Special Reports

StreetInsider.com After-Hours Movers:

Rackable Systems, Inc. (NASDAQ: RACK) 15% LOWER; sees FY08 sales of $275-$300 million and a non-GAAP loss of $0.16-$0.08. The Street is expecting $349 million in sales and $0.07 in EPS. Non-GAAP gross margins are expected to be in the range of 16-18%.

Maxim Integrated Products, Inc. (NASDAQ: MXIM) 3.5% HIGHER; expects to report net revenues of $500 - $502 million for its fiscal 2009 first quarter ending September 27, 2008. Based on Generally Accepted Accounting Principles (GAAP), the estimated range for earnings per share is approximately $0.19 to $0.22. These preliminary results include pre-tax expenses of approximately $35 million to $40 million in stock based compensation and approximately $30 million to $32 million in pre-tax expenses primarily related to the recently completed restatement and the ramp down of certain wafer fabrication facilities. (Q1 revenue consensus is $503.73 million and EPS consensus is $0.23). Maxim projects revenue in the December quarter of 2009 to range between $460 million and $490 million. (Consensus is $505.11 million). The Board of Directors of the Company has authorized the repurchase of up to $750 million of the Company's Common Stock. The Company continues to evaluate various capital structure alternatives and may increase the aggregate repurchase authorization to $1.5 billion.[SM]

Post Properties Inc. (NYSE: PPS) INDICATED HIGHER; will replace Longs Drug Stores Corp. (NYSE: LDG) in the S&P SmallCap 600 after the close of trading on Wednesday, October 15.

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

Before Market Opens:
Earnings:
ADTRAN (Nasdaq: ADTN) - consensus EPS $0.35, revs $135.88M
Domino's (NYSE: DPZ) - consensus EPS $0.21, revs $336.75M
WW Grainger (NYSE: GWW) - consensus EPS $1.53, revs $1.80B

Intraday or Not Specified:
Earnings:
Johnson & Johnson (NYSE: JNJ) - consensus EPS $1.12, revs $15.70B
Pepsi (NYSE: PEP) - consensus EPS $1.08, revs $11.22B

After Market Closes:
Earnings:
Altera Corp. (Nasdaq: ALTR) - consensus EPS $0.30, revs $355.08M
CSX Corp. (NYSE: CSX) - consensus EPS $0.93, revs $2.91B
Genentech (NYSE: DNA) - consensus EPS $0.88, revs $3.36B
Intel (Nasdaq: INTC) - consensus EPS $0.34, revs $10.26B
USANA Health (Nasdaq: USNA) - consensus EPS $0.60, revs $111.69M

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Reliant Energy (NYSE: RRI) 66.8% HIGHER; today announced that it has entered into a definitive agreement with an affiliate of First Reserve Corporation related to Reliant's previously announced commitment for the issuance of $350 million of Reliant convertible preferred stock to First Reserve.

Morgan Stanley (NYSE: MS) 65.2% HIGHER; Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU) closed its $9 billion equity investment in Morgan Stanley, which gives Mitsubishi UFJ a 21% ownership interest in Morgan Stanley.

A-Power Energy Generation Systems (Nasdaq: APWR) 61.9% HIGHER; shares have already taken back all their loses and then some from last week's market-wide sell-off. With about 20.9% of its float shorted at the beginning of October, today's move could be getting intensified by shorts covering their downside bets.

New York & Company, Inc. (NYSE: NWY) 39.2% LOWER; Friday after the close, the company provided a revision to its diluted EPS guidance for Q308. In Q3, comparable store sales declined by 10.6%, which is significantly lower than the Company's expectations. As a result, the Company now expects to realize a loss of $4.5-$7.0 million, or $0.08-$0.12 for Q3. (Consensus is $0.11 profit)

Genworth Financial (NYSE: GNW) 38.9% HIGHER; with the Dow up nearly 600 points, investors are buying any financial stock today.

General Motors (NYSE: GM) 32.9% HIGHER; shares are bouncing this week after falling more than 45% last week amid an extremely concerning credit environment.

Eagle Bulk Shipping (Nasdaq: EGLE) 30% HIGHER; the entire dry bulk shipping group is moving substantially higher today as the industry has been beaten up recently as many of these shippers have been a great way to play the global slowdown trade.

