February 2010 Archives

Despite drops in consumer sentiment and home sales, the markets closed above the flatline with the Dow adding 4 points to 10,325 as the nation's economy expanded at a greater than expected pace in the fourth quarter. Nasdaq rose 4 points to 2238.

 

On the upside

Aetna (NYSE: AET) will now cover NuVasive's (Nasdaq: NUVA) XLIF spinal surgery procedure.

Deutsche Bank upgraded China Unicom (NYSE: CHU).

Deckers (Nasdaq: DECK) reported higher fourth quarter earnings that beat expectations and forecast 2010 results ahead of estimates.

On the downside

Rockwell Medical's (Nasdaq: RMTI) treatment for anemia in chronic hemodialysis patients failed a mid-stage clinical trial.

Weight Watchers International (NYSE: WTW) reported higher fourth quarter earnings but forecast 2010 results below expectations.

Bancorp South (NYSE: BXS) may have to adjust fourth quarter earnings downwards that were reported on January 21, 2010. 

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE while decliners edged out advancers by more than  10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 628.

A much greater than expected drop in January home sales sent the markets modestly lower during the midday with the Dow losing 6 points to 10,314. Nasdaq eased a fraction to 2234.

 

On the upside

Republic Airways Holdings (Nasdaq: RJET) reported higher fourth quarter earnings as revenue surged from the company's acquisition of Frontier Airlines.

While fourth quarter earnings fell for Interpublic Group of Companies (NYSE: IPG), the advertising company cut expenses and expects economic conditions to stabilize in 2010.

Fourth quarter earnings for Rosetta Stone (NYSE: RST) more than doubled to surpass expectations.

On the downside

Cleveland BioLabs (Nasdaq: CBLI) raised $5 million through a private placement of common shares and warrants for common shares to institutional investors.

Novatel Wireless (Nasdaq: NVTL) reversed year ago losses to post a profit for the fourth quarter but the company forecast first quarter results well below expectations.

Fourth quarter earnings for SandRidge Energy (NYSE: SD) fell short of estimates and the company trimmed its production outlook for 2010. 

In the broad market, advancing issues barely edged out decliners by a slim margin of nearly 5 to 4 on the NYSE while decliners outpaced advancers by more than  9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 627.

A slip in consumer sentiment in February weighed down the markets to a lower open with the Dow falling 53 points to 10,321. Nasdaq eased a point to 2234.

 

On the upside

Private equity firm Thomas H. Lee Partners will pay approximately $619 million in cash to acquire Carl's Jr. and Hardee's owner CKE Restaurants (NYSE: CKE).

Gap (NYSE: GPS) reported higher fourth quarter earnings that topped analyst estimates, increased it annual dividend and forecast 2010 results ahead of expectations.

A nine year study demonstrated that using stents was just as effective as surger to prevent strokes, lifting shares of carotid artery stent maker Ev3 (Nasdaq: EVVV).

On the downside

Crocs (Nasdaq: CROX) narrowed fourth quarter losses as revenue rose, but the colorful plastic shoemaker also announced the retirement of company president and chief executive John Duerden.

AthenaHealth (Nasdaq: ATHN) cited an accounting review for delaying the release of its fourth quarter earnings. Analysts downgraded the company.

American International Group (NYSE: AIG) reported a fourth quarter loss of $8.9 billion or $65.51 per share. 

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 629

An unexpected jump in jobless claims and the possibility of a credit downgrade of Greece sparked economic recovery concerns to send the markets down to a lower close with the Dow falling 53 points to 10,321. Nasdaq eased a point to 2234.

 

On the upside

LTX-Credence (Nasdaq: LTXC) swung to a second quarter profit that topped analyst expectations and forecast third quarter results ahead of estimates.

Excel Maritime (NYSE: EXM) reversed year ago losses to post a much higher than expected profit for the fourth quarter.

Fourth quarter earnings for Smith Micro Software (Nasdaq: SMSI) beat analyst expectations by a wide margin.

On the downside

Sunrise Senior Living (NYSE: SRZ) swung to a profit for the fourth quarter but the company announced the elimination of another thirty positions.

Dynegy (NYSE: DYN) widened fourth quarter losses as revenue tumbled.

Holly (NYSE: HOC) reported a wider than expected loss for the fourth quarter. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 630.

Initial applications for unemployment benefits unexpectedly rose last week renewing concerns about the economic recovery. The markets extended its losses during the midday with the Dow plummeting 162 points to 10,211 while Nasdaq plunged 30 points to 2205.

 

On the upside

Liberty Media (Nasdaq: LINTA) reported higher fourth quarter revenue for each of its groups.

Fourth quarter earning for True Religion (Nasdaq: TRLG) rose to top estimates.

Dr. Pepper Snapple Group (NYSE: DPS) swung to a profit for the fourth quarter.

On the downside

Fourth quarter earnings for steel pipe products company Tenaris (NYSE: TS) more than doubled but analysts expected even greater results.

GameStop (NYSE: GME) chief financial officer Catherine R. Smith resigned to join Wal-Mart's (NYSE: WMT) international division.

RRI Energy (NYSE: RRI) disappointed with a fourth quarter loss as earnings fell. 

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 622.

Concerns that Greece's credit rating may be downgraded sent the markets down to a sharply lower open with the Dow plunging 157 points to 10,216. Nasdaq tumbled 30 points to 2205.

 

On the upside

Coca-Cola (NYSE: KO) will acquire bottler Coca-Cola Enterprises' (NYSE: CCE) North American operations.

Express Scripts (Nasdaq: ESRX) reported higher fourth quarter profit as revenue surged.

Mylan (NYSE: MYL) reversed year ago losses to post a greater than expected profit for the fourth quarter.

On the downside

Palm (Nasdaq: PALM) blamed disappointing demand for cutting its revenue outlook for the third quarter as well a the full year.

Oppenheimer analyst Dr. Brian Abrahams downgraded Anadys Pharmaceuticals (Nasdaq: ANDS) after the company reported that its hepatitis C treatment was barely more effective than a placebo.

Fourth quarter earnings for Foster Wheeler (Nasdaq: FWLT) tumbled as demand and prices fell. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 622.

Federal Reserve Chairman Ben Bernanke's reassurances that interest rates will continue to remain low for the foreseeable future lifted the markets to a higher close with the Dow soaring 91 points to 10,374. Nasdaq climbed 22 points to 2235.

 

On the upside

Dycom Industries (NYSE: DY) narrowed second quarter losses and announced that it will buy back up to $20 million worth of common stock.

Carnival Cruise Lines (NYSE: CCL) announced price increases for summer cruises after reporting record wave season bookings.

McMoRan Exploration (NYSE: MMR) director Robert Day purchased nearly $1.1 million worth of company stock.

On the downside

InfoLogix (Nasdaq: IFLG) restructured a $25 million senior debt financing from Hercules Technology Growth Capital (Nasdaq: HGTC).

Raymond James analyst Budd Bugatch downgraded Culp (NYSE: CFI) citing valuation concerns.

Trina Solar (NYSE: TSL) reported higher fourth quarter earnings that topped analyst estimates but warned that margins will slip in the first quarter. 

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 climbed 5 points to 630.

