The unofficial closing bells put the DJIA up nearly XX points to XXX (XX%), the NASDAQ rose more than XX points (XXX%) to XXX, and the S&P 500 rose XX% or nearly X points to XXX.

There were several analyst upgrades and downgrades today, including Oracle Corp. (NASDAQ: ORCL) cut to ‘hold’ at ThinkEquity; National Oilwell Varco Inc. (NYSE: NOV) maintained ‘buy’ with a lowered target price of $90 at Argus; 3M Co. (NYSE: MMM) cut to ‘market perform’ at Bernstein; Teva Pharmaceuticals Industries Ltd. (NASDAQ: TEVA) cut to ‘hold’ at Needham; and JDS Uniphase Corp. (NASDAQ: JDSU) raised to ‘buy’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AMC Networks Inc. (NASDAQ: AMCX) is up 2.4% at $40.58; ArcelorMittal (NYSE: MT) is up 1.9% at $16.42; Harvest Natural Resources Inc. (NYSE: HNR) is down -1.6% at $5.71 after posting a new 52-week low of $5.44 earlier today; Kohl’s Corp. (NYSE: KSS) is down -4.6% at $48.52; and Windstream Corp. (NASDAQ: WIN) is down -10.3% at $10.10 after posting a new 52-week low of $9.42 earlier today.

On Friday we are scheduled to get earnings from Dillard’s Inc. (NYSE: DDS), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Nvidia Corp. (NASDAQ: NVDA), Progressive Corp. (NYSE: PGR), ReneSola Ltd. (NYSE: SOL), and Uranium Resources Inc. (NASDAQ: URRE).

Other standouts from today include the following stocks:

Monster Beverage Corp. (NASDAQ: MNST) is up 9.2% at $71.34 in a 52-week range of $32.35-$83.96. The energy drinks company posted strong results, but buyout rumors continue to lead the charge. More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -24.3% at $2.46 after posting a new 52-week low of $2.41 earlier today. The solar component supplier posted bad results and a weak outlook. More coverage here.

We also took a detailed look today at short interest in a number of stocks — big names, volume leaders, and cult stocks.

Stay tuned for Friday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Producer price index
• 9:55 a.m. – Reuters/University of Michigan consumer sentiment

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Paul Ausick

The 5 strongest charts in the technology sector are as follows: Crown Castle International Corp. (NYSE: CCI); VeriSign, Inc. (NASDAQ: VRSN); Red Hat, Inc. (NYSE: RHT); Intuit Inc. (NASDAQ: INTU); and salesforce.com, Inc. (NYSE: CRM).  These strongest names are up 31.4% year to date against a 8% gain for the S&P 500 Index.

The 5 weakest charts in the technology sector are currently the following: First Solar, Inc. (NASDAQ: FSLR); Electronic Arts Inc. (NASDAQ: EA); SanDisk Corporation (NASDAQ: SNDK); Windstream Corporation (NASDAQ: WIN); and Frontier Communications Corporation (NASDAQ: FTR).  These weakest names are down 22.5% year to date and down almost 10% so far in April.

If you click on the chart and open it the chart can expand on your screen for a larger resolution for easier viewing.

The methodology here generates visual and contextual results for technical trading analysis and trading opportunities based upon custom criteria for investors.  You can try the Chartlabpro.com for 30 days using promo code Chartp2p8i.

The unofficial closing bells put the DJIA down nearly 70 points to 12,217.18 (-0.57%), the NASDAQ fell more than 8 points (-0.33%) to2,605.15, and the S&P 500 fell -0.43% or more than 5 points to 1,257.60.

There were a few analyst upgrades and downgrades today, including Sears Holding Corp. (NASDAQ: SHLD) and Molycorp Inc. (NYSE: MCP) added to ‘strong sell list’ at Zack’s Investment Research; Rayonier Inc. (NYSE: RYN) and Reliance Steel & Aluminum (NYSE: RS) added to ‘strong buy list at Zack’s; and Windstream Corp. (NASDAQ: WIN) started as ‘neutral’ at Piper Jaffray.

There was just a single earnings report of note scheduled today: Pansoft Co. Ltd. (NASDAQ: PSOF) is down nearly -15% at $1.80 in the last half hour of trading.

Other standouts from today include the following stocks:

MoSys Inc. (NASDAQ: MOSY) is up more than 37% at $4.07. The memory chip designer has sold a portfolio of patents to a subsidiary of Tessera Technologies Inc. (NASDAQ: TSRA) for $35 million in cash.

