Wall Street Ends Higher On Greece Hope, DryShips (NASDAQ:DRYS) Soars

US stocks finished higher as investors sighed with relief at hopes for a new plan to deal with Greece's debt crisis.

The Dow Jones Industrial Average rose 128.21 points, or 1.03%, to finish at 12,569.79. The S&P 500 added 14.10 points, or 1.06%, to close at 1,345.20. The Nasdaq Composite climbed 38.44 points, or 1.37%, to 2,835.30.

According to the closely watched S&P Case-Shiller Index, home prices slid 4.2% in the first quarter, sending home prices back to levels not seen since mid-2002.

The Chicago Purchasing Managers index declined more than expected to 56.6 in May, from 67.6 the previous month. Economists were expecting the figure to drop to 62.5.

The Conference Board's consumer sentiment index slumped to 60.8 in May, from 65.4 in April. Economists expected consumer confidence to rise to 66.3.

Meanwhile, the Wall Street Journal on Tuesday reported that Germany is shifting its stance to consider lending more money to Greece.

Shares of Apple Inc. (NASDAQ: AAPL) rallied $10.42, or 3.09%, to $347.83 after the company said that Chief Executive Officer Steve Jobs will address an annual conference on June 6 to unveil a service that lets users store content online and tout a new version of the software that runs the iPad and iPhone.

Nokia Corp. (NYSE: NOK) slumped $1.18, or 14.39%, to $7.02 after the company lowered its second-quarter sales forecast citing lower than expected selling prices and volumes.

Shares of DryShips, Inc. (NASDAQ: DRYS) surged 33 cents, or 8.71%, to close at $4.06.

European stocks closed up. The UK FTSE rose 51.12 points, or 0.86% to 5,989.99. The German DAX and French CAC increased 1.86% and 1.63% respectively.

Asian stocks finished higher. The Nikkei 225 rose 188.76 points, or 1.99%, to 9,693.73. The Hang Seng index of Hong Kong rallied 499.81 points, or 2.16%, to 23,684.13.

Full Disclosure: None.

US Hot Stocks: NOK, LDK, FCEL, YONG, GD

Below we highlight few companies whose shares are actively trading in Tuesday's session.

Shares of Nokia Corp. (NYSE: NOK) slumped more than 14% Tuesday after the company lowered its second-quarter sales forecast citing lower than expected selling prices and volumes."Nokia now expects Devices and Services net sales to be substantially below its previously expected range of 6.1 billion to 6.6 billion euros ($8.6-9.5 billion dollars) for the second quarter 2011," the company said in a statement.

LDK Solar Co., Ltd. (NYSE: LDK) surged more than 7% after Germany said it would shut down all 17 of its nuclear reactors by 2022.  Germany is the world’s largest market for the solar sector.

FuelCell Energy, Inc. (NASDAQ: FCEL) soared more than 26% after the company announced a two-year order for 70 megawatts (MW) of fuel cell kits from POSCO Power. The total value of the order and other commitments for services is estimated to be at least $129 million with delivery of fuel cell kits beginning in October 2011 and occurring monthly through October 2013. Payment terms include a down payment and progress payments during the term of the contract, with approximately 40 percent of the contract value received by October, 2011. POSCO Power is an independent power producer in South Korea and subsidiary of POSCO, a global steel producer.

Yongye International, Inc. (NASDAQ: YONG) soared more than 48% after the Chinese plant and animal feed maker announced that that Morgan Stanley's Asian private equity arm has agreed to make a $50 million investment in the company. Yongye intends to use the proceeds to expand its production capacity, repay bank debt and for general corporate purposes.

General Dynamics Corp (NYSE: GD) jumped more than 4% Tuesday after the U.S. defense contractor  said that the U.S. Navy has awarded it a $744 million contract to produce a new type of amphibious support ship. Construction of the first ship will begin immediately, with delivery to occur by the spring of 2013. The contract includes an option for the construction of a third MLP which, if exercised, will increase the total contract value to approximately $1.3 billion.

Full Disclosure: None. 

Vermillion Rallies On Renewed Takeover Chatter

Shares of Vermillion, Inc. (NASDAQ: VRML) rallied more than 5% Tuesday on renewed speculation that the company could be a takeover target. Last week, the company announced that United States Patent and Trademark Office (USPTO) issued a notice of allowance for a patent entitled "Saposin D and Fam3C are Biomarkers for Alzheimer's Disease."  The patent claims cover the biomarkers saposin D and Fam3c as well as combinations that include these biomarkers. Vermillion, Inc. and its subsidiaries engage in the discovery, development, and commercialization of diagnostics tests that help physicians to diagnose and treat patients. Stay tuned for more.

Full Disclosure: None.

Analyst Actions: NVDA, EBAY, GS, POT, MDT

NVIDIA Corp. (NASDAQ: NVDA): Auriga upgraded its rating on Nvidia to Buy from Hold. The firm also lifted its price target on the stock to $24 from $19. Nvidia shares rallied more than 2% in Tuesday's pre-market trading.

eBay Inc. (NASDAQ: EBAY): ThinkEquity upgraded its rating on the stock to Buy from Hold to Buy Tuesday morning. The firm modestly increased its price target to $38 from $36. eBay shares rose more than 2% in Tuesday's pre-market trading.

