The Stocks Wall Street Is Watching

The following stocks may be
impacted due to significant news as noted:

Merrill Lynch has upgraded select semiconductor
stocks due to valuation. Upgraded to "buy" from "neutral" are Agere Systems
(
AGR.A |
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Intersil
(
ISIL |
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, Marvell Tech
(
MRVL |
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Maxim Integrated
(
MXIM |
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, Semtech Corp.
(
SMTC |
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, Taiwan
Semi

(
TSM |
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, and Xilinx
(
XLNX |
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.

In the biotech sector Cephalon has guided
lower for the first-quarter despite beating its fourth-quarter estimates by
$0.05 wit profits of $0.41 per share. The stock has also been downgraded by
Lehman to "equal-weight" from "overweight".

Also in the biotech sector, Biogen
(
BGEN |
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is down in the pre-market after it was announced European approval for its drug
Amevive has been delayed.

Retailer JC Penny
(
JCP |
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has beat its
fourth-quarter earnings estimates by $0.02 with profits of $0.68 per share.

Medical equipment maker Guidant
(
GDT |
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has
been upgraded by Morgan Stanley to "overweight" from "equal-weight".

Pre-market action:


(
OVTI |
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+12%,
(
AN |
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+7.4%,
(
NXTL |
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+6.7%,
(
CNXT |
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+6.5%,
(
VTSS |
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+6.5%,
(
CIEN |
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+6%,
(
ATML |
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+4.5%,
(
KOSP |
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+3%,
(
ISIL |
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+3%,
(
BRCM |
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+2.5%,
(
INTC |
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+2.4%,
(
JNPR |
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+1.7%.


(
ADCT |
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-11%,
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THQI |
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-10%,
(
ITMN |
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-7.5%,
(
CEPH |
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-6.6%,
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CRAY |
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-4%,
(
SNPS |
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-2.2%.