ShoreTel (SHOR) (IIVI) (PCH) (WU) (IACI) Get Ratings Initiations

ShoreTel (NASDAQ:SHOR), II-VI Inc (NASDAQ:IIVI), Potlatch (NASDAQ:PCH), Western Union (NYSE:WU) and InterActive (NASDAQ:IACI) had analysts initiate coverage on them.

ShoreTel (SHOR) was started off with an "Equal Weight" rating by Barclays Capital, which has a price target of $11 on the company.

II-VI Inc (IIVI) was started off with an "Buy" rating by Longbow, with a price target of $68.

Potlatch (PCH) was initiated with a "Sell" rating by UBS (NYSE:UBS), with a price target of $30 on them.

Western Union (WU) was initiated at a "Buy" rating by RBC Capital, with a price target of $25.

InterActive (IACI) was started off with a "Buy" rating by Stifel Nicolaus, which placed a price target of $42 on the company.

Endocyte (ECYT) (UCTT) (WTI) (HSTM) (IIVI) (REDF) Make Big, Positive Moves

Endocyte, Inc., (NASDAQ: ECYT), Rediff.com India Limited (NASDAQ: REDF), Ultra Clean Holdings Inc. (NASDAQ: UCTT), W&T Offshore Inc. (NYSE: WTI), Healthstream Inc. (Nasdaq: HSTM) and II-VI Inc. (Nasdaq: IIVI) were trading up positive today, soaring in a range of 15 percent to over 30 percent in the case of Endocyte, Inc.

Endocyte, Inc. was up over 30 percent after announcing its plan to prepare two marketing authorization applications to the European Medicines Agency. These two marketing applications are for the company's lead drug candidate EC145 for the treatment of platinum-resistant ovarian cancer and its companion imaging diagnostic EC20 for patient selection. The filings will be based on the results of the randomized Phase 2 PRECEDENT trial and supported by a Phase 2 single agent EC145 clinical trial.

Rediff.com India Limited was up over 23.6 percent; it introduced Rediff Deal Ho Jaye!, a service targeting group deals. Rediff.com Deal Ho Jaye! offers will come from local merchants in each city. Consumers will be empowered to track upcoming promotions by subscribing to the Deal Ho Jaye! email newsletter or by SMS.

II-VI Inc. was trading up over 21 percent; it reported third-quarter EPS of $0.72, $0.19 above the analyst estimate of $0.53. Revenue for the quarter exceeded expectationg, reaching $130 million against the consensus estimate of $121.07 million. Guidance for EPS for the fourth quarter of 2011 was $0.68 - $0.73, against the consensus of $0.57. II-VI Inc. sees fourth quarter 2011 revenue of $129 - $134 million, against the consensus of $129.52 million. Full year 2011 EPS is expected to reach $2.58 - $2.63, against the consensus of $2.29. Full year 2011 revenue is projected to reach $500 - $505 million, against the consensus of $489.63 million.

Healthstream Inc. is trading almost 19 percent up; the company reported first quarter EPS of $0.07, $0.03 above the analyst estimate of $0.04. Revenue for the quarter came in at $18.5 million against the consensus estimate of $17.68 million.

W&T Offshore Inc. is trading over 16.0 higher; it reported first quarter EPS of $0.43, $0.12 above the analyst estimate of $0.31. Revenue for the quarter reached $210.9 million against the consensus estimate of $198.59 million.

Ultra Clean Holdings Inc. jumped over 15 percent; it reported first quarter EPS of $0.25, $0.04 above the analyst estimate of $0.21. Revenue for the quarter reached $126.7 million against the consensus estimate of $121.65 million. Ultra Clean Holdings Inc. projects second quarter EPS of $0.26-$0.29, against the consensus of $0.24. For the second quarter revenue estimates are from $128-$133 million, against consensus of $125.24 million.

II-VI Inc (Nasdaq:IIVI) Scores Another Strong Quarter

II-VI Incorporated (Nasdaq:IIVI) generated another solid performance in their latest quarter, increasing revenues by 76 percent, and EPS by 213 percent.

Needham says, "IIVI prior to the market open yesterday (Tuesday) delivered another superb quarterly report, highlighted by a 76% y/o/y increase in FQ2 revenues, 213% y/o/y growth in EPS and a 71% increase in bookings. The strength was broadly based across the company's commercial and military markets.

"We are raising our F11 revenue estimate to $485M from $453.8M and EPS estimate to $2.20 from $2.00. We are increasing our F12 EPS estimate to $2.50 from $2.20 on revenues of $525M, up from $497M previously."

Needham & Company maintains a "Buy" rating on II-VI, Inc. (IIVI), which closed Wednesday at $49.59, gaining $1.09, or 2.25 percent. Needham raised their price target on II-VI from $44 to $54.