(GRMN - Get Report)
jumped 5.3% on analysts' reports that the company's personal navigation devices were a hit in early holiday shopping. Big retailers including
offered Garmin's products, with significant discounts as part of their early promotional items on Black Friday. The strong demand for navigation devices and Garmin's position as a market leader could help the company beat estimates for the fourth quarter, said analysts. Garmin was up $4.85 to $96.71.
(VMW - Get Report)
fell $7.59, or 9.6%, to $71.25 after a report Friday by Cowen & Co. suggesting that the stock was overvalued. The report noted VMware could see upside potential in the fourth quarter but the underlying trend in numbers shows that growth is likely to decelerate by mid-2008.
(EMC - Get Report)
, which holds an 86% stake in VMware, was down 5.8% to $17.38. Cowen kicked off its coverage of EMC with a neutral rating.
One of the big losers for the day,
, increased by $20 million its allowance for credit losses in response to pressure on the housing market and the homebuilding sector. Shares of the Houston banking company crumbled 24% to $4.25.
Nataxis Bleichroeder initiated coverage on
(MDVN - Get Report)
with a sell rating and a target price of $5. The firm said it has low confidence that Medivation's lead compound, Dimebon for Alzheimer's disease, will ever make it to market. "But even if it does, and we give the company credit for its Huntington's Disease and prostate cancer programs, our valuation analysis still suggests a $5 price target."