April 2010 Archives

The Justice Department launched a criminal investigation into Goldman Sachs sending the markets tumbling to a sharply lower close with the Dow plunging 158 points to 11,008. Nasdaq plummeted 50 points to 2461.

On the upside

First quarter earnings for ResMed (NYSE: RMD) rose to beat expectations on higher revenue.

Dolby (NYSE: DLB) reported higher second quarter earnings that surpassed analyst expectations and lifted its full year guidance.

Ruddick (NYSE: RDK) reported second quarter earnings that rose as revenue increased.

On the downside

Federal Signal (NYSE: FSS) swung to an unexpected loss for the first quarter as sales fell.

First quarter earnings for PHH (NYSE: PHH) rose but revenue dropped.

Intermec (NYSE: IN) disappointed with a loss for the first quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 21 points to 716.

A possible criminal investigation into Goldman Sachs sent the markets lower during the midday with the Dow falling 84 points to 11,082. Nasdaq dropped 30 points to 2481.

On the upside

Power-One (Nasdaq: PWER) reversed year ago losses to post a better than expected profit for the first quarter as revenue surged.

Acme Packet (Nasdaq: APKT) reported sharply higher first quarter earnings that surpassed analyst expectations as revenue soared prompting the company to lift its full year outlook.

First quarter earnings for Thoratec (Nasdaq: THOR) more than doubled to top estimates on strong sales.

On the downside

McAfee (NYSE: MFE) blamed charges for lower first quarter earnings that missed estimatesa and warned that second quarter earnings would disappoint.

FBR Capital Markets downgraded Transocean (NYSE: RIG) after a class action lawsuit was filed against the company for the fire on its Deep Horizon rig last week that is now spilling approximately 5,000 barrels of oil into the Gulf of Mexico every day.

Analysts downgraded Goldman Sachs (NYSE: GS) citing the Securities and Exchange Commission's fraud suit and a possible criminal investigation.

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 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 10 points to 727.

A smaller than expected growth of the nation's economy during the first quarter weighed down the markets to a lower open with the Dow slipping 32 points to 11,134. Nasdaq lost 12 points to 2498.

On the upside

First quarter earnings for Coinstar (Nasdaq: CSTR) tripled to beat expectations by a wide margin as revenue surged prompting the company to lift its full year outlook.

Skyworks Solutions (Nasdaq: SWKS) swung to a second quarter profit that topped estimates and forecast third quarter results ahead of expectations.

D. R. Horton (NYSE: DHI) reversed year ago losses to post an unexpected profit for the second quarter.

On the downside

AthenaHealth (Nasdaq: ATHN) disappointed with lower first quarter earnings that fell short of expectations as expenses climbed.

QLogic (Nasdaq: QLGC) blamed a special tax charge for swinging to a fourth quarter loss.

Although first quarter revenue more than doubled for MEMC Electronic Materials (NYSE: WFR), the company disappointed with a loss.

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 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 737.
The markets surged to close sharply higher with the Dow leaping 122 points to 11,167 as jobless claims fell and earnings news improved. Nasdaq jumped 40 points to 2511.

On the upside

The Food and Drug Administration approved Dendreon's (Nasdaq: DNDN) prostate cancer vaccine Provenge.

Brunswick (NYSE: BC) narrowed first quarter losses more than expected as revenue rose.

iStar Financial (NYSE: SFI) reported narrower than expected losses for the first quarter.

On the downside

Openwave Systems (Nasdaq: OPWV) reported an unexpected loss for the third quarter as revenue fell.

Second quarter earnings for Green Mountain Coffee Roaster (NYSE: GMCR) surged but the company forecast third quarter results below estimates.

BP (NYSE: BP) said that the oil spill at the offshore Deepwater Horizon rig is costing approximately $6 million each day.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 15 points to 737.
Initial applications for unemployment benefits fell last week sending the markets soaring during the midday with the Dow surging 122 points to 11,167. Nasdaq leaped 27 points to 2499.

On the upside

Akamai Technologies (Nasdaq: AKAM) reported higher first quarter earnings that topped analyst estimates as revenue climbed.

GrafTech International (NYSE: GTI) reported better than expected first quarter earnings and announced that it will pay approximately $692 million to acquire Seadrift Coke LP and C/G Electrodes LLC.

First quarter earnings for First Solar (Nasdaq: FSLR) rose to surpass expectations and the solar module maker lifted its full year outlook prompting upgrades.

On the downside

Although Harman International (NYSE: HAR) reversed year ago losses to post a better than expected third quarter profit, the company forecast disappointing results for fiscal year 2013.

Eastman Kodak (NYSE: EK) swung to a profit for the first quarter but earnings fell short of expectations.

First quarter earnings for Cameron (NYSE: CAM) rose but revenue missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 728.
Strong corporate earnings news lifted the markets to a higher open with the Dow climbing 69 points to 11,114. Nasdaq rose 14 points to 2486.

On the upside

Hewlett-Packard (NYSE: HPQ) will pay approximately $1.4 billion to acquire struggling mobile device maker Palm (Nasdaq: PALM).

Medtronic (NYSE: MDT) agreed to purchase ATS Medical (Nasdaq: ATSI) for approximately $315.2 million in cash.

RAIT Financial Trust (NYSE: RAS) swung to a first quarter profit.

On the downside

Private equity firm Ford Financial Fund will purchase $500 million worth of Pacific Capital Bancorp (Nasdaq: PCBC) common stock at a steeply discounted 20 cents per share.

Sunesis Pharmaceuticals (Nasdaq: SNSS) posted a loss for the first quarter as revenue plunged.

E-Trade (Nasdaq: ETFC) priced its secondary offering of 172 million common shares at $1.75 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 726.
Standard & Poor's downgraded Spain's credit rating but the markets closed higher with the Dow rising 53 points to 11,045 after the Federal Reserve held interest rates steady at current record lows. Nasdaq added a fraction to 2471.

On the upside

First quarter earnings for Dow Chemical (NYSE: DOW) surged to beat analyst expectations by a wide margin as revenue soared.

Silicon Image (Nasdaq: SIMG) narrowed first quarter losses.

First quarter earnings for Olin (NYSE: OLN) plunged as sales dropped.

On the downside

JetBlue (Nasdaq: JBLU) blamed higher fuel expenses and inclement weather for reporting an unexpected loss for the first quarter.

PPL (NYSE: PPL) announced plans to pay $7 billion to acquire E.ON's U. S. business.

Rumors circulated yesterday that China Infrastructure Investment (Nasdaq: CIIC) may be acquired.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 722.
The markets traded modestly higher with the Dow gaining 53 points to 11,045 ahead of the Federal Reserve's interest rate decision. Nasdaq eased a fraction to 2470.

On the upside

Alcon Laboratories (NYSE: ACL) will pay Synergetics (Nasdaq: SURG) $32 million to license certain products and to settle all litigation between the two companies.

Integrated Silicon Solution (Nasdaq: ISSI) reversed year ago losses to post a profit for the second quarter.

US Airways (NYSE: LCC) narrowed first quarter losses more than expected as revenue rose.

On the downside

Hutchinson Technology (Nasdaq: HTCH) disappointed with a wider than expected loss for the second quarter.

AOL (NYSE: AOL) reported sharply lower first quarter earnings as revenue dropped to fall short of estimates and the company warned of continued weakness in advertising revenue.

