cadence design systems inc

StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Goldman Sachs upgrades Air Products & Chemicals Inc.

(NYSE: APD) from Neutral to Buy with a $116 price target and adds the stock to their Conviction Buy List. Citi upgrades Cadence Design Systems Inc (Nasdaq: CDNS) from Neutral to Buy and adds to Top Picks list.

Price target increased from $9 to $11.50. Piper Jaffray upgrades NCI Building Systems (NYSE: NCS) from Neutral to Buy and increases their price target from $36 to $47.

Electronic design software maker Cadence Design Systems Inc. on Friday withdrew its offer to buy smaller rival Mentor Graphics Corp.

StreetInsider.com Unusual 11 Mid-Day Movers: Mentor Graphics Corporation (NASDAQ: MENT) 19.3% LOWER; Cadence Design Systems, Inc.

(NASDAQ: CDNS) this morning announced that it has withdrawn its proposal to acquire all of the outstanding shares of Mentor Graphics common stock.

SunPower (Nasdaq: SPWR) 18.2% HIGHER; PG&E (NYSE: PCG) today announced that it has entered into several agreements to bring 800 MW of renewable energy to California.

Infinera (Nasdaq: INFN) 28.7% LOWER; today reaffirmed its Q2 outlook of $88-$90 million for revs, versus the consensus of $89.69 million.

Q3 sales are expected to be in the range of $75-$80 million, versus the consensus of $97.74 million. FY08 sales are expected to grow at 10%, down from a previously forecast 25% growth rate.

Mentor Graphics (Nasdaq: MENT) 25% HIGHER; Cadence Design Systems, Inc. (Nasdaq: CDNS) submitted a proposal to the Board of Directors of Mentor Graphics to acquire Mentor Graphics for $16.00 per share in cash.

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• Cadence Design Systems, Inc. (Nasdaq: CDNS) submitted a proposal to the Board of Directors of Mentor Graphics Corporation (Nasdaq: MENT) to acquire Mentor Graphics for $16.00 per share in cash.
  
  Cadence's all-cash proposal represents a 30% premium over the closing price of Mentor Graphics common stock on June 16, 2008, the last trading day prior to public disclosure of Cadence's proposal.
• Jones Lang LaSalle Incorporated (NYSE: JLL) and The Staubach Company have reached a definitive agreement to combine operations.

StreetInsider.com Pre-Open Movers: Mentor Graphics (Nasdaq: MENT) 25% HIGHER; Cadence Design Systems, Inc. (Nasdaq: CDNS) submitted a proposal to the Board of Directors of Mentor Graphics to acquire Mentor Graphics for $16.00 per share in cash.

Infinera (Nasdaq: INFN) 25% LOWER; today reaffirmed its Q2 outlook of $88-$90 million for revs, versus the consensus of $89.69 million.

Q3 sales are expected to be in the range of $75-$80 million, versus the consensus of $97.74 million. FY08 sales are expected to grow at 10%, down from a previously forecast 25% growth rate.

Canadian Solar Inc.