August 2009 Archives

The markets closed lower with the Dow falling 47 points to 9496 after a sell-off in the Chinese markets. Nasdaq lost 19 points to 2009.

On the upside 

Robert W. Baird & Co. analyst Jeff D. Johnson upgraded Varian Medical Systems (NYSE: VAR) citing improving demand.

Speculation that Sequenom (Nasdaq: SQNM) may report positive test results for its prenatal Down Syndrome test lifted shares of the genetic analysis products maker.

An analyst raised the price target for J. P. Morgan (NYSE: JPM) to $48 from $40.

On the downside

Raymond James & Co. analyst Buck Horne downgraded Standard Pacific (NYSE: SPF) citing valuation concerns.

A Barron's article suggested that Citigroup's (NYSE: C) stock price is too high.

Fannie Mae (NYSE: FNM) announced that it will sell $1 billion worth of three month benchmark bills and $1 billion worth of six month bills.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks lost 7 points to 572.

A sharp drop in the Chinese stock market sent domestic markets tumbling with the Dow falling 87 points to 9456. Nasdaq dropped 27 points to 2001.

On the upside 

AuthenTec (Nasdaq: AUTH) announced plans to expand its Shanghai operations.

Citadel Investment Group cancelled plans to sell as much as 120 million common shares of E-Trade (Nasdaq: ETFC).

Shares of Trubion Pharmaceuticals (Nasdaq: TRBN) continued climbing after announcing last week that it licensed its chronic lymphocytic leukemia treatment TRU-016 to Facet Biotech for $196.5 million.

On the downside

Tower Semiconductor (Nasdaq: TSEM) was chosen by TAEJIN Technology to provide low power, high efficiency voltage regulators but the stock price dropped.

Shares of Echelon (NYSE: ELON) retreated after surging last week on news that the largest utility in Finland will be using its Networked Energy Services system in its new advanced metering infrastructure.

Ford (NYSE: F) announced a new diesel engine for its F-Series Super Duty Truck.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 569.

Stocks open lower following a sell-off in Asian stocks overnight.  Acquisitions took the spotlight while investors took profits in the financial services sector. The Dow lost nearly 100 points to 9452 while Nasdaq fell 30 points to 1998.

On the upside 

Marvel Entertainment (NYSE: MVL) received a $4 billion cash and stock bid from the Walt Disney Company (NYSE: DIS).  The deal is likely to face an antitrust review.

BJ Services (NYSE: BJS) was the target of a $5.5 billion cash and stock offer from oil services company Baker Hughes (NYSE: BHI).

Delcath Systems (Nasdaq: DCTH) received FDA orphan drug status for its treatment of liver cancer.

An analyst upgraded real estate investment trust KKR Financial (NYSE: KKR).

On the downside

A number of publication questioned the long-term value of American International Group (NYSE: AIG) whose share price more than doubled this month.

Shares of China Mass Media (NYSE: CMM) fell after the company posted higher revenues and an operating loss due to higher market expenses.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 8 points to 571.

Disappointingly flat personal income along with a drop in consumer confidence sent the Dow down to a lower close with the blue chip index losing 36 points to 9544. Nasdaq added a point to 2028.

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.

A drop in consumer confidence weighed down the markets during the midday with the Dow falling 42 points to 9538. Nasdaq eased a point to 2025.

On the upside 

YRC Worldwide (Nasdaq: YRCW) expanded its window delivery capabilities with a suite of guaranteed window solutions.

Aruba Networks (Nasdaq: ARUN) narrowed fourth quarter losses as revenue rose to top estimates.

Although second quarter earnings for Tiffany & Co. (NYSE: TIF) dropped, the results beat expectations and the luxury retailer lifted its full year outlook.

On the downside

Raymond James analyst Michael Turits cited increasing pricing pressures and decreasing traffic growth for downgrading Limelight Networks (Nasdaq: LLNW).

Brian O'Connor Sterling Oak Partners said that Vonage Holdings (Nasdaq: VG) stock has surged recently due to speculation.

Cost Plus (Nasdaq: CPWM) disappointed with a wider than expected second quarter loss and warned of greater losses for the third quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 578.

The markets opened higher after Intel boosted its revenue outlook and Dell reported better than expected earnings.   The Dow gained 25 points to 9605 while Nasdaq surged 18 points to 2046.

On the upside 

Chip giant Intel (Nasdaq: INTC) raised its revenue targets for the current quarter.

Computer maker Dell (Nasdaq: DELL) posted lower earnings that beat expectations and issued optimistic statements about the 2nd half of the year.

Standard & Poor's Rating Services raised the debt rating for E-Trade Financial (Nasdaq: ETFC) citing a stable outlook.

Shares of American International Group (NYSE: AIG) continued to rise.  Analysts explained that a short squeeze may be the reason for the sustained rally.

On the downside

Biopharmaceutical company Immunomedics (Nasdaq: IMMU) posted a slim profit.  Investors took profits after recent gains following positive clinical trial results.

An analyst reiterated a hold rating for Novell (Nasdaq: NOVL) citing elusive sales growth.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose a point to 584.

The markets advanced to close modestly higher with the Dow gaining 37 points to 9580 as the nation's economy shrank at a slower than expected pace in the second quarter. Nasdaq added 3 points to 2027.

On the upside 

Seagate (Nasdaq: STX) chairman and chief executive Stephen J. Luczo purchased more than $1.2 million worth of company stock.

The Department of Energy awarded $34 million in stimulus grants to customers and government agency partners of Clean Energy Fuels (Nasdaq: CLNE).

The Teacher Retirement System of Texas selected Genworth Financial (NYSE: GNW) to provide long term care insurance to its membership.

On the downside

FX Energy (Nasdaq: FXEN) halted all drilling operations at its Ostrowiec-1 wildcat well and will plug and abandon the well.

Magma Design Automation (Nasdaq: LAVA) reported a loss for the first quarter.

Gravity (Nasdaq: GRVY) reported higher second quarter earnings and revenue but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 583.

The markets traded mixed during the midday with the Dow rising 19 points to 9563 while Nasdaq lost 9 points to 2015. The nation's economy shrank in the second quarter by an annualized rate of 1% while initial applications for unemployment benefits slipped.

On the upside 

Immunomedics (Nasdaq: IMMU) reported positive results from a Phase IIb clinical trial for its lupus treatment.

Former American International Group  (NYSE: AIG) chief executive Maurice Greenberg expressed a willingness to assist new chief executive Robert Benmosche.

Oshkosh (NYSE: OSK) landed a $280.9 million contract to supply the U. S. Army with 2,568 trucks and trailers.

On the downside

Clayton, Dubilier & Rice's $250 million investment in NCI Building Systems (NYSE: NCI) has been delayed.

A class action lawsuit was filed against CardioNet (Nasdaq: BEAT) on behalf of stock purchasers between April 30, 2009 and June 30, 2009.

Johnson & Johnson (NYSE: JNJ) ended its development of Alkermes' (NYSE: ALKS) month long version of its antipsychotic treatment risperidone.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 577.

The GDP fell 1% in the 2nd quarter which was better than expected.   Meanwhile, 1st time jobless claims fell for the latest week, but new job growth remained elusive.   The Dow lost 36 points to 9507 while Nasdaq fell a sharper 17 points to 2006.

On the upside 

Boeing (NYSE: BA) announced that its long awaited 787 aircraft will be ready by the end of this year.  The stock bucked the selling trend.

