Mario Gabelli's Gamco Investors boosted its holdings to about 3.97 million shares (9.5%) from the 3.53 million (8.47%) it had reported owning on Sept. 24.

Mario Gabelli's Gamco Investors (GBL) has boosted its stake to 7.38% (3.08 million shares) from 5.54% (2.31 million shares).

Mario Gabelli's Gamco Investors (GBL) owns 2,109,740 shares (5.05%), after buying 291,400 from June 30 to Aug. 25 at $21.60 to $35.07 a share.

Drug maker Alpharma Inc. said recently that its board authorized a $150 million share repurchase program.

The company also said that, because of the sale of its Active Pharmaceutical Ingredients unit on April 1, it now projects 2008 earnings per share from continuing operations between 15 cents and 35 cents, excluding the effect of any milestone payments from 2007 licensing agreements.

That's down from the earnings of 30 cents per share to 50 cents per share projected in December 2007, and less than the 23 cents per share currently expected by analysts surveyed by Thomson Financial.

Alpharma (ALO) was upgraded to Neutral, Goldman Sachs said. Valuation call, based on a $28 price target.

11.4

Downgraded by Goldman Sachs from Neutral to Sell

Upgraded by Cowen & Co from Underperform to Neutral