Results tagged “CPST” from MarketMinute.com Market Updates

A rebound in European markets restored investor confidence to lift the markets to a higher open with the Dow climbing 97 points to 10,288. Nasdaq gained 28 points to 2272.

On the upside

Zanett (Nasdaq: ZANE) reported that it has closed more than $12.6 million in new contracts in the second quarter and more than $29.7 million in new contracts year-to-date.

KornFerry International (NYSE: KFY) reversed year ago losses to post a profit for the fourth quarter.

Ram Energy Resources (Nasdaq: RAME) retained the services of Jefferies & Co. to explore strategic options including the possible sale of the company.

On the downside

Smart Balance (Nasdaq: SMBL) blamed the economy for cutting its sales outlook for 2010.

Capstone Turbine (Nasdaq: CPST) disappointed by widening fourth quarter losses as expenses rose.

First quarter earnings for Best Buy (NYSE: BBY) fell far short of analyst estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 656.

The escalating conflict between North and South Korea exacerbated global economic recovery concerns to send the markets tumbling during the midday with the Dow plunging 196 points to 9870. Nasdaq stumbled 44 points to 2169.

On the upside

The Food and Drug Adminstration approved Genzyme's (Nasdaq: GENZ) late-onset Pompe disease treatment Lumizyme.

Capstone Turbine (Nasdaq: CPST) introduced its CR200 Medium Btu microturbine product that meets the most stringent global emission requirements.

Dynegy (NYSE: DYN) entered a new $150 million credit facility with Morgan Stanley Capital Group.

On the downsideBank of America downgraded Arkansas Best (Nasdaq: ABFS) and cut its price target to $24 from $35 after the Teamsters rejected proposed wage cuts.

DiamondRock Hospitality (NYSE: DRH) will pay approximately $152 million to acquire Hilton Minneapolis. The real estate investment trust also announced an offering of 20 million common shares at $8.40 per share.

AAR (NYSE: AIR) forecast fourth quarter results that fell short of analyst estimates as demand remained weak.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 14 points to 627.

Existing home sales soared by a much larger than expected 7.6% but the markets opened mixed with the Dow losing 34 points to 10,159 while Nasdaq rose 8 points to 2237 over continued concerns about European debt.

On the upside

Gentiva Health Services (Nasdaq: GTIV) will pay approximately $1 billion in cash to acquire Odyssey Healthcare (Nasdaq: ODSY).

Goldman Sachs upgraded Sprint Nextel (NYSE: S) to a Buy rating and lifted its price target on the company from $3.50 to $6.

The Department of Energy awarded Capstone Turbine (Nasdaq: CPST) a $5 million contract to develop a more efficient microturbine.

On the downside

More than a month after the Deepwater Horizon explosion, BP (NYSE: BP) is still unable to contain the oil spill fouling the waters and wildlife in the Gulf of Mexico.

Dreamworks Animation's (Nasdaq: DWA) "Shrek Forever After" earned far less than expected at the box office on its opening weekend.

Shares of Banco Santander (NYSE: STD) fell after Goldman Sachs said that the restructuring of banks in Spain continues to be too slow .

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 646.

The markets recovered to trade modestly higher during the midday with the Dow adding 22 points to 10,415 as consumer prices rose less than expected in January with core inflation easing by 0.1%. Nasdaq rose 4 points to 2246.

 

On the upside

Fourth quarter earnings for Sapient (Nasdaq: SAPE) more than doubled to beat expectations.

RAIT Financial Trust (NYSE: RAS) reversed year ago losses to post a profit for the fourth quarter.

The creation of a Wholesale Applications Community by wireless carriers offering apps for smartphones lifted shares of Sprint (NYSE: S).

On the downside

Capstone Turbine (Nasdaq: CPST) priced its offering of 38.1 million common shares at $1.05 per share.

The Food and Drug Administration staff questioned the safety of Salix Pharmaceuticals' (Nasdaq: SLXP) Xifaxan as a liver disorder treatment.

Licensing discussions for ARYx Therapeutics' (Nasdaq: ARYX) oral antiarrythmic drug budiodarone collapsed forcing the biopharmaceutical to reduce its workforce and explore strategic options. 

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 631.