Goldman Sachs (NYSE: GS): JP Morgan upgraded the company to Overweight from Neutral.

Potash Corp. (NYSE: POT): Citigroup raised its rating on the company to Buy from Hold citing tariffs, and electricity shortages in China. The firm upped its price target to $67 from $61.

Medtronic Inc (NYSE: MDT): Argus lowered its rating on the company to Sell from Hold. 

Full Disclosure: None.

US Hot Stocks: BAC, BRCM, VHC, MNI, AATI

Shares of Bank of America Corp. (NYSE: BAC) rallied more than 12% after The New York Times reported that Greece's major political parties are meeting in an attempt to reach a consensus on new austerity measures. Greece's leaders hope to convince the E.U. and the IMF that the country's government can implement further spending cuts and tax hikes, the newspaper said.

Broadcom Corp. (NASDAQ: BRCM) jumped more than 5% after FBR Capital Markets analyst Craig Berger added the stock to Top Picks list. The stock presented “an attractive and rare value opportunity” for investors, given the company’s growth potential, Berger wrote in a note.

VirnetX Holding Corp. (AMEX: VHC) surged more than 9% Cowen & Co. initiated coverage on the company with an Outperform rating. The firm expects the stock to beat the market by more than 40 percent over the next year because of an increased licensing revenue from the company’s patents that enable secure real-time communication.

McClatchy Company (NYSE: MNI) rallied more than 10% after the newspaper publisher said that it sold the Miami Herald's home for $236 million to Genting Malaysia Bhd. The sale includes 14 acres and the building in Miami that houses the McClatchy unit that publishes the Miami Herald and the Spanish-language El Nuevo.

Advanced Analogic Technologies, Inc. (NASDAQ: AATI) jumped more than 55 percent after tyhe company agreed to be acquired by Skyworks Solutions Inc. (NASDAQ: SWKS) for $6.13 a share. 

Full Disclosure: None.

Stocks In Focus: PCS, CVS, MHS

MetroPCS Communications Inc. (NYSE: PCS) surged more than 9% in Friday's pre-market trading after lawmakers questioned whether AT&T Inc.’s (NYSE: T) proposed acquisition of T-Mobile USA would benefit consumers. In California, state regulators moved Thursday to begin a probe of the controversial deal.

CVS Caremark (NYSE: CVS) rallied more than 3% in Friday's pre-market trading after the company confirmed that it has been awarded a three-year contract to provide integrated pharmacy benefit services for the Blue Cross and Blue Shield Government-wide Service Benefit Plan, also known as the Federal Employee Program.

Medco Health Solutions Inc (NYSE: MHS) slumped more than 11% after the company said that it was notified that the Blue Cross Blue Shield Association plans to move a $3 billion annual contract to another provider by 2012.

Full Disclosure: None.

Analyst Actions: HPQ, APC, AFL, AEG

Hewlett-Packard (NYSE: HPQ): Ticonderoga on Friday initiated coverage on the stock with a Neutral rating. In a research note to clients, the firm said, "We are initiating coverage of Hewlett-Packard with a Neutral rating, as we believe the company is currently undergoing a transition period that will weigh on margins and raises the risk profile around the stock. After underinvestment over the past few years during an aggressive cost-cutting initiative, HP's highly profitable Services business is starting to run out of steam, and this could take time to recover, while the secular headwinds in the PC market are not likely to get better in the near term. We believe this near-term to mid-term transition at the company remains in the early stages and could test the patience of investors. As such, we expect the stock to struggle for the foreseeable future and could be vulnerable to another leg down in the coming months." 

Anadarko Petroleum (NYSE: APC): Sterne Agee upgraded its rating on the stock to Buy from Neutral. 

AFLAC Inc. (NYSE: AFL): Morgan Stanley lowered its arting on the company to Equalweight from Overweight.

Aegon NV (NYSE: AEG): BofA/Merrill Lynch upgraded the company to Buy from Neutral.

Full Disclosure: None.

Wall Street Climbs As Technology Stocks Rally, General Electric Co. (NYSE: GE) Gains

US stocks finished higher on Thursday as a rally in technology sector helped offset disappointing reports on economic growth and the labor market.

The Dow Jones Industrial Average rose 8.10 points, or 0.07%, to finish at 12,402.76. The S&P 500 added 5.22 points, or 0.40%, to close at 1,325.69. The Nasdaq Composite climbed 21.54 points, or 0.78%, to 2,782.92.

In its second estimate of quarterly gross domestic product released Thursday, the Commerce Department said the U.S. economy expanded at the same 1.8% clip that was initially forecast. Economists had been expecting GDP growth to be revised up to 2.2% for the January-March quarter. The economy had expanded at a 3.1% rate in the fourth quarter.

A release by Department of Labor on Thursday showed that number of Americans filing first- time claims for unemployment benefits rose 10,000 to 424,000 in the latest week.