Investors were cheered by Federal Reserve Chairman Ben Bernanke's comment that interest rates are expected to remain low. The Dow climbed 92 points to 10,374 while Nasdaq gained 23 points to 2237.

 

On the upside

PositiveID (Nasdaq: PSID) partnered with banking and payments technology company FIS (NYSE: FIS) to launch PositiveID's next generation Health Link personal health record.

Dollar Tree (Nasdaq: DLTR) reported higher fourth quarter earnings that beat expectations and forecast 2010 results ahead of estimates.

Zale (NYSE: ZLC) swung to a profit for the second quarter due to a tax benefit.

On the downside

H&R Block (Nasdaq: HRB) warned that fiscal 2010 earnings will fall short of estimates as more consumers prepare their own taxes.

Transocean (NYSE: RIG) disappointed with lower fourth quarter earnings that fell short of estimates.

Hertz Global (NYSE: HTZ) narrowed fourth quarter losses but the stock price fell. 

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 630.

The markets opened modestly higher with the Dow gaining 31 points to 10,313 ahead of Federal Reserve Chairman Ben Bernanke's testimony before Congress about the economic health of the nation. Nasdaq rose 13 points to 2227.

 

On the upside

R. R. Donnelley (Nasdaq: RRD) will pay approximately $481 million in cash to acquire Bowne & Co. (NYSE: BNE), which values the company at a 65% premium over Tuesday's closing price.

A Food and Drug Administration advisory panel recommended approval for Salix Pharmaceuticals' (Nasdaq: SLXP) Xifaxan to treat a liver disorder.

Autodesk (Nasdaq: ADSK) swung to a profit that beat analyst expectations prompting an upgrade.

On the downside

Although Stec (Nasdaq: STEC) reversed year ago losses to post a fourth quarter profit, earnings fell short of estimates and the company warned of losses in the first quarter.

Century Aluminum (Nasdaq: CENX) narrowed fourth quarter losses but missed expectations.

While fourth quarter earnings for Garmin (Nasdaq: GRMN) beat expectations, the navigation device maker warned that margins will drop in 2010 due to lower prices and increased competition. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 629.

The Conference Board reported a steeper than expected drop in consumer confidence sending the markets down to a lower close with the Dow plunging 100 points to 10,282. Nasdaq tumbled 28 points to 2213.

 

On the upside

Shares of Ford (NYSE: F) rose as Toyota Motors (NYSE: TM) President Akio Toyoda prepares to testify before Congress tomorrow.

Microchip Technology (Nasdaq: MCHP) increased its cash acquisition offer for Silicon Storage (Nasdaq: SSTI) to $3 per share.

Checkpoint Systems (NYSE: CKP) reported higher fourth quarter earnings that beat analyst expectations.

On the downside

Fourth quarter earnings for Huron Consulting (Nasdaq: HURN) more than quadrupled but the company forecast 2010 revenue below expectations.

Tenet Healthcare (NYSE: THC) disappointed with fourth quarter earnings and revenue that fell short of estimates.

HealthSouth (NYSE: HLS) reported lower fourth quarter earnings and forecast 2010 earnings below expectations. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 7 points to 625.

A much sharper than expected drop in consumer confidence weighed down the markets during the midday with the Dow tumbling 84 points to 10,299. Nasdaq plunged 30 points to 2211.

 

On the upside

Fourth quarter earnings for Cimatron (Nasdaq: CIMT) nearly doubled as gross margin improved.

The Wall Street Journal reported that private equity firm Apollo Management may purchase a stake in Zale (NYSE: ZLC).

Wilmington Trust (NYSE: WL) will offer $250 million shares of stock.

On the downside

Great Lakes Dredge & Dock (Nasdaq: GLDD) reported lower fourth quarter earnings and revenue.

Although fourth quarter earnings for Mercadolibre (Nasdaq: MELI) rose, revenue fell short of expectations.

CommScope (NYSE: CTV) disappointed with fourth quarter revenue that missed estimates and forecast first quarter revenue below expectations. 

In the broad market, declining issues outpaced advancers 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 lost 7 points to 624.

The markets opened lower with the Dow falling 65 points to 10,318 as consumer confidence tumbled in February. Nasdaq dropped 26 points to 2215.

 

On the upside

Home Depot (NYSE: HD) reversed year ago losses to post a fourth quarter profit, increased its quarterly dividend for the first time in four years and forecast 2010 earnings ahead of estimates.

Radian Group (NYSE: RDN) narrowed fourth quarter losses more than expected and said that mortgage delinquencies should stabilize this year.

Office Depot (NYSE: ODP) reported a narrower than expected loss for the fourth quarter as revenue topped estimates.

On the downside

While Brocade Communications Systems (Nasdaq: BRCD) swung to a first quarter profit, revenue fell short of estimates and the company forecast disappointing revenue growth for the year prompting downgrades.

Bank of America Merrill Lynch downgraded Palm (Nasdaq: PALM) and halved its price target on the company.

RadioShack (NYSE: RSH) reported higher fourth quarter earnings but accessory sales were weak. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 626.

Analysts expect gasoline prices to climb over $3 a gallon by summer sending the markets down to a lower close with the Dow losing 18 points to 10,383. Nasdaq eased a point to 2242.

 

On the upside

Thermo Fisher Scientific (NYSE: TMO) offered to acquire Millipore (NYSE: MIL) for approximately $6 billion.

Green Plains Renewable (Nasdaq: GPRE) reversed year ago losses to post a profit for the fourth quarter.

Shares of Huntsman (NYSE: HUN) continued to rise after reporting on Friday fourth quarter earnings that topped estimates.

On the downside

Unconfirmed reports surfaced that orders for Research In Motion's (Nasdaq: RIMM) Blackberry Storm were being cancelled or cut.

Morgan Joseph analyst Shiv Kapoor downgraded Gilead (Nasdaq: GILD) to a Sell rating saying that patents for five of the company's major drugs will expire at the end of the decade.

Goldman Sachs downgraded Graco (NYSE: GGG) to a rating of Sell due to concerns of a strengthening dollar. 

In the broad market, advancing issues barely outpaced decliners by a slim margin on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 632.

Markets Flat On Cautious Outlooks

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The markets traded near the flatline with the Dow slipping 5 points to 10,396 as corporations issued cautious outlooks and warned of continued economic challenges. Nasdaq lost 3 points to 2240.

 

On the upside

BB&T Capital Markets analysts upgraded Pacer International (Nasdaq: PACR) to a Buy rating.

Fourth quarter earnings slipped for Quanta Services (NYSE: PWR) but the results beat analyst expectations.

Shares of Commercial Metals (NYSE: CMC) rose over rumors that the company may be the target of an acquisition.

On the downside

Barclays Capital downgraded LDK Solar (NYSE: LDK).

Thomas Weisel downgraded Vishay Intertechnology (NYSE: VSH).

After market close on Friday, NCI Building Systems (NYSE: NCS) announced a 1-for-5 reverse stock split on common shares to be effective March 5, 2010. 

In the broad market, advancing issues barely outpaced decliners by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 632.

Rising Oil Prices Weigh Down Markets

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The marketst opened lower with the Dow losing 21 points to 10,381 as oil prices approached $80 per barrel. Nasdaq slipped 4 points to 2239.

