October 2009 Archives

Fears that falling consumer sentiment will hurt holiday sales and stall the economic recovery sent the markets down to a sharply lower close with the Dow plummeting 249 points to 9712. Nasdaq slumped 52 points to 2045.

On the upside

AXT (Nasdaq: AXTI) reversed year ago losses to post a profit for the third quarter.

Eastman Kodak (NYSE: EK) swung to a wider than expected loss for the third quarter but the company expects holiday shopping to improve.

Third quarter earnings for MicroStrategy (Nasdaq: MSTR) surged as revenue rose .

On the downside

GFI Group (Nasdaq: GFIG) blamed a drop in trading volume for third quarter earnings that fell short of expectations.

Seacoast Banking (Nasdaq: SBCF) widened third quarter losses by a wide margin.

The Securities and Exchange Commission initiated an investigation of Zale's (NYSE: ZLC) accounting practices.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 562.

A drop in consumer sentiment sent the markets tumbling during the midday with the Dow skidding 251 points to 9710. Nasdaq plunged 52 points to 2044.

On the upside

Fourth quarter earnings for Conexant Systems (Nasdaq: CNXT) leaped despite lower revenue as the company cut expenses and sold a business.

Bare Escentuals (Nasdaq: BARE) reported third quarter earnings that topped estimates.

First quarter earnings for Estee Lauder (NYSE: EL) more than doubled after the successful launch an anti-aging skin care line.

On the downside

Although Novatel (Nasdaq: NVTL) reported third quarter earnings that surpassed expectations by a wide margin, the company forecast disappointing fourth quarter results.

Tessera Technologies (Nasdaq: TSRA) reversed year ago losses but forecast fourth quarter revenue below expectations.

Although Mohawk Industries (NYSE: MHK) swung to a third quarter profit, the company warned of continued market weakness.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 17 points to 562.

Investors took profits from yesterday's rally as consumer spending in September plunged due to the end of government subsidies for automobile purchases.  The Dow lost 40 points to 9922 while Nasdaq shed 7 points to 2089.

On the upside

Las Vegas Sands (NYSE: LVS) received approval to list the company's Macau casino business on the Hong Kong stock exchange.   An initial public offering may raise as much as $2 billion.

Insurer Genworth (NYSE: GNW) reported a slim 3rd quarter profit which beat expectations.

Audio equipment maker Harman International Industries (NYSE: HAR) posted lower revenues and a smaller quarterly loss that beat expectations.

On the downside

CIT (NYSE: CIT) was tallying votes following a midnight Thursday deadline as the commercial lender worked toward a likely pre-packaged bankruptcy filing.

Alcatel-Lucent SA (NYSE: ALU) posted a quarterly loss and announced a shrinking outlook for telecommunications equipment demand.

Barnes Group (NYSE: B) reported lower profits amid weakness in demand for aerospace and industrial components.

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 lost 8 points to 572.

A surprising expansion of the nation's economy for the first time in over a year fueled a buying frenzy to lift the markets to a sharply higher close with the Dow rocketing 199 points to 9962. Nasdaq surged 37 points to 2097. 

On the upside 

Third quarter earnings and revenue surged for AsiaInfo Holdings (Nasdaq: ASIA).

Revlon (NYSE: REV) surprised analysts by swinging to a profit on a continuing operations basis.

Carbo Ceramics (NYSE: CRR) reported third quarter earnings that surpassed analyst estimates by a wide margin.

On the downside

Central Pacific Financial (NYSE: CPF) reported a record quarterly loss due to charges.

CIT (NYSE: CIT) rejected billionaire investor Carl Icahn's loan offer to secure a new $4.5 billion credit facility.

K-SEA (NYSE: KSP) warned that it may fall out of compliance with some financial covenants and cut its quarterly dividend prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 13 points to 580.

Expanding Economy Boosts Markets

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Investors welcomed news that the nation's economy grew by a larger than expected 3.5% in the third quarter after registering declines in the past four quarters. The Dow leapt 154 points to 9917 while Nasdaq jumped 32 points to 2092. 

On the upside

American Superconductor (Nasdaq: AMSC) reversed year ago losses to post a better than expected profit for the second quarter and lifted its guidance for the full year.

Third quarter earnings and revenue for Akamai Technologies (Nasdaq: AKAM) topped estimates and the company forecast fourth quarter income above expectations.

Bank of America-Merrill Lynch upgraded Genworth Financial (NYSE: GNW).

On the downside

The Food and Drug Administration denied approval of Transcept Pharmaceuticals' (Nasdaq: TSPT) sleep disorder treatment Intermezzo and requested more data due to safety concerns.

Cytokinetics (NYSE: CYTK) warned that the timeline to develop its heart failure drug omecamtiv mecarbil may take up to a year more than originally expected.

Third quarter earnings for Harmonic (NYSE: HLIT) plummeted to fall short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 579.

The Dow rose 74 points to 9837 while Nasdaq surged 24 points to 2084 after the Commerce Department reported a 3.5% rate of growth for the U.S. economy to signal an end to the recession. 

On the upside

Proctor & Gamble (NYSE: PG) posted lower sales and a slight dip in profits under the watch of new CEO Bob McDonald.  The revenue results were hurt by a stronger dollar.

Kellogg (NYSE: K) posted flat revenues and higher profits as consumers bought more cereal and other home-cooked products amid the recession.

Motorola (NYSE: MOT) announced an unexpected quarterly profit while raising its outlook for the current quarter.  Investors were also optimistic about prospects for the new Droid and Cliq smartphones.

On the downside

Exxon Mobil (NYSE: XOM) posted lower revenues and profits as the oil and gas company increased refinery operations to compensate for lower oil prices.

First Solar (Nasdaq: FSLR) announced higher revenues and profits, but the results missed expectations.  Analysts promptly downgraded shares of the nation's largest solar panel maker.

Monster Worldwide (NYSE: MWW), which operates job search site Monster.com, reported lower revenues and earnings as the job market remained challenging.

In the broad market, declining issues outpaced advancers by a margin of 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 575.

Economic recovery concerns sparked by a suprising drop in new home sales sent the markets down to a lower close with the Dow plunging 119 points to 9762. Nasdaq sank 56 points to 2059.

On the upside

Unisys (Nasdaq: UIS) reversed year ago losses to post a profit for the third quarter.

Anika Therapeutics (Nasdaq: ANIK) reported higher third quarter earnings and revenue.

Third quarter earnings rose for Insituform Technologies (Nasdaq: INSU) as revenue surged.

On the downside

StemCells (Nasdaq: STEM) will sell approximately 10 million shares of common stock to raise approximately $12.5 million.

Garmin (Nasdaq: GRMN) stock tumbled after a competitor warned that product prices are falling and Google (Nasdaq: GOOG) entered the navigation market.

Third quarter earnings for ViroPharma (Nasdaq: VPHM) fell despite higher revenue.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 566.

New Home Sales Drop, Markets Down

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An unexpected drop in new home sales weighed down the markets during the midday with the Dow falling 43 points to 9838. Nasdaq tumbled 36 points to 2080.

On the upside

Panera Bread (Nasdaq: PNRA) reported higher third quarter earnings that topped analyst estimates.

Quantum (NYSE: QTM) reversed year ago losses to post a profit for the second quarter even as revenue slipped.

First quarter earnings for Harris (NYSE: HRS) surpassed analyst expectations.

On the downside

Although third quarter earnings for Psychiatric Solutions (Nasdaq: PSYS) rose, the results fell short of expectations.

Illumina (Nasdaq: ILMN) reversed year ago losses to post a profit but the results fell short of estimates and the genetic analysis instrument maker forecast disappointing fourth quarter income.

The Securities and Exchange Commission initiated an informal probe of Apollo Group's (NYSE: APOL) accounting practices.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 572.

Lack of consumer confidence may weigh down on consumer spending this holiday season.  Meanwhile, durable goods orders rose 1% in September to meet economists' expectations.   The Dow lost 25 points to 9857 while Nasdaq fell 15 points to 2100.

