Results tagged “HOV” from MarketMinute.com Market Updates
Despite a drop in first time jobless claims, the markets closed lower with the Dow dropping 74 points to 9985 over persistent concerns about the economy. Nasdaq tumbled 22 points to 2118.
On the upside
The Wall Street Journal reported that ArcSight (Nasdaq: ARST) was selling itself.
A drop in first time applications for unemployment benefits lifted shares of online employment solutions firm Monster Worldwide (NYSE: MWW).
Signet Jewelers (NYSE: SIG) reported higher second quarter earnings that beat analyst estimates.
On the downside
Shares of Hovnanian Enterprises (NYSE: HOV) dropped over record low new home sales.
Cisco Systems (Nasdaq: CSCO) will acquire ExtendMedia.
JDS Uniphase (Nasdaq: JDSU) swung to a fourth quarter profit but revenue fell short of expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 599.
The markets extended its gains during the midday with the Dow rising 34 points to 10,132. Nasdaq added 5 points to 2184.
On the upside
Private equity firm Onex offered approximately $4.38 billion in cash for Tomkins (NYSE: TKS).
Halliburton (NYSE: HAL) impressed with sharply higher second quarter earnings and revenue that easily topped analyst estimates.
Shares of for profit educators Corinthian Colleges (Nasdaq: COCO) and ITT Educational Services (NYSE: ESI) rose on rumors that the Department of Education's proposed post graduation gainful employment requirements for continued student loan funding will be less onerous than expected.
On the downside
Shares of Transocean (NYSE: RIG) fell over concerns of leakage from the capped oil well in the Gulf of Mexico.
Homebuilder sentiment plunged to weigh down shares of Hovnanian Enterprises (NYSE: HOV).
McMoRan Exploration (NYSE: MMR) narrowed losses for the second quarter but also cut its full year production guidance.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 609.
The markets traded mixed during the midday with the Dow slipping 22 points to 10,227 over weak May retail sales. Nasdaq added 5 points to 2286.
On the upside
Raymond James analyst Collin Gerry upgraded Hercules Offshore (Nasdaq: HERO) saying that the company was a shallow water driller and will be mostly unaffected by the moratorium on deep water drilling.
Origin Agritech (Nasdaq: SEED) acquired an 80% stake in agricultural chemical producer Shandong Kunfeng Biochemical in China.
First quarter same store sales surged 14.3% for Pier 1 Imports (NYSE: PIR).
On the downside
Coldwater Creek (Nasdaq: CWTR) reported an unexpected profit for the first quarter but women's apparel retailer warned of a second quarter loss prompting a downgrade.
Hovnanian Enterprises (NYSE: HOV) narrowed second quarter losses but revenue fell short of expectations.
As Massey Energy (NYSE: MEE) prepares to explore the mine where 29 workers were killed in an April explosion, an activist group is urging prosecutors to charge the company manslaughter.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 665.
On the upside
Dearborn Bancorp (Nasdaq: DEAR) swung to a profit as loan loss provisions tumbled.
Huntington Bancshares (Nasdaq: HBAN) reversed year ago losses to post a better than expected profit for the first quarter due to lower loan loss provisions.
Hovnanian Enterprises (NYSE: HOV) settled charges of violating the Clean Water Act by agreeing to pay a $1 million fine.
On the downside
Vitacost.com (Nasdaq: VITC) blamed lower than expected sales for cutting its outlook for the first quarter as well as the full year.
Canadian Solar (Nasdaq: CSIQ) warned of lower than expected margins for the first quarter.
AirTran Holdings (NYSE: AAI) blamed increased fuel expenses for swinging to a loss for the first quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 723.
On the upside
A surge in new home construction lifted shares of Hovnanian Enterprises (NYSE: HOV) and Beazer Homes (NYSE: BZH).
Second quarter earnings for AAR (NYSE: AIR) rose to beat expectations as expenses slipped.
Shares of Mizuho Financial Group (NYSE: MFG) soared after the Basel Committee on Banking Supervision delayed the enforcement of stricter capital requirements.
On the downside
Gilead (Nasdaq: GILD) stock continued to fall after its high blood pressure medication failed a late stage clinical trial.
Fifth Third Bancorp (Nasdaq: FITB) originated and renewed fewer commercial and industrial loans in October compared with September.
