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Overstock.com (NASDAQ: OSTK) 4.2% LOWER; BofA/Merrill Lynch downgraded from Buy to Underperform.
Noodles & Company (NASDAQ: NDLS) 3.6% HIGHER; Friday's hot IPO continues higher
Zynga, Inc. (NASDAQ: ZNGA) 3.1% HIGHER; continues higher on excitement for new CEO
Deutsche Bank AG (NYSE: DB) 2.9% LOWER; Standard & Poor's Ratings Services today said it lowered its long-term counterparty credit rating
Alcoa (NYSE: AA) 2.6% LOWER; JPMorgan downgraded from Buy to Neutral, while its $12 price target with a December 2014 target of $9.
Linn Energy, LLC (NASDAQ: LINE) 2.2% LOWER; continues lower after 18.7% sell-off Tuesday.
Avanir Pharmaceuticals, Inc. (Nasdaq: AVNR) 1.6% LOWER; Avanir and OptiNose AS today announced that the companies have entered into an exclusive North American license agreement for the development and commercialization of OptiNose's novel Breath Powered intranasal delivery system containing low-dose sumatriptan powder to treat acute migraine. If approved, this product would be the first and only fast-acting, dry-powder nasal delivery form of sumatriptan. Under the terms of the agreement, OptiNose received an upfront cash payment of $20 million and is eligible to receive certain shared development costs and up to an additional $90 million in total linked to the achievement of future clinical, regulatory and commercial milestones. In addition, if approved, Avanir will make tiered royalty payments based on net sales in North America.
Entropic (Nasdaq: ENTR) 1.2% LOWER; narrowed its previously announced financial guidance for the second quarter of 2013 to the low end of the revenue range. Entropic now expects revenue of approximately $70 million and is reaffirming prior guidance for non-GAAP earnings per share of $0.00 for the second quarter. The Street is looking for a break even loss and revs of $71.56 million in Q2.
Best Buy Co., Inc. (NYSE: BBY) 1.2% HIGHER; Goldman Sachs reinstated coverage on Best Buy with a Buy rating and a price target of $34.00. Analyst Matthew J. Fassler thinks Best Buy's new initiatives, including its alliance with Microsoft (Nasdaq: MSFT), will drive numbers higher.
Linn Co, LLC (NASDAQ: LNCO) 1.2% LOWER; continues lower after 16.6% sell-off Tuesday.
Cablevision Systems Corporation (NYSE: CVC) 1% LOWER; filed an emergency application for a stay with the Chief Justice of the United States seeking an immediate suspension of the National Labor Relations Board's (NLRB) active pursuit of complaints against the Company. The Company is seeking immediate relief from the Supreme Court to stay an upcoming administrative trial. Chief Justice Roberts acts as the Circuit Justice for the D.C. Circuit.
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