October 2007 Archives

Closing Bell Report

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The Federal Reserve's quarter point rate cut sent the markets soaring to a sharply higher close with the Dow leaping 138 points to 13,930.  Nasdaq jumped 42 points to 2859.

On the upside

Chinese insurance agency CNinsure (Nasdaq: CISG) surged on its first day of trading.

Higher licensing and commission revenue boosted third quarter earnings for Iconix Brand (Nasdaq: ICON) more than two times to beat expectations.

Commerce Group (NYSE: CGI) will be acquired by Spanish insurer Mapfre SA in a deal valued at approximately $2.21 billion.

On the downside

Surging sales lifted third quarter earnings above expectations for Huron Consulting (Nasdaq: HURN) but the company warned that fourth quarter as well as full year results will fall short of estimates.

An analyst downgraded LCA-Vision (Nasdaq: LCAV) after the company warned that fourth quarter results will miss expectations.

Monaco Coach (NYSE: MNC) swung to a third quarter profit but forecast disappointing fourth quarter results.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by a margin nearly of 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 828.

Mid-Day Report

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Stronger than expected growth in the third quarter lifted the markets higher during the midday with the Dow climbing 56 points to 13,848.  Nasdaq soared 20 points to 2837.

On the upside

First Consulting Group (Nasdaq: FCGI) agreed to be acquired by Computer Sciences for approximately $352.3 million.

Strong sales growth lifted second quarter earnings higher for McKesson (NYSE: MCK) to beat expectations.

Newmont Mining (NYSE: NEM) reported third quarter earnings that doubled due to one time gains.

On the downside

Although Buffalo Wild Wings (Nasdaq: BWLD) reported higher third quarter earnings, the results fell short of expectations.

Omnicare (NYSE: OCR) blamed lower reimbursement rates for a drop in third quarter earnings.

Third quarter earnings fell for Lincoln Financial (NYSE: LNC) due to lower sales of fixed rate annuities.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by a margin of 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 820.

Opening Bell Report

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The economy picked up steam in the 3rd quarter growing at a faster than expected 3.9% annual rate despite a credit crunch and sluggish housing market.  The Dow jumped 52 points to 13,844 while Nasdaq rose 10 points to 2826.

On the upside

MasterCard (NYSE: MA) announced sharply higher revenues and earnings as the credit card processor made strides overseas in emerging markets.

Shares of Google (Nasdaq: GOOG) surged past the $700 mark as the Internet search engine announced plans to challenge Facebook's social networking application platform.

SiRF Technology (Nasdaq: SIRF) posted 3rd quarter results that beat targets while analysts upgraded the wireless chip maker.

On the downside

Shares of Garmin (Nasdaq: GRMN) slid on worries that a bidding war with Tomtom to buy Tele Atlas may result in paying more than $3.3 billion for the digital map maker.

LodgeNet Entertainment (Nasdaq: LNET) posted a 3rd quarter loss despite higher revenues which prompted an analyst downgrade.

Shutterfly (Nasdaq: SFLY), the online photo service, announced wider losses due to higher costs and smaller margins.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by a margin of 6 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 817.

Closing Bell Report

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A drop in consumer confidence along with falling home prices sent the markets down to a lower close with the Dow tumbling 78 points to 13,792.  Nasdaq eased a point to 2817.

On the upside

Shares of Genoptix (Nasdaq: GXDX) surged on its first trading day.

Under Armour (NYSE: UA) reported higher third quarter earnings that surpassed expectations and lifted its full year guidance.

Goodyear (NYSE: GT) swung to a profit for the third quarter despite a drop in sales as the world's largest tire maker completed the sale of its engineered products unit.

On the downside

While LCA-Vision (Nasdaq: LCAV) posted sharply higher third quarter income, revenue missed expectations and the company warned that fourth quarter results will fall far short of estimates.

Shares of WellCare (NYSE: WCG) extended its losses after New York State regulators initiated a review of the company's Medicaid contracts.  The managed care services provider is already under investigation by the SEC, FBI, Department of Health and Human Services, and Florida's Medicaid Fraud Control unit.

Pitney Bowes (NYSE: PBI) disappointed with lower third quarter earnings and warned that fourth quarter results will fall short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 816.

Mid-Day Report

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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.

