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Ellie Mae (NYSE:ELLI): On Friday, after the Treasury Department announced that it had ordered Fannie Mae and Freddie Mac to wind down their investment portfolios, ThinkEquity thinks that the order will have little or no impact on Ellie Mae’s model for the near future. The firm predicts that the company will continue to benefit from several current trends, and it maintains a $30 target and Buy rating on the stock.
Marina Biotech, Inc. (NASDAQ:MRNA) gave an update on its operations. The company is still seeking adequate funding for the implementation of its business plan and it has entered into a licensing agreement with Novartis (NYSE:NVS) Institutes for Biomedical Research for Marina Biotech’s Conformationally Restricted Nucleotide technology for the development of both single- and double-stranded oligonucleotide therapeutics, for which it was given $1 million in upfront fees. Also, the company negotiated with certain of its unsecured creditors to lower its cash obligations via the issuance of shares of common stock. The company has committed to issue an aggregate of approximately 3.2 million shares of common stock for the settlement of outstanding amounts due to such vendors in the aggregate amount of approximately $1.1 million.
China Kanghui Holdings (NYSE:KH) reported stronger than expected results, causing Piper Jaffray to believe that the company is in the position to gain market share and it expects investors to be pleased with the results. The firm keeps an Overweight rating on the stock.
Phillips-Van Heusen Corp. (NYSE:PVH) shares were removed because of an automatic time demotion.
Amazon.com Inc. (NASDAQ:AMZN): According to Piper Jaffray, Best Buy’s (NYSE:BBY) difficulties may cause Street estimates for Amazon’s (NASDAQ:AMZN) 2013 revenue growth to rise to 30 percent from 28 percent. Piper believes that many analysts have not factored in the positive impact that future Best Buy store closings will have on Amazon. The firm reiterates an Overweight rating on the stock.
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