Manitowoc (NYSE: MTW) reported a first quarter loss as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 722.
The markets opened flat with the Dow adding 4 points to 10,995 as Germany continues deliberations about Greece's bail out package. Nasdaq lost 5 points to 2466.

On the upside

RF Micro Devices (Nasdaq: RFMD) reversed year ago losses to post a better than expected profit for the fourth quarter.

Owens Cornings (NYSE: OC) swung to a first quarter profit that beat analyst expectations by a wide margin prompting the company to lift its full year guidance.

First quarter earnings for Invesco (NYSE: IVZ) tripled to top estimates.

On the downside

Oppenheimer downgraded Buffalo Wild Wings (Nasdaq: BWLD) after the casual restaurant chain reported weak same store sales.

Conexant Systems (Nasdaq: CNXT) reported disappointing second quarter earnings and forecast third quarter results below expectations.

First quarter earnings for Robert Half International (NYSE: RHI) slipped to fall short of expectations and the company forecast disappointing second quarter results.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 725.
Despite a sharper than expected jump in consumer confidence, the markets tumbled with the Dow slumping 213 points to drop below the 11,000 mark to close at 10,991 over European debt concerns. Nasdaq plummeted 51 points to 2471.

On the upside

Mindspeed Technologies (Nasdaq: MSPD) reported higher second quarter earnings.

DSW (NYSE: DSW) lifted its full year earnings outlook citing better than expected sales.

Winner Medical Group (Nasdaq: WWIN) will raise approximately $8 million through the sale of 1.4 million common shares.

On the downside

The Food and Drug Administration cited fourteen Cardiac Science (Nasdaq: CSCX) external defibrillator models for faulty components.

Frontier Financial (Nasdaq: FTBK) denied that Infinite Freedom Foundation offered to acquire the company.

Shares of National Bank of Greece (NYSE: NBG) tumbled after Standard & Poor's cut Greece's credit rating to junk status.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks skidded 17 points to 721.
Standard & Poor's downgraded the credit ratings of Greece and Portugal sending the markets tumbling during the midday with the Dow plummeting 127 points 11,077. Nasdaq plunged 35 points to 2487.

On the upside

Cirrus Logic (Nasdaq: CRUS) reversed year ago losses to post a better than expected profit for the fourth quarter.

First quarter earnings for Avery Dennison (NYSE: AVY) beat analyst estimates by a wide margin as revenue rose.

Hexcel (NYSE: HXL) reported greater than expected earnings for the first quarter.

On the downside

FormFactor (Nasdaq: FORM) widened first quarter losses.

While second quarter earnings rose for NBTY (NYSE: NTY), the results fell far short of analyst expectations.

Keefe, Bruyette & Woods downgraded American International Group (NYSE: AIG) to an Underperform rating.

In the broad market, declining issues outpaced advancers 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 dropped 11 points to 727.
Renewed concerns about Greece's ability to make upcoming debt payments weighed the markets down to a lower open with the Dow losing 14 points 11,190. Nasdaq fell 6 points to 2516.

On the upside

Tellabs (Nasdaq: TLAB) reported first quarter earnings that surged nearly sevenfold to beat expectations.

First quarter earnings for Western Union (NYSE: WU) slipped but revenue rose to top estimates.

US Airways (NYSE: LCC) narrowed first quarter losses more than expected as revenue rose.

On the downside

Sterling Financial (Nasdaq: STSA) widened first quarter losses and announced that Thomas H. Lee Partners will invest $134.7 million.

Office Depot (NYSE: ODP) swung to a first quarter profit but the results fell short of expectations.

Emulex (NYSE: ELX) reversed year ago losses to post a profit for the third quarter but revenue missed estimates and the company forecast fourth quarter results below expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 737.
It was a flat close for the markets with the Dow adding a fraction to 11,205 over concerns about the Congressional financial reform package. Nasdaq lost 7 points to 2522.

On the upside

First quarter earnings for Titan International (NYSE: TWI) slipped but the results topped analyst estimates.

Shares of Frontier Financial (Nasdaq: FTBK) surged to nearly double on no news.

Deutsche Bank upgraded RSC Holdings (NYSE: RRR) to a Buy rating.

On the downside

Keefe Bruyette downgraded Banner (Nasdaq: BANR) to an Underperform rating.

Although first quarter earnings for China Security & Surveillance Technology (NYSE: CSR) surged, revenue missed estimates.

Credit Suisse downgraded DeVry (NYSE: DV) citing job market improvements and possible changes in regulations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 738.
The markets traded higher with the Dow rising 28 points to 11,232 over better than expected corporate earnings news. Nasdaq eased a fraction to 2529.

On the upside

Thomas Weisel Partners Group (Nasdaq: TWPG) will be acquired by Stifel Financial (NYSE: SF) for approximately $300 million in stock.

The Food and Drug Adminstration cleared Digirad's  (Nasdaq: DRAD) portable imaging system for sale and marketing.

Charles River Laboratories (NYSE: CRL) will pay approximately $1.6 billion to acquire WuXi PharmaTech (NYSE: WX).

On the downside

PrivateBancorp (Nasdaq: PVTB) widened first quarter losses more than expected as loan loss provisions surged fourfold.

Capitol Bancorp (NYSE: CBC) will raise $7.5 million through a registered direct offering of 2.5 million common shares.

The Treasury Department announced that it will sell up to 1.5 billion shares of Citigroup (NYSE: C).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 742.
Upbeat earnings lifted the markets to a higher open with the Dow climbing 37 points to 11,242. Nasdaq added a point to 2531.

On the upside

Whirlpool (NYSE: WHR) impressed with first quarter earnings that more than doubled to beat analyst expectations by a wide margin prompting the appliance maker to raise its 2010 outlook.

Caterpillar (NYSE: CAT) reversed year ago losses to post a profit for the first quarter and lifted its full year guidance.

Hertz Global (NYSE: HTZ) will pay approximately $1.17 billion in cash and stock to acquire competitor Dollar Thrifty Automotive Group (NYSE: DTG) .

On the downside

Standpoint Research cited valuation concerns for downgrading Dell (Nasdaq: DELL).

Analysts downgraded Nokia (NYSE: NOK) after the mobile device maker reported disappointing earnings last week.

PMI (NYSE: PMI) widened first quarter losses as revenue tumbled.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 743.
The markets advanced in late afternoon trading to close higher with the Dow climbing 69 points to 11,204 as investors focused on a surge in new home sales. Nasdaq gained 11 points to 2530.

On the upside

Acacia Research (Nasdaq: ACTG) swung to a profit that topped analyst estimates.

Western Alliance Bancorp (NYSE: WAL) narrowed first quarter losses prompting an upgrade.

International Game Technology (NYSE: IGT) reported higher second quarter income as revenue rose.

On the downside

Taser International (Nasdaq: TASR) widened first quarter losses as revenue and margins both dropped.

First quarter earnings for Pegasystems (Nasdaq: PEGA) tumbled to fall short of expectations as operating expenses climbed.

While The New York Times (NYSE: NYT) swung to a profit for the first quarter, investors were disappointed by a greater than expected drop in advertising revenue.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 741.
The markets traded mixed during the midday with the Dow adding 9 points to 11,143 while Nasdaq slipped 4 points to 2514. German Chancellor Angela Merkel said that no aid package for Greece can be discussed until Greece concludes talks with the International Monetary Fund.

On the upside

MBT Financial (Nasdaq: MBTF) swung to a first quarter profit.

Cepheid (Nasdaq: CPHD) narrowed first quarter losses more than expected as revenue climbed.