Shares of CVS (NYSE: CVS) slipped after Walgreen (NYSE: WAG) announced that it will expand its swine flu vaccination program to 27 states and make the vaccine available to anyone within the age requirement.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 611.
On the upside
Third quarter earnings for Diana Shipping (NYSE: DSX) plunged by half but the results topped analyst estimates.
Sonic Solutions (Nasdaq: SNIC) and Entone announced a partnership to deliver a comprehensive entertainment solution powered by Roxio CinemaNow.
Hovnanian (NYSE: HOV) said that a tax law change will result in a tax benefit in the first two quarters of 2010.
On the downside
Helicos BioSciences (Nasdaq: HLCS) will no longer sell itself but will continue to consider other strategic alternatives to increase shareholder value.
Although third quarter earnings rose for Flowers Foods (NYSE: FLO), revenue fell short of estimates due to heavy discounting and the company cut its guidance for the year.
Pike Electric (NYSE: PIKE) disappointed by swinging to a wider than expected loss for the first quarter prompting the company to withdraw its outlook .
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 592.
On the upside
Chelsea Therapeutics (Nasdaq: CHTP) reported that its neurological disorder treatment Droxidopa demonstrated significant improvement in patients.
Shares of Talecris Biotherapeutics (Nasdaq: TLCR) climbed on its first day of trading.
Colonial Properties Trust (NYSE: CLP) priced its public offering of approximately 10.5 million common shares at $9.50 per share.
On the downside
United Airlines parent UAL (Nasdaq: UAUA) will offer 19 million common shares and $175 million in senior convertible notes.
Credit Suisse analyst John P. McNulty downgraded Rockwood Holdings (NYSE: ROC) after a competitor cut prices.
Shares of Hovnanian (NYSE: HOV) tumbled despite a surge in August pending home sales.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 590.
On the upside
American Airlines (NYSE: AMR) received $2.9 billion in financing including $1 billion in cash from the sale of frequent flyer miles to Citigroup.
Zargis Medical received FDA clearance to sell its heart and lung sound recording device to the U.S. Army. The company is majority-owned by Speedus Corp. (Nasdaq: SPDE).
Shares of Hovnanian Enterprises (NYSE: HOV) and Pulte Homes (NYSE: PHM) edged higher as construction of new homes and construction rose 3.3% in August.
On the downside
Shares of Oracle (Nasdaq: ORCL) fell after reporting revenues and earnings late yesterday that missed expectations.
Discover Financial Services (NYSE: DFS) posted 3rd quarter profits that tripled boosted by a payment from a lawsuit settlement. The card lender also increased its loan-loss reserves.
Synovus Financial (NYSE: SNV) priced 150 million new shares at $4 apiece.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 618.
On the upside
Imperial Industries (Nasdaq: IPII) extended the terms of its credit facility.
Vical (Nasdaq: VICL) received a new patent for its Vaxfectin-formulated DNA vaccines for seasonal and pandemic flu viruses.
Del Monte Foods (NYSE: DLM) swung to a first quarter profit that topped estimates prompting the company to lift its full year outlook.
On the downside
Amedisys (Nasdaq: AMED) announced that its president and chief operating officer Larry Graham and its chief information technology officer Alice Schwartz both resigned.
Although Hovnanian Enterprises (NYSE: HOV) narrowed its third quarter loss, the results fell short of expectations.
A federal judge rejected a motion to dismiss a class action lawsuit accusing Moody's Corp. (NYSE: MCO) of fraud.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 557.
On the upside
Select Comfort (Nasdaq: SCSS) shareholders rejected a deal that would have given Sterling Partners a controlling interest in the company.
Hovnanian Enterprises (NYSE: HOV) will release third quarter earnings after market close on Wednesday, September 2.
Finland's largest utility Fortum selected Telvent (Nasdaq: TLVT) to develop an advanced metering infrastructure project using Echelon's (Nasdaq: ELON) Networked Energy Services system.
Trubion Pharmaceuticals (Nasdaq: TRBN) will receive up to $196.5 million from Facet Biotech for the marketing rights to its experimental leukemia drug TRU-016.
Intel (NYSE: INTC) lifted its outlook for the third quarter due to strong demand.
On the downside
The9 Limited (Nasdaq: NCTY) swung to a loss as revenue fell.
In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE and while decliners outpaced advancers by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 579.
