Special Reports

Notable Analyst Rating Changes of the Day 02/10: DELL, GET, TIF, OPEN Upgraded; SU, BTU, TLVT, SLT Downgraded Feb 10, 2010 10:38AM

UPGRADES
Bank of America Merrill Lynch upgraded Dell (NASDAQ: DELL) from Neutral to Buy and raised their price target from $16.50 to $18. Click Here for more color.

Gaylord Entertainment (NYSE: GET) gets an upgrade from two firms:

• JPMorgan upgrades from Neutral to Overweight. The firm also raised its price target on the stock from $20 to $24; and
  
  
• FBR Research upgrades to Outperform. Price target increased from $17 to $25. Click Here for more color.

Bank of America upgrades Tiffany & Co (NYSE: TIF) from Neutral to Buy. Price target $42.

Bank of America upgrades OpenTable (NASDAQ: OPEN) from Neutral to Buy. Price target increased from $34 to $36.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES
RBC Capital downgrades Suncor Energy (NYSE: SU) from Outperform to Sector Perform.

J.P. Morgan upgrades Peabody Energy (NYSE: BTU) from Neutral to Overweight. Price target raised by $1 to $50.

Piper Jaffray downgrades Telvent Git S.A. (NASDAQ: TLVT) from Overweight to Neutral. Price target lowered from $46 to $37. Click Here for more color.

Argus downgrades Sterlite Industries (NYSE: SLT) from Buy to Sell.

For daily real-time Upgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE
Goldman Sachs reinstated coverage on Citigroup (NYSE: C) with a Neutral rating and $3.50 price target. Click Here for more color.

BMO Capital initiates coverage on Leap Wireless (NASDAQ: LEAP) with a Market Perform rating. Price target $17.50.

Caris & Co initiates coverage on Medco Health Solutions (NYSE: MHS) with an Above Average rating. Price target $69.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

Morning Movers 2/10: ATHX, CYBI, LIOX, OPEN, NTGR Higher; ISIS, DF, RTK Lower Feb 10, 2010 10:25AM

Athersys, Inc. (NASDAQ: ATHX) 26% HIGHER; announced today that it has been granted U.S. patent 7,659,118 that covers non-embryonic multipotent stem cells, their isolation and expansion, and related pharmaceutical compositions. Athersys also announced that it has been granted -- and the opposition period has cleared -- EP patent EP1218489B1 that covers non-embryonic pluripotent stem cells, their isolation, expansion, and usage. Click here for the full report.

Cybex International Inc. (NASDAQ: CYBI) 20.2% HIGHER; reports Q4 EPS of $0.06, 3 cents better than the analyst estimate of $0.03. Revenue for the quarter was $34.80 million, which compares to the estimate of $33.55 million.

Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) 19.8% LOWER; Despite news this morning that the Mipomersen Phase 3 study meets its primary endpoint, shares of Isis are under pressure as investors are concerned about liver toxins.

Lionbridge Technologies (NASDAQ: LIOX) 17.4% HIGHER; reports Q4 EPS of $0.12, ex-items, 13 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $105 million, which compares to the estimate of $100.85 million. Sees Q1 sales of $95-$100 million. The Street is looking for sales of $98.9 million. Reaffirms its FY10 outlook.

OpenTable (Nasdaq: OPEN) 16.5% HIGHER; Bank of America upgrades the stock from Neutral to Buy. Price target increased from $34 to $36.

NETGEAR, Inc. (NASDAQ: NTGR) 13.7% HIGHER; reports Q4 EPS of $0.34, 12 cents better than the analyst estimate of $0.22. Revenue for the quarter was $218.8 million, which compares to the estimate of $178.36 million. NETGEAR sees Q1 sales of $195-$205 million, versus the consensus of $175.8 million.

Drugstore.com Inc. (Nasdaq: DSCM) 13.1% HIGHER; reports Q4 loss of ($0.02), in-line with the analyst estimate of ($0.02). Revenue for the quarter was $ 117.4 million, which compares to the estimate of $108 million.

