Big move today in Isilon Systems: shares of the storage systems company have jumped $1.08, or 19.9 percent, to $6.49, on volume of more than 660,000 shares, or more than 4x the daily average. Today’s rise boosts the company’s three-day rally to 33 percent.
So, what’s going on here?
Well, here’s what I know.
Faint praise seems the order of the day when dipping into depressed stock prices. Needham & Co.’s Charlie Wolf this morning upgraded shares of Research in Motion (RIMM) from “Underperform” to “Hold,” writing that the fall in price from $105 in July to $60 and change today fairly reflects potential for slowing of sales of BlackBerrys to consumers in the quarter ending next month.
On the heels of Netflix’s (NFLX) problems last week getting DVDs out the door to subscribers, Needham & Co. analyst Charlie Wolf initiated coverage this morning of Blockbuster (BBI) with a “Hold” rating.
Talk about the horse and the barn door.
Amid a 38-percent plunge in shares of chipmaker Anadigics (ANAD) following a gloomy pre-announcement last night, analyst Pierre MacCagno of Needham & Company today reiterated his “strong buy” rating on the stock while cutting his price target from $14 to $6. Thanks for the heads-up.
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