Stockpickr: Accredited Home Lenders Reignites

OmniVision Technologies(OVTI Quote) reported first-quarter earnings of 23 cents, or 35 cents excludig items. Analysts were looking for 18 cents a share. Revenue came in at $173.1 million vs. the consensus of $160.25 million. The chipmaker now predicts second-quarter revenue of $210 million to $230 million, vs. the consensus of $170.7 million, and second-quarter adjusted EPS of 34 cents to 36 cents, vs. the consensus of 22 cents. The stock is trading about 5% higher at $20.89.

Analyst Downgrades: Bear Stearns downgraded Sears Holdings(SHLD Quote) to peer perform from outperform. The firm also cut estimates and lowered the stock's target price to $155, as the fundamentals in the retail business continue to deteriorate. Bear said the stock also lacks near-term catalysts. Shares, however, were 1% higher at $143.29 in recent trading.

Analyst Upgrades: Merrill Lynch upgraded Open Text(OTEX Quote) from sell to neutral, citing the company's solid quarterly results but also noting that uncertainty about future growth remains. Shares of the software company surged 25% to $25.09.

Latest Activist Situations: In a regulatory filing on Pride International(PDE Quote), Skagen Funds, a Norwegian investment company, disclosed a 9.03% stake (15 million shares) in the oil and gas drilling company. StreetInsider.com's 13D Tracker notes: "In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they believe the shares are undervalued and said they may enter discussions with the company or others." Shares jumped 2.8% to $35.31.