On the upside

Motorola (NYSE: MOT) partnered with Verizon Wireless, a unit of Verizon Communications (NYSE: VZ) to launch the Droid smartphone on November 6.

Peet's Coffee & Tea (Nasdaq: PEET) posted higher revenues and profits while raising its guidance for the 4th quarter.

Shares of NutriSystem (Nasdaq: NTRI) rose after the weight loss program company delivered on quarterly results and announced a dividend.

On the downside

The nation's 3rd largest oil company ConocoPhilips (NYSE:COP) posted lower revenues and profits while cutting back on natural gas production.

Shares of K-Sea Transportation Partners (NYSE: KSP) tumbled after the company disclosed that it may fall out of compliance with debt and lease agreements.

ValueClick (Nasdaq: VCLK) reported lower revenues and higher profits, but the online advertising company also offered a weak outlook.

In the broad market, declining issues outpaced advancers by a margin of 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 580.

Markets Mixed As Confidence Tumbles

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The markets closed mixed with the Dow gaining 14 points to 9882 despite an unexpected drop in consumer confidence as home prices rose sequentially. Nasdaq dropped 25 points to 2116.

On the upside

Third quarter earnings for Crane (NYSE: CR) surpassed analyst estimates by a wide margin.

Celanese (NYSE: CE) reported third quarter earnings that doubled due to a one-time tax benefit.

While third quarter earnings for Textron (NYSE: TXT) plunged, the results topped estimates.

On the downside

Boyd Gaming (NYSE: BYD) reported a drop in third quarter earnings due to the economic slump.

Shares of PMI Group (NYSE: PMI) fell after Standard & Poor's said that it may downgrade the mortgage insurer.

Owens & Minor (NYSE: OMI) disappointed with third quarter results that fell short of estimates.

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 dropped 6 points to 586.

Consumer Confidence Drops

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A surprising drop in consumer confidence tempered a report that housing prices rose month over month. The Dow rose 31 points to 9899 while Nasdaq tumbled 23 points to 2117.

On the upside

China Technology Development Group (Nasdaq: CTDC) will acquire a majority interest in solar power plant developer CTSPHL Group.

Although Insulet (Nasdaq: PODD) widened third quarter losses due to an interest charge, the company lifted its outlook for the year.

Patriot Coal (NYSE: PCX) reported higher third quarter revenue and said that demand surged sequentially from the second quarter to the third quarter.

On the downside

Three analysts cited PrivateBancorp's (Nasdaq: PVTB) loss for the third quarter for lowering their price target for the company.

Third quarter earnings surged for Baidu (Nasdaq: BIDU), but the Chinese search engine warned that revenue may drop due to its transition to a new online advertising system.

Carter (NYSE: CRI) delayed the release of its third quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 590.

Home prices rose in 20 major markets for the 3rd consecutive month in another sign of a possible economic recovery.  The Dow gained 43 points to 9911 while Nasdaq added 2 points to 2144.

On the upside

BP Plc (NYSE: BP) posted lower 3rd quarter profits as gas prices fell.  Nonetheless, the results beat expectations.

Share of medical device maker ev3 (Nasdaq: EVVV) posted profits that topped estimates and raised its full-year outlook.

Cabot Oil & Gas (NYSE: COG) posted a drop in 3rd quarter profits.  Analysts upgraded the stock.

On the downside

United States Steel  (NYSE: X) posted sharply lower revenues and another quarterly loss while issuing a cautious outlook.

Investors worried that Las Vegas Sands (NYSE: LVS) may not be able to raise money to complete two suspended casino projects in Macau.

Scientific Games (Nasdaq: SGMS) posted lower revenues and modest profits.  Investors remained worried about the outlook for the gaming industry.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 596.

Rising Dollar May Stall Recovery

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The markets closed lower with the Dow plunging 104 points to 9867 over concerns that the rising dollar may stall the economic recovery. Nasdaq fell 12 points to 2141.

On the upside

AECOM Technology (NYSE: ACM) acquired Ellerbe Becket for an undisclosed amount.

Unisys (NYSE: UIS) began trading today after a 1-for-10 reverse stock split took effect late last Friday.

Rockwood Holdings (NYSE: ROC) reversed year ago losses to post a profit for the third quarter that topped estimates.

On the downside

Third quarter earnings for Sohu.com (Nasdaq: SOHU) fell even as sales rose.

Wunderlich downgraded Synovus (NYSE: SNV).

Although General Cable (NYSE: BGC) reported third quarter earnings that beat expectations, the company forecast disappointing fourth quarter results.

In the broad market, declining issues outpaced advancers 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 dropped 7 points to 593.

The strengthening dollar weighed down the markets during the midday with the Dow dropping 79 points to 9892. Nasdaq lost 8 points to 2146.

On the upside

Allied Capital (NYSE: ALD) will be acquired by Ares Capital in an all stock deal valued at approximately $648 million.

ION Geophysical (NYSE: IO) announced a joint venture with BGP to provide seismic data for petroleum prospects based on land.

RadioShack (NYSE: RSH) reported third quarter revenue that topped analyst estimates.

On the downside

FiberTower (Nasdaq: FTWR) announced an exchange offer for its outstanding convertible senior notes.

Private Bancorp (Nasdaq: PVTB) widened third quarter losses as loan loss provisions surged nearly threefold.

Symmetry Medical (NYSE: SMA) blamed disappointing demand for lowering its 2009 guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 595.

The markets opened higher after Asian nations offered fresh evidence of an economic recovery.  The Dow climbed 68 points to 10,040 while Nasdaq surged 22 points to 2176.

On the upside

DVD rental company Netflix (Nasdaq: NFLX) announced plans to work with Sony to stream video content through Sony's PlayStation game consoles.

BioCryst Pharmaceuticals (Nasdaq: BCRX) received FDA approval for its experimental drug to be used as emergency treatment for swine flu.

Shares of Amazon.com (Nasdaq: AMZN) rallied to a new all-time high on continued optimism for the upcoming holiday shopping season.

On the downside

Verizon Communications (NYSE: VZ) posted higher revenues and lower profits due to increased costs.

Telecommunications services provider FairPoint Communications (NYSE: FRP) filed for bankruptcy unable to service its debt load and to increase revenues.

An analyst downgraded KBR (NYSE: KBR) due to loss of engineering projects resulting from the U.S. military's exit from Iraq.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 609.

Rising gasoline prices along with cautious outlooks sent the markets tumbling to a lower close with the Dow dropping 109 points to 9972. Nasdaq fell 10 points to 2154.

On the upside

Grubb & Ellis (NYSE: GBE) entered a $90 million preferred equity transaction agreement.

Leggett & Platt (NYSE: LEG) reported higher third quarter earnings even as revenue dropped and lifted its full year outlook.

While Align Technology (Nasdaq: CPWR) reported a third quarter loss due to a patent lawsuit costs, the results beat expectations.

On the downside

Columbia Laboratories (Nasdaq: CBRX) will raise approximately $11.8 million through the sale of common stock and warrants.

Dynavax Technologies (Nasdaq: DVAX) widened third quarter losses as revenue plunged.

Third quarter earnings plunged for Interactive Brokers Group (Nasdaq: IBKR) to fall short of expectations as revenue plummeted by nearly half.

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 12 points to 604

Cautious Outlooks Weigh On Investors

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Despite a surge in home sales, the markets dropped during the midday with the Dow tumbling 70 points to 10,011 as cautious outlooks continue to weigh on investors. Nasdaq eased a point to 2163.

On the upside

Bucyrus International (Nasdaq: BUCY) reported sharply higher third quarter earnings that beat expectations by a wide margin.

Third quarter earnings for Capital One Financial (NYSE: COF) rose to surpass analyst estimates.

Compuware (Nasdaq: CPWR) reported higher second quarter earnings that topped estimates despite a drop in revenue.

On the downside

Third quarter earnings for Sunpower (Nasdaq: SPWRA) plunged prompting the solar power products maker to trim its full year guidance.