Third quarter earnings for Western Digital (NYSE: WDC) surged eightfold prompting upgrades.

On the downside

Citizens Republic Bancorp (Nasdaq: CRBC) widened first quarter losses.

NCR (NYSE: NCR) blamed pension expenses for widening first quarter losses.

Wilmington Trust (NYSE: WL) swung to a much larger than expected loss for the first quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 736.
A surge in new home sales lifted the markets to a higher open with the Dow rising 38 points to 11,172. Nasdaq added 3 points to 2522.

On the upside

LM Ericsson Telephone (Nasdaq: ERIC) reported lower first quarter earnings but profit margins improved.

Reuters reported that HTC will not acquire Palm (Nasdaq: PALM) leaving Lenovo Group the lead contender.

Xerox (NYSE: XRX) reported a first quarter loss due to restructuring charges but the results topped analyst expectations and the company forecast second quarter earnings ahead of estimates.

On the downside

Analysts downgraded Associated Banc-Corp (Nasdaq: ASBC) after the company reported a wider than expected loss.

Ingersoll-Rand (NYSE: IR) swung to a profit but the results fell short of expectations.

The Food and Drug Administration rejected Acura Pharmaceuticals' (Nasdaq: ACUR) experimental pain medication Acurox.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 736.
Falling jobless claims and soaring existing home sales lifted the markets to a higher close with the Dow adding 9 points to 11,134. Nasdaq gained 14 points to 2519.

On the upside

Shares of Dehaier Medical Systems (Nasdaq: DHRM) leaped more than 50% on its first trading day.

Isilon Systems (Nasdaq: ISLN) reversed year ago losses to post a first quarter profit that topped analyst estimates as revenue soared.

RAIT Financial Trust (NYSE: RAS) sold its collateral management rights for eight Taberna securitizations to an affiliate of Fortress Investment Group for $16.5 million.

On the downside

McClatchy (Nasdaq: MNI) swung to a profit due to an accounting benefit but revenue dropped.

Janus Capital Group (NYSE: JNS) reversed year ago losses to post a first quarter profit but the results fell short of expectations.

Greece's budget deficit ballooned to 13.6% of the nation's gross domestic product sending shares of National Bank of Greece (NYSE: NBG) lower.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 734.
The markets recovered from earlier losses after a sharp gain in existing home sales but continued trading in negative territory with the Dow losing 29 points to 11,095 as Greek debt concerns lingered. Nasdaq eased a point to 2503.

On the upside

Comstock Homebuilding (Nasdaq: CHCI) regained compliance with Nasdaq listing requirements.

While Textron (NYSE: TXT) swung to a first quarter loss, the results were better than expected.

TCF Financial (NYSE: TCB) reported higher first quarter earnings.

On the downside

Affymetrix (Nasdaq: AFFX) narrowed first quarter losses but the company forecast second quarter sales below expectations.

Baxter International (NYSE: BAX) blamed disappointing sales of plasma-based therapies for cutting its 2010 profit guidance.

First quarter earnings for ABB (NYSE: ABB) dropped to fall short of expectations as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 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 726.
News that Greece's budget deficit swelled to a much greater than expected 13.6% of the country's gross domestic product weighed down the markets to a lower open with the Dow falling 78 points to 11,046. Nasdaq dropped 24 points to 2480.

On the upside

Delcath Systems (Nasdaq: DCTH) reported upbeat results from a Phase III clinical trial of the company's Percutaneous Hepatic Perfusion system to treat liver cancer .

Netflix (Nasdaq: NFLX) impressed with higher first quarter earnings that beat expectations prompting an analyst upgrade.

The Department of Health and Human Services notified Novavax (Nasdaq: NVAX) that the biopharmaceutical was in the competitive range for a contract to develop a new flu vaccine.

On the downside

First quarter earnings for eBay (Nasdaq: EBAY) rose but the company forecast current quarter results below estimates.

Qualcomm (Nasdaq: QCOM) reversed year ago losses to post a second quarter profit but the company sees third quarter earnings below analyst expectations.

While first quarter earnings for Nokia (NYSE: NOK) rose, the results fell short of expectations and the company delayed release of its Symbian 3 smartphone operating system.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 717.
The markets closed barely above the flatline with the Dow adding 7 points to 11,124 as home prices appeared to show a measure of stability. Nasdaq rose 4 points to 2504.

On the upside

First quarter earnings for Tempur-Pedic (NYSE: TPX) more than doubled to beat analyst expectations prompting the mattress maker to lift its full year guidance.

VMware (NYSE: VMW) reported higher first quarter earnings that topped expectations.

First quarter earnings nearly doubled for Tupperware (NYSE: TUP) as revenue climbed.

On the downside

iGate (Nasdaq: IGTE) priced its secondary offering of 4 million common shares at a discounted price of $11.25 per share.

American Airlines parent AMR (NYSE: AMR) blamed higher fuel expenses for widening first quarter losses.

Converted Organics (Nasdaq: COIN) will sell 2.4 million common shares through a registered direct offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 726.

Airline Losses Weigh Down Markets

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Concerns about billion dollar losses in the airline industry after volcanic ash grounded thousands of flights weighed down the markets during the midday with the Dow easing a fraction to 11,116. Nasdaq slipped 2 points to 2497.

On the upside

Dearborn Bancorp (Nasdaq: DEAR) swung to a profit as loan loss provisions tumbled.

Huntington Bancshares (Nasdaq: HBAN) reversed year ago losses to post a better than expected profit for the first quarter due to lower loan loss provisions.

Hovnanian Enterprises (NYSE: HOV) settled charges of violating the Clean Water Act by agreeing to pay a $1 million fine.

On the downside

Vitacost.com (Nasdaq: VITC) blamed lower than expected sales for cutting its outlook for the first quarter as well as the full year.

Canadian Solar (Nasdaq: CSIQ) warned of lower than expected margins for the first quarter.

AirTran Holdings (NYSE: AAI) blamed increased fuel expenses for swinging to a loss for the first quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 723.
Better than expected corporate earnings lifted the markets to a higher open with the Dow gaining 21 points to 11,138. Nasdaq rose 4 points to 2505.

On the upside

Visa (NYSE: V) will acquire online payment processor CyberSource (Nasdaq: CYBS) for approximately $2 billion in cash.

Morgan Stanley (NYSE: MS) swung to a first quarter profit that beat analyst expectations by a wide margin as revenue surged.

KeyCorp (NYSE: KEY) narrowed first quarter losses.

On the downside

First quarter earnings for Gilead Sciences (Nasdaq: GILD) surged to top analyst estimates but the biopharmaceutical lowered its 2010 revenue outlook.

While first quarter earnings for Yahoo (Nasdaq: YHOO) nearly tripled, revenue fell short of expectations.

Synovus Financial (NYSE: SNV) widened first quarter losses due to rising loan loss provisions.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 723.
The markets closed modestly higher with the Dow rising 25 points to 11,117 as corporate earnings improved. Nasdaq climbed 20 points to 2500.

On the upside

Converted Organics (Nasdaq: COIN) shipped 60,000 gallons of an expected 100,000 gallon order of all-natural, organic liquid fertilizer to Biorem.

First quarter losses for Marshall & Ilsley (NYSE: MI) widened but the results beat expectations.

Journal Communications (NYSE: JRN) reported sharply higher first quarter earnings that surpassed analyst estimates.

On the downside

The Food and Drug Administration questioned whether the formulation of Acura Pharmaceuticals' (Nasdaq: ACUR) pain medication Acurox deters possible abuse.