On the upside
Blue Coat Systems (Nasdaq: BCSI) reversed year ago losses to post a profit for the first quarter.
Shares of Hovnanian Enterprises (NYSE: HOV) climbed after the Commerce Department reported that new home sales surged in July.
US Airways (NYSE: LCC) announced fee increases of $5 each for first and second checked bags.
On the downside
Although Concurrent Computer (Nasdaq: CCUR) reversed year ago losses to post a fourth quarter profit, the company warned of weakness in the first quarter.
Brown Shoe Co. (NYSE: BWS) swung to a loss for the second quarter as sales fell.
Shares of Citigroup (NYSE: C) fell even as mortgage applications rose.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 584.
On the upside
Shares of Hecla Mining (NYSE: HL) rose ahead of its earnings release tomorrow.
Although first quarter earnings for Whirlpool (NYSE: WHR) tumbled, the results topped estimates and the major appliance maker affirmed its full year guidance.
Shares of Beazer Homes (NYSE: BZH) and Hovnanian Enterprises (NYSE: HOV) continued to rise after a smaller than expected slip in new home sales report last week.
On the downside
UBS analyst William Truelove downgraded DiamondRock Hospitality (Nasdaq: DRH) after a recent surge in the stock price.
Shares of Royal Caribbean Cruises (NYSE: RCL) and Carnival (NYSE: CCL) plunged over fears that the swine flu outbreak will further hurt the travel industry.
Shares of pork producer Smithfield Foods (NYSE: SFD) plunged amidst fears of the swine flue.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap tumbled 9 points to 469.
On the upside
Wachovia upgraded Weingarten Realty Investors (NYSE: WRI).Shares of homebuilders Standard Pacific (NYSE: SPF), Hovnanian Enterprises (NYSE: HOV) and Beazer Homes (NYSE: BZH) all rose even as mortgage applications tumbled 11% last week as investors remain hopeful that a recovery is eminent.
CBL & Associates Properties (NYSE: CBL) announced that it will pay approximately $9.8 million in cash and approximately 4.8 million in common shares for dividends.
On the downside
Lufkin Industries (Nasdaq: LUFK) blamed lower commodity prices for a sharp drop in first quarter income that miss estimates by a wide margin.
Kennametal (NYSE: KMT) blamed the global economic downturn for slashing its third quarter outlook.
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 climbed 8 points to 461.
On the upside
Biodel (Nasdaq: BIOD) will submit a new drug application to the Food and Drug Adminstration for its diabetes treatment VIAject.
Analysts upgraded CB Richard Ellis Group (NYSE: CBG) after the real estate services firm changed its credit agreements.
Although Jabil Circuit (NYSE: JBL) widened second quarter losses, the results topped analyst estimates.
An unexpected gain in new home sales last month lifted shares of Beazer Homes (NYSE: BZH) and Hovnanian Enterprises (NYSE: HOV).
On the downside
DryShips (Nasdaq: DRYS) blamed a goodwill impairment charge along with contract termination fees for swinging to a loss for the fourth quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 424.
On the upside
Time Warner (NYSE: TWX) will take a 31% stake in Central European Media Enterprises (Nasdaq: CETV) for $241.5 million.
Shares of Hovnanian Enterprises (NYSE: HOV) rose after the National Association of Realtors reported higher existing home sales last month.
Privately held Stiefel Laboratories retained the services of Blackstone Group (NYSE: BX) to find suitors for the pharmaceutical.
Shares of Lloyds Banking Group (NYSE: LYG) and Barclays (NYSE: BCS) both soared after the U. S. government announced plans to remove up to $1 trillion in toxic assets from troubled banks.
Broadcom (Nasdaq: BRCM) introduced two new low power solutions for its digital signal processing technology.
Citi Investment Research analyst Jim Suva upgraded Corning (NYSE: GLW) saying that consumer demand will increase.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 420.
On the upside
Citi analyst Kate McShane said that OfficeMax (NYSE: OMX) can increase its market share as rival Office Depot (NYSE: OPD) closes 112 stores.
Kinross Gold (NYSE: KGC) will pay $150 million to take a nearly 20% stake in Harry Winston Diamond (NYSE: HWD) and a minority stake in the diamond company's Diavik diamond mind.
