OmniVision (OVTI - option chain) stock is trading sharply lower today after Sony (SNE) CEO Howard Stringer said late Friday that his company is supplying camera components to Apple (AAPL). This could pose a threat to OVTI's AAPL business, as OVTI had been the main supplier of image sensors for the iPhone. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on OVTI.

This morning, OVTI opened at $34.06. So far today the stock has hit a high of $34.10 and a low of $32.20. As of 12:15, OVTI is trading at $33.15, down $3.04 (-8.4%). The chart for OVTI looks neutral and S&P gives OVTI a neutral 3 STARS (out of 5) hold ranking.

This post is part of Japan: A Special Report for Investors.

"The list of those hurt financially by the earthquake include the Japanese government (so don't buy Japan's government bonds), insurance companies (who will make up their losses through higher future premiums) and the unfortunate Japanese people themselves," says Martin Hutchinson.

The contributing editor to Money Morning explains, "Of course, even among listed companies, there will be some losers. Tokyo Electric Power Co. (TKECY), or TEPCO, is the unfortunate owner of the damaged Fukushima Daiichi nuclear power station.

Analyst Upgrades

• Red Hat (RHT) to outperform from neutral at RW Baird.
• Cogdell Spencer (CSA) to buy from hold at Citigroup.
• Micron (MU) to neutral from reduce at Nomura.
• El Paso Electric (EE) to buy from hold at Jefferies.
• MICROS Systems (MCRS) and Harmony Gold (HMY) to outperform from sector perform at RBC Capital.
• Meridian Bioscience (VIVO) to buy from hold at Canaccord.
• Verso Paper (VRS) to outperform from neutral at Credit Suisse.
• Sony (SNE) to buy from hold at Deutsche Bank.
• Noble Corp. (NE) and Baker Hughes (BHI) to buy from neutral at UBS.
• Tyson Foods (TSN) and Smithfield Foods (SFD) to buy from hold at BB&T.

"Few people know exactly how long it will take Japan to recover and rebuild, nor the full impact of the destruction in the world's third-largest economy," says Louis Basenese.

The contributing editor to Investment U advises, "In the short term, expect volatility to be the norm; but if you're a long-term investor there are reasons for bullishness:

"First, Japan is cheap. Even before the earthquake hit, Japan was one of the world's cheapest markets with the average stock on the TOPIX trading at a price-to-book ratio of 1.0 -- a 56% discount to the average U.S. stock.

Best Buy (BBY) captures one third of U.S. consumer electronics sales, according to the Wall Street Journal (subscription required). That's the good news.

But now Best Buy is losing market share. You are probably wondering why this has happened. After all since Circuit City evaporated into bankruptcy, you would think that Best Buy would be king of the hill. Not so. Other trends are developing that are eroding Best Buy's territory. Here are a few them:

iShares MSCI Japan Index Fund (EWJ) closed lower on the affects of the Northern Japan earthquake. Overall option implied volatility of 25 is above its 26-week average of 21, according to Track Data, suggesting larger price movement.

Sony (SNE) also closed lower on the affects of the Northern Japan earthquake. Overall option implied volatility of 28 is below its 26-week average of 31, according to Track Data, suggesting decreasing price movement

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

Based on what I was reading going into the weekend, I thought the multiplex was going to be an unexciting place. I was therefore rather surprised to see what I thought were relatively impressive numbers attached to the top films.

According to early estimates for domestic grosses at Box Office Mojo, Sony's (SNE) Just Go With It, starring Adam Sandler, is so far credited with a first-place showing; the movie is believed to have made about $31 million for the Friday-through-Sunday period. But Viacom's (VIA.B) Justin Bieber: Never Say Never product isn't giving up without a fight. At the time of writing, it was in second place with $30.3 million. Essentially, it's a tie.

Friday's fourth-quarter GDP numbers offered more evidence that the economy is picking up steam, but one of the biggest obstacles to the recovery remains the stubbornly high unemployment rate. We'll find out whether there's been any movement on that front when employment data for January comes out this week. The Challenger Job-Cut report and ADP employment data are due Wednesday, and the government's unemployment rate on Friday. Another mild increase in jobs is expected, in line with the three-month average, but not enough to significantly reduce the unemployment rate.

Also look for the ISM manufacturing and nonmanufacturing indexes this week, as well as the Chicago PMI and the New York NAPM index. And Fed Chairman Ben Bernanke will speak to the National Press Club on Thursday.

The market for streaming video calling is exploding. An estimated 13.2 million people worldwide will make video calls this year, up 400% from last year. By 2015, it is estimated that 155.1 million calls will use streaming videos.

Skype is a leader in low-cost phone calls. Calls to other people who have Skype are usually free. Now Skype is offering video calling for as low as $8.99 per month, with up to 10 people on the same call. Skype accounts for 25% of international calling traffic, up from 13% in 2009.

IMAX (IMAX) finished 2010 with a wild trading day. With a little over two-and-a-half hours to go before the market bell, I had noticed that the stock was up an incredible 15.6% to $31.05. On heavy volume. Yes, heavy volume, on the last day of the year.

What was the reason? There was some speculation about a buyout. StreetInisder.com had reported that Sony (SNE) was possibly interested in buying the business. Disney (DIS) was also mentioned as a potential acquirer.

This is my 1200th post. If someone would have told me I could write that much in my "spare time" I probably would not have stopped laughing until I collapsed. I marvel at all that has happened in the marketplace over this time: the ups and downs, good calls and bad; and being called everything under the sun, and then some, by our more 'enthusiastic' readers.

I must thank Amey Stone who I have been corresponding with for over a decade and was the one that first asked this architect and investor to be one of the initial group of bloggers. Now there is an army of writers and a lot has changed. For me this week marks a big change because Amey accepted a new position at another company and last Friday was her last day. Best of luck Amey!