LDK Solar (NYSE: LDK) was trading at $72.80 in early trading, above its close of $56.84 Friday.

LDK's audit found no material errors in its silicon inventory. LDK said the company has correctly reported its inventories. LDK will report Q3 EPS on December 19th. LDK January option implied volatility of 144 and March of 123 is above its 22-week average of 101 according to Track Data, suggesting larger risk.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

LDK Solar (NYSE: LDK) is up 16% on news of a new contract with Q-Cells.

Novavax (NASDAQ: NVAX) is trading up 12% on a partnership with GE (NYSE: GE)'s healthcare group.

Hemispherx Biopharma (AMEX: HEB) is off 20% on a terminated license agreement with Esteve.

Red Hat (NYSE: RHT) is moving down almost 4% on a downgrade from Jefferies & Co.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

LDK Solar (NYSE: LDK) is a manufacturer of multicrystalline solar wafers. LDK auditing report on the investigation of allegations of inaccurate inventory is expected in early December. LDK has said the company has correctly reported its inventories. LDK is expected to report Q3 EPS in mid-December. LDK December option implied volatility of 137 is above its 20-week average of 97 according to Track Data, suggesting larger risk.

Volatility Index S&P 500 Options-VIX is recently down 1.51 to 22.46; 10-day moving average is 25.46 according to Track Data.

Daily Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Adobe (NYSE: ADBE) announced on November 12 it is targeting annual revenue growth of approximately 13%. ADBE is scheduled to report on EPS on December 17. ADBE December option implied volatility of 40 is 32 according to Track Data, suggesting larger price fluctuations.

LDK Solar (NYSE: LDK) is a manufacturer of multicrystalline solar wafers. LDK has been investigating inventory allegations made by a former LDK employee, and the company is also subject to a SEC inquiry. LDK has said the company has correctly reported its inventories. LDK December option implied volatility of 123 is above its 18-week average of 92 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

MOST NOTEWORTHY: GPC Biotech, Akamai, Qwest, Shutterfly and LDK Solar were today's noteworthy downgrades:

• GPC Biotech (NASDAQ: GPCB) was downgraded to Sell from Neutral at Goldman, to Sell from Hold at Deutsche Bank and to Underweight from Overweight at Lehman after the company's phase III trial of satraplatin to treat prostate cancer did not meet its primary endpoint.
  
• Deutsche Bank downgraded shares of Akamai Technologies (NASDAQ: AKAM) to Hold from Buy on valuation following the recent rally as they believe concerns around slowing growth, margins and capital efficiency will limit upside.
  
• Qwest Communications (NYSE: Q) was downgraded to Sector Performer from Outperformer at CIBC and to Neutral from Overweight at JP Morgan following the company's disappointing Q3 results.
  
• Jefferies downgraded shares of Shutterfly (NASDAQ: SFLY) following the better-than-expected Q3 results due to valuation.
  
• Piper downgraded shares of LDK Solar (NYSE: LDK) to Market Perform from Outperform, as they expect higher blended poly cost for the company due to tightening scrap poly supply and increased competition.

OTHER DOWNGRADES:

• Maxwell Technologies (NASDAQ: MXWL) was downgraded to Underperform from Market Perform at JMP Securities.
  
• UBS downgraded Estee Lauder (NYSE: EL) to Sell from Neutral.
  
• Merrill downgraded CommScope (NYSE: CTV) to Neutral from Buy.
  
• Under Armour (NYSE: UA) was downgraded to Underperform from Market Perform at Raymond James.
  
• RBC Capital downgraded Beckman Coulter (NYSE: BEC) to Sector Perform from Outperform.

Procter & Gamble (NYSE: PG) traded at $69.20 in pre-open trading, below its close of $71.83.

• PG reported first quarter EPS of 92 cents, up 16% on 8% sales growth.
  
• Smith Barney says: "A lackluster start to the fiscal year, 1Q08 helped by tax benefit."
  
• PG November option implied volatility of 26 is above its 26-week average of 19 according to Track Data, suggesting larger risk.

LDK Solar (NYSE: LDK) is a manufacturer of multicrystalline solar wafers.