UBS upgraded Johnson & Johnson (NYSE: JNJ) after a Food and Drug Administration advisory panel recommended approval for the company's anticlotting drug rivaroxaban.
On the downside
Sony (NYSE: SNE) and LM Ericsson (Nasdaq: ERIC) warned that their joint venture Sony Ericsson will report a first quarter loss due to weak demand.
Wachovia downgraded Eagle Bulk Shipping (Nasdaq: EGLE).An analyst warned that Hovnanian Enterprises (NYSE: HOV) will use its cash and may not be able to repay $100 million in bonds.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 6 points to 407.
Disappointing corporate losses weighed down the markets to a lower close with the Dow tumbling 100 points to 8824. Nasdaq dropped 11 points to 1579.
On the upside
Macy's (NYSE: M) amended its $2 billion credit agreement making it more flexible.Deutsche Bank lowered its price target for FelCor Lodging Trust (NYSE: FCH) to $3.50. The real estate investment trust rose to close at $2.29.
Although the deal to take Huntsman (NYSE: HUN) private collapsed, Standard & Poor's is maintaining its ratings on the chemical maker.
On the downside
Hovnanian Enterprises (NYSE: HOV) chief executive Ara Hovnanian expects the housing market to continue to be challenging in 2009 and called upon the government to enact a stimulus package to shore up home prices.
Deutsche Bank (NYSE: DB) announced that it will not be able to repay a $1.4 billion bond in January as originally anticipated.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 487.
The Federal Reserve's aggressive interest rate cut that lowered the federal funds rate to range between zero and 0.25% sparked a rally with the Dow jumping 360 points to 8924. Nasdaq leaped 82 points to 1590.
On the upside
The Pep Boys (NYSE: PBY) declared a quarterly dividend of $0.0675 per share payable on January 26, 2009 to shareholders of record January 12, 2009.Beckman Coulter (NYSE: BEC) affirmed its 2008 outlook and forecast earnings to grow 10% per share in 2009 due to expense controls and higher margin sales.
Shares of Hovnanian Enterprises (NYSE: HOV) rose ahead of its earnings release after market close.
On the downside
Barclays Capital lowered its price target and cut its fourth quarter outlook as well as 2009 earnings expectations for Bank of America (NYSE: BAC).
Shares of Altria Group (NYSE: MO) fell despite a Court of Appeals rejection of a product liability claim against tobacco companies.
In the broad market, advancing issues outpaced decliners by nearly 6 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 30 points to 483.
The markets edged higher as investors mulled over easing oil prices and increased worker productivity. The Dow added 10 points to 12,412 while Nasdaq rose 8 points to 2488.
On the upside
Shares of Guess (NYSE: GES) soared after the apparel retailer posted strong 1st quarter results and raised its outlook through 2009.United Airlines (Nasdaq: UAUA) announced plans to cut capacity and workers in order to cope with record oil prices.
An analyst upgraded Koppers Holdings (NYSE: KOP) which makes coal-based and chemical products.
On the downside
Shares of Lehman Brothers (NYSE: LEH) remained under pressure as the investment bank sought new investors to shore up its balance sheet. Meanwhile, financial services firm State Street (NYSE: STT) announced a $2.5 billion stock offering.Hovnanian Enterprises (NYSE: HOV) posted its 7th consecutive quarterly loss amid slumping housing demand.
Information technology company Tibco Software (Nasdaq: TIBX) reported lower preliminary results late Tuesday.
In the broad market, declining issues outpaced advancers by a margin
of 4 to 3 on the NYSE and by a slim margin on Nasdaq. The
Russell 2000 which tracks small cap stocks held steady at 739.
The markets closed higher as crude oil prices retreated and retailers reported better than expected sales in April. The Dow climbed 52 points to 12,867 while Nasdaq gained 13 points to 2451.
On the upside
American Semiconductor (Nasdaq: AMSC) narrowed fourth quarter losses as sales of wind power and electric utility increased and lifted its full year guidance.Although second quarter earnings and revenue for Central Garden & Pet (Nasdaq: CENT) slipped, the results surpassed estimates.
Alcoa (NYSE: AA) named Klaus Kleinfeld to the position of chief executive.
On the downside
While Jarden (NYSE: JAH) reported first quarter earnings ahead of estimates, sales fell short.
OM Group (NYSE: OMG) blamed higher costs for sharply lower first quarter earnings that missed expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 720.