Tegal Corp. (NASDAQ: TGAL) is up more than 40% at $3.24. The green energy product maker has sold patents valued at about $4 million.

American Realty Investors Inc. (NYSE: ARL) is up more than 19% at $1.80. The real estate investment company could be responding to technical breakthrough, or there could be some short covering going on.

Meru Networks Inc. (NASDAQ: MERU) is up nearly 22% at $4.17. The wireless networking company could also be gaining from short covering. As of December 15th, about 25% of the company’s shares were short.

Leap Wireless International Inc. (NASDAQ: LEAP) is up nearly 10% at $9.32. The wireless carrier has been mentioned as a possible takeover target for AT&T Inc. (NYSE: T) now that AT&T’s deal for T-Mobile USA has been abandoned.

US markets are closed Monday. Stay tuned for Tuesday. Here are the noteworthy events on the schedule (all times Eastern):

• 10:00 a.m. – ISM manufacturing index
• 10:00 a.m. – Construction spending
• 11:30 a.m. – 3- and 6-month Treasury bill auction
• 2:00 p.m. – Federal Open Market Committee minutes released

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Have a Happy New Year!

Paul Ausick

Gardner Denver, Inc. (NYSE: GDI) named as the Value Stock of the Day at Zacks Investment Research. HSBC Holdings PLC (NYSE: HBC) was named as the Bear of the Day and AGCO Corporation (NYSE: AGCO) was named as the Bull of the Day by Zacks Investment Research.

Warner Chilcott plc (NASDAQ: WCRX) lowered price target to $25 and Forest Labs Inc. (NYSE: FRX) target cut to $40 at Bank of America Merrill Lynch.

Windstream Corporation (NASDAQ: WIN) Started as Neutral at Piper Jaffray.

Rayonier Inc. (NYSE: RYN) and Reliance Steel & Aluminum (NYSE: RS) were added to the #1 (Strong Buy) List at Zacks Investment Research.  The Zacks additions to the #5 (strong Sell List are as follows: Agnico-Eagle Mines Ltd. (NYSE: AEM); Badger Meter Inc. (NYSE: BMI); Kellogg Co. (NYSE: K); and Sears Holdings Corporation (NASDAQ: SHLD). 

Molycorp Inc. (NYSE: MCP) is one where we said earlier in the week that the efficient market theory cannot be applied, and Zacks included it on the Strong Sell ratings list this morning to close out 2011.

JON C. OGG

Insiders may sell shares for a myriad of reasons that have nothing to do with the underlying fundamentals of a company. But when insiders buy shares of the company in the open market, it is almost certainly because they think the shares are undervalued or will rise in the future.

We therefore ignored the large acquisitions by a holding company or an activist. We aimed to identify the top insiders who bought shares in the open market, taking the action as a statement they think shares are cheap, or at least oversold. Some of these CEOs and Officers are already up huge on their purchases. Maybe they are on to something and understand how their companies will fare in this economy better than what overall market panic might indicate.

Companies Whose Own CEOs Are Now Buying:

Titanium Metals Corporation’s (NYSE: TIE) chairman Harold Simmons grabbed his checkbook to buy shares. Simmons spent some $8.2 million to buy 600,000 shares of common stock at a volume-weighted average price (VWAP) of $13.6492. Simmons owns millions of shares with his spouse and via other entities under his control. Other officer and insider purchases were recorded as well in recent days. Shares are back up to $14.85, and the 52-week range here is $13.80 to $22.93. TIE was an $18 stock as recently as August 2.

Equity One Inc. (NYSE: EQY) is a community shopping center REIT, and the Chairman, Chaim Katzman, has spent another $5.5 million or so on multiple days at multiple prices to buy shares. One day alone was a 215,168 share buy at a VWAP of $17.40, and other prices were below $17.00. Katzman now holds more than 52 million shares, and the price is back up above $17.50. The 52-week range is $15.07 to $20.27, and the REIT has a current dividend north of 5%. Keep in mind that the stock traded around $20 as recently as July 22.

Amphenol Corpration’s (NYSE: APH) chairman Martin Loeffler spent $4.99 million buying 115,300 shares of the cabling company on August 5 at a VWAP of $43.31. Shares are already back up to $46.75, and the 52-week trading range was $39.61 to $59.11. It is interesting to know that insiders were selling shares early in 2011 at prices closer to $55.00. The Chairman must think Amphenol has sold off too much.