Conolog (Nasdaq: CNLG) 9.6% HIGHER; traders are "buying the dip" today; after surging more than 60% on Jan. 27 (after announcing the successful launch of its GlowWorm Fiber Optic Detector), the stock jumped over the $4 level (on Feb. 1) and since has closed everyday in the red. From Feb. 2 to Feb. 9, the stock lost more than 50%.

Dean Foods (NYSE: DF) 9.4% LOWER; reports Q4 EPS of $0.31, ex-items, 6 cents lower than the analyst estimate of $0.37. Revenue for the quarter was $3 billion, which compares to the estimate of $2.97 billion. Sees Q1 adj-EPS of $0.25-$0.30, versus the consensus of $0.40. Sees FY10 adj-EPS of $1.54-$1.65, which compares to the Street estimate of $1.69.

Baidu (NASDAQ: BIDU) 9.1% HIGHER; reports Q4 EPS of $1.99, 20 cents better than the analyst estimate of $1.68. Revenue for the quarter was $184.7 million, which compares to the estimate of $180.02 million. Sees Q1 sales of $176-$181 million, versus the consensus of $170.23 million. Numerous analysts are out with price target revisions on the stock today.

Rentech, Inc. (AMEX: RTK) 8.5% LOWER; reports Q1 loss of $0.07, compared to a loss of $0.01 in the same quarter last year. Revenue for the quarter was $27.1 million, compared to $50.8 million in Q109.

AspenBio Pharma, Inc. (NASDAQ: APPY) 8.2% LOWER; today reported conclusions from its pre-planned, independent, interim analysis of the Company's ongoing supplemental clinical trial of AppyScore, the first blood-based test designed to aid in the evaluation of patients suspected of having acute appendicitis, and outlined next steps for its AppyScore 510(k) filing with the U.S. Food and Drug Administration (FDA). Based on the interim analysis, the trial, currently with over 600 patients enrolled, will continue enrollment to approximately 800 patients with completion anticipated in March of 2010. Given the time estimate to complete the current trial and related data analysis, the Company has withdrawn its 510(k) on file with the FDA and will submit a new 510(k) with full results from the ongoing clinical trial. This clinical trial is statistically sized to stand alone and thereby becomes the pivotal trial to support the new 510(k) submission.

To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.

Notable Mergers and Acquisitions of the Day 02/10: MU, GE, ORCL Feb 10, 2010 10:20AM

• Micron Technology, Inc. (NASDAQ: MU) agreed to acquire Numonyx Holdings B.V. in an all-stock transaction valuing Numonyx at approximately $1.27 billion USD.
  
  Under the terms of the agreement, Micron will issue 140 million Micron common shares to Numonyx shareholders, Intel Corporation, STMicroelectronics, N.V. and Francisco Partners. Up to 10 million additional Micron common shares will be issued ratably to Numonyx shareholders to the extent the volume weighted average price of Micron shares for the 20 trading days, ending two days prior to the close of the transaction, ranges between $7.00 and $9.00 per share.
  
  Micron currently estimates that the transaction would be accretive to the company on both free-cash flow and non-GAAP earnings beginning fiscal year 2011. In addition, it is anticipated that the Numonyx balance sheet will be debt-free following closing.
  
  
• GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of nearly $200 million.
  
  In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy LLC. Their new alliance, Marlin Permian, LP, acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy, based in Lafayette, LA, will serve as both general partner of the partnership and operator of the assets.
  
  In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston Basin of North Dakota from Denver-based St. Mary Land & Exploration Company (NYSE: SM) for $137 million. GE Energy Financial Services will serve as the limited partner, with Sequel - also based in Denver - serving as general partner and operator.
  
  John Schaeffer, Managing Director and head of the oil and gas unit at GE Energy Financial Services, said: "GE Energy Financial Services' oil and gas partnership structure will help both Marlin and Sequel realize maximum potential from their respective acquisitions."
  
  Additional financial and operational details of the transactions were not disclosed.
  
