Stocks in Focus: Cadence Design Systems, ING Groep N.V. , New York Mortgage Trust, PositiveID Corporation

Lakeway, TX -- (SBWIRE) -- 03/18/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Cadence Design Systems Inc (NASDAQ:CDNS) stock dropped 1.33% to $13.73. CDNS’s stock was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors last week.

Additionally, the company, on Mar. 11, announced that it has entered into a definitive agreement to acquire Tensilica, Inc., a leader in dataplane processing IP, for approximately $380 million in cash. Tensilica had approximately $30 million of cash as of December 31, 2012.

How Should Investors Trade CDNS After The Recent Movement? Find Out Here

ING Groep N.V. (ADR)(NYSE:ING) shares fell 3.83% to $8.04. Reuters on Mar. 5 reported that the sale of ING Groep NV's South Korean unit is set to be revived after private equity-backed Tong Yang Life Insurance Co Ltd said it was considering whether to buy the business, which is valued at about $2.1 billion. In a regulatory filing on Wednesday, Vogo Capital-owned Tong Yang said it was reviewing whether to buy ING's South Korean insurance unit. Tong Yang did not say how it plans to fund the acquisition if it decides to proceed with a bid, which would be almost double the size of Tong Yang's market value of $1.1 billion.

Is ING Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here

New York Mortgage Trust, Inc. (NASDAQ:NYMT) shares dropped 3.90% to $7.26. Zacks cut shares of NYMT from a neutral rating to an underperform rating in a research note issued to investors on Mar. 13. The firm currently has $6.80 target price on the stock.

Additionally, the company last month announced different tax treatment for dividends declared in 2012 on the Company's common stock. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of dividends on the Company's common stock.

Is NYMT a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

PositiveID Corporation (OTC:PSID) shares decreased 7.43% to $0.0162. The company, on Mar. 12, issued an update on the progress of its strategic plan to refocus the Company on its patented and patent pending technologies to serve the estimated $3.1 Billion BioWatch Generation 3 program, which is designed to protect the American public from a biological attack. This update is intended to present stockholders with a review of major accomplishments for 2012 and an outlook for 2013.

How Should Investors Trade PSID After The Latest Earnings Report? Find Out Here

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