May 2010 Archives

The markets advanced during the midday with the Dow gaining 55 points to 10,191 as manufacturing activity topped expectations. Nasdaq rose 6 points to 2263.

On the upside

Mediacom Communications (Nasdaq: MCCC) chief executive Rocco Comisso offered $6 per share to take the company private.

Second quarter earnings for Bank of Nova Scotia (NYSE: BNS) surpassed analyst expectations and the bank declared a quarterly dividend payable on July 28, 2010 to shareholders of record July 6, 2010.

Ener1's (Nasdaq: HEV) prinicipal shareholder Ener1 Group will invest $65 million in the company.

On the downside

Marshall Edwards' (Nasdaq: MSHL) cancer treatment phenoxodiol failed a late stage clinical trial.

Last week, Flagstar Bancorp (NYSE: FBC) announced a 1-for-10 reverse stock split.

Tenet Healthcare (NYSE: THC) confirmed reports that it engaged in discussions to acquire Australian hospital operator Healthscope.

In the broad market, declining issues outpaced advancers by a margin of more than  2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 651.

A surge in construction spending lifted the markets to a higher open with the Dow rising 24 points to 10,160. Nasdaq gained 16 points to 2273.

On the upside

Covidien (NYSE: COV) will pay approximately $2.6 billion in cash to acquire ev3 (Nasdaq: EVVV).

The New York Post reported that private equity firm Blackstone Group (NYSE: BX) may acquire RadioShack (NYSE: RSH).

Jones Soda (NYSE: JDSA) announced last week that it's products will be sold at Wal-Mart (NYSE: WMT).

On the downside

BP's (NYSE: BP) effort to halt the oil spill with the top-kill method of pouring mud into the leak failed.

Failure of the top-kill method to stop the oil spill at the Deepwater Horizon rig weighed down shares of Transocean, (NYSE: RIG) owner of the rig.

The cost of Halliburton's (NYSE: HAL) five year credit default swaps soared 27% to 98 basis points.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 657.

U. S. Markets Closed

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U. S. markets are closed in observance of Memorial Day.

Flat consumer spending and a downgrade of Spain's debt weighed down the markets to a sharply lower close with the Dow plummeting 122 points to 10,136. Nasdaq tumbled 20 points to 2257.

On the upside

CKX (Nasdaq: CKXE) received an acquisition offer from American Idol creator Simon Fuller.

Shares of onshore drilling sevices provider Precision Drilling (NYSE: PDS) rose after the government declared a moratorium on offshore drilling.

Towerstream (Nasdaq: TWER) chief executive Jeff Thomson will present at the Morgan Joseph 2010 Best Ideas Conference.

On the downside

The government's new offshore drilling rules will negatively impact drilling support companies Hornbeck Offshore Services (NYSE: HOS), Dril-Quip (NYSE: DRQ) and Superior Energy Services (NYSE: SPN).

Shares of Borders Group (NYSE: BGP) continued to fall after the bookseller posted a first quarter loss yesterday as revenue dropped.

Morgan Stanley (NYSE: MS) announced the elimination of 200 positions at its brokerage unit.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 661.

Fitch Ratings downgraded Spain's debt rating sending the markets tumbling during the midday with the Dow plunging 103 points to 10,155. Nasdaq dropped 23 points to 2253.

On the upside

Vivus (Nasdaq: VVUS) will present data from a phase 3 study of the erectile dysfunction treatment avanafil at the American Urological Association 2010 Annual Meeting.

Jackson Hewitt Tax Service (NYSE: JTX) said that full year 2010 revenue will top estimates as the number of prepared tax returns fell less than expected.

Rodman & Renshaw initiated coverage of Xinyuan Real Estate (NYSE: XIN) with a Market Outperform rating.

On the downside

Parametric Technology (Nasdaq: PMTC) chief financial officer Neil Moses will leave the company November 15, 2010.

Shares of Oceaneering (NYSE: OII), a provider of offshore engineered services for deepwater oil applications, tumbled after the government issued a temporary ban on offshore drilling.

Fourth quarter earnings for Universal (NYSE: UVV) rose but revenue was flat.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 661.

Flat consumer spending in April weighed down the markets to a lower open with the Dow losing 23 points to 10,235. Nasdaq slipped 3 points to 2274.

On the upside

OmniVision Technologies (Nasdaq: OVTI) reversed year ago losses to post a better than expected profit for the fourth quarter and forecast first quarter revenue ahead of estimates.

Ener1 (Nasdaq: HEV) entered a joint venture with Chinese auto parts supplier Wanxiang to produce electric vehicle battery systems.

Origin Agritech (Nasdaq: SEED) sold its 34% stake in Chinese cotton seed producer Biocentury Transgene.

On the downside

While Blue Coat Systems (Nasdaq: BCSI) swung to a profit for the fourth quarter, the company forecast first quarter results below expectations.

Maxim Group downgraded DJSP Enterprises (Nasdaq: DJSP) after the company reported lower first quater results.

Shares of deepwater drilling companies Noble (NYSE: NE) and Transocean (NYSE: RIG) dropped after the government ordered drilling to stop at 33 deepwater wells while safety reviews are conducted.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 664.

Reassurances from China that it will maintain its European debt boosted investor confidence to lift the markets to a sharply higher close with the Dow rocketing 284 points to 10,258. Nasdaq leaped 81 points to 2277.

On the upside

Toreador Resources (Nasdaq: TRGL) will repurchase up to $5 million worth of common shares.

China Security & Surveillance Technology (NYSE: CSR) priced its offering of 15 million common shares at $4.00 per share.

MPG Office Trust (NYSE: MPG) extinguished the $26.4 million loan obligation on an Irvine site.

Universal Display (Nasdaq: PANL) will introduce its new energy efficient white OLED panel display at the 2010 Society for Information Display International Symposium, Seminar & Exhibition.

Nonprofit One Laptop Per Child selected Marvell Technology's (Nasdaq: MRVL) Moby tablet as its next computer.

Bloomberg News reported that Ford (NYSE: F) is considering ending the production of its Mercury brand of cars.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 27 points to 670.

The markets surged with the Dow soaring 208 points to 10,183 after China denied reports that it was selling its European debt. Nasdaq jumped 63 points to 2259.

On the upside

SunPower (Nasdaq: SPWRA) entered a $700 million joint venture with AU Optronics (NYSE: AUO) to own and operate a solar cell fabrication facility in Malaysia.

Second quarter earnings for VeriFone Systems (NYSE: PAY) nearly doubled to beat expectations as revenue rose and the company forecast second quarter revenue ahead of estimates.

Portuguese newspaper Diario Economico reported that Carlos Slim, the wealthiest man in the world, may acquire a stake in Portugal Telecom (NYSE: PT).

On the downside

Jamba (Nasdaq: JMBA) narrowed first quarter losses but the results missed estimates.

While Borders Group (Nasdaq: BGP) narrowed first quarter losses, the loss was far greater than expected.

National American University Holdings (Nasdaq: NAUH) priced its offering of 7 million common shares at $7.50 per share.

In the broad market, advancing issues outpaced decliners by a margin of 8 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 18 points to 661.

Investors welcomed China's announcement that it will not sell any of its European debt holdings. The markets opened higher with the Dow leaping 216 points to 10,191 while Nasdaq surged 62 points to 2258.

On the upside

Fourth quarter earnings for NetApp (Nasdaq: NTAP) surged to beat analyst expectations and the company forecast first quarter results ahead of estimates.

