Today's Top Upgrades and Downgrades Stocks ( BGFV, ICON, ACTV, AXTI )

Los Angelas, CA -- (SBWIRE) -- 11/05/2012 -- Sporting products retailer, Big 5 Sporting Goods Corp. ( NASDAQ:BGFV ) posted third-quarter 2012 earnings per share of 38 cents, surpassing the Zacks Consensus Estimate of 32 cents. Quarterly earnings also outnumbered the year-ago quarter earnings of 32 cents per share, augmenting 40.7% year over year.Net sales of $251.8 million rose 7.3% from the prior-year quarter sales of $234.7 million and surpassed the Zacks Consensus Estimate of $247 million. Sales in the quarter mainly benefited from the calendar shift of the 4th July holiday into the third quarter as well as the company’s ongoing merchandise and marketing initiatives.Third quarter same-store sales increased 5.0% over the prior-year quarter, driven by same-store sales improvement across all geographies as well as all major product categories of apparel, footwear and hard goods. Aditionally Big 5 Sporting Goods (NASDAQ: BGFV) was upgraded by analysts at Feltl & Co. from a hold rating to a buy rating. The firm currently has $11.00 price target on the stock, up from their previous price target of $9.00.

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Iconix Brand Grou (NasdaqNM:ICON) reported EPS of 1.509. For the Current Fiscal year, the company is expected to report EPS of 1.70. For the Next Quarter and Next Year, the company is expected to report EPS of 0.51 and 1.90 respectively. At Current Market Price, ICON is in distance of +6.52% from its 50-day Moving Average price of $18.5882 and +14.17% from its 200-day Moving Average price of $17.3419. Total revenue in the quarter declined 6.6% year-over-year to $86.6 million, due to year-over-year decline in Men's businesses and transition of Royal Velvet license. However, revenue surpassed the Zacks Consensus Estimate of $81 million. On a year-over-year basis, earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased 6.3% to $51.8 million in the third quarter. EBITDA margin was flat at 60%. Iconix exited the quarter with free cash flow of $43.2 million, compared with $51.9 million at the end of the second quarter of 2012. Under the $200 million share repurchase program, which was authorized in October 2011, Iconix has already repurchased shares worth $107 million till date. The company has approximately $93 million remaining under the share repurchase program.

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The Active Networ (NYSE:ACTV) is very active today and traded between $5.02 - 6.39 with total traded volume of 16220993 shares. At a current price of 5.42, ACTV is -3.87 - -41.66% from the previous close of $9.29. Moreover, At Current Market Price, ACTV is in distance of -51.06% from its 50-day Moving Average price of $11.0748 and -59.33% from its 200-day Moving Average price of $13.3258. Shares of Active Network ACTV -41.66% plunged 33% to $6.21 on Friday, a day after the company reported a wider loss and a disappointing outlook. Shares of Active Network, an online registration platform for sporting events, were downgraded by several brokers. Barrington Research analyst Jeff Houston cut his rating to market perform from outperform, saying in a note, "We think it could take a while for investors to regain confidence after Active reduced 2012 guidance for the second consecutive quarter and set 2013 guidance below Street consensus."

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AXT, Inc. (NASDAQ:AXTI), a leading manufacturer of compound semiconductor substrates reported financial results for the third quarter ended Sept. 30, 2012. Revenue for the third quarter of 2012 was $20.8 million, compared to $25.2 million in the second quarter of 2012. Total gallium arsenide (GaAs) substrate revenue was $12.9 million for the third quarter of 2012, compared with $14.9 million in the second quarter of 2012. Indium phosphide (InP) substrate revenue was $1.6 million for the third quarter of 2012, compared with $1.3 million in the second quarter of 2012. Germanium (Ge) substrate revenue was $2.0 million for the third quarter of 2012 compared with $2.4 million in the second quarter of 2012. Raw materials sales were $4.3 million for the third quarter of 2012, compared with $6.5 million in the second quarter of 2012. Gross margin was 26.3 percent of revenue for the third quarter of 2012. By comparison, gross margin in the second quarter of 2012 was 29.8 percent of revenue. The drop in gross margin in the third quarter of 2012 was largely the result of lower selling prices of raw gallium, as well as lower tonnage sold, and lower volumes of sales in gallium arsenide substrates in both the wireless market and the LED market.

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