US HOT STOCKS: PolyOne, Sirius, VeriSign, XenoPort -3-

7th Jul 2010 22:08

Sidoti & Co. raised its stock-investment rating on PolyOne Corp. (POL, $8.41, +$0.97, +13.04%), a producer and distributor of resin and other plastic additives, to buy from neutral, saying investors are ignoring the earnings recovery the firm contends is underway. Sirius XM Radio Inc. (SIRI, $1.00, +$0.06, +6.37%) expanded its subscriber base by 6% from a year ago to a record 19.5 million at the end of the second quarter, leading the company to raise its 2010 forecast for subscriber growth by nearly 50%. Synchronoss Technologies Inc. (SNCR, $19.10, +$0.89, +4.89%) has agreed to acquire privately held FusionOne Inc. for as much as $75 million in cash and stock. The deal will expand Synchronoss' presence in the field of content-sharing software for cellphones. Oppenheimer raised its stock-investment rating on VeriSign Inc. (VRSN, $27.36, +$1.42, +5.47%), a provider of Internet infrastructure services, to outperform from perform, citing solid trends, margin expansion and the potential large share buyback. Biopharmaceutical company XenoPort Inc. (XNPT, $6.51, -$2.36, -26.61%) and GlaxoSmithKline PLC (GSK, $34.44, +$0.31, +0.91%) said their drug GSK1838262/XP13512 didn't produce statistically significant improvement in treating migraine headaches than a placebo in a midstage trial did. The 30-week study included 526 patients at four dosing levels twice a day, and the study's failure could be due to an unexpectedly high placebo response, the companies said. -By Dow Jones Newswires; write to [email protected] (END) Dow Jones Newswires July 07, 2010 17:08 ET (21:08 GMT)