Macy's Buyout Rumors Resurface

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

Rumors of the Day: A Bernstein analyst suggested that Yahoo!(YHOO Quote) should outsource paid search, cut staff and restructure display advertising, according to StreetInsider.com. The firm said the moves, while unlikely, could boost Yahoo!'s income by $1.6 billion and the stock's price to $45. Yahoo! shares jumped $1 to $24.72.

Takeover rumors boosted Macy's(M Quote) shares in early action Friday. The retailer, whose shares carried a premium during the buyout boom, have tumbled more recently as credit woes have put a damper on deals, according to StreetInsider.com. Private equity's prospects may have been lifted Friday, however, when Cadbury Schweppes(CSG Quote) rejected a bid to acquire its drink business, it added. Macy's shares added $1.21 to $30.47, while Schweppes lost 96 cents at $46.74.

Today's Hot List: Lattice Semiconductor(LSCC Quote) offered a more pessimistic view for the third quarter. The chipmaker sees revenue ranging from flat to down 2% vs. the year-ago period. It earlier predicted revenue would be flat to up 4%. Lattice attributed the decline to a quicker-than-expected decline of "mature" products and said new products will continue to grow in the quarter. Shares plunged 71 cents, or 12.8%, to $4.85.

Analyst Downgrades: Robert Baird downgraded paper product maker Avery Dennison(AVY Quote) to neutral from outperform and dropped its price target to $64. The firm expressed near-term concerns about lower high-end clear film sales and surprise weakness in Europe. The stock dropped 75 cents to $55.

Analyst Upgrades: Credit Suisse upgraded Calamos Asset Management(CLMS Quote) to outperform from neutral, based on improved fund performance and net flow expectations. The firm raised its price target to $29 from $27. Calamos spiked $1.44 to $24.95.

Latest Activist Situations: In a regulatory filing, Riley Investment Management disclosed a 4.9% stake in Silicon Storage Technology(SSTI Quote), noting it believes the shares are "significantly undervalued." The firm said it hopes management shares its "sense of urgency" about the stock's underwhelming performance, warning that it could seek changes on the chipmaker's board if the company did not. Silicon Storage Technology shares sank 11 cents to $3.21.