Opening Bell Report

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The markets opened lower as investors wondered if a rate cut by the Federal Reserve Bank this week could end the housing slump and stabilize the economy.  Meanwhile, U.S. home prices fell in August for the eighth month in a row.  The Dow lost 35 points to 13,834 while Nasdaq slipped 3 points to 2814.

On the upside

Franklin Electric (Nasdaq: FELE) posted earnings that beat estimates due to improving margins for its water systems and a reduction in inventory despite the slowing housing market.

Sepracor (Nasdaq: SEPR) posted lower profits that beat estimates while announcing plans to submit three new applications to the FDA during the 4th quarter.

An analyst upgraded FormFactor (Nasdaq: FORM) citing a strong 2008 outlook for the maker of equipment that tests semiconductors.

On the downside

Merrill Lynch (NYSE: ML) announced that Stan O' Neal, its embattled CEO, will retire effective immediately.

Procter & Gamble (NYSE: PG) posted higher 2nd quarter profits, but rising commodity and energy costs cut into margins.

American Medical Systems Holdings (Nasdaq: AMMD) posted 3rd quarter profit and revenues that missed expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by a margin of 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 819.

Closing Bell Report

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Investors eagerly anticipating another interest rate cut lifted the markets to a higher close even as crude oil prices soared to settle at a record $93.53 a barrel.  The Dow surged 64 points to 13,870 while Nasdaq climbed 13 points to 2817.


On the upside

Soaring oil prices lifted shares of solar cell maker China Sunergy (Nasdaq: CSUN).

Third quarter earnings for CTC Media (Nasdaq: CTCM) more than doubled as advertising revenue climbed.

Shares of Suntech Power (NYSE: STP) surged as crude oil prices soared to new highs.

On the downside

Clayton Holdings (Nasdaq: CLAY) was downgraded after reporting a third quarter loss on Friday.

Following the FBI raid on WellCare Health Plans' (NYSE: WCG) headquarters, the Securities and Exchange Commission has also requested information from the managed health care services provider.

Champion Enterprises (NYSE: CHB) will refinance its debt through a $130 million senior convertible notes offering.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 822.

Mid-Day Report

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Despite soaring oil prices, the markets traded higher during the midday in anticipation of an interest rate cut later this week.  The Dow climbed 49 points to 13,856 while Nasdaq gained 7 points to 2813.


On the upside

Winn-Dixie (Nasdaq: WINN) narrowed first quarter losses as margins improved and costs declined.

On Friday, Sierra Wireless (Nasdaq: SWIR) reported sharply higher third quarter earnings and forecast fourth quarter results ahead of expectations.

A Barron's article said that Weyerhaeuser (NYSE: WY) stock will double in value.

On the downside

Schnitzer Steel (Nasdaq: SCHN) blamed higher costs for a drop in fourth quarter earnings that fell short of expectations.

Office Depot (NYSE: ODP) delayed the release of its third quarter earnings while its audit committee reviews vendor program funds.

Third quarter earnings for Kaydon (NYSE: KDN) fell due to higher costs from a wind energy project.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by a margin of nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 821.

Opening Bell Report

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The markets opened higher as analysts mulled over the possibility of another interest rate hike ahead of this week's Federal Reserve meeting.  The Dow climbed 55 points to 13,861 while Nasdaq surged 17 points to 2821.


On the upside

Verizon Communications (NYSE: VZ) posted lower profits due to a tax charge, but revenues grew on an increase of cellphone accounts.

BEA System (Nasdaq: BEAS) refuted criticism about the way that it is handling the sale of the company after it rejected a $17 a share bid from Oracle (Nasdaq: ORCL) as too low.

Electronics retailer Radio Shack (NYSE: RSH) posted a 3rd quarter profit versus year-ago losses as product margins improved.

On the downside

Life Time Fitness (NYSE: LTM) shares were downgraded by an analyst on competitive concerns and the effect of slowing consumer spending on the fitness center operator.

Countrywide Financial (NYSE: CFC) pulled back from Friday's record rally as an analyst downgraded the stock due to persistent doubts about the housing market's imminent recovery.

Shares of chipmaker Nvidia (Nasdaq: NVDA) was downgraded by an analyst who worried about the chipmaker's longer term outlook due to product offerings from competitors.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by a margin of 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 825.

Closing Bell Report

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The markets surged to close sharply higher over strong earnings with the Dow leaping 135 points to 13,807.  Nasdaq jumped 53 points to 2804.


On the upside

Strong demand for Deckers Outdoor's (Nasdaq: DECK) UGG shoes lifted third quarter earnings to beat expectations.