Hercules Offshore (Nasdaq: HERO) will make a presentation at the UBS Global Oil & Gas Conference this morning.

FSI International (Nasdaq: FSII) lifted its outlook for the third quarter.

On the downsideZiopharm Oncology (Nasdaq: ZIOP) priced its offering of 7 million common shares at $5.00 per share.

The International Trade Commission delayed the target date to complete its investigation into a patent complaint filed by Rambus (Nasdaq: RMBS) against Nvidia (Nasdaq: NVDA) and other companies.

Monsanto (NYSE: MON) cut its full year outlook saying that the competitive market has forced the company to lower prices.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 657.

Despite upbeat economic data, the markets closed lower with the Dow tumbling 69 points to 9974 as the euro dropped. Nasdaq fell 15 points to 2195.

On the upside

Neurocrine Biosciences (Nasdaq: NBIX) stock surged for a second after the company reported upbeat results from a midstage clinical trial of its endometriosis treatment elagolix.

Rodman & Renshaw (Nasdaq: RODM) will repurchase up to $5 million worth of stock.

Dycom Industries (NYSE: DY) reported lower third quarter earnings but the results topped analyst estimates.

On the downsideFirst quarter earnings for National Bank of Greece (NYSE: NBG) plummeted.

Zale (NYSE: ZLC) narrowed third quarter losses but the stock price fell.

BMO Capital analyst John Morris downgraded J. Crew (NYSE: JCG) and lowered his price target on the apparel retailer saying that growth opportunities have been maximized.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 642.

A greater than expected surge in new home sales boosted the markets during the midday with the Dow gaining 73 points to 10,116. Nasdaq climbed 25 points to 2236.

On the upside

The Food and Drug Administration will review MELA Sciences' (Nasdaq: MELA) pre-market application for its melanoma detection tool MelaFind.

Central Jersey Bancorp (Nasdaq: CJBK) and Kearny Financial (Nasdaq: KRNY) will merge in a deal valued at approximately $72.3 million.

J.P. Morgan Chase upgraded US Airways Group (NYSE: LCC).

On the downside Investors locked in profits on Sprint (NYSE: S), whose shares surged recently.

Morgan Joseph analyst Shiv Kapoor said that long term growth for Gilead (Nasdaq: GILD) is poor citing a number of drug patents that are set to expire in seven to eight years.

Psagot analyst Limor Gruber upgraded Teva Pharmaceutical (NYSE: TEVA) and raised her price target for the generic drug maker but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 652.

Durable goods orders surged in April to lift the markets to a higher open with the Dow climbing 91 points to 10,135. Nasdaq soared 38 points to 2249.

On the upside

Vertex Pharmaceuticals (Nasdq: VRTX) reported positive results from a late stage clinical trial of its hepatitis C treatment telaprevir.

First quarter earnings for Solarfun Power Holdings (Nasdaq: SOLF) surged to beat analyst estimates by a wide margin as revenue soared prompting the photovoltaic cell maker to lift its full year shipment outlook.

Woori Finance Holdings will pay up to $240 million to acquire a controlling stake in Hanmi Financial (Nasdaq: HAFC).

On the downside American Eagle Outfitters (NYSE: AEO) reported lower first quarter earnings and forecast second quarter results below analyst expectations.

GTx (Nasdaq: GTXI) reported that its prostate cancer treatment toremifene failed a late stage clinical study.

Sprott Physical Gold Trust (NYSE: PHYS) priced its offering of 21.6 million units at $11.25 per unit.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 650.

The markets recovered in late afternoon trading but still closed in negative territory with the Dow losing 22 points to 10,043 as investors weighed the effects of the increasing conflict between North and South Korea. Nasdaq slipped 2 points to 2210.

On the upside

Citigroup and Bank of America Merrill Lynch upgrade AK Steel (NYSE: AKS).

Sprint (NYSE: S) expanded ethernet access to 28 markets nationwide and 35 countries globally.

KioskCom awarded US Airways (NYSE: LCC) the 2010 Self-Service Excellence Award in "Best Travel/Hospitality Deployment" for expanding its self-service check-in kiosks.

On the downsideUIL Holdings (NYSE: UIL) will pay approximately $885 million to acquire three natural gas companies prompting Standard & Poor's Ratings Service to downgrade the utility company.

Navios Maritime Acquisition (NYSE: NNA) shareholders approved the purchase of 13 vessels for $457.7 million.

Dex One (NYSE: DEXO) improved its online search site with live Yelp and DexKnows ratings appearing on results and profile pages.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 640.

The escalating conflict between North and South Korea exacerbated global economic recovery concerns to send the markets tumbling during the midday with the Dow plunging 196 points to 9870. Nasdaq stumbled 44 points to 2169.

On the upside

The Food and Drug Adminstration approved Genzyme's (Nasdaq: GENZ) late-onset Pompe disease treatment Lumizyme.

Capstone Turbine (Nasdaq: CPST) introduced its CR200 Medium Btu microturbine product that meets the most stringent global emission requirements.

Dynegy (NYSE: DYN) entered a new $150 million credit facility with Morgan Stanley Capital Group.

On the downsideBank of America downgraded Arkansas Best (Nasdaq: ABFS) and cut its price target to $24 from $35 after the Teamsters rejected proposed wage cuts.

DiamondRock Hospitality (NYSE: DRH) will pay approximately $152 million to acquire Hilton Minneapolis. The real estate investment trust also announced an offering of 20 million common shares at $8.40 per share.

AAR (NYSE: AIR) forecast fourth quarter results that fell short of analyst estimates as demand remained weak.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 14 points to 627.

Escalating tensions between North and South Korea sent the markets tumbling to a lower open with the Dow plummeting 208 points to 9858. Nasdaq plunged 51 points to 2161.

On the upside

Neurocrine Biosciences (Nasdaq: NBIX) reported positive results from a Phase II Daisy PETAL study using elagolix in endometriosis patients.

Toshiba and Babcock & Wilcox Investment will invest $200 million in USEC (NYSE: USU).

On the downside

Citigroup (NYSE: C) introduced a service to help clients navigate new money market rules established by the Securities and Exchange Commission but the stock price dropped.

Dell (Nasdaq: DELL) announced the early June release in the UK of its Streak Tablet featuring built-in Wi-Fi, Bluetooth and available 3G connectivity with a late summer release in the US but the stock price fell.

The Food and Drug Administration approved Teva Pharmaceutical Industries' (Nasdaq: TEVA) generic version of the antiviral Valtrex but the stock price fell.

Wabash National (NYSE: WNC) priced its offering of more than 24 million shares of common stock at $6.50 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 11 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 626.

Persistent fears that European debt problems will expand weighed down the markets to a lower close with the Dow tumbling 126 points to 10,066. Nasdaq dropped 15 points to 2213.

On the upside

Hampton Roads Bankshares (Nasdaq: HMPR) announced a capital raise of $275 million.

Rodman & Renshaw analyst Lewis Fan lifted his price target for Origin Agritech (Nasdaq: SEED) saying that the bioengineered hybrid seed market should double by 2015.

Fourth quarter earnings for Longtop Financial Technologies (NYSE: LFT) slipped but the results topped analyst estimates.

On the downside

Preliminary results from a Navios Maritime (NYSE: NNA) shareholder vote indicated that shareholders are against the proposed vessel acquisition.

JP Morgan Chase lowered its earnings estimate and price target for Transocean (NYSE: RIG), owner of the Deepwater Horizon rig that exploded in the Gulf of Mexico.