A Citigroup analyst initiated coverage of Williams Sonoma (NYSE: WSM) with a buy recommendation.

An analyst upgraded Guess (NYSE: GES) on hopes that the clothing retailer generate strong 3rd quarter results.

On the downside

Toll Brothers (NYSE: TOL) posted lower 3rd quarter revenues and lost $472 million as the luxury home market remained soft.  Tax charges and write-downs reversed a small quarterly profit.

An analyst downgraded Jackson Hewitt Tax Service (NYSE: JTX) whose appearance in Wal-mart (NYSE: WMT) generated mild returns.

Chip maker Sigma Designs (Nasdaq: SIGM) posted lower revenues and profits that met expectations.   However, the company's outlook led to an analyst downgrade.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks lost 7 points to 576.

Flat Close For Markets

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The markets closed flat with the Dow adding 4 points to 9543 even as new home sales surged and durable goods orders jumped. Nasdaq edged up a fraction to 2024. 

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.

The markets turned negative during the midday despite a greater than expected jump in new home sales with the Dow slipping 16 points to 9522 as investors remained concerned about consumer spending. Nasdaq lost 8 points to 2016. 

On the upside

Nymox Pharmaceutical (Nasdaq: NYMX) reported that its NX-1207 treatment for enlarged prostates reduced liver cancer tumors in rodents.

Myriad Genetics (Nasdaq: MYGN) reported sharply higher fourth quarter earnings prompting an upgrade.

Alcatel-Lucent (NYSE: ALU) will provide China Telecom with an IP backbone and maintain the network across ten provinces.

On the downside

While Dycom Industries (NYSE: DY) reported higher fourth quarter earnings, the telecommunications contractor swung to a loss for the year.

Thompson Creek (NYSE: TC) will sell 15.5 million common shares to a syndicate of underwriters to raise approximately C$217 million.

Although third quarter earnings for Canadian Imperial Bank of Commerce (NYSE: CM) rose, the results fell short of estimates as loan loss provisions soared.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 581.

Orders for durable goods rose sharply in July driven by higher commercial aircraft orders and automotive sales.   However, investors remained worried about consumer spending weighing down the major indexes. The Dow fell 37 points to 9502 while Nasdaq gave up 3 points to 2020. 

On the upside

Vonage (NYSE: VG) announced an unlimited international call that includes numerous countries.  Investors were counting on the move to stem the loss of subscribers.

An analyst upgraded jeweler Tiffany & Company (NYSE: TIF) ahead of its earnings report later this week.

Shares of Human Genome Sciences (Nasdaq: HGSI) soared on market rumors of a takeover bid by British drugmaker and partner GlaxoSmithKline (NYSE: GSK).

On the downside

Isle of Capri Casinos (Nasdaq: ISLE) announced lower quarterly revenues and narrow profit with the outlook hazy due to questionable consumer spending.

An analyst downgrade Netezza (NYSE: NZ), a maker of data storage equipment.

Bridgepoint Education (NYSE: BPI) filed to sell up to 11 million in new shares.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 582.

Investors embraced a report that consumer confidence rose more than expected. The markets closed modestly higher with the Dow gaining 30 points to 9539.  Nasdaq added 6 points to 2024. 

On the upside

Wildan Group (Nasdaq: WLDN) secured a $67 million contract to implement an energy efficiency program for Consolidated Edison.

Rumors swirled that GlaxoSmithKline (NYSE: GSK) may acquire Human Genome Sciences (Nasdaq: HGSI).

Shares of Matrixx Initiatives (Nasdaq: MTXX) surged ahead of its annual shareholders meeting tomorrow.

On the downside

Gol Linhas Aereas (NYSE: GOL) will issue common and preferred shares in order to raise approximately $345 million.

Despite higher revenue, fourth quarter earnings for Noah Education Holdings (NYSE: NED) fell.

Jefferies & Co. downgraded Evergreen Solar (NYSE: ESLR) last week and lowered its price target on the company. 

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 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 583.

Stronger than expected consumer confidence lifted the markets higher during the midday with the Dow climbing 85 points to 9594.  Nasdaq gained 16 points to 2034. 

On the upside

The Mongolian government cancelled its windfall profits tax on copper and gold clearing the way for Ivanhoe Mines (NYSE: IVN) to finalize its agreement to construct and operate its Oyu Tolgoi copper and gold complex.

Second quarter earnings for Chico's FAS (NYSE: CHS) rose as sales climbed and gross margin improved.

The Food and Drug Administration approved expanded labeling for CAS Medical's (Nasdaq: CASM) brain monitoring device to include infants under 2.5 kilograms in weight.

On the downside

UBS downgraded Denbury Resources (NYSE: DNR).

Accuray (Nasdaq: ARAY) disappointed with fourth quarter earnings that fell short of estimates and forecast first quarter results well below expectations.

China Security & Surveillance Technology (NYSE: CSR) will sell over 4 million common shares to raise $25.35 million. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 586.

In the 2nd quarter of the year, the Standard & Poor's/Case-Shiller's U.S. National Home Price Index posted its 1st quarterly increase in 3 years.  Investors grew optimistic about the economic recovery pushing the Dow up 39 points to 9548.  Nasdaq rose 9 points to 2027. 

On the upside

An analyst upgraded Warner Chilcott (Nasdaq: WCRX) which offered $3.1 billion to buy the prescription drug business from Procter & Gamble (NYSE: PG) yesterday.

The upbeat housing price report lifted the financial services sector.  Shares of Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE) and Bank of America (NYSE: BAC) rose in heavy trading.

Tuesday Morning (Nasdaq: TUES) posted lower revenues and a narrow loss.  The company is a closeout retailer of upscale houseware and gifts.

For-profit education company Corinthian Colleges (Nasdaq: COCO) reported higher revenues and a profit versus year-ago losses.  High unemployment was the primary driver for new enrollments. 

On the downside

Daktronics (Nasdaq: DAKT) posted earnings that beat expectations, but revenues fell and were expected to keep contracting.  The company makes electronic display systems.

Manitowoc (NYSE: MTW) was removed from the S&P 500.  The company makes cranes and food service equipment.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 582.

The markets closed flat with the Dow adding 3 points to 9509 as investors await economic data later this week. Nasdaq slipped 2 points to 2017.

On the upside

Conexant Systems (Nasdaq: CNXT) sold its Broadband Access product lines for $54 million to Ikanos Communications (Nasdaq: IKAN).

Shares of Osiris Therapeutics (Nasdaq: OSIR) rose ahead of the release of study results from a Phase III acute graft versus host disease drug trial.

Citigroup analyst Glen Yeung upgraded Advanced Micro Devices (Nasdaq: AMD) saying that the company has a favorable risk/reward profile.

On the downside

Private equity firm Ripplewood Holdings sold 26.6 million shares of RSC Holdings (NYSE: RRR).

Cell Therapeutics (Nasdaq: CTIC) submitted an application to the Food and Drug Administration for its cancer treatment pixantrone but the stock price fell.

Shares of Fifth Third Bancorp (NYSE: FITB) fell after analyst Richard Bove said investors should avoid regional banks.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 580.

Investors remained hopeful of a global economic recovery.  The markets traded modestly higher during the midday  with the Dow rising 35 points to 9541. Nasdaq inched up 2 points to 2023.

On the upside

Barron's expects Electro-Optical Sciences' (Nasdaq: MELA) stock price to surge 50% if the Food and Drug Administration approves the company's computer assisted, hand held device for detecting early forms of melanoma.