European regulators will review the multiple sclerosis drug Tysabri made by Elan (NYSE: ELN)  and Biogen (Nasdaq: BIIB) after 23 reported cases of the brain infection progressive multifocal leukoencephalopathy.

MEMC Electronic Materials (NYSE: WFR) blamed plunging sales for swinging to a third quarter loss.

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 dropped 8 points to 604.

Blue chips languished while tech stocks rose on the heels of better-than-expected earnings reports from Amazon.com and Microsoft.  The Dow lost 9 points to 10,071 while Nasdaq added 8 points to 2174.

On the upside

Microsoft (Nasdaq: MSFT) posted lower revenues and profits, but the results beat expectations.   Investors were also looking forward to potential sales from its Windows 7 operating system launched yesterday.

Amazon.com (Nasdaq: AMZN) announced sharply higher profits and offered an upbeat forecast for the upcoming holiday shopping season.

Whirlpool (NYSE: WHR) posted lower sales and earnings, but the world's largest home appliance maker offered an improved outlook for the 4th quarter.

On the downside

Software maker CA (NYSE: CA) reported higher 2nd quarter profits, but lowered its full-year revenue targets.

Synovus Financial (NYSE: SNV) posted a sizable loss and did not expect to return to profitability until late 2010.

Avid Technology (Nasdaq: AVID) announced a surprise 3rd quarter profit due to cost-cutting, but the digital video software company also began investigating a possible revenue recognition error.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost a point to 611.

The markets turned positive in afternoon trading with the Dow soaring 131 points to close at 10,081 over upbeat earnings news. Nasdaq climbed 14 points to 2165.

On the upside

East West Bancorp (Nasdaq: EWBC) blamed hefty loan loss provisions for reporting a loss for the third quarter.

Skechers (NYSE: SKX) reported lower third quarter earnings but the results topped analyst estimates.

Despite rising loan losses, PNC Financial (NYSE: PNC) reported sharply higher third quarter earnings.

On the downside

Life Time Fitness (NYSE: LTM) reported lower third quarter earnings and warned that new membership growth would continue to be challenging.

Nucor (NYSE: NUE) swung to a loss for the third quarter as material costs rose and demand weakend.

ITT Educational Services (NYSE: ESI) reported higher third quarter earnings but also said that bad debt expenses increased.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 613.

Mixed Markets At Midday

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The markets traded mixed during the midday with the Dow climbing 75 points to 10,024 after the Conference Board reported that its index of leading economic indicators rose more than expected. Nasdaq slipped 3 points to 2146.

On the upside

Switch & Data Facilities (Nasdaq: SDXC) will be acquired by Equinix (Nasdaq: EQIX) in a cash and stock deal valued at approximately $698 million.

F5 Networks (Nasdaq: FFIV) impressed with higher fourth quarter earnings that topped estimates prompting upgrades.

Korea National Oil Corp. will pay approximately $3.9 million for Harvest Energy Trust (NYSE: HTE). Analysts promptly upgraded Harvest Energy.

On the downside

Westell Technologies (Nasdaq: WSTL) reversed year ago losses to post a profit for the second quarter but the company warned of softness for the rest of the year.

Affymetrix (Nasdaq: AFFX) narrowed losses for the third quarter but the results fell short of estimates.

NCR (NYSE: NCR) disappointed with lower than expected third quarter earnings, cut its guidance for the year and announced job cuts.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 604.

Blue chips drifted lower as tech stocks retreated after eBay offered a disappointing holiday outlook.  The Dow slipped 3 points to 9946 while Nasdaq fell 12 points to 2136.

On the upside

AT&T (NYSE: T) posted lower revenues and profits, but added a record 3.2 million iPhones subscribers.  The popular handheld devices are made by Apple (Nasdaq: AAPL).

The New York Times Company (NYSE: NYT) reported another slide in revenues and a loss due to one-time charges, but analysts noted a profit on a cashflow basis.

Clothing retailer J. Crew Group (NYSE: JCG) raised its profit outlook due to improved margins and higher same-store sales. 

On the downside

Online retailer eBay (Nasdaq: EBAY) posted solid 3rd quarter revenue growth and lower earnings.  The stock sold off on the company's 4th quarter guidance.

Caterpillar (NYSE: CAT) promoted Douglas Oberhelman to become its next CEO.

Shares of TriQuint Semiconductor (Nasdaq: TQNT) fell after the chip maker posted lower 3rd quarter revenues and profits and downgraded its 4th quarter targets.

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 dropped 8 points to 605.

The markets turned negative in late afternoon trading to close lower with the Dow tumbling 92 points to 9949 after an analyst recommended selling Wells Fargo stock. Nasdaq fell 12 points to 2150.

On the upside

First quarter earnings and revenue for Cree (Nasdaq: CREE) rose to beat expectations prompting the LED lighting maker to provide solid second quarter guidance above estimates.

Sallie Mae (NYSE: SLM) reversed year ago losses to post a better than expected profit for the third quarter. 

Fannie Mae (NYSE: FNM) sold $3 billion worth of benchmark bills at higher interest rates than last week.

On the downside

While Polycom (Nasdaq: PLCM) reported third quarter results that met expectations, the company forecast disappointing fourth quarter margins.

United Airlines (Nasdaq: UAUA) reported a loss for the third quarter as revenue tumbled.

Marshall & Ilsley (NYSE: MI) swung to a loss for the third quarter as loan loss provisions soared.

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 dropped 8 points to 605.

Earnings News Lifts Markets

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Investors embraced upbeat earnings to lift the markets higher during the midday with the Dow gaining 38 points to 10,080. Nasdaq climbed 13 points to 2177.

On the upside

VeriChip (Nasdaq: CHIP) and the Diabetes Research Institute entered a strategic partnership to develop a glucose-sensing radio frequency indentification microchip.

Third quarter earnings for Gentex (Nasdaq: GNTX) rose to top estimates and the auto parts maker forecast higher fourth quarter revenue. 

While third quarter earnings slipped for Stryker (NYSE: SYK) due to lower shipments of its products, the results met expectations.

On the downside

European regulators will issue a negative opinion of Antigenics' (Nasdaq: AGEN) cancer vaccine Oncophage.

The South Financial Group (Nasdaq: TSFG) warned of significant losses for the third quarter as loan loss provisions soared.

American Airlines (NYSE: AMR) swung to a loss for the third quarter as revenue plunged.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 618.

Investors added to their positions on the heels of corporate earnings reports.  Oil prices settled near the $78 a barrel mark as inventories rose.   The Dow rose 20 points to 10,061 while Nasdaq surged 12 points to 2175.

On the upside

Wells Fargo (NYSE: WFC) posted higher 3rd quarter profits which offset rising loan losses.

Continental Airlines (NYSE: CAL) trimmed its losses in the 3rd quarter even as revenues fell sharply due to reduced business travel.  Expenses were contained by lower oil prices. 

Shares of Yahoo (Nasdaq: YHOO) surged higher after the Internet portal and search engine company posted higher earnings on lower revenues.

On the downside

Boeing (NYSE: BA) posted a $1.6 billion loss due to delays in shipping its 787 and updated 747 passenger airplanes.

Drugmaker Eli Lilly & Co. (NYSE: LLY) posted higher earnings and raises its profit outlook for the 2nd time this year.  However, investors worried about slowing sales.

Knight Capital (Nasdaq: NITE) posted higher revenues a 3rd quarter profit that missed estimates.  Transactions costs trimmed margins for the electronic trading services provider.

In the broad market, advancing issues outpaced decliners 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 added 4 points to 617.

Despite better than expected earnings news, the markets closed lower with the Dow losing 50 points to 10,041 after a disappointing drop in home building permits report. Nasdaq fell 12 points to 2163.

On the upside 

While The Bank of New York Mellon (NYSE: BK) swung to a significant loss for the third quarter, the results were better than expected.

