Results tagged “SWHC” from MarketMinute.com Market Updates
The markets opened higher with the Dow rising 30 points to 10,445 ahead of the Commerce Department's wholesale inventory report. Nasdaq added 7 points to 2243.
On the upside
Second quarter earnings more than doubled for Lululemon Athletica (Nasdaq: LULU) as revenue surged to surpass analyst expectations.
Nokia (NYSE: NOK) will replace chief executive Olli-Pekka Kallasvuo with Microsoft (Nasdaq: MSFT) executive Stephen Elop on September 21.
American Eagle Outfitters (NYSE: AEO) chairman Jay L. Schottenstein purchased nearly $6.8 million worth of common stock.
On the downside
Smith & Wesson (Nasdaq: SWHC) reported sharply lower first quarter earnings as revenue fell to miss estimates and the gun maker forecast second quarter results below expectations.
Crocs (Nasdaq: CROX) affirmed its third quarter outlook but analysts were expecting slightly higher revenue.
First quarter earnings surged nearly threefold for National Semiconductor (NYSE: NSM) but the chipmaker forecast second quarter revenue below estimates.
In the broad market, advancing issues outpaced decliners 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 added 3 points to 637.
On the upside
Although ATO Oil & Gas (Nasdaq: ATPG) reported a fourth quarter loss, reserves have been replaced 376%.
Ener1 (Nasdaq: HEV) narrowed losses for the fourth quarter and announced the completion of a $118.5 million Department of Energy grant.
Quiksilver (NYSE: ZQK) narrowed first quarter losses more than expected even as revenue slipped.
On the downside
Broadwind Energy (Nasdaq: BWEN) blamed charges for widening fourth quarter losses.
G. Willi-Food International (Nasdaq: WILC) priced its public offering of more than 3.3 million shares at $6.05 per share.
Smith & Wesson (NYSE: SWHC) reported flat third quarter earnings as revenue fell short of estimates and the gun maker forecast disappointing fourth quarter results.
In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 674.
On the upside
Marvell Technology (Nasdaq: MRVL) reported sharply higher third quarter earnings that topped analyst estimates as revenue surged.
Third quarter earnings for Big Lots (NYSE: BIG) more than doubled in the third quarter prompting the closeout retailer to boost its fourth quarter outlook.
FBR Capital Markets analyst upgraded Synovus Financial (NYSE: SNV) saying that the stock price has plunged 61% over the last three months.
On the downside
Take-Two Interactive Software (Nasdaq: TTWO) cut its forecast for the third and fourth quarters and warned of greater than expected losses for the full year prompting downgrades.
While Smith & Wesson (Nasdaq: SWHC) reversed year ago losses to post a second quarter profit, the gun maker forecast third quarter sales below expectations.
An appeals court ruled that more environmental analysis must be conducted at the site of Barrick Gold's (NYSE: ABX) Cortez Hills project.
In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 15 points to 604.
On the upside
Warner Chilcott (Nasdaq: WCRX) offered $3.1 billion to buy the prescription drug unit from Procter & Gamble (NYSE: PG).
Financial services companies rose across the board following analyst upgrades. Shares of Citigroup (NYSE:C), Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) rose sharply on heavy volume.
Shares of Charlotte Russe Holding (Nasdaq: CHIC) surged after the women's clothing retailer arranged its sale to a private equity firm for $380 million.
An analyst upgraded Advanced Micro Devices (NYSE: AMD) citing increased business with PC maker Hewlett Packard (NYSE: HPQ).
On the downside
Standard & Poor's Ratings Services lowered the credit rating of American Capital (Nasdaq: ACAS), a private equity and venture capital firm.
Shares of Smith & Wesson (Nasdaq: SWHC) eased after an analyst downgraded the stock citing slowing demand for firearms.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 584.
On the upside
Italy's only telecom selected Alvarion (Nasdaq: ALVR) to deploy a nationwide wireless network.
LabCorp will pay approximately $106.7 million to acquire Monogram Biosciences (Nasdaq: MGRM).
