Stockpickr Staff
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: A report in Light Reading suggests that Tellabs(TLAB Quote - Cramer on TLAB - Stock Picks) is still in talks with potential buyers and that Nortel Network(NT Quote - Cramer on NT - Stock Picks) has joined the list of courters. Tellabs shares are up 4% at $10.70, while Nortel is slipping 0.6% at $17.49 in recent trading Thursday. The Wall Street Journal reports that Apple(AAPL Quote - Cramer on AAPL - Stock Picks) is in talks with Volkswagen for the possibility of an 'iCar'. Steve Jobs and the Volkswagen chief spoke several days ago and plan to meet for further discussions. Apple shares rose 2% to $136.83 in recent trading. Today's Hit List: Finish Line(FINL Quote - Cramer on FINL - Stock Picks) issued the following statement regarding the fiscal second-quarter financial results reported today by Genesco(GCO Quote - Cramer on GCO - Stock Picks):The company is disappointed with Genesco's second quarter fiscal 2008 financial results. Consistent with its responsibilities to The Finish Line's shareholders, the company is evaluating its options in accordance with the terms of the merger agreement. The company does not intend to make further comments at this time.In June, Finish Line agreed to acquire fellow apparel retailer Genesco for $54.50 a share. On Thursday, Genesco shares were losing 12% to $43.97, while Finish Line was climbing 12% to $6.42. Ciena(CIEN Quote - Cramer on CIEN - Stock Picks) was also moving Thursday on earnings. The optical-network-gear manufacturer reported third-quarter profit of 41 cents a share, excluding items -- 10 cents better than Wall Street estimates. Revenue came in at $205 million, vs. the consensus of $203.3 million. The stock dipped 3% to $37.17 in recent trading. Analyst Downgrades: Keybanc cut its rating on Collective Brands(PSS Quote - Cramer on PSS - Stock Picks) from aggressive buy to bold. Second-quarter results missed expectations, but the footwear retailer's long-term trends look favorable. Shares fell more than 6% to $23.27 in recent trading.
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