  Since 1991, GE Energy Financial Services' Oil and Gas team has provided more than $3 billion in partnership equity for its independent private and public oil and gas partner-operators in the United States. Based in Stamford, Connecticut - with an office in Houston - the Oil and Gas unit is active in all major onshore basins and in shallow water Gulf of Mexico. Its 22 partnership investments own interests in more than 3,000 wells that produce an estimated 26,000 barrels of oil equivalent daily.
  
  
• Oracle (NASDAQ: ORCL)
  
  News Facts
  • Oracle has agreed to acquire Convergin, a leading provider of real-time service brokering solutions.
    
    
  • Convergin's industry-leading J2EE-based Service Broker platform enables communications service providers (CSPs) to manage services for a wide range of networks and application platforms, including pre-paid charging. The solution allows CSPs to focus on launching innovative services while modernizing to next-generation networks.
    
    
  • CSPs are increasingly looking to transition from inflexible and costly intelligent network platforms to deliver value-added services. The combination of Oracle and Convergin is expected to provide a single carrier-grade, standards-based IT platform allowing CSPs to effectively evolve their service delivery capabilities at a lower total cost of ownership.
    
    
  • Convergin products complement Oracle Communications' integrated product suite, including Oracle Communications Billing and Revenue Management, Oracle Communications Converged Application Server and Oracle Communications service fulfillment applications.
    
    
  • The transaction is expected to close the first half of this year. Financial details of the transaction were not disclosed.
  
  
  Supporting Quotes
  • "As communications service providers transition from legacy telephony networks to next-generation networks, the combination of Oracle and Convergin will accelerate new service innovation while reducing network complexity and cost," said Bhaskar Gorti, senior vice president and general manager, Oracle Communications.
  To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions
  
  

After-Hours Movers 2/9: MCZ, NTGR, CYBI, BIDU, RMTR, FNSR Higher; QUIK, LGF, APPY, VRUS, EXBD Lower Feb 9, 2010 05:40PM

Mad Catz Interactive Inc. (NYSE: MCZ) 36% HIGHER; reports Q3 EPS of $0.09, compared to ($0.49) in the same quarter last year. Revenue for the quarter was $48.8 million, versus $40.8 million in Q309.

QuickLogic Corp. (NASDAQ: QUIK) 14.4% LOWER; reports Q4 adj-loss of $0.04. Revenue for the quarter was $4.3 million, versus $4.28 million in Q408.

NETGEAR, Inc. (NASDAQ: NTGR) 14.3% HIGHER; reports Q4 EPS of $0.34, 12 cents better than the analyst estimate of $0.22. Revenue for the quarter was $218.8 million, which compares to the estimate of $178.36 million. NETGEAR sees Q1 sales of $195-$205 million, versus the consensus of $175.8 million.

Cybex International Inc. (NASDAQ: CYBI) 14% HIGHER; reports Q4 EPS of $0.06, 3 cents better than the analyst estimate of $0.03. Revenue for the quarter was $34.80 million, which compares to the estimate of $33.55 million.

Baidu (NASDAQ: BIDU) 9.1% HIGHER; reports Q4 EPS of $1.99, 20 cents better than the analyst estimate of $1.68. Revenue for the quarter was $184.7 million, which compares to the estimate of $180.02 million. Sees Q1 sales of $176-$181 million, versus the consensus of $170.23 million.

Ramtron International Corp. (Nasdaq: RMTR) 8.7% HIGHER; reports Q4 EPS of $0.03, compared to $0.03 in the same quarter last year. Revenue for the quarter was $13.3 million, which compares to the estimate of $11.03 million.

Finisar Corporation (NASDAQ: FNSR) 7% HIGHER; issues prelim. Q3 sales: $166-$167 million, versus the consensus of $155.6 million. The company previously guided sales to $148-$158 million.

Lions Gate Entertainment (NYSE: LGF) 5.8% LOWER; reports Q3 loss of ($0.55), versus the analyst estimate of ($0.23). Revenue for the quarter was $371.5 million, which compares to the estimate of $353.44 million.