First quarter earnings for Jefferies Group (NYSE: JEF) nearly doubled but the stock price tumbled as investors locked in profits.

While Supervalu (NYSE: SVU) swung to a fourth quarter profit, the grocery store chain operator forecast disappointing 2011 results.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 10 points to 721.

Upbeat Earnings Lift Markets

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Upbeat earnings lifted the markets higher during the midday with the Dow rising 36 points to 11,128. Nasdaq gained 17 points to 2498.

On the upside

Reed's (Nasdaq: REED) expects strong first quarter sales on the heels of a record fourth quarter.

Target (NYSE: TGT) will begin selling Jones Soda's (Nasdaq: JSDA) GABA flavors nationwide beginning late May.

First quarter earnings plunged for Harley-Davidson (NYSE: HOG) but the results topped analyst estimates.

On the downside

BioDelivery Sciences International (Nasdaq: BDSI) will sell $10 million of securities to institutional investors through a registered direct offering.

AK Steel Holding (NYSE: AKS) reversed year ago losses to post a first quarter profit but warned that increasing iron ore prices will negatively impact second quarter results.

First quarter earnings rose for State Street (NYSE: STT) but investors were unimpressed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 718.
Despite upbeat earnings news, the markets traded near the flatline with the Dow slipping 5 points to 11,086 over continued concerns about the financial impact of grounded flights in Europe. Nasdaq added 4 points to 2484.

On the upside

Array BioPharma (Nasdaq: ARRY) entered a collaboration agreement valued at up to $467 million with Novartis to develop the cancer treatments ARRY-162 and ARRY-300.

The European Medicines Agency's Committee for Orphan Medicinal Products issued a positive opinion for CytRx's (Nasdaq: CYTR) chronic myeloid leukemia treatment bafetinib.

Argus upgraded Interpublic (NYSE: IPG).

On the downside

Human Genome Sciences (Nasdaq: HGSI) and GlaxoSmithKline (NYSE: GSK) announced that their lupus treatment Benlysta failed secondary goals in a late stage clinical trial.

First quarter earnings for Northern Trust (Nasdaq: NTRS) dropped to fall short of expectations.

MGIC Investment (NYSE: MTG) disappointed with a first quarter loss and the mortgage insurer announced a public offering of $700 million worth of common shares and $300 million in convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 714.
The markets rebounded in afternoon trading to close higher with the Dow climbing 73 points to 11,092 as investors focused on a sharper than expected jump in the Conference Board's index of leading economic indicators. Nasdaq eased a point to 2480.

On the upside

Cadence Pharmaceuticals (Nasdaq: CADX) will submit an approval request to the Food and Drug Administration for its pain and fever medication Ofirmev.

VA Southern Nevada Healthcare System selected Health Net (NYSE: HNT) to continue providing health care services to veterans at the outpatient clinic in Henderson, NV.

Daimler (NYSE: DAI) reported strong first quarter results that beat analyst expectations.

On the downside

Seacoast Banking (Nasdaq: SBCF) returned $200 million in subscriptions for the company's Series C Manditorily Convertible Preferred Stock.

Doral Financial (NYSE: DRL) announced plans to raise $600 million through private equity placements prompting Standard & Poor's Ratings Services to downgrade the bank.

RBC Capital Markets downgraded Esco Technologies (NYSE: ESE).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 711.

Markets Surrender Gains

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The major indexes gave up all of its gains as Iceland's ash cloud continued to restrict flights throughout Europe.  Concerns about Goldman Sachs weighed down the financial services sector. The Dow lost 13 points to 11,005 while Nasdaq dropped 25 points to 2455.

On the upside

Sequenom (Nasdaq: SQNM) launched the MassARRAY Analyzer 4, its next generation high performance nucleic acid analysis platform.

Geo Group (NYSE: GEO) will pay approximately $374 million in cash and stock to acquire rival prison operator Cornell (NYSE: CRN).

The Journal of Alzheimer's Disease published an article with new analysis that affirms the effectiveness of Prana's (Nasdaq: PRAN) Alzheimer's treatment candidate PBT2.

On the downside

McMoRan Exploration (NYSE: MMR) blamed one time charges for widening first quarter losses.

GMX Resources (NYSE: GMXR) completed a horizontal well at the Haynesville/Bossier site with an initial production rate of 14.4 million cubic feet of gas per day.

Shares of Canadian Solar (Nasdaq: CSIQ) fell following an analyst downgrade.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks lost 9 points to 705.

Citigroup's surprise profit lifted the markets to a higher open with the Dow rising 22 points to 11,040. Nasdaq added 2 points to 2483.

On the upside

Wells Fargo cited improving customer trends for upgrading Sprint (NYSE: S) to Outperform.

American Capital (Nasdaq: ACAS) will sell 58.3 million common shares at $5.06 per share to institutional investors through a registered direct offering.

Citigroup (NYSE: C) impressed by swinging to a first quarter profit that topped analyst estimates by a wide margin despite a drop in revenue as loan loss provisions fell and trading revenue surged.

On the downside

Morgan Keegan downgraded Palm (Nasdaq: PALM) to a Sell rating saying that the company will be unable to sell itself.

Demand weakend for Freddie Mac's (NYSE: FRE) bonds.

Collins Stewart downgraded Canadian Solar (Nasdaq: CSIQ).

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 eased a point to 712.

Civil fraud charges filed by the Securities and Exchange Commission against Goldman Sachs sent the markets skidding to a sharply lower close with the Dow sinking 125 points to 11,018. Nasdaq plunged 34 points to 2481.

On the upside

Cost Plus (Nasdaq: CPWM) terminated its shareholder rights plan three years ahead of the original expiration date.

Shares of C&D Technologies (NYSE: CHD) rose ahead of its earnings release next week.

Accusations of fraud against Goldman Sachs (NYSE: GS) lifted shares of bond insurer MBIA (NYSE: MBI).

On the downside

Mesabi Trust (NYSE: MSB) declared a distribution of $0.125 per unit paybable on May 20, 2010 to shareholders of record April 30, 2010. The distribution is sharply lower than the $0.38 per unit paid last year.

First Horizon National (NYSE: FHN) narrowed first quarter losses but revenue dropped to fall short of expectations.

Central Pacific Bank (NYSE: CPF) will continue participating in the Federal Deposit Insurance Corporation Transaction Account Guarantee program which provides unlimited insurance coverage for certain accounts.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 9 points to 714.

The Securities and Exchange Commission accused Goldman Sachs of fraud sending the markets tumbling during the mdiday with the Dow plunging 146 points to 10,997. Nasdaq plummeted 37 points to 2478.

On the upside

The Japanese Ministry of Health approved Ispire Pharmaceuticals' (Nasdaq: ISPH) and Santen Pharmaceutical's dry eye treatment DIQUAS Ophthalmic Solution 3%.

Immunogen's (Nasdaq: IMGN) development partner Roche will seek regulatory approval for their breast cancer treatment Trastuzumab-DM1.

Billionaire investors Carl Icahn increased his offer for Lions Gate (NYSE: LGF) to $7.00 per share from $6.00 per share.

On the downside

Molecular Insight Pharmaceuticals (Nasdaq: MIPI) received a 30-day extension from its bond holders to continue restructuring discussions.

While Krispy Kreme Doughnuts (NYSE: KKD) swung to a fourth quarter profit, revenue tumbled.

