The Day's WinnersSemiconductor company Cree (CREE) was up 20% to $13.17 after the company raised its fourth-quarter revenue targets on stronger demand for LED products. The company now expects sequential revenue growth of 8% to 11%, up from previous guidance of 5%. Cree also sees revenue in the first fiscal quarter up 5% from its fourth-quarter results. Shares of Genzyme Molecular Oncology (GZMO) were climbing 65% to $4.20 after the biotech company said Friday that its experimental cancer treatment showed positive results in early stage laboratory testing. The company also said it had been granted clearance to test the kidney cancer treatment on patients in clinical trials beginning within the next two months.
NDS (NNDS), the 80%-controlled software arm of media conglomerate News Corp (NWS), added about 30% on news that Vivendi (V) had agreed to drop its industrial sabotage lawsuit. Vivendi accused NDS of encouraging piracy against its pay television service, but the lawsuit has been put on hold pending the outcome of News Corp.'s deal to buy Vivendi's Italian pay television business. Assuming the deal goes through, Vivendi has agreed to drop the lawsuit. Shares of NDS were up to $14.50 recently. priceline.com (PCLN) was gaining almost 14% to $4.35 after the company reiterated its second-quarter outlook Friday and said it was moving more of its advertising money to the Internet. priceline still expects second-quarter pro forma earnings of 3 cents to 5 cents a share on revenue of $320 million to $350 million. The company said strength in its hotel business has helped offset declines in airline ticket purchases. priceline also plans to shift about one-third of its advertising dollars to the Internet, which it said will save it money by more effectively targeting online travel users. The stock was also upgraded to buy from hold by CIBC. SilverStream Software (SSSW) jumped 73% to $8.90 on news that Novell (NOVL) plans to acquire the Web services company for $9 a share. The total purchase price will be about $212 million in cash. The $9 offer price is a 75% premium to SilverStream's Friday close of $5.14. The transaction is expected to close in July, assuming regulatory and shareholder approval.