Wednesday, July 6, 2011


Shares of General Motors Co. (NYSE: GM) rose more than 1% after Morgan Stanley said it is replacing Ford (NYSE: F) with General Motors as its "Top Pick" in the Autos sector. The firm feels GM has room for upside surprises on sales, mix and pricing this quarter. 

News Corp. (NASDAQ: NWSA) plunged more than 3% after British Prime Minister David Cameron on Wednesday said that there should be an official inquiry into a phone-hacking scandal at Rupert Murdoch's News International which has prompted national outrage.

OmniVision Technologies Inc. (NASDAQ: OVTI) plunged more than 5% on speculation that the company may lose its status as lead socket supplier for Apple Inc. (NASDAQ: AAPL), FBR Capital analyst Craig Berger said in a note. OmniVision may have missed a commercial production deadline, possibly losing its lead supplier status to Sony Corp. (NYSE: SNE), Berger said.

Merge Healthcare Inc. (NASDAQ: MRGE) rallied more than 3% on Wednesday on speculation that the company coul be a takeover target.

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