Stockpickr Lists: Could Sale Follow PDL CEO Ouster?

Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts, or are experiencing activist situations or some other market moving events.

Rumors of the Day: The resignation of PDL BioPharma(PDLI) CEO Mark McDade could reignite takeover talk for the biopharmaceutical company. Hedge fund Third Point, a major shareholder, has been pushing for McDade's ouster and agitating for a sale. PDL on Monday announced that a three-month internal investigation of McDade found no credible evidence of improper personal conduct or breach of fiduciary duty. Nevertheless, McDade decided to step down by the end of the year. The stock was rising $1.30 to $22.46.

Today's Hit List: Thornburg Mortgage(TMA) announced the sale of a substantial portion of its AAA-rated mortgage securities portfolio and a significant reduction in its borrowings portfolio. The company cited challenges in meeting its liquidity and financing needs caused by rapidly declining mortgage securities prices and simultaneous declines in the value of its hedging instruments as reasons for its actions. Shares were getting beat down $1.66, or 11%, to $13.38.

Analyst Downgrades: Keefe, Bruyette & Woods downgraded Countrywide Financial(CFC) to underperform from market perform. The firm, which lowered its price target for the company to $18, said loss of thrift deposits is a meaningful risk for the company. The stock is trading lower, down $1.45 to $20.

Analyst Upgrades: AG Edwards upgraded Anheuser Busch(BUD) to buy from hold and set a $54 price target. The firm said the stock's recent pullback has moved it to a discount in light of its improving fundamentals. Shares are climbing 60 cents at $47.86.

Latest Activist Situations: In a regulatory filing on Capital Southwest(CSWC), Ned Sherwood disclosed a 6.6% stake in the company and called for its complete liquidation. Shares dipped $1.57 to $127.55.

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