StreetInsider.com News Articles

Notable Analyst Rating Changes 7/3: LLL, ACI, BTU, AA Upgraded; HNT, AET, NVDA Downgraded

Thu, 03 Jul 2008 10:11:20 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Cowen & Co. upgrades L-3 Communications (NYSE: LLL) from Neutral to Outperform, calling the stock an "oversold safe haven." Citi upgrades Arch Coal Inc. (NYSE: ACI) and Peabody Energy Corp. (NYSE: BTU) from Hold to Buy. Soleil Securities upgrades Alcoa (NYSE: AA) from Sell to Hold with a $40 price target, citing valuation. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Goldman Sachs downgrades Health Net Inc. (NYSE: HNT) from Neutal to Sell. Goldman Sachs downgrades Aetna Inc. (NYSE: AET) from Neutral to Sell. JP Morgan, Needham & Co and Longbow Research downgrade NVIDIA (Nasdaq: NVDA) after Q2 warning. For daily

Notable Mergers and Acquisitions of the Day 7/3 (PENN, NSTR, CGNX)

Thu, 03 Jul 2008 09:46:14 -0400

StreetInsider.com Notable Mergers and Acquisitions of the Day:

Penn National Gaming, Inc. (Nasdaq: PENN) confirmed that it has entered into an agreement with Fortress Investment Group LLC (NYSE: FIG) and Centerbridge Partners, L.P. to terminate the proposed merger agreement whereby Penn National Gaming was to be acquired by PNG Acquisition Company for $67.00 per share. In connection with the termination of the merger agreement, Penn National Gaming will receive $1.475 billion, which will consist of a $225 million cash termination fee and the purchase of $1.25 billion of Penn National Gaming's redeemable preferred equity due 2015, by affiliates of Fortress, affiliates

Pre-Open Movers 7/3: NVIDIA (NVDA) Clobbered On Warning, Chindex (CHDX) Up on China Approvals

Thu, 03 Jul 2008 09:23:10 -0400

StreetInsider.com Pre-Open Movers:

NVIDIA Corporation (Nasdaq: NVDA) 26% LOWER; sees Q2 revenue of $875 million to $950 million, below the consensus of $1.1 billion. The estimated decrease in revenue and gross margin is due to several reasons: end-market weakness around the world, the delayed ramp of a next generation MCP, and price adjustments of our GPU products to respond to competitive products.

Acme Packet, Inc. (NASDAQ: APKT) 20% LOWER; sees Q2 revenues between $24.5 million and $25.5 million and Non-GAAP EPS of $0.02. The Wall Street consensus is $33.6 million and $0.09.

TranS1 Inc. (Nasdaq: TSON) 18% LOWER; announced that

After-Hours Movers 7/2: NVIDIA (NVDA) Slammed on Q2 Warning, ARYx (ARYX) Lower After P&G Walks From Partnership

Wed, 02 Jul 2008 18:12:50 -0400

StreetInsider.com After-Hours Movers: NVIDIA Corporation (Nasdaq: NVDA) 21% LOWER; sees Q2 revenue of $875 million to $950 million, below the consensus of $1.1 billion. The estimated decrease in revenue and gross margin is due to several reasons: end-market weakness around the world, the delayed ramp of a next generation MCP, and price adjustments of our GPU products to respond to competitive products. TranS1 Inc. (Nasdaq: TSON) 18% LOWER; announced that revenues for the second quarter of 2008 are expected to be approximately $5.9 to $6.0 million, lower than previously announced guidance of $6.3 to $6.5 million. ARYx Therapeutics, Inc., (NASDAQ: ARYX) 13% LOWER;

Trading Radar 7/3: Initial Jobless Claims, Nonfarm Payrolls and Unemployment Rate Due

Wed, 02 Jul 2008 17:38:53 -0400

StreetInsider.com Trading Radar: Before Market Opens: Economics: 8:30 AM ET

Initial Jobless Claims for the week of 6/28 - Street expects 385K, compared to 384K last week
Nonfarm Payrolls for June - Street expects down 60K, compared to down 49K in May
Unemployment Rate - Street expects 5.4%