Evergreen Solar (Nasdaq: ESLR) credited its cost control initiatives for narrowing third quarter losses and expects to trim losses even further in the fourth quarter.

Analsyts upgraded DeVry (NYSE: DV) after the for profit education company reported higher first quarter earnings that surpassed expectations.

On the downside

Although Online Resources (Nasdaq: ORCC) reversed year ago losses to post a profit for the third quarter, the results fell far short of expectations.

Friedman Billings (NYSE: BBX) downgraded BankAtlantic Bancorp over the weak real estate market in Florida.

Franklin Resources (NYSE: BEN) reported higher fourth quarter earnings but the results fell short of expectations.

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 surged 15 points to 821.

Mid-Day Report

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Upbeat earnings news lifted the markets higher during the midday with the Dow climbing 52 points to 13,724.  Nasdaq leaped 37 points to 2788.


On the upside

Visual Sciences (Nasdaq: VSCN) will be acquired by Omniture in a cash and stock deal valued at approximately $372 million.

Billionaire investor Kirk Kerkorian offered $64 a share to take a minority stake in Tesoro (NYSE: TSO).

MEMC Electronic Materials (NYSE: WFR) reported sharply higher third quarter earnings.

On the downside

Although Varian Semiconductor (Nasdaq: VSEA) surpassed expectations for the fourth quarter, the company forecast first quarter results below estimates.

Waste Management (NYSE: WMI) blamed a labor dispute as well as higher crude oil prices for a drop in third quarter earnings.  The garbage hauler also lowered its full year outlook.

Friedman Billings (NYSE: ABK) downgraded Ambac Financial Group.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 8 points to 814.

Opening Bell Report

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The markets opened sharply higher on upbeat earnings news.  The Dow surged 86 points to 13,758 while Nasdaq leaped 42 points to 2793.


On the upside

Microsoft (Nasdaq: MSFT) shares traded at their highest levels in more than 5 years as the software giant reported better than expected revenues and earnings due to strong Vista operating system sales and a successful video game title launch.

Countrywide Financial (NYSE: CFC) posted a 3rd quarter loss of $1.2 billion, its first quarterly loss in 25 years, but suggested that it will be profitable this quarter and through 2008.

The board of Merrill Lynch (NYSE: MER) was reportedly looking to replace its embattled chairman Stan O' Neal.

On the downside

Shares of BEA Systems (Nasdaq: BEAS) fell after the company flatly rejected the $17 a share bid by Oracle.

WellCare Health Plans (NYSE: WCG) continued to sell off after few details emerged from a raid of the company's headquarters by federal agents.

Shares of Trident Microsystems (Nasdaq: TRID) lost ground after the television chipmaker reported lower earnings and revenues that missed expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 9 points to 815.

Closing Bell Report

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The markets pared earlier losses but still closed lower as oil prices surged to close at a record $90.46 a barrel.  The Dow lost 3 points to 13,672 while Nasdaq dropped 24 points to 2751.


On the upside

Shares of Ulta Salon, Cosmetics & Fragrance (Nasdaq: ULTA) surged in its market debut.

Third quarter earnings for Sybase (NYSE: SY) soared on strong sales from its messaging unit.

Black & Decker (NYSE: BDK) blamed a weak market along with higher commodity prices for third quarter earnings that slipped but managed to surpass expectations.

On the downside

Although third quarter earnings for Vasco Data Secutiry (Nasdaq: VDSI) rose, the results fell short of expectations.

FormFactor (Nasdaq: FORM) delayed release of its third quarter results until the completion of an inventory review.

While Cummins (NYSE: CMI) reported higher third quarter earnings, the results missed expectations.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while deliners outpaced advancers by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 806.

Mid-Day Report

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The markets continued to trade in negative territory as crude oil prices spiked.  The Dow lost 18 points to 13,657 while Nasdaq tumbled 24 points to 2751.


On the upside

Akamai (Nasdaq: AKAM) reported higher third quarter earnings and lifted its full year guidance.

Suntech Power Holdings (NYSE: STP) signed a seven year fixed price contract to purchase $1.5 billion worth of polysilicon at price low enough to produce solar power that is competitive with grid power.

Third quarter earnings for EMC (NYSE: EMC) rose sharply prompting Bear Stearns to lift its price target on the stock.

