Results tagged “JNY” from MarketMinute.com Market Updates

The Kuwaiti government cancelled a joint venture with Dow Chemical sending the markets tumbling with the Dow plummeting 93 points to 8422 while Nasdaq plunged 28 points to 1502.

On the upside

UBS upgraded homebuilder Standard Pacific (NYSE: SPF).

Last week, Yamana Gold (NYSE: AUY) completed a $200 million revolving credit financing deal.

Northwest Pipe Company (Nasdaq: NWPX) will supply Cableados Industriales SA de CV with approximately 15,000 feet of steel pipe for a Baja California project.

On the downside

SL Green Realty (NYSE: SLG) slashed its dividend by more than half.

Jones Apparel Group (NYSE: JNY) lowered its revolving credit facilities.

Disappointing holiday retail sales weighed down shares of Liz Clairborne (NYSE: LIZ).

In the broad market, declining issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq.  The Russell 2000 which tracks small cap stocks plunged 12 points to 465.

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.

The markets opened lower following news that retail sales fell 1.2% in September due to weak consumer sales.  The Dow lost nearly 300 points to 9025 while Nasdaq fell 35 points to 1744.

On the upside

JPMorgan Chase (NYSE: JPM) posted sharply lower profits as revenues fell.  However, the results beat lowered expectations.

Wells Fargo (NYSE: WFC) announced lower 3rd quarter earnings as it prepared for the acquisition of Wachovia Bank (NYSE: WB).

Hudson City Bancorp (Nasdaq: HCBK) posted higher earnings avoiding the loan losses affecting other banks.

On the downside

Chipmaker Linear Technology (Nasdaq: LLTC) posted better than expected 1st quarter results, but lowered its outlook for the 2nd quarter.

Oil prices fell below $80 a barrel.  Shares of Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) also dropped.

Shares of Jones Apparel Group (NYSE: JNY) fell to multi-year lows after the apparel maker lowered its profit outlook.

In the broad market, declining issues outpaced advancers by a margin of 7 to 1 on the NYSE and by more than 3 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks tumbled 23 points to 530.

Surprisingly strong retail sales in January boosted the markets to a higher close with the Dow leaping 179 points to 12,552.  Nasdaq surged 54 points to 2374.

On the upside

Shares of Nortel Networks (NYSE: NT) rose after CEO Mike Zafirovski said that the company will benefit when wireless phone carriers upgrade their networks.

Jones Apparel (NYSE: JNY) narrowed fourth quarter losses.

Fourth quarter earnings for Alpha Natural Resources (NYSE: ANR) fell sharply from last year.

On the downside

Although fourth quarter earnings for Healthcare Serivces Group (Nasdaq: HCSG) rose, the results fell short of estimates.

Standard & Poor's may cut its ratings on PMI Group (NYSE: PMI).

Tronox (NYSE: TRX) warned of losses for the fourth quarter due to tax charges and lower sales prices.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks surged 16 points to 722.