The Securities and Exchange Commission accused Goldman Sachs (NYSE: GS) of fraud related to subprime mortgage securities.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 713.

The markets opened flat with the Dow adding a point to 11,145 as consumer sentiment unexpectedly fell. Nasdaq slipped 8 points to 2507.

On the upside

Oracle (Nasdaq: ORCL) will pay approximately $685 million to acquire Phase Forward (Nasdaq: PFWD).

The Food and Drug Administration will allow Boston Scientific (NYSE: BSX) to resume selling two of its implantable heart defibrillators.

STR Holdings (NYSE: STRI) will sell 7 million common shares at $18.75 per share through a secondary offering.

On the downside

Hansen Medical (Nasdaq: HNSN) priced its offering of 14 million common shares at $2.00 per share.

AEterna Zentaris (Nasdaq: AEZS) will sell $15 million worth of common stock and warrants to purchase common shares through registered direct offering.

Needham downgraded Nvidia (Nasdaq: NVDA).

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 lost 4 points to 720.

Despite an unexpected gain in jobless applications, the markets closed modestly higher with the Dow gaining 21 points to 11,144 over upbeat earnings. Nasdaq climbed 10 points to 2515.

On the upside

Jamba (Nasdaq: JMBA) launched a new line of branded apparel.

CompuCredit Holdings (Nasdaq: CCRT) announced plans to repurchase up to $100 million worth of convertible debt and common stock.

Sauer-Danfoss (NYSE: SHS) directors are no longer advising shareholders to sell their holdings to Danfoss A/S.

On the downside

Universal Forest Products (Nasdaq: UFPI) reversed year ago losses to post a first quarter profit but the company refused to provide full year guidance due to challenging economic conditions.

Investors locked in profits on Achillion Pharmaceuticals (Nasdaq: ACHN) after the company presented upbeat study results for its hepatitis C treatment ACH-1625 at the European Association for the Study of the Liver's International Liver Congress.

Moneygram International (NYSE: MGI) expanded its services in Vietnam by 30% but the stock price fell.

In the broad market, advancing issues were on par with decliners on the NYSE while advancers outpaced decliners by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks addecd a point to 724.

March industrial production inched up 0.1% to give the markets a boost during the midday with the Dow rising 16 points to 11,139. Nasdaq gained 9 points to 2514.

On the upside

Cardica (Nasdaq: CRDC) published a study affirming the safety and efficacy of the company's stapling devices in beating-heart bypass procedures.

The Food and Drug Administration approved Akorn's (Nasdaq: AKRX) generic version of the pain treatment Dilaudid-HP.

The European Medicines Agency advised AEterna Zentaris (Nasdaq: AEZS) that the Phase III study of its cancer treatment perifosine is acceptable.

On the downside

Titan Machinery (Nasdaq: TITN) disappointed with lower than expected fourth quarter earnings and forecast 2011 results below expectations.

Macerich (NYSE: MAC) priced its offering of 30 million common shares at $41 per share.

Medical Properties Trust (NYSE: MPW) priced its offering of 26 million common shares at $9.75 per share.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 723.

The markets opened mixed with the Dow losing 19 points to 11,103 while Nasdaq added 2 points to 2507 as home foreclosures leaped 35% in the first quarter.

On the upside

Apache (NYSE: APA) will pay approximately $2.7 billion to acquire Mariner Energy (NYSE: ME).

Anadys Pharmaceuticals (Nasdaq: ANDS) reported positive results from a clinical study of its hepatitis C treatment ANA598.

Dynavax Technologies (Nasdaq: DVAX) reported upbeat results from a midstage clinical trial of its hepatitis B vaccine.

On the downside

Santarus (Nasdaq: SNTS) lost a patent infringement lawsuit filed against Par Pharmaceuticals (NYSE: PAR).

Credit Suisse downgraded Melco Crown Entertainment (Nasdaq: MPEL).

MGM Mirage (NYSE: MGM) warned of greater than expected losses for the first quarter.

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 lost a point to 721.

Upbeat earnings news lifted the markets to a sharply higher close with the Dow soaring 103 points to 11,123. Nasdaq leaped 38 points to 2504.

On the upside

Samsung's new line of 3D LED/LCD TVs are equipped with Silicon Image's (Nasdaq: SIMG) enhanced InstaPort switching technology.

BB&T Capital Markets initiated coverage of Pier 1 Imports (NYSE: PIR) with a Buy rating.

Goldman Sachs upgraded Allied Irish Banks (NYSE: AIB) to a Buy rating.

On the downside

Bull & Lifshitz launched an investigation into the merger between Mirant (NYSE: MIR) and RRI Energy (NYSE: RRI) merger for possible breaches of fiduciary duty.

The compensation package of UnitedHealth (NYSE: UNH) chief executive Stephen J. Hemsley more than doubled to $8.9 million in 2009.

Verizon (NYSE: VZ) will begin accepting pre-orders for the Droid Incredible but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 15 points to 722.

The markets extended its gains during the midday with the Dow climbing 66 points to 11,086 over upbeat corporate results and forecasts. Nasdaq gained 29 points to 2495.

On the upside

The Wall Street Transcript interviewed AEterna Zentaris (Nasdaq: AEZS) chief executive Dr. Jurgen Engel.

DA Davidson upgraded Entegris (Nasdaq: ENTG).

Trico Marine Services (Nasdaq: TRMA) announced that it received new contracts worth over $25 million and sold a vessel for approximately $16 million.

On the downside

Profit takers weighed down shares of Molecular Insight Pharmaceuticals (Nasdaq: MIPI) whose shares surged yesterday after announcing upbeat results from a midstage trial of its cancer drug Onalta.

Citigroup downgraded Dendreon (Nasdaq: DNDN).

Cloud Peak Energy (NYSE: CLD) reported lower coal production for 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 nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 716.

A sharp gain in March retail sales lifted the markets to a higher open with the Dow rising 31 points to 11,051. Nasdaq climbed 15 points to 2481.

On the upside

Privately held U. S. Renal Care will pay approximately $112 million to acquire Dialysis Corp. of America (Nasdaq: DCAI).

Hot Topic (Nasdaq: HOTT) said that sales are improving in all of its core businesses.

Kulicke & Soffa Industries (Nasdaq: KLIC) said that both second quarter and third quarter revenue will top analyst estimates.

On the downside

Goldman Sachs downgraded Potash (NYSE: POT) and Mosaic (NYSE: MOS).

Pfizer's (NYSE: PFE) anticonvulsant drug Neurontin may increase suicide risk.

First quarter earnings for W. W. Granger (NYSE: GWW) missed estimates and the building maintenance products company forecast 2010 results below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 711.

The markets recovered to close modestly higher with the Dow rising 13 points to 11,019 as investors await earnings from Bank of America and JPMorgan Chase later this week. Nasdaq gained 8 points to 2465.

On the upside

Newly elected Goodyear Tire & Rubber (NYSE: GT) president and chief executive Richard J. Kramer expressed confidence in the growth of tire company as the global economy recovers.

Credit Suisse mentioned Education Management (Nasdaq: EDMC) in a positive light in its report about the for-profit education sector.

Credit Suisse upgraded Verso Paper (NYSE: VRS) to an Outperform rating.

On the downside

Orexigen Therapeutics (Nasdaq: OREX) incorrectly calculated results from a clinical trial of its obesity treatment Contrave. While results were revised downward, the biopharmaceutical said that the drug still met study goals.

Investors locked in profits on Ambac Financial (NYSE: ABK), whose shares have tripled since last week.