Microsoft's (Nasdaq: MSFT) appeal of a verdict that the company infringed on Alcatel-Lucent's (NYSE: ALU) patent was rejected by the Supreme Court.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks eased dropped 8 points to 641.

Discussions between the U. S. and China at the Strategic and Economic Dialogue opened with China taking a more assertive stance on investment, currency and trade issues. The markets traded mixed during the midday with the Dow falling 47 points to 10,146 while Nasdaq rose 6 points to 2235.

On the upside

Morgan Stanley analyst Katy Huberty lifted her price target for Apple (Nasdaq: AAPL) to $310 from $275 citing expanding sales in China and said the stock may climb as high as $400.

Goldman Sachs upgraded Citigroup (NYSE: C) to a Buy rating .

A surprisingly strong gain in existing home sales lifted shares of Home Depot (NYSE: HD).

On the downside

Goldman Sachs downgraded Wells Fargo (NYSE: WFC).

Dynegy (NYSE: DYN) announced on Friday that shareholders approved a 1-for-5 reverse stock split to take effect on or about May 25, 2010.

Puerto Rican bank Popular (Nasdaq: BPOP) announced the resignation of chief executive David Chafey, Jr. effective immediately.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 648.

Existing home sales soared by a much larger than expected 7.6% but the markets opened mixed with the Dow losing 34 points to 10,159 while Nasdaq rose 8 points to 2237 over continued concerns about European debt.

On the upside

Gentiva Health Services (Nasdaq: GTIV) will pay approximately $1 billion in cash to acquire Odyssey Healthcare (Nasdaq: ODSY).

Goldman Sachs upgraded Sprint Nextel (NYSE: S) to a Buy rating and lifted its price target on the company from $3.50 to $6.

The Department of Energy awarded Capstone Turbine (Nasdaq: CPST) a $5 million contract to develop a more efficient microturbine.

On the downside

More than a month after the Deepwater Horizon explosion, BP (NYSE: BP) is still unable to contain the oil spill fouling the waters and wildlife in the Gulf of Mexico.

Dreamworks Animation's (Nasdaq: DWA) "Shrek Forever After" earned far less than expected at the box office on its opening weekend.

Shares of Banco Santander (NYSE: STD) fell after Goldman Sachs said that the restructuring of banks in Spain continues to be too slow .

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 646.

Passage of the Senate banking reform bill provided a measure of certainty with investors gaining enough confidence to lift the markets to a higher close with the Dow soaring 125 points to 10,193. Nasdaq leaped 25 points to 2229.

On the upside

Eagle Rock Energy (Nasdaq: EROC) unitholders approved the Global Transaction Agreement allowing the company to close the sale of its Minerals Business for $174.5 million.

Shares of Zale (NYSE: ZLC) rose ahead of its earnings release next week.

Shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) all rose after passage of the Senate banking reform bill provided certainty for investors to make informed decisions.

The Federal Trade Commission expects Apple's (Nasdaq: AAPL) mobile advertising network iAd to compete against Google (Nasdaq: GOOG) and therefore approved Google's acquisition of AdMob.

Moody's Investors Service lifted its outlook on Las Vegas Sands (NYSE: LVS) and affirmed its corporate rating on the casino operator.

On the downside

Micromet (Nasdaq: MITI) will provide updated results on several BiTE antibody development programs at two medical conferences in June.

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 gained 9 points to 649.

Rumors that Goldman Sachs is close to finalizing a settlement with the Securities and Exchange Commission lifted the markets higher during the midday with the Dow climbing 80 points to 10,135. Nasdaq soared 22 points to 2226.

On the upside

Keryx Biopharmaceuticals (Nasdaq: KERX) reported promising results from a midstage trial of its colorectal cancer treatment perifosine.

Fourth quarter earnings for Compuware (Nasdaq: CPWR) slipped but full year results rose.

Marvell Technology (Nasdaq: MRVL) reversed year ago losses to post a better than expected profit for the first quarter.

All Things Digital reported that Yahoo (Nasdaq: YHOO) will partner with Nokia (NYSE: NOK) to develop a phone using Yahoo applications.

On the downside

Brocade Communications (Nasdaq: BRCD) swung to a second quarter profit but revenue missed estimates.

First quarter earnings rose for Dell (Nasdaq: DELL) gross margin fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 648.

The European Union announced stricter finance rules to prevent further debt problems. The markets opened modestly higher with the Dow rising 19 points to 10,087. Nasdaq gained 10 points to 2214.

On the upside

Paypal cofounder and hedge fund manager Peter Thiel acquired shares of Trico Marine Services (Nasdaq: TRMA) in the first quarter.

Ann Taylor (NYSE: ANN) reversed year ago losses to post a profit for the first quarter as revenue rose.

On the downside

Shares of Antigenics (Nasdaq: AGEN) continued falling as investors questioned its latest Oncophage study.

Red Robin Gourmet Burgers (Nasdaq: RRGB) reported higher first quarter earnings but revenue fell short and the casual dining chain cut its full year guidance.

Celldex (Nasdaq: CLDX) reported mixed results from a midstage trial of its brain cancer vaccine.

Peregrine Pharmaceuticals (Nasdaq: PPHM) will present data from four clinical trials of its cancer treatments at the 2010 ASCO Annual Meeting in June.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 13 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 641.

Renewed fears that European debt problems will hinder the global economic recovery sent the markets into a tailspin with the Dow plummeting 376 points to 10,068. Nasdaq sank 94 points to 2204.

On the downside

In an antitrust suit against General Electric (NYSE: GE), Mitsubishi accused General Electric of making meritless patent infringement claims against the company and monopolizing the wind turbine market.

Wells Fargo (NYSE: WFC) introduced a new student loan program with no origination fees or early payment fees.

The Motley Fool investment community rated Wave Systems (Nasdaq: WAVX) a one star stock out of five stars.

FormFactor (Nasdaq: FORM) announced that chief executive Mario Ruscev and chief financial officer Jean Bernard Vernet both resigned effective immediately.

Gilead (Nasdaq: GILD) spent $480,000 in the first quarter to lobby the federal government.

Dell (Nasdaq: DELL) reported higher first quarter earnings as revenue rose but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 10 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks skidded 34 points to 640.

Falling Euro Drags Down Markets

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The euro fell again to drag down the markets with the Dow slumping 312 points to 10,132. Nasdaq plummeted 88 points to 2209.

On the upside

China Techfaith Wireless Communication Technology (Nasdaq: CNTF) reported sharply higher first quarter earnings as revenue surged.

First quarter earnings for Children's Place (Nasdaq: PLCE) rose to beat expectations as revenue climbed prompting the children's clothing retailer to lift its full year outlook.

On the downside

Wabash National (NYSE: WNC) announced plans to offer 11 million common shares.

A sharp drop in mortgage applications weighed down shares of mortgage insurer Ambac Financial (NYSE: ABK).

New York & Co. (NYSE: NWY) reported a first quarter loss and warned that second quarter losses will widen.

Strategic Hotels & Resorts (NYSE: BEE) closed its offering of 75.9 million common shares.

In the broad market, declining issues outpaced advancers by a margin of more than 11 to 1 on the NYSE and by 13 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 27 points to 646.

An unexpected gain in first time jobless claims sent the markets tumbling to a sharply lower open with the Dow plummeting 257 points to 10,187. Nasdaq slumped 68 points to 2229.