• LDK traded at $38.50 in pre-open trading, below its close of $41.15.
  
• LDK announced an independent investigation into recent allegations made by LDK's former employee. LDK has said the company has correctly reported its inventories. LDK also announced the company would fully cooperate fully with an SEC inquiry.
  
• LDK November option implied volatility of 105 is above its 16-week average of 89 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

NutriSystem (NASDAQ: NTRI), a weight management and fitness products and services company, is recently down $10.57 to $37 in pre-open trading, some 22%.

• NTRI announced disappointing third quarter results.
  
• Thomas Weisel says: "3Q fundamentals crumble; we expect challenges into FY08."
  
• NTRI overall option implied volatility of 59 is above its 26-week average of 47 according to Track Data, suggesting larger price risk.

LDK Solar (NYSE: LDK) is a manufacturer of multicrystalline solar wafers.

• LDK shares were weak on 10/3 on allegations of inconsistency in inventory reporting.
  
• LDK says: "LDK's management team and board of directors formed an internal committee to investigate the allegations and conduct an immediate physical inventory of LDK's polysilicon materials. The management team found no material discrepancies."
  
• LDK October option implied volatility of 131 is above its 12-week average of 69 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

MOST NOTEWORTHY: Rockwell Automation, Barclays, F5 Networks, Foundry Networks, AMR Corp., and Red Hat were today's noteworthy downgrades:

• JP Morgan downgraded Rockwell Automation Inc (NYSE: ROK) to Neutral from Overweight based on valuation, as the firm believes the recent credit market turbulence could make a material recapitalization less likely.
  
• Bear Stearns downgraded shares of Barclays (NYSE: BCS) to Underperform from Peer Perform on valuation and expectations for losses in the company's Capital division.
  
• Nollenberger downgraded shares of F5 Networks Inc (NASDAQ: FFIV) to Neutral from Buy, as they believe the company is transitioning from a "beat and raise" story to a "meet and maintain" story given the recent disruptions in the financial services sector and slowing growth in active web hosts on the net. The firm also downgraded shares of Foundry Networks Inc (NASDAQ: FDRY) to Neutral from Buy on valuation, seeing a well balanced risk/reward profile at current levels.
  
• Soleil downgraded shares of AMR Corporation (NYSE: AMR) to Hold from Buy to reflect the company's deteriorating revenue and non-fuel cost outlook.
  
• Red Hat Inc (NYSE: RHT) was downgraded to Neutral from Outperform at Credit Suisse, citing lack of progress in execution.

OTHER DOWNGRADES:

• LDK Solar (NYSE: LDK) was downgraded at CIBC to Sector Performer from Outperformer.
  
• Friedman Billings downgraded Parker Hannifin Corporation (NYSE: PH) to Market Perform from Outperform.
  
• Morgan Keegan downgraded Cree Inc (NASDAQ: CREE) to Market Perform from Outperform.

MOST NOTEWORTHY: STMicroelectronics, Biogen Idec, American Community Bank and Crosstex Energy were today's notable downgrades:

• Lehman downgraded STMicroelectronics (NYSE: STM) to Underweight from Overweight, as they expect the company to underperform its peers.
• UBS downgraded Biogen Idec Inc (NASDAQ: BIIB) to Sell from Neutral, citing valuation and their belief that there would be no significant premium if the company was bought.
• American Community Bancshares (NASDAQ: ACBA) was downgraded to Hold from Buy at Stifel, based on valuation.
• Goldman Sachs downgraded Crosstex Energy Inc (NASDAQ: XTXI) to Neutral from Buy, citing valuation.

OTHER DOWNGRADES:

• PepsiAmericas Inc (NYSE: PAS) was downgraded to Underweight from Neutral by HSBC.
  
• Amodcs Ltd (NYSE: DOX) was removed from the Conviction Buy List by Goldman Sachs.
  
• Citigroup assumed coverage of Tenneco Inc (NYSE: TEN) with a Sell from a Hold.
  
• Morgan Stanley downgraded LDK Solar (NYSE: LDK) to Equal Weight from Overweight.