NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

Philips to Acquire Genlyte in an All-Cash Transaction for USD 95.50 per share

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Acuity Brands Ord Shs (AYI) opened at $39.81. So far today the stock has hit a low of $39.2 and a high of $39.81. AYI is now trading at $39.70, up 1.99 (5.28%). After hitting a one-year high of $55.70 in August, the stock hit a one-year low of $33.87 in October. CNBC's Jim Cramer is monitoring Philips Electronics' (PHG) takeover activity, and in the wake of their bid to buyout Genlyte (GLYT), he thinks their next target will be AYI. Manufacturers of lighting fixtures like AYI will be attractive as companies attempt to retrofit commercial buildings with more efficient lighting. Even if PHG doesn't take over AYI, the future looks bright for AYI. Technical indicators for the stock are bearish but improving. If you’re looking for a hedged play on this stock, consider a December bull-put credit spread below the $35 range. AYI hasn't been below 35 since November 21. AYI could lose up to 11.8% and this trade would still be profitable. [LHF- Seven Summits Strategic Investments NewsBite]

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Electronics giant Philips offered $2.7 billion to buy The Genlyte Group Inc. ( Nasdaq: GLYT), a manufacturer of lighting fixtures.  The stock price leaped $31.70 to $94.37....

UPGRADES
Prospect Energy PSEC Ferris Baker Watts Sell » Neutral
Verigy VRGY Stifel Nicolaus Hold » Buy
Overstock.com OSTK Stifel Nicolaus Sell » Hold
Novellus NVLS Stifel Nicolaus Sell » Hold
DuPont DD Soleil Hold » Buy
Cepheid CPHD Piper Jaffray Neutral » Buy
Anheuser-Busch BUD UBS Neutral » Buy
Ceradyne CRDN Morgan Joseph Hold » Buy
Blue Coat BCSI Roth Capital Hold » Buy
Holly HOC Friedman Billings Mkt Perform » Outperform
ICT Group ICTG Friedman Billings Underperform » Mkt Perform
UBS AG UBS Credit Suisse Neutral » Outperform
AptarGroup ATR Lehman Brothers Underweight » Equal-weight
AGL Resources ATG UBS Neutral » Buy
Molson Coors Brewing TAP UBS Neutral » Buy
Alpha Natural Resources ANR UBS Neutral » Buy
Potash POT JP Morgan Neutral » Overweight
Banco Santander SAN Deutsche Securities Hold » Buy

DOWNGRADES
Finlay Enterprises FNLY B. Riley & Co Neutral » Sell
SourceForge LNUX Dougherty & Company Buy » Neutral
Sonic Solutions SNIC Kaufman Bros Buy » Hold
Casual Male CMRG Stifel Nicolaus Buy » Hold
Ariad Pharm ARIA JP Morgan Overweight » Neutral
Astronics Corporation ATRO Boenning & Scattergood Market Outperform » Market Perform
New York Times NYT Banc of America Sec Neutral » Sell
Advanta Corp ADVNB Friedman Billings Mkt Perform » Underperform
Ryanair Hldgs RYAAY Deutsche Securities Buy » Hold
Air France KLM AKH Deutsche Securities Buy » Hold
Genlyte GLYT Banc of America Sec Buy » Neutral

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UPGRADES
Citigroup C Punk, Ziegel & Co Mkt Perform » Buy
Semtech SMTC Caris & Company Below Average » Average
Affiliated Computer ACS Stifel Nicolaus Hold » Buy
American Science & Engineering ASEI Jefferies & Co Hold » Buy
Techtarget TTGT Oppenheimer Neutral » Buy
Cavium Networks CAVM Lehman Brothers Equal-weight » Overweight
BP BP Bear Stearns Peer Perform » Outperform
BB&T Corp BBT Punk, Ziegel & Co Mkt Perform » Buy
PNC Bank PNC Punk, Ziegel & Co Mkt Perform » Buy
Regions Fincl RF Punk, Ziegel & Co Mkt Perform » Buy
Washington Mutual WM Punk, Ziegel & Co Sell » Mkt Perform
KeyCorp KEY Punk, Ziegel & Co Sell » Mkt Perform
Marathon Oil MRO Bear Stearns Underperform » Peer Perform
Chevron CVX Bear Stearns Peer Perform » Outperform
AXA AXA Credit Suisse Neutral » Outperform
Emageon EMAG Friedman Billings Mkt Perform » Outperform

DOWNGRADES
Genlyte GLYT BB&T Capital Mkts Buy » Hold
Axcan Pharma AXCA BMO Capital Markets Market Perform » Underperform
Advanced Micro AMD AmTech Research Buy » Neutral
First American FAF Keefe Bruyette Outperform » Mkt Perform
Arbitron ARB Bear Stearns Outperform » Peer Perform
Equity Res EQR UBS Neutral » Sell
BRE Properties BRE UBS Neutral » Sell
AvalonBay AVB UBS Buy » Neutral
NovaGold Resources NG Bear Stearns Outperform » Peer Perform

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There are many international players leveraging the weak dollar. Yesterday Royal Phillips Electronics dropped $2.7 billion on The Genlyte Group Incorporated ( GLYT) a Louisville, Ky., firm that makes light fictures. The next bid in Cramer's view could be Acuity ( AYI). 40% of a buildings energy is lost to lighting and there is a need to retrofit and make fixtures more efficient. AYI has noted the potential for multimillion dollar lighting contracts and they are a $1.5 billion company. This is a play on nonresidential construction which is not going through the hardships that residential construction is going through. If Phillips makes a bid this stock could be worth $20 more. This should be the next on Phillips shopping list but even if it doesn't it is a great play on saving businesses money and the previous deal with GLYT shows how cheap the stock is.

UP
Staples, Inc. (SPLS)
Activision, Inc. (ATVI)
Express Scripts, Inc. (ESRX)
TiVo Inc. (TIVO)
American Science & Engineering, Inc. (ASEI)
DOWN
BIDZ.com, Inc. (BIDZ)
The Genlyte Group Incorporated (GLYT)
NovaGold Resources Inc. (USA) (NG)
Paragon Shipping Inc. (PRGN)
Millennium Pharmaceuticals, Inc. (MLNM)

UP
Staples, Inc. (SPLS)
Activision, Inc. (ATVI)
Express Scripts, Inc. (ESRX)
TiVo Inc. (TIVO)
American Science & Engineering, Inc. (ASEI)
DOWN
BIDZ.com, Inc. (BIDZ)
The Genlyte Group Incorporated (GLYT)
NovaGold Resources Inc. (USA) (NG)
Paragon Shipping Inc. (PRGN)
Millennium Pharmaceuticals, Inc. (MLNM)

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