Benchmark upgraded Sinclair Broadcast (Nasdaq: SBGI) after the television station owner announced last week that it will repurchase debt securities.

Capstone Turbine (Nasdaq: CPST) received an order for three C800 microturbine systems to treat wastewater in Brazil.

On the downside

Valeant Pharmaceuticals International (NYSE: VRX) reported that its pain medication for shingles patients failed a mid-stage clinical study.

Citi Investment Research analyst John Tysseland downgraded Natural Resource Partners(Nasdaq: NRP) saying that the company may lower distribution.

Shares of Ford (NYSE: F) fell on the last day of the government's Cash for Clunkers program.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 584.

The major indexes rose to their highest levels of the year on investor optimism for a global economic recovery.  Meanwhile, oil prices edged toward the $74 a barrel level.  The Dow gained 40 points to 9546 while Nasdaq added 6 points to 2027.

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.

Upbeat existing home sales and comments by Federal Reserve Chairman Ben Bernanke that the economy will recover in the near future lifted the markets to a sharply higher close with the Dow surging 155 points to 9505. Nasdaq soared 31 points to 2020.

On the upside

Citi Investment Research analyst Jim Suva upgraded Jabil Circuit (NYSE: JBL) saying that revenue and margin will grow over the next two years.

ExpressJet Holdings (Nasdaq: XIDE) will increase it stock repurchase program by $10 million.

Las Vegas Sands (NYSE: LVS) submitted an application to be listed on the Hong Kong Stock Exchange.

On the downside

Shares of Anika Therapeutics (Nasdaq: ANIK) tumbled as investors locked in profits.  The stock price surged yesterday after Canadian regulators approved the company's injectable treatment for osteoarthritis of the knee.

Brocade Communications Systems (Nasdaq: BRCD) swung to a loss for the third quarter due to legal fees.

E-Trade (Nasdaq: ETFC) will exchange approximately $1.74 billion in senior notes for new convertible debt.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 12 points to 581.

Comments by Federal Reserve Chairman Ben Bernanke that the economy is poised to recover boosted the markets during the midday with the Dow soaring 137 points to 9487. Nasdaq jumped 25 points to 2014.

On the upside

Feltl & Co. upgraded Wireless Ronin Technologies (Nasdaq: RNIN).

Thomas Weisel upgraded Exide Tecnologies (Nasdaq: XIDE).

Although Zumiez (Nasdaq: ZUMZ) widened second quarter losses, the results were better than expected prompting an upgrade.

On the downside

Pacific Sunwear (Nasdaq: PSUN) forecast a wider than expected loss for the third quarter.

BankAtlantic Bancorp (NYSE: BBX) announced a subscription price of $2 per share for it offering of $100 million of common shares.

Global Ship Lease (NYSE: GSL) amended an $800 million credit facility and suspended its dividends.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 11 points to 580.

The markets surged in early morning trading with the Dow soaring 135 points to 9486 as existing home sales rose by the fastest pace in nearly two years. Nasdaq jumped 26 points to 2015.

On the upside

Sinclair Broadcast Group (Nasdaq: SBGI) reached a tentative agreement with debt holders to pay down $438 million in senior convertible notes.

Although Mentor Graphics (Nasdaq: MENT) widened second quarter losses, the results topped estimates and the electronics testing software maker forecast third quarter results ahead of expectations.

Second quarter earnings for Salesforce.com (NYSE: CRM) more than doubled as revenue climbed.

On the downside

Verigy (Nasdaq: VRGY) disappointed by swinging to a loss for the third quarter as revenue tumbled.

Second quarter earnings for Hibbett Sports (Nasdaq: HIBB) plunged to fall short of expectations.

Foot Locker (NYSE: FL) blamed lower revenue for reporting break even results for the second quarter that missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 11 points to 580.

Mortgage delinquencies surged to record highs in the second quarter but an uptick in factory activity in the mid-Atlantic region lifted the markets to a higher close with the Dow gaining 70 points to 9350. Nasdaq climbed 19 points to 1989.

On the upside

Five Reddy Ice (NYSE: FRZ) executives will purchase company stock.

Although Regis (NYSE: RGS) swung to a fourth quarter loss, the results topped estimates as the company cut expenses and improved margins.

Bon-Ton Stores (Nasdaq: BONT) widened second quarter losses but the retailer lifted its full year guidance.

On the downside

Fourth quarter revenue for Quixote (Nasdaq: QUIX) fell.

Hampton Roads Bankshares (Nasdaq: STSA) withdrew its proposed offering of up to 32.5 million common shares.

First quarter earnings for NetApp (Nasdaq: NTAP) rose even as revenue fell but the stock price dropped after the data storage company failed to provide guidance for the current quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 568.

The markets advanced during the midday with the Dow climbing 51 points to 9330 after the Conference Board reported an increase in its Leading Economic Index. Nasdaq gained 15 points to 1984.

On the upside

Gymboree (Nasdaq: GYMB) impressed with second quarter earnings that surged to top estimates due to higher sales and a lower than expected tax rate.

Freddie Mac (NYSE: FRE) said that mortgage rates fell to their lowest level in four months.

Taiyangshan Development Zone selected ReneSola (NYSE: SOL) to build a $706 million, 150 megawatt solar power plant.

On the downside

AVI BioPharma (Nasdaq: AVII) priced its offering of 21.1 million common shares and warrants to purchase up to 8.4 million shares at $1.42 per unit.

Sterling Financial (Nasdaq: STSA) announced that it will defer interest payments on junior subordinated notes and will also defer payments of regular quarterly dividends for its preferred stock.

Citi Trends (Nasdaq: CTRN) swung to a loss as sales dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 565.

Stocks open higher on the strength of Asian and financial services stocks.  Investors hoped for an improvement in the U.S. employment picture, but the latest government report showed weekly jobless claims rising again.  The Dow added 30 points to 9310 while Nasdaq climbed 13 points to 1982.

On the upside

Anika Therapeutics (Nasdaq: ANIK) received Health Canada approval for its knee drug treatment.

Dick's Sporting Goods (NYSE: DKS) posted higher revenues and slightly lower earnings that beat expectations while raising its full-year outlook.

Shares of American International Group (NYSE: AIG) rose after the beleaguered insurer created and filled a new CEO of Domestic Life and Retirement Services position.

On the downside

Sears Holdings (Nasdaq: SHLD) posted lower revenues and a loss that took investors by surprise.

Cerus Corporation (Nasdaq: CERS) priced a new shares and warrants offering.  The company develops blood safety products.

An analyst downgraded PetSmart (Nasdaq: PETM) due to weak sales and falling margins.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 565.

A drop in crude oil inventories boosted energy stocks to lift the markets to a higher close with the Dow gaining 61 points to 9279. Nasdaq climbed 13 points to 1969.

On the upside

The Food and Drug Administration approved EDAP TMS' (Nasdaq: EDAP) device that dissolves kidney stones with ultrasound and x-rays.

Kien Huat Realty will invest $55 million in Empire Resorts (Nasdaq: NYNY).

Speedus (Nasdaq: SPDE) promoted John Kallassy to the position of chief financial officer.

On the downside

Gentium's (Nasdaq: GENT) drug defibrotide for treating severe venoocclusive disease failed a late stage trial.

Robert W. Baird analyst David Loeb said that FelCor Lodging Trust (NYSE: FCH) should abandon properties that have negative equity mortgages.