AspenBio Pharma, Inc. (NASDAQ: APPY) 5.8% LOWER; today reported conclusions from its pre-planned, independent, interim analysis of the Company's ongoing supplemental clinical trial of AppyScore, the first blood-based test designed to aid in the evaluation of patients suspected of having acute appendicitis, and outlined next steps for its AppyScore 510(k) filing with the U.S. Food and Drug Administration (FDA). Based on the interim analysis, the trial, currently with over 600 patients enrolled, will continue enrollment to approximately 800 patients with completion anticipated in March of 2010. Given the time estimate to complete the current trial and related data analysis, the Company has withdrawn its 510(k) on file with the FDA and will submit a new 510(k) with full results from the ongoing clinical trial. This clinical trial is statistically sized to stand alone and thereby becomes the pivotal trial to support the new 510(k) submission.

Pharmasset, Inc. (Nasdaq: VRUS) 5.4% LOWER; reports Q4 loss of $0.49, versus the analyst estimate of ($0.43). Revenue for the quarter was $300,000, which may not compare to the estimate of $1.77 million.

Tessera Technologies Inc. (NASDAQ: TSRA) 5.1% HIGHER; will replace Financial Federal Corp. (NYSE: FIF) in the S&P SmallCap 600 index after the close of trading on Thursday, February 18.

Corporate Executive Board Company (NASDAQ: EXBD) 5% LOWER; reports Q4 EPS of $0.40, ex-items, versus the analyst estimate of $0.24. Revenue for the quarter was $108 million, which compares to the estimate of $101.33 million. Sees FY10 adj-EPS of $0.85-$1.10, versus the consensus of $1.29. Sees sales of $385-$405 million, which compares to the Street estimate of $418.21 million. Raises its quarterly dividend from $0.10 to $0.11.

Seattle Genetics (NASDAQ: SGEN) 4.9% HIGHER; reports a Q4 loss of $0.12, 11 cents better than the analyst estimate of ($0.23). Revenue for the quarter was $21.8 million, which compares to the estimate of $11.71 million. Seattle Genetics anticipates 2010 revenues will be in the range of $95 million to $105 million. These revenues are generated from fees, milestones and reimbursements earned through the companys brentuximab vedotin, dacetuzumab and ADC collaborations. Revenues are expected to include approximately $70 million related to the companys dacetuzumab collaboration that will end in June 2010, primarily related to cash amounts previously received. (Consensus is $47.32M)

Healthcare Services Group Inc. (NASDAQ: HCSG) 4.3% LOWER; reports Q4 EPS of $0.15, versus the analyst estimate of $0.20. Revenue for the quarter was $182.56 million, which compares to the estimate of $180.96 million.

Diodes Incorporated (NASDAQ: DIOD) 4.2% HIGHER; reports Q4 EPS of $0.36, 7 cents better than the analyst estimate of $0.29. Revenue for the quarter was $130.3 million, which compares to the estimate of $129 million. Sees Q1 sales of $131-$137 million, versus the consensus of $125.5 million.

Drugstore.com Inc. (Nasdaq: DSCM) 4% HIGHER; reports Q4 loss of ($0.02), in-line with the analyst estimate of ($0.02). Revenue for the quarter was $ 117.4 million, which compares to the estimate of $108 million.

Barrett Business Services Inc. (Nasdaq: BBSI) 4% LOWER; reports Q4 EPS of $0.21, 1 cent better than the analyst estimate of $0.20. Revenue for the quarter was $62.6 million, versus the $64.63 million reported in the same quarter last year. Sees Q1 loss of $0.19-$0.22, versus the consensus of a loss of $0.06.

Alico Inc. (Nasdaq: ALCO) 3.6% LOWER; reports Q1 loss of $0.19, versus the analyst estimate of $0.12 and compared to a loss of $0.02 in the same quarter last year. Revenue for the quarter was $14.1 million, which compares to the estimate of $22.49 million.

Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) 3.4% HIGHER; announced that the first patent covering the composition and method of use of Intermezzo (zolpidem tartrate sublingual tablet), the lead Transcept product candidate, has been issued by the United States Patent and Trademark Office. Transcept announced the issuance of a Notice of Allowance for claims under the application for this patent, U.S. Patent Application Serial No. 11/060,641, on December 14, 2009. The newly issued patent, U.S. Patent No. 7,658,945, titled "Compositions for Delivering Hypnotic Agents Across the Oral Mucosa and Methods of Use Thereof," will expire no earlier than February 2025.

Prospect Capital Corporation (NASDAQ: PSEC) 3.4% LOWER; reports Q2 EPS of $0.29, 2 cents better than the analyst estimate of $0.27. Net investment income was $16.93 million for the quarter, compared to $11.96 for the same period in 2008.

American Science and Engineering (NASDAQ: ASEI) 3.3% LOWER; reports Q3 EPS of $0.64, versus the analyst estimate of $0.98. Revenue for the quarter was $54.9 million, which compares to the estimate of $60.05 million. The company also approved a dividend of $0.30 per share of common stock, or $1.20 annualized.

Bob Evans Farms Inc. (Nasdaq: BOBE) 2.9% LOWER; reports Q4 EPS of $0.58, 2 cents below the analyst estimate of $0.60. Revenue for the quarter was $429.8 million, which compares to the estimate of $438 million. Reaffirms outlook.

Capstone Turbine Corporation (NASDAQ: CPST) 2.7% HIGHER; reports a Q3 loss of $0.04, 1 cent better than the analyst estimate of ($0.05). Revenue for the quarter was $16.0 million, which compares to the estimate of $17.34 million.

To get this report daily, visit http://www.streetinsider.com/entities/After-Hours+Movers.

Trading Radar for 02/10: Sprint (S), Dean Foods (DF), Scripps Networks (SNI), Vale S.A. (VALE), Level 3 Comm (LVLT) Report Feb 9, 2010 03:06PM

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:

Before Market Opens
Economics:
8:30am EST

• Trade Balance - Street sees ($35.8B)

Earnings:

ACCO Brands (NYSE: ABD) - consensus EPS $0.22
ArcelorMittal (NYSE: MT) - consensus EPS $0.27
Brookfield Homes Corporation (NYSE: BHS) - no Street consensus
Coca-Cola Enterprises Inc. (NYSE: CCE) - consensus EPS $0.21
Computer Sciences Corporation (NYSE: CSC) - consensus EPS $1.23
Dean Foods (NYSE: DF) - consensus EPS $0.37
Discovery Communications (NASDAQ: DISCA) - consensus EPS $0.36
Elan Corporation, plc (NYSE: ELN) - consensus loss $0.08
Forrester Research (NASDAQ: FORR) - consensus EPS $0.28
IntercontinentalExchange, Inc. (NYSE: ICE) - consensus EPS $1.14
L-1 Identity Solutions, Inc. (NYSE: ID) - consensus loss $0.01
Level 3 Communications (NASDAQ: LVLT) - consensus loss $0.10
Louisiana-Pacific Corp (NYSE: LPX) - consensus loss $0.19
Marsh & McLennan Companies, Inc. (NYSE: MMC) - consensus EPS $0.37
Net Serviços de Comunicação S.A. (NASDAQ: NETC) - consensus EPS $0.18
Scripps Networks Interactive Inc (NYSE: SNI) - consensus EPS $0.51
Sonoco Products (NYSE: SON) - consensus EPS $0.50
Sprint Nextel Corporation (NYSE: S) - consensus loss $0.19
The New York Times Company (NYSE: NYT) - consensus EPS $0.38
TransDigm Group Incorporated (NYSE: TDG) - consensus EPS $0.71
Wright Express Corporation (NYSE: WXS) - consensus EPS $0.54
Wyndham Worldwide (NYSE: WYN) - consensus EPS $0.37

Intraday or Not Specified:
Economics:
10:00am EST

• Crude Inventories - no Street consensus

2:00pm EST

• Treasury Budget - Street sees ($46B)

