Apple to Introduce New iPod?

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

Rumors of the Day: Apple (AAPL) is 4.7% higher Wednesday afternoon, following news that the company sent out invitations for a Sept. 5 event that is expected to be some sort of iPod announcement.

Piper Jaffray analyst Gene Munster believes Apple will introduce new iPod Nanos and a new sixth-generation iPod, which may more closely resemble the iPhone, ahead of the holiday season. "Specifically, we expect the sixth-generation iPod to be a wide-screen device with multi-touch technology," Munster said. "It may also have WiFi capability, and the capacity could be as high as 160GB." Munster also said he expects that the new iPods will be based on a modified version of Apple's OS X operating system. Shares gained $5.94 at $132.76.

Barrick Gold (ABX) CEO Gregory Wilkins continues to downplay rumors of a possible acquisition. On CNBC today, Wilkins denied rumors of the company acquiring Newmont Mining (NEM). Newmont is up 68 cents to $41.75, while Barrick is gaining $1.02 to $31.84.

Today's Hot List: Borders Group (BGP), reports a second-quarter loss of 26 cents a share, excluding items, which beat estimates by 8 cents. Revenue was $945.1 million, vs. the $916.4 million consensus estimate. Led by record sales of Harry Potter and the Deathly Hallows, comparable-store sales within domestic Borders superstores increased by 4.6%. The stock increased 22 cents at $15.02.

Dillard's (DDS), reports a second-quarter loss of 31 cents, vs. the consensus estimate of a penny loss. Revenue was $1.65 billion, vs. the $1.67 billion consensus estimate. Dillard's attributes the disappointing performance primarily to a gross margin decline (190 basis points of sales), as lackluster sales during the quarter necessitated higher markdown activity to maintain acceptable inventory levels. Inventory in comparable stores at Aug. 4 declined 4%, compared with the prior year's second quarter. Shares are lower by 47 cents, or 1.9%, to $23.87.

Analyst Downgrades: CIBC downgraded Bear Stearns (BSC) to sector perform from sector outperform. CIBC believes that the stock is cheap on a price-to-book-value basis but says earnings will likely be under pressure well into 2008. CIBC removed its $159 target price. Shares lost $1.15 to $107.27.

Analyst Upgrades: Deutsche Bank said it is upgrading SupportSoft (SPRT) to buy from hold, with a $7 price target. The stock surged 44 cents to $5.50.

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