Wall Street retreated from recent series of historic gains, as investors evaluated a mixed bag of retail reports and a couple of disagreeing employment readings.
In corporate news, BG Medicine, Inc. (NASDAQ:BGMD) after first automated version of the BGM Galectin-3 blood test obtained a CE Mark on Wednesday.[article_detail_ad_1]
SunPower Corporation (NASDAQ:SPWR) is rising the most in the stock market after Lazard Capital Markets LLC upgraded it on higher sales visibility. Lazard analysts Sanjay Shrestha and Aditya Satghare wrote in a note sent to investors that large-scale utility solar plants, comparable to the projects that Buffett’s MidAmerican Energy Holdings Co. decided to acquire, and cost cuts will help improve financial results through 2014. They upgraded the stock from neutral to buy.
Sonus Networks, Inc. (NASDAQ:SONS) jumped over 8% and Alcatel Lucent SA (ADR) (NYSE:ALU) more than 10% after a report that it will be showcasing a dozen new cloud-based service concepts involving 26 ng Connect Program members at CES 2013.
Amicus Therapeutics, Inc. (NASDAQ:FOLD) rallied about 14% after Janney Capital initiated coverage on the FOLD stock, setting a “buy” rating and a $7.00 price target.
Zalicus Inc (NASDAQ:ZLCS) advanced 8% after it started the second of two Phase 2a Studies with Z160 and provided an overview of 2012 accomplishments.
Zogenix, Inc. (NASDAQ:ZGNX) gained about 6% after DURECT Corp declared that its licensee, Zogenix Inc, declared optimistic single-dose pharmacokinetic (PK) results from the Phase 1 clinical trial of Relday. It is an investigational candidate of a once-monthly subcutaneous formulation of risperidone to be used as the treatment of schizophrenia.
On the flip side, Allot Communications Ltd. (NASDAQ:ALLT) suffered new low after Oppenheimer downgraded the stock (ALLT) from an “outperform” rating to a “perform” rating.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) lost 17% after stating it now predicts fourth-quarter revenue in a range of $119 million to $121 million, down as compared to its prior estimate of $145 million to $150 million. The average forecast is for revenues of $148.26 million.
Longwei Petroleum Investment Hold Ltd (NYSEAMEX:LPH) tumbled 50% after providing a full-year guidance.
Family Dollar Stores, Inc. (NYSE:FDO) fell 11% after its fiscal Q1 earnings failed to meet expectations as the discount retailer reported a holiday selling season that was more difficult than predicted, according to Chief Executive Howard R. Levine. The company also reduced its annual profit outlook.
General Growth Properties Inc (NYSE:GGP) was down after Activist investor William Ackman’s Pershing Square Capital Management said it is not willing to force a sale of General Growth Properties Inc after it was unable to secure an offer for the No. 2 U.S. mall owner.