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

:

Accredited Home Lenders

( LEND) is trading higher on news that Lone Star will amend its bid for the mortgage company. The investment firm is prepared to offer $8.50 a share, a price that represents a 35% premium over LEND's Thursday closing price but is also well below the $15.10-per-share offer it previously made. The revised offer raised investor hopes that a deal would actually get done and launched shares 40% higher at $8.86.

One questionable rumor making the rounds is raising some eyebrows on Wall Street: Is

Microsoft

(MSFT) - Get Microsoft Corporation (MSFT) Report

really looking to buy

Research In Motion

( RIMM)? Greg Palmer, head of equity trading at Pacific Crest Securities, said in a

Bloomberg

report, "it doesn't make sense because they've already got a handheld product." Microsoft is up 1.4% at $28.84, while RIM is 2.5% higher at $84.95.

Today's Hit List

:

Dell

(DELL) - Get Dell Technologies Inc Class C Report

reported second-quarter earnings of 32 cents a share, 2 cents better than the Wall Street estimate. Revenue was $14.8 billion vs. the $14.6 billion consensus estimate. However, shares of the computer maker did not react positively, dropping 10 cents to $28.36 in recent trading.

TheStreet Recommends

OmniVision Technologies

(OVTI)

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)

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) - Get Open Text Corporation Report

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), 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.

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