Results tagged “FDX” from MarketMinute.com Market Updates
New home sales climbed last month to lift the markets to a higher open with the Dow gaining 59 points to 10,484. Nasdaq rose 10 points to 2280.
On the upside
Onyx Pharmaceuticals (Nasdaq: ONXX) reported positive results from a Phase 2b clinical trial of its multiple myeloma treatment carfilzomib.
Barclays Capital analyst Vishal Shah upgraded A123 Systems (Nasdaq: AONE) and lifted his price target on the company to $16 from $14.
FedEx (NYSE: FDX) raised its earnings guidance for the first quarter as well as the full year.
On the downside
Goldman Sachs added Chico's FAS (NYSE: CHS) to its conviction sell list.
Second quarter earnings for FMC Technologies (NYSE: FTI) dropped as revenue fell.
Shares of LM Ericsson (Nasdaq: ERIC) continued to fall after reporting last week that second quarter earnings missed estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 656.
On the upside
General Mills (NYSE: GIS) posted slightly higher revenues and a 50% increase in quarterly income boosted by strong sales of higher-margin cereals.
Amusement park operator Cedar Fair (NYSE: FUN) received a $2.4 billion cash and debt offer to be taken over by a private equity firm.
A123 Systems (Nasdaq: AONE) announced a joint venture for car batteries with China's Shanghai Autos.
On the downside
Fedex (NYSE: FDX) posted lower quarterly profits that missed estimates and offered a cautious forecast for the current quarter.
Citigroup (NYSE: C) completed its secondary offering, but the discount disappointed investors.
GeoEye (Nasdaq: GEOY) warned that its revenues may be hit by a technical glitch. The company provides satellite imagery.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 608.
On the upside
United Parcel Service (NYSE: UPS) announced plans to hike shipping rates for 2010 and hinted at sustainable revenue growth. Share of rival Fedex (NYSE: FDX) also gained ground.
Toll Brothers (NYSE: TOL) posted lower 4th quarter revenues, but the luxury home builder noted that few buyers backed out of contracts.
Shares of Semiconductor Manufacturing International (NYSE: SMI) soared after the chipmaker settled all pending lawsuits with Taiwan Semiconductor (NYSE: TSM).
On the downside
Macy's (NYSE: M) posted a smaller 3rd quarter loss and raised its sales and profit outlook for the rest of the year, but the forecast missed analysts' expectations.
Adobe (Nasdaq: ADBE) announced job cuts to reduce 9% of its workforce due to slow sales of its Photoshop, Flash and Acrobat software programs.
Nationwide wireless data network Clearwire (Nasdaq: CLWR) received a nearly $1.2 billion investment from Sprint Nextel (NYSE: S).
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 7 points to 594.
On the upside
Barclays Capital upgraded American Axle & Manufacturing (NYSE: AXL).
MGM Mirage (NYSE: MGM) extended the exchange date for its senior notes.
FedEx (NYSE: FDX) lifted its outlook for the first quarter as international shipments improved.
On the downside
Finisar (Nasdaq: FNSR) announced a 1-for-8 reverse stock split effective September 25, 2009.
First quarter earnings for National Semiconductor (NYSE: NSM) tumbled.
Union Bankshares (NYSE: UBSH) priced its offering of 4.725 million common shares at $13.25 per share.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 596.
On the upside
Geron (Nasdaq: GERN) and GE Healthcare, a unit of General Electric (NYSE: GE) agreed to conduct joint research to develop embryonic stem cell products.
An analyst upgraded Fedex (NYSE: FDX).
Vical (Nasdaq: VICL) reported positive results for its swine flu vaccine works in mice.
On the downside
Schnitzer Steel Industries (Nasdaq: SCHN) unexpectedly posted a 3rd quarter loss.
American International Group (NYSE: AIG) sold off its credit card operations in Taiwan for an undisclosed amount.
Tobacco maker Alliance One International (NYSE: AOI) priced $100 million in senior subordinated debt.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 511.
On the upside
A Food and Drug administration advisory panel recommended approval for Savient Pharmaceuticals' (Nasdaq: SVNT) gout treatment prompting an upgrade.
Antigenics (Nasdaq: AGEN) will begin a Phase 3 clinical trial of its malaria vaccine RTS,S, which is the most advanced malaria vaccine in development.