Shares of Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) fell after banking executives expressed reluctance to reducing loans on underwater mortgages.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 707.

Markets Modestly Higher At Midday

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The markets recovered during the midday to trade modestly higher with the Dow adding 8 points to 11,014. Nasdaq rose 4 points to 2462.

On the upside

Catalyst Pharmaceutical Partners (Nasdaq: CPRX) partnered with the National Institute of Drug Abuse to conduct a Phase II(b) clinical trial of its cocaine addiction treatment vigabatrin.

Thomas Weisel Partners analyst Jim Duffy upgraded Crocs (Nasdaq: CROX) and lifted his 2011 earnings estimate saying that the company has a solid presence in the Asian markets.

 Credit Suisse upgraded DeVry (NYSE: DV).

On the downside

UBS downgraded KeyCorp (NYSE: KEY) saying that the pace of the economic recovery will be slower than expected.GMX Resources (NYSE: GMXR) announced an initial production rate of 10.1 million cubic feet of gas per day at its Haynesville/Bossier horizontal well.

Reuters reported that Palm (Nasdaq: PALM) approached Huawei Technologies in February to explore acquisition options but negotiations never advanced.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 706.

Earnings season began with disappointing Alcoa results to weigh down the markets to a lower open with the Dow dropping 52 points to 10,953. Nasdaq fell 10 points to 2447.

On the upside

Molecular Insight Pharmaceuticals (Nasdaq: MIPI) reported positive results from a midstage clinical trial of its cancer treatment Onalta.

While Popular (Nasdaq: BPOP) warned of wider first quarter losses, the parent company of Banco Popular expects lower loan loss provisions and announced plans to raise $900 million through a public offering.

Talbots (NYSE: TLB) reversed year ago losses to post a fourth quarter profit and expects first quarter as well as full year revenue to beat expectations.

On the downside

UBS downgraded Huntington Bancshares (Nasdaq: HBAN).

Avon Products (NYSE: AVP) has suspended four executives in an ongoing investigation of allegations of bribery.

Enterprise Products Partners (NYSE: EPD) expects to raise approximately $422 million through an offering of 12 million common units.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 704.

Merger and acquisition news along with European loan agreements for Greece lifted the markets to a modestly higher close with the Dow adding 8 points to 11,005, closing above 11,000 for the first time in eighteen months. Nasdaq rose 3 points to 2457.

On the upside

Seacoast Banking (Nasdaq: SBCF) completed a $50 million placement of convertible preferred stock.

Double-Take Software (Nasdaq: DBTK) received several unsolicited acquisition offers.

Fannie Mae (NYSE: FNM) will sell $5 billion in three and six month bills on Wednesday.

On the downside

TheStreet expects Icici Bank (NYSE: IBN) to outperform other India stocks.

Alphatec Holdings (Nasdaq: ATEC) will offer 16 million common shares.

Helios Strategic (NYSE: HSM) lowered its monthly dividend to $0.0560 per share from $0.0725 per share payable on April 29, 2010 to shareholders of record April 23, 2010.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 705.

Retreating crude oil prices lifted the markets modestly higher during the midday with the Dow rising 21 points to 11,019. Nasdaq added 4 points to 2458.

 

On the upside

Keryx Biopharmaceuticals (Nasdaq: KERX) and AEterna Zentaris (Nasdaq: AEZS) announced last week the commencement of a late stage clinical trial for its colorectal cancer drug perifosine.

Shares of Ambac Financial (NYSE: ABK) continued soaring after posting a profit on Friday.

Freddie Mac (NYSE: FRE) sold three and six month bills at a lower rate than last week due to improving demand.

On the downside

Hillliard Lyons downgraded Glimcher Realty Trust (NYSE: GRT).

Ciber (NYSE: CBR) announced the retirement of chief executive Mac J. Slingerlend and named chief financial officer Peter H. Cheesbrough as interim CEO.

Stifel Nicolaus downgraded Quality Distribution (Nasdaq: QLTY) citing valuation concerns.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 704.

Markets Up Ahead Of Earnings

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The markets opened modestly higher with the Dow gaining 20 points to break the 11,000 mark to 11,018 ahead of earnings news. Nasdaq edged up a point to 2455.

 

On the upside

Cerberus Capital Management will take DynCorp International (NYSE: DCP) private in a deal valued at approximately $1.5 billion.

Bloomberg reported that Palm (Nasdaq: PALM) retained the services of Goldman Sachs and Qatalyst Partners to assist in the sale of the company.

Mirant (NYSE: MIR) will acquire RRI Energy (NYSE: RRI) in a stock swap deal valued at approximately $1.61 billion.

On the downside

A Barron's article said that shares of Clean Energy Fuels (Nasdaq: CLNE) will most likely fall  because of its high valuation and impending dilution from management stock options and warrants.

UBS downgraded Louisiana-Pacific (NYSE: LPX).

The Federal Trade Commission made a second request for more information from Monster Worldwide (NYSE: MWW) as part of its review of Monster's acquisition of HotJobs.

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 added a fraction to 703.

Investors embraced reassurances from the Greek finance minister that Greece was not seeking any relief from the European Union rescue plan. The markets closed higher with the Dow gaining 70 points to close just shy of the 11,000 mark at 10,997. Nasdaq climbed 17 points to 2454.

 

On the upside

BWS Financial upgraded SciClone Pharmaceuticals (Nasdaq: SCLN) to a Buy rating.

The Wall Street Journal reported that California Pizza Kitchen (Nasdaq: CPKI) was in the process of finding a buyer for the casual dining chain.

Borders Group (NYSE: BGP) secured a $700 million credit line with GE Capital Corporate Retail Finance as co-collateral agent.

On the downside

Investment Technology Group (NYSE: ITG) reported sharply lower trading volume in March compared with last year.

Forbes listed Ruby Tuesday's (NYSE: RT) Sunrise Quesadilla Cheeseburger with Fries as the fifth most fattening meal from a chain restaurant.

Concerns about failing banks in Puerto Rico weighed down shares of First Bancorp (NYSE: FBP).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 702.

Wholesale inventories rose more than expected in February to lift the markets higher during the midday with the Dow climbing 37 points to 10,964. Nasdaq gained 9 points to 2446.

 

On the upside

Lihua International (Nasdaq: LIWA) priced its public offering of more than 3.7 million common shares at $8.05 per share.

Glimcher Realty Trust (NYSE: GRT) refinanced its Mall at Johnson City into a ten year 6.76% fixed interest rate $55 million loan.

Manatee County selected Jacobs Engineering (NYSE: JEC) manage construction of its $20 million Fort Hamer Bridge project.

On the downside

Soleil Securities downgraded Zale (NYSE: ZLC) citing the possibility of a bankruptcy filing.

Constellation Brands (NYSE: STZ) reported a fourth quarter loss and forecast fiscal 2011 results below expectations.

JMP Securities downgraded Compellent Technologies (NYSE: CML).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 701.

Greek finance minister George Papaconstantinou reassured the global community that his country has not requested assistance through the European rescue plan. The markets opened higher with the Dow gaining 37 points to 10,964 while Nasdaq added 3 points to 2440.

 

On the upside

Alimentation Couche-Tard offered $36 per share in cash to acquire Casey's General Stores (Nasdaq: CASY).

Rumors circulated that HTC Corp. may be in negotiations to acquire Palm (Nasdaq: PALM).

Atlas Energy (Nasdaq: ATLS) entered a $1.7 billion joint venture with Reliance Industries to develop its Marcelllus Shale positions.

