During Wednesday’s market trading action, the DJIA is off over 100 points to 12,172, the S&P 500 Index is trading above 1,250 and the Nasdaq is trading at 2,598. Here are the stocks driving the Wall Street trader chatter today:

EMCORE Corporation (NASDAQ:EMKR): Shares of EMCORE Corporation are trading higher 17% today. The company delivered a wider than expected loss in its earnings report yesterday. Shares are popping heavily following yesterday’s selloff. EMCORE Corporation offers a broad portfolio of products for the broadband, fiber optic, satellite and terrestrial solar power markets. The Company’s products include optical components and systems for high-speed data and telecommunications networks, cable television, and fiber-to-the-premises applications, and products for both satellite and terrestrial power generation.

Cavium Inc (NASDAQ:CAVM): Shares of Cavium Inc are trading lower 1.9% today. The company reduced its financial guidance due to weak demand from both the enterprise and service provider markets. Cavium Networks, Inc. provides semiconductor processors that enable intelligent networking, communications and security applications. The Company offers a broad portfolio of software compatible processors and accelerator boards ranging in performance from 10 Mbps to 10 Gbps.

Sears Holdings Corporation (NASDAQ:SHLD): Shares of Sears Holdings Corporation are trading slightly lower today. Following yesterday’s plunge, Goldman Sachs remains bearish on shares, cutting their price target from $43 to $30. Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn and garden products, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.

Arctic Cat Inc. (NASDAQ:ACAT): Shares of Arctic Cat Inc. are trading higher 20% today. The company announced a cash buyback of 6.1 mln class B shares from Suzuki Motor, Arctic Cat Inc. designs, engineers, manufactures, and markets snowmobiles and all-terrain vehicles under the Arctic Cat brand name. The Company also sells personal watercraft products under the Tigershark brand name. In addition, Arctic Cat sells related parts, garments, and accessories.

Medicis Pharmaceutical Corporation (NYSE:MRX): Shares of Medicis Pharmaceutical Corporation are trading lower 2% today. The company reduced its fourth quarter earnings guidance. Medicis Pharmaceutical Corporation provides pharmaceuticals focusing on the treatment of dermatological, pediatric, and podiatric conditions, as well as aesthetics medicine. The Company has branded prescription products in therapeutic categories such as acne, asthma, eczema, fungal infections, hyperpigmentation, photoaging, psoriasis, and rosacea.

Endeavour International Corporation (NYSE:END): Shares of Endeavour International Corporation are trading higher 12% today. Rodman & Renshaw raised its rating to Outperform from Market Perform with a $12.50 target price. The analyst report issues 2012 upside on strong, oil-weighted production growth. Endeavour International Corporation is an international oil and gas exploration and production company that acquires, explores, and develops energy reserves. The Company conducts operations in the North Sea sectors of the United Kingdom and Norway. Endeavor holds license rights to a 3-D seismic dataset of the North Sea.

Noble Energy, Inc. (NYSE:NBL): Shares of Noble Energy, Inc. are trading flat today. Noble Energy, Inc. is an independent energy exploration and production company. The Company explores for and produces crude oil, natural gas, and natural gas liquids. Noble Energy operates primarily in the Rocky Mountains, Mid-continent, and deepwater Gulf of Mexico areas in the US, with key international operations offshore Israel, the North Sea and West Africa.

Whirlpool Corporation (NYSE:WHR): Shares of Whirlpool Corporation are trading flat today. The company’s shares sold off on the negative news out of retailer Sears Holdings’ store closings. Sears is a distributor of Whirlpool’s products at the retail level. Whirlpool Corporation manufactures and markets major home appliances. The Company’s principal products include laundry appliances, refrigeration and room air conditioning equipment, cooking appliances, dishwashers, and mixers and other small household appliances. Whirlpool’s products are sold worldwide

Piedmont Natural Gas Company Inc. (NYSE:PNY): Shares of Piedmont Natural Gas Company Inc. are trading off almost 1% today. Piedmont Natural Gas Company, Inc. is an energy and services company that primarily transports, distributes, and sells natural gas. The Company serves residential, commercial, and industrial customers in North Carolina, South Carolina, and Tennessee. Piedmont also, through subsidiaries, markets natural gas to customers in Georgia, and distributes propane in various states.

Bank of America Corporation (NYSE:BAC): Shares of Bank of America Corporation are trading lower 3% today. Europe’s central bank reported its overnight deposits hit another record, dragging major banking stocks down today on the fearful news. Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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