 

On the upside

Shares of XenoPort (Nasdaq: XNPT) continued to recover after collapsing Thursday when the Food and Drug Administration raised concerns about the biopharmaceuticals' restless leg syndrome treatment.

Schlumberger  (NYSE: SLB) will acquire rival Smith International  (NYSE: SII) in a stock deal valued at approximately $11 billion.

Merrill Lynch set a 2012 earnings expectation for Alcatel-Lucent (NYSE: ALU) well above consensus.

On the downside

Barclays downgraded Yingli Green Energy (NYSE: YGE).

Oppenheimer analyst Scott Schneeberger downgraded H&R Block (NYSE: HRB) saying that many consumers will prepare their own taxes instead of using a professional in light of the challenging economic times.

Valassis Communications (NYSE: VCI) reversed year ago losses but the results fell short of estimates. 

In the broad market, declining issues outpaced advancers by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 630.

Investors shrugged off the Federal Reserve's interest rate increase to focus instead on a smaller than expected gain in consumer prices. The markets closed modestly higher with the Dow adding 9 points to 10,402 while Nasdaq edged up 2 points to 2243.

 

On the upside

Bargain hunters snapped up shares of XenoPort (Nasdaq: XNPT), whose stock price dropped yesterday after the Food and Drug Administration failed to approve the company's restless leg syndrome treatment Horizant.

KeyBanc Capital Markets upgraded Liz Claiborne (NYSE: LIZ) to a Buy rating.

Fourth quarter earnings and revenue for Newpark Resources (NYSE: NR) beat analyst expectations.

On the downside

Merit Medical Systems (Nasdaq: MMSI) reported lower fourth quarter earnings.

The Knot (Nasdaq: KNOT) blamed impairment charges for widening fourth quarter losses.

Endologix (Nasdaq: ELGX) reported a loss for the fourth quarter. 

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 2 points to 631.

The markets recovered to trade modestly higher during the midday with the Dow adding 22 points to 10,415 as consumer prices rose less than expected in January with core inflation easing by 0.1%. Nasdaq rose 4 points to 2246.

 

On the upside

Fourth quarter earnings for Sapient (Nasdaq: SAPE) more than doubled to beat expectations.

RAIT Financial Trust (NYSE: RAS) reversed year ago losses to post a profit for the fourth quarter.

The creation of a Wholesale Applications Community by wireless carriers offering apps for smartphones lifted shares of Sprint (NYSE: S).

On the downside

Capstone Turbine (Nasdaq: CPST) priced its offering of 38.1 million common shares at $1.05 per share.

The Food and Drug Administration staff questioned the safety of Salix Pharmaceuticals' (Nasdaq: SLXP) Xifaxan as a liver disorder treatment.

Licensing discussions for ARYx Therapeutics' (Nasdaq: ARYX) oral antiarrythmic drug budiodarone collapsed forcing the biopharmaceutical to reduce its workforce and explore strategic options. 

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 631.

The Federal Reserve raised the discount rate, the rate the agency charges banks for overnight loans, to weigh the markets down to a lower open with the Dow slipping 21 points to 10,371. Nasdaq lost 7 points to 2234.

 

On the upside

Second quarter earnings rose to top estimates for Intuit (Nasdaq: INTU) due to strong sales and the tax preparation software company lifted its outlook for the year.

Aruba Networks (Nasdaq: ARUN) narrowed second quarter losses more than expected as revenue climbed.

The Wall Street Journal reported that oil services firm Schlumberger (NYSE: SLB) is engaged in advanced negotiations to purchase rival Smith International (NYSE: SII).

On the downside

Dell (Nasdaq: DELL) disappointed with lower fourth quarter earnings that fell far short of analyst expectations.

EnergySolutions (NYSE: ES) chief executive Steve Creamer resigned and will be replaced by president Val John Christensen.

Canadian Solar (Nasdaq: CSIQ) blamed higher costs, a drop in prices and faulty equipment for lowering margins for the fourth quarter. 

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 626.

Despite an increase in initial jobless claims, the markets closed higher with the Dow climbing 83 points to 10,392 as regional manufacturing activity rose. Nasdaq gained 15 points to 2241.

 

On the upside

Fourth quarter earnings for Cliffs Natural Resources (NYSE: CLF) doubled.

Gencorp (NYSE: GY) director Warren G. Lichtenstein purchase approximately $1.3 million worth of stock in the company.

Shares of Ruth's Hospitality Group (Nasdaq: RUTH) rose ahead of its earnings release tomorrow before markets open.

On the downside

Shares of DepoMed (Nasdaq: DEPO) fell over concerns that the Food and Drug Administration may not approve the pharmaceutical's menopausal hot flash and postherapetic neuralgia treament gabapentin.

Regeneron Pharmaceuticals (Nasdaq: REGN) blamed higher expenses for widening fourth quarter losses.

While WellCare Health Plans (NYSE: WCG) swung to a profit for the fourth quarter, the health insurer forecast 2010 results below estimates warned that market conditions will continue to be challenging. 

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 629.

The markets traded modestly higher during the midday with the Dow rising 21 points to 10,330 as manufacturing activity in the mid-Atlantic region rose. Nasdaq added 2 points to 2229.

 

On the upside

Fourth quarter earnings for Career Education (Nasdaq: CECO) topped analyst estimates.

Priceline.com (Nasdaq: PCLN) reported fourth quarter earnings that more than doubled to beat expectations.

UBS analyst Neil Currie said that Rite Aid (NYSE: RAD) may be a good acquisition target for some competing pharmacies.

On the downside

Fourth quarter earnings for O'Reilly Automotive (Nasdaq: ORLY) soared but revenue fell short of expectations.

Avis Budget Group (NYSE: CAR) narrowed fourth quarter losses but warned of continued weakness in the first half of 2010.

MGM Mirage (NYSE: MGM) narrowed losses for the fourth quarter but the results fell short of analyst estimates. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 624

The Conference Board reported that its index of leading economic indicators rose in January, but the gain was smaller than expected. The markets opened mixed with the Dow adding 12 points to 10,321 while Nasdaq eased a point to 2224.

 

On the upside

Fairfax Financial will pay $38 per share in cash to acquire Zenith National Insurance (NYSE: ZNT), a 31.4% premium over yesterday's closing price.

Chesapeake Energy (NYSE: CHK) narrowed fourth quarter losses.

Fourth quarter earnings for ABB (NYSE: ABB) more than doubled to beat expectations.

On the downside

The Food and Drug Administration sent XenoPort (Nasdaq: XNPT) and GlaxoSmithKline (NYSE: GSK) a Complete Response letter with more questions about their restless leg syndrome treatment Horizant.

Nvidia (Nasdaq: NVDA) reversed year ago losses to post a profit for the fourth quarter  but the stock price fell as revenue failed to meet overly optimistic expectations.

Las Vegas Sands (NYSE: LVS) narrowed fourth quarter losses but investors were disappointed that results failed to top estimates. 

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 624.

Upbeat earnings news along with a better than expected increase in home construction lifted the markets to a higher close with the Dow climbing 40 points to 10,309. Nasdaq gained 12 points to 2226.