Intraday or Not Specified: Economics: 10 AM ET

ISM Services for June - Street expects 51.0, compared to 51.7 in May

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Unusual 11 Mid-Day Movers 7/2: MAXY, APOL, ERII, NSTR Higher; MBRK, TTP, ALDN, DTG Lower

Wed, 02 Jul 2008 12:32:22 -0400

StreetInsider.com Unusual 11 Mid-Day Movers: MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) 55.4% LOWER; said completed its previously announced review of strategic alternatives and has entered into an agreement with Equity Group Investments, L.L.C. for a $100 million equity investment in the Company. Titan Pharmaceuticals, Inc. (AMEX: TTP) 45.8% LOWER; today announced initial analyses show that Spheramine(R) did not meet the Phase IIb clinical study's primary or key secondary endpoints, with no significant differences detected between the Spheramine and sham surgery arms of the study after 12 months of follow-up. With shares of Titan down about $0.60 today, the stock has moved

Notable Analyst Rating Changes 7/2: XOM, VSE, RAI, FITB Upgraded; DEO, PXP, UAUA Downgraded

Wed, 02 Jul 2008 09:50:58 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Sanford C. Bernstein upgrades Exxon Mobil (NYSE: XOM) from Market Perform to Outperform, citing consistent returns and strong credit rating. Oppenheimer upgrades VeraSun Energy (NYSE: VSE) from Perform to Outperform, telling clients the stock is oversold. Price target $6. Morgan Stanley upgrades Reynolds American (NYSE: RAI) from Underweight to Equalweight. Baird upgrades Fifth Third Bancorp (Nasdaq: FITB) from Neutral to Outperform, saying current capital reserves should limit downside risk. Price target $13. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: UBS downgrades Diageo plc (NYSE: DEO) from Buy to Neutral. Morgan Stanley downgrades Plains Exploration & Production (NYSE: PXP) from

Notable Mergers and Acquisitions of the Day 7/2 (BBI/CC, NVT/NOK, NSTR)

Wed, 02 Jul 2008 09:45:31 -0400

StreetInsider.com Notable Mergers and Acquisitions of the Day:

Shares of Blockbuster Inc. (NYSE: BBI) are trading 10% higher in pre-open action after the company announced that is has decided to withdraw its proposal to acquire Circuit City (NYSE: CC). BBI CEO Jim Keyes said, "Based on market conditions and the completion of our initial due diligence process, we have determined that it is not in the best interest of Blockbuster's shareholders to proceed with an acquisition of Circuit City."
NAVTEQ (NYSE: NVT) today announced that Nokia (NYSE: NOK) has received unconditional approval from the European Commission for its planned acquisition of NAVTEQ. With

Pre-Open Movers 7/2: Family Dollar (FDO) Jumps On Strong Results; Circuit City (CC) Lower After Blockbuster Walks

Wed, 02 Jul 2008 09:29:14 -0400

StreetInsider.com Pre-Open Movers:

MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) 50% LOWER; said completed its previously announced review of strategic alternatives and has entered into an agreement with Equity Group Investments, L.L.C. for a $100 million equity investment in the Company.

Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) 23% LOWER; sees Q2 revenues between $26.0 million and $26.5 million and non-GAAP EPS of $0.04. The consensus is $30.3 million and $0.27. Aladdin sees FY08 revenues between $112.0 million and $120.0 million and non-GAAP EPS of $0.48 to $0.56. The consensus is $125.8 million and $1.13.

Apollo Group (Nasdaq: APOL) 18% HIGHER; reports

After-Hours Movers 7/1: Apollo Group (APOL) Higher on Results; Lithia Motors (LAD) Lower After Pulling Guidance

Tue, 01 Jul 2008 17:49:43 -0400

StreetInsider.com After-Hours Movers: Apollo Group (Nasdaq: APOL) reports Q3 EPS of $0.85, 7 cents better than the analyst estimate of $0.78. Revenues for the quarter were $835.2 million, versus the consensus of $806.89 million. Announces a $500 million buyback. Lithia Motors, Inc. (NYSE: LAD) 9% LOWER; is withdrawing its earnings guidance for the second quarter and year-end 2008. Starbucks Corporation (NASDAQ: SBUX) 6.5% HIGHER; announced the next step in its multi-faceted plan to transform the company, with a decision to close approximately 600 underperforming company-operated stores in the U.S. market. This decision is a result of a rigorous evaluation of the U.S. company-operated