On the upside

Aruba Networks (Nasdaq: ARUN) narrowed third quarter losses more than expected as revenue climbed and forecast fourth quarter results ahead of estimates.

Advanced Auto Parts (NYSE: AAP) reported higher first quarter income that beat expectations as sales rose.

Fourth quarter earnings rose to surpass analyst estimates for Dollar Tree (Nasdaq: DLTR).

On the downside

Antigenics (Nasdaq: AGEN) announced positive results from a clinical trial of its brain cancer vaccine Oncophage but the stock price fell.

Netease (Nasdaq: NTES) disappointed with first quarter results that fell short of expectations.

Hot Topic (Nasdaq: HOTT) swung to a loss for the first quarter due to a drop in revenue.

In the broad market, declining issues outpaced advancers by a margin of more than 13 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 21 points to 653.

The Federal Reserve lifted its growth forecast for the economy but the markets closed lower over continued concerns about European debt. The Dow dropped 66 points to 10,444 while Nasdaq fell 18 points to 2298.

On the upside

US Airways Group (NYSE: LCC) chief executive Doug Parker reassured investors that the airliner was on firm financial footing and does not need to merge in order to survive.

First quarter earnings for Global Sources (Nasdaq: GSOL) more than doubled as the company cut costs.

DHT Holdings (NYSE: DHT) swung to a greater than expected loss but investors welcomed the announcement of a dividend of 10 cents per share payable on June 8, 2010 to shareholders of record May 31, 2010.

On the downside

comScore reported that online spending dropped in April weighing down shares of eBay (Nasdaq: EBAY).

Symantec (Nasdaq: SYMC) will pay approximately $1.28 billion in cash to acquire VeriSign's website security unit.

The Treasury Department announced an auction of 110.3 million Wells Fargo (NYSE: WFC) warrants.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 674.

The markets traded lower during the midday with the Dow falling 60 points to 10,450 as mortgage applications tumbled to the lowest volume in thirteen years. Nasdaq lost 12 points to 2304.

On the upside

ChipMOS Technologies (Nasdaq: IMOS) reversed year ago losses to post a profit for the first quarter as revenue surged.

BJ's Wholesale Club (NYSE: BJ) reported higher first quarter income that topped analyst estimates and raised its outlook for the full year.

Caris & Co. upgraded DreamWorks (Nasdaq: DWA) to a Buy rating.

Shares of Visa (NYSE: V) recovered after falling for two days over concerns that new fee regulations will hurt revenue.

On the downside

Denny's (Nasdaq: DENN) shareholders will decide whether to oust chief executive Nelson Marchioli, board chair Debra Smithart-Oglesby and former chair Robert Marks or maintain the current board.

The Wall Street Journal reported that Apple's (Nasdaq: AAPL) iPhone took 72% of the smartphone market in Japan but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 676.

A drop in April consumer prices raised concerns about the economic recovery. The markets opened lower with the Dow plummeting 123 points to 10,387 while Nasdaq plunged 32 points to 2284.

On the upside

The Wall Street Journal reported that both Georgia Pacific and Rank Group joined Apollo Management in a bidding war for Pactive (NYSE: PTV).

Second quarter earnings for Analog Devices (NYSE: ADI) more than tripled to beat expectations as revenue soared and the chip maker forecast current quarter results ahead of estimates.

MGIC Investment (NYSE: MTG) wrote $800 million in new insurance in the month of April.

On the downside

While Chico's FAS (NYSE: CHS) reported first quarter earnings that more than doubled, investors were disappointed that the company merely met analyst expectations.

Bank of America (NYSE: BAC) will sell its $4.5 billion stake in Brazil's Itau Unibanco (NYSE: ITUB).

First quarter earnings for China Architectural Engineering (Nasdaq: CAEI) plunged as revenue sank.

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 slipped 2 points to 679.

The euro tumbled to a four year low sending the markets down to a sharply lower close with the Dow plummeting 114 points to 10,510. Nasdaq plunged 36 points to 2317.

On the upside

Craft Brewers Alliance (Nasdaq: HOOK) swung to a first quarter profit.

First quarter earnings for Perfect World (Nasdaq: PWRD) surged as revenue jumped.

B. Riley upgraded K-Swiss (Nasdaq: KSWS) to a Buy rating.

On the downside

China Nepstar Chain Drugstore (NYSE: NPD) blamed expenses from 104 store openings for sharply lower first quarter earnings.

Resource Capital (NYSE: RSO) will offer approximately $80 million in stock.

Visa (NYSE: V) chief executive Joe Saunders said that proposed regulations on debit card fees may lead to fewer debit transactions.

In the broad market, declining issues outpaced advancers 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 tumbled 12 points to 682.

Sliding Euro Weighs Down Stocks

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The markets turned negative during the midday with the Dow losing 34 points to 10,590 as the euro continued to slide. Nasdaq fell 21 points to 2332.

On the upside

Spreadtrum Communications (Nasdaq: SPRD) reversed year ago losses to post a first quarter profit as revenue surged.

Citi Investment Research analyst Josh Levin upgraded Beazer Homes (NYSE: BZH) to a Buy rating saying that recent drops in the stock price made it a value.

Hedge fund Paulson & Co. purchased 4 million shares of Boyd Gaming (NYSE: BYD).

On the downside

Agilent Technologies (NYSE: A) swung to a profit for the second quarter and lifted its full year guidance but the stock price fell.

First quarter earnings more than doubled for Dick's Sporting Goods (NYSE: DKS) but the retailer forecast disappointing second quarter results.

RBC Capital Markets downgraded Whiting USA (NYSE: WHX) to an underperform rating.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 692.

A better than expected gain in new home construction lifted the markets to a higher open with the Dow climbing 55 points to 10,681. Nasdaq rose 5 points to 2359.

On the upside

Forest Laboratories (NYSE: FRX) announced a stock repurchase plan for up to 50 million common shares.

MGM Mirgae (NYSE: MGM) countersued Perini Building Co. for defective work and mishandled billing related to the new CityCenter resort in Las Vegas.

First quarter earnings for Sina (Nasdaq: SINA) more than doubled to surpass expectations due to an investment gain.

On the downside

Ambac (NYSE: ABK) widened first quarter losses.

A consortium negotiating to acquire Fidelity National Services (NYSE: FIS) ended discussions to purchase the payment processor.

Aegean Marine Petroleum (NYSE: ANW) announced an offering of 4 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 705.

The markets recovered earlier losses in late afternoon trading to close near the flatline with the Dow adding 5 points to 10,625 as investors snapped up bargains. Nasdaq rose 7 points to 2354.

On the upside

Virtual Radiologic (Nasdaq: VRAD) will be taken private by Providence Equity Partners in a deal valued at approximately $294 million.

Deer Consumer Products (Nasdaq: DEER) lifted its full year guidance and announced a $20 million stock repurchase plan.

Sonus Networks (Nasdaq: SONS) introduced its NBS-5200 Network Border Switch for its next generation ConnexIP platform.

On the downside

Terra Nova Royalty (NYSE: TTT) disappointed with a first quarter loss.

Patriot Coal (NYSE: PCX) will increase the number of common shares from 100 million to 300 million.

Investors locked in profits on Hauppage Digital, (Nasdaq: HAUP) whose shares surged Thursday and Friday over the company's tuner board for streaming live TV to the iPad, iPhone and iPod touch.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 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 695.

Falling Euro Fuels Fears

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The falling euro fueled fears of a stalled economic recovery sending the markets down during the midday with the Dow tumbling 101 points to 10,518. Nasdaq dropped 20 points to 2326.