On the downside

First quarter earnings for Joe's Jeans (Nasdaq: JOEZ) slipped.

Targa Resources (NYSE: NGLS) priced its secondary offering of 8.5 million common units at $27.50 per share.

J.P. Morgan removed Alcoa (NYSE: AA) from its focus list and downgraded the aluminum maker saying that the company will continue to face difficulties in generating attractive returns.

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 more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 698.

Despite an unexpected gain in jobless claims, the markets closed modestly higher with the Dow rising 29 points to 10,927 as same store sales surged. Nasdaq added 5 points to 2436.

 

On the upside

February gaming revenue jumped 32.9% on the Las Vegas Strip to lift shares of MGM Mirage (NYSE: MGM), Las Vegas Sands (NYSE: LVS) and Boyd Gaming (NYSE: BYD).

W&T Offshore (NYSE: WTI) will purchase Total E&P USA's share in three deepwater Gulf of Mexico offshore blocks.

Fitch Ratings affirmed its rating for student lender Sallie Mae (NYSE: SLM).

On the downside

Fourth quarter earnings plunged for Apogee Enterprises (Nasdaq: APOG) due to challenging economic conditions.

Raser Technologies (NYSE: RZ) may sell common shares to raise up to $25 million.

Canaccord Adams downgraded Emulex (NYSE: ELX).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 699.

A record jump in March same store sales lifted the markets higher during the midday with the Dow gaining 38 points to 10,935. Nasdaq rose 6 points to 2437.

 

On the upside

Pier 1 Imports (NYSE: PIR) swung to a fourth quarter profit due to cost cutting measures and rising revenue.

Streamline Health Solutions (Nasdaq: STRM) reversed year ago losses to post a profit for the fourth quarter.

Valence Technology (Nasdaq: VLNC) will provide battery technology to the first solar powered master planned community Discovery at Spring Trails in Texas.

On the downside

American Eagle Outfitters (NYSE: AEO) reported higher same store sales that topped analyst estimates but the stock price fell.

Canaccord Adams downgraded 3Par (NYSE: PAR).

J.C. Penney (NYSE: JCP) disappointed with a lower than expected increase in same store sales.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 698.

An unexpected gain in first time applications for unemployment benefits weighed down the markets to a lower open with the Dow falling 41 points to 10,856. Nasdaq fell 15 points to 2415.

 

On the upside

United Airlines parent UAL (Nasdaq: UAUA) and US Airways (NYSE: LCC) engaged in merger discussions.

March same store sales for Gap (NYSE: GPS) surged 11% to beat analyst expectations by a wide margin.

Hot Topic (Nasdaq: HOTT) reported lower same store sales for March but the results were better than expected and the teen retailer announced a one-time cash dividend of $1 per share along with a regular dividend of 7 cents per share payable on May 3, 2010 to shareholders of record April 19, 2010.

On the downside

Compellent Technologies (NYSE: CML) lowered its revenue outlook for the first quarter to fall below analyst estimates prompting downgrades.

A Food and Drug Administratin advisory panel rejected Forest Laboratories' (NYSE: FRX) lung disease treatment Daxas citing the possibility of dangerous side effects.

Robert W. Baird downgraded KeyCorp (NYSE: KEY).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 696.

A sharp $11.5 billion plunge in consumer borrowing weighed down the markets to a lower close with the Dow dropping 72 points to 10,897. Nasdaq lost 5 points to 2431.

 

On the upside

Jacada (Nasdaq: JCDA) will provide customer management services to a digital television services provider.

American International Group (NYSE: AIG) agreed to settle an antitrust lawsuit by paying $9 million.

MSC Industrial Direct (NYSE: MSM) reported higher second quarter earnings that topped  analyst estimates.

On the downside

Internet postings questioned the valuation of Houston American Energy (Nasdaq: HUSA) saying that the company was "set up for collapse." The company denied the allegations.

BWS Financial downgraded Entropic Communications (Nasdaq: ENTR).

Alabama, Kentucky, Mississippi and South Carolina are seeking to revoke the registrations of Regions Financial's (NYSE: RF Morgan Keegan & Co. and Morgan Asset Management divisions saying that the financial services firms mislead investors.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 699.

Federal Reserve chairman Ben Bernanke said that while the economy was stabilizing, weakness in the housing and job markets persist. The Dow lost 30 points to 10,939 while Nasdaq added a point to 2438.

 

On the upside

Rumors swirled that Lenova may be interested in acquiring Palm (Nasdaq: PALM).

Arrowhead Research (Nasdaq: ARWR) appointed 2001 Nobel Prize in Medicine recipient Dr. Lee Hartwell to its Scientific Advisory Board.

Royal Bank of Scotland upgraded Allied Irish Banks (NYSE: AIB) to a Buy rating.

On the downside

Star Scientific (Nasdaq: CIGX) entered a research agreement with Roskamp Institute to develop a compound with the potential to treat Alzheimer's disease but the stock price dropped.

An appeals court ruled in favor of Comcast (Nasdaq: CMCSA) saying that the Federal Communications Commission did not have the authority to cite the cable company for deliberately slowing certain Internet traffic. Concerns that the decision will prompt more Internet regulation weighed down shares of the company.

Monsanto (NYSE: MON) disappointed with lower than expected second quarter results and warned that full year earnings will fall short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 701.

The markets opened lower with the Dow falling 44 points to 10,925 after European markets slipped over renewed debt concerns in Greece. Nasdaq rose 7 points to 2436.

 

On the upside

JA Solar (Nasdaq: JASO) lifted its first quarter shipment forecast.

CKE Restaurants (NYSE: CKR) received a better buyout offer than the current one from private equity firmThomas H. Lee Partners.

Shares of Pure Bioscience (Nasdaq: PURE) continued to surge after the Environmental Protection Agency cleared the company's antimicrobial sanitizer for production yesterday.

On the downside

Investors locked in profits on Zanett (Nasdaq: ZANE), whose shares surged yesterday after reporting record signed contracts for the first quarter.

BWS Financial downgraded Entropic Communications (Nasdaq: ENTR).

Shares of Massey Energy (NYSE: MEE) continued to fall after a mine explosion killed 25 workers in West Virginia on Monday.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 699.

Renewed concerns about worsening debt in Greece dampened investor enthusiasm. The markets closed near the flatline with the Dow easing 3 points to 10,969 while Nasdaq rose 7 points to 2436.

 

On the upside

The Environmental Protection Agency cleared Pure Bioscience's (Nasdaq: PURE) antimicrobial sanitizer for use in restaurants, food processing plants as well as homes.

Opexa Therapeutics (Nasdaq: OPXA) will present data from its T-cell therapy for multiple sclerosis at the annual meeting of the American Academy of Neurology in Toronto on April 14, 2010.

Research in Motion (Nasdaq: RIMM) released updated Java and Web development tools with new capabilities for even easier creation of feature-rich applications.

On the downside

eDiets (Nasdaq: DIET) priced its registered direct offering of more than 5.2 million common shares at a discounted price of $1.00 per share.

Shares of National Bank of Greece (NYSE: NBG) fell after news articles suggested that the debt crisis in Greece was getting worse.

Bally Technologies (NYSE: BYI) trimmed its full year outlook below analyst estimates.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 701.

The markets traded mixed during the midday ahead of the release the minutes from the last Federal Reserve meeting. The Dow slipped 10 points to 10,936 while Nasdaq added 3 points to 2433.

