After the first half hour of trading this morning, Green Mountain is up nearly 20% at $64.20. Volume is already equal to the daily average of about 7.2 million shares traded. The coffee company posted solid earnings after markets closed last night.

Gap Stores is up more than 9% at $21.25. Volume is already about 80% of the daily average of about 5.3 million shares traded. The clothing retailer reported weak January sales, but lifted its EPS outlook for the fourth quarter above analysts’ estimate.

Response Genetics is up more than 32% at $1.56. Volume is more than double the daily average of about 17,000 shares traded. The drug maker announced the private placement of about 5.3 million shares at $1.50/share, about 28% higher than last night’s closing price.

Education Management is down nearly -20% at $20.55. Volume is already about a third of the daily average of about 230,000 shares traded. The for-profit educator reported weak earnings and lowered its EPS outlook for 2012.

SandRidge is down more than -13% at $6.80. Volume is already nearly double the daily average of about 11.7 million shares traded. The oil & gas company has agreed to acquire an offshore driller for about $1.3 billion.

The DJIA is up 0.01% at about 12,718, the Nasdaq Composite is up 0.31% at about 2,857, and the S&P 500 is up 0.15% at about 1,326.

Paul Ausick

The unofficial closing bells put the DJIA down about 74 points to 12,660.61 (-0.58%), the NASDAQ rose more than 11 points (0.40%) to 2,816.55, and the S&P 500 fell -0.16% or about 2 points to 1,316.33.

There were several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) started as ‘outperform’ with a $32 target price at Credit Suisse; Sandridge Energy Inc. (NYSE: SD) started as ‘buy’ at Canaccord Genuity; The Allstate Corp. (NYSE: ALL) started as ‘outperform’ at William Blair; J.C. Penney Co. Inc. (NYSE: JCP) raised to ‘overweight’ at Piper Jaffray and maintained as ‘buy’ with target price raised to $49 at Argus; and Kimco Realty Crop. (NYSE: KIM) cut to ‘neutral’ at Citigroup.

Earnings reports since markets closed on last night have led to some price changes as of the last half hour of trading today: American Electric Power Co. Inc. (NYSE: AEP) is down -2.62% at $40.20; Chevron Corp. (NYSE: CVX) is down -2.10% at $104.35; Dominion Resources Inc. (NYSE: D) is down -1.91% at $49.88; Ford Motor Co. (NYSE: F) is down -3.69% at $12.27; Honeywell International Inc. (NYSE: HON) is up 1.31% at $58.59; and Proctor & Gamble Co. (NYSE: PG) is down -0.51% at $64.47.

Other standouts from today include the following stocks:

Solutia Inc. (NYSE: SOA) is up more than 40% at $27.35, after posting a new 52-week high of $27.85 earlier today. The specialty chemicals company has agreed to be acquired by Eastman Chemical Co. (NYSE: EMN) for $3.4 billion in cash and stock.

Cepheid (NASDAQ: CPHD) is up more than 25% at $42.98 after posting new 52-week high of $43.03 earlier today. The medical diagnostics equipment maker has boosted its sales outlook and is enjoying a halo effect from the hostile takeover bid for Illumina Inc. (NASDAQ: ILMN).

Infinity Pharmaceuticals Inc. (NASDAQ: INFI) is down -40% at $5.97. The drug maker has cancelled further trials of a pancreatic cancer drug that does not perform better than placebo.

Inergy L.P. (NYSE: NRGY) is down nearly -24% at $17.31 after posting a new 52-week low of $17.23 earlier today. The natural gas distribution company is cutting payouts to its unitholders.

Riverbed Technology Inc. (NASDAQ: RVBD) is down nearly -19% at $24.38. The networking technology company warned this morning that first-quarter sales growth would not meet previous expectations.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Personal income and outlays
• 11:30 a.m. – 3- and 6-month Treasury bill auctions

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Have a great weekend.