Standard & Poor's will replace Tyco Electronics (NYSE: TEL), which is being reincorporated in Switzerland, with MetroPCS (NYSE: PCS) on the S&P 500 index.
On the downside
Rambus (Nasdaq: RMBS) cut its second quarter revenue forecast and warned of higher litigation expenses.
Although fourth quarter earnings for Smith & Wesson (Nasdaq: SWHC) more than doubled to beat expectations, the firearms maker said that order backlogs will fall in the first quarter. Boeing (NYSE: BA) once again postponed the initial test flight of its next generation 787 jetliner saying that a section of the aircraft must be reinforced.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 2 points to 495.
On the upside
The new 3G S iPhone went on sale at Apple (Nasdaq: AAPL) and AT&T (NYSE: T) stores this morning.
Sealy Corp. (NYSE: ZZ) offered solid guidance for its mattress business to surpass analysts' expectations.
Shares of Smith & Wesson (Nasdaq: SWHC) surged after the firearms maker posted higher revenues. Analysts promptly upgraded the stock.
Auto retailer CarMax (NYSE: KMX) posted lower 1st quarter revenues and profits, but the results beat expectations.
On the downside
E-Trade Financial (Nasdaq: ETFC) priced a public offering of 435 million shares of common stock at $1.10 per share.
Teekay Tankers (NYSE: TNK) offered 7 million common shares to buy a tanker and pay down debt.
In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by a margin of 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 517.
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.
Investors continued to worry about mounting losses among automotive and financial services firms. The
Dow gave up earlier gains to close at 8870, down 73 points. Nasdaq tumbled 30 points to finish the trading session at 1616.
On the upside
Shares of Geron (Nasdaq: GERN) and StemCells, Inc. (Nasdaq: STEM) rose on hopes that an Obama administration may lead to a favorable business environment for stem cell companies.Worries of a possible ban on firearm sales led to a surge in gun buying which lifted shares of Smith & Wesson (Nasdaq: SWHC).
Las Vegas Sands (NYSE: LVS) managed to raise $2.14 billion in new capital, but the new funding missed targets as the struggling casino operator suspended development of a condominium tower in Las Vegas.
On the downside
Starbucks (Nasdaq: SBUX) posted slightly higher revenues and a slim profit that missed expectations as the coffee purveyor closed 600 stores and cut more than 1000 positions.
Shares of American Capital (Nasdaq: ACAS) tumbled to an all-time low after the investment firm reported a quarterly loss and suspended its dividend.
In the broad market, declining issues outpaced advancers by a margin
of more than 2 to 1 on both the NYSE and Nasdaq. The
Russell 2000 which tracks small cap stocks lost 12 points to close at 493.
Unexpectedly sharp job losses in August lifted the nation's unemployment rate to a five year high to weigh down the markets during the midday with the Dow falling 24 points to 11,165. Nasdaq tumbled 15 points to 2244.
On the upside
Jefferies & Co. analyst Robert Schenosky upgraded GrafTech International (NYSE: GTI) on the expectation that electrode prices will climb next year.
Quicksilver (NYSE: ZQK) reversed year ago losses to report a profit for the third quarter as revenue rose to surpass estimates.
Hoku Scientific (Nasdaq: HOKU) announced a 10-year contract valued at up to $455 million to provide polysilicon to Solargiga Energy Holdings.
On the downside
First quarter earnings for Smith & Wesson Holding (Nasdaq: SWHC) dropped to fall short of estimates. Analysts warned of high inventories and continued pricing pressures.
Pike Electric (NYSE: PEC) reported flat fourth quarter earnings as revenue fell and forecast full year results below expectations.
Although Exelon (NYSE: EXC) lifted its fiscal 2008 guidance, the outlook fell short of analyst expectation.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 7 points to 711.
A series of downgrades in the financial sector as well as the automotive industry sent the markets reeling with the Dow plummeting 256 points to 11,556. Nasdaq skidded 68 points to 2333.
On the upside
Keefe Bruyette upgraded City National (NYSE: CYN) saying that the company's solid customer base will help it outperform its competitors.Rising gold prices lifted shares of Kinross Gold (NYSE: KGC) and Agnico Eagle Mines (NYSE: AEM).