Leap Wireless International Inc. (NASDAQ: LEAP) has been pounded of late, but chairman of the board Mark Rachesky bought shares under the “MHR” entities, where he effectively raised his stake by another 166,000 shares bought at a price of $7.1434 (VWAP), and took the stake to 25.9%. He previously purchased 500,000 shares at $6.46 for some $3.22 million. Shares are now at $7.65, and the 52-week range is $5.78 to $17.66. What matters here is that LEAP was a $10.00 stock as recently as August 3 and  a $15.00 stock as recently as July 22 before the huge selling wave hit. Dr. Rachesky is the co-founder and president of MHR Fund Management LLC, which is an investment manager of various private investment funds.

Huntsman Corporation (NYSE: HUN) is a former buyout target that did not get acquired. It turns out the Huntsman family sees value here: Officers Peter Huntsman bought 100,000 shares at $11.37 for over $1.1 million, and Jon Huntsman bought 200,000 shares at $11.48 per share for proceeds of $2,296,000.00. Shares of this $3.3 billion chemical company are already back up at $13.93, and the 52-week trading range is $8.47 to $21.52.

Morgan Stanley’s (NYSE: MS) CEO James Gorman last week showed his conviction and confidence in the company … albeit a bit too early. Gorman spent more than $2 million in open market transactions for 100,000 shares at VWAP of $20.6207. The shares were purchased in multiple transactions at prices ranging from $20.555 to $20.73, and the date of the transaction is August 4. Morgan Stanley shares fell below $16.50 at the peak of the selling panic this week, but the stock is back up to $17.50. Gorman was making a statement, but he jumped in a bit too early — before the U.S. downgrade and before the E.U. bank mess.

Greenbrier Companies Inc. (NYSE: GBX) saw waves of insider buying from its president & CEO William Furman this week. He bought roughly 100,000 shares of stock at prices of $12.92 to $15.00. He now holds about 1.3 million shares. Greenbrier manufactures railroad car equipment as well as marine barges. The 52-week trading range is $9.10 to $30.38.

Charter Communications Inc. (NASDAQ: CHTR) is freshly under a share buyback plan now that it has emerged from Chapter 11. CFO Christopher Winfrey purchased some 25,000 shares at $46.02 for a total of about $1.15 million. Shares are back up to $47.50, and the 52-week trading range is $31.36 to $61.15. With the CFO buying shares as well as a $200 million share buyback plan, it seems the company may actually believe in its own worth.

Annaly Capital Management, Inc. (NYSE: NLY) is going to benefit from the new perpetually low rates courtesy of Ben Bernanke and for the fact that the debt ceiling issue is behind us. Kevin Keyes, chief strategic officer and head of capital markets, has decided that Annaly will be able to keep borrowing at next to nothing rates, and buying mortgage products so that the REIT can pay out 90% of its income for massive yields. He spent more than $850,000, buying 50,000 shares on August 8 at $17.13 VWAP. With this purchase, he doubled his stake in the company. Shares are back up to almost $18, and the 52-week trading range is $14.05 to $18.79. NLY one has a double-digit dividend yield at the current payout.

Dominion Resources, Inc. (NYSE: D), a producer and transporter of power, had a buy in window open up when five insiders acquired more than 15,000 shares in direct market purchases. The insiders included the CEO and CFO as well as as directors. They bought at share prices of $46.11 to $48.21. Shares are back up to $48.00, and the 52-week range is $41.13 to $50.45. Keep in mind that Dominion is a $27 billion company.

Windstream Corporation (NASDAQ: WIN), the rural telecommunications services provider acquiring Paetec Holdings Corp. (NASDAQ: PAET), has seen president & CEO Jeffery Gardner buy 17,800 shares along with VP Grant Raney. Chairman Dennis Foster bought 10,000 shares as well. The various purchases were a mix of ‘non open market’ and direct purchases at prices between $11.00 and $11.50. These same insiders had also made indirect and direct purchases of shares in May and June at prices closer to $13.00. What is interesting is that these insiders are growing shares during the midst of an acquisition of broadband provider Paetec for more than $700 million.

Middleburg Financial Corporation (NASDAQ: MBRG) is interesting, even if it might not seem the biggest buy in the world. Ousted Berkshire Hathaway executive David Sokol spent about $260,000 to buy 8,317 more shares of Middleburg at $14.56, and another 11,000 shares at $14.38. Sokol now has over 1.4 million shares, direct and indirect, and he has been thought of as a buyer of the banking and financial services company. MBRG trades only about 10,000 shares a day, and has a $101 million market cap. Its 52-week trading range is $13.33 to $19.00.

