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Imaging3, Inc. (IMGG), VaxGen, Inc. (VXGN), and Applied DNA Sciences Inc. (APDN) were among today’s top OTC market movers. VaxGen, Inc. (VXGN.OB: 0.769 +11.45%), which develops biologic products for the treatment of human disease, saw its shares jump more than 10 percent after its AIDSVAX – which is now held by a non-profit organization called Global [...]

Investors Business Daily has an article out on Emergent BioSolutions (EBS) that could read straight out of the blog - namely, it has a customer whose pockets are endless and a long sight line on revenue (a rarity in this market) - remember, we have 2 names who rely on government and ironically both are up today in the casino (AVAV being the other). The one thing missing from the story is the recent shelf filing (Nov 13: Emergent BioSolutions Files Shelf Offering) which has the potential to cause some serious dilution - the market has dismissed this completely; after a quick fall on the news, the stock has skyrocketed right back up. Nothing really new for blog readers but thought I'd put the story up due to the positive notice of this small cap[More...]

UPGRADES
Five Star Quality Care FVE Davenport Neutral » Buy
SI International SINT BB&T Capital Mkts Hold » Buy
Forest Labs FRX AmTech Research Neutral » Buy
Vaxgen VXGN Punk, Ziegel & Co Mkt Perform » Accumulate
ITT Industries ITT Credit Suisse Neutral » Outperform
Teradyne TER HSBC Securities Neutral » Overweight
Boeing BA Wachovia Mkt Perform » Outperform
Laboratory Corp LH Wachovia Mkt Perform » Outperform
Virgin Mobile USA VM Soleil Sell » Hold
Bankrate RATE Bear Stearns Peer Perform » Outperform
Celgene CELG Banc of America Sec Neutral » Buy
FEMSA FMX JP Morgan Neutral » Overweight
National Grid NGG Lehman Brothers Equal-weight » Overweight
Kimberly-Clark KMB Lehman Brothers Underweight » Equal-weight
Deere DE Banc of America Sec Neutral » Buy
Aetna AET JP Morgan Neutral » Overweight
DIRECTV DTV Bernstein Underperform » Mkt Perform
Grant Prideco GRP UBS Neutral » Buy
Air France KLM AKH Citigroup Hold » Buy
Royal Philips Electronics PHG Deutsche Securities Hold » Buy
Tidewater TDW Jefferies & Co Hold » Buy
OmniVision OVTI Robert W. Baird Underperform » Neutral

DOWNGRADES
Buckeye Partners BPL SMH Capital Buy » Sell
Sasol SSL Bear Stearns Outperform » Peer Perform
Public Storage PSA Wachovia Outperform » Mkt Perform
Amer. 1st Tax Exempt Inv. ATAXZ RBC Capital Mkts Outperform » Sector Perform
Intersil ISIL Jefferies & Co Buy » Hold
Casey's General CASY Friedman Billings Outperform » Mkt Perform
Freddie Mac FRE UBS Buy » Neutral
Fannie Mae FNM UBS Buy » Neutral
Sierra Pacific SRP Deutsche Securities Buy » Hold
First Marblehead FMD Friedman Billings Mkt Perform » Underperform

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