Rising Company

Elliott Associates said that it is prepared to acquire Packeteer for $5.50 a share in cash -- more than 40% above the company's recent share price. Elliott said that its offer is "compelling" and provides shareholders "immediate, quantifiable value," which it doesn't believe Packeteer could achieve in today's challenging economic environment. Packeteer makes wide-area application delivery systems for wireless-computer networks. Elliott holds 3,559,117 shares (9.8% of the total outstanding).

Downgraded by Piper Jaffray from Outperform to Mkt Perform

A group including Elliott Associates asserts that Packeteer has "leading technology" in one of the networking market's fastest-growing segments, but has been unable to capitalize on it. Elliott says the business segment in which Packeteer operates is becoming "increasingly competitive" and that the technology might prove "extremely valuable to a larger acquirer looking to enter the wide-area network optimization market," or to supplement its product lines. The Elliott group beneficially owns about 2.27 million shares (6.3%)

Upgraded by JMP Securities from Mkt Underperform to Mkt Perform

Upgraded by Matrix Research from Strong Sell to Sell

good stable growth within a year

Downgraded by JMP Securities from Mkt Perform to Mkt Underperform

tripleplay in wireless and cable

strong growth potential

Chapman Capital cut its stake to 1.75 million shares (4.9%) from the 2.59 million (7.2%) it reported owning on Oct. 3.