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Company News for May 12, 2011

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•    Shares of Ener1, Inc. (NASDAQ:HEV) plunged by 27.35%, after the company reported a large first-quarter net loss this week. Ener1 Inc. was also downgraded by Wunderlich Securities from "Hold" to "Sell" and its price target was reduced from $3.50 to $1.00

•    Global and federal government insurer American International Group, Inc (NYSE:AIG) revealed in a regulatory filing that they would sell 300 million shares to the public

•    Strong earnings results that grew more than three times in the first quarter helped share prices of the pipeline maker Northwest Pipe Co (NASDAQ:NWPX) surge 6.40% to close at $24.45

•    Internet portal Yahoo! Inc (NASDAQ:YHOO) reported that Alibaba Group has transferred ownership of its online payments business to an entity controlled by the CEO of Alibaba. Reacting to the news, shares of Yahoo fell 7.28% since the digital media company has a 43% stake in Alibaba

•    Conceptus, Inc.’s (NASDAQ:CPTS) share prices dropped 15.77% a day to close at $12.71 after the maker of a sterilization method reported a larger first-quarter loss beating the Street's projections

•    Oil and natural-gas company Harvest Natural Resources, Inc.’s (NYSE:HNR) share prices fell 6.99% after the company reported its first-quarter earnings results that fell short of expectations

•    Shares of Scientific Games Corp. (NASDAQ:SGMS) fell 2.56% after the maker of lottery tickets reported its first-quarter results that came in below consensus forecasts

•    Analysts at Goldman Sachs (NYSE:GS) initiated coverage on GNC Corp. with a “Neutral” rating and a target price of $22.00 citing the move as a valuation call

•    Johnson & Johnson (NYSE:JNJ) was upgraded by Goldman Sachs (NYSE:GS) to a "Buy" rating from "Neutral" rating. The brokerage firm also raised the target price of the company from $64 to $77

•    Bristol-Myers Squibb (NYSE:BMY) was downgraded by Goldman Sachs (NYSE:GS) from "Buy" to "Neutral" with a target price of $32 on the stock

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