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Company News for July 7, 2011

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•    Share prices of disk-drive components suppliers Hutchinson Technology Inc. (NASDAQ:HTCH) shot up by 21.15% after the company said it is optimistic about posting  higher-than-expected third quarter earnings results

•    Shares of drug developer ImmunoGen, Inc. (NASDAQ:IMGN)  gained 9.50%  after analysts at  Jefferies initiated coverage on the company with a "Buy" rating

•    According to reports from Bloomberg and New York Times, Kinetic Concepts (NYSE:KCI)  which provides wound healing technology is planning to go private in a leveraged buyout

•    Skin-care products manufacturer PhotoMedex Inc. (NASDAQ:PHMD) announced plans to buy rival Radiancy Inc. for $174 million in stock in a reverse merger. The deal will help PhotoMedex to grow and expand Radiancy's hair removal kit market

•    U.S. listed share prices of Canadian telecom-equipment maker DragonWave, Inc. (NASDAQ:DRWI)  declined by 13.45% on news that the telecom company's chief of sales has left the company

•    U.S. trucking and logistics company Con-Way Inc (NYSE:CNW) announced it was restoring certain employee benefits because of a much improved economy. Shares of Con-Way increased 5.65% to close at $41.87

•    Shares of electric-car battery maker Ener1, Inc. (NASDAQ:HEV) were upgraded by Wunderlich Securities Inc. from "Sell" rating to "Hold" rating

•    Analysts at Janney Capital Markets raised their rating on the shares of prepaid card company Green Dot Corp. (NYSE:GDOT) from "Sell" rating to "Neutral" rating

•    Goldman Sachs (NYSE:GS) downgraded Cepheid (NASDAQ:CPHD) to "Neutral" rating from "Buy" rating with a target price of $35.00 citing the move as a valuation call

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