Shares of WGNB (Nasdaq: WGNB) continued falling after the Federal Reserve ordered the parent company of First National Bank of Georgia to stop dividend payments and to craft a plan to meet capital requirements.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 561.

Markets Advance At Midday

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The markets advanced during the midday with the Dow climbing 86 points to 9304. Nasdaq rose 13 points to 1969.

On the upside

Swiss regulators approved Cerus' (Nasdaq: CERS) Intercept Blood System for deactivating viruses, bacteria and parasites in blood to be used for transfusions.

La-Z-Boy (NYSE: LZB) reversed year ago losses to post a profit for the first quarter due to a decrease in charges.

Candela (Nasdaq: CLZR) swung to a fourth quarter profit even as revenue fell.

On the downside

Longtop Financial Technologies (NYSE: LFT) reported higher first quarter earnings but the results fell short of estimates.

Yingli Green Energy (NYSE: YGE) blamed one time charges for swinging to a second quarter loss.

Third quarter earnings for Eaton Vance (NYSE: EV) fell as revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 560.

Stocks opened lower after Asian markets fell sharply in overnight trading.  The Dow lost 53 points to 9164 while Nasdaq fell 10 points to 1945.

On the upside

Mortgage loan provider Popular (Nasdaq: BPOP) announced a favorable swap of preferred shares for common stock at $2.50 apiece.

Shares of American Axle and Manufacturing (NYSE: AXL) continued to rally after an analyst upgraded the company which will receive a cash infusion through General Motors.

An analyst upgraded AnnTaylor Stores (NYSE: ANN).

On the downside

Hewlett-Packard (NYSE: HPQ) posted earnings that beat estimates and reaffirmed its outlook, but investors focused on weak sales and decided to take profits.

Deere (NYSE: DE) reported a sharp drop in quarterly revenues and profits due to slowing global demand for its farming and construction equipment.

Enersys (NYSE: ENS) announced the sale of 3.2 million new shares.   The company makes industrial batteries.

In the broad market, declining issues outpaced advancers 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 lost 3 points to 553.

Upbeat earnings lifted the markets to a higher close with the Dow rising 82 points to 9217. Nasdaq gained 25 points to 1955.

On the upside

A Delaware court ruled in favor of Par Pharmaceuctical (NYSE: PRX) in a patent case.

Wabash National (NYSE: WNC) announced that Mark J. Weber will replace Robert J. Smith as Senior Vice President and Chief Financial Officer effective August 31.  Smith accepted a position with privately held PPC.

KapStone Paper and Packaging (Nasdaq: KPPC) will raise approximately $85.2 million through the exercise of 17 million warrants.

On the downside

Solarfun Power Holdings (Nasdaq: SOLF) blamed falling sales for swinging to a loss for the second quarter.

Emcore (Nasdaq: EMKR) widened third quarter losses due to a significant impairment charge.

The Federal Reserve issued an order to First National Bank of Georgia parent WGNB (Nasdaq: WGNB) to halt dividend payments and to submit a plan detailing efforts of the company to meet capital guidelines.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 556.

Better than expected earnings from retailers lifted investor sentiment and boosted the markets during the midday with the Dow gaining 76 points to 9212. Nasdaq climbed 23 points to 1954.

On the upside

Although Agilent Technologies (NYSE: A) swung to a loss for the third quarter, the results topped estimates and the testing instrument maker forecast strong results for the fourth quarter.

Dawson James initiated coverage of Oculus Innovative Sciences (Nasdaq: OCLS) with a Buy rating after the company launched its Microcyn Skin and Wound Cleanser product.

Tower Group (Nasdaq: TSEM) is positioning its SiGe solution to replace GaAs components.

On the downside

Wedbush Morgan analyst Michael Pachter expects GameStop (NYSE: GME) to report lower than expected second quarter results and to lower its outlook for the year.

Delphi Financial (NYSE: DFG) will offer 3 million shares of common stock at $21 per share.

Simcere Pharmaceutical (NYSE: SCR) reported sharply lower second quarter earnings as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 557.

Wholesale prices fell in July which eased inflationary concerns, but construction of new homes also slipped last month.  The Dow rose 44 points to 9179 while Nasdaq rose 11 points to 1942.

On the upside

Home Depot (NYSE: HD) posted 2nd quarter profits that beat expectations.  Same-store sales fell, but cost-cutting boosted the results.

American Axle and Manufacturing (NYSE: AXL) received an extension of a waiver for its revolving credit facility allowing the company to receive $110 million from GM.

Shares of Huron Consulting Group (Nasdaq: HURN) rebounded after the business services provider reported healthy gains in revenues and earnings.

On the downside

CIT Group (NYSE: CIT) posted a sizable 2nd quarter loss of $1.68 billion. The beleaguered commercial lender continued to work on restructuring its debt in order to avoid bankruptcy.

Awaiting an FDA review, Geron (Nasdaq: GERN) delayed a trial of an embryonic stem cell treatment for spinal cord injury.

Discount retail operator TJX (NYSE: TJX) reported higher revenues and earnings as consumers sought bargains.   The results narrowly beat estimates.

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 rose 3 points to 551.

A sharp drop in the global markets sent the domestic markets plunging with the Dow plummeting 186 points to 9135. Nasdaq slumped 54 points to 1930.

On the upside

Shares of CryoLife (Nasdaq: CRY) continued to climb after the Food and Drug Administration approved the company's CryoPatch SG cardiac patch last week.

Oppenheimer upgraded Nanometrics (Nasdaq: NANO).

On the downside

Shares of Electronic Arts (Nasdaq: ERTS) fell after market research firm NPD Group reported that sales of video games dropped last month.

Apple's (Nasdaq: AAPL) iPhone 3GS was the top selling phone in Japan in July but the stock price dropped.

Charles Schwab (Nasdaq: SCHW) sued by New York Attorney General saying that the brokerage fim claimed deceived customers about the safety of auction rate securities.

Lowe's (NYSE: LOW) blamed the economy for modifying its expansion plans and forecast third quarter results that fell below estimates.

In the broad market, declining issues overwhelmed advancers by a margin of nearly 7 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 548.

Cautious Spending May Slow Recovery

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Concerns that the economic recovery will be stalled by the cautious spending habits of wary consumers sent the markets tumbling during the midday with the Dow plunging 157 points to 9159. Nasdaq plummeted 49 points to 1935.

On the upside

Oppenheimer analyst Bret Holley initiated coverage of Ariad Pharmaceuticals (Nasdaq: ARIA) with an Outperform rating.

CIT Group (NYSE: CIT) repurchased nearly 60% of debt to stave off bankruptcy.

On the downside

Sinoenergy (Nasdaq: SNEN) swung to a third quarter loss as revenue tumbled.

Repros Therapeutics (Nasdaq: RPRX) widened second quarter losses and warned that it may file for bankruptcy because it does not have enough cash for ongoing operations.

China Direct Industries (Nasdaq: CDII) swung to a loss for the second quarter.

Developers Diversified Realty (NYSE: DDR) commenced three tender offers last week for certain notes.

In the broad market, declining issues overwhelmed advancers by a margin of more than 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 549.

Stocks fell worldwide in overnight trading with the U.S. markets joining the sell-off.  Investors worried that consumers may not resume spending to help the economic recovery.  The Dow tumbled 150 points to 9165 while Nasdaq fell 40 points to 1944.

On the upside

Align Technology (Nasdaq: ALGN) settled a patent suit against Ormco, a subsidiary of Danaher Corporation (NYSE: DHR) and plan to collaborate on its orthodontic Invisalign product.