American Axle (NYSE: AXL) 23.1% LOWER; Merrill Lynch downgrades American Axle from Neutral to Underperform.

UltraShort FTSE/Xinhua China 25 ProShares (AMEX: EEV) 21.9% LOWER; markets around the world responded positively to the US's stronger-than-usual market on Friday, as well as developments over the weekend. Europe's Stoxx 600 rose 9.1%, the largest intraday advance on record.

Affymetrix, Inc. (Nasdaq: AFFX) 20% LOWER; expects total revenue for the third quarter of 2008 to be approximately $75 million, below the consensus of $90.1 million. Affymetrix said global sales fell below expectations for the quarter driven by increased competition for academic research funding and continued softness in industrial spending.

UltraShort Oil & Gas ProShares (AMEX: DUG) 16.6% LOWER; this ETF allows investors to play the downside of oil & gas, meaning as oil moves higher, the fund moves lower. With a barrel trading about $4 higher today, and marking one of the first up days so far in October, investors are jumping back into the industry today after a much needed correction to under $100 per barrel.

UPGRADES:
J.P. Morgan upgrades St. Jude (NYSE: STJ) from Neutral to Overweight.

Sanford C. Bernstein upgrades Apple (Nasdaq: AAPL) from Market Perform to Outperform but lowered its price target to $135.

Merrill Lynch upgrades Jack In The Box (NYSE: JBX) from Neutral to Buy.

KeyBanc upgrades Best Buy (NYSE: BBY) from Hold to Buy.

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

DOWNGRADES:
J.P. Morgan downgrades Dow Chemical (NYSE: DOW) from Overweight to Neutral.

KeyBanc downgrades Williams-Sonoma (NYSE: WSM) from Hold to Underweight.

Merrill Lynch downgrades Nokia (NYSE: NOK) from Buy to Neutral, citing a global recession.

Brean Murray and SunTrust Robinson Humphrey downgrade New York & Co. (NYSE: NWY) to Hold and Neutral, respectively.

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

NEW COVERAGE:
Brean Murray initiates coverage on National Coal Corp (Nasdaq: NCOC) with a Buy. Price target $12.

Cowen & Co initiates coverage on Ener1 (AMEX: HEV) with a Neutral.

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

• The Federal Reserve Board on Sunday announced its approval of the application and notice under sections 3 and 4 of the Bank Holding Company Act by Wells Fargo & Company (NYSE: WFC), San Francisco, California, to acquire Wachovia Corporation (NYSE: WB) and its subsidiary banks, Wachovia Bank, National Association, both of Charlotte, North Carolina, and Wachovia Bank Delaware, National Association, Wilmington, Delaware, and the nonbanking subsidiaries of Wachovia Corporation.
  
  
• Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU) closed its $9 billion equity investment in Morgan Stanley (NYSE: MS), which gives Mitsubishi UFJ a 21% ownership interest in Morgan Stanley.
  
  Under the revised terms of the transaction, MUFG has acquired $7.8 billion of perpetual non-cumulative convertible preferred stock with a 10 percent dividend and a conversion price of $25.25 per share, and $1.2 billion of perpetual non-cumulative non-convertible preferred stock with a 10 percent dividend.
  
  The MUFG investment further bolsters Morgan Stanley's already strong capital position. Morgan Stanley's Tier 1 Capital Ratio is now estimated to be more than 15.5 percent on a pro-forma basis as of August 31, 2008. This is far in excess of the 6 percent required by the Federal Reserve to be treated as well-capitalized and is one of the highest Tier 1 Capital Ratios among bank holding companies peers. The MUFG investment also reduces Morgan Stanley's leverage ratio to just under 20 times and its adjusted leverage ratio to just over 10 times on a pro-forma basis at August 31, 2008. In addition, Morgan Stanley has continued to reduce the size of its balance sheet since the end of the third quarter. As of today, total assets are now under $900 billion, down from $987 billion at August 31, 2008.
  
  
• Santander (NYSE: STD) is in talks to buy embattled U.S. bank Soverign Bancorp, Inc. (NYSE: SOV). Reports from the Wall Street Journal suggest Stantander will pay a price close to Friday's closing price of Soverign of $3.81 per share.
  
  Stantander already owns a 24.4% stake in Soverign Bancorp.