Trading Radar 7/2: Family Dollar (FDO), Acuity Brands (AYI), WD40 (WDFC) Report; ADP Employment Report, Factory Orders Due

Tue, 01 Jul 2008 17:28:38 -0400

StreetInsider.com Trading Radar: Before Market Opens: Economics: 8:15 AM ET

ADP Employment Report for June - Street expects down 20K, compared to up 40K in May

Earnings: Acuity Brands (NYSE: AYI) - consensus EPS $0.98, revs $526.50M Family Dollar (NYSE: FDO) - consensus EPS $0.40, revs $1.70B Isle of Capri Casinos (Nasdaq: ISLE) - consensus loss of $0.12, revs $301.84M Intraday or Not Specified: Economics: 10 AM ET

Factory Orders for May - Street expects 0.5%, compared to 1.1% in April

10:30 AM ET

Crude Inventories for the week of 6/28 - last weeks reading came in at 830K

After Market Closes: Earnings: WD-40 Company (Nasdaq: WDFC) - consensus EPS $0.47,

Unusual 11 Mid-Day Movers 7/1: HYGS, COIN, CIT, VSE Higher; DTG, EMKR, VLNC, AOI Lower

Tue, 01 Jul 2008 13:15:06 -0400

StreetInsider.com Unusual 11 Mid-Day Movers: Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) 38% LOWER; today announced that it does not expect to achieve the previously issued guidance for FY08 non-GAAP EPS of $1.00-$1.50 and Corporate EBITDA of $97-$115 million. Hydrogenics Corp. (Nasdaq: HYGS) 25.9% HIGHER; continues to breakout today. Since Monday of last week, shares of Hydrogenics are up more than 110%. EMCORE Corporation (Nasdaq: EMKR) 20% LOWER; yesterday announced that it has agreed to sell 2 million shares of Series D Preferred Stock of WorldWater & Solar Technologies Corporation (OTC: WWAT), together with 200,000 Warrants, to The Quercus Trust,

Notable Analyst Rating Changes 7/1: SIRI, AXP, NVDA, CTAS Upgraded; FO, ALTR, RBN Downgraded

Tue, 01 Jul 2008 09:53:05 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Merrill Lynch upgrades Sirius Satellite Radio, Inc. (Nasdaq: SIRI) from Neutral to Buy. UBS upgrades American Express Company (NYSE: AXP) from Sell to Neutral but cut its price target to $41, citing valuation which they said already reflects a weak outlook. UBS expects the company to increase forecasts for credit losses. FTN Midwest upgrades NVIDIA (Nasdaq: NVDA) from Sell to Neutral. Citi upgrades Cintas Corp (Nasdaq: CTAS) from Sell to Hold. Price target $27.50. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Wachovia downgrades Fortune Brands Inc. (NYSE: FO) from Outperform to Market Perform, following Q2 pre-announcement. Jefferies & Co

Notable Mergers and Acquisitions of the Day 7/1 (CIT, UTSI, GA)

Tue, 01 Jul 2008 09:46:59 -0400

StreetInsider.com Notable Mergers and Acquisitions of the Day:

CIT Group Inc. (NYSE: CIT) agreed to sell its Home Lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities. In a separate transaction, CIT agreed to sell its approximately $470 million manufactured housing portfolio to Vanderbilt Mortgage and Finance, Inc. for approximately $300 million. Net cash proceeds from the two transactions are expected to be approximately $1.8 billion. In the second quarter of 2008, CIT expects to record an estimated pretax

Pre-Open Movers 7/01: CIT Group (CIT) Higher on Home Lending Biz Sale; Fortune Brands (FO) Lower on Warning

Tue, 01 Jul 2008 09:30:01 -0400

StreetInsider.com Pre-Open Movers:

CIT Group Inc. (NYSE: CIT) 17% HIGHER; agreed to sell its Home Lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities. In a separate transaction, CIT agreed to sell its approximately $470 million manufactured housing portfolio to Vanderbilt Mortgage and Finance, Inc. for approximately $300 million. Net cash proceeds from the two transactions are expected to be approximately $1.8 billion. In the second quarter of 2008, CIT expects to record an estimated