Tiffany & Co. (NYSE: TIF) reported Thursday that its first-quarter earnings rose to $81.1 million, or 63 cents a share, from $64.4 million, or 50 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 67 cents a share in the latest quarter. Revenue rose by 20% to $761 million. Analysts, on average, expected the company to report earnings of 57 cents per share on revenue of $703.32 million. Sharesof the company surged $6, or 8.57%, to $76.04.

Microsoft Corporation (NASDAQ: MSFT) rose 48 cents, or 1.98%, to $24.67 on Thursday after hedge-fund investor David Einhorn called for Microsoft Corp.’s board to replace Chief Executive Officer Steve Ballmer, saying the software maker suffers from “Charlie Brown management.”

Shares of General Electric Co. (NYSE: GE) rose 20 cents, or 1.04%, to close at $19.42.

European stocks closed mixed. The UK FTSE rose 10.85 points, or 0.18% to 5,880.99. The German DAX and French CAC decreased 0.79% and 0.30% respectively.

Asian stocks finished higher. The Nikkei 225 rose 139.17 points, or 1.48%, to 9,562.05. The Hang Seng index of Hong Kong added 153.51 points, or 0.67%, to 22,900.79.

Full Disclosure: None.

US Hot Stocks: MSFT, ARNA, CDTI, SYMS, EBS

Microsoft Corporation (NASDAQ: MSFT) rallied more than 2% on Thursday after hedge-fund investor David Einhorn called for Microsoft Corp.’s board to replace Chief Executive Officer Steve Ballmer, saying the software maker suffers from “Charlie Brown management.”

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) jumped more than 12% after the company presented meta-analyses of the three trials in the lorcaserin Phase 3 clinical trial program at ECO 2011, the 18th European Congress on Obesity. The analyses show that lorcaserin caused statistically significant weight loss compared to placebo at one year among 7,500 obese and overweight, diabetic and non-diabetic adults. The lorcaserin-mediated weight loss was associated with favorable changes in biomarkers that may be predictive of cardiovascular and metabolic risk and in quality of life.

Clean Diesel Technologies, Inc. (NASDAQ: CDTI) soared more than 91% after the company announced that its Heavy Duty Diesel Systems division has received nearly $2.0 million in orders for its verified (approved) emission reduction products. Clean Diesel's receipt of these orders, which represent approximately 200 emission reduction systems, follows the announcement on April 6, 2011 by the State of California's Air Resources Board (CARB) of a special compliance option for California on-road diesel fleets pertaining to the current "Truck and Bus Regulation." CARB offered an early action compliance credit for trucking fleets that install a diesel particulate filter by July 1, 2011 or that made a commitment to purchase a diesel particulate filter by May 1, 2011. The early action "buy-one-get-one-free" credit applies to heavier trucks and there is no limit on how many trucks in the fleet can earn the early adoption credit.

Syms Corp. (NASDAQ: SYMS) soared more than 33% after the apparel retailer said that it has hired Rothschild Inc. to explore strategic options for the company.

Emergent BioSolutions Inc. (NYSE: EBS) jumped more than 21% after the company announced that the U.S. government has indicated its intention to award Emergent a sole source contract for the purchase of 44.75 million doses of BioThrax for inclusion in the Strategic National Stockpile over a 5 year period. BioThrax is the only vaccine licensed by the U.S. Food and Drug Administration to protect against anthrax infection. Emergent anticipates finalizing a contract with the U.S. government during the third quarter of 2011.

Full Disclosure: None.

Analyst Actions: ORCL, RSH, FITB, AEO, CMA

Oracle Corp. (NASDAQ: ORCL): ThinkEquity on Thursday upgraded its rating on the company to Buy from Hold.

RadioShack (NYSE: RSH): Goldman Sachs this morning downgraded its rating on the stock  to Neutral from Buy. In a research note to clients, Goldman cited RadioShack's Q1 results for its decision.

Fifth Third Bancorp (NASDAQ: FITB): Sanford C. Bernstein upgraded the company to Outperform from Market Perform.

American Eagle Outfitters (NYSE: AEO): Lazard Capital lowered its rating on the company  to Sell from Neutral.

Comerica (NYSE: CMA): Oppenheimer upgraded the stock to Outperform from Perform. 

Full Disclosure: None.

Wall Street Ends Higher As Oil Rallies, DryShips (NASDAQ: DRYS) Soars

US stocks finished higher on Wednesday as a rally in oil prices helped offset worries about the global economic recovery.

The Dow Jones Industrial Average rose 38.45 points, or 0.31%, to finish at 12,394.66. The S&P 500 added 4.19 points, or 0.32%, to close at 1,320.47. The Nasdaq Composite climbed 15.22 points, or 0.55%, to 2,761.38.

The Commerce Department reported Wednesday that orders of durable orders  fell 3.6% last month, versus a forecasted 2% decline.

NYMEX crude oil for July delivery rallied $1.73 or 1.7% to close at $101.32 a barrel.

Polo Ralph Lauren Corp. (NYSE: RL) said Wednesday that its fiscal fourth-quarter profit dropped to $73.2 million, or 74 cents a share, from $114.1 million, or $1.13 a share, in the year-ago quarter. Revenue increased 7.1% to $1.38 billion. Analysts, on average, expected the company to report earnings of 79 cents a share on revenue of $1.41 billion. Shares of the company sank $14.69, or 11.35%, to close at $114.70.