At the Value Investing Congress, Pershing Square's Bill Ackman said that Corrections Corp. (NYSE: CXW) is a top real estate business.

Third quarter earnings for Illinois Tool Works (NYSE: ITW) plunged but the results topped estimates and the industrial equipment maker forecast a profit for the fourth quarter.

On the downside

Yongye International (Nasdaq: YONG) completed its restructuring plan.

Pixelworks (Nasdaq: PXLW) swung to a third quarter loss as revenue dropped.

Ultralife (Nasdaq: ULBI) announced that it received an order valued at approximately $20 million for its SATCOM-On-The-Move system.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 613.

Drop In Permits Weighs Down Markets

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A sharp drop in home building permits fueled fears of continued weakness in the economy to send the markets lower during the midday with the Dow tumbling 84 points to 10,008. Nasdaq dropped 19 points to 2156.

On the upside 

The U. S. Federal Communications Commission approved Telestone Technologies' (Nasdaq: TSTC) Wireless Fiber Distribution System.

While third quarter earnings fell for Werner Enterprises (Nasdaq: WERN), the results surpassed analyst estimates.

Regions Financial (NYSE: RF) swung to a loss for the third quarter but the regional bank reported a 29% increase in new accounts opened in the quarter.

On the downside

Conn's (Nasdaq: CONN) warned of possible losses for the third quarter and withdrew its guidance.

Third quarter earnings for Volterra Semiconductor (Nasdaq: VLTR) fell short of expectations.

Great Atlantic & Pacific Tea (NYSE: GAP) widened second quarter losses and announced the immediate resignation of chief executive Eric Claus.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 612.

Stocks open lower as investors mulled over a drop in September wholesale prices and an increase in housing construction.  The Dow fell 21 points to 10,071 while Nasdaq slipped 2 points to 2174.

On the upside 

Caterpillar (NYSE: CAT) posted a decline in 3rd quarter profits, but offered an encouraging outlook for 2010.

Temporary staffing agency MPS Group (NYSE: MPS) received a $1.3 billion buy-out offer from Switzerland-based Adecco SA.

Lexmark International (NYSE: LXK) posted lower revenues and a modest profit.  The printer and copier maker also announced job cuts to trim costs.

On the downside

Boston Scientific (NYSE: BSX) returned to profitability in the 3rd quarter, but the medical device maker lowered its overall earnings and revenue outlook.

Shares of Coca-Cola (NYSE: KO) slipped as 3rd quarter revenues fell due to the weak dollar while profits rose.

Shares of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) continued to fall after an analyst set a price target of zero for the two stocks.

In the broad market, declining issues outpaced advancers 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 lost 3 points to 618.

The markets rose to close higher with the Dow climbing 96 points to 10,092 over better than expected earnings news. Nasdaq rose 19 points to 2176.

On the upside

Shiner International (Nasdaq: BEST) will supply China's largest meat product manufacturer Shineway Group with safe packaging.

Shares of Joe's Jeans (NYSE: JOEZ) continued climbing after reporting third quarter earnings last week that topped estimates.

While third quarter earnings and revenue slipped for Texas Instruments (NYSE: TXN), the results were better than expected.

On the downside

Royale Energy (Nasdaq: ROYL) announced a private placement of approximately $2 million worth of common shares and warrants.

Hansen Medical (Nasdaq: HNSN) must restate financial results as far back as the first quarter of 2008 due to errors related to sales its Sensei Robotic Catheter system.

Weatherford International (NYSE: WFT) reported sharply lower third quarter earnings that 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 more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 622.

Upbeat Earnings Lifts Markets

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Upbeat earnings news lifted the markets higher during the midday with the Dow soaring 103 points to 10,099 while Nasdaq gained 17 points to 2174.

On the upside

Energy XXI Gulf Coast (Nasdaq: EXXI) extended the expiration date of its exchange offer.

Shares of Motorola (NYSE: MOT) rose ahead of the launch of its new Droid phone next month.

Sterne Agee upgraded Manitowoc (NYSE: MTW) to a Buy rating.

On the downside

The U. S. International Trade Commission ruled that Nokia did not infringe on InterDigital's (Nasdaq: IDCC) patents prompting a downgrade.

GMX Resources (Nasdaq: GMXR) will offer 5.75 million shares and $70 million in senior convertible notes in order to raise capital to pay down debt.

Keefe, Bruyette & Woods said that Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) shares are most likely worthless.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 6 points to 622.

Stocks Open Higher as Oil Nears $80

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Investors were cautiously optimistic about this week's corporate earnings reports.  Oil prices surged toward the $80 a barrel mark to lift energy companies.   The Dow rose 21 points to 10,017 while Nasdaq added a point to 2158.

On the upside

Investor Icahn offered a $6 billion load to CIT (NYSE: CIT) although analysts suggested a bankruptcy was still possible that would give control of the company to note holders.

Sprint (NYSE: S) offered $426 million in cash to buy affiliate iPCS (Nasdaq: IPCS).

Allion Healthcare (Nasdaq: ALLI) received a $6.60 cash bid from a private equity firm.

On the downside

Hasbro (NYSE: HAS) posted slightly lower revenues and higher profits as the toy maker reined in costs.

Callaway Golf (NYSE: ELY) offered a lower outlook for its 3rd quarter.  Analysts promptly downgraded the stock.

PetMed Express (Nasdaq: PETS) reported profits that met expectations, but missed revenue targets.

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 2 points to 618.

Bank of America reported a larger than expected loss to send the markets down to a lower close with the Dow tumbling 67 points to 9995. Nasdaq lost 16 points to 2156.

On the upside 

Kandi Technologies' (Nasdaq: KNDI) electric powered vehicle meets requirements for purchasers to receive tax credits.

Harris (NYSE: HRS) landed an Army contract valued at approximately $419 million to provide field radios and vehicle power-amplifier adapter systems.

Although sales slipped for Tempur-Pedic International (NYSE: TPX), earnings rose prompting KeyBanc Capital Markets analyst Bradley M. Thomas to lift his price target for the mattress maker.

On the downside

CryptoLogic (Nasdaq: CRYP) warned of losses for the third quarter due to low daily wagering volume.

Hutchinson Technology (Nasdaq: HTCH) appointed new directors to its board.

GSC Investment (NYSE: GNV) widened second quarter losses.

In the broad market, declining issues edged out 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 dropped 7 points to 616.

Disappointing earnings weighed down the markets during the midday with the Dow tumbling 61 points to 10,001. Nasdaq lost 10 points to 2162.

On the upside 

Shares of China Real Estate (Nasdaq: CRIC) surged on its first day of trading.

Estee Lauder (NYSE: EL) expects first quarter earnings to be much higher than originally anticipated.

Third quarter earnings for Cytec Industries (NYSE: CYT) topped estimates prompting the specialty chemicals maker to boost its full year guidance.

On the downside

Palomar Medical Technologies (Nasdaq: PMTI) and Johnson & Johnson (NYSE: JNJ) terminated their agreement to develop, test and market an over-the-counter wrinkle treatment for home use.

Sensient Technologies (NYSE: SHAW) reported lower third quarter earnings and cut its full year outlook.

While third quarter earnings for Valmont (NYSE: VMI) surpassed analyst expectations, the company forecast lower sales in the fourth quarter.

In the broad market, declining issues edged out advancers by a margin of more than 2 to 1 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 617.

Significant losses at Bank of America sent the markets tumbling to a sharply lower open with the Dow plunging 103 points to 9959. Nasdaq dropped 17 points to 2155.

On the upside 

Shares of Royale Energy (Nasdaq: ROYL) continued to climb after announcing the discovery of a significant natural gas field.

Brigham Exporation (Nasdaq: BEXP) that its Brad Olson 9-16 #1H well produced approximately 2,112 barrels of oil equivalents per day.

While third quarter earnings for Halliburton (NYSE: HAL) fell, the results topped analyst estimates.

On the downside

MGIC Investment (NYSE: MTG) widened third quarter losses and warned that it may default on notes.