BioSante Pharmaceuticals (Nasdaq: BPAX) announced that its drug strengthened the efficacy of flu vaccines in animal tests.

On the downside

Lowe's (NYSE: LOW) posted revenues and earnings that fell and missed expectations due to slow consumer spending and inclement weather.

Shares of InterDigital (Nasdaq: IDCC) tumbled after the U.S. International Trade Commission ruled in Nokia's (NYSE: NOK) favor on a handset patent dispute.

Rosetta Stone (NYSE: RST) lowered its 3rd quarter profit guidance and cancelled a stock offering announced a week ago.  The stock made its debut in April 2009.

AEterna Zentaris (Nasdaq: AEZS) reported disappointing Phase 3 results for its prostate and urinary disease drug treatement.  The stock promptly sold off.

In the broad market, declining issues overwhelmed advancers by a margin of nearly 10 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 551.

Consumer sentiment dropped more than expected in August raising concerns that the economic recovery may be stalled by cautious consumers.  The markets closed lower with the Dow tumbling 76 points to close at 9321. Nasdaq dropped 23 points to 1985.

On the upside

Investor concerns that Rambus' (Nasdaq: RMBS) antitrust suit against Micron Technology (NYSE: MU) and Hynix Semiconductor would be delayed proved to be unfounded as a court date of September 28 appeared more certain.

The Federal Deposit Insurance Corp. approved BB&T's (NYSE: BBT) plan to purchaser Colonial Bancorp branches and deposits.

U-Store-It Trust (NYSE: YSI) priced its offering of 28 million common shares at $5.25 per share.

On the downside

Although Cardica (Nasdaq: CRDC) narrowed fourth quarter losses, revenue fell prompting a downgrade.

Shares of Temple-Inland (NYSE: TIN) fell after Moody's said that demand will continue to be weak for the packaging industry.

Satcon (Nasdaq: DAR) narrowed second quarter losses but the results fell short of estimates and revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 563.

A sharp drop in consumer sentiment sparked fears that the economic recovery would be stalled by wary consumers.  The Dow plunged 135 points to 9262 while Nasdaq tumbled 36 points to 1973.

On the upside

China GrenTech (Nasdaq: GRRF) reversed year ago losses to post a profit for the second quarter as revenue surged.

Private equity firm Clayton, Dubilier & Rice will invest $250 million in NCI Building Systems (NYSE: NCS).

Robert W. Baird analyst Whit Mayo upgraded Tenet Healthcare (NYSE: THC) saying that the company will surpass expectations.

On the downside

Credit Suisse downgraded Barnes & Noble (NYSE: BKS).

Moody's Investor Service cited Liz Claiborne's (NYSE: LIZ) disappointing second quarter results as well as its lowered guidance for downgrading the apparel company's credit rating.

Darling International (NYSE: DAR) reported that earnings for the second quarter plunged by more than half.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 560.

Investors mulled over the latest inflation report which was unchanged in July and factory output which rose more than expected.  The Dow lost 10 points to 9388 while Nasdaq slipped 2 points to 2004.

On the upside

Abercrombie & Fitch (NYSE: ANF) posted a 2nd quarter loss and a sharp decline in revenues.  However, analysts were impressed with its cost-cutting efforts.

Shares of Regions Financial (NYSE: RF) rose after hedge fund manager John Paulson reported a $35 million purchase of the stock.

Shares in Allied Irish Banks (NYSE: AIB) climbed after an unidentified Canadian bank offered to buy a stake in the company.

On the downside

JC Penney (NYSE: JCP) posted a small 2nd quarter loss that beat estimates as revenues and same-store sales fell versus year-ago levels.

Jinpan International (Nasdaq: JST) posted flat revenues and higher profits, but acknowledged demand challenges for its cast resin transformer business.

An analyst downgraded Genworth (NYSE: GNW) whose shares had rebounded more than ten-fold since hitting a record low price.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 574.

Modestly Higher Close For Markets

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The markets closed modestly higher with the Dow gaining 36 points to 9398 despite a surprising drop in retail sales as investors focused instead on the Federal Reserve's upbeat assessment of the economy yesterday. Nasdaq climbed 10 points to 2009.

On the upside

Las Vegas Sands (NYSE: LVS) amended its credit facility to allow the sale of a minority interest in its Macau resort.

CIT Group (NYSE: CIT) agreed to allow the Federal Reserve more oversight of the lender.

Orion Marine (NYSE: ORN) increased its stock offering from 3.5 million shares to 4.2 million shares.

 

On the downside

Aegon (NYSE: AEG) disappointed with a second quarter loss, suspended a dividend and announced the sale of stock in order to pay back the government for aid received.

Presstek (Nasdaq: PRST) swung to a loss for the second quarter and said that it is not in full compliance with terms of its credit agreements. 

KHD Humboldt Wedag International (NYSE: KHD) swung to a second quarter loss as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 575.

Mixed Markets Over Weak Retail Sales

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The markets traded mixed during the midday with the Dow losing 9 points to 9352 over weak retail sales and an unexpected jump in jobless claims. Nasdaq added a point to 1999.

On the upside

Tower Semiconductor (Nasdaq: TSEM)  and Intersel (Nasdaq: ISIL) entered a joint development deal for a next generation power management technology.

Aegean Marine Petroleum (NYSE: ANW) reported higher third second quarter earnings that beat expectations by a wide margin despite a drop in revenue.

J.P. Morgan analyst Andrew Wessel upgraded Assured Guaranty (NYSE: AGO) saying that the company's losses from morgages are manageable.

 

On the downside

Fortress International Group (Nasdaq: FIGI) disappointed with lower second quarter revenue and income.

While URS (NYSE: URS) reported sharply higher second quarter earnings that topped estimates, the company forecast full year results that fell short of expectations. 

Xinhua Sports & Entertainment (Nasdaq: XSEL) swung to a second quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 572.

The markets opened higher on better than expected results from Wal-Mart Stores.  However, investor enthusiasm was curbed by a higher jobless claims report and 0.1% drop in July retail sales mostly due to falling gasoline prices.  The Dow added 6 points to 9357 while Nasdaq edged up 3 points to 2002.

On the upside

Wal-Mart Stores (NYSE: WMT) posted flat 2nd quarter earnings that beat expectations and raised the low end of its profit outlook for the year.

Communications and information technology company Harris Corp. (NYSE: HRS) posted a sizable 4th quarter loss, but investors saw past the one-time charges and focused on higher revenues.

Shares of BioSante Pharmaceuticals (Nasdaq: BPAX) surged after the company reported positive late stage results for its testosterone gel for women.

Shares of Bank of America (NYSE: BAC) rose after John Paulson's hedge fund took a significant stake in the company.

On the downside

LDK Solar (NYSE: LDK) posted a 2nd quarter loss due to inventory charges.  An analyst promptly downgraded the stock to "sell".

Chinese online gaming operator Netease (Nasdaq: NTES) reported earnings that beat estimates, but warned that its margins may be squeezed by higher marketing and personnel costs. 

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 573.

The markets surged to close higher with the Dow soaring 120 points to 9361 after the Federal Reserve said that instead of shrinking, the economy is now leveling out. Nasdaq climbed 28 points to 1998.

On the upside

Citi Investment Research analyst Jim Suva upgraded Brightpoint (Nasdaq: CELL) and increased his price target for the company saying that cell phone sales should improve.

WuXi PharmaTech (NYSE: WX) reported sharply higher second quarter earnings as margins improved and expenses fell.