Suntech Power Holdings Co. Ltd. (NYSE: STP) reported Wednesday that its first-quarter profit rose to $31.9 million, or 17 cents per American Depository Share or ADS, compared to $20.71 million, or 11 cents per share, in the prior-year quarter. Revenue climbed to $877.00 million from $588.03 million last year. Analysts, on average, expected the company to report earnings of 36 cents per share on revenue of $864.82 million. Shares of the company slumped 25 cents, or 3.26%, to $7.41.

Shares of DryShips, Inc. (NASDAQ: DRYS) rallied 12 cents, or 3.31%, to close at $3.75.

European stocks closed up. The UK FTSE rose 11.73 points, or 0.20% to 5,870.14. The German DAX and French CAC increased 0.28% and 0.31% respectively.

Asian stocks finished lower. The Nikkei 225 fell 54.29 points, or 0.17%, to 9,422.88. The Hang Seng index of Hong Kong added 16.50 points, or 0.07%, to 22,747.28.

Full Disclosure: None.

OmniVision Technologies (NASDAQ: OVTI): Q4 Earnings Preview 2011

OmniVision Technologies Inc. (NASDAQ: OVTI) is scheduled to release its fiscal fourth-quarter earnings after the closing bell on Thursday, May 26, 2011. Analysts, on average, expect the company to report earnings of 65 cents per share on revenue of $254.48 million. In the year ago quarter, the company reported earnings of 18 cents per share on revenue of $157.15 million.

OmniVision Technologies, Inc. designs, develops, and markets semiconductor image-sensor devices.  Its main products, image-sensing devices, which it refers to as CameraChip image sensors, capture an image electronically and are used in a number of consumer and commercial mass-market applications. 

In the preceding fourth-quarter, the New York-based company's net income was $44.72 million, or 75 cents per share, compared to $4.95 million, or 9 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 84 cents a share in the fourth quarter. Revenue increased to $265.68 million from $156.93 million last year. Analysts, on average, had expected the company to report earnings of 58 cents per share on revenue of $241.74 million. 

At its last earnings call in February, the company said that it expects GAAP fourth-quarter earnings in the range of 48 cents and 61 cents per share. Non-GAAP earnings is expected in the range of 57 cents and 0 cents per share. Quarterly revenues are expected in the range of $240 million to $260 million.

OmniVision specializes in making camera chips for digital devices. The company's CMOS imaging technology enables superior image quality in many of today's consumer and commercial applications, including mobile phones, notebooks, netbooks, and webcams, security and surveillance, entertainment, digital still and video cameras, automotive, and medical imaging systems. With a customer list that includes Apple's (NASDAQ: AAPL) iPhone and iPad lines, Motorola Mobility (NYSE: MMI) , and Research In Motion (NASDAQ: RIMM), OmniVision finds itself at the top of the heap for imaging.The company claims 28% market share in all CMOS markets; its closest competitor is Samsung with 20% market share. The camera phone market is OmniVision’s core market, where the company continues to benefit from the rapid growth in smartphones. The company has not only maintained its leadership position in the camera phone market, but has also successfully expanded into other areas. The company recently bought a portfolio of 850 image-sensor patents from Eastman Kodak (NYSE: EK). 

Given that the tablet market is growing in leaps and bounds and OmniVision sensors are designed into many of them, the category should see some strong growth this year. In February, the company's management stated that tablets incorporating its sensors would ship later this year. 

Full Disclosure: None.

Tiffany & Co. (NYSE: TIF): Q1 Earnings Preview 2011

Tiffany & Co. (NYSE: TIF), the world's second-largest luxury jewelry retailer, is scheduled to release its first-quarter earnings before the opening bell on Thursday, May 26, 2011. Analysts, on average, expect the company to report earnings of 57 cents per share on revenue of $703.32 million. In the year ago quarter, the company reported earnings of 48 cents per share on revenue of $633.59 million.

Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry. The company also sells timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. 

In the preceding fourth-quarter, the New York-based company's net income was $181.22 million, or $1.41 per share, compared to $140.37 million, or $1.10 per share, in the year-ago quarter. On an adjusted basis, the company earned $1.44 a share in the fourth quarter. Revenue rose 12% to $1.10 billion from $981.38 million. Analysts, on average, had expected the company to report earnings of $1.39 per share on revenue of $1.1 billion. 

At its last earnings call in March, the company cut its first quarter earnings outlook. Tiffany said that it now expects earnings to be approximately 57 cents per share, lower than previous forecast of 62 cents per share. The $0.05 per share reduction in earnings forecast reflects a 15 percent anticipated decline in Japan sales due to the recent tragic events in that country. 24% of its 233 stores around the world are in Japan. However, worldwide sales for the quarter are projected to rise 11 percent.

For the year ending January 31, 2012, the company expects net earnings, excluding nonrecurring items, to increase by 14 percent to 18 percent to $3.35 - $3.45 per share on worldwide net sales growth of 12 percent to 14 percent.

