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Ann Inc. (NYSE:ANN): Ann Inc.’s fiscal year 2012 gross margin rate performance is expected to be in the neighborhood of 55%, with their total selling general and administrative expenses expected to approach $1.140 billion. The company’s effective annual tax rate is anticipated to be around 40%, with capital expenditures at approximately $160 million. Their total weighted average square footage for the fiscal year 2012 is expected to increase slightly, reflecting the opening of roughly 65 new stores, which are partially offset by the downsizing of Ann Taylor stores and about 30 store closings. The Company expects to have approximately 985 stores at the end of their fiscal. Shares of Ann Inc. are trading at 21.89% higher today.
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Brocade Communications Systems, Inc. (NASDAQ:BRCD): Ahead of the bell, and thanks to a higher than expected quarterly earnings results, Brocade Communications Systems, Inc. received a slew of upward price target adjustments. Specifically, Baird raised their stock from $6 to $7, while Thinkequity, FBN Securities, and UBS also lifted their respective price targets. Currently, the equity boasts a 12 month climb of about 70%, and has bested the broader Standard and Poors 500 Index (SPX) by an increase of 12 percentage points. It stands to reason that calls outweigh puts, as evidenced the security’s 20-day ISE/CBOE/PHLX call/put volume ratio of 3.72. In other words, during the last four weeks, calls bought to open have nearly quadrupled puts. Shares of Brocade Communications Systems, Inc. are trading at 2.09% higher today.
Marvell Technology Group Ltd. (NASDAQ:MRVL): As the chip maker continued to suffer from weaker demand in their core businesses, Marvell Technology Group Ltd.’s (NASDAQ:MRVL) fiscal second quarter earnings declined by 52%. Results fell short of company estimates and shares fell 7.3% in after-hours trading to $11.38, their stock was down 11% so far this year. “Our results in the second quarter were affected primarily by the slowdown in the macro-economic environment that impacted our storage and mobile end markets,” said Chief Executive Sehat Sutardja. Shares of Marvell Technology Group Ltd. are trading at 15.19% lower today.
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX): Idenix Pharmaceuticals, Inc.’s shares were upgraded, this morning, by Brean Murray, and JPMorgan added the stock to their Focus List. Shares of Idenix Pharmaceuticals, Inc. are trading at 1.03% higher today.
Geron Corporation (NASDAQ:GERN): After a report touted the company’s cancer drugs that are under development, Geron Corporation (GERN), a Menlo Park, California based bio-technology company, gained the most in almost two months. Though their shares lost 38% over the last 12 months, they rose 15% to $1.97 in their biggest intra-day advance since June 22. Shares of Geron Corporation are trading at 0.99% lower today.
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