The Food and Drug Administration approved CryoLife's (NYSE: CRY) human heart patch. 

On the downside

Stifel Nicolaus analyst David Ross downgraded YRC Worldwide (Nasdaq: YRCW) saying that despite recent union concessions, the transportation services company is still likely to file for bankruptcy.

Vanguard Natural Resources (NYSE: VNR) priced its offering of 3.5 million common shares at $14.25 per share.

Gushan Environmental Energy (NYSE: GU) swung to a second quarter loss as revenue tumbled.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 572.

Federal Reserve Upbeat About Economy

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Upbeat comments about the economy by the Federal Reserve boosted investor sentiment to lift the markets higher during the midday with the Dow climbing 91 points to 9332. Nasdaq gained 25 points to 1994.

On the upside

ADC Telecommunications (Nasdaq: ADCT) lifted its third quarter earnings and revenue outlook and will lower costs by extending its restructuring plan.

Stanford University scientist Stephen Quake mapped his entire genome using a Helicos BioSciences (Nasdaq: HLCS) DNA sequencing machine.

While Toll Brothers (NYSE: TOL) warned of a sharp drop in third quarter revenue, the luxury homebuilder said that signed contracts rose and cancellations tumbled. 

On the downside

JA Solar Holdings (Nasdaq: JASO) blamed a sharp drop in revenue for widening second quarter losses.

Sara Lee (NYSE: SLE) disappointed with a fourth quarter loss as revenue fell.

The Securities and Exchange Commission is investigating Huron Consulting (NYSE: HURN) over circumstances related four companies Huron acquired between 2005 and 2007.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 574.

Investors awaited a decision by the Federal Reserve which is likely to keep interest rates at historic lows in order to encourage businesses to borrow.  The Dow rose 21 points to 9263 while Nasdaq added 4 points to 1974.

On the upside

Shares of Applied Materials (Nasdaq: AMAT) rose after the semiconductor equipment maker posted lower revenues and a small loss that beat expectations.

Macy's (NYSE: M) reported a small 2nd profit due to one-time restructuring costs and raised its full-year earnings guidance.

E-House China (NYSE: EJ), a China-based real estate holding company, posted higher revenues and earnings as the total value of new properties sold nearly tripled to $3 billion. 

On the downside

Clearwire (Nasdaq: CLWR) posted a smaller 2nd quarter loss as the wireless broadband provider added subscribers.

Freight business remained weak for Celadon Group (Nasdaq: CLDN) which reported a sharp drop in quarterly profits.

Shares of China-based Mindray Medical International (NYSE: MR) gave up recent gains after reporting a strong quarter.  The company manufactures a wide range of medical monitoring and analytical equipment.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose a fraction to 562.

The markets tumbled to a lower close with the Dow dropping 96 points to 9241 as wholesale inventories plunged. Nasdaq fell 22 points to 1969.

On the upside

Second quarter earnings for EchoStar (Nasdaq: SATS) more than doubled prompting an upgrade.

Mindray Medical International (NYSE: MR) reported higher second quarter earnings that topped estimates as revenue rose.

Rackspace Hosting (NYSE: RAX) reported second quarter earnings that rose as revenue climbed.

On the downside

RBC Capital Markets downgraded Petroleum Development (Nasdaq: PETD) after the company announced an offering of 3.8 million shares.

Second quarter earnings plunged for WSP Holdings (NYSE: WH) as crude oil prices tumbled.

American International Group (NYSE: AIG) sold its derivatives unit for more than $1.9 billion.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 9 points to 562.

A sharp, larger than expected 1.7% drop in wholesale inventories weighed down the markets during the midday with the Dow tumbling 107 points to 9230. Nasdaq dropped 27 points to 1964.

On the upside

Angiotech Pharmaceuticals' (Nasdaq: ANPI) Zilver PTX Stent received CE Mark approval and will be launched in Europe.

Second quarter earnings for Farmer Mac (NYSE: AGM) rose.

Thomas Weisel Partners upgraded Brigham Exploration (Nasdaq: BEXP) saying that the company's petroleum inventory may be much larger than expected.

On the downside

Captstone Turbine (Nasdaq: CPST) blamed higher expenses for widening first quarter losses to fall short of expectations.

Anthracite Capital (NYSE: AHR) swung to a loss for the second quarter and warned that it may not meet some principal paydown requirements.

PAREXEL International (Nasdaq: PRXL) disappointed with lower fourth quarter earnings as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks fell 11 points to 560.

The markets opened lower as investors mulled over mixed economic signals.  U.S. productivity rose at its fastest pace in six years, but all the gains were achieved with a smaller workforce. The Dow lost 72 points to 9265 while Nasdaq slid 15 points to 1976.

On the upside

Rackspace Hosting (NYSE: RAX) reported higher revenues and profits to beat estimates.  An analyst promptly upgraded the stock.

Shares of Avanir Pharmaceuticals (Nasdaq: AVNR) surged after the company reached late study goals for its drug to treat emotional outbursts.

RELM Wireless Corporation (NYSE: RWC) posted higher revenues and earnings followed by news of a product purchase by the Department of Defense.

On the downside

CIT Group (NYSE: CIT) delayed its quarterly filing as the lender launched a $1 billion note offering in order to avoid bankruptcy.

Force Protection (Nasdaq: FRPT) pre-announced lower revenues, but managed to avoid a loss.  Investors remained concerned about the pipeline for armored vehicle sales.

E.W. Scripps (NYSE: SSP) reported a sharp drop in revenues and a slim profit.  Investors took profits after the stock had more than doubled in price in the past week.

In the broad market, declining issues outpaced advancers 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 dropped 7 points to 564.

The markets closed modestly lower with the Dow losing 32 points to 9337 ahead of economic data to be released later this week. Nasdaq slipped 8 points to 1992.

On the upside

Chindex International (Nasdaq: CHDX) reversed year ago losses to post a profit for the first quarter.

Despite a drop in advertising revenue, E. W. Scripps (NYSE: SSP) impressed with an unexpected profit for the second quarter.

Genzyme (Nasdaq: GENZ) reopened its Boston facility but had to dispose of much of the material used to produce the enzyme disorder treatment Cerezyme.

On the downside

Raymond James analyst Samantha Panella downgraded Bebe Stores (Nasdaq: BEBE) saying that Bebe's pricier apparel does not appeal to consumer in the current economic slump.

Allied Capital (NYSE: ALD) narrowed second quarter losses but the results fell short of expectations.

TRW Automotive Holdings (NYSE: TRW) will offer 14 million common shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10  to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 571.

Rising Oil Prices Weigh Down Markets

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Rising crude oil prices weighed down the markets during the midday with the Dow falling 67 points to 9302. Nasdaq dropped 17 points to 1982.

On the upside

Duke Energy selected Echelon (Nasdaq: ELON) to provide networking services in a deal that could potentially be worth $150 million.

A German newspaper reported that SAP may be exploring the possibility of acquiring Tibco Software (Nasdaq: TIBX).

Priceline.com (Nasdaq: PCLN) reported higher second quarter earnings and revenue that topped estimates as leisure travel increased.

On the downside

Triad Guaranty (Nasdaq: TGIC) widened second quarter losses by a wide margin.

General Steel Holdings (Nasdaq: GSI) widened second quarter losses even as revenue rose.

The Sunday Times reported that Lloyds (NYSE: LYG) may issue shares as a means to avoid utilizing the British government's asset protection plan.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 568.