 

On the upside

Immunomedics (Nasdaq: IMMU) received a patent for its human antibody treatment.

A surge in revenue helped Ultra Clean (Nasdaq: UCTT) swing to a fourth quarter profit.

Dollar Thrifty Automotive Group (Nasdaq: DTG) reversed year ago losses to post a stronger than expected profit for the fourth quarter.

On the downside

PositiveID (Nasdaq: PSID) expanded its non-invasive glucose testing products and diabetes management tools by acquiring the intellectual property rights and assets of Easy Check Medical Diagnostics.

Investors locked in profits on Rogers Communications (NYSE: RCI) after the company swung to a profit for the fourth quarter. The stock price rose last week in anticipation of its earnings release.

RSC Holdings (NYSE: RRR) blamed sharply lower revenue for swinging to a fourth quarter loss. 

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 624.

A better than expected increase in January new home construction lifted the markets during the midday with the Dow gaining 28 points to 10,296. Nasdaq rose 7 points to 2221.

 

On the upside

Cyclacel Pharmaceuticals (Nasdaq: CYCC) that its seliciclib was effective in treating breast cancer that had become resistant to hormone therapy.

Discovery Communications (Nasdaq: DISCA) will replace Pepsi Bottling Group on the S&P 500 index after PepsiCo completes its acquisition of Pepsi Bottling.

Pacer International (Nasdaq: PACR) reversed year ago losses to post a better than expected profit for the fourth quarter.

On the downside

Masimo (Nasdaq: MASI) swung to a fourth quarter profit as revenue rose but the stock price fell as investors locked in profits. Shares of the medical technology company rose last week ahead of its earnings release.

Nova Measuring Instruments (Nasdaq: NVMI) reversed year ago losses to post a profit. Investors anticipated the upbeat results and sold off on the stock to lock in profits.

Inverness Medical Innovations (NYSE: IMA) disappointed by swinging to a fourth quarter loss. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 623.

January home construction posted a better than expected gain to lift the markets to a higher open with the Dow rising 31 points to 10,300. Nasdaq added 8 points to 2223.

 

On the upside

La-Z-Boy (NYSE: LZB) reversed year ago losses to post a greater than expected profit for the third quarter.

Whole Foods Market (Nasdaq: WFMI) impressed with higher first quarter earnings that beat expectations and lifted its full year outlook prompting an upgrade.

First quarter earnings for Deere & Co. (NYSE: DE) rose to surpass analyst estimates and the company raised its 2010 forecast.

On the downside

While Owens Corning (NYSE: OC) narrowed losses for the fourth quarter, the results fell short of expectations.

GSI Commerce (Nasdaq: GSIC) announced that a shareholder will sell all of its holdings in GSI, approximately 9.2 million common shares.

While fourth quarter earnings for FMC Technologies (NYSE: FTI) rose, the company reported that its backlog shrank. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 623.

Improving Earnings Boosts Markets

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The markets closed sharply higher with the Dow leaping 169 points to 10,268 over improving corporate earnings. Nasdaq surged 30 points to 2214.

 

On the upside

Sequenom (Nasdaq: SQNM) introduced its test to determine the gender of a fetus using its SEQureDx technology.

Office Depot (NYSE: ODP) will now offer Verizon Wireless Mobile Broadband Solutions for consumers and small businesses.

DG FastChannel (Nasdaq: DGIT) impressed with fourth quarter earning that surged to top estimates.

On the downside

CBIZ (NYSE: CBZ) reported lower fourth quarter earnings that fell short of expectations as expenses climbed.

Shares of EnerNOC (Nasdaq: ENOC) fell after widening fourth quarter losses last week.

Pinnacle Airlines (Nasdaq: PNCL) repaid the remainder of 3.25% senior convertible notes due in 2025. 

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 620.

An index of homebuilder confidence rose in February to lift the markets higher during the midday with the Dow soaring 124 points to 10,224. Nasdaq climbed 22 points to 2205.

 

On the upside

China Precision Steel (Nasdaq: CPSL) swung to a profit for the second quarter as revenue surged.

Motorola (NYSE: MOT) won a second contract from Taiwan's First International Telecom to launch a WiMAX network in northern Taiwan.

US Airways (NYSE: LCC) reported that flights in December were on time 75.2% of the time.

On the downside

Needham downgraded STEC (Nasdaq: STEC) from Strong Buy to Hold.

AstraZeneca (NYSE: AZN) will pay Rigel Pharmaceuticals (Nasdaq: RIGL) $100 million upfront for the development and marketing rights to the potential rheumatoid arthritis drug fostamatinib disodium with an additional $1.145 billion in potential milestone and sales payments. The deal must first be approved by regulators.

While fourth quarter earnings for Kraft Foods (NYSE: KFT) surged, revenue fell short of expectations. 

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 616.

Upbeat corporate earnings lifted the markets to a higher open with the Dow climbing 110 points to 10,209 while Nasdaq gained 21 points to 2205.

 

On the upside

Morgan Keegan upgraded Synovus Financial (NYSE: SNV).

Terra Industries (NYSE: TRA) agreed to be acquired by Yara for approximately $4.1 billion in cash to form the world's largest fertilizer producer.

Barclays (NYSE: BCS) reported fourth quarter earnings that surged more than tenfold beating analyst expectations.

On the downside

PMI (NYSE: PMI) disappointed with a much wider than expected loss for the fourth quarter.

Shares of Compellent Technologies (NYSE: CML) continued to fall after reporting fourth quarter earnings that fell short of expectations last week.

General Cable (NYSE: BGC) stock continued falling after swinging to a fourth quarter loss. 

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 613.

U. S. Markets Closed

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U. S. markets are closed in observance of the Presidents' Day holiday.
Investors sold off on China's decision to increase bank reserve requirements but remained optimistic that the European Union will create a successful assistance program for financially strapped nations. The markets closed mixed with the Dow falling 45 points to 10,099 while Nasdaq rose 6 points to 2183.

 

On the upside

Macworld 2010 Exposition selected Microvision's (Nasdaq: MVIS) SHOWWX laser pico projector for the Best of Show award.

NASA's Solar Dynamics Observatory satellite that was launched yesterday uses GenCorp's (NYSE: GY) Aerojet 100 lbf bipropellant apogee engine.

Airlines posted their best on-time arrival rate in six years to lift shares of US Airways (NYSE: LCC).

On the downside

Fourth quarter investment income for Hercules Technology Growth Capital (Nasdaq: HTGC) fell and the company announced a $35 million stock repurchase plan.

While fourth quarter earnings and revenue rose for eHealth (Nasdaq: EHTH), the results missed expectations.

Group 1 Automotive (NYSE: GPI) narrowed losses for the fourth quarter but still fell short of estimates. 

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 610.

China lifted its bank reserve requirements for the second time within one month fueling fears that the stricter monetary policy will lengthen the global economic recovery. The markets pared early morning losses during the midday but continued  trading lower with the Dow tumbling 96 points to 10,048. Nasdaq lost 6 points to 2171.

 

On the upside

Rovi (Nasdaq: ROVI) swung to a greater than expected profit as revenue rose.

Office Depot (NYSE: ODP) was named by The Women's Business Enterprise National Council as one of America's Top Corporations for Women's Business Enterprises for the ninth consecutive year.

