• MetLife (NYSE:MET) shares fell 7.4% after the shares were downgraded by Raymond James Financial on valuation concerns

• Sepracor (NASDAQ:SEPR) shares jumped 26.5% on reports that Japanese firm Dainippon has agreed to acquire the company in a $2.7 billion deal

• Credit Suisse raised its ratings on Research in Motion (NASDAQ:RIMM) and Motorola (NYSE:MOT), expecting benefits from the under-served corporate market, with both likely to benefit from cost cutting measures

• Some reports say AT&T (NYSE:T) is planning an offer to acquire Leap Wireless (NASDAQ:LEAP)

• Pfizer (NYSE:PFE) was ordered to pay a $2.3 billion civil settlement regarding its withdrawn pain medication Bextra and other drugs

• Hovnanian (NYSE:HOV) reported a wider-than-expected fiscal third quarter loss of $2.16 a share, versus Zacks estimates of a $1.60 per share loss as revenues of $387.1 million, were slightly above Zacks estimates of $385 million

• Ciena (NASDAQ:CIEN) reported a narrower than expected fiscal third quarter loss of five cents a share, versus Zacks estimates for a loss of 21 cents a share, on revenues of $164.8 million, compared with estimates of $152 million

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