Strong Buy -- Price 6.52 on April 14 by JMP Securities Anworth will pay a 20-cents dividend ... for 1Q08 ... 66.7% over the 12 cents a share paid for 4Q07, ranking ANH's sequential dividend growth second only to Capstead Mortgage among the four large, public-agency [real-estate investment trusts]. [The] growth was fueled by a sharp increase in net-interest spread, which we estimate was 108 basis points [hundredths of a percentage point] in 1Q08... . ANH is now offering current yield of 12.3%... . With ANH shares trading a fraction above our current mark-to-market tangible book value estimate of roughly $6.40 ... our target is 9.50. Market cap: $500 million.

Buy -- Price 7.19 on April 14 by Needham & Co. Emcore [is to] acquire Intel's datacom-optics group for $3.7 million in stock ... a leading supplier to Cisco Systems ... Emcore [manufactures] triple-junction solar cells for use in satellites, and has received a subsequent $5 million in orders in addition to its $89 million backlog [as of] Dec. 31. Target: 10. Market cap: $401 million.

Buy -- Price 32.05 on April 14 by Hilliard Lyons GE reported lower-than-expected 1Q earnings per share, an indication of the extraordinary difficulties in the financial sector. With strong global growth, total GE revenue for the quarter rose 8%; "08 earnings could be flat to slightly up. We view the stock-price decline as a buying opportunity. Momentum in the infrastructure segment appears sustainable. Global revenue continues to grow. GE has the financial strength to invest in depressed areas for higher potential returns. We have lowered our target to 39. Market cap: $312 billion.

Speculative Buy -- Price 12.32 on April 15 by Taglich Brothers Based on management guidance for 1Q08, a sales run rate approaching $1 million a week, moderation of milk prices, and increased consumer awareness of LWAY offerings, we're [increasing forecasts for] revenue of $49.935 million (formerly $48.5 million); and net income of $4.1 million or 24 cents a share (versus $3.8 million/23 cents). We expect 2H results to improve over 1H. Target: 13.65. Market cap: $203 million.

Focus List -- Price 85.86 on April 16 by McAdams Wright Ragen 1Q08 EPS was $1.82, with a 26-cent benefit from Visa IPO. Excluding it, results [matched] consensus $1.56... . Fundamentals for the quarter were ... quite solid, all things considered; we expect MTB to continue performing strongly by sticking to its knitting... . Our two-year target is 129, based on 16.6 times our FY09 EPS estimate and 2 times our FY09 projected book value of about 66. Market cap: $9.5 billion.

Buy -- Price 62.53 on April 14 by Coker & Palmer California environmental groups ... signed an agreement with PXP allowing for development of offshore Tranquillon Ridge... . While other approvals remain, [this] is significant ... by 2022, PXP could produce 119 [million barrels of fuel-oil equivalent], about $20 a share... . We're increasing "08 target to 80 from 70, based on "08 enterprise value[earnings before interest, taxes, depreciation, amortization] of 8.2 times. Market cap: $7 billion.

Outperform -- Price 61.86 on April 15 by Baird Securities R [is to] acquire substantially all assets of Gator Leasing, a full-service leasing, commercial-truck-rental and fleet-services company... . The acquisition's likely [to be] modestly accretive. Our 68 target reflects 13 times "09 estimates... . R's ability to grow earnings through this downturn bolsters case for higher full-cycle valuation ... when the environment improves ... long-term P/E 16 times; LT Ebitda: 4.1 times. Market cap: $3.6 billion.

In-Line -- Price 54.68 on April 15 by Fox-Pitt Kelton Cochran Caronia Waller WABC's net interest margin posted healthy expansion for the second quarter in a row, up 26 bps... . Reported EPS was 92 cents... . We view the quarter favorably, as WABC's NIM expanded more than expected. Market cap: $1.6 billion.