Friday, May 27, 2011


Shares of Bank of America Corp. (NYSE: BAC) rallied more than 12% after The New York Times reported that Greece's major political parties are meeting in an attempt to reach a consensus on new austerity measures. Greece's leaders hope to convince the E.U. and the IMF that the country's government can implement further spending cuts and tax hikes, the newspaper said.

Broadcom Corp. (NASDAQ: BRCM) jumped more than 5% after FBR Capital Markets analyst Craig Berger added the stock to Top Picks list. The stock presented “an attractive and rare value opportunity” for investors, given the company’s growth potential, Berger wrote in a note.

VirnetX Holding Corp. (AMEX: VHC) surged more than 9% Cowen & Co. initiated coverage on the company with an Outperform rating. The firm expects the stock to beat the market by more than 40 percent over the next year because of an increased licensing revenue from the company’s patents that enable secure real-time communication.

McClatchy Company (NYSE: MNI) rallied more than 10% after the newspaper publisher said that it sold the Miami Herald's home for $236 million to Genting Malaysia Bhd. The sale includes 14 acres and the building in Miami that houses the McClatchy unit that publishes the Miami Herald and the Spanish-language El Nuevo.

Advanced Analogic Technologies, Inc. (NASDAQ: AATI) jumped more than 55 percent after tyhe company agreed to be acquired by Skyworks Solutions Inc. (NASDAQ: SWKS) for $6.13 a share. 

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