Ligand Pharmaceuticals Inc. (NASDAQ: LGND) may seem like a light purchase on the surface, but the purchase is after a period of real weakness, when shares fell from $13.50 to $11 before the recent market stabilization. Todd Davis, a director, bought 15,000 shares at a VWAP price of $10.90 in multiple transactions at prices ranging from $10.668 to $11.239. The transaction doubled his direct ownership stake of 29,201 shares. Another director, Jason Aryeh, bought 2,000 shares at $10.57, and another director, Sunil Patel, bought 5,000 shares at a VWAP of $10.74. The transaction was after earnings. The 52-week trading range of $8.14 to $14.80. Ligand also trades only about 133,000 shares a day, so this stood out more than many investors might have given it credit for.

JON C. OGG

Best Buy (NYSE: BBI) was hit with a racial profiling suit.

Tobacco stocks were pressured as Australia pressed for more stringent warnings on packages, a trend which has spread in other developed countries recently

Douglas A. McIntyre

BIGGEST STOCK PRICE LOSERS

FOR WEEK, MONTH (JUNE) AND YEAR-TO-DATE AS OF JUNE 30

A123 Systems Inc. (NASDAQ: AONE) Raised to Neutral at BofA/ML.
Boston Scientific Corporation (NYSE: BSX) Raised to Outperform at RBC.
Chesapeake Midstream Partners, L.P. (NYSE: CHKM) Raised to Buy at BofA/ML.
Deckers Outdoor Corporation (NASDAQ: DECK) is Bull of the Day at Zacks Investment Research.
General Motors Co. (NYSE: GM) Reiterated Buy at Argus.
Las Vegas Sands Corp. (NYSE: LVS) Raised to Outperform with $56 target at Credit Suisse.
Liberty Global Inc. (NASDAQ: LBTYA) Cut to Underperform as Bear of the Day at Zacks Investment Research.
Netgear, Inc. (NASDAQ: NTGR) Raised to Buy at By S&P Equity Research (late-Monday call).
Range Resources Corporation (NYSE: RRC) Cut to Market Perform at FBR.
SAP AG (NYSE: SAP) Started as Underperform at BNP Paribas.
Southwestern Energy Co. (NYSE: SWN) Cut to Underperform at BofA/ML.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) Raised to Overweight at HSBC.
Windstream Corporation (NASDAQ: WIN) Raised to Buy at Citigroup.

You can 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

• Cepheid (CPHD) Started as Buy at Needham.
• Charles Schwab (SCHW) Raised to Market Perform at FBR.
• Diana Shipping (DSX) Raised to Overweight at JPMorgan.
• Gymboree (GYMB) Raised to Overweight at JPMorgan.
• Windstream (WIN) Raised to Overweight at JPMorgan.
• AMEDISYS (AMED) Cut to Hold at Deutsche Bank.
• Eagle Bulk Shipping (EGLE) Cut to Underweight at JPMorgan.
• Navios Maritime Partners (NMM) Cut to Neutral at JPMorgan.
• ReneSola Ltd. (SOL) Cut to Neutral at Credit Suisse.
• Verifone (PAY) Cut to Underweight from overweight at JPMorgan.

Jon C. Ogg
November 20, 2008

• Adobe Systems (ADBE) raised to Buy at Deutsche Bank.
• Cirrus Logic (CRUS) raised to Buy at Jefferies.
• DaVita (DVA) raised to Buy at Oppenheimer.
• Embarq (EQ) raised to Overweight at J.P.Morgan.
• Equity Residential (EQR) raised to Overweight at Lehman.
• International Paper (IP) raised to Outperform at Credit Suisse.
• Lincare (LNCR) downgraded to Neutral at Oppenheimer.
• Royal Gold (RGLD) raised to Overweight at HSBC.
• Windstream (WIN) downgraded to Underweight at J.P.Morgan.
• BANC OF AMERICA ON DRUGS: Barr Pharma (BRL) started as Buy; Multi-Fineline (MFLX) started as Buy; Mylan Labs (MYL) started as Buy; Teva Pharma (TEVA) started as Buy; Watson Pharma (WPI) started as neutral; ZymoGenetics (ZGEN) downgraded to Neutral.

Jon C. Ogg
December 18, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the SPECIAL SITUATION newsletter and he does not own securities in the companies he covers.

Jon C. Ogg
June 14, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.