Results tagged “TTWO” from MarketMinute.com Market Updates
Private employers added more jobs than expected in August to lift the markets to a higher open with Dow climbing 83 points to 10,404. Nasdaq gained 23 points to 2224.
On the upside
Take-Two Interactive (Nasdaq: TTWO) reversed year ago losses to post a better than expected profit for the third quarter as revenue surged and lifted its guidance for the fourth quarter.
First quarter earnings fell for Finisar (Nasdaq: FNSR) but revenue climbed and the results topped analyst estimates.
In its just released August operational summary, MGIC (NYSE: MTG) subsidiary Mortgage Guaranty Insurance announced $1.2 billion in new insurance written.
On the downside
A Seeking Alpha article reported that patients on anti-obesity drugs discontinue using the medications due to side effects at a rate of 40% to 50% sending shares of Vivus (NYSE: VVUS), which is working with the Food and Drug Administration to win approval for its diet drug Qnexa, tumbling.
Celldex (Nasdaq: CLDX) and Pfizer (NYSE: PFE) ended their development and marketing agreement for Celldex's cancer vaccine rindopepimut.
Quiksilver (NYSE: ZQK) reported higher third quarter earnings but revenue fell to miss expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 641.
The markets opened higher with the Dow rising 47 points to 9987 ahead of wholesale inventories and sales data. Nasdaq gained 11 points to 2182.
On the upside
Take-Two Interactive (NYSE: TTWO) reversed year ago losses to post a better than expected profit for the second quarter.
Ciena (Nasdaq: CIEN) narrowed second quarter losses.
Teoco will pay approximately $58 million in cash to acquire TTI Team Telecom (Nasdaq: TTIL).
On the downside
Allscripts-Misys Healthcare Solutions (Nasdaq: MDRX) will acquire Eclipsys (Nasdaq: ECLP) in an all stock deal valued at approximately $1.3 billion.
France Telecom chief executive Stephane Richard said that Nokia (NYSE: NOK) is losing market share in Europe to Apple's (Nasdaq: AAPL) iPhone.
Ambac Financial (NYSE: ABK) warned that it may have to file for bankruptcy protection.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 622.
On the upside
Amkor Technology (Nasdaq: AMKR) cited better than expected demand for lifting its revenue guidance for the fourth quarter.
American International Group (NYSE: AIG) placed on hold plans to sell up to a 20% stake in its property and casualty unit Chartis.
A surprisingly strong gain in existing home sales for November lifted shares of KB Home (NYSE: KBH).
Danfoss will purchase the remaining 24.3% share of Sauer-Danfoss (NYSE: SHS) that it does not already own for approximately $118.8 million.
On the downside
GigaMedia (Nasdaq: GIGM) swung to a loss for the third quarter as revenue dropped.
Take-Two Interactive (Nasdaq: TTWO) announced plans to sell its Jack of All Games business which will cut its first quarter revenue by more than half.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 622.
On the upside
Research in Motion (Nasdaq: RIMM) impressed with higher third quarter earnings that topped analyst estimates as sales surged prompting upgrades.
Oracle (Nasdaq: ORCL) reported higher second quarter earnings that beat expectations due to favorable exchange rates.
Although Take-Two Interactive (Nasdaq: TTWO) widened fourth quarter losses, investors expect current quarter revenue to top estimates.
On the downside
Palm (Nasdaq: PALM) narrowed second quarter losses but a drop in smartphone sales weighed on investors.
RBC Capital Markets downgraded Career Education (Nasdaq: CECO).
LDK Solar (NYSE: LDK) modified its offering to approximately 16.5 million American Depository Shares to raise $108 million.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 607.
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
Shares of CIT Group (NYSE: CIT) rebounded as the commercial lender continued to negotiate with the FDIC for loan guarantees in order to stave off bankruptcy.
Johnson & Johnson (NYSE: JNJ) posted higher revenues and lower profits that beat expectations.
Noven Pharmaceuticals (Nasdaq: NOVN) received a $428 million cash offer from Japan-based Hisamitsu Pharmaceutical.
On the downside
Goldman Sachs (NYSE: GS) posted quarterly earnings that surpassed expectations as well as year-ago quarter results. Investors already anticipated the solid performance.
The Pentagon decided not to renew its military health care contracts with Humana (NYSE: HUM) and Health Net (NYSE: HNT). The contracts would go to Aetna (NYSE: AET) and UnitedHealth Group (NYSE: UNH) instead.
Shares of Take-Two Interactive Software (Nasdaq: TTWO) fell after the video game maker lowered its outlook due to slowing consumer demand and the delayed release of BioShock 2 until next year.
In the broad market, advancing issues outpaced decliners by a narrow margin on the NYSE, but were edged out by a margin of 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 491.
On the upside
Ferro (NYSE: FOE) amended its credit agreement to have more flexibility with the financial performance covenants.
JetBlue Airways (Nasdaq: JBLU) announced intentions to form additional international partners prompting an analyst upgrade.
Ford Motor (NYSE: F) announced that its agreement with the United Auto Workers union will yield annual savings of $500 million.
On the downside
TBS International (Nasdaq: TBSI) delayed the release of its earnings in order to complete the negotiation of covenant waivers.
Take-Two Interactive (Nasdaq: TTWO) widened first quarter losses due to higher costs and forecast disappointing second quarter results.
Collective Brands (NYSE: PSS) widened fourth quarter losses by a wide margin as sales tumbled and the company wrote down its acquisition of Stride Rite.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 375.
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.
The meltdown in the financial services and insurance sectors hammered stocks across the board. Meanwhile, oil prices tumbled below $95 a barrel. The Dow lost more
than 260 points at the opening bell to 11,155 while Nasdaq plummeted 50 points to 2210.