Stocks Open Lower on Profit-Taking

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Traders took profits from recent gains as economists pointed out that job growth remained elusive while consumers may spend cautiously.  The Dow lost 32 points to 9337 while Nasdaq fell 4 points to 1995.

On the upside

Mortgage finance company Freddie Mac (NYSE: FRE) announced a surprise profit in the 2nd quarter and a net loss after making dividend payments to the federal government.  The stock promptly surged.

Union workers at trucking company YRC Worldwide (Nasdaq: YRCW) agreed to a paycut and other concessions in exchange for options to own up to 20% of the business.

Dish Network (Nasdaq: DISH) posted lower profits, but revenues stayed level while the number of subscribers for its pay TV services rose.

On the downside

Microsoft (Nasdaq: MSFT) sold its digital advertising unit Razorfish to French advertising company Publicis Groupe SA for $530 million in cash and stock along with a preferred advertising relationship.

Vanda Pharmaceuticals (Nasdaq: VNDA) posted a 2nd quarter loss that was greater than expected.

TRW Automotive Holdings (NYSE: TRW) announced a public offering of 14 million shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 569.

An easing unemployment rate along with fewer than expected job losses in July boosted the markets to a sharply higher close with the Dow soaring 113 points to 9370. Nasdaq jumped 27 points to 2000.

On the upside

YRC Worldwide's (Nasdaq: YRCW) union agreed to cut wages by another 5% and will forego pension contributions for 18 months which will save the trucking company nearly $50 million each month.

Dana Holding (NYSE: DAN) narrowed second quarter losses even as revenue plunged by nearly 50%.

Second quarter earnings for Chiquita Brands (NYSE: CQB) rose to top estimates despite a modest drop in revenue.

On the downside

Energy Recovery (Nasdaq: ERII) swung to a loss for the second quarter prompting downgrades.

Shares of National Coal (Nasdaq: NCOC) fell ahead of its earnings release on Monday.

Valence Technology (Nasdaq: VLNC) widened first quarter losses as revenue plunged.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 14 points to 572.

An upbeat jobs report sent the markets soaring during the midday with the Dow leaping 123 points to 9379. Nasdaq surged 27 points to 2000.

On the upside

American International Group (NYSE: AIG) reversed year ago losses to report second quarter earnings that surpassed analyst expectations. It was the first quarterly profit for the insurer in nearly two years.

Beazer Homes (NYSE: BZH) narrowed losses for the third quarter.

Apollo Investment (Nasdaq: AINV) reported higher earnings for the first quarter prompting an upgrade.

On the downside

PMI Group (NYSE: PMI) disappointed by reporting a wider than expected loss for the second quarter.

China Digital TV (NYSE: STV) disappointed with lower second quarter earnings as revenue fell.

MoneyGram International (NYSE: MGI) widened second quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 16 points to 573.

The markets opened higher with the Dow surging 121 points to 9378 as the jobless rate slipped for the first time in 15 months. Nasdaq climbed 24 points to 1997.

On the upside

Crocs (Nasdaq: CROX) swung to a second quarter loss but the results were better than expected and the maker of colorful plastic shoes said that it will return to profitability next year.

Second quarter earnings for Hansen Natural (Nasdaq: HANS) rose as sales climbed.

While second quarter earnings plunged for CBS (NYSE: CBS) due to weak advertising, the results topped estimates and the company forecast upbeat third quarter sales.

On the downside

Leap Wireless International (Nasdaq: LEAP) widened second quarter losses even as revenue rose due to debt related expenses prompting downgrades.

Sequenom (Nasdaq: SQNM) blamed legal and research expenses for widening second quarter losses.

Ambac Financial (NYSE: ABK) swung to a loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 565.

The markets closed modestly lower with the Dow losing 24 points to 9256 as another drop in retail sales dampened optimism of an economic recovery. Nasdaq fell 19 points to 1973.

On the upside

Second quarter earnings for Ansys (Nasdaq: ANSS) slipped but the results topped analyst estimates.

Assured Guaranty (NYSE: AGO) declared a quarterly dividend of $0.045 per common share payable on September 10, 2009 to shareholders of record August 21, 2009.

Home Inns & Hotels Management (Nasdaq: HMIN) reported sharply higher second quarter revenue.

On the downside

MiddleBrook Pharmaceuticals (Nasdaq: MBRK) widened second quarter losses by a wide margin.

The Wall Street Journal reported that competitors of YRC Worldwide (Nasdaq: YRCW) are contacting YRC's clients to highlight YRC's financial problems and to undercut their prices.

Excel Maritime (NYSE: EXM) reported sharply lower second quarter earnings and announced the offering of 5 million common shares.

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 dropped 8 points to 557.

Cautious outlooks and falling retail sales weighed down the markets during the midday with the Dow falling 25 points to 9255. Nasdaq lost 16 points to 1977.

On the upside

Although July same store sales for Limited Brands (NYSE: LTD) fell, the drop was not as great as analysts were expecting.

Investors were pleasantly surprised by MBIA's (NYSE: MBI) second quarter profit.

SXC Health Solutions (Nasdaq: SXCI) reported second quarter earnings that jumped more than three times last year prompting the company to boost its full year guidance.

On the downside

While Brinker International (NYSE: EAT) reported fourth quarter earnings that were better than expected, the parent company of Chili's Grill & Bar forecast first quarter results well below analyst estimates.

The Buckle (NYSE: BKE) reported a much smaller than expected same store sales increase of 2.8%.

A legal settlement lifted Huntsman's (NYSE: HUN) second quarter income but adjusted earnings fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 561.

The economic malaise continued to pressure retail sales in July. The markets opened lower with the Dow losing 9 points to 9271. Nasdaq dropped 7 points to 1985.

On the upside

Global Industries (Nasdaq: GLBL) reported second quarter earnings that more than tripled.

Second quarter earnings for FUQI International (Nasdaq: FUQI) surged to surpass expectations by a wide margin as revenue soared more than 50%.

Canadian Solar (Nasdaq: CSIQ) reported an unexpected profit for the second quarter due to strong sales.

On the downside

Orthovita (Nasdaq: VITA) reported a loss for the second quarter.

Cantor Fitzgerald (Nasdaq: OCNF) downgraded OceanFreight after the marine transportation services company swung to a second quarter loss.

Second quarter earnings for MetroPCS (NYSE: PCS) tumbled to fall short of expectations as customer dropouts increased and customer additions slowed.

In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 562.

The markets closed lower over weakness in the services sector and higher than expected job losses. The Dow dropped 39 points to 9280 while Nasdaq fell 18 points to 1993.

On the upside

American Axle & Manufacturing (NYSE: AXL) narrowed second quarter losses and warned that it may still file for bankruptcy.

Shares of Triad Guaranty (Nasdaq: TGIC) rose ahead of its earnings release after market close on Friday.

CBL & Associates (NYSE: CBL) reported higher funds from operations for the second quarter.

On the downside

Idenix Pharmaceuticals (Nasdaq: IDIX) priced its offering of nearly 7.25 million common shares at $3.14 per share.

Ameristar Casinos (Nasdaq: ASCA) reported lower second quarter earnings that fell short of expectations.

Second quarter earnings plummeted for Baker Hughes (NYSE: BHI) as revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 565.

The Institute for Supply Management reported a weaker than expected reading of its services index to send the markets lower during the midday with the Dow falling 68 points to 9251. Nasdaq dropped 24 points to 1986.