On the downside

Analysts downgraded Align Technology (Nasdaq: ALGN) despite strong third quarter earnings after the company forecast fourth quarter results below expectations.

NII Holdings (Nasdaq: NIHD) posted higher revenues and profits but subscriber additions fell short of expectations.

The Federal Bureau of Investigation, the Department of Health and Human Services and the Floriday Attorney General's Medicare fraud division raided the headquarters of WellCare Health Plans (NYSE: WCG)  No details were released regarding the nature of the investigation.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 804.

Opening Bell Report

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The markets opened lower as orders for durable goods fell unexpectedly in September as investors worried about the overall economy.  The Dow fell 35 points to 13,639 while Nasdaq dropped 11 points to 2763.


On the upside

Motorola (NYSE: MOT) posted sharply lower earnings, but boosted its outlook for the 4th quarter.

Insurance bellwether Aetna (NYSE: AET) posted higher profits that beat expectations due to lower costs and growing membership.

VMWare (NYSE: VMW) posted profits that beat estimates as the virtualization software company nearly doubled its revenues versus the year-ago quarter.

On the downside

Comcast (Nasdaq: CMCSA) posted higher revenues, but profits fell due to slower customer growth and competition from phone and satellite TV services.

Symantec (Nasdaq: SYMC) posted higher revenues and profits that beat estimates, but analysts were dismayed by the security software maker's guidance for the 3rd quarter.

Investors sold off on shares of Celgene (Nasdaq: CELG) after the biotechnology company lowered its 2007 revenue outlook while maintaining its profit targets.

In the broad market, advancing issues outpaced decliners by a slim margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 810.

Closing Bell Report

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The markets narrowed earlier losses with a late afternoon rally but still closed lower with the Dow slipping a point to 13,675.  Nasdaq dropped 25 points to 2775.


On the upside

Third quarter earnings nearly doubled for Phase Forward (Nasdaq: PFWD) prompting the company to lift its full year outlook.

Carter (NYSE: CRI) reported higher third quarter earnings that beat expectations.

The Ports Association of Louisiana hired Shaw Group (NYSE: SGR) to study the state's ports for a possible expansion project.

On the downside

Anadigics (Nasdaq: ANAD) disappointed with third quarter results that fell short of estimates.

Analysts downgraded Broadcom (Nasdaq: BRCM) for merely meeting expectations rather than surpassing them.

Strong demand for liquid crystal display glass boosted third quarter earnings for Corning (NYSE: GLW) but the company warned that fourth quarter results will fall short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 811.

Mid-Day Report

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The markets extended its losses during the midday as existing homes sales plunged.  The Dow plummeted 150 points to 13,526 while Nasdaq skidded 60 points to 2739.


On the upside

Although third quarter earnings for Paccar (Nasdaq: PCAR) fell due to soft demand, the results beat expectations by 4 cents.

QLogic (Nasdaq: QLGC) reported lower second quarter earnings but revenue surpassed expectations.

While CEC Entertainment (NYSE: CEC) posted lower earnings, the results beat expectations.

On the downside

Riverbed Technology (Nasdaq: RVBD) swung to a third quarter profit but analysts were disappointed that the results merely met expectations rather than beat estimates.

While Electronics for Imagin (Nasdaq: EFII) swung to a third quarter profit, the results fell short of expectations.

Wall Street Journal reported increasing delinquencies of option adjustable rate mortgages originated by Countrywide Financial (NYSE: CFC).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 21 points to 797.

Opening Bell Report

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Falling home sales and news that Merrill Lynch, the world's biggest brokerage, wrote down $7.9 billion in mortgage-related losses weighed on investors.  The Dow lost 58 points to 13,617 while Nasdaq plummeted 30 points to 2768.


On the upside

Shares of Transmeta (Nasdaq: TMTA) tripled in value after the chip designer settled a patent lawsuit with Intel which will pay $150 million and a perpetual annual payment of $20 million for use of Transmeta's portfolio of patents.

Microsoft (Nasdaq: MSFT) withdraw its appeals from the EU antitrust case clearing the way for competitors and open source vendors to build applications with access to Windows code.

Taser (Nasdaq: TASR) announed earnings that more than doubled as the stun gun maker beat sales targets and benefitted from lower tax rates.

On the downside

Merrill Lynch (NYSE: MER) revealed that it was overexposed to subprime mortgages and took a $7.9 billion charge.

Clothing retailer Talbots (NYSE: TLB) warned of a loss in the second half the year due to slowing retail sales.