Tiffany is well-positioned to capture the rising tide in the global standard of living.. Tiffany holds a significant position in the world jewelry market and is poised to benefit from its increased geographic reach. The company now plans to expand its distribution network by adding stores in both the new and existing markets. Over the next five years, the company plans to open upwards of 20 new stores in China to go along with six in the Americas and three in Europe.  The economic emergence of China and India has filled the pockets of each country's middle class with disposable income. An appetite for luxury has accompanied this newfound affluence, helping the sector by providing new rapidly growing markets to take advantage of. The company has also been concentrating more on smaller-sized store formats that offer selected collections of lower-priced, higher-margin products.

However, there are several headwinds that are a cause for concern. The fallout of the natural disaster in Japan has had a huge impact on the mentality of Japanese consumers.Another concern for the sector is rising commodity costs. While the sector has an untypical ability to pass costs along to its consumers because of the discretionary nature of its products, its margins will be pressured in the short-term.

Full Disclosure: None.

US Hot Stocks: SIRI, AAPL, GMO, QTWW, MSO

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI) rallied more than 3% after Moody's lifted the company's debt ratings from B3 to B2 and raised its probability of default rating from B2 to B1.

Apple Inc. (NASDAQ: AAPL) rose more than 2% after Wedbush Securities analyst Scott Sutherland lifted his price target on the stock to $450 from $445, and raised his estimates for this year and next on the prospect Apple has “enough horsepower to drive continued revenue growth and upside to estimates.” Sutherland also reiterated his Outperform ratng on the stock.

Shares of General Moly, Inc. (AMEX: GMO) soared more than 17% after the company posted slides from the upcoming Goldman Sachs Basic Materials conference on their website. On valuation, General Moly said with $15/lb moly prices (current price) NPV for GMO is $15.17 per share, or 3.75x the current price. The company also said the Mercator transaction values GMO at $7.05 per share, or 1.75x the current share price.

Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) jumped more than 40% after the company announced that it has received a contract to deliver 100+ plug-in hybrid electric (PHEV) pickup truck fleet vehicles powered by Dow Kokam lithium ion battery technology to The Dow Chemical Company (NYSE: DOW).

Martha Stewart Living Omnimedia Inc. (NYSE: MSO) rallied more than 25% on Wednesday after the company said that it has retained the investment firm Blackstone Advisory Partners to explore strategic partnerships. The company executives said that Blackstone will review and respond to parties that have approached it about partnering with or investing in the company, "as well as other opportunities." The company said there is no assurance the move will result in a partnership or transaction.

Full Disclosure: None.

Marvell Technology Group (NASDAQ: MRVL): Q1 Earnings Preview 2012

Marvell Technology Group Ltd. (NASDAQ: MRVL) is scheduled to release its fiscal first-quarter earnings after the closing bell on Thursday, May 26, 2011. Analysts, on average, expect the company to report earnings of 30 cents per share on revenue of $825.89 million. In the year ago period, the company reported earnings of 50 cents per share on revenue of $1.17 billion.

Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, and digital signal processing and embedded microprocessor integrated circuits. The Company develops complex system-on-a-chip (SoC) devices using its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing and embedded advanced RISC machine (ARM)-based microprocessor integrated circuits. 

In the preceding fiscal fourth-quarter, the Sunnyvale, California-based company's net income was $223 million, or 33 cents per share, compared to $205 million, or 31 cents per share, in the prior year quarter. On an adjusted basis, the company earned 40 cents per share in the fourth quarter. Revenue rose 7% to $901 million from $843 million in the preceding year period. Analysts, on average, expected the company to report earnings of 42 cents per share on revenue of $925.64 million.

At its last earnings call in March, Marvell warned that revenue would drop this quarter. It said revenue in the first quarter would be between $800 million and $850 million, the midpoint representing an worse-than-expected 8 percent dip from the fourth quarter. Executives told analysts that they anticipate a plunge of more than 20 percent in mobile and wireless revenue , while storage sales will slip by a mid-single digit percentage from the previous quarter.

Marvell is a fabless semiconductor company, meaning that they outsource the actual production of their semiconductors to other factories. Marvell’s revenue growth has primary come from sales of its semiconductors designed for data storage.

After a period of weakness during the recession, the Semiconductor- Integrated Circuit sector has enjoyed a strong rebound on the back of increasing consumer demand for smartphone technology. As consumers helped shipments of smartphones grow 71% during 2010, the sector saw booming revenues for companies like Marvell Technology Group Ltd. Tablet PC releases furthered this strength and the Integrated circuits sector should continue on solid ground so long as these devices remain popular

However, Marvell is fending off intensifying competition in smartphone processors from the likes of Nvidia (NASDAQ: NVDA) and Qualcomm (NASDAQ: QCOM), and it supplies chips for BlackBerry-maker Research In Motion. (NASDAQ: RIMM).

Full Disclosure: None.

