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Patriot Coal (NYSE:PCX): Amid the company’s efforts to secure a new loan package, Patriot Coal (NYSE:PCX) stock is climbing, analysts attribute this jump to short-covering activity. PCX was exceptionally popular in the options pits, with both calls and puts flying off the shelves.
Seagate Technology (NASDAQ:STX): Seagate cites the lower market share growth as an isolated supplier quality issue. Their June quarter’s shortfall was due primarily to two factors. First, they did not achieve their planned market share growth because of reduced shipments that were in response to the faster than expected recovery from their supply chain disruption. Secondly, they experienced an isolated supplier quality issue affecting one of their enterprise product lines. This issue impacted shipments by approximately 1.5 million units and drove their non-GAAP gross margin below their targeted plan. This was disappointing, but they reacted quickly and conservatively by suspending shipments of the affected products. They alleviated the issue and have resumed fulfilling their supply commitments to customers, said Steve Luczo, Seagate chairman and chief executive officer.
Oracle (NASDAQ:ORCL): Oppenheimer increased its target on Oracle from $30 to $33, after reviewing the company’s database technologies. Oracle’s database business is likely to experience above average industry growth over the next few years, so the company is more confident. They view the stock’s valuation as attractive and maintain an Outperform rating.
General Electric (NYSE:GE): Due to the declining price of solar panels, General Electric (NYSE:GE) has been forced to delay the building of their panel manufacturing plant, in Colorado, according to Financial Times.
Zynga (NASDAQ:ZNGA): Yesterday, Electronic Arts officially launched SimCity Social, the latest Facebook iteration of the seminal societal simulation game. EA has Zynga’s, market-dominating CityVille, squarely in its sights, signaled by its description of SimCity Social as, “the real social city-building simulation.”
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