Oracle (Nasdaq: ORCL), which is in the middle of making an offer for BEA Systems (Nasdaq: BEAS), announced the purchase of Interlace Systems.  Terms of the deal were not disclosed.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by a margin of 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 810.

Closing Bell Report

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Upbeat earnings lifted the markets to a higher close with the Dow soaring 109 points to 13,676.  Nasdaq leaped 45 points to 2799. 

On the upside

Third quarter earnings more than doubled for Millicom International (Nasdaq: MICC) as subscriber numbers surged.

Netflix (Nasdaq: NFLX) reported higher third quarter earnings that surpassed expectations and lifted its fourth quarter outlook.

Better than expected advertising revenue lifted third quarter earnings for New York Times (NYSE: NYT).

On the downside

Ultra Clean Holdings (Nasdaq: UCTT) blamed weak demand for drop in third quarter earnings and warned that fourth quarter results will fall short of expectations.

Third quarter revenue fell for Unisys (NYSE: UIS) as restructuring efforts slowed.

Lexmark International (NYSE: LXK) blamed weak sales for sharply lower third quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of mroe than 2 to 1 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 819.

Mid-Day Report

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The markets retreated from early morning gains but continued to trade in positive territory with the Dow gaining 27 points to 13,594.  Nasdaq climbed 17 points to 2771. 

On the upside

Copernic (Nasdaq: CNIC) updated its mobile software so that a version that is optimized for the iPhone is available.

Analsyts upgraded Zoran (NYSE: ZRAN) after the microchip maker reported sharply higher third quarter earnings that surpassed expectations.

Although Western Union (NYSE: WU) reported lower earnings, the results beat expectations.

On the downside

Delcath Systems (Nasdaq: DCTH) suspended enrollment in a clinical trial of its liver cancer treatment due to safety concerns.

While Abassadors Group (Nasdaq: EPAX) reported higher third quarter earnings, the educational travel company warned of weakness in 2008.

PFF Bancorp (NYSE: PFB) swung to a third quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners barely edged out advancers by a margin of nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 808.

Opening Bell Report

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Solid corporate earnings gave both blue chips and tech stocks a lift. The Dow rose 62 points to 13,629 while Nasdaq surged 18 points to 2771. 

On the upside

Apple (Nasdaq: AAPL) polished off a solid quarter as sales of its Macintosh computers, iPods and iPhones beat expectations.

BP (NYSE: BP) posted lower profits due to higher costs and refinery outages, but the company expects to overcome its exposure to operational problems this quarter.

AT&T (NYSE: T) posted higher earnings and revenues that doubled as the nation's largest telecommunications company cited growth its wireless business while completing its acquisition of BellSouth.

On the downside

Level 3 Communications (Nasdaq: LVLT) continued to struggle as its reported a wider loss and lowered its outlook for 2007 and 2008 due to a glut in bandwidth capacity.

Analysts downgraded Texas Instruments (NYSE: TXN) on worries that its wireless chip business may face margin pressures.

Luxury hand bag and accessories maker Coach (NYSE: COH) may be facing a difficult holiday season due to recent slowdown in traffic to its retail stores.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 6 points to 816.

Closing Bell Report

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Upbeat earnings lifted the markets to a modestly higher close with the Dow climbing 45 points to 13,567.  Nasdaq soared 29 points to 2754.

 

On the upside

The estate of Craig Neilsen, which owns a majority of Ameristar Casinos (Nasdaq: ASCA), is exploring strategic alternatives for its stake in the casino operator.

Zebra Technologies (Nasdaq: ZBRA) swung to a third quarter profit as margins improved. 

Shares of Standard Pacific (NYSE: SPF) rose as short sellers bought to cover their positions.


On the downside

Lehman Bros. expects pressure on MetroPCS (NYSE: PCS) after the IPO lockup expired  last week.

Natural Health Trends (Nasdaq: BHIP) sold $3.74 million in convertible debentures and warrants through a private placement.

Analysts downgraded and slashed the price target for Angiotech (Nasdaq: ANPI) after the pharmaceutical cut its full year outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 810.

Mid-Day Report

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Retreating oil prices along with mergers and acquisitions news lifted the markets during the midday with the Dow climbing 50 points to 13,572.  Nasdaq rose 24 points to 2729.

 

On the upside

Vestar Capital will pay approximately $763.8 million to acquire Radiation Therapy Services (Nasdaq: RTSX).