Paul Ausick

The Allstate Corporation (NYSE: ALL) Started as Outperform at William Blair.
AT&T Inc. (NYSE: T) Reinstated as Neutral with $30 price target at Credit Suisse.
Best Buy Co., Inc. (NYSE: BBY) Started as Outperform with $32 target at Credit Suisse.
Celgene Corporation (NASDAQ: CELG) Cut to Hold on Valuation at Argus.
Cliffs Natural Resources (NYSE: CLF) Cut to Neutral at Credit Suisse.
Equity One Inc. (NYSE: EQY) Cut to Sell at Citigroup.
Hartford Financial Services Group (NYSE: HIG) Cut to Neutral at JPMorgan.
J.C. Penney Company, Inc. (NYSE: JCP) Raised to Overweight at Piper Jaffray; Maintained as Buy but raised price target to $49 at Argus.
Juniper Networks Inc. (NYSE: JNPR) Cut to Market Perform at Morgan Keegan.
Kimco Realty Corporation (NYSE: KIM) Cut to Neutral at Citigroup.
The Progressive Corporation (NYSE: PGR) Started as Underperform at William Blair.
Sandridge Energy Inc. (NYSE: SD) Started as Buy at Citigroup.
Synaptics Inc. (NASDAQ: SYNA) Raised to Buy at Needham; Cut to Neutral at Stern Agee.
Under Armour, Inc. (NYSE: UA) Reiterated as Buy with $102 price target at Canaccord Genuity.
Vistaprint NV (NASDAQ: VPRT) Cut to Underperform as Bear of the Day at Zacks.
ZOLL Medical Corporation (NASDAQ: ZOLL) 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.

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JON C. OGG

Chesapeake isn’t alone in doing these joint venture deals. SandRidge Energy Inc. (NYSE: SD) and Carrizo Oil & Gas Inc. (NASDAQ: CRZO) have also recently sold stakes in shale gas plays.

In the latest deal, Total paid Chesapeake about $610 million in cash and will spend an additional $1.42 billion on drilling and completion costs anticipated through the end of 2014.

In the press announcement, Chesapeake’s CEO enumerated the company’s joint ventures and their value:

This Utica transaction is our seventh significant JV and in these seven JVs, Chesapeake has sold approximately 1.5 million net acres for total leasehold consideration of $14.8 billion while retaining 3.6 million net acres as of the JV date with an indicated value by the JV partners of $45.7 billion.

The Utica shale play, like the Eagle Ford play in south Texas, is liquids rich and far more valuable due to the high price companies can get for both the natural gas liquids and the oil that can be extracted using hydraulic fracturing (fracking).

But production companies may have hit a snag in Ohio. On Saturday, a 4.0-magnitude earthquake hit the Youngstown, Ohio, area and led to the state’s closure of all 177 waste water injection wells. There is some concern that the practice of injecting the recovered fracking fluids back into the ground is causing some of the quakes that have occurred in Ohio, Pennsylvania, Arkansas, and Texas.

The injection wells in Ohio are about 9,000 feet below the surface, making any risk to drinking water extremely small. A recent US EPA report on groundwater contamination from fracking in Pavillion, Wyoming, studing wells less than 300 feet below the surface.

Chesapeake’s latest joint venture, combined with the sale of its pipeline assets in the Marcellus shale announced last week, puts about $3.2 billion onto the company’s books. Chesapeake intends to garner about $7 billion in 2012 by selling assets, holding an IPO for its own oil field services company, and creating joint ventures. The company also plans to increase production by 30%. The goal is to reduce its outstanding debt by 25%.

Chesapeak’s shares are up nearly 3.5% in pre-market trading this morning, at $23.05 in a 52-week range of $22.00-$35.95.

Paul Ausick

The unofficial closing bells put the DJIA up nearly 113 points to 11,893.86 (0.96%), the NASDAQ rose 3.5 points (0.13%) to 2,625.15, and the S&P 500 rose 0.86% or more than 10 points to1,239.70.