Alvarion (Nasdaq: ALVR) secured a five year $100 million contract to provide wireless broadband network service to Open Range Communications.
On the downside
A jury ruled that two patents owned by Star Scientific (Nasdaq: STSI) were not infringed upon by RJ Reynolds (NYSE: RAI).
Standard & Poor's cut its ratings on KeyCorp (NYSE: KEY).
FedEx (NYSE: FDX) widened fourth quarter losses as revenue fell and warned that the global economic crises will continue to negatively impact results.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 499.
On the upside
FedEx (NYSE: FDX) posted lower 3rd quarter revenues and profits to miss analysts' estimates due to lower package volume. Nonetheless, the stock rose on aggressive cost-cutting plans.
Alcoa (NYSE:AA), the nation's largest aluminum producer, raised $1.3 billion through a stock and convertible note offering.
Shares of Oracle (Nasdaq: ORCL) surged after the software bellwether posted quarterly profits that beat targets despite a strong dollar lowering its overseas results. The company also announced its first dividend.
On the downside
Shares of fluid control products maker Graco (NYSE: GGG) skidded due to slackening demand. The company also announced plans to cut 180 jobs or 8% of its workforce.
Winnebago Industries (NYSE: WGO) posted another sizable loss as sales of recreational vehicles continued to fall along with the rest of the auto industry.
In the broad market, advancing issues outpaced decliners by a margin
of 5 to 4 on the NYSE, but were edged out by a margin of 10 to 9 on Nasdaq. The
Russell 2000 which tracks small cap stocks lost a point to 416.
First-time unemployment claims fell more than expected last week as the economy continued to absorb job losses. The Dow rose 20 points to 8844 while Nasdaq edge up 2 points to 1580.
On the upside
Discover Financial Services (NYSE: DFS) returned to profitability in the 4th quarter after receiving an $863 million payment from an antitrust settlement from MasterCard (NYSE: MA) and Visa (NYSE: V).Package delivery giant FedEx (NYSE: FDX) posted higher 2nd quarter profits attributed to lower fuel costs and announced plans to cut salaries and expenses due to an uncertain 2009 outlook.
Shares of Coca-Cola Enterprises (NYSE: CCE) rose after the soft drink bottler boosted its 2009 profit forecast.
On the downside
General Motors (NYSE: GM) denied reports that it has reopened merger talks with Chrysler. Both automakers were at risk of going bankrupt without a government bailout.
Computer-chip maker Atheros Communications (Nasdaq: ATHR) posted higher 3rd quarter revenues and earnings, but slashed its 4th quarter guidance.
In the broad market, declining issues outpaced advancers by a narrow margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 483.
Blue chip companies lowered their earnings outlook and announced job cuts amid the ongoing economic turmoil. The Dow lost 68 points to 8865. However, tech stocks were resilient as Nasdaq rose 14 points to 1586.
On the upside
Texas Instruments (NYSE: TXN) lowered its 4th quarter revenue and earnings outlook. However, investors had already discounted the company's valuation due to recent order cutbacks from Nokia (NYSE: NOK), which is the chipmaker's largest customer.Aiming to cut costs, Sony (NYSE: SNE) announced plans to cut 8000 jobs worldwide or 4% of its work force.
EXCO Resources (NYSE: XCO) reported positive results from its wells in North Louisiana and East Texas.
On the downside
The Kroger Company (NYSE: KR) posted higher 3rd quarter revenues and slightly lower profits. The results missed expectations; the shortfall was blamed on Hurricane Ike which temporarily closed grocery stores in September.
Medical imaging device maker Analogic (Nasdaq: ALOG) blamed the weak economy for a drop in quarterly earnings that missed expectations.
In the broad market, declining issues outpaced advancers by a margin
of nearly 2 to 1 on the NYSE and by 5 to 4 on Nasdaq. The Russell
2000 which tracks small cap stocks lost 3 points to 478.
The markets opened lower as investors mulled over the outlook for corporate earnings weighed down by record high oil prices. The Dow lost 86 points to 12,073 while Nasdaq dropped 24 points to 2432.
On the upside
Shares of YRC Worldwide (Nasdaq: YRCW) rose after the trucking company reaffirmed its 2nd quarter guidance.Analysts upgraded the railroad sector to lift shares of Union Pacific (NYSE: UNP) higher.