Polo Ralph Lauren Corp. (NYSE: RL): Q4 2011 Earnings Roundup

Polo Ralph Lauren Corp. (NYSE: RL) said Wednesday that its fiscal fourth-quarter profit dropped to $73.2 million, or 74 cents a share, from $114.1 million, or $1.13 a share, in the year-ago quarter. Revenue increased 7.1% to $1.38 billion. Analysts, on average, expected the company to report earnings of 79 cents a share on revenue of $1.41 billion. 

In the first quarter of Fiscal 2012, the Company expects consolidated revenues to increase in the mid 20% range. Wholesale revenues are expected to grow at a low 20% rate in the first quarter and retail revenues are expected to grow slightly faster, including comparable store sales that are projected to increase by a low double-digit rate. The Company expects the operating margin from continuing operations for the first quarter of Fiscal 2012 to be approximately equivalent to that in the comparable prior year period.

The company currently expects consolidated revenues for Fiscal 2012 to increase by a mid teens percentage, with retail revenues growing slightly faster than wholesale revenues. Based on the anticipated impact of cost of goods inflation and increased investment in strategic growth initiatives, in addition to business disruption in Japan, the Company expects the operating margin from continuing operations for Fiscal 2012 to be 100 - 150 basis points below the prior year. The full year Fiscal 2012 tax rate is estimated at 33%. Capital expenditures are planned at approximately $325 million in Fiscal 2012.

Full Disclosure: None.

Stocks In Focus: BSX, CPKI, AIG, NTWK

Boston Scientific Corporation (NYSE: BSX) rallied more than 3% in Wednesday's pre-market trading after the company announced that it has received U.S. FDA approval to market its 2.25 mm PROMUS Everolimus-Eluting Coronary Stent System for use in vessels as small as 2.25 mm in diameter. The company said that it plans to immediately launch the product in the U.S.

California Pizza Kitchen, Inc. (NASDAQ: CPKI) jumped more than 9% after the company agreed to be acquired by an affiliate of Golden Gate Capital for $18.50 per share in cash, or approximately $470 million. The purchase price represents a 32% premium to the 30-day average price prior to the Company's Board of Directors authorizing management to begin exploring strategic and financial alternatives on February 23, 2010, and a 15% premium to the 30-day average price prior to the announcement of the transaction. The transaction is currently expected to close in the third quarter of this year.

American International Group, Inc. (NYSE: AIG) declined more than 2% in pre-market trading after the company announced that the registered public offering of 300 million shares of AIG common stock, par value $2.50 per share, by AIG and the U.S. Department of the Treasury, as the selling shareholder, was priced at $29.00 per share. One hundred million shares will be issued and sold by AIG and 200 million shares will be sold by Treasury. Treasury has also granted the underwriters an option to purchase up to 45 million additional shares to cover sales of shares in excess of those 300 million shares. AIG will not receive any of the proceeds from the sale of the shares of AIG common stock by Treasury.

Netsol Technologies Inc. (NASDAQ: NTWK) surged more than 9% after the company announced that it has signed a multimillion-dollar agreement to implement the complete back-office Retail module of its NetSol Financial Suite platform for a major auto captive finance company based in Tokyo, Japan.

Full Disclosure: None.

Analyst Actions: HAL, JNPR, SAPE, PCS, CNW

Halliburton (NYSE: HAL): Morgan Stanley on Wednesday upgraded its rating on the company to Overweight from Equal Weight. The firm lifted its price target on the stock to $85 from $66.

Juniper Networks (NYSE: JNPR): Auriga lowered its rating on the company to Hold from Buy. The firm slashed its price target on the stock to $40 from $50. 

Sapient (NASDAQ: SAPE): Goldman Sachs downgraded its rating on Sapient to Neutral from Buy and removed the stock from their Conviction Buy List.

Metro PCS (NYSE: PCS): Citadel Securities on Wednesday initiated coverage on the company with a Neutral rating and a price target of $18.

Con-way Inc. (NYSE: CNW): BofA/Merrill Lynch upgraded its rating on the stock to Buy from Neutral.

Full Disclosure: None.

Suntech Power (NYSE: STP): Q1 2011 Earnings Roundup

Suntech Power Holdings Co. Ltd. (NYSE: STP) reported Wednesday that its first-quarter profit rose to $31.9 million, or 17 cents per American Depository Share or ADS, compared to $20.71 million, or 11 cents per share, in the prior-year quarter. Revenue climbed to $877.00 million from $588.03 million last year. Analysts, on average, expected the company to report earnings of 36 cents per share on revenue of $864.82 million. 

"The first quarter of 2011 was a solid quarter that demonstrated the resilience of Suntech's business model under challenging market conditions," said Dr. Zhengrong Shi, Chairman and CEO. "Despite a slight sequential decline in our shipments related to policy uncertainty in Italy, a long winter in Germany and first quarter seasonality, we improved our gross margin from the fourth quarter and continued to diversify our sales across global markets. These outcomes reflect our ongoing efforts to enhance our competitiveness, mitigate policy risk, and position Suntech to increase our share in high-growth emerging markets. In particular, we were pleased to see greater demand in the Chinese solar market during the first quarter."

In the second quarter of 2011, Suntech expects low single digit growth of PV shipments and relatively flat gross margin compared with the first quarter of 2011.