Baird analyst Andrea E. Wirth cited comments by the Nuclear Regulatory Commission about a reactor design for downgrading Shaw Group (NYSE: SHAW).

Advanced Micro Devices (NYSE: AMD) disappointed with a third quarter loss as revenue fell.

In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 618.

Markets Close Modestly Higher

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The markets closed modestly higher with the Dow gaining 47 points to 10,062 over corporate earnings. Nasdaq added a point to 2173.

On the upside 

Royale Energy (Nasdaq: ROYL) announced the discovery of a significant natural gas field.

DSW (NYSE: DSW) lifted its guidance for the year due to better than expected revenue.

Chicago Bridge & Iron (NYSE: CBI) received a contract valued at over $70 million to upgrade a Serbian oil refinery.

On the downside

Third quarter advertising revenue plunged for McClatchy (NYSE: MNI).

Sterlite Industries (NYSE: SLT) announced intentions to issue a convertible notes offering.

Cypress Semiconductor (NYSE: CY) blamed stock option expenses for swinging to a third quarter loss.

In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 623.

Disappointment over earnings weighed down the markets during the midday with the Dow easing 4 points to 10,010. Nasdaq lost 7 points to 2164.

On the upside 

Linktone (Nasdaq: LTON) entered an agreement to provide video highlights of Major League Baseball games to China National Radio Mobile Media.

BioSante Pharmaceuticals (Nasdaq: BPAX) completed its acquisition of Cell Genesys.

CIT Group (NYSE: CIT) is close to finalizing the details of a loan to repay debt.

On the downside

Sterling Financial (Nasdaq: STSA) agreed to a cease and desist order issued by the Federal Deposit Insurance Corp.

Converted Organics (Nasdaq: COIN) priced its offering of 15 million units at $1.06 per unit.

Third quarter earnings for Fairchild Semiconductor International (NYSE: FCS) plummeted.

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 fell 3 points to 620.

Stocks Open Lower on Profit Taking

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Investors cashed in on recent gains as banks reported quarterly earnings.  1st time jobless claims for the latest week retreated.   Oil prices rose above the $75 a barrel mark. The Dow slipped 15 points to 10,000 while Nasdaq gave up 3 points to 2168.

On the upside 

Shares of Acorda Therapeutics (Nasdaq: ACOR) soared after the FDA gave the company's multiple sclerosis treatment a positive review.

Rubio's Restaurant (Nasdaq: RUBO) received an $80 million unsolicited offer from a private equity firm.

Solta Medical (Nasdaq: SLTM) received FDA approval for its laser treatment that removes pigments.

On the downside

Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS) reported revenues and profits that beat targets, but investor expectations were much higher after yesterday's robust quarterly earnings by JPM Morgan Chase (NYSE: JPM).

Nokia (NYSE: NOK) posted a loss due to a significant write-down of a joint venture with Siemens and falling smartphone handset sales.

Crown Holdings (NYSE: CCK) posted lower profits as food and drink packaging revenues fell.

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 lost 2 points to 621.

Dow Closes Above 10,000

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The Dow soared 144 points to 10,015, closing above the 10,000 mark for the first time in a year over upbeat earnings news. Nasdaq leaped 32 points to 2172.

On the upside

ZioPharm Oncology (Nasdaq: ZIOP) reported upbeat results from a midstage clinical trial of its cancer drug Zymafos.

Genworth Financial (NYSE: GNW) increased its board by two members to a total of 11 directors and declared a quarterly dividend of $0.65625 per Series A Cumulative Preferred Stock payable on December 1 to shareholders of record November 13.

Shares of MGIC Investment (NYSE: MTG) rose ahead of its earnings release before market open on Friday.

According to the Wall Street Journal, Lazard (NYSE: LAZ) chief executive Bruce Wasserstein died.

On Semiconductor (Nasdaq: ONNN) will release third quarter earnings after market close on November 4, 2009. 

United Airlines (Nasdaq: UAUA) will offer non-stop flights between Pensacola and Washington Dulles International Airport twice a day beginning on February 11, 2010.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 12 points to 623.

Upbeat Earnings Lifts Markets

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Upbeat earnings reports boosted investors sentiment to send the markets soaring during the midday with the Dow surging 112 points to 9983. Nasdaq climbed 25 points to 2165.

On the upside

Roth Capital upgraded LJ International (Nasdaq: JADE) after the company forecast higher earnings for the third quarter.

BioMimetic Therapeutics (Nasdaq: BMTI) reported that its late stage clinical trial for its bone fusion system met study goals.

Longbow upgraded Temple-Inland (NYSE: TIN).

On the downside

LDK Solar's (NYSE: LDK) senior vice president of manufacturing Nicola Sarno resigned.

Regulatory limitations prevent Minsheng Bank from acquiring a controlling stake in UCBH Holdings (Nasdaq: UCBH).

Shares of MetroPCS (NYSE: PCS) and Leap Wireless (Nasdaq: LEAP) dropped after Wal-Mart (NYSE: WMT) announced that it was expanding its offering of inexpensive mobile services.

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 gained 8 points to 619.

Investors snapped up stocks across the board on the heels of a pair of strong earnings reports from Intel and JPMorgan Chase.   The Dow approached the 10,000 point mark climbing 90 points to 9961 while the tech-heavy Nasdaq leaped 22 points to 2162.

On the upside

JPMorgan Chase (NYSE: JPM) posted $3.59 billion in quarterly profits even as it set aside more loan loss reserves.

Chip giant Intel (Nasdaq: INTC) announced a modest decline in profits that beat expectations while raising its revenue outlook for the final quarter of the year.

Conseco (NYSE: CNO) priced nearly $300 million in convertible senior notes to help shore up the insurer's balance sheet.

On the downside

An analyst downgraded Valero Energy (NYSE: VLO).

RCN tapped Rovi Corporation (Nasdaq: ROVI) to license the company's interactive program guides for digital TV.

Analysts downgraded a number of airline stocks.  Shares of Air Tran Holdings (NYSE: AAI) and JetBlue (Nasdaq: JBLU) fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 617.

Mixed Close Over Mixed Earnings

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The markets closed narrowly mixed amidst mixed earnings and rising oil prices with the Dow falling 14 points to 9871. Nasdaq added a fraction to 2139.

On the upside 

Ocean Power Technologies (Nasdaq: OPTT) entered an engineering agreement with Lockheed Martin (NYSE: LMT) to develop wave power systems.

Headwaters (NYSE: HW) announced a $280 million private placement of senior secured notes.

Sinclair Broadcast Group (NYSE: SBGI) said that third quarter revenue will top estimates.

Interactive Intelligence (Nasdaq: ININ) reported preliminary third quarter results that rose to surpass analyst expectations.

Grandunion acquired enough shares of Aries Maritime Transport (Nasdaq: RAMS) to control 71% of the voting shares.

On the downside

Vanda Pharmaceuticals (Nasdaq: VNDA) licensed the marketing and development rights to its schizophrenia treatment Fanapt to Novartis.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 611.

Markets Slip As Oil Advances

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Rising oil prices along with mixed earnings weighed down the markets during the midday with the Dow losing 12 points to 9873. Nasdaq slipped a point to 2137.

On the upside 

Avanir Pharmaceuticals (Nasdaq: AVNR) reported that its Phase III double-blind clinical trial of its multiple sclerosis treatment Zenvia met expectations.

FBR Capital Markets upgraded Pacific Sunwear (Nasdaq: PSUN).

Analysts expect McClatchy (NYSE: MNI) to report upbeat third quarter results as the advertising slump begins to recover and the newspaper company slashed expenses.

On the downside

Jefferies & Co. upgraded Synaptics (Nasdaq: SYNA).

Tower Semiconductor (Nasdaq: TSEM) chief executive Russell Ellwanger does not expect the company to be profitable until the second half of 2010.

Domino's Pizza (NYSE: DPZ) disappointed with a larger than expected drop in third quarter revenue.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 610.