Chinese stocks surged overnight due to bargain hunting with shares of China Petroleum & Chemical Corp., or Sinopec (NYSE: SNP) leaping 10%.
On the downside
FedEx (NYSE: FDX) delivered a disappointing 4th quarter loss as the international package delivery company wrestled with a weak U.S. economy and soaring oil prices.
Fifth Third Bancorp (Nasdaq: FITB) slashed its divided and announced plans to raise at least $2 billion in capital to shore up its balance sheet.
Lindsay Corp. (NYSE: LNN), maker of irrigation products, posted higher 3rd quarter revenues and profits, but the results were well short of Wall Street expectations.In
the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by a margin of nearly 3 to 1 on Nasdaq. The
Russell 2000 which tracks small cap stocks dropped 9 points to 727.
The markets opened higher as oil prices pulled back below $100 a barrel. The Dow rose 80 points to 12,190 while Nasdaq added 12 points to 2222.
On the upside
Dow component General Electric (NYSE: GE) was upgraded by analysts.
Shares of Wal-Mart Stores (NYSE: WMT) hit a new 52-week high due to a consumer product line-up compatible with a slowing economy.
Retail bookstore chain Barnes & Noble (NYSE: BKS) reported lower 4th quarter profits and revenues, but went ahead with an increase in its quarterly cash dividend. Meanwhile, rival Borders Group (NYSE: BGP) announced that it was putting itself up for sale.
On the downside
FedEx (NYSE: FDX) reported a slight decline in profits as higher oil prices cut into margins. Management warned about a challenging economic environment through the rest of the year.
Shares of Public Service Enterprise Group (NYSE: PEG) fell despite offering a very robust outlook. The utility distributes electric energy and natural gas in the Northeast and Mid-Atlantic U.S.
Quixote Corporation (Nasdaq: QUIX) expected flat sales versus year-ago levels as poor weather affected purchases of its highway equipment.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 6 points to 670.
Investors were mostly pleased with the latest batch of corporate earnings against the backdrop of a slowing economy. The Dow rose 46 points to 13,254 while Nasdaq surged 21 points to 2622 on hopes of a resilient software sector.
On the upside
Oracle (Nasdaq: ORCL) posted revenues and earnings that surpassed analysts' expectations late yesterday and issued an upbeat forecast for 2008.
Bear Stearns (NYSE: BSC) posted its first loss in the company's 84-year history due to significant exposure to mortgage-backed securities. The investment bank decided to pay a full dividend.
Athletic retailer Nike (NYSE: NKE) posted a healthy increase in sales and earnings due to strength from its European and Asian operations.
On the downside
Package courier FedEx (NYSE: FDX) posted a smaller profit to meet lowered expectations blaming high fuel costs and a sluggish U.S. economy.
Rite Aid (NYSE: RAD) continued to struggle as its quarterly losses widen while the pharmacy retail store operator lowered its 2008 forecast for a second time.
Investors worried about rising credit protection costs at MBIA (NYSE: MBI) which has significant exposure to more than $30 billion of collateralized debt obligations.
In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by a margin of 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose a fraction to 754.
The markets opened mixed as falling industrial production reinforced the notion of a slowing economy. The Dow edged up 12 points to 13,122 while Nasdaq lost 13 points to 2605.
On the upside
Garmin (Nasdaq: GRMN) withdrew its offer to buy Tele Atlas for $3.3 billion. Instead, the personal navigation device maker struck a deal with Navteq.
Agilent Technologies (NYSE: A) posted higher profits boosted by strong sales of its bio-analysis products.
Salesforce (Nasdaq: CRM) reported higher earnings as the online customer relations management software provider continued to add users at a brisk rate.
On the downside
FedEx (NYSE: FDX) lowered its profit outlook due to higher fuel costs cutting into margins and a slowing freight market.
Shares of Franklin Credit Management (Nasdaq: FCMC) tumbled after it announced the possibility of insolvency and suspended the funding of new loans.
Virgin Mobile USA (NYSE: VM) posted higher revenues and expected a solid holiday sales season, but losses widened.
In the broad market, advancing issues edged out decliners by a margin of 10 to 9 on the NYSE, but were outpaced by a margin of 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased 2 points to 768.