On the upside
Consumer electronics retailer Best Buy (NYSE: BBY) offered about $125 million in cash to buy music-sharing site Napster (Nasdaq: NAPS).
Airline stocks rose as oil prices continued to fall. Shares of Continental Airlines (NYSE: CAL) and AMR Corporation (NYSE: AMR) were among the few gainers in the broad market.
On the downside
Shares of Lehman
Brothers (NYSE: LEH) became worthless after the venerable investment bank failed to find a buyer or partners over the weekend in an emergency meeting and filed for bankruptcy.
Investors punished American International Group (NYSE: AIG) on fears that the insurance giant may be unable to secure capital.
Electronic Arts (Nasdaq: ERTS) withdrew its offer to buy Take Two Interactive Software (Nasdaq: TTWO) after the video game maker rejected the bid as too low.
In the broad market, declining issues swamped advancers by a margin
of more than 10 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The Russell 2000
which tracks small cap stocks fell 14 points to 706.
The markets opened mixed as investors mulled over the latest corporate earnings news while keeping an eye on higher oil prices. The major indexes were higher with the Dow adding 36 points to 13,023 and Nasdaq jumping 13 points to 2542.
On the upside
Greek dry bulk carrier Excel Maritime Carriers (NYSE: EXM) reported profits that tripled to beat forecasts.Excluding a goodwill writedown, Pacific Ethanol (Nasdaq: PEIX) posted higher earnings and revenues. Analysts had expected a modest loss and were worried about margins due to higher corn prices.
China-related stocks traded higher with investors snapping up shares of China Precision Steel (Nasdaq: CPSL) and Solarfun Power (Nasdaq: SOLF) in heavy trading.
On the downside
Video game publisher Electronic Arts (Nasdaq: ERTS) extended the deadline for the 3rd time its offer to buy smaller rival Take-Two Interactive Software (Nasdaq: TTWO). The offer remained at $2 billion or $25.74 a share.
Shares of NexCen Brands (Nasdaq: NEXC) tumbled after the cookie and pretzel franchise operator delayed its filings and warned about liquidity problems.
In the broad market, advancing issues outpaced decliners by a narrow margin on the NYSE and were edged out by a margin of 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 740.
The markets drifted lower after the government's February durable goods report showed a second straight month of declines. The Dow lost 89 points to 12,442 while Nasdaq dropped 19 points to 2321.
On the upside
Motorola (NYSE: MOT) announced plans to spin off its handset business into another publicly-traded company, a move long sought by shareholder activists.
Shares of Clearwire (Nasdaq: CLWR) rose on reports that the company may be selected to run a new wireless venture funded by Comcast (Nasdaq: CMCSA) and Time Warner (NYSE: TWC).
Ceragon Networks (Nasdaq: CRNT) is launching a new carrier-grade wireless Ethernet platform at an upcoming trade show. The stock rose in heavy trading.
On the downside
Efforts by private equity firms to raise $19.5 billion for the buyout of Clear Channel Communications (NYSE: CCU) was reportedly on the verge of being called off. The stock promptly lost 15% of its value.
Electronic parts manufacturer Jabil Circuit (NYSE: JBL) posted a 2nd quarter loss while lowering its guidance. Analysts promptly downgraded the stock.
Shares of Electronic Arts (Nasdaq: ERTS) slipped after it was officially rebuffed by rival game maker Take-Two (Nasdaq: TTWO) over a too-low $2 billion takeover bid.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 698.
The markets opened lower as oil prices surged above $110 a barrel. The Dow lost 63 points to 12,046 while Nasdaq gave up 5 points to 2238.
On the upside
Air Methods (Nasdaq: AIRM) posted higher 4th quarter profits due to increased revenues from a recent acquisition and lower tax expenses. Shares of the provider of emergency medical air transportation surged.Shares of Take-Two (Nasdaq: TTWO) edged higher as Electronic Arts (Nasdaq: ERTS) planned a hostile $2 billion tender offer over its video game rival.
UnitedHealth Group (NYSE: UNH) offered conservative guidance for the 1st quarter and the rest of the year, but remained mostly optimistic about its outlook.
On the downside
Shares of Bear Stearns (NYSE: BSC) slumped on news that Carlye Capital may soon lose all of its assets. As one of Carlye's creditors, Bear Stearns may end up with more mortgage-related writedowns.Sigma Designs (Nasdaq: SIGM) posted 4th quarter profits that missed targets. Analysts promptly downgraded the chip maker.
Time Warner's AOL unit (NYSE: TWX) announced a $850 million deal to buy social network Bebo.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 666.
The markets opened higher as investors focused on corporate merger news and a possible bail-out of the bond insurance sector. The Dow rose 48 points to 12,429 while Nasdaq climbed 6 points to 2310.
On the upside
Observers were hopeful that bond insurer Ambac Financial
Group (NYSE: ABK) may get a boost from a consortium of banks and investors.
Genentech (NYSE: DNA) received an FDA greenlight to accelerate approval for its breast cancer drug treatment.
On the downside
Shares of Syntel (Nasdaq: SYNT) fell after the information technology provider posted higher revenues and earnings, but warned of challening economic conditions.An analyst downgraded Smith Micro Software (Nasdaq: SMSI) which develops and markets wireless communications software.
Oppenheimer analysts lowered their opinion on the financial services sector weighing down shares of Washington Mutual (NYSE: WM) and Citigroup (NYSE: C).
In the broad market, advancing issues outpaced decliners by a margin
of nearly 3 to 2 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap
stocks rose 5 points to 701.