.”  It met earnings expectations, but guidance is soft.  Shares are down 3.5% at $7.35 on about 70,000 shares since the closing bell.

Nanometrics Incorporated (NASDAQ: NANO) did not at all like the price drop today after Oppenheimer cut the shares to Perform with a $10 price target.  Shares fell a sharp 20% to $8.69 today on the news.  After the close, the company issued a statement that it was reaffirming “its positive business outlook for 2010 and 2011″ and the shares have recovered some.  Shares are up over 4% but still only at $9.06 in the after-hours after closing at $10.86 on Wednesday.  There have been over 100,000 shares traded since after the close.

Nu Horizons Electronics Corp. (NASDAQ: NUHC) announced record first quarter net revenues after the close of $211 million, up 42.6% from a year ago and up 12.8% sequentially; excluding Xilinx products, quarterly revenues grew 52.7% from a year ago and 14.1% sequentially.  Shares have thin after-hours trading but the stock is up 9.6% at $3.65 and that is after a gain of 8.8% during normal hours today.

ScanSource, Inc. (NASDAQ: SCSC) guided sales in the range of $573 million to $583 million, compared to $441 million for the same period one year ago and compared to $540.34 million from Thomson Reuters estimates.  Shares closed at $25.10, and shares are up 6.2% at $26.66 on 31,472 shares since the 4 PM close.

JON C. OGG

• Alcoa Inc. (NYSE: AA) shares are ones to watch for a volume spike higher after the company beat Q2 expectations by 12 cents a share and saw signs of auto market stability. Also watch rival Century Aluminum (Nasdaq: CENX) for possible upside.
• NetApp Inc. (Nasdaq: NTAP) shares are pointing higher as the company saved some dough, and actually made a little, by losing its bid for data storage company Data Domain Inc. (Nasdaq: DDUP) to EMC Corp. (NYSE: EMC).
• Rigel Pharmaceuticals Inc. (Nasdaq: RIGL) shares are up very strongly on clinical trial data that raised expectations for a partnership.
• Novavax Inc. (Nasdaq: NVAX) shares are up more than 10 percent with nearly 100,000 shares traded in the pre-market after the company announced a joint venture in India with Cadila Pharmaceuticals, called CPL Biologicals.
• Human Genome Sciences Inc. (Nasdaq: HGSI) shares are rising on strong volume on a New England Journal of Medicine publication regarding its Raxibacumab as a treatment for anthrax.
• California Pizza Kitchen Inc. (Nasdaq: CPKI) shares will be ones to watch for a potential volume spike higher after the company guided Q2 profit higher.
• ScanSource Inc. (Nasdaq: SCSC) shares could be active in early Thursday trading after the company guided higher for its fiscal Q4, ended in June.

-The 24/7 Wall St. Team