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Major Movers on March 25; VECO, APOL, KWK, BBRY, JASO, IDIX, RHT, FB, VHS

Shares of Veeco Instruments Inc. (NASDAQ:VECO) rallied on Monday after analysts at Canaccord Genuity boosted their rating on the stock to “buy” from “sell”, citing that LED market has bottomed out and stock offers attractive valuation.

Earlier on March 19th, analysts at Zacks lifted their rating on the stock to a “neutral” from “underperform” and raised the price target to $35.40 a share. On March 1st analysts at Northland Securities initiated coverage on the stock with a “market perform” rating and price target of $29 a share.

Shares of Apollo Group Inc. (NASDAQ: APOL) rallied. In spite 79% drop in fiscal second quarter profit, adjusted earnings and revenue edged past Street’s estimate. After adjusting for onetime items such as restructuring expenses, Apollo Group reported earnings of 34 cents a share while Street’s consensus estimate was for 18 cents a share. Revenue in the second quarter declined 13% to $834.4 million; however, it bettered Wall Street’s forecast of $823 million. Operating marketing shrank to 3.6% from 10.8%, in the year earlier quarter as marketing costs jumped.

Quicksilver Resources Inc. (NYSE: KWK) gained after the oil-and-gas exploration and production company said that its loss both for the fiscal fourth quarter and full-year were lower than previously estimated. The Company said that mistakes made in accounting for derivatives inflated losses.

Research in Motion (NASDAQ: BBRY) fell about 3.50% by midday trade on Monday after Goldman Sachs downwardly revised its rating on stock to “neutral” from “buy”. The downgrade comes after Research in Motion’s generation-next model Z10 failed to generate any enthusiasm among U.S. consumers. Goldman Sachs said that Z10 launch at AT&T was “disappointing”.  Z10 was launched on Friday.

JA Solar Holdings Co. Ltd. (ADR)  (NASDAQ: JASO)  tumbled on Monday after the Chinese solar-products maker reported wider-than-anticipated fiscal fourth quarter loss as top line continued to feel the pinch due to excess demand and supply mismatch.

Shares of Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) slumped about 15.50% by afternoon trade after the U.S. Patent and Trademark Office gave unfavorable ruling against  Idenix Pharmaceutical’s  patent application for specific compounds meant for the treatment of hepatitis C.

Share of Red Hat (NYSE: RHT) fell about 4.80% after Raymond James slashed their rating on the stock to “market perform” from “outperform”.

Shares of Facebook Inc. (NASDAQ: FB) edged down after the Regulators approved Nasdaq OMX Group Inc.’s plan to give out US$62-million in compensation to market makers  its mishandling of Facebook Inc.’s public debut, dealing a blow to Wall Street firms that claim  to have  lost many times that amount.

Vanguard Health Systems Inc. (NYSE:VHS) slumped after the company said its Medicaid health plan in Arizona wasn’t awarded a new contract from the state. The decision was came as huge setback for the company, which can put dent on earnings even as it ends vanguard’s near 30 year dominance in the local Medicaid Program. Although the healthcare chain is primarily known for operating more than two dozen hospitals, it health plan business consists of more than 186,000 people on Medicaid in Arizona.


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