A private equity fund will purchase Goodman Global (NYSE: GGL) in an all cash deal worth nearly $1.8 billion.

Home Inns & Hotels Management (Nasdaq: HMIN) will acquire Top Star.


On the downside

Mobile Mini (Nasdaq: MINI)  blamed higher costs for lowering its third quarter outlook.

Lehman Bros. downgraded the mortgage and specialty finance sector sending shares of MGIC Investment(NYSE: MTG) lower.

L. B. Foster (Nasdaq: FSTR) will announce earnings later this week.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 9 points to 808.

Opening Bell Report

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The markets opened mixed over earnings concerns with the Dow dropping 47 points to 13,475.  Nasdaq added 4 points to 2729.

 

On the upside

Plug Power (Nasdaq: PLUG) will provide fuel cells to power lift trucks at a Wal-Mart distribution center.

Strong demand lifted third quarter earnings for Ceragon Networks (Nasdaq: CRNT) more than two times last year.

Royal Caribbean Cruises (NYSE: RCL) beat third quarter expectations with higher earnings.


On the downside

Astec Industries (Nasdaq: ASTE)  blamed lower margins for third quarter earnings that fell short of expectations.

Although Schering-Plough (NYSE: SGP) reported higher third quarter earnings, the results fell short of expectations.

An analyst downgrade weighed down shares of Ultra Petroleum (NYSE: UPL).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 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 held steady at to 799.

Closing Bell Report

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On the 20th anniversary of the Black Monday crash, the markets plummeted to close sharply lower over disappointing earnings and record oil prices.  The Dow skidded 367 points to 13,522 while Nasdaq plunged 74 points to 2725.

On the upside

Ferris, Baker Watts analyst Matthew Robinson upgraded Packeteer (Nasdaq: PKTR) after the company reported third quarter revenue that surpassed expectations .

PMC-Sierra (Nasdaq: PMCS) narrowed third quarter losses and beat expectations as expenses dropped.

Although Boston Scientific (NYSE: BSX) swung to a loss for the third quarter, sales edged up.


On the downside

Concerns about a shortage of polysilicon supplies weighed down shares of LDK Solar (NYSE: LDK) .

Shares of oil services firm Smith International (NYSE: SII) tumbled after rival Schlumberger reported weakness in North American markets.

BMO analyst Kenneth Zaslow cited limited upside to the stock for downgrading Pilgrim's Pride (NYSE: PPC).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 26 points to 799.

Mid-Day Report

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The markets extended its losses during the midday over disappointing earnings and soaring oil prices.  The Dow plunged 195 points to 13,694 while Nasdaq plummeted 37 points to 2763.

On the upside

Titanium Metals (NYSE: TIE) will replace Bausch & Lomb, which is going private, on the S&P 500 .

Standard & Poor's announced that NYSE Euronext (NYSE: NYX) will replace Hilton Hotels on its S&P 500 index and will also replace Limited Brands on its S&P 100 index.

Steven Madden (Nasdaq: SHOO) is exploring the possible sale of the company.


On the downside

Shares of Omnicell (Nasdaq: OMCL) plunged despite sharply higher third quarter earnings.

The Pentagon placed a $376.6 million order for 800 MRAPs with Force Protection (Nasdaq: FRPT) but the stock price tumbled because a larger order was placed with rival International Military and Government.

Although Schlumberger (NYSE: SLB) reported higher third quarter earnings, the stock price fell over weakness in the North American market.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 10 points to 815.

Opening Bell Report

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The markets opened lower as oil prices surged above $90 a barrel.  The Dow plummeted 190 points to 13,699 while Nasdaq skidded 37 points to 2762.

On the upside

Needham & Co. upgraded CyberSource (Nasdaq: CYBS) after the electronic payment solutions provider reported a sharp gain in third quarter earnings.

Informatica (Nasdaq: INFA) beat expectations with higher third quarter earnings.

TempurPedic (NYSE: TPX) reported third quarter earnings that surpassed estimates and lifted its full year outlook.


On the downside

Angiotech Pharmaceuticals (Nasdaq: ANPI) released preliminary third quarter results that fell short of expectations.

Caterpillar (NYSE: CAT) reported third quarter earnings that fell short of expectations prompting the heavy equipment maker to cut its full year guidance.

Third quarter earnings fell for SanDisk (Nasdaq: SNDK) due to higher costs and acquisition related charges.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 10 points to 815.