Comments by Federal Reserve Chairman Ben Bernanke that suggested a possible increase in interest rates sent the markets down to a moderately lower close with the Dow falling 20 points to 10,038. Nasdaq lost 3 points to 2147.

 

On the upside

OpenTable (Nasdaq: OPEN) impressed by swinging to a strong profit for the fourth quarter as reservations surged by 40%.

Capstone Turbine (Nasdaq: CPST) narrowed third quarter losses as the company reported record revenue.

American International Group (NYSE: AIG) introduced a new ranking system to determine incentive payments to employees.

On the downside

Fourth quarter earnings for The New York Times (NYSE: NYT) surged threefold to beat expectations but revenue continued to fall and the newspaper warned that print advertising will decline further.

EOG Resources (NYSE: EOG) reported lower fourth quarter earnings that fell short of expectations.

The Department of Transportation tentatively approved a plan by Delta Air Lines (NYSE: DAL) and US Airways (NYSE: LCC) to swap slots at LaGuardia and Ronald Reagan Washington National provided the two airlines sell some slots to rivals with limited or no service to those two airports. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 595.

The markets opened higher as retailers lured shoppers with bargain prices.  The Dow gained 41 points to 8510 while Nasdaq added 4 points to 1529.

 

On the upside

Jones Apparel Group (NYSE: JNY) consolidated and reduced its $1.25 billion lines of credit into a single $600 million line of credit with more flexibility.

The Federal Reserve approved GMAC's application to become a bank, which now allows the auto finance company to apply for government loans. General Motors (NYSE: GM) stock surged.

Intertgral Systems (Nasdaq: ISYS) reported higher fourth quarter earnings and revenue.

On the downside

Capstone Turbine (Nasdaq: CPST) filed a $150 million shelf registration with the Securities and Exchange Commission.

Investors locked in profits for EPIX (Nasdaq: EPIX), which won FDA approval for its imaging agent Vasovist on Wednesday.

The first decline in holiday sales in forty years weighed down shares of Dillards (NYSE: DDS).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks added a point to 472.

Falling factory orders along with soaring jobless claims weighed down the markets during the midday with the Dow plunging 272 points to 10,559.  Nasdaq skidded 64 points to 2005.

On the upside

Microchip Technology (Nasdaq: MCHP) and ON Semiconductor (Nasdaq: ONNN) made an unsolicited $2.3 billion offer to acquire Atmel (Nasdaq: ATML).

Capstone Turbine (Nasdaq: CPST) reported that sales of its C1000 Capstone MicroTurbine clean energy systems have surpassed expectations.

Although Micron Technology (NYSE: MU) widened fourth quarter losses, shares of the chipmaker rose on analyst comments that the company is a leader in the memory space.

On the downside

According to a Wall Street Journal article, senior executives of General Growth Properties (NYSE: GGP) have sold a total of 5.6 million shares of the real estate investment trust for approximately $112 million.

Con-way (NYSE: CNW) citied the sluggish economy for slashing its full year guidance prompting a downgrade.

Although The Shaw Group (NYSE: SGR) secured a $14.4 million Navy contract, shares of the construction company tumbled over concerns that the weak economy will weigh down revenue.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks plummeted 21 points to 651.

Bargain hunters lifted the markets to a higher open after yesterday's collapse with the Dow surging 169 points to 10,779.  Nasdaq leaped 38 points to 2137.

On the upside

The New York Times reported that Washington Mutual (NYSE: WM) hired Goldman Sachs (NYSE: GS) to sell itself. 

Rising crude oil prices lifted shares of Exxon Mobil (NYSE: XOM).

Bargain hunters snapped up shares of Verasun Energy (NYSE: VSE) after analyst downgrades sent the stock price tumbling.

On the downside

Capstone Turbine (Nasdaq: CPST) will raise approximately $29.5 million through the offering of common stock and warrants.

Real estate investment trust ProLogis (NYSE: PLD) blamed business development delays for lowering its full year guidance prompting a downgrade.

Oil and gas services company Tetra Technologies (NYSE: TTI) withdrew its 2008 earnings outlook due to damage inflicted by Hurricanes Gustav and Ike.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks climbed 9 points to 686.