Radian Group (NYSE: RDN) declared a regular quarterly dividend of $0.0025 per common share payable on March 4, 2010 to shareholders of record February 22, 2010.

On the downside

Buffalo Wild Wings (Nasdaq: BWLD) reported higher fourth quarter earnings as revenue rose but the results fell short of expectations.

Compellent (NYSE: CML) disappointed with flat fourth quarter earnings that missed estimates prompting a downgrade.

General Cable (NYSE: BGC) blamed charges for swinging to a fourth quarter loss. 

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 605.

Investors concerned that China's second move in a month to tighten its monetary policy will dampen the global economic recovery sent the markets tumbling to a sharply lower open with the Dow plunging 124 points to 10,019. Nasdaq fell 16 points to 2160.

 

On the upside

Private equity firms Berkshire Partners, Advent International and Bain Capital offered approximately $1.1 billion in cash to acquire SkillSoft (Nasdaq: SKIL).

Motorola (NYSE: MOT) announced that it will separate into two companies in 2011, one focused on consumers while the other will target business clients.

Oppenheimer analyst Brian Nagel upgraded Pier 1 Imports (NYSE: PIR) and lifted his price target on the home accessories retailer saying that sales are improving.

On the downside

Labopharm (Nasdaq: DDSS) priced its offering of approximately 11.7 million units at $1.70 per unit with each unit composed of one common share and a warrant to purchase half a common share.

Senomyx (NYSE: SNMX) priced its offering of over 7.1 million common shares at $2.80 per share.

While Ingersoll-Rand (NYSE: IR) reversed year ago losses for the fourth quarter, the results fell short of analyst estimates and the manufacturer forecast disappointing first quarter earnings that missed expectations by a wide margin. 

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 599.

The European Union's bailout of Greece eased investor fears of a default sending the markets soaring to a sharply higher close with the Dow leaping 105 points to 10,144. Nasdaq jumped 29 points to 2177.

 

On the upside

Shares of MGM Mirage (NYSE: MGM) rose ahead of its earnings release next week.

Tekelec (Nasdaq: TKLC) reported higher fourth quarter earnings that topped analyst expectations and forecast full year income ahead of estimates.

Fourth quarter earnings slipped for Geeknet (Nasdaq: LNUX) but revenue surged.

On the downside

Fourth quarter earnings for TradeStation Group (Nasdaq: TRAD) plummeted due to lower commissions and fees and the company forecast current quarter income below expectations.

Administaff (NYSE: ASF) blamed greater than expected health care expenses for swinging to a fourth quarter loss.

Although Ecolab (NYSE: ECL) reported higher fourth quarter income, the results fell short of expectations. 

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 surged 9 points to 605.

A larger than expected drop in initial applications for unemployment benefits boosted the markets during the midday with the Dow soaring 111 points to 10,149. Nasdaq surged 28 points to 2176.

 

On the upside

LeapFrog (NYSE: LF) impressed by swinging to a greater than expected profit for the fourth quarter as sales surged and expects significant growth in sales and earnings in 2010.

Lennar (NYSE: LEN) completed transactions with the Federal Deposit Insurance Corp. to resolve approximately 5,500 distressed residential and commercial loans.

ReneSola (NYSE: SOL) landed a contract to provide 600 megawatts of solar modules over three years to a solar company.

On the downside

While Amkor Technology (Nasdaq: AMKR) swung to a profit for the fourth quarter, the company warned of a sequential drop in first quarter revenue.

FLIR Systems (Nasdaq: FLIR) disappointed with lower fourth quarter earnings and forecast 2010 results below expectations.

Schweitzer-Mauduit International (NYSE: SWM) swung to a fourth quarter profit as sales rose but the paper and tobacco products company also announced a patent infringement lawsuit against four companies. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 601.

Investors sent the markets down to a lower open with the Dow losing 18 points to 10,019 as few details emerged on the rescue plan for Greece. Nasdaq slipped 4 points to 2143.

 

On the upside

JA Solar Holdings (Nasdaq: JASO) swung to a greater than expected profit for the fourth quarter as revenue surged and lifted its shipment outlook for the full year.

While Activision (Nasdaq: ATVI) widened fourth quarter losses, the results topped estimates due to strong sales of its "Call Of Duty: Modern Warfare 2" game. The company also announced a new annual dividend of 15 cents per share and a plan to repurchase up to $1 billion worth of stock.

FirstEnergy (NYSE: FE) will acquire Allegheny Energy (NYSE: AYE) in an all stock deal valued at approximately $4.7 billion to create a new company with over 6 million customers and $16 million in revenue each year.

On the downside

Alcatel-Lucent (NYSE: ALU) posted a modest profit for the fourth quarter but revenue fell and the telecommunications company tempered expectations for its turnaround plan.

Boston Scientific (NYSE: BSX) reported a loss for the fourth quarter and announced restructuring plans that include the elimination of up to 1,300 jobs.

Masco (NYSE: MAS) narrowed fourth quarter losses but revenue fell. 

In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by a margin of nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 594.

Comments by Federal Reserve Chairman Ben Bernanke that suggested a possible increase in interest rates sent the markets down to a moderately lower close with the Dow falling 20 points to 10,038. Nasdaq lost 3 points to 2147.

 

On the upside

OpenTable (Nasdaq: OPEN) impressed by swinging to a strong profit for the fourth quarter as reservations surged by 40%.

Capstone Turbine (Nasdaq: CPST) narrowed third quarter losses as the company reported record revenue.

American International Group (NYSE: AIG) introduced a new ranking system to determine incentive payments to employees.

On the downside

Fourth quarter earnings for The New York Times (NYSE: NYT) surged threefold to beat expectations but revenue continued to fall and the newspaper warned that print advertising will decline further.

EOG Resources (NYSE: EOG) reported lower fourth quarter earnings that fell short of expectations.

The Department of Transportation tentatively approved a plan by Delta Air Lines (NYSE: DAL) and US Airways (NYSE: LCC) to swap slots at LaGuardia and Ronald Reagan Washington National provided the two airlines sell some slots to rivals with limited or no service to those two airports. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 595.

Uncertainty about Germany's role in a possible bailout for Greece sent the markets lower during the midday with the Dow losing 10 points to 10,048. Nasdaq slipped a point to 2149.

 

On the upside

NetGear (Nasdaq: NTGR) reversed year ago losses to post a stronger than expected profit as market share increased. The networking products maker also forecast first quarter results ahead of estimates.

Affiliated Managers Group (NYSE: AMG) will pay approximately $775 million in cash to acquire private equity firm Pantheon Ventures.

Legg Mason (NYSE: LM) reported that its assets under management dipped slightly in January due to Standard & Poor's 3.7% drop.

On the downside

Level 3 Communications (Nasdaq: LVLT) disappointed with a wider than expected loss for the fourth quarter.

Dean Foods (NYSE: DF) blamed greater operating expenses for sharply lower fourth quarter earnings and warned of a challenging first quarter.

ArcelorMittal (NYSE: MT) reversed year ago losses to report a fourth quarter profit but revenue fell and the steelmaker said that conditions in 2010 remain challenging. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 594.