On the upside

ARCA biopharma (Nasdaq: ABIO) reached an agreement with the Food and Drug Administration over the design of a clinical trial for the company's beta-blocker bucindolol.

Pacific Capital Bancorp (Nasdaq: PCBC) announced a tender offer for all outstanding trust preferred securities and subordinated debt securities.

The European Medicines Agency granted orphan drug status to Aeterna Zentaris' (Nasdaq: AEZS) ovarian cancer treatment AEZS-108.

On the downside

RINO International (Nasdaq: RINO) reported higher first quarter earnings and revenue but the stock price fell.

BPZ Resources (NYSE: BPZ) will provide Petroleos del Peru with 400,000 barrles of oil.

Astrotech (Nasdaq: ASTC) swung to a third quarter loss.

In the broad market, declining issues outpaced advancers 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 dropped 12 points to 681.

The markets opened mixed with the Dow losing 28 points to 10,591 while Nasdaq added 2 points to 2348 over mixed earnings and the possibility of further airport closures due to volcanic eruptions in Iceland.

On the upside

Man Group will pay approximately $1.6 billion in cash and stock to acquire GLG Partners (Nasdaq: GLG).

The Wall Street Journal reported that Pactiv (Nasdaq: PTV) may be acquired by private equity firm Apollo Global Management.

Universal Health Services (NYSE: UHS) will acquire Psychiatric Solutions (Nasdaq: PSYS) in a deal valued at approximately $3.1 billion including the assumption of $1.1 billion in debt.

On the downside

Perfect World (Nasdaq: PWRD) reported higher first quarter results but forecast disappointing second quarter revenue.

While Lowe's (NYSE: LOW) reported higher first quarter income that topped analyst estimates, the home improvement store forecast second quarter earnings that fell short of expectations.

Massey Energy (NYSE: MEE) will declassify its board of directors.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 699.

Concerns that European spending cuts will halt the global economic recovery sent the markets tumbling to a sharply lower close with the Dow skidding 162 points to 10,620. Nasdaq plunged 47 points to 2346.

On the upside

Caris & Co. initiated coverage of Yahoo (Nasdaq: YHOO) with a Buy rating.

On the downside

First quarter earnings for China Electric Motor (Nasdaq: CELM) fell due to initial public offering expenses.

Cumberland Pharmaceuticals (Nasdaq: CPIX) reported sharply lower first quarter earnings as expenses rose.

BP (NYSE: BP) extended its losses as efforts to stop the oil flow from the Deepwater Horizon rig in the Gulf of Mexico fail again.

Shares of Citigroup (NYSE: C), Bank of America, (NYSE: BAC) and Morgan Stanley (NYSE: MS) all fell after the Wall Street Journal reported that the Securities and Exchange Commission launched an investigation into deceptive banking practices.

Investors locked in profits on InfoLogix (Nasdaq: IFLG), which announced on Wednesday a strategic partnership with Wavelink to provide voice-enabled mobile solutions to SAP transactions.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 15 points to 693.

The markets extended its losses during the midday with the Dow plummeting 196 points to 10,586 as investors worry that steep spending cuts in Europe will stall the global economic recovery. Nasdaq sank 59 points to 2334.

On the upside

Ultralife (Nasdaq: ULBI) received $21 million in orders for its SATCOM-On-The-Move communications technology.

On the downside

Strategic Hotels & Resorts (NYSE: BEE) will offer 66 million common shares at $4.60 per share.

Shares of Banco Santander (NYSE: STD) fell after Spain announced spending cuts.

An appeals court will allow Dish Network (Nasdaq: DISH) and EchoStar (Nasdaq: SATS) to present their case again in TiVo's (Nasdaq: TIVO) patent infringement suit against the two companies.

Sinovac Biotech (Nasdaq: SVA) swung to a first quarter loss as vaccine sales fell.

Telestone Technologies (Nasdaq: TSTC) reported higher first quarter earnings as revenue rose but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 18 points to 691.

Despite a greater than expected gain in April retail sales, the markets opened lower with the Dow sinking 117 points to 10,665 over concerns that European spending cuts will halt the global economic recovery. Nasdaq plunged 41 points to 2353.

On the upside

Merit Medical Systems (Nasdaq: MMSI) will pay approximately $96 million to acquire BioSphere Medical (Nasdaq: BSMD).

First quarter earnings for Dillard's (NYSE: DDS) surged to beat expectations by a wide margin as margins improved.

Hauppauge (Nasdaq: HAUP) introduced its tuner board to stream live TV to Apple's iPad, iPhone and iPod touch.

On the downside

Although Nvidia (Nasdaq: NVDA) swung to a first quarter profit, the company forecast disappointing revenue for the current quarter.

CA (Nasdaq: CA) disappointed with fourth quarter results that missed expectations.

A Senate amendment lowering debit card fees weighed down shares of Visa (NYSE: V) and Master Card (NYSE: MA).

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 697.

The markets tumbled to close sharply lower with the Dow plunging 113 points to 10,782 in reaction to a Wall Street Journal article revealing a federal investigation into the deceptive practices of major banks when they sold mortgage backed securities. Nasdaq plummeted 30 points to 2394.

On the upside

Hauppauge Digital (Nasdaq: HAUP) introduced its tuner boards to stream live TV to Apple's (Nasdaq: AAPL) iPad, iPhone and iPod touch.

Speedus (Nasdaq: SPDE) subsidiary Zargis Medical was selected by the Army's Telemedicine & Advanced Technology Research Center to present their medical devices at the American Telemedicine Association Conference.

Shares of InfoLogix (Nasdaq: IFLG) continued to surge after the company announced yesterday a strategic partnership with Wavelink to provide voice-enabled mobile solutions for SAP transactions.

On the downside

China Yuchai International (NYSE: CYD) reported higher first quarter income and revenue but the stock price dropped.

Cogdell Spencer (NYSE: CSA) priced its offering of 6.5 million shares at $7 per share.

O'Charley's (Nasdaq: CHUX) swung to a greater than expected loss for the first quarter and provided no guidance for the full year.

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 fell 6 points to 709.

Markets Flat At Midday

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The markets traded near the flatline during the midday with the Dow adding a point to 10,898 even as mortgage rates fell. Nasdaq slipped 5 points to 2419.

On the upside

China Direct Industries (Nasdaq: CDII) signed a twelve month contract to supply a trading and refining company with manganese ore.

A new Sprint (NYSE: S) prepaid wireless plan will be offered by Wal-Mart (NYSE: WMT) prompting Raymond James to upgrade Sprint.

Oppenheimer & Co. upgraded Teradata (NYSE: TDC) to an Outperform rating.

On the downside

Con-way (NYSE: CNW) announced an offering of 4.3 million common shares.

Prestige Brand Holdings (NYSE: PBH) swung to a fourth quarter profit but the results fell short of expectations as expenses climbed.

VanceInfo Technologies (NYSE: VIT) reported higher first quarter earnings but forecast disappointing second quarter revenue.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 713.

First time applications for unemployment benefits fell less than expected to weigh the markets down to a lower open with the Dow slipping 19 points to 10,877. Nasdaq edged up a fraction to 2425.

On the upside

AuthenTec (Nasdaq: AUTH) widened first quarter losses but revenue climbed to beat analyst expectations.

Wedbush Morgan upgraded Dynavax Technologies (Nasdaq: DVAX).

