Ticker Talk

The Red Chip Review, the research division of Portland, Ore.-based RedChip.com, began coverage of Los Angeles-based GBC Bancorp (GBCB; $21.63, down 38 cents) on Wednesday in its latest update on smaller stocks. “With stable management and high margins with low risk, this bank is well positioned to become the leading trade bank to Taiwanese investors in the high-technology niche,” wrote analyst Mike Niehuser. Among other new ratings, Red Chip downgraded Irvine-based Aspeon Inc. (ASPE; $20.75, down $4.19), which was known until recently as Javelin Systems, to a “B.” “After doubling in one month, this stock could fall hard if management slips,” wrote analyst Tom Bernhardt. Aspeon changed its name Jan. 31, when it traded for $12.44, then began its climb to a record close of $28.81 on March 8, but the shares have cooled in the last week. . . . Bucking the Nasdaq sell-off, Seattle-based Loudeye Technologies (LOUD) more than doubled on its first day of trading Wednesday as investors placed bets on the future distribution of audio and video content over the Internet. The shares rose $24 to close at $40. The market Loudeye is focused on could be enormous, said Phil Leigh, an analyst with Raymond James Financial: “We’re like Balboa standing at the Isthmus of Panama and looking at the Pacific Ocean. We know it’s big but just don’t ask us to tell you how big.”