Investors took profits as corporate earnings mostly met expectations.  Meanwhile, gold prices soared to a new high of $1069 an ounce.  The Dow lost 58 points to 9827 while Nasdaq gave up 8 points to 2131.

On the upside 

Wireless network gear maker Starent Networks (Nasdaq: STAR) was snapped up by Cisco Systems (Nasdaq: CSCO) in a $2.9 billion deal.

Pier 1 Imports (NYSE: PIR) surprised analysts after announcing same-store sales rising nearly 10% versus year-ago levels.

Vanda Pharmaceuticals (Nasdaq: VNDA) signed an exclusive license agreement with Novartis (NYSE: NVS) to market its schizophrenia drug.

On the downside

CIT Group (NYSE: CIT) announced that its chairman and CEO will resign at the end of the year.

Johnson & Johnson (NYSE: JNJ) posted a slim increase in profits as 3rd quarter revenues missed forecasts.

An analyst downgraded Acorda Therapeutics (Nasdaq: ACOR) which recently received an FDA safety report questioning the company's multiple sclerosis drug.

In the broad market, declinig issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 609.

Mixed Close Over Recovery Hopes

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The markets closed mixed even as investors remained optimistic about the economic recovery with the Dow rising 20 points to 9885. Nasdaq eased a fraction to 2139.

On the upside 

Blackstone Group (NYSE: BX) announced plans to take eight companies public.

Ford (NYSE: F) increased its market share in Europe to more than 10% in September.

Stifel Nicolaus initiated coverage of Forest Oil (Nasdaq: FST) with a Buy rating.

On the downside

Shares of Avanir Pharmaceuticals (Nasdaq: AVNR) continued to fall after reporting mixed results for its multiple sclerosis treatment Zenvia.

Shares of Las Vegas Sands (NYSE: LVS) and MGM Mirage (NYSE: MGM) fell after Macau said that it may impose age limits and cap the number of tables in the gambling mecca of China.

A CNBC.com article suggesting that video games are priced too high sent shares of Activision Blizzard (Nasdaq: ATVI) tumbling.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost a point to 613.

Economic Optimism Lifts Markets

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Optimism about the economic recovery lifted the markets modestly higher during the midday with the Dow gaining 38 points to 9903. Nasdaq rose 7 points to 2146.

On the upside 

Sinoenergy (Nasdaq: SNEN) will be taken private by Skywide Capital Management.

MDRNA (Nasdaq: MRNA) reported that its UsiRNA reduced tumor growth in liver and bladder cacer models.

Lenders to YRC Worldwide (Nasdaq: YRCW) extended certain credit provisions for the transportation services company.

On the downside

BluePhoenix Solutions (Nasdaq: BPHX) raised approximately $4.2 million through a private placement.

Dell (Nasdaq: DELL) and Salesforce.com (NYSE: CRM) unveiled a new software package available on line on a subscription basis to assist small and mid-size companies manage their customer relations.

Shares of NetEase.com (Nasdaq: NTES) fell after the Chinese government banned foreigners from investing in its online gaming industry.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 617.

Investors expected a light day of trading for the Columbus Day bank holiday.  Meanwhile, oil prices topped the $73 a barrel mark to boost the oil sector. The Dow rose 43 points to 9908 while Nasdaq climbed 12 points to 2151.

On the upside 

Private equity firm Blackstone Group (NYSE: BX) announced plans to list up to eight of its portfolio companies for initial public offerings.

An analyst upgraded Advanced Micro Devices (NYSE: AMD).

Black & Decker (NYSE: BDK) raised its 3rd quarter profit outlook due to stronger sales.

On the downside

Digital River (Nasdaq: DRIV), which provide online sales provider, lost its largest customer Symantec (Nasdaq: SYMC) which decided to take sales operations inhouse.

Depomed (Nasdaq: DEPO) announced disappointing late stage results for its hot flash drug candidate.

The SEC opened another accounting inquiry into KB Home (NYSE: KBH).  There were no additional comments by the SEC or the company.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The S&P 500 rose 2 points to 1073.

Falling oil prices and a declining trade deficit lifted investor sentiment to send the markets up to a higher close with the Dow climbing 78 points to 9864.  Nasdaq gained 15 points to 2139.

On the upside 

Threshold Pharmaceuticals (Nasdaq: THLD) reported interim data from a midstage clinical trial of its cancer treatment TH-302.

GenCorp (NYSE: GY) swung to a third quarter profit as sales rose.

NCI Building Systems (NYSE: NCS) announced that it made progress toward completing a refinancing agreement to reduce debt.

On the downside

BankAtlantic Bancorp (NYSE: BBX) announced that it reached an agreement to settle a shareholder derivative action.

Second quarter sales for 99 Cents Only Stores (NYSE: NDN) fell short of estimates.

YRC Worldwide (NYSE: YRCW) announced that it capped its severance plan to twelve weeks of pay and will require nonunion employees to take eight hours off each month.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 614.

An unexpected drop in the nation's trade deficit in August lifted the markets higher during the midday with the Dow gaining 44 points to 9830.  Nasdaq rose 8 points to 2132.

On the upside 

Sunrise Senior Living (NYSE: SRZ) will sell 21 of its senior living communities to Brookdale Senior Living for approximately $204 million.

Monterey Gourmet Foods (Nasdaq: PSTA) will be acquired by Pulmuone USA for approximately $45.8 million.

The Phoenix Companies (NYSE: PNX) will release third quarter earning on Tuesday, November 3.

On the downside

The Food and Drug Administration advisory panel questioned the safety of Acorda's (Nasdaq: ACOR) multiple sclerosis treatment Fampridine-SR.

Lexicon Pharmaceuticals (Nasdaq: LXRX) will offer over 30 millin shares of common stock in order to raise approximately $50 million.

Sterne Agee downgraded Discover Financial Services (NYSE: DFS).

In the broad market, declining issues barely edged out advancers on the NYSE while advancers outpaced decliners by a margin of 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 611.

Exports rose for the month of September while imports fell which hinted at weak consumer spending.  The Dow slipped 4 points to 9783.  Nasdaq held steady at 2124.

On the upside 

Kimberly-Clark (NYSE: KMB) offered $276 million in cash to buy medical devices company I-Flow Corp. (Nasdaq: IFLO).

Shares of NCR (NYSE: NCR) rebounded after yesterday's sell-off when its CFO resigned.

Shares of Scientific Learning (Nasdaq: SCIL) surged after the for-profit school released preliminary revenue and profit forecasts that topped expectations.

On the downside

PepsiCo (NYSE: PEP) posted higher quarterly profits, but revenues for the soft drink and snack maker slipped.

An analyst upgraded Marriott (NYSE: MAR) which wrote down a sizable quarterly charge from timeshares, but profits from operations were better than expected.  Investors sold on the news.

The FDA did not approve a colon cancer drug treatment developed by Spectrum Pharmaceuticals (Nasdaq: SPPI).

In the broad market, advancing issues were even with decliners on the NYSE and outpaced decliners by a margin of nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 609.

Impressive earnings news lifted the markets to a higher close with the Dow gaining 61 points to 9786. Nasdaq climbed 13 points to 2123.

On the upside 

A jury ruled in ArvinMeritor's (NYSE: ARM) favor in the company's antitrust lawsuit against Eaton (NYSE: ETN).

First quarter earnings for Ruby Tuesday (NYSE: RT) rose despite lower revenue as the restaurant chain controlled expenses.

Ceragon Networks (Nasdaq: CRNT) will provide equipment to a leading WiMAX operator in North America.

On the downside

Finisar (Nasdaq: FNSRD) will sell $75 million worth of new bonds in order to pay down debt.

Stewart Information Services (NYSE: STC) plans to offer $60 million in senior convertible notes .

The chief financial officer of NCR (NYSE: NCR) resigned in order to accept a position at another company.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 607.

Better than expected earnings news lifted the markets higher during the midday with the Dow climbing 87 points to 9813. Nasdaq soared 22 points to 2133.

