So far this year, the shares of Atheros Communications (NASDAQ: ATHR) have performed quite nicely, almost doubling. The company develops sophisticated semiconductor solutions for wireless and wired communications.

Now, Atheros wants to bulk up; that is, the company has agreed to pay $244 million for Intellon (NASDAQ: ITLN).

MOST NOTEWORTHY: Novartis, Waste Systems, AirMedia Group, and PAETEC Holding were today's noteworthy initiations:

• Novartis (NYSE: NVS) was initated with a Neutral at Cowen, which cited the company's upcoming patent expirations.
  
• Gabelli initiated Waste Systems (NASDAQ: WSII) with a Buy, as it believes consolidated operations in Florida, increased waste internalization, and continued price increases, should lead to expanding EBIT margins.
  
• Oppenheimer initiated AirMedia Group (NASDAQ: AMCN) with an Outperform, as it believes that the Beijing Olympics will help the company acheive better than expected earnings.
  
• Deutsche Bank initiated PAETEC Holding (NASDAQ: PAET) with a Buy, as the firm believes PATEC is well-positioned to benefit from improving industry conditions.

OTHER INITIATIONS:

• Wachovia started Seaspan (NYSE: SSW) with a Market Perform.
• Needham initiated Memsic (NASDAQ: MEMS) with a Buy.
• Oppenheimer started Intellon (NASDAQ: ITLN) with an Outperform.
• Morgan Stanley initiated Dice Holdings (NYSE: DHX) with an Equal Weight.

MOST NOTEWORTHY: Intellon, Memsic and MGM Mirage were today's noteworthy initiations:

• Jefferies believes Intellon (NASDAQ: ITLN) is well-positioned to benefit from increasing IPTV rollouts in Europe and Asia, as well as from additional consumer applications in the digital home. The firm assumed shares with a Buy rating and $9 target.
  
• Jefferies also initiated coverage of Memsic (NASDAQ: MEMS) with a Buy rating and $10 target, as they view the company as a compelling investment for investors seeking exposure to high-quality semiconductor companies benefiting from lower-cost China manufacturing.
  
• Banc of America initiated MGM Mirage (NYSE: MGM) with a Neutral rating and $76 target, as they are cautious on Las Vegas in 2008 due to decelerating U.S. gaming revenue growth and increasing Strip room supply growth between 2008-2010.

OTHER INITIATIONS:

• Thomas Weisel initiated Bed Bath & Beyond (NASDAQ: BBBY) with a Market Weight rating.
  
• Walt Disney (NYSE: DIS) and News Corp (NYSE: NWS) were started with Equal Weight ratings at Morgan Stanley.
  
• Merrill initiated Baidu.com (NASDAQ: BIDU) with a Buy rating and $430 target.