Monday October 8

• PDUFA date for Theravance Inc's (NASDAQ: THRX) Telavancin for complicated skin and soft tissue infections caused by gram-positive bacteria

• Yum! Brands Inc (NYSE: YUM) to report Q3 earnings; conference call at 9:15am
• Optimal Group Inc (NASDAQ: OPMR) to hold conference call at 11am to discuss the WowWee acquisition
• Penn Treaty American Corporation (NYSE: PTA) to hold operational update at 11am
• Alcoa Inc (NYSE: AA) to report Q3 earnings; conference call at 5pm

• Costco Wholesale Corporation (NASDAQ: COST) to report Q4 earnings; conference call at 11am
• Hot Topic Inc (NASDAQ: HOTT) and Zumiez Inc (NASDAQ: ZUMZ) reporting monthly sales at 4pm

• Pepsico Inc (NYSE: PEP) to report Q4 earnings; conference call at 11am
• Bebe Stores Inc (NASDAQ: BEBE) to report monthly sales at 7am, Limited Brands Inc (NYSE: LTD) and The Children's Place Retail Stores Inc (NASDAQ: PLCE) at 7:30am, The Gymboree Corporation (NASDAQ: GYMB) at 7:55am, AnnTaylor Stores Corporation (NYSE: ANN), Gap Inc (NYSE: GPS) and Wal-Mart Stores Inc (NYSE: WMT) at 8am, Target Corporation (NYSE: TGT) at 8:30am.

• PDUFA date for GlaxoSmithKline Plc's (NYSE: GSK) Hycamtin for relapsed Small Cell Lung Cancer

Market highlights for next week: YUM, AA, COST, PEP to report originally appeared on BloggingStocks on Fri, 05 Oct 2007 16:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Openwave Systems Inc (NASDAQ: OPWV) was downgraded to Underperform from Buy at Needham, as the firm no longer believes the company's assets and balance sheet are worth $11/share and expects the franchise to be again disrupted due to layoffs and asset sales. Openwave was also downgraded to Neutral from Overweight at JP Morgan, to Hold from Buy at Wedbush after no superior bid emerged to Harbinger's, and to Sector Underperformer from Outperformer at CIBC World Markets, which cited reduced prospects of a buyout.

• Trump Entertainment Resorts Inc (NASDAQ: TRMP) was downgraded to Underperform from Peer Perform at Bear Stearns citing valuation as upside from a takeout at current levels is remote.

• Accredited Home Lenders Holding Co (NASDAQ: LEND) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods following its acquisition by Lone Star for $400M.

• Bebe Stores Inc (NASDAQ: BEBE) was downgraded to Market Perform from Outperform at Friedman Billings citing new merchandise that lacks a significant casual component to drive business, tough comps, aggressively planned inventory levels for 2H, and the potential for sustained negative comps during the next few quarters.

• Friedman Billings also downgraded Aladdin Knowledge Systems Limited (NASDAQ: ALDN) to Market Perform from Outperform based on valuation and challenges in the U.S. market.

• General Mills Inc (NYSE: GIS) was downgraded to Peer Perform from outperform at Bear Stearns on valuation and concerns with the turnaround plan for Big G cereal division.

Analyst downgrades 6-05-07: OPWV, TRMP and LEND originally appeared on BloggingStocks on Tue, 05 Jun 2007 11:40:00 EST. Please see our terms for use of feeds.