There were several analyst upgrades and downgrades today, including Amazon.com (NASDAQ: AMZN) was added to Zack’s ‘Strong Sell List’. Other changes included Advance Auto Parts Inc. (NYSE: AAP) cut to ‘neutral’ at Credit Suisse; Cisco Systems Inc. (NASDAQ: CSCO) raised to ‘buy’ at Deutsche Bank and Citigroup and target price raised to $26 at Credit Suisse; Nokia Corp. (NYSE: NOK) maintained at ‘hold’ with a $7.50 price target at Canaccord Genuity; SandRidge Energy, Inc. (NYSE: SD) cut to ‘neutral’ at Goldman Sachs; and Computer Sciences Corp. (NYSE: CSC) cut to ‘underweight’ at JPMorgan.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: EnerSys (NYSE: ENS) is up more than 18%, at $26.09; Frontline Ltd. (NYSE: FRO) is up nearly 18%, at $6.05; FutureFuel Corp. (NYSE: FF) is up about 9.5%, at $11.44; Flotek Industries, Inc. (NYSE: FTK) is up more than 13%, at $8.41; Quad Graphics, Inc. (NYSE: QUAD) is down -24%, at $13.90; and Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is down more than -41%, at $39.44.

Several other standouts from today are as follows…

IntraLinks Holding, Inc.) is down nearly -13.5%, to $4.76, a new 52-week low. The company’s stock was downgraded yesterday from ‘buy’ to ‘hold’ following a disappointing earnings report and another 52-week low earlier this week.

HollyFrontier Corp. (NYSE: HFC)  is down  more than -3.5%, at $29.38. The company has sold some assets to Holly Energy Partners LP (NYSE: HEP). Because HFC owns 44% of HEP, the deal’s long-term effects could reduce HFC’s revenues somewhat.

Pandora Media, Inc. (NYSE: P) is down about -4.5%, at $14.70. There’s no news, other than that there is so much competition in the streaming music business that it’s tough to pick a winner. Sirius XM Radio Inc. (NASDAQ: SIRI) is a current favorite following its turnaround.

Leap Wireless International Inc. (NASDAQ: LEAP) is up more than 6%, to $8.84. The company may be willing to sell part of its valuable spectrum assets. Shares are also likely to be getting some help from T-Mobile USA’s report today that it has added subscribers.

Here are some things on tap for Friday. It’s Veteran’s Day, so banks and the bond market are closed though the stock market is not. Federal Reserve Bank governor Janet Yellen and San Francisco Fed president John Williams are giving speeches tomorrow afternoon. We have noted the following events (all times Eastern):

• 9:55 a.m. – Reuters/University of Michigan consumer sentiment index.

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Paul Ausick

Advance Auto Parts. Inc. (NYSE: AAP) cut to Neutral at Credit Suisse.
Amazon.com Inc. (NASDAQ: AMZN) added to Strong Sell List at Zacks.
Anheuser-Busch InBev (NYSE: BUD) Cut to Neutral at UBS.
Carbonite, Inc. (NASDAQ: CARB) Reiterated Buy with $16 target at Canaccord Genuity.
Cisco Systems Inc. (NASDAQ: CSCO) Raised to Buy at Deutsche Bank; Raised to Buy at Citigroup; Target raised to $26 from $25 at Credit Suisse.
Computer Sciences Corporation (NYSE: CSC) Cut to Underweight at JPMorgan.
Dean Foods Company (NYSE: DF) Cut to Sell at S&P Capital IQ (late-Wednesday); Maintained Buy at Bof A/ML.
Enterprise Products Partners (NYSE: EPD) named Bull of the Day at Zacks.
Hospira, Inc. (NYSE: HSP) named Bear of the Day at Zacks.
Kraft Foods Inc. (NYSE: KFT) Reiterated Buy with $40 target at Argus.
Logitech International SA (NASDAQ: LOGI) Raised to Hold at S&P Capital IQ (late-Wednesday).
Nokia Corporation (NYSE: NOK) maintained Hold with $7.50 target at Canaccord Genuity.
PG&E Corporation (NYSE: PCG) cut to Neutral at Credit Suisse.
SandRidge Energy, Inc. (NYSE: SD) Cut to Neutral at Goldman Sachs.
Spreadtrum Communications Inc. (NASDAQ: SPRD) Reiterated Buy and raised estimates at Canaccord Genuity.
SurModics Inc. (NASDAQ: SRDX) named as Aggressive Growth at Zacks.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Raised to Equal-Weight at Morgan Stanley.