Shares of Smith & Wesson (NYSE: SWHC) rose after the Supreme Court upheld an appellate court decision affirming a citizen's constitutional right to possess hand guns for self defense.
On the downside
Agria (NYSE: GRO) swung to a loss for the fourth quarter of 2007 as well as the first quarter of 2008 while 2007 full year earnings dropped.OshKosh (NYSE: OSK) warned of a third quarter loss as the economy weakens.
Goldman Sachs analyst Patrick Archambault downgraded auto supplier Lear (NYSE: LEA) due to the troubled auto industry.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 17 points to 700.
Investors worried about the economy following a weak February employment report by the Labor Department. The markets opened mostly lower with the Dow losing another 50 points to drop below 12,000 shortly after the opening bell. Nasdaq slipped 3 points to 2216.
On the upside
Gun maker Smith & Wesson (Nasdaq: SWHC) posted a 3rd quarter loss versus year-ago profits due to higher costs. The results beat analysts' expectations.
Shares of Ciena (Nasdaq: CIEN) rose after the communications equipment company posted profits that tripled and boosted its outlook for the year.
National Semiconductor (NYSE: NSM) posted lower profits that beat estimates as demand from handset makers rose.
On the downside
The financial services sector was under pressure as analysts warned of more margin calls at Carlye Capital. Shares of Freddie Mac (NYSE: FRE) and IndyMac Bancorp (NYSE: IMB) lost ground.
PeopleSupport (Nasdaq: PSPT) posted higher profits and announced a stock buyback, but its shares tumbled after the business outsourcing company lowered its guidance for the 1st quarter.
Shares of DealerTrack (Nasdaq: TRAK) continued to slump after an analyst downgraded the technology provider for the automotive retail industry.
In the broad market, declining issues outpaced advancers by a margin of 3 to 1 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 660.
Solid job creation in November kept the unemployment rate steady at 4.7%. Meanwhile, oil prices edged above the $90 a barrel mark. The Dow slipped 7 points to 13,611 while Nasdaq dropped 10 points to 2698.
On the upside
Canada-based IMAX (Nasdaq: IMAX) signed a projection-screen deal with AMC Entertainment to install its trademark digital screens in 100 theaters.
Analysts raised their opinion of Shaw Group (NYSE: SGR) citing strong growth through next year for the engineering and construction company.
Synopsys (Nasdaq: SNPS) reported earnings that beat estimates as the developer of software design tools for semiconductors posted higher revenues.
On the downside
Gemstar-TV Guide International (Nasdaq: GMST) received a $2.8 billion cash and stock offer from Macrovision (Nasdaq: MVSN). Both stocks opened lower on the news.
Shares of Smith & Wesson Holding (Nasdaq: SWHC) tumbled after the gun maker lowered its 2008 profit outlook again.
Student loan services provider First Marblehead (NYSE: FMD) slashed its dividend as shares sank to a new 52-week low.
In the broad market, advancing issues outpaced decliners by a narrow margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks gave up 2 points to 784.
Falling home prices weighed down the markets during the midday with the Dow dropping 43 points to 13,827. Nasdaq eased a point to 2818.
On the upside
Higher sales boosted third quarter earnings for Atheros Communications (Nasdaq: ATHR) to beat expectations.
China Corporate Credit Assurance will deploy Superconductor Technologies' (Nasdaq: SCON) SuperLink product in second and third generation networks in China.
Third quarter earnings for Agco (NYSE: AG) surged over robust global demand for farm equipment prompting the agricultural equipment distributor to lift its full year guidance.
On the downside
On Semiconductor (Nasdaq: ONNN) reported lower third quarter earnings that fell short of expectations and forecast disappointing fourth quarter results.
Smith & Wesson (Nasdaq: SWHC) released preliminary second quarter results that missed estimates and slashed its full year guidance.
While a tax benefit lifted third quarter earnings for Qwest Communications (NYSE: Q), revenue fell.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 818.