Thursday, March 17, 2011

Hot Stocks Of The Day: AKAM, SANM, GMR,SPWRA

. Thursday, March 17, 2011

By stockOzone team

Shares of Akamai Technologies Inc.(NASDAQ: AKAM) rallied as much as 5% on Thursday after Stifel Nicolaus upgraded its rating on the company to Buy from Hold.

Shares of Sanmina-SCI Corporation (NASDAQ: SANM) sank more than 18% after the company announced that Hari Pillai, President and Chief Operating Officer will resign from the company and continue in a consulting capacity on terms to be determined. Separately, the company said that its outlook for the second quarter, ending April 2, 2011 may be impacted by, amongst other things, a delay in defense market projects and shipments due to Federal budget uncertainty, recently resolved labor strike in India delaying certain product shipments, and short-term softness in the optical market near the end of the quarter. The company expects revenue for the second quarter to be in the range of $1.56 to $1.60 billion and non-GAAP earnings per share to be in the range of $0.28 to $0.32, depending on performance in the last two weeks of the quarter.

General Maritime Corporation (NYSE: GMR) plunged more than 26% after the company announced that it is engaged in ongoing discussions with prospective lenders and investors to seek additional liquidity through potential restructuring or refinancing of its existing credit facilities and/or issuance of debt or equity which have not yet concluded. As a result of the Company's pursuit of these initiatives, General Maritime said that it is not able to complete the preparation, review and filing of its Annual Report on Form 10--K for the fiscal year ended December 31, 2010 within the prescribed time period without unreasonable effort and expense. General Maritime is filing a Form 12b-25 with the Securities and Exchange Commission for an extension of time to file its 2010 Annual Report on Form 10-K. The Company now expects to file its Form 10--K on or before March 31, 2011. Excluding the non-cash impairment charges, the Company expects to record a net loss of approximately $39 million for the three months ended December 31, 2010, compared to a net loss of $12.0 million from the prior year period.

SunPower Corporation (NASDAQ: SPWRA) rallied as much as 2% after the company announced the completion and commissioning of a 19-megawatt photovoltaic solar power plant in Colorado's Alamosa County. The Greater Sandhill solar power plant began generating power on December 22, 2010 and is currently the largest operating PV solar power plant in Colorado.

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