Second quarter earnings more than doubled for Whole Foods (Nasdaq: WFMI) to top analyst estimates as revenue rose.

On the downside

FBR Capital downgraded RAIT Financial Trust (NYSE: RAS).

Western Gas Partners (NYSE: WES) priced its offering of 4 million common units at $22.24 per unit.

Ramco-Gershenson (NYSE: RPT) priced its offering of 6 million common shares at $11.50 per share.

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 4 points to 712.

Investors welcomed Spain's plan to cut government jobs and wages in order to reign in spending. The markets closed higher with the Dow surging 144 points to 10,896 while Nasdaq jumped 49 points to 2425.

On the upside

InfoLogix (Nasdaq: IFLG) partnered with Wavelink to offer voice-enabled mobile solutions for SAP transactions.

The Food and Drug Administration approved Metabolix's (Nasdaq: MBLX) Mirel F1005 and F1006 for non-alcoholic food contact applications.

SAP is about ready to close a deal to acquire Sybase (NYSE: SY) for approximately $6 billion.

Fourth quarter earnings for inTEST (Nasdaq: INTT) surged as revenue climbed.

On the downside

Team Health Holdings (NYSE: TMH) blamed one-time charges for sharply lower first quarter earnings.

Walt Disney (NYSE: DIS) reported higher second quarter earnings as the company's movie revenue rose but amusement park and televison income disappointed.

In the broad market, advancing issues outpaced decliners 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 leaped 20 points to 716.

The markets advanced during the midday with the Dow soaring 141 points to 10,889 as strong exports renewed confidence in the economic recovery. Nasdaq surged 41 points to 2416.

On the upside

Exelixis (Nasdaq: EXEL) widened first quarter losses due to a restructuring charge but revenue surged.

KBW analysts said that changes to classification rules for companies headquartered outside of the U. S. will allow XL Capital (NYSE: XL), which is moving its headquarters to Ireland, to remain on the S&P 500.

S&P Equity Research upgraded Eastman Kodak (NYSE: EK).

On the downside

NGAS Resources (Nasdaq: NGAS) priced its offering of 3.96 million units at $1.31 per unit.

Ambac Financial (NYSE: ABK) warned of a $750 million loss for the first quarter.

Brookdale Senior Living (NYSE: BKD) announced a secondary offering of 10 million shares of common stock.

In the broad market, advancing issues outpaced decliners 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 soared 13 points to 709.

A strong gain in exports lifted the markets to a higher open with the Dow climbing 95 points to 10,843. Nasdaq soared 31 points to 2406.

On the upside

The Food and Drug Administration approved Aeterna Zentaris' (Nasdaq: AEZS) Investigational New Drug application for its bladder cancer treatment doxorubicin targeted conjugate compound AEZS-108.

First quarter earnings for Ctrip.com (Nasdaq: CTRP) beat analyst estimates.

Delta Air Lines (NYSE: DAL) will add more flights from New York to nearly thirty cities around the world.

On the downside

Electronic Arts (Nasdaq: ERTS) forecast a greater than expected loss for the current quarter.

SunPower (Nasdaq: SPWRA) swung to a profit for the first quarter but results fell short of expectations.

The Wall Street Journal reported that Morgan Stanley (NYSE: MS) was being investigated for misleading investors.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 705.

The markets retreated in late afternoon trading to close lower with the Dow losing 36 points to 10,748 investors began questioning the effectiveness of the $1 trillion Eurpean Union bailout package. Nasdaq added a fraction to 2375.

On the upside

Zoltek (Nasdaq: ZOLT) swung to a loss for the second quarter but expects orders from key clients to improve in the second half of the year.

Shares of Netlist (Nasdaq: NLST) rose ahead of its earnings release after market close.

Electronic Arts (Nasdaq: ERTS) swung to a fourth quarter profit as revenue surged.

On the downside

ReneSola (NYSE: SOL) swung to a first quarter profit but the results fell short of expectations.

BWS Financial downgraded Imperial Sugar (Nasdaq: IPSU) to a Sell rating.

Rocky Brands (Nasdaq: RCKY) priced its offering of 1.8 million common shares at $8.40 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 695.

Wholesale sales climbed more than expected to lift the markets higher during the midday with the Dow rising 46 points to 10,831 as wholesale inventories rose less than expected. Nasdaq gained 20 points to 2395.

On the upside

Maguire Properties (NYSE: MPG) reported better than expected first quarter funds from operations.

Rising gold prices lifted shares of Goldcorp (NYSE: GG), Kinross Gold (NYSE: KGC) and Iamgold (NYSE: IAG).

First quarter earnings for Maidenform (NYSE: MFB) doubled as revenue climbed.

On the downside

BPZ Resources (NYSE: BPZ) reported a loss for the first quarter.

VisionChina Media (Nasdaq: VISN) swung to a first quarter loss as revenue fell.

Quicksilver Gas (NYSE: KGS) reported lower first quarter earnings as expenses rose.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 698.

The markets opened lower with the Dow slipping 30 points to 10,754 as wholesale inventories rose less than expected. Nasdaq lost 6 points to 2368.

On the upside

Legg Mason (NYSE: LM) reversed year ago losses to post a better then expected profit for the fourth quarter and announced a restructuring plan .

Deutsche Bank upgraded MetroPCS (NYSE: PCS) to a Buy rating.

First quarter earnings for Fossil (Nasdaq: FOSL) surged to beat expectations by a wide margin prompting the watch maker to lift its second quarter as well as its full year outlook.

On the downside

Priceline.com (Nasdaq: PCLN) reported higher first quarter earnings but warned that second quarter results may disappoint after a volcano eruption in Iceland grounded flights.

MBIA (NYSE: MBI) disappointed by swinging to a first quarter loss.

Strategic Hotels & Resorts (NYSE: BEE) will offer 40 million common shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 685.

The European Union unveiled a $1 trillion plan to contain its financial crisis sparking a buying frenzy with the Dow roaring 404 points to 10,785. Nasdaq leaped 109 points to 2374.

On the upside

Poniard Pharmaceuticals (Nasdaq: PARD) narrowed first quarter losses.

Novavax (Nasdaq: NVAX) widened first quarter losses as flu research spending surged but revenue rose.

Oppenheimer upgraded Rubicon Technology (Nasdaq: RBCN).

CPI International (Nasdaq: CPII) will be acquired by Comtech Telecommunications (Nasdaq: CMTL) for approximately $289 million in cash and stock.

Roth Capital initiated coverage of Telestone Technologies (Nasdaq: TSTC) with a Buy rating.

Shares of M/I Homes (NYSE: MHO) rose ahead of its presentation at the 9th Annual JMP Securities Research Conference tomorrow.

In the broad market, advancing issues outpaced declinrs by a margin of 10 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 36 points to 689.

The markets soared during the midday with with the Dow jumping 355 points to 10,735 as investors embraced the European Union's $1 trillion rescue package. Nasdaq surged 90 points to 2356.

On the upside

Encorium Group (Nasdaq: ENCO) landed $6.8 million worth of new business contracts.

Jefferies & Co. analyst William Choi expects Cisco (Nasdaq: CSCO) to beat analyst expectations when the company releases third quarter results after markets close on Wednesday.

Las Vegas Sands (NYSE: LVS) declared a quarterly dividend of $2.50 per share of its Series A preferred stock payable on May 17, 2010.

On the downside

China Natural Gas (Nasdaq: CHNG) disappointed with sharply lower first quarter earnings.