Closing Bell Report

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The markets closed near the flatline over disappointing earnings.  The Dow slipped 4 points to 13,889 while Nasdaq added 7 points to 2799.

On the upside

Several Sharper Image (Nasdaq: SHRP) executives purchased stock in the company.

Stanley Gallery, a director of Ascent Solar Technologies (Nasdaq: ASTI), purchased 57,900 shares of company stock.

Cypress Semiconductor (NYSE: CY) reported third quarter earnings that nearly tripled due to strong sales.


On the downside

Bright Horizons Family Solutions (Nasdaq: BFAM) warned that third quarter results will fall short of expectations due to lower enrollment.

Although MoneyGram International (NYSE: MGI) reported higher third quarter earnings, the payment services company also narrowed its full year outlook.

Washington Mutual (NYSE: WM) sold $1 billion in perpetual securities through a private placement.

In the broad market, declining issues barely edged out advancers by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 825.

Mid-Day Report

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Disappointing earnings along with a jump in jobless claims weighed down the markets during the midday with the Dow dropping 43 points to 13,850.  Nasdaq tumbled 13 points to 2779.

On the upside

Galencia Group will acquire Aspreva Pharmaceuticals (Nasdaq: ASPV) in a deal valued at approximately $915.2 million.

Cantor Fitzgerald cited rising dry bulk rates for lifting the price target for Paragon Shipping (Nasdaq: PRGN).

Although third quarter earnings for Fairchild Semiconductor International (NYSE: FCS) slipped, the results surpassed expectations.


On the downside

Pfizer exited its partnership with Nektar Therapeutics (Nasdaq: NKTR) to jointly develop the inhalable insulin Exubera.

Shares of Vertex Pharmaceuticals (Nasdaq: VRTX) tumbled over news that rival Schering-Plough completed a successful mid-stage clinical trial of a hepatitis C treatment.

IMS Health (NYSE: RX) blamed higher tax expenses for third quarter earnings that slipped to miss expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 821.

Opening Bell Report

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The markets opened lower as investors mulled over the latest batch of earnings news.  The Dow lost 26 points to 13,866 while Nasdaq fell 8 points to 2783.

On the upside

Shares of Nokia (Nasdaq: NOK) rose after the company reported brisk handset sales and profits that nearly doubled.

Logitech International (Nasdaq: LOGI) posted higher sales and profits, but noted that the computer peripheral maker will write down a portfolio of bad investments.

Callaway Golf (NYSE: ELY) set guidance for an adjust profit versus an expected loss due to strong consumer demand for its products.


On the downside

EBay (Nasdaq: EBAY) posted a loss due to a significant write-down of its Skype acquisition.

Bank of America (NYSE: BAC) posted lower profits as trading losses mounted and the nation's second largest bank struggled with mortgage-related loan problems and credit losses due to bankruptcy reform.

E-Trade Financial (Nasdsaq: ETFC) reported a loss after writing down a portfolio of mortgage-backed securities and lowering its outlook for the year.

In the broad market, declining issues outpaced advancers by a margin of more than 2 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 gave up 6 points to 818.

Closing Bell Report

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It was a mixed close for the markets as soaring consumer prices overshadowed upbeat earnings. The Dow lost 20 points to 13,893 while Nasdaq climbed 29 points to 2793.

On the upside

Shares of Trans1 Inc. (Nasdaq: TSON) surged in its market debut.

Neurochem Inc. (Nasdaq: NRMX) said that the company had an $80 million cash position.

Third quarter earnings for Champion Enterprises Inc. (NYSE: CHB) rose to beat expectations.


On the downside

First Cash Financial Services Inc. (Nasdaq: FCFS) disappointed with third quarter results below expectations.

The Department of Education requested documents and records from Corinthian Colleges Inc. (Nasdaq: COCO) as part of an investigation.

CIT Group Inc. (NYSE: CIT) blamed a home lending charge for swinging to a third quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 825

Mid-Day Report

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The markets traded mixed during the midday as consumer prices surged in September. The Dow lost 16 points to 13,897 while Nasdaq climbed 21 points to 2785.

On the upside

China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF) won a government contract to develop a phone for police forces in two Chinese provinces.

Third quarter earnings slipped for Steel Dynamics Inc. (Nasdaq: STLD) but the results met expectations.

Manpower Inc. (NYSE: MAN) reported sharply higher third quarter earings as strong growth in Europe offset a drop in domestic revenue.

