June 2010 Archives

Disappointingly low job creation numbers weighed the markets down to a lower close with the Dow falling 96 points to 9774. Nasdaq dropped 25 points to 2109.

On the upside

Pier 1 Imports (Nasdaq: PIR) impressed with an unexpected profit for the first quarter, saying that the company has not only weathered the recession but has grown stronger.

Second quarter earnings for OMNOVA Solutions (NYSE: OMN) surged as revenue climbed.

Ford (NYSE: F) announced plans to repay $4 billion in debt.

On the downside

SuperGen's (Nasdaq: SUPG) partner Eisai reported no significant superiority with patients using its myeloid leukemia treatment Dacogen in a Phase III clinical trial.

FUQI International (Nasdaq: FUQI) will be unable to file restated quarterly earnings for 2009 or its 2009 annual report in June 2010.

Fitch Ratings downgraded some of First Industrial Realty Trust's (NYSE: FR) ratings.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 609.


Business activity in the Midwest rose more than expected to lift the markets higher during the midday with the Dow rising 18 points to 9888. Nasdaq gained 11 points to 2147.

On the upside

Celgene (Nasdaq: CELG) will pay approximately $2.9 billion in cash and stock to acquire Abraxis BioScience (Nasdaq: ABII).

Spanish telephone services firm Telefonica (NYSE: TEF) increased its offer for Brazilian cellular company Vivo (NYSE: VIV) from 6.5 billion euros to 7.15 billion euros.

Boeing (NYSE: BA) will pay approximately $775 million in cash to acquire Argon ST (Nasdaq: STST).

On the downside

MELA Sciences (Nasdaq: MELA) priced its offering of 2.2 million common shares at $7.50 per share.

Acuity Brands (NYSE: AYI) reported lower third quarter earnings that fell short of expectations.

General Mills (NYSE: GIS) disappointed with sharply lower fourth quarter earnings as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 619.

The markers opened mixed with the Dow losing 11 points to 9858 as employers added a disappointingly low number of jobs in June. Nasdaq rose 7 points to 2142.

On the upside

Celgene (Nasdaq: CELG) will pay approximately $2.9 billion in cash and stock to acquire Abraxis BioScience (Nasdaq: ABII).

Spanish telephone services firm Telefonica (NYSE: TEF) increased its offer for Brazilian cellular company Vivo (NYSE: VIV) from 6.5 billion euros to 7.15 billion euros.

Boeing (NYSE: BA) will pay approximately $775 million in cash to acquire Argon ST (Nasdaq: STST).

On the downside

MELA Sciences (Nasdaq: MELA) priced its offering of 2.2 million common shares at $7.50 per share.

Acuity Brands (NYSE: AYI) reported lower third quarter earnings that fell short of expectations.

General Mills (NYSE: GIS) disappointed with sharply lower fourth quarter earnings as revenue fell.

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

Global Market Woes Sink Stocks

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The markets tumbled to close sharply lower with the Dow plunging 268 points to 9870 as global markets stumbled. Nasdaq collapsed 85 points to 2135.

On the upside

Shares of Tesla (Nasdaq: TSLA) surged sharply in the late afternoon on its first trading day.

Raser Technologies (NSYE: RZ) partnered with Hyundai to develop electric trucks and other renewable energy products.

A federal court ruled that generic drug makers cannot market AstraZeneca's (NYSE: AZN) Crestor until 2016.

On the downside

China MediaExpress Holdings (Nasdaq: CCME) was added to the Russell Global Index but the stock price dropped.

Citigroup (NYSE: C) triggered circuit breakers on the downside to join the rest of the financial sector in the sell-off.

KeyBanc Capital Markets downgraded Ethan Allen (NYSE: ETH).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 615.

Consumer confidence plunged to send the markets tumbling during the