 

On the upside

The Wall Street Journal reported that Maguire Properites (NYSE: MPG) founder and former chief executive Robert Maguire III offered to purchase three properties that may be in danger of default.

Wonder Auto Technology (Nasdaq: WATG) cited better than expected sales for raising its first quarter outlook.

Northcoast Research upgraded Hertz Global Holdings (NYSE: HTZ) to a Buy rating saying that corporate travel demand is increasing.

On the downside

IStar Financial (NYSE: SFI) chief financial officer James Burns announced his resignation effective April 16.

Sales of semiconductors posted a sequential drop in February weighing down shares of Advanced Micro Devices (NYSE: AMD), Intel (Nasdaq: INTC) and Nvidia (Nasdaq: NVDA).

Investors locked in profits on Keryx Biopharmaceuticals, (Nasdaq: KERX) whose shares soared yesterday after gaining fast track status for its refractory advanced colorectal cancer treatment perifosine.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 700.

Soaring crude oil prices weighed down the markets to a lower open with the Dow losing 27 points to 10,946. Nasdaq slipped 7 points to 2422.

 

On the upside

State Grid Corporation of China selected China Information Security Technology (Nasdaq: CPBY) to be one of only two suppliers for China's Smart Grid.

Zanett (Nasdaq: ZANE) announced a record $17.1 million in signed contracts for the first quarter.

Roth Capital upgraded CardioNet (Nasdaq: BEAT).

On the downside

CA (Nasdaq: CA) announced restructuring plans that include the elimination of 1,000 positions and the closure of some facilities.

An explosion at one of Massey Energy's (NYSE: MEE) West Virginia coal mines killed 25 workers.

Teekay Tankers (NYSE: TK) priced its offering of 7.7 million common shares at a discounted price of $12.25 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 695.

A surge in pending home sales along with greater than expected expansion of the nation's sevices sector lifted the markets to a higher close with the Dow rising 46 points to 10,973. Nasdaq climbed 26 points to 2429.

 

On the upside

The Food and Drug Administration cleared Unilife's (Nasdaq: UNIS) Unitract 1mL Insulin Syringes for assembly at the company's manufacturing facility in Lewisberry, PA.

Shares of PMI Group (NYSE: PMI) rose after Barclays Capital analyst Eric Berg commented that the revised Home Affordable Modification Program will benefit mortgage insurers.

Accelrys (Nasdaq: ACCL) will merge with Symyx Technologies (Nasdaq: SMMX) in an all stock deal.

On the downside

Pfizer (NYSE: PFE) settled a wrongful death lawsuit involving the company's anti-seizure treatment Neurontin.

Flotek Industries (NYSE: FTK) reported a wider than expected fourth quarter loss last week.

Shares of BlackBerry maker Research in Motion (Nasdaq: RIMM) continued to fall after reporting disappointing fourth quarter shipments and revenue.

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 soared 13 points to 697.

The markets continued to advance during the midday with the Dow climbing 54 points to 10,981 as the nation's services sector expanded more than expected. Nasdaq soared 24 points to 2427.

 

On the upside

Microvision (Nasdaq: MVIS) announced that a consumer electronics client place an $8.5 million purchase order for the new ultra-miniature PicoP laser projection display engine.

UBS upgraded Cree (Nasdaq: CREE).

National Dentex (Nasdaq: NADX) will go private in a deal valued at approximately $100 million.

On the downside

Analysts downgraded TASER International (Nasdaq: TASR).

Rising crude oil prices weighed down shares of Continental Airlines (NYSE: CAL) and US Airways Group (NYSE: LCC).

A Barron's article said that Energy Conversion Devices' (Nasdaq: ENER) share value will continue to fall as competitors introduce more efficient products with lower prices.

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 climbed 10 points to 694.

The markets opened higher with the Dow gaining 42 points to 10,969 as pending home sales surged 8.2% in February. Nasdaq climbed 16 points to 2419.

 

On the upside

The Food and Drug Administration granted Keryx Biopharmaceuticals' (Nasdaq: KERX) refractory advanced colorectal cancer treatment KRX-0401 Fast Track status.

J. P. Morgan upgraded Melco Crown Entertainment (Nasdaq: MPEL).

SandRidge Energy will pay approximately $1.6 billion in cash and stock to acquire Arena Resources (NYSE: ARD).

On the downside

Analysts downgraded Tesoro (NYSE: TSO) after a refinery fire on Friday killed five workers.

Anchor BanCorp Wisconsin (Nasdaq: ABCW) announced on Friday that it engaged the services of Sandler O'Neill to explore strategic options.

Goldman Sachs downgraded Monster Worldwide (NYSE: MWW) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 690.

U. S. Markets Closed

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U. S. markets are closed in observance of the Easter holiday.
Upbeat jobs and manufacturing data lifted the markets to a higher close with the Dow rising 70 points to 10,927. Nasdaq gained 4 points to 2402.

 

On the upside

Lihir Gold (Nasdaq: LIHR) rejected Newcrest Mining's $8.5 billion acquisition offer saying that the bid was too low.

Century Aluminum (Nasdaq: CENX) temporarily extended a union contract at its Kentucky smelting plant while contract negotiations continue.

Flotek Industries (NYSE: FTK) narrowed fourth quarter losses even as revenue dropped.

On the downside

Micron Technology (NYSE: MU) reversed year ago losses to post a better than expected profit for the second quarter but the stock price fell.


An appeals court upheld a ruling in favor of eBay (Nasdaq: EBAY) in Tiffany & Co.'s (NYSE: TIF) trademark infringement lawsuit but returned a false advertising claim decision to the lower courts for review.

Fourth quarter earnings for Telestone Technologies (Nasdaq: TSTC) surged as revenue more than doubled but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 683.

A strong gain in the Institute for Supply Management's manufacturing index lifted the markets higher during the midday with the Dow gaining 70 points to 10,927. Nasdaq added 6 points to 2404.

 

On the upside

Gentium (Nasdaq: GENT) narrowed fourth quarter losses as revenue climbed.

AZZ (NYSE: AZZ) will pay approximately $125.6 million to acquire North American Galvanizing & Coatings (Nasdaq: NGA).

Pacific Ethanol (Nasdaq: PEIX) widened fourth quarter losses due to a significant impairment charge but adjusted earnings beat last year's results by a wide margin.

On the downside

While China GrenTech (Nasdaq: GRRF) narrowed fourth quarter losses, revenue fell.

Worthington Industries (NYSE: WOR) blamed charges for swinging to a loss for the third quarter.

Deutsche Bank cited valuation concerns for downgrading BlackRock (NYSE: BLK).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 683.

A drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow climbing 93 points to 10,950. Nasdaq gained 21 points to 2419.

 

On the upside

Xyratex (Nasdaq: XRTX) reversed year ago losses to post a greater than expected profit for the first quarter and forecast second quarter results that topped analyst estimates.

Private equity firm SSI Investments increased its offer for SkillSoft (Nasdaq: SKIL) to $1.2 billion in cash from $1.1 billion.

Borders Group (NYSE: BGP) impressed with fourth quarter earnings that doubled even as sales dropped. The book seller also repaid a $42.5 million loan.

On the downside

Fourth quarter earnings rose for Research in Motion (Nasdaq: RIMM) but revenue fell short of expectations.

Natural Resource Partners (NYSE: NRP) priced its offering of 4 million common units at $25.17 per unit.

DemandTec (Nasdaq: DMAN) widened fourth quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 685.

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