On the upside

SciClone Pharmaceuticals (Nasdaq: SCLN) reversed year ago losses to post a second quarter profit as revenue surged.

CIT Group (NYSE: CIT) made the terms of its $1 billion tender offer more favorable.

American International Group (NYSE: AIG) named former MetLife chief executive Robert H. Benmosche to replace Edward Liddy as its chief executive beginning August 10.

On the downside

Although second quarter earnings rose to top estimates for BigBand Networks (Nasdaq: BBND), the company warned of possible losses for the third quarter due to slower order rates.

ValueClick (Nasdaq: VCLK) reported lower second quarter earnings as revenue dropped.

Charles River Laboratories (NYSE: DF) blamed decreasing sales for a sharp drop in second quarter earnings and lowered its full year outlook.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 562.

Job losses in July rose more than expected to weigh the markets down to a lower open with the Dow losing 27 points to 9292. Nasdaq eased a fraction to 2011.

On the upside

While second quarter results dropped for Garmin (Nasdaq: GRMN), the results beat expectations by a wide margin.

Whole Foods Market (Nasdaq: WFMI) reported a unexpected increase in third quarter earnings and lifted its full year outlook.

Radian Group (NYSE: RDN) reversed year ago losses to post a profit for the second quarter.

On the downside

American Capital (Nasdaq: ACAS) widened second quarter losses and remains in default of $2.3 billion.

American Axle & Manufacturing (NYSE: AXL) reported a wider than expected loss for the second quarter as revenue tumbled.

Dean Foods (NYSE: DF) reported higher second quarter earnings but revenue fell to miss expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 566.

The markets closed modestly higher with the Dow gaining 33 points to 9320 as pending home sales climbed for the fifth month in a row. Nasdaq added 2 points to 2011.

On the upside

MBIA (NYSE: MBI) announced that former senior vice president and partner of global investment advisor Wellington Management Theodore Shasta was elected to the bond insurer's board and will join the audit committee.

Shares of Xerium Technologies (NYSE: XRM) surged ahead of its earnings release after market close.

Brookdale Senior Living (Nasdaq: UAUA) reported record results for the second quarter.

On the downside

Second quarter earnings for Herbalife (Nasdaq: HLF) fell as revenue dropped.

FTI Consulting (NYSE: FCN) reported higher second quarter earnings but revenue fell short of estimates.

Swift Energy (NYSE: SFY) will offer 5 million shares to raise capital.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a margin of nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 570.

Consumer spending edged up more than expected in June to lift the markets modestly higher during the midday with the Dow rising 19 points to 9305. Nasdaq added 3 points to 2011.

On the upside

Cognizant (Nasdaq: CTSH) reported higher second quarter earnings and revenue that topped analyst estimates and raised its full year forecast.

Trailer Investments invested $35 million in Wabash National (NYSE: WNC).

United Airlines parent UAL (Nasdaq: UAUA) reported lower traffic in July but the drop was narrower than the previous month and occupancy rate rose from a year ago.

On the downside

Atmel (Nasdaq: ATML) blamed restructuring charges for more than doubling second quarter losses.

UBS (NYSE: UBS) widened second quarter losses due to charges and withdrawals.

Phoenix Cos. (NYSE: PNX) reported an unexpected loss for the second quarter as tax valuation allowances and severance charges climbed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 571.

Stock Rally Takes a Breather

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The markets opened lower as investors mulled over mixed economic news.  June consumer spending rose, but incomes fell sharply.  The Dow lost 18 points to 9267 while Nasdaq fell 9 points to 1999.

On the upside

PepsiCo (NYSE: PEP) announced plans to buy its two biggest bottlers, Pepsi Bottling Group and PepsiAmericas, for $7.8 billion in half stock and half cash.

Casino operator MGM Mirage (NYSE: MGM) posted a 2nd quarter loss, but was able to reduce long-term debt.

Caterpillar (NYSE: CAT) told analysts of its long-term profitability plans.

On the downside

Toyota Motors (NYSE: TM) posted a smaller than expected quarterly loss.  The Japanese auto maker also raised its guidance for the year which remained subject to volatile economic conditions.

Energy and utility holding company PPL Corp. (NYSE: PPL) reported a 2nd quarter loss, maintained its full-year outlook, but cut 2010 profit targets due to margin pressures.

Shares of Stec (Nasdaq: STEC) fell after the memory chip maker posted solid results and news that its CEO and COO were selling stock.

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 nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 562.

A slower than expected contraction of the nation's manufacturing activity sent the markets soaring to a sharply higher close with the Dow surging 114 points to 9286. Nasdaq leaped 30 points to 2008.

On the upside

Shares of Commercial Vehicle Group (Nasdaq: CVGI) surged ahead of its earnings release later this week.

Goldman Sachs analysts expect The Blackstone Group (NYSE: BX) to acquire another company.

Somaxon Pharmaceuticals (Nasdaq: SOMX) stock soared ahead of its earnings release later this week.

On the downside

Ducommun (NYSE: DCO) blamed increased interest expenses for lower than expected second quarter earnings. 

iStar Financial (NYSE: SFI) widened second quarter losses as loan loss provisions surged.

Intergra Bank (Nasdaq: IBNK) blamed sharply higher loan loss provisions for widening second quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks cllimbed 9 points to 565.

Investors cheered a report that the nation's manufacturing activity contracted at a slower than expected pace to lift the markets higher during the midday with the Dow climbing 98 points to 9269. Nasdaq rose 22 points to 2001.

On the upside

Antigenics (Nasdaq: AGEN) raised $10 million through the sale of 5 million shares in a private placement.

Oncothyreon (Nasdaq: ONTY) reported upbeat results from a long-term study of its lung cancer treatment Stimuvax.

Prospect Capital (Nasdaq: PSEC) will pay approximately $197 million in cash and stock to acquire Patriot Capital Funding (Nasdaq: PCAP).

On the downside

Repros Therapeutics (Nasdaq: RPRX) suspended clinical trials of its uterine fibroids treatment Proellex. 

VIVUS (Nasdaq: VVUS) will report second quarter results on Tuesday, August 11, 2009.

Hampton Roads Bankshares (Nasdaq: HMPR) swung to a loss for the second quarter, suspended its dividend and announced an offering of 32.5 million shares to raise capital.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 562.

The markets opened higher as investors turned cautiously optimistic about signals that automotive and banking industries may be on the mend.  The Dow rose 46 points to 9217 while Nasdaq added 11 points to 1990.

On the upside

Ford (NYSE: F) is expected to report its first year-over-year gain in monthly auto sales due in part to the popularity of the "cash for clunkers" program to get consumers to upgrade to fuel-efficient cars.

Google's (Nasdaq: GOOG) CEO Eric Schmidt resigned from the board of directors of Apple (Nasdaq: AAPL) in a tacit acknowledgment of increasing overlaps between the two company's product lines.

Shares of Keryx Biopharmaceuticals (Nasdaq: KERX) rose after the FDA allowed the company to move forward with late-stage study of its cancer drug candidate.

An analyst upgraded Deltek (Nasdaq: PROJ) whose shares recently rallied.   The company provides project management business software.

On the downside

Shares of Huron Consulting Group (Nasdaq: HURN) tumbled in a dramatic fashion after the company lowered its guidance, announced that it would restate results, and accepted the resignations of its CEO and CFO. 

Savient Pharmaceuticals (Nasdaq: SVNT) failed to win approval by the FDA for its drug treatment of chronic gout.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by a margin of nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 5 points to 562.

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