The nation's trade deficit leaped by a larger than expected $40.18 billion in December to weigh down the markets to a lower open with the Dow falling 89 points to 9969. Nasdaq lost 18 points to 2131.

 

On the upside

Athersys (Nasdaq: ATHX) was granted a patent for the isolation and expansion of non-embryonic multipotent stem cells.

Fourth quarter earnings for Baidu (Nasdaq: BIDU) surged to beat expectations as revenue soared.

Correction Corp. of America (NYSE: CXW) reported higher fourth quarter earnings the topped estimates as a greater inmante population boosted revenue.

On the downside

Genzyme (Nasdaq: GENZ) and Isis Pharmaceuticals (Nasdaq: ISIS) reported that phase 3 clinical trial of their cholesterol treatment mipomersen met study goals but the stock prices fell.

Micron Technology (Nasdaq: MU) will acquire rival Numonyx in an all stock deal valued at approximately $1.27 billion.

While Sprint (NYSE: S) narrowed fourth quarter losses, the results missed expectations. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 587.

Growing optimism that the European Union will provide financial assistance to debt laden Greece sent the markets soaring to a sharply higher close with the Dow leaping 150 points to 10,058. Nasdaq climbed 24 points to 2150.

 

On the upside

Motley Fool spotlighted Oncolytics Biotech (Nasdaq: ONCY) as a stock that is gaining momentum.

Heckmann (NYSE: HEK) entered a partnership with Energy Transfer Partners (NYSE: ETP) to provide turnkey solutions for discharged waters generated from the natural gas developments at the Marcellus and Haynesville Shale.

While Compass Minerals (NYSE: CMP) reported lower fourth quarter earnings, the company posted a record full year profit.

On the downside

Conn's (Nasdaq: CONN) disappointed with sharply lower fourth quarter earnings that fell short of estimates as revenue plunged amidst the difficult economic environment.

Terremark Worldwide (Nasdaq: TMRK) narrowed third quarter losses but the results missed expectations.

Shares of Williams Coal Seam Gas Royalty Trust (NYSE: WTU) continued to fall after announcing Friday that the trust will terminate on March 1, 2010. 

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 595.

The markets continued to advance during the midday with the Dow surging 179 points to 10,087 over reports that Germany is drafting a financial assistance plan for Greece. Nasdaq gained 25 points to 2151.

 

On the upside

ADC Telecommunications (Nasdaq: ADCT) reported a narrower than expected loss for the first quarter.

Harman International Industries (NYSE: HAR) reversed year ago losses to post a better than expected profit for the second quarter.

News that Germany was crafting a rescue plan for Greece lifted shares of National Bank of Greece (NYSE: NBG).

On the downside

Trident Microsystems (Nasdaq: TRID) blamed a large pre-production inventory write-off for widening quarterly losses.

Atmel (Nasdaq: ATML) widened fourth quarter losses due to write-downs.

Fourth quarter funds from operations plunged for Parkway Properties (NYSE: PKY) due to write-downs. The real estate investment trust also lowered its annual dividend. 

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 7 points to 594.

Investor optimism that the European Union will provide financial assistance to Greece lifted the markets to a higher open with the Dow soaring 131 points to 10,039. Nasdaq climbed 21 points to 2147.

 

On the upside

United Airlines parent UAL (Nasdaq: UAUA) reported higher January unit revenue and traffic.

Diversified Realty (NYSE: DDR) priced its offering of more than 37 million shares of common stock at $8.16 per share.

Japan Airlines rejected overtures by Delta (NYSE: DAL) to switch alliances to SkyTeam and will continue its partnership with American Airlines (NYSE: AMR) through Oneworld.

On the downside

While Electronic Arts (Nasdaq: ERTS) narrowed third quarter losses, the video game publisher forecast current quarter results well below analyst estimates prompting a downgrade.

Toreador Resources (Nasdaq: TRGL) priced its offering of 3 million common shares at $8.50 per share.

Energy Conversion Devices (Nasdaq: ENER) swung to a wider than expected loss for the second quarter a sales tumbled.

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 gained 5 points to 591.

The Dow tumbled 103 points to 9908, closing below the 10,000 mark for the first time in three months, over concerns about growing debt loads in Europe. Nasdaq dropped 15 points to 2126.

 

On the upside

TheStreet.com wrote that The Phoenix Co.'s (NYSE: PNX) stock price was 45% lower than the consensus among analysts.

Both Carl Reichardt of Wells Fargo Securities and Michael Rehaut of J. P. Morgan ranked MDC (NYSE: MDC) a five star stock.

China Fire & Security (Nasdaq: CFSG) secured a $92 million contract to retrofit Wuhan Iron and Steel for fire protection.

On the downside

Oracle (Nasdaq: ORCL) will purchase AmberPoint for an undisclosed sum.

Wells Fargo (NYSE: WFG) announced that it will hire 1,000 brokers this year and train 400 new recruits.

U. S. District Judge Jed Rakoff will wait for Bank of America (NYSE: BAC) and the Securities and Exchange Commission to submit written responses to questions before ruling on a proposed $150 million settlement over a civil suit alleging that Bank of America misled shareholders.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 586.

Despite upbeat earnings news, the markets traded mixed during the midday with the Dow losing 22 points to 9989 over continued concerns about European debt and extended global economic malaise. Nasdaq added a point to 2143.

 

On the upside

Borders Group (NYSE: BGP) majority shareholders William Ackerman said that it was very unlikely for the bookstore operator to file for bankruptcy.

MBIA (NYSE: MBI) restructured its Cutwater Asset Management subsidiary.

Electronic Products selected Vishay Technology's (NYSE: VSH) Bulk Metal Foil resistor as Product of the Year.

On the downside

Novavax (Nasdaq: NVAX) and Spanish pharmaceutical ROVI ended discussions after failing to agree on the terms of their partnership.

Shares of National Bank of Greece (NYSE: NBG) continued falling over default concerns.

Williams Coal Seam Gas Royalty Trust (NYSE: WTU) announced Friday after market close that the Trust will terminate March 1, 2010.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 593.

Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.

 

On the upside

CVS Caremark (NYSE: CVS) reported higher fourth quarter earnings that topped analyst estimates.

A weekend Barron's article said that if Motorola (NYSE: MOT) spun off its cellphone business, the company's stock could soar 40%.

Fourth quarter earnings for Hasbro (NYSE: HAS) climbed to beat expectations on higher sales.

On the downside

The Food and Drug Administration will select an advisory panel to review Cell Therapeutics' (Nasdaq: CTIC) lymphoma treatment pixantrone due to safety concerns.

Seanergy Maritime (Nasdaq: SHIP) terminated its agreement to acquire a 2009 Capesize vessel.

A newspaper article reported that LLoyds Banking (NYSE: LYG) is in discussions to sell its Integrated Finance unit.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 592.

Mixed jobs data sparked a volatile day of trading sending the Dow tumbling below the 10,000 mark before recovering in the late afternoon to close with the blue chip index gaining 10 points to 10,012. Nasdaq climbed 15 points to 2141.

 

On the upside

Hawaiian Airlines (Nasdaq: HA) reported higher traffic, occupancy and miles flown in January.