Bernstein Research analyst Craig Moffett downgraded Comcast (Nasdaq: CMCSA).

BP (NYSE: BP) has spent $350 million to date to clean up the Deepwater Horizon oil spill.

In the broad market, advancing issues outpaced declinrs by a margin of nearly 12 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 27 points to 680.

The European Union announced a $1 trillion financial rescue package sending the markets soaring with the Dow rocketing 362 points to 10,742. Nasdaq leaped 94 points to 2360.

On the upside

Shares of European banks Banco Santander (NYSE: STD), Allied Irish Banks (NYSE: AIB) and Barclays (NYSE: BCS) all surged after the European Union announced a $1 trillion financial rescue plan.

Tower Semiconductor (Nasdaq: TSEM) subsidiary TowerJazz announced the availability of design kits for its next generation 130nm SiGe BiCMOS technology for high volume consumer RF applications.

Sirius XM Radio (Nasdaq: SIRI) was upgraded after it reported a profit of a penny per share last week.

On the downside

First quarter earnings for Dean Foods (NYSE: DF) plunged and the company suspended its outlook for the full year.

Psychiatric Solutions (Nasdaq: PSYS) reported higher first quarter earnings that topped estimates but the stock price fell.

Morgan Joseph downgraded DragonWave (NYSE: DRWI) on Friday.

In the broad market, advancing issues outpaced declinrs by a margin of more than 15 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 31 points to 684.

Investors still jittery over yesterday's steep plunge sent the markets tumbling today to close sharply lower with the Dow plummeting 139 points to 10,380. Nasdaq sank 54 points to 2265.

On the upside

Merge Healthcare (Nasdaq: MRGE) reported a loss for the first quarter due to acquisition related costs but revenue surged.

Biodel (Nasdaq: BIOD) narrowed second quarter losses.

Gramercy Capital (NYSE: GKK) narrowed first quarter losses.

On the downside

First quarter earnings for Energy Recovery (Nasdaq: ERII) tumbled.

Scientific Games (Nasdaq: SGMS) swung to a first quarter profit but the results missed estimates.

Sotheby's (NYSE: BID) narrowed first quarter losses more than expected but revenue fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 19 points to 653.

Rising unemployment along with continued concerns about European debt weighed down the markets during the midday with the Dow falling 70 points to 10,449. Nasdaq tumbled 32 points to 2287.

On the upside

CGI Group will pay approximately $903 million in cash to acquire Stanley (NYSE: SXE).

Newcastle Investment (NYSE: NCT) swung to a first quarter profit.

Borders Group (NYSE: BGP) announced that pre-orders are now being accepted for its Kobo eReader with the eBook store and apps launching next month.

On the downside

Although DragonWave (Nasdaq: DRWI) reversed year ago losses to post a profit for the fourth quarter, earnings fell short of expectations.

Leap Wireless International (Nasdaq: LEAP) blamed higher expenses for widening first quarter losses more than expected.

Harmonic (Nasdaq: HLIT) swung to a first quarter profit but revenue fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 662.

An increase in the nation's unemployment rate sent the markets down to a lower open with the Dow losing 45 points to 10,475. Nasdaq dropped 29 points to 2290.

On the upside

Chimera Investment (NYSE: CIM) reported higher first quarter earnings.

Crocs (Nasdaq: CROX) reversed year ago losses to post a better than expected profit for the first quarter and forecast second quarter results ahead of estimates.

First quarter earnings more than doubled for Activision Blizzard (Nasdaq: ATVI) to beat expectations by a wide margin as revenue surged.

On the downside

Trico Marine (Nasdaq: TRMA) reported a first quarter loss that was much wider than expected and warned that it may fail to be in compliance with its debt covenants.

First quarter earnings for Hansen Natural (Nasdaq: HANS) dropped to fall short of expectations as sales slipped.

Genoptix (Nasdaq: GXDX) blamed higher expenses for lower first quarter earnings that missed estimates by a wide margin.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners were on par with advancers on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 673.

Renewed concerns about expanding debt problems in Europe sparked a sharp sell-off in the late afternoon to send the Dow collapsing nearly 1,000 points before rebounding to close down 347 points to 10,520. Nasdaq skidded 82 points to 2319.

On the upside

Commercial Vehicle Group (Nasdaq: CVGI) reversed year ago losses to post a profit for the first quarter.

First quarter earnings for Titanium Metals (NYSE: TIE) slipped but revenue rose.

Polypore International (NYSE: PPO) reported higher first quarter earnings as revenue surged.

On the downside

NCI (Nasdaq: NCIT) reported higher first quarter income but revenue fell short of expectations.

Aviat Networks (Nasdaq: AVNW) disappointed with a third quarter loss as revenue dropped.

Great Atlantic & Pacific Tea Company (NYSE: GAP) widened first quarter losses as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of 10 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slumped 26 points to 672.

First time applications for unemployment benefits fell less that expected sending the markets tumbling during the midday with the Dow plummeting 232 points to 10,635. Nasdaq plunged 58 points to 2343.

On the upside

Although Clearwire (Nasdaq: CLWR) widened first quarter losses, the results were better than expected and revenue surged to top estimates.

The Wall Street Journal reported that Blackstone Group (NYSE: BX) entered discussions to acquire Fidelity National Information Services (NYSE: FIS).

Magna International (NYSE: MGA) reversed year ago losses to post a better than expected profit for the first quarter.

On the downside

Although first quarter earnings for Tekelec (Nasdaq: TKLC) rose to top estimates, the company warned that full year results will fall short due to acquisition costs.

Pilgrim's Pride (NYSE: PPC) narrowed first quarter losses but revenue fell.

First quarter earnings for Hill International (NYSE: HIL) tumbled.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 680.

Weak April retail sales weighed down the markets to a lower open with the Dow losing 21 points to 10,847. Nasdaq slipped 3 points to 2399.

On the upside

HealthTronics (Nasdaq: HTRN) will be acquired by Endo Pharmaceuticals (Nasdaq: ENDP) for approximately $223 million.

The Food and Drug Administration granted orphan drug designation to Aeterna Zentaris' (Nasdaq: AEZS) ovarian cancer treatment AEZS-108, which will provide seven years of market exclusivity.

First quarter earnings for MetroPCS (NYSE: PCS) fell but revenue climbed to beat expectations due to a surge in new subscribers.

On the downside

Although JDS Uniphase (Nasdaq: JDSU) narrowed third quarter losses, revenue fell short of expectations.

Alcatel-Lucent (NYSE: ALU) disappointed by widening first quarter losses more than expected as revenue dropped.

Sales at stores open more than a year dropped by a greater than expected 7% for Abercrombie & Fitch (NYSE: ANF).

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 700.

Investors concerned that the $144 billion bailout package for Greece is insufficient to avoid bankruptcy sent the markets down to a lower close with the Dow falling 58 points to 10,868. Nasdaq dropped 21 points to 2402.

On the upside

Dolan Media (NYSE: DM) reported higher first quarter earnings as revenue rose.

First quarter earnings for DG FastChannel (Nasdaq: DGIT) surged to surpass expectations by a wide margin as revenue climbed.

Ternium (NYSE: TX) reversed year ago losses to post a better than expected profit for the first quarter.

On the downside

Central European Media Enterprises (Nasdaq: CETV) disappointed with first quarter earnings that tumbled to fall far short of expectations.

Higher revenue lifted second quarter earnings for Sirona Dental Systems (NYSE: SIRO) but the stock price tumbled.

