Elan Corp-ELN: Raising Tysabri outlook after solid Q2 results@COWN
Cowen raised their Tysabri penetration and sales targets by 9%-12% annually following better trends in the Q2 report. The firm remains Neutral rated as they see little upside in ELN shares given bapineuzumab Ph II data is 24 months away.

Potash-POT: Recommend buying on pullback, reiterate Outperform@FBCO
Credit Suisse recommends adding to POT positions on the pullback. The firm said upward pressure on fertilizer prices remains very strong. Target $280.

U.S. equity futures are now pointing to a higher open
U.S. stock futures made a fast run higher as new orders for manufactured durable-goods in June came in much higher than expectations, up 0.8% versus expectations for a decrease of -0.3%. This was the second consecutive monthly increase and followed a 0.1 percent May increase. The S&P 500 futures jumped 5.60 points to 1,259 and Nasdaq 100 futures added 12 points to 1,831, while the Dow industrials made a strong move higher to up 44 points to 11,385..

Range Resources-RRC upgraded to Outperform from Sector Perform@RBCM
RBC Capital upgraded RRC based on valuation and strong Marcellus drilling results. Target to $85 from $75

Arch Coal-ACI reports Q2 EPS 78c vs. consensus of 64c
Reports Q2 revenue $785.1M vs. consensus of $737.07M. Sees FY08 EPS $2.50-$2.85 vs. consensus of $2.67, sees FY08 sales volume 133M-$137M tons.

Legg Mason-LM reports Q2 EPS (22c) vs. consensus of 13c
Reports Q2 revenue $1.05B vs. consensus of $1.04B. Assets Under Management were $922.8 billion, down 3% from $950.1 billion at March 31, 2008, and down 7% from $992.4 billion at June 30, 2007. The first quarter net loss resulted from charges arising from previously announced support for money market funds, totaling $155.4 million after tax and operating expense adjustments, or $1.09 per diluted share.

Genentech-DNA target raised to $97 from $85@DBAB
Deutsche Bank believes the company’s negotiating leverage with Roche has increased substantially following last night’s press release. Shares remain Buy rated.

SunPower-SPWR acquires Solar Sales
SunPower Corporation announced that it has completed the acquisition of Australian integrator and distributor, Solar Sales Pty Ltd. With this acquisition, SunPower now extends its global presence into the emerging Australian solar market.

Celgene-CELG target raised to $86 from $79 after solid Q2 results@SBSH
Citigroup found Vidaza’s quarter over quarter growth impressive and maintains a Buy rating.

Black & Decker-BDK reports Q2 EPS $1.58 vs. consensus of $1.42
Reports Q2 revenue $1.6B vs. consensus of $1.6B. Sees FY08 EPS $5.25-$5.45 vs. consensus of $5.27. Sees Q3 EPS $1.30-$1.50 vs. consensus of $1.34.

Netflix-NFLX sees Q3 EPS 26c-35c vs. consensus of 31c
Sees Q3 revenue of $343M-$348M vs. consensus of $347.16M, sees Q3 ending subscribers of 8.675M-8.875M. Sees Q4 EPS 29c-37c, revenue $357M-$367M, ending subscribers of 9.1M to 9.7M. Sees FY08 EPS $1.19-$1.31 vs. consensus of $1.23, sees FY08 revenue $1.364B-$1.379B vs. cosnensus of $1.37B, sees ending subscribers of 9.1M to 9.7M.

Netflix-NFLX reports Q2 EPS 42c vs. consensus of 40c
Reports Q2 revenue $337.6M vs. consensus of $337.56M.

Crocs-CROX downgraded to Neutral from Outperform@BARD
Baird downgraded CROX following the company’s weak Q2 report and guidance. Target $5.

Wynn Resorts-WYNN target raised to $120 from $116 after strong quarter@JEFF
Jefferies raised their target WYNN’s “strong” quarter and believes current levels present a buying opportunity.

Jim Cramer’s “Mad Money”