Goldcorp (NYSE: GG) completed its acquisition of Canplats Resources, which includes the significant gold and silver resources of the Camino Rojo project.

Although fourth quarter earnings tumbled for Baldor Electric (NYSE: BEZ), the electrical equipment maker forecast first quarter sales above estimates.

On the downside

NetSuite (NYSE: N) widened fourth quarter losses.

The McClatchy Company (NYSE: MNI) priced its $875 million bond offering at very high interest rates.

Although TTM Technologies (Nasdaq: TTMI) reversed year ago losses, the results fell short of expectations and the company forecast disappointing first quarter results.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 592.

Greater than expected job losses in January weighed down the markets during the midday with the Dow dropping 53 points to 9949. Nasdaq slipped 2 points to 2122.

 

On the upside

Second quarter earnings for Bebe Stores (Nasdaq: BEBE) tumbled but the results topped analyst estimates.

US Airways (NYSE: LCC) waived change fees for passengers affected by storms in the mid-Atlantic region.

Credit Suisse analyst Satya Kumar upgraded MEMC Electronic Materials (NYSE: WFR).

On the downside

Powerwave Technologies (Nasdaq: PWAV) disappointed with lower fourth quarter revenue and earnings that fell short of expectations.

Brooks Automation (Nasdaq: BRKS) reported a first quarter loss that was wider than expected.

American Axle & Manufacturing (NYSE: AXL) reversed year ago losses to post a profit for the fourth quarter but the company forecast full year revenue below analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 587.

Despite an unexpected loss of 20,000 jobs in January, the unemployement rate dropped to 9.7%, the lowest level in five months. The markets opened lower with the Dow falling 49 points to 9952 while Nasdaq lost 7 points to 2117.

 

On the upside

Air Products and Chemicals (NYSE: APD) offered approximately $5.1 billion in cash to acquire Airgas (NYSE: ARG).

Tyson Foods (NYSE: TSN) reversed year ago losses to post a greater than expected profit for the first quarter as revenue rose.

Fourth quarter earnings for Power-One (Nasdaq: PWER) more than doubled as sales climbed.

On the downside

Phase Forward (Nasdaq: PFWD) blamed impairment charges for swinging to a fourth quarter loss.

While Corning (NYSE: GLW) said that sales of liquid crystal display televisions, laptops and handheld devices are expected to be strong in 2010, the company failed to offer a full year outlook.

NIC (Nasdaq: EGOV) disappointed with lower fourth quarter earnings that fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 585.

Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125.

 

On the upside

THQ (Nasdaq: THQI) reversed year ago losses to post a third quarter profit and forecast fourth quarter results ahead of estimates.

Kulicke & Soffa Industries (Nasdaq: KLIC) reported first quarter results that surpassed expectations by a wide margin and forecast second quarter revenue above estimates.

Third quarter earnings nearly doubled for 99 Cents Only Stores (NYSE: NDN).

On the downside

Penn National Gaming (Nasdaq: PENN) narrowed fourth quarter losses but forecast first quarter and full year results below expectations.

Caisse de Depot sold over $10 million worth of Patriot Coal (NYSE: PCX) stock.

Standard Pacific (NYSE: SPF) posted profit for the fourth quarter but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by a margin of nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 589.

Concerns about European fiscal health sank the markets during the midday with the Dow skidding 215 points to 10,055. Nasdaq plunged 52 points to 2138.

 

On the upside

Second quarter earnings leaped for Open Text (Nasdaq: OTEX) to beat expectations as revenue grew and the company cut costs.

Joe's Jeans (Nasdaq: JOEZ) reported sharply higher fourth quarter earnings that topped estimates as sales surged.

Unisys (NYSE: UIS) reversed year ago losses to post a better than expected profit for the fourth quarter. The company announced the sale of its check and cash automation unit. Also, the company won a three year contract valued at approximately $32 million.

On the downside

While fourth quarter earnings edged up for Double-Take Software (Nasdaq: DBTK), revenue dropped to fall short of estimates and the company forecast disappointing first quarter as well as full year results.

SummerStreet Research Partners analyst Carol Werther downgraded AMAG Pharmaceuticals (Nasdaq: AMAG) citing possible severe allergic reactions in kidney disease patients to the company's iron replacement drug Feraheme.

While United Rentals (NYSE: URI) narrowed fourth quarter losses, the results missed estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by a margin of nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 594.

Initial applications for unemployment benefits unexpectedly climbed last week to weigh down the markets to a lower open with the Dow plunging 145 points to 10,124. Nasdaq plummeted 33 points to 2157.

 

On the upside

Roth Capital initiated coverage of Cyclacel Pharmaceuticals (Nasdaq: CYCC) with a Buy rating.

Affymetrix (Nasdaq: AFFX) reversed year ago losses to post an unexpected profit for the fourth quarter as revenue rose.

January same store sales rose a greater than expected 5% for Gap (NYSE: GPS).

On the downside

Monster Worldwide (NYSE: MWW) blamed the dismal job market for swinging to a loss for the fourth quarter. The job search site also announced a $225 million all cash purchase of Yahoo's HotJobs.

MEMC Electronic Materials (NYSE: WFR) swung to a fourth quarter loss.

Although fourth quarter earnngs for Spirit AeroSystems (NYSE: SPR) more than doubled, the results fell far short of estimates.

In the broad market, declining issues edged out advancers by a margin of nearly 6 to 1 on the NYSE and by a margin of nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 602.

While job losses were less than expected last month, expansion in the services sector disappointed. The markets closed lower with the Dow losing 26 points to 10,270. Nasdaq added a fraction to 2190.

 

On the upside

NetLogic Microsystems (Nasdaq: NETL) posted better than expected fourth quarter results and forecast first quarter earnings ahead of expectations prompting upgrades.

ZAGG (Nasdaq: ZAGG) has begun accepting invisibleSHIELD pre-orders for the Apple iPad.

Shares of Somaxon Pharmaceuticals (NYSE: SOMX) surged in anticipation of early regulatory approval for the company's insomnnia medication.

On the downside

Analysts cited Alliance Data Systems' (NYSE: ADS) disappointing outlook for cutting their price targets for the credit card processor.

Toyota Motor (NYSE: TM) will send all dealerships in the United States $75,000 to assist with the recall and repair of 2.3 million vehicles.

Polo Ralph Lauren (NYSE: RL) reported higher third quarter earnings that topped estimates but revenue fell and the company warned expenses related to expansion of its Asian operations will hurt fourth quarter results.

In the broad market, declining issues edged out advancers by a margin of more than 5 to 3 on the NYSE and by a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 610.

Service activity edged up less than expected in January to dampen investor enthusiasm. The markets traded flat during the midday with the Dow slipping 3 points to 10,293 while Nasdaq added a point to 2191.

 

On the upside

The Food and Drug Administration approved Auxilium Pharmaceuticals' (Nasdaq: AUXL) Xiaflex for treating Dupuytren's contracture, a progressive condition that constricts the fingers.

Brean Murray upgraded Lexmark (NYSE: LXK) after the printing and imaging solutions company reported better than expected earnings yesterday.

Mueller Water Products (NYSE: MWA) narrowed first quarter losses.