First quarter earnings for Comfort Systems (NYSE: FIX) plunged to miss estimates by a wide margin as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 698.

The markets pared its losses during the midday but continued to trade under water with the Dow losing 27 points to 10,899 as European debt concerns weighed on investors. Nasdaq fell 13 points to 2411.

On the upside

SenoRx (Nasdaq: SENO) will be acquired by CR Bard (NYSE: BCR) in a deal valued at approximately $213 million.

American Capital (Nasdaq: ACAS) reversed year ago losses to post a profit for the first quarter.

First quarter earnings for Conseco (NYSE: CNO) rose to top analyst estimates.

On the downside

First quarter earnings for Tandem (Nasdaq: TNDM) slipped to fall short of expectations.

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

Although The Phoenix Companies (NYSE: PNX) swung to a first quarter profit, the results fell far short of expectations.

In the broad market, declining issues outpaced advancers 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 dropped 7 points to 702.

Moody's Investor Services warned that Portugal's debt rating may be downgraded sending the markets down to a lower open with the Dow falling 56 points to 10,870. Nasdaq dropped 22 points to 2402.

On the upside

First quarter earnings for Vonage (NYSE: VG) more than doubled as revenue rose.

American Medical Systems (Nasdaq: AMMD) reported higher first quarter earnings that topped analyst estimates and lifted its full year outlook prompting an upgrade.

Esco Technologies (NYSE: ANN) posted a sharp drop in second quarter earnings but reported a record backlog in orders.

On the downside

The Food and Drug Administration rejected InterMune's (Nasdaq: ITMN) lung scarring treatment pirfenidone.

Third quarter revenue and earnings for Myriad Genetics (Nasdaq: MYGN) fell short of expectations.

Garmin (Nasdaq: GRMN) disappointed with lower first quarter earnings and revenue that missed estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 696.

Concerns that the European debt crisis will extend beyond Greece sent the markets into a tailspin with the Dow plummeting 225 points to close at 10,926. Nasdaq slumped 74 points to 2424.

On the upside

The Corporate Executive Board Company (Nasdaq: EXBD) reported lower first quarter earnings but the company lifted its outlook for 2010.

First quarter earnings surged for Cabela (NYSE: CAB) as revenue soared.

Ann Taylor (NYSE: ANN) cited strong sales for raising its first quarter forecast above analyst estimates.

On the downside

Hologic (Nasdaq: HOLX) reversed year ago losses to post a second quarter profit that met expectations and forecast third quarter results below estimates prompting a downgrade.

Domino's Pizza (NYSE: DPZ) reported higher first quarter earnings that beat expectations but the stock price fell.

Westlake Chemical (NYSE: WLK) disappointed with first quarter earnings that fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 22 points to 710.

The markets extended its losses during the midday with the Dow collapsing 231 points to 10,920 over fears that despite the European aid package, Greece will still default. Nasdaq skidded 74 points to 2424.

On the upside

Akorn (Nasdaq: AKRX) reversed year ago losses to post a profit for the first quarter as expenses dropped and the company lifted its core business revenue guidance.

The Phoenix Companies (NYSE: PNX) swung to a first quarter profit as revenue rose.

Vivus (Nasdaq: VVUS) reported that its experimental weight loss medication Qnexa also lowered blood pressure in patients.

On the downside

Alvarion (Nasdaq: ALVR) disappointed with a loss for the first quarter and announced a 20% reduction in its workforce.

Technitrol (NYSE: TNL) swung to a first quarter loss as revenue fell.

Actuate (NYSE: ACTU) reported lower first quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 22 points to 710.

Concerns that the $146.5 billion European aid package for Greece would not be enough to keep the country afloat sent the markets tumbling to a sharply lower open with the Dow plummeting 150 points to 11,001. Nasdaq slumped 57 points to 2441.

On the upside

Despite reporting an unexpected first quarter loss, analysts upgraded Powerwave Technologies (Nasdaq: PWAV) citing an improved outlook.

First quarter earnings and revenue for Nutrisystem (Nasdaq: NTRI) surpassed expectations.

Shares of CombinatoRx (Nasdaq: CRXX) continued soaring after a MarketWatch commentary yesterday spotlighted the biopharmaceutical and suggested that it may be an acquisition target.

On the downside

LeapFrog (NYSE: LF) narrowed first quarter losses as revenue surged but the results fell short of expectations.

Beazer Homes (NYSE: BZH) swung to a second quarter profit but the homebuilder also announced an offering of 12.5 million common shares.

Radian (NYSE: RDN) widened first quarter losses and announced an offering of $550 worth of stock.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 715.

A $3 billion consolidation deal between United and Continental Airlines boosted investor enthusiasm lifting the markets to a sharply higher close with the Dow soaring 143 points to 11,151. Nasdaq surged 37 points to 2498.

On the upside

New York Stock Exchange notified Ambac Financial (NYSE: ABK) that it regained compliance with the minimum listing requirement of $1.00 per share.

Administaff (NYSE: ASF) surprised with a first quarter profit.

Seanergy Maritime (Nasdaq: SHIP) signed a letter of intent to acquire a 51% interest in Maritime Capital Shipping.

On the downside

CapitalSource (NYSE: CSE) widened first quarter losses more than expected as loan loss provisions climbed.

Smithtown Bancorp (Nasdaq: SMTB) disappointed with a loss for the first quarter.

Agilysys (Nasdaq: AGYS) lowered its sales outlook for the fourth quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 732.

A $146.5 billion aid package for Greece eased bankruptcy concerns to lift the markets higher during the midday with the Dow leaping 164 points to 11,173. Nasdaq jumped 41 points to 2502.

On the upside

Preferred Bank (Nasdaq: PFBC) reversed year ago losses to post a first quarter profit.

Raptor Pharmaceutical (Nasdaq: RPTP) reported upbeat results from a midstage clinical trial of its liver disease treatment.

A chemical compound made by Nalco (NYSE: NLC) that breaks down oil is being tested on the Deepwater Horizon oil spill in the Gulf of Mexico.

On the downside

Gaylord Entertainment (NYSE: GET) blamed Tennessee floods for withdrawing its guidance for 2010.

Bank of Florida's (NYSE: BOFL) subsidiary banks have all failed to raise funds for adequate capitalization and face regulatory seizure.

Encore Energy Partners (NYSE: ENP) announced after market close on Friday that it was exploring the possible sale of the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 729.

An unexpected increase in construction spending lifted the markets to a higher open with the Dow soaring 94 points to 11,103. Nasdaq climbed 21 points to 2482.

On the upside

Pozen (Nasdaq: POZN) is hosting a converence call this morning to discuss updates of its pain medication Vimovo in delayed release form.

Jackson Hewitt Tax Service (NYSE: JTX) amended its credit agreement and eliminated 15% of its workers.

Avis Budget Group (NYSE: CAR) indicated that it may make a counter offer for Dollar Thrifty Automotive Group (NYSE: DTG), which accepted an acquisition offer from Hertz Global (NYSE: HTZ) last month.

On the downside

Cantor Fitzgerald downgraded Doral Financial (NYSE: DRL) to a Sell rating after the Federal Deposit Insurance Corp. seized and sold the banking operations of three Puerto Rican banks on Friday.

BP (NYSE: BP) pledged to pay for all costs to clean up the massive oil spill from the Deepwater Horizon well in the Gulf of Mexico.

CapitalSource (NYSE: CSE) widened first quarter losses as loan loss provisions soared.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 724.

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