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JON C. OGG

The unofficial closing bells put the DJIA down more than 61 points to 11,983.32 (-0.51%), the NASDAQ fell more than 11 points (-0.44%) to 2,686.15, and the S&P 500 fell -0.63% or more than 7 points to 1,253.23.

There were several analyst upgrades and downgrades today, including Big Lots, Inc. (NYSE: BIG) raised to ‘outperform’ at Wedbush. Delta Air Lines (NYSE: DAL) was raised to ‘outperform’ at Zack’s and was named the firm’s Bull of the Day; Royal Gold Inc. (NASDAQ: RGLD) was cut to ‘sector perform’ at National Bank; SandRidge Energy Inc. (NYSE: SD) was cut to ‘hold’ at Stifel Nicolaus; Sunpower Corp. (NASDAQ: SPWRA) was cut to ‘underperform’ at Macquarie; and Trina Solar Ltd. (NYSE: TSL) was cut to ‘neutral’ at Macquarie. We noted a change in the solar sector earlier today.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Starbucks Corp. (NASDAQ: SBUX) is up about 6.4%, at $44.04, after posting a new 52-week high earlier in the day; LinkedIn Corp. (NASDAQ: LNKD) is down more than -6%, at $82.09; Analysts International Corp. (NASDAQ: ANLY) is up nearly 28%, at $4.67; Oxigene, Inc. (NASDAQ: OXGN) is down -33%, at $1.22; Rosetta Stone, Inc. (NYSE: RST) is down more than -23%, at $7.77, after posting a new low earlier today; and MasTec, Inc. (NYSE: MTZ) is down -20%, at $17.52.

Several other standouts from today are as follows…

Alon USA Energy, Inc. (NYSE: ALJ) is up nearly 46%, at $11.40. The Israeli-based oil refiner has struck a deal to receive 25,000 barrels/day of WTI crude at its Louisiana refinery, which will give its margins a sharp boost.

DragonWave, Inc. (NASDAQ: DRWI) is up 36%, at $4.91. The company has agreed to buy the microwave business from the joint venture Nokia Siemens Networks.

SemiLEDS Corp. (NASDAQ: LEDS) is up nearly 37%, to $4.04. The company got a huge boost from the Chinese government’s announcement that it will ban incandescent light bulbs beginning next year.

Chesapeake Energy Corp. (NYSE: CHK) is down more than -6%, at $27.24. The company reported better-than-expected earnings this morning, but asset sales to generate cash are causing concerns among investors.

Imperial Sugar Co. (NASDAQ: IPSU) is down more than -12%, at $6.01, after posting a new 52-week low of $5.75 earlier today. The company is suspending its quarterly dividend.

Seattle Genetics Inc. (NASDAQ: SGEN) is down about -18%, at $18.02. The shares posted an all-time high earlier this week, but the stock price run-up may have exaggerated the company’s growth prospects.

Stay tuned for Monday. Boston Federal Reserve president Eric Rosengren is giving a speech in the morning. We have noted the following events (all times Eastern):

• 11:00 a.m. – Four-week Treasury bill announcement
• 11:30 a.m. – Three- and six-month Treasury bill auction
• 3:00 p.m. – Federal Reserve consumer credit report