After-Hours Movers 6/30: MBLX, VFC, LEH, FST Higher; QTWW Lower

Mon, 30 Jun 2008 17:51:40 -0400

StreetInsider.com After-Hours Movers: Metabolix (NASDAQ: MBLX) 12.4% HIGHER; announced that Telles(TM), its joint venture with Archer Daniels Midland Company (NYSE: ADM) that produces Mirel(TM) bioplastics, has entered into an agreement to supply Mirel bioplastic resin to Labcon North America, a leading manufacturer of laboratory supplies, for the production of its new Pagoda pipet reloading system. Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) 5.8% LOWER; reports a Q4 loss of $0.09, or a loss of $0.06 from continuing operations, 1 cent worse than the analyst estimate of ($0.05). Revenues for the quarter were $9.7 million, versus the consensus of $8.10

Trading Radar 7/1: Constellation Brands (STZ), Apollo Group (APOL) Report; Construction Spending, Auto/Truck Sales Due

Mon, 30 Jun 2008 17:25:21 -0400

StreetInsider.com Trading Radar: Before Market Opens: Earnings: Constellation Brands (NYSE: STZ) - consensus EPS $0.31, revs $906.06M Intraday or Not Specified: Economics: 10 AM ET

Construction Spending for May - Street expects -0.6%, compared to -0.4%
ISM Index for June - Street expects 48.6

12 AM ET

Auto/Truck Sales for June

After Market Closes: Earnings: Apollo Group (Nasdaq: APOL) - consensus EPS $0.78, revs $806.89M Subscribe to EasyStockAlerts and get real-time e-mail alerts when news hits your stocks!

Unusual 11 Mid-Day Movers 6/30: DDSS, HYGS, RBN, NNDS Higher; TCM, JADE, PRC, SHFL Lower

Mon, 30 Jun 2008 13:08:45 -0400

Labopharm Inc. (NASDAQ: DDSS) 43.1% HIGHER; has received a response from the U.S. FDA regarding its most recent appeal of the decision in the Agency's Approvable Letter for its once-daily tramadol formulation through the Formal Dispute Resolution process. Tongjitang Chinese Medicines Co. (NYSE: TCM) 32.5% LOWER; announced that Mr. Xiaochun Wang, Chairman of the Board of Directors and Chief Executive Officer of the Company, and Mr. Yongcun Chen, a director of the Company, have withdrawn their proposal to acquire all outstanding shares of the Company in a letter to the Board of Directors dated June 27, 2008. Hydrogenics Corp. (Nasdaq:

Notable Analyst Rating Changes 6/30: DKS, ALU, ERTS Upgraded; LVLT, WFMI, SU Downgraded

Mon, 30 Jun 2008 09:45:55 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Needham upgrades Dick's Sporting Goods (NYSE: DKS) from Hold to Buy with a $28 price target, citing valuation. Merrill Lynch upgrades Alcatel-Lucent (NYSE: ALU) from Underperform to Neutral. Soleil Securities upgrades Electronic Arts (Nasdaq: ERTS) from Hold to Buy, with a $55 price target. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Citi downgrades Level 3 Communications (Nasdaq: LVLT) from Hold to Sell. UBS downgrades Whole Foods Market (Nasdaq: WFMI) from Buy to Neutral. Price target $27. CIBC downgrades Suncor (NYSE: SU) from Sector Outperform to Sector Perform. For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades NEW COVERAGE: Oppenheimer initiates coverage on

Notable Mergers and Acquisitions of the Day 6/30 (AWH/DR, DLM, NNDS/NWS)

Mon, 30 Jun 2008 09:41:40 -0400

StreetInsider.com Notable Mergers and Acquisitions of the Day:

Allied World Assurance Company Holdings, Ltd (NYSE: AWH) and Darwin Professional Underwriters, Inc. (NYSE: DR) announced a definitive merger agreement whereby Allied World would acquire Darwin. Under the terms of the merger agreement, security holders of Darwin will receive approximately $550 million in cash, or $32.00 per share, in exchange for 100% of their interests in Darwin Professional Underwriters, Inc. Darwin clsoed at $30.20 on Friday.
Del Monte Foods Company (NYSE: DLM) entered into an agreement to sell its seafood business, including StarKist, to Dongwon for $363 million, subject to a working capital adjustment. In fiscal 2008,