For the fiscal year ending December 31, 2011, Suntech reiterated shipment guidance of 2.2GW of solar products. Due to pricing pressure, Suntech has revised its full year revenue guidance to a range of $3.3 billion to $3.5 billion, subject to changes in foreign exchange rates. Consolidated gross margin for the full year 2011 is now expected to be in the high teens.

Suntech expects to achieve 2.4GW of installed cell and module production capacity by the end of the second quarter 2011, of which 600MW of PV cell capacity will be owned and operated by a joint venture. Suntech expects to achieve 1.2GW of installed wafer capacity by the end of 2011. Full year 2011 capital expenditure expectations are maintained in the range of $250 million to $270 million.

Guidance is based on an assumed exchange rate of $1.41 USD to the Euro.

Full Disclosure: None.

Wall Street Slides On Growth Worries, Sprint Nextel (NYSE: S) Rallies

US stocks finished lower on Monday as as lingering worries about a slowdown in growth more than offset gains in energy shares.

The Dow Jones Industrial Average slipped 25.05 points, or 0.20%, to finish at 12,356.21. The S&P 500 shed 1.09 points, or 0.08%, to close at 1,316.28. The Nasdaq Composite dropped 12.74 points, or 0.46%, to 2,746.16.

The Commerce Bureau reported Tuesday reported Tuesday that new home sales rose 7.3% to an annual rate of 323,000 units in April. Economists were looking for an annual rate of 300,000 sales for April.

Medtronic, Inc. (NYSE: MDT) said Tuesday that its fourth-quarter profit declined to $776 million, or 72 cents a share, from $954 million, or 86 cents a share, in the prior-year quarter. Revenue climbed to $4.30 billion, from $4.20 billion a year ago. Analysts, on average, expected the company to report earnings of 93 cents per share on revenue of $4.29 billion. Shares of the company lost 38 cents, or 0.92%, to close at $40.088. 

El Paso Corporation (NSE: EP) jumped more than 6% after the company announced that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011. The company also raised its full-year adjusted earnings outlook to $1 to $1.10 a share. It previously expected to earn 90 cents to $1.05 a share. El Paso also boosted its guidance because its results to date have exceeded expectations. Shares of the company soared $1.24, or 6.53%, to close at $20.22.

Shares of Sprint Nextel Corp. (NYSE: S) soared 27 cents, or 4.85%, to close at $5.84.

European stocks closed down. The UK FTSE rose 22.52 points, or 0.39% to 5,858.41. The German DAX and French CAC increased 0.41% and 0.25% respectively.

Asian stocks finished lower. The Nikkei 225 fell 146.45 points, or 1.52%, to 9,460.63. The Hang Seng index of Hong Kong added 19.76 points, or 2.11%, to 22,711.02.

Full Disclosure: None.

TiVo Inc. (NASDAQ: TIVO): Q1 2012 Earnings Roundup

TiVo Inc. (NASDAQ: TIVO) reported Tuesday that itswung to a first quarter profit of $139 million, or $1.04 a share, compared with a loss of $14.2 million, or 13 cents, in the year-ago period. Revenue declined to $38.8 million from $43.2 million. Analysts, on average, expected the company to post a loss of 31 cents per share on revenue of $41.98 million. 

Tom Rogers, President and CEO of TiVo, said, "This has been a memorable quarter for TiVo. The recent historic half billion dollar settlement with DISH Network highlights the significant value of our intellectual property and creates a recurring high margin licensing revenue stream that greatly enhances our financial profile. Additionally, our momentum as a leader in advanced television continued through deals now in place that include significant guarantees with domestic or international providers that have more than 10 million subscribers. We believe these deals, along with our arrangements with Comcast, Cox and also DirecTV, give us the opportunity to drive significant subscription growth. This quarter we believe we are beginning to see early signs that our strategy is working as evidenced by the reduction in MSO/Broadcaster subscription losses, which are being driven by larger contributions from our new distribution deals as well as lower legacy DirecTV churn. We believe the stage is set for TiVo to continue to be at the forefront of advanced television innovation with a strong, proven portfolio of intellectual property, and growing momentum from our television service provider relationships around the world."

Looking ahead, Tivo said that it expects second-quarter net loss to be in the range of $25 million to $27 million.

Full Disclosure: None.

NetApp, Inc. (NASDAQ: NTAP): Q4 Earnings Preview 2011

NetApp Inc. (NASDAQ: NTAP) is scheduled to release its fiscal third-quarter earnings after the closing bell on Wednesday, May 25, 2011. Analysts, on average, expect the company to report earnings of 53 cents per share on revenue of $1.39 billion. In the year ago period, the company reported earnings of 50 cents per share on revenue of $1.17 billion.

NetApp, Inc. provides enterprise storage and data management software and hardware products and services in the United States and internationally. The Company offers solutions for storing, managing, protecting and archiving business data.

In the preceding fiscal fourth-quarter, the Sunnyvale, California-based company's net income was $172.5 million, or 42 cents per share, compared to $107.9 million, or 30 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 52 cents per share in the latest quarter. Revenue increased to $1.27 billion from $1.01 billion. Analysts, on average, expected the company to report earnings of 50 cents per share on revenue of $1.28 billion.