On the downside

The FDA notified Exact Sciences Corp. (Nasdaq: EXAS) that the company's PreGen-Plus colorectal screening device needs approval before going to market.

MGIC Investment Corp. (NYSE: MTG) swung to a third quarter loss and warned of losses through 2008.

Thornburg Mortgage Inc. (NYSE: TMA) swung to a wider than expected loss of more than $1 billion for the third quarter, or a loss of $8.83 per share.

 In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 827.

Opening Bell Report

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The markets opened higher as strong earning reports boosted the financial and Internet sectors. The Dow rose 26 points to 13,939 while Nasdaq leaped a sharper 26 points to 2790.

On the upside

JPMorgan Chase (NYSE: JPM) posted a small profit, but beat expectations despite writedowns of 41.3 billion on loan losses.

Investors were impressed with Yahoo's (Nasdaq: YHOO) initial turnaround efforts after posting higher profits.

Chip giant Intel (Nasdaq: INTC) posted a solid quarter that handily beat concensus estimates.

On the downside

WebMD Health (Nasdaq: WBMD) lowered its revenue outlook while raising its profit forecast.

Shares of Bon-Ton Stores (Nasdaq: BONT) fell after the apparel retailer lowered its earnings guidance due to weak 3rd quarter sales.

USANA Health Sciences (Nasdaq: USNA) lowered its profit targets due to slower nutrition and weight management product sales growth

In the broad market, declining issues outpaced advancers by a margin of nearly 2 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 added 6 points to 829.

Closing Bell Report

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The markets closed lower over comments from Fed chief Bernanke that the troubled housing markets will continue to weigh on the economy. The Dow tumbled 72 points to 13,913. Nasdaq dropped 16 points to 2764.

On the upside

Yucheng Technologies (Nasdaq: YTEC) paid approximately $3.3 million in cash to acquire Recency Technology.

Supervalu (NYSE: SVU) reported higher second quarter earnings that beat expectations.

Although third quarter earnings fell for Polaris Industries (NYSE: PII), the results surpassed expectations.

On the downside

Shares of Rodman & Renshaw (Nasdaq: RODM) tumbled on its first trading day.

Radian Group (NYSE: RDN) will release earnings on November 1.

A. O. Smith (NYSE: AOS) reported higher third quarter earnings but the results fell short of expectations. The company also announced that three electric motor plants wil be closed.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 6 points to 823.

Opening Bell Report

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The markets opened lower following remarks on the slowing economy made by Federal Reserve Chairman Ben Bernanke. The Dow lost 28 points to 13,956 while Nasdaq fell 6 points to 2773.


On the upside

Robbins & Myers (NYSE: RBN) posted profits that more than doubled as the industrial equipment maker boosted sales and cut costs.

E W Scripps (NYSE: SSP) announced plans to spin off its cable and interactive units into a separate company.

Immunomedics (Nasdaq: IMMU) was awarded a U.S. patent for an antibody used in the treatment of pancreatic cancer.

On the downside

Johnson & Johnson (NYSE: JNJ) posted lower profits due to lower sales and one-time charges related job cuts.

Shares of Delta Air Lines (NYSE: DAL) lost ground after the nation's third largest air carrier posted a wider profit due to higher sales and fuel hedging gains.

LM Ericsson Telephone (Nasdaq: ERIC) warned that 3rd quarter sales and earnings would miss expectations.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 826.

Opening Bell Report

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Higher stock futures at the opening bell quickly gave way to selling pressure as investors mulled over record high oil prices and the latest batch of earnings reports. The Dow lost 30 points to 14,062 while Nasdaq dropped 3 point to 2802.


On the upside

Biogen Idec (Nasdaq: BIIB) said that it planned to explore a sale of the company.

InfoSpace (Nasdaq: INSP) sold its mobile services business for $135 million to privately-held Motricity.

New Oriental Education & Technology Group (NYSE: EDU) posted higher profits due to an increase in enrollment. The company provides private education services in China.

On the downside

Citigroup (NYSE: C) posted sharply lower profits and took more than $3 billion in charges related to mortgage-backed investment losses.

Shares of Medtronic (NYSE: MDT) dropped after the company suspended sales of its defibrillator due to risk of breakage.

The CFO of Level 3 Communications (Nasdaq: LVLT) planned to step down by the first quarter of 2008.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by a margin of 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 837.

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