Pre-Open Movers 6/30: H&R Block (HRB) Up on Results/Guidance; Myriad Genetics (MYGN) Lower on Drug Failure

Mon, 30 Jun 2008 09:27:12 -0400

StreetInsider.com Pre-Open Movers:

Red Lion Hotels Corporation (NYSE: RLH) 27% HIGHER; received an unsolicited, non-binding and conditional preliminary indication of interest to acquire the Company from Columbia Pacific Opportunity Fund, LP. Columbia also filed a Schedule 13D disclosing the preliminary indication of interest. Columbia submitted a non-binding offer to acquire all of the outstanding shares of Red Lion at cash price of $9.50 per share, representing a 35% premium to Friday's closing price of $7.05.

Tongjitang Chinese Medicines Co. (NYSE: TCM) 20% LOWER; announced that Mr. Xiaochun Wang, Chairman of the Board of Directors and Chief Executive Officer of the

Trading Radar 6/30: H&R Block (HRB), Robbins & Myers (RBN) Report

Fri, 27 Jun 2008 16:31:06 -0400

StreetInsider.com Trading Radar: After Market Closes: Earnings: H&R Block (NYSE: HRB) - Street consensus $2.03, revs $2.5B Robbins & Myers (NYSE: RBN) - Street consensus $0.59, revs $190.15M

Unusual 11 Mid-Day Movers 6/27: BDAY, ANDE, AZZ, FINL Higher; STKL, CBK, GSS, SCS Lower

Fri, 27 Jun 2008 13:23:08 -0400

Celebrate Express (Nasdaq: BDAY) 63% HIGHER; announced that it will be acquired by Liberty Media (Nasdaq: LINTA) for $3.90 per share. The Andersons, Inc. (Nasdaq: ANDE) 27.4% HIGHER; today announced that it expects its FY08 EPS to exceed previous guidance: the company now sees EPS in the range of $4.40-$4.80, up from the previous estimate of $3.65 to $4.00. The Street consensus is currently $3.79. AZZ Inc. (NYSE: AZZ) 24% HIGHER; reports Q1 earnings of $0.82 per share, above the consensus of $0.54. Revenues came in at $100 million, versus the consensus of $90.1 million. Sees FY09 EPS

Notable Analyst Rating Changes 6/27: EAT, NOVL, DHR, BMY Upgraded; WYNN, MGM, AEO, NOK Downgraded

Fri, 27 Jun 2008 09:43:56 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Goldman Sachs upgrades Brinker International Inc. (NYSE: EAT) from Sell to Neutral. Jefferies & Co upgrades Novell (Nasdaq: NOVL) from Hold to Buy, citing positive outlook. Price target $7.50. Janney Montgomery Scott upgrades Danaher (NYSE: DHR) from Neutral to Buy. Price target $90. Bernstein upgrades Bristol-Myers (NYSE: BMY) from Market Perform to Outperform. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: KeyBanc downgrades Wynn Resorts, Limited (Nasdaq: WYNN) from Hold to Underweight, with a downside price target of $70. The firm also downgraded MGM MIRAGE (NYSE: MGM) from Buy to Hold. Lazard downgrades American Eagle Outfitters (NYSE: AEO) from

Notable Mergers and Acquisitions of the Day 6/27 (VM, BDAY/LINTA, IPCM)

Fri, 27 Jun 2008 09:38:48 -0400

StreetInsider.com Notable Mergers and Acquisitions of the Day:

Virgin Mobile USA, Inc. (NYSE: VM) today announced that it has entered into an agreement to acquire Helio, a joint venture between SK Telecom and EarthLink, Inc. (Nasdaq: ELNK) providing highly advanced postpaid products and services with unique user applications. Under the terms of the agreement, Virgin Mobile USA will acquire Helio from SK Telecom and EarthLink for limited partnership units equivalent to 13 million shares of Virgin Mobile USA class A common stock, with a value of $39 million based on the closing price of Virgin Mobile USA's class A shares on June

Pre-Open Movers 6/27: Celebrate Express (BDAY) Higher on Buyout, Evergreen Solar (ESLR) Lower on Conv Pricing

Fri, 27 Jun 2008 09:28:42 -0400

StreetInsider.com Pre-Open Movers:

Celebrate Express (Nasdaq: BDAY) 60% HIGHER; announced that it will be acquired by Liberty Media (Nasdaq: LINTA) for $3.90 per share.

IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) 15.3% HIGHER; has signed a definitive agreement to acquire Hospitalists of America (HOA), headquartered in Coral Gables, Florida. Subject to completion of due diligence and other customary closing conditions, the acquisition is scheduled to close in the third quarter of 2008.Terms of the deal were not disclosed.

AZZ Inc. (NYSE: AZZ) 14% HIGHER; reports Q1 earnings of $0.82 per share, above the consensus of $0.54. Revenues came in at

After-Hours Movers 6/26: IPCM, ANDE, FINL, BRL Higher; PALM, KBH, TIBX Lower

Thu, 26 Jun 2008 17:50:25 -0400

StreetInsider.com After-Hours Movers: IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) 15.3% HIGHER; has signed a definitive agreement to acquire Hospitalists of America (HOA), headquartered in Coral Gables, Florida. Subject to completion of due diligence and other customary closing conditions, the acquisition is scheduled to close in the third quarter of 2008.Terms of the deal were not disclosed. The Andersons, Inc. (Nasdaq: ANDE) 13.1% HIGHER; today announced that it expects its FY08 EPS to exceed previous guidance: the company now sees EPS in the range of $4.40-$4.80, up from the previous estimate of $3.65 to $4.00. The Street consensus is currently

Trading Radar 6/27: KB Home (KBH) Report; Personal Income/Spending, PCE Core Inflation for May Due

Thu, 26 Jun 2008 17:28:30 -0400

StreetInsider.com Trading Radar: Before Market Opens: Economics: 8:30 AM ET

Personal Income for May - Street expects 0.4%, compared to 0.2% in April
Personal Spending for May - Street expects 0.7%, compared to 0.2% in April
PCE Core Inflation for May - Street expects 0.2%, compared to 0.1% in April

Earnings: KB Home (NYSE: KBH) - consensus loss of $0.94, revs $691.29M Subscribe to EasyStockAlerts and get real-time e-mail alerts when news hits your stocks!

Unusual 11 Mid-Day Movers 6/26: PHTN, PLUG, APPY, HTM Higher; GRO, OSK, CEM, HILL Lower

Thu, 26 Jun 2008 12:47:27 -0400

Photon Dynamics, Inc. (NASDAQ: PHTN) 31.2% HIGHER; Orbotech Ltd. (NASDAQ: ORBK) to acquire Photon Dynamics for $15.60 per share. Agria Corporation (NYSE: GRO) 28.5% LOWER; reports Q4 sales of $43.6 million and a loss, excluding items, of $0.08. Oshkosh Corporation (NYSE: OSK) 23.4% LOWER; expects a loss of approximately $1.22 to $1.32 per share for its third quarter of fiscal 2008 compared to the Company's prior EPS estimate range of $1.40 to $1.50. The expected loss relates to a non-cash charge for the impairment of goodwill to be recorded in connection with the Company's European refuse collection vehicle

Notable Analyst Rating Changes 6/26: COCO, SOLF, PTRY Upgraded; GM, RHT, GS, MGM Downgraded

Thu, 26 Jun 2008 10:08:09 -0400

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Lehman Bros. upgrades Corinthian Colleges (Nasdaq: COCO) from Equalweight to Overweight. Price target $15. Goldman Sachs upgrades Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) from Sell to Neutral. Friedman Billings upgrades The Pantry (Nasdaq: PTRY) from Market Perform to Outperform, citing attractive valuation. Price target $13.50. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Goldman Sachs downgrades GM (NYSE: GM) from Neutral to Sell, saying rising gas prices, falling consumer confidence and tighter credit conditions will weigh on profits. Oppenheimer downgrades Red Hat (NYSE: RHT) from Outperform to Market Perform. Wachovia downgrades Goldman Sachs (NYSE: GS) from Outperform