At its last earnings call in February, NetApp said that it expects adjusted earnings in the range of $0.49 to $0.53 per share for the fourth quarter. Revenues for the quarter are expected to be about $1.380 billion, plus or minus 2 percent, which equates to approximately 15 percent to 20 percent year over year revenue growth.

NetApp is the third-biggest seller of external computer- storage systems -- technology that helps companies store information more efficiently while letting them access the data from anywhere. NetApp is doing well, despite the stiff competition from technical behemoths such as International Business Machines Inc. (NYSE: IBM) and EMC Corporation (NYSE: EMC) in the data storage and management software space.

NetApp is likely to continue gaining storage market share as increased adoption of cloud leads to higher demand for virtualized storage infrastructure. NetApp is making significant efforts to expand its share in the cloud storage. The firm recently acquired Akorri Networks, a virtualization software company that extends NetApp’s ability to provide customers with comprehensive tools to automate and analyze their shared IT infrastructures, efficiently deliver on service levels, and respond to rapidly changing business needs. 

Among other developments, NetApp recently completed its acquisition of the Engenio external storage systems business, the company said Monday. The business data storage company announced the $480 million deal with LSI Corp. in March. The deal will allow NetApp to potentially expand its market reach. Engenio generated $705 million in revenue in 2010. The company expects the deal to be accretive to GAAP and non-GAAP earnings per share by the second quarter of 2012.

Full Disclosure: None.

AboveNet Soars On Takeover Chatter

Shares of AboveNet, Inc. (NYSE: ABVT) surged more than 10% on Tuesday after DealReporter said that the company has retained JPMorgan to explore possible sale. AboveNet, Inc., together with its subsidiaries, provides high-bandwidth connectivity solutions to corporate enterprise clients and communication carriers primarily in the United States and the United Kingdom. 

Full Disclosure: None.  

US Hot Stocks: AKS, EP, SIFY, VRX, INVE

AK Steel (NYSE: AKS) rallied more than 3% on Tuesday after the company announced that it will increase current spot market base prices for all carbon flat-rolled steel products, effective immediately with new orders. Base prices will increase by $50 per ton for hot rolled and cold rolled carbon steel products, and by $60 per ton for coated carbon steel products. AK Steel said that the price increase is needed to recover higher costs for steelmaking inputs, and is supported by a recent increase in the order intake rate for carbon steel products.

El Paso Corporation (NSE: EP) jumped more than 6% after the company announced that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011. The company also raised its full-year adjusted earnings outlook to $1 to $1.10 a share. It previously expected to earn 90 cents to $1.05 a share. El Paso also boosted its guidance because its results to date have exceeded expectations.

Sify Technologies Limited (NASDAQ: SIFY) soared more than 35% after the company announced partnership with Deutsche Telekom International Carrier Sales & Solutions, the international wholesalearm of Deutsche Telekom. This partnership will provide customers and partners with top-of-the-line IP and VPN services in India and Europe, by leveraging on each others investments in Submarine, Terrestrial Networks and local network reach as well as regional partnership to reach new growth markets in South Asian, Middle East & Africa markets.

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) rallied more than 4% after the company agreed to acquire Lithuania-based AB Sanitas for about €314 million ($442.1 million) in cash, and assume about €50 million of debt.

Identive Group, Inc. (NASDAQ: INVE) sank more than 12% after the company announced that it has priced its underwritten public offering in the United States of 7,843,137 shares of its common stock at a price to the public of $2.55 per share. The gross proceeds to Identive, before underwriting discounts and commissions and other offering expenses, from the sale of the shares is expected to be approximately $20,000,000. Cowen and Company, LLC and Morgan Joseph TriArtisan LLC are underwriters and joint book-running managers for the public offering. Identive also granted the underwriters a 30-day option to purchase up to 1,176,470 additional shares to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately $23,000,000. The offering is expected to close on May 27, 2011, subject to customary closing conditions. Identive intends to use the net proceeds it receives from the offerings to fund continued growth, acquisitions, working capital and general corporate purposes.

Full Disclosure: None.  

Analyst Actions: CRM, RIMM, HPQ, MS, MYL

Salesforce.com (NYSE: CRM): Morgan Stanley on Tuesday upgraded its rating on the company to Overweight from Equal Weight. In a reseearch note to clients, the firm said that it believes the move towards cloud computing will accelerate above Street estimates and that Salesforce.com will be able to sustain 25%+ billings growth. 

Research In Motion Ltd. (NASDAQ: RIMM): Wunderlich Securities downgraded its rating on the company to Hold from Buy. The firm cut its price target on the stock to $46 from $76.

Hewlett-Packard (NYSE: HPQ): Morgan Stanley downgraded its rating on the companu to Equalweight from Overweight. 

Morgan Stanley (NYSE: MS): Citigroup this morning initiated coverage on the stock with a Buy rating. 

Mylan Labs (NASDAQ: MYL): Argus on Tuesday  raised its rating on Mylan to Buy from Hold.

Full Disclosure: None.