Earnings:

BHP Billiton PLC (NYSE: BHP) - no Street consensus
BioClinica, Inc. (NASDAQ: BIOC) - consensus EPS $0.06
CAE (NYSE: CAE) - no Street consensus
comScore, Inc. (NASDAQ: SCOR) - consensus EPS $0.04
Deltek Inc. (NASDAQ: PROJ) - consensus EPS $0.13
EastGroup Properties (NYSE: EGP) - consensus EPS $0.75
Equinix Inc. (NASDAQ: EQIX) - consensus EPS $0.34
GSI Commerce, Inc. (NASDAQ: GSIC) - consensus EPS $0.51
HNI Corporation (NYSE: HNI) - consensus EPS $0.24
Lionbridge Technologies (NASDAQ: LIOX) - consensus loss $0.01
National Research Corporation (NASDAQ: NRCI) - consensus EPS $0.29
OraSure Technologies, Inc. (NASDAQ: OSUR) - consensus loss $0.09
Protective Life Corporation (NYSE: PL) - consensus EPS $1.02
Sanofi-Aventis (NYSE: SNY) - no Street consensus
Sierra Wireless, Inc (NASDAQ: SWIR) - consensus EPS $0.18
Sigma-Aldrich Corporation (NASDAQ: SIAL) - consensus EPS $0.72

After Market Closes:
Earnings:

Activision Blizzard, Inc. (NASDAQ: ATVI) - consensus EPS $0.44
Amkor Technology, Inc. (NASDAQ: AMKR) - consensus EPS $0.09
AptarGroup (NYSE: ATR) - consensus EPS $0.47
ARRIS Group, Inc. (NASDAQ: ARRS) - consensus EPS $0.27
BioMed Realty Trust, Inc. (NYSE: BMR) - consensus EPS $0.31
Boston Scientific Corporation (NYSE: BSX) - consensus EPS $0.13
Copa Holdings SA (NYSE: CPA) - consensus EPS $1.09
Core Laboratories (NYSE: CLB) - consensus EPS $1.20
Corporate Office Properties Trust (NYSE: OFC) - consensus EPS $0.11
DENTSPLY International Inc. (NASDAQ: XRAY) - consensus EPS $0.49
Echelon Corporation (NASDAQ: ELON) - consensus loss $0.17
Education Management Corporation (NASDAQ: EDMC) - consensus EPS $0.39
eLoyalty (NASDAQ: ELOY) - consensus EPS $0.03
Everest Re Group, Ltd. (NYSE: RE) - consensus EPS $3.38
GLU Mobile Inc. (NASDAQ: GLUU) - consensus EPS $0.01
Highwoods Properties (NYSE: HIW) - consensus EPS $0.59
Insight Enterprises, Inc. (NASDAQ: NSIT) - consensus EPS $0.20
Kona Grill Inc. (NASDAQ: KONA) - consensus loss $0.16
Longtop Financial Technologies Limited (NYSE: LFT) - consensus EPS $0.44
LoopNet, Inc. (NASDAQ: LOOP) - consensus EPS $0.06
Masco (NYSE: MAS) - no Street consensus
PartnerRe Ltd. (NYSE: PRE) - consensus EPS $2.81
Penn Virginia (NYSE: PVA) - consensus loss $0.10
Penn Virginia GP Holdings LP (NYSE: PVG) - consensus EPS $0.28
Plains All American Pipeline (NYSE: PAA) - consensus EPS $0.70
Prudential Financial, Inc. (NYSE: PRU) - consensus EPS $1.11
Support.com, Inc (NASDAQ: SPRT) - consensus loss $0.10
Taleo Corporation (NASDAQ: TLEO) - consensus EPS $0.17
The Allstate Corporation (NYSE: ALL) - consensus EPS $1.01
Torchmark (NYSE: TMK) - consensus EPS $1.44
Transatlantic Holdings, Inc. (NYSE: TRH) - consensus EPS $1.83
Vale S.A. (NASDAQ: VALE) - consensus EPS $0.32

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