Results tagged “EMAG” from MarketMinute.com Market Updates

The markets rose during the midday with the Dow rising 60 points to 7949 as bank chief executives appeared before lawmakers to defend their use of bailout funds.  Nasdaq gained 8 points to 1532.

On the upside

Although XL Capital (NYSE: XL) widened fourth quarter losses due to over $1 billion in impairment charges, the results were better than analyst expectations.

Fourth quarter earnings for Marsh & McLennan (NYSE: MMC) eased but the results surpassed estimates.

Ingersoll-Rand (NYSE: IR) swung to a loss for the fourth quarter but the results beat expectations.

On the downside

Stanford International Bank will not finance the merger between Emageon (Nasdaq: EMAG) and Health Systems Solutions which was supposed to close today.

Modine Manufacturing (NYSE: MOD) warned of losses for the third quarter and is in discussions with its lenders to obtain a covenant waiver.

Fourth quarter earnings plunged for Great Plains Energy (NYSE: GXP) prompting the electric company to cut its full year guidance and lower its quarterly dividend.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq.  The Russell 2000 which tracks small cap stocks gained 4 points to 450.

The markets traded near the flatline during the midday with the Dow adding 3 points to 8472 while Nasdaq lost 5 points to 1520 as crude oil prices rebounded.

On the upside

Amazon.com (Nasdaq: AMZN) reported that the 2008 holiday shopping season was the best for the online retailer with over 6.3 million items ordered on its peak day.

John Dvorak of MarketWatch spotlighted Advanced Micro Devices (NYSE: AMD) as a 10-bagger stock, one whose stock price is expected to surge by a factor of ten over a two year period.

Sunrise Senior Living (NYSE: SRZ) entered a standstill agreement with two of its subsidiaries and its lender.

On the downside

Shares of Electronic Arts (Nasdaq: ERTS) fell after SpendingPulse reported a sharp 27% drop in sales of electronics and appliances.

Holiday retail sales fell for the first time in approximately forty years to weigh down shares of Wal-Mart (NYSE: WMT).

Emageon (Nasdaq: EMAG) announced that Stanford International Bank will not provide the necessary funds to complete Health Systems' acquisition of Emageon.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq.  The Russell 2000 which tracks small cap stocks eased a fraction to 470.

Retreating crude oil prices and better than expected consumer sentiment lifted the markets to a higher open with the Dow climbing 58 points to 8578.  Nasdaq added 12 points to 1544.

On the upside

The Food and Drug Administration approved Epix Pharmaceuticals' (Nasdaq: EPIX) magnetic resonance angiography blood vessel imaging agent Vasovist.

ProLogis (NYSE: PLD) announced plans to sell its Chinese properties and its stake in Japanese property funds to Singapore's GIC Real Estate for approximately $1.3 billion.

Health Systems Solutions closed its $62 million acquisition of medical technology firm Emageon (Nasdaq: EMAG).

On the downside

Washington Federal (Nasdaq: WFSL) blamed higher credit costs for slashing its quarterly dividend.

American Greetings (NYSE: AM) swung to a third quarter loss due to significant charges and lower revenue amidst a slumping economy.

KV Pharmaceutical (NYSE: KV-A) voluntarily suspended shipments of all drugs in tablet form and recalled a production lot of its pain management medication Hydromorphone.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by mroe than 5 to 3 on Nasdaq.  The Russell 2000 which tracks small cap stocks gained 5 points to 480.

Toyota warned that it will report its first loss since 1941 sending the markets down to a lower close with the Dow falling 59 points to 8520.  Nasdaq plunged 32 points to 1532.

On the upside

Wal-Mart (NYSE: WMT) made an all cash offer to acquire Chile's largest supermarket chain Distribucion y Servicio D&S S. A. (NYSE: DYS).

Shares of Standard Pacific (NYSE: SPF) continued to rise after the homebuilder acknowledged last week that it was in discussion with rival TOUSA regarding a possible merger or acquisition.

On the downside

Emageon (Nasdaq: EMAG) filed a claim with the Securities and Exchange Commission demanding that Health Systems Solutions set a closing date for its acquisition of Emageon.

Maguire Properties (NYSE: MPG) named Shant Koumriqian to the position of executive vice president and chief financial officer.

Shares of LSI (NYSE: LSI) continued to fall after lowering its fourth quarter forecast last week.

The Wall Street Journal reported that General Growth Properties (NYSE: GGP) agreed to seek the consent of certain lenders before making any significant decisions in order to extend the deadline for debt payment.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks tumbled 11 points to 475.

Despite soaring oil prices, the markets closed higher as investors went bargain hunting.  The Dow surged 118 points to 13,661 while Nasdaq leaped 30 points to 2825.

On the upside

Strong revenue growth (NYSE: GES) prompted Guess to lift its full year outlook.

Analysts interpreted the Federal Communications Commission's request for more data about the proposed merger between XM Satellite Radio (Nasdaq: XMSR) and Sirius Satellite Radio (Nasdaq: SIRI) as a sign that an approval is near.

Third quarter earnings for Valassis Communications (NYSE: VCI) more than doubled to surpass expectations.

On the downside

BioLase Technology CEO Jeffrey W. Jones (Nasdaq: BLTI) resigned after the widened third quarter losses.

Emageon (Nasdaq: EMAG) blamed disappointing sales for widening third quarter losses and lowered its full year outlook.

J. P. Morgan analyst Paul Coster said that although Novatel (Nasdaq: NVTL) reversed year ago losses to post a profit for the third quarter, he expects sales to drop next year.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7on Nasdaq.  The Russell 2000 which tracks small cap stocks soared 11 points to 802.