J.P. Morgan's upgrade sent RSYS up to 47 3/4 this morning.
Interpretation of the news like found below on briefing.com around 1:00 pm have caused it to test support at the 45 level:
"12:50 ET ******
RADISYS CORP (RSYS) 46 +2 7/8. J.P. Morgan upgrades shares of computer components maker to "buy" from "market performer", helping issue recover some of yesterday's $7.875 a share loss. In a research report, firm noted that stock has lost over 40% of its value since reaching a 52-week high of $74.50 on Oct 28. Stock depreciation was accelerated yesterday after Barron's article discussed lawsuit filed by company's former VP of operations, alleging company mis-reported inventory and earnings prior to, and after, its initial public offering. Though company denied allegations, stock, nonetheless, tumbled in active trading yesterday. J.P. Morgan comments, however, helping issue recover ground today as stock sets its sight on Morgan's $52 price target. Issue will continue to be less than a favorite to market, and with cloud of improprieties lingering over it, shares of embedded computer solutions maker will continuingly become more speculative and volatile."
If we could get a close above 46 today, it'll be a strong buy signal for Wednesday trading...
Alex |