On the upside 

Liz Claiborne (NYSE: LIZ) signed an exclusive deal to sell its namesake apparel at J. C. Penney (NYSE: JCP).

The National Defense Transportation Association awarded YRC Worldwide (Nasdaq: YRCW) the 2009 NDTA Distinguished Service Award.

Shares of Lennar (NYSE: LEN) rose over optimism that the $8,000 tax credit for first time home buyers will be extended.

On the downside

Repros Therapeutics (Nasdaq: RPRX) will raise approximately $4.4 million through the sale of 3.5 million shares to institutional investors.

Savient Pharmaceuticals (Nasdaq: SVNT) will sell approximately 4.6 million shares in order to raise capital.

WellPoint (Nasdaq: WLP) stock tumbled after a nonpartisan budget analysis said that the healtcare reform bill will not increase the budget deficit.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 610.

Investors were optimistic about corporate earnings.  Meanwhile, first time jobless claims for the latest week were expected to drop.   The Dow rose 49 points to 9775 while Nasdaq rose 11 points to 2121.

On the upside 

Alcoa (NYSE: AA) posted a surprise profit even as worldwide demand for aluminum declined. Shares of other industry players like Century Aluminum (Nasdaq: CENX) joined the rally.

An analyst upgraded video game retailer GameStop (NYSE: GME) ahead of the important holiday shopping season.

Most retailers expected good September sales growth.  Shares of Abercrombie & Fitch (NYSE: ANF) rose when its sales decline turned out to be better than expected.

On the downside

PepsiCo (NYSE: PEP) posted higher quarterly profits, but revenues for the soft drink and snack maker slipped.

Marriott (NYSE: MAR) announced a sizable quarterly loss due to write-downs and warned off hotel pricing pressures through 2010.

An analyst downgraded communications equipment maker Polycom (Nasdaq: PLCM) to neutral.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 604.

It was a mixed close for the markets with the Dow slipping 5 points to 9725 as consumers cut their borrowing for the seventh month in a row and investors brace for earnings reports. Nasdaq gained 6 points to 2110.

On the upside 

Shares of Verisk (Nasdaq: VRSK) surged on its first day of trading.

Avanir Pharmaceuticals (Nasdaq: AVNR) will receive a new patent for its neurological disorder medication Zenvia.

Friedman, Billings, Ramsey analyst Adrienne Tennant lifted her price target for Talbots (NYSE: TLB) citing efforts by the company to improve operations.

On the downside

Standard Pacific (NYSE: SPF) will release third quarter earnings after market close on Thursday October 29, 2009.

Allos Therapeutics (Nasdaq: ALTH) increased the size of its offering to 14 million shares.

Sprint (NYSE: S) settled five shareholder lawsuits opposing the company's plan to purhase of Virgin Mobile USA.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 602.

Markets Slip Ahead Of Earnings

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The markets slipped ahead of earnings season with the Dow falling 34 points to 9696 over continued concerns about the economic recovery. Nasdaq eased a fraction to 2103.

On the upside 

According to Bloomberg, China's Minsheng Bank plans to increase its stake in UCBH Holdings (Nasdaq: UCBH) from its current 9.6% to at least 50%.

Labopharm's (Nasdaq: DDSS) active pharmaceutical ingredient supplier resolved manufacturing deficiencies with the Food and Drug Administration.

Goldman Sachs analyst Steven Kent upgraded Wyndham Worldwide (NYSE: WYN) for the company's decision to focus on its fee-for-service business rather than a timeshare business.

On the downside

Viasystems Group announced an all stock deal to purchase rival Merix (Nasdaq: MERX).

Gammon Gold (NYSE: GRS) announced a bought deal financing agreement for $100 million.

AspenBio Pharma (Nasdaq: APPY) priced its offering of 4.5 million shares of common stock at $1.70 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 600.

Investors cashed in recent gains following a two-day rally as companies reported quarterly earnings.  The Dow lost 36 points to 9694 while Nasdaq lost 5 points to 2098.

On the upside 

Costco Wholesale (Nasdaq: COST) reported lower 4th quarter revenues and earnings, but the results beat analysts' estimates.

Family Dollar Stores (NYSE: FDO) posted higher revenues and profits that beat expectations as consumers sought out discounted merchandise.

Ciena Corp. (Nasdaq: CIEN) offered $521 million in cash and stock to buy the optical networking business from Nortel Networks which filed for bankruptcy earlier this year.

On the downside

Investors worried about dilution after Avis Budget Group (NYSE: CAR) announced a $250 million convertible note offering.

AirTran Holdings (NYSE: AAI) offered $75 million in convertible senior notes and 9 million shares of stock.

Shares of Sangamo BioSciences (Nasdaq: SGMO) fell after the genetic drug research company priced 3 million new shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 599.

Rising commodity prices lifted the markets to a sharply higher close with the Dow soaring 131 points to 9731. Nasdaq surged 35 points to 2103.

On the upside 

Sykes Enterprises (Nasdaq: SYKE) will pay approximately $263 million in cash and stock to acquire ICT Group (Nasdaq: ICTG).

SurModics (Nasdaq: SRDX) licensed its biodegradable microparticles to Roche and Genentech in a deal valued at approximately $200 million.

Harbin Electric (Nasdaq: HRBN) will acquire Xi'an Simo Motor.

On the downside

Extreme Networks (Nasdaq: EXTR) forecast quarterly results below analyst expectations.

Harris & Harris Group (Nasdaq: ARRS) will raise approximately $18.6 million through a public offering.

American Reprographics (NYSE: ARP) slashed its 2009 earnings guidance due to sharply lower revenue.

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 climbed 10 points to 601.

Australian rate hike sparked investor optimism of economic recovery sending the Dow soaring 109 points to 9708. Nasdaq surged 26 points to 2095.

On the upside 

NutriSystem (Nasdaq: NTRI) announced that its 14-Day introductory weight loss program will be available at Wal-Mart (NYSE: WMT) stores nationwide.

Despite disappointing results from one late stage clinical trial, Acadia Pharmaceuticals (Nasdaq: ACAD) and Biovail will continue development of its Parkinson's disease drug pimavanserin.

Yamana Gold (NYSE: AUY) announced that estimated production for the third quarter has risen over the first and second quarters of the year.

On the downside

MannKind (Nasdaq: MNKD) blamed regulatory delays for announcing that it inhalable insulin product Afresca will not be available at the end of the year.

Jefferies & Co. analyst George Notter downgraded Arris Group (Nasdaq: ARRS) saying that revenue and profit will be hurt by major client Comcast's transition to a new technology.

Verenium (Nasdaq: VRNMD) priced its offering of 2.25 million shares of common stock at $6 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 600.

Investors grew optimistic following an interest rate hike by Australia's central bank.  The Dow surged 91 points to 9691 while Nasdaq leaped 30 points to 2099.

On the upside 

Avocent (Nasdaq: AVCT) received a $1.2 billion cash bid from Emerson Electric (NYSE: EMR) further consolidating the data storage industry.

Pfizer (NYSE: PFE) received favorable comments from the FDA regarding new uses for the company's HIV drug.

Mining stocks rose with shares of Hecla Mining (NYSE: HL) joining the rally.

Shares of Fonar (Nasdaq: FONR) rose after the medical scanner maker posted higher revenues and a return to profitability.

On the downside

Boeing (NYSE: BA) announced a $1 billion charge due to higher costs producing its 747-8 freight planes.

Medical device maker St. Jude Medical (NYSE: STJ) lowered its 3rd quarter outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 599.

The first expansion in the nation's service sector in a year lifted investor sentiment and the markets to a higher close with the Dow soaring 112 points to 9599.  Nasdaq gained 20 points to 2068.

On the upside 

Trident Microsystems (Nasdaq: TRID) lifted its first quarter revenue outlook.

Deutsche Bank analyst Nigel Coe upgraded Manitowoc (NYSE: MTW) saying that the company's foodservice business will be strong.

Telenor Group and Altima will merge their holdings in VimpelCom (NYSE: VIP) and Kyivstar to create a new $23 billion telecom.