On the downside

PSS World Medical (Nasdaq: PSSI) announced the immediate departure of president and chief executive David Smith with chief operating officer Gary Corless stepping in to Smith's roles.

Howard Weil downgraded ATP Oil & Gas (Nasdaq: ATPG).

While fourth quarter earnings rose for Quest Software (NYSE: QSFT), revenue slipped.

In the broad market, declining issues edged out advancers by a margin of more than 5 to 3 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 609.

The markets opened flat with the Dow slipping 3 points to 10,293 while Nasdaq added a fraction to 2190. The nation's services sector posted a modest gain in January.

 

On the upside

Home Diagnostics (Nasdaq: HDIX) will be acquired by Japanese medical device maker Nipro for approximately $215 million.

The Food and Drug Administration approved Labopharm's (Nasdaq: DDSS) once-a-day antidepressant Oleptro Extended Release Tablets.

Fourth quarter earnings for Acme Packet (Nasdaq: APKT) more than doubled due to its acquisition of Covergence last year.

On the downside

Exide Technologies (Nasdaq: XIDE) reported lower third quarter earnings as sales fell.

VeriSign (Nasdaq: VRSN) reported lower fourth quarter income that fell short of estimates.

Fourth quarter earnings for Western Union (NYSE: WU) slipped.

In the broad market, declining issues edged out advancers by a margin of more than 10 to 9 on the NYSE while advancers outpaced decliners by a margin of nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 615.

The markets soared to close higher with the Dow surging 111 points to 10,296 as a gain in pending home sales signalled a possible recovery to the devastated housing market. Nasdaq climbed 18 points to 2190.

 

On the upside

Ivanhoe Energy's (Nasdaq: IVAN) first appraisal well in Ecuador reached total depth with physical testing beginning this week.

Focus Holding Media (Nasdaq: FMCN) will repurchase up to $200 million worth of American depositary shares.

Third quarter earnings for Steris (NYSE: STE) surged as revenue rose to surpass expectations and the medical products maker cut expenses.

On the downside

Silicon Motion Technology (Nasdaq: SIMO) blamed sharply lower revenue for widening fourth quarter losses.

DST Systems (NYSE: DST) reported lower fourth quarter earnings that fell short of estimates and announced the elimination of approximately 760 positions.

Cedar Shopping Centers (NYSE: CDR) will offer 7.5 million common shares in order to raise approximately $47 million through a public offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 614.

Pending home sales rose in December to lift investor sentiment along with the markets during the midday with the Dow climbing 86 points to 10,272. Nasdaq gained 13 points to 2184.

 

On the upside

An article in the Journal of the National Cancer Institute reviewed the role of hypothermia in cancer treatments saying that adding hypothermia to chemotherapy improved survival rates. BSD Medical's (Nasdaq: BSDM) BSD 2000 Deep Regional Hyperthermia System was used by all institutions participating in the study.

Ann Taylor (NYSE: ANN) announced that fourth quarter earnings will top estimates and far outpace last year's results.

D. R. Horton (NYSE: DHI) reported its first quarterly profit in nearly three years.

On the downside

American Superconductor (Nasdaq: AMSC) reversed year ago losses to post a third quarter profit as revenue surged. The stock price dropped as investors, who had anticipated the wind turbine company to beat expectations, locked in profits.

MannKind (Nasdaq: MNKD) narrowed fourth quarter losses but still fell short of estimates.

Patriot Coal (NYSE: PCX) blamed a significant charges for fourth quarter earnings that plunged.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 613.

The markets opened mixed with the Dow adding 6 points to 10,192 while Nasdaq slipped 4 points to 2167. Investors embraced upbeat corporate earnings and await the December pending home sales report.

 

On the upside

Comsys IT Partners (Nasdaq: CITP) will be acquired by Manpower (NYSE: MAN) in a deal valued at approximately $431 million.

Compugen (Nasdaq: CGEN) discovered a treatment for autoimmune disorders, CGEN-15001.

Fourth quarter earnings more than tripled for Lexmark International (NYSE: LXK) to beat expectations by a wide margin as the printing and imaging solutions company cut costs.

On the downside

Dow Chemical (NYSE: DOW) swung to a better than expected profit but investors were disappointed with weak sales in the United States and Europe.

While Suncor (NYSE: SU) reversed year ago losses to post a fourth quarter profit, the results fell far short of expectations.

First BanCorp (NYSE: FBP) swung to a fourth quarter loss as loan loss provisions surged.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 609.

Manufacturing activity posted its strongest month in nearly six years sending the markets up to a sharply higher close with the Dow soaring 118 points to 10,185. Nasdaq leaped 23 points to 2171. 

 

On the upside

Leap Wireless (Nasdaq: LEAP) is exploring strategic options including the sale of the company or a merger with one of its competitors.

Callon Petroleum (NYSE: CPE) completed a $100 million credit agreement with Regions Bank.

Deutsche Bank analyst Rod Lache upgraded Autoliv (NYSE: ALV) citing the company's higher than expected fourth quarter earnings and upbeat forecast.

On the downside

Smithtown Bancorp (Nasdaq: SMTB) swung to a fourth quarter loss as loan loss provisions soared.

While Haemonetics (NYSE: HAE) reported higher third quarter earnings, the results fell short of estimates and the company announced an all cash $60 million deal to acquire Global Med Technologies.

B. Riley & Co. downgraded Central Pacific Financial (NYSE: CPF) after the company reported significant fourth quarter as well as full year losses last week.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 609.

Strong growth in manufacturing activity sent the markets soaring during the midday with the Dow surging 104 points to 10,172. Nasdaq climbed 17 points to 2164. 

 

On the upside

Bank of Florida (Nasdaq: BOFL) widened fourth quarter losses as loan loss provisions nearly doubled but the stock price rose.

Gaming revenue in Macau surged 63.3% in January to lift shares of Las Vega Sands (NYSE: LVS).

Brazilian sugar company Cosan (NYSE: CZZ) will partner with Shell to produce ethanol.

On the downside

Art Technology Group (Nasdaq: ARTG) will offer 25 million common shares in order to raise capital.

Fourth quarter earnings for MDU Resources (NYSE: MDU) slipped and the natural resource company forecast 2010 results below expectations.

Citigroup downgraded Lubrizol (NYSE: LZ) to a Sell rating.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 607.

A greater than expected gain in December personal incomes llifted the markets to a higher open with the Dow climbing 72 points to 10,140. Nasdaq rose 9 points to 2156. 

 

On the upside

Conolog (Nasdaq: CNLG) received advanced orders for 280 of its PDR systems and other equipment valued at over $1.9 million.

Newscorp (Nasdaq: NWSA) will pay Valassis Communications (NYSE: VCI) $500 million to settle an antitrust suit.h

Drilling at InterOil's (NYSE: IOC) Antelope-2 well has reached total vertical depth and preparations have begun to drill a horizontal extenion.

On the downside

Morgan Stanley downgraded Warner Chilcott (Nasdaq: WCRX).

While Gannett (NYSE: GCI) reversed year ago losses to post a profit for the fourth quarter, advertising revenue tumbled.

Fourth quarter earnings for Humana (NYSE: HUM) surged due to higher Medicare Advantage business but the health insurer forecast 2010 results below expectations.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 605.

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