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Paul Ausick

Big Lots Inc. (NYSE: BIG) Raised to Outperform at Wedbush.
Chico’s FAS Inc. (NYSE: CHS) Cut to Neutral at Citigroup.
Delta Air Lines (NYSE: DAL) Raised to Outperform as Bull of the Day at Zacks.
Energy Recovery Inc. (NASDAQ: ERII) Started as Neutral at Credit Suisse.
PPG Industries, Inc. (NYSE: PPG) named as Value stock of the Day at Zacks.
Plexus Corporation (NASDAQ: PLXS) named Bear of the Day at Zacks.
Randgold Resources Limited (NASDAQ: GOLD) Cut to Hold at Canaccord Genuity.
Royal Gold, Inc. (NASDAQ: RGLD) Cut to Sector Perform at National Bank.
SandRidge Energy, Inc. (NYSE: SD) Cut to Hold at Stifel Nicolaus.
Stanley Black & Decker Inc. (NYSE: SWK) Raised to Buy at Argus.
SunPower Corporation (NASDAQ: SPWRA) Cut to Underperform at Macquarie.
Transocean Ltd. (NYSE: RIG) Cut to Underperform at Macquarie.
Trina Solar Limited (NYSE: TSL) Cut to Neutral at Macquarie.
Vical Inc. (NASDAQ: VICL) Started as Outperform with $7 target at Credit Suisse.
VIVUS, Inc. (NASDAQ: VVUS) Started as Outperform with $15 target at Credit Suisse.
YRC Worldwide Inc. (NASDAQ: YRCW) Raised to Hold fro Sell at Stifel Nicolaus.

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JON C. OGG

Read America’s Most Overpaid CEOs

24/7 Wall St. obtained the list of companies with the 100 highest paid CEOs from GMI, an independent governance ratings firm. The CEOs’ total compensation includes base salary, perks, cash bonuses, equity awards and any increase in pensions and other retirement benefits. We then looked at the stock performance of these companies during 2010. We got the stock performance data from Capital IQ. Our list is comprised of those companies whose CEOs were among the highest paid during 2010, yet their stocks performed the worst and had the largest price drops that same year. We excluded chief executives who are no longer with their company, like Mark Hurd of Hewlett-Packard (NYSE: HPQ), who might have otherwise made the list.

Once again, this list makes it clear that shareholders who cannot effectively vote to have management removed are saddled not only with those ineffectual executives, but also with their pay packages. The notion of “pay for performance” is still not applied systematically among America’s largest public companies. There is no sign that the SEC or any other regulator is likely to change the method by which CEOs at public companies are compensated, so next year, there will be another 24/7 Wall St. Most Overpaid CEOs.

SGI is the institutional name under investment manager Rydex|SGI, which manages about $23 billion in assets under management.  The SGI Mid Cap Value strategy offers access to the same investment team, and while nearing capacity, is currently open to new investors.

On the retail side, Schier also manages an equally notable fund, Rydex Small Cap Value, which is open to new investors and recently attained a 3-year track record Rydex Small Cap Value Fund is rated 5-Stars by Morningstar; the Rydex Mid-Cap Value Fund (SEVAX) is rated 4-stars.

The explanation behind “nearing capacity” is rather simple.  The strategy is currently about $3 billion at SGI. The trick is to avoid owning a fund that is too large compared to its investment targets.  Since the fund has roughly 85 holdings, it is conceivable that the fund could have a real impact down the road on a stock simply by getting in and out of positions or when inflows or if redemptions hit in the future. The fund generally holds 65 to 100 positions.

Schier likes to play his cards close to the vest as he does not like to give away his investment strategy to outside managers and he does not want shadow trading around his entrance and exits of positions.  That being said, Schier did note that three areas offering great opportunity are property and casualty (P&C) insurance and energy, with a surprise sector interest in companies with significant public market exposure in various industries.  The surprise is that in the age of austerity, many companies selling to and servicing the federal government expect caution in orders.

In the realm of property and casualty insurance, or P&C, Schier likes The Hannover Insurance Group Inc. (NYSE: THG).  Despite being down about 30% from its highs in the last year, this one trades at a wide discount to peers.  It also pays a 3.2% dividend for you income seekers out there.  Schier credited them by saying, “They are effective operators.  They are gaining market share and their underwriting results are usually above peers.”  A recent acquisition of Chaucer in the United Kingdom is something the Schier expects will only add to earnings and profitability ahead.