On the downside

CIT Group (NYSE: CIT) will increase its $3 billion loan in order to meet funding requirements.

Shares of CalAmp (Nasdaq: CAMP) fell ahead of its earnings release later this week.

Reed (Nasdaq: REED) announced a direct offering of more than $700,000.

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 gained 10 points to 591.

The nation's service sector expanded last month making September the first month of increase in a year.  The Dow gained 86 points to 9573 while Nasdaq climbed 17 points to 2065.

On the upside 

Kudelski Group commenced a tender offer to purchase all outstanding shares of OpenTV (Nasdaq: OPTV) that it does not already own.

CombinatoRx's (Nasdaq: CRXX) drug development partner Fovea Pharmaceuticals will be acquired by Sanofi-Aventis.

Vonage (NYSE: VG) introduced cheap international calling applications for the Blackberry and iPhone.

On the downside

Level 3 Communications (Nasdaq: LVLT) announced Friday that it will sell $275 million in senior convertible notes.

Sprint Nextel (NYSE: S) launched its 4G WiMAX mobile high capacity broadband service in ten cities nationwide but the stock price fell.

Microsoft (Nasdaq: MSFT) chief executive Steve Ballmer said that acquiring other companies is not part of its strategy to expand its its Internet search business.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 588.

The markets opened higher with the Dow up 18 points to 9506.  Nasdaq added 4 points to 1029.  Meanwhile, investors awaited the latest report on the service sector from the Institute for Supply Management.

On the upside 

Brocade Communications Systems (Nasdaq: BRCD) put itself up for sale, according to a Wall Street Journal report.

Shares of AVI BioPharma (Nasdaq: AVII) surged after the company received a Department of Defense contract worth up to $45 million to develop drugs to treat virus infections.

Depomed (Nasdaq: DEPO) announced positive phase 3 trial results for its drug treatment of pain.

On the downside

SciClone Pharmaceuticals (Nasdaq: SCLN) halted development of its pancreatic cancer drug candidate due to safety studies.

Shares of Seattle Genetics (Nasdaq: SGEN) fell after the company suspended mid-stage trials of its cancer drug candidate.

Amicus Therapeutics (Nasdaq: FOLD) reported disappointing results for its drug treatment of a liver and neurological problems.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 584.

Greater than expected job losses sent the markets down to a lower close with the Dow falling 21 points to 9487. Nasdaq lost 9 points to 2048.

On the upside 

Arigene will acquire Trimeris (Nasdaq: TRMS) for approximately $81 million.

Candian Solar (Nasdaq: CSIQ) and Satcon Technology (Nasdaq: SATC) enter strategic partnership to market a turnkey solution.

KBW analyst Jefferson Harralson upgraded BB&T (Nasdaq: BBT) to Outperform.

On the downside

Catalyst Pharmaceutical Partners (Nasdaq: CPRX) will offer approximately 4 million shares at $1 per share.

Robert W. Baird analyst Craig R. Kennison downgraded Winnebago Industries (NYSE: WGO) saying that motor home sales will be slow to recover.

Ford (NYSE: F) said that a $16 an hour wage gap between U. S. workers and Canadian workers must be narrowed through concessions by the Canadian Auto Workers union.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 580.

Concerns that continued job losses threaten the economic recovery weighed down the markets during the midday with the Dow easing 2 points to 9507. Nasdaq slipped 3 points to 2053.

On the upside 

Shares of Education Management (Nasdaq: EDMC) surged on its first day of trading.

Sprint (NYSE: S) settled a patent infringement lawsuit that it filed against Big River Telephone.

QLT (Nasdaq: QLTI) sold its U. S. business to Tolmar Holdings.

On the downside

Catalyst Pharmaceutical Partners (Nasdaq: CPRX) will offer approximately 4 million shares at $1 per share.

Newcastle Investment (NYSE: NCT) cancelled its dividend payment for the third quarter.

China Security & Surveillance Technology (NYSE: CSR) will sell 9.36 million common shares through a direct offering.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 582.

Employers continued to slash jobs in September as the unemployment rate rose to 9.8%.  Elusive job growth limited the ability for consumers to spend.   The Dow fell 56 points to 9452 while Nasdaq lost 5 points to 2052.

On the upside 

Oncolytics Biotech (Nasdaq: ONCY) received an FDA nod to proceed with phase 3 trial of its head and neck cancer treatment.

CIT Group (NYSE: CIT) reached a preliminary agreement to shed debt and to give up 93% of the company to bondholders.

Shares of A123 Systems (Nasdaq: AONE), which recently completed an initial public offering, rose to a new high.

On the downside

Shares of EnteroMedics (Nasdaq: ETRM) tumbled after the company reported disappointing preliminary results for obesity treatment.

Edge Petroleum (Nasdaq: EPEXP) filed for chapter 11 bankruptcy giving up all of its assets to senior secured debt holders.

SMART Modular Technologies (Nasdaq: SMOD) reported higher revenues and a smaller loss,  but the company was cautious about demand for DRAM chips.

In the broad market, declining issues outpaced advancers by a margin of 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 579.

Rising jobless claims along with a slip in manufacturing activity sent the markets tumbling to a sharply lower close with the Dow skidding 203 points to 9509. Nasdaq plummeted 64 points to 2057.

On the upside 

Rodman & Renshaw analyst Jeffrey Hayden initiated coverage of RAM Energy Resources (Nasdaq: RAME) with a Market Outperform.

 

On the downside

CRA International (Nasdaq: CRAI) disappointed with third quarter earnings that fell short of estimates.

Giant Interactive (NYSE: GA) blamed cancellations for warning that third quarter revenue will not meet expectations.

Shares of E-Trade (Nasdaq: ETFC) dropped after Sandler O'Neill Partners analyst Richard Repetto said that September online trading will be lower than last year.

Comcast (Nasdaq: CMCSA) denied reports that it agreed to acquire NBC Universal.

J. P. Morgan analyst Shawn Webster downgraded Nvidia (Nasdaq: NVDA) saying that chipset sales will fall.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 590

A disappointing drop in manufacturing activity last month weighed down the markets during the midday with the Dow plummeting 144 points to 9567. Nasdaq slumped 50 points to 2071.

On the upside 

Chelsea Therapeutics (Nasdaq: CHTP) reported that its neurological disorder treatment Droxidopa demonstrated significant improvement in patients.

Shares of Talecris Biotherapeutics (Nasdaq: TLCR) climbed on its first day of trading.

Colonial Properties Trust (NYSE: CLP) priced its public offering of approximately 10.5 million common shares at $9.50 per share.

On the downside

United Airlines parent UAL (Nasdaq: UAUA) will offer 19 million common shares and $175 million in senior convertible notes.

Credit Suisse analyst John P. McNulty downgraded Rockwood Holdings (NYSE: ROC) after a competitor cut prices.

Shares of Hovnanian (NYSE: HOV) tumbled despite a surge in August pending home sales.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 590.

1st time unemployment claims rose for the latest week as job creation remained elusive.  The Dow lost 76 points to 9635 while Nasdaq dropped 18 points to 2103.

On the upside 

Data storage provider Xyratex (Nasdaq: XRTX) posted lower revenues and flat profits, but the results were better than expected.

An analyst upgraded Alcoa (NYSE: AA) due to rising commodity prices.

On the downside

Cisco Systems (Nasdaq: CSCO) offered about $3 billion to acquire Tandberg ASA, a Norway-based maker of hardware for video conferences.

Satellite Internet service provider ViaSat (Nasdaq: VSAT) offered $568 million in cash and stock to buy WildBlue, a satellite equipment maker.

Charles River Associates (Nasdaq: CRAI) posted 3rd quarter revenues and profits that missed estimates.  The company provides management consulting services.

Penske Automotive (NYSE: PAG) called off a deal to acquire the Saturn line of cars from General Motors after not being able to secure a long-term manufacturer for its production.

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 fell 8 points to 595.

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