Hot Trend: Bazaarvoice Inc (NASDAQ:BV), NRG Energy Inc (NYSE:NRG)

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The U.S. Justice Department filed a lawsuit on Thursday against Bazaarvoice Inc(NASDAQ:BV) acquisition of PowerReviews Inc last June saying that the required antitrust clearance was never sought and that the deal reduced competition for product ratings platforms.

How Should Investors Trade BV After The Recent Volatile Moves? Find Out Here

The department has asked the court to require Bazaarvoice to divest certain assets, and by doing so create a new company to replace PowerReviews. The department said that the companies did not report the transaction to antitrust authorities for approval, as required by law for a transaction of that size.

Bill Baer, who was sworn in last week as head of the Justice Department's Antitrust Division, said in a statement "This lawsuit seeks to prevent one firm from dominating the product rating and review platforms market, and demonstrates that transactions that are not reported to us are not immune from scrutiny."

The case was filed in the U.S. District Court for the Northern District of California. It is No. 13-0133.

Shares of Bazaarvoice Inc was down by 85 cents or 11.30% to $6.64 in the afternoon session.

Shares of NRG Energy Inc(NYSE:NRG) rose by 31 cents or 1.32% to $23.44 in the morning session following the news of Goldman Sachs adding the company to its Conviction buy list.

Is NRG Showing Any Sign of Buy At The Current Market Price? Get Our Free Trend Analysis Here

Goldman Sachs increased its price target by 75 to $30 per share.

Citing the firm to be best in class free cash flow, enabling share buybacks and debt reduction, having exposure to the favorable Texas power market with attractive risk/reward and a total return of 33% the analyst said "We expect a positive capital allocation announcement either at or by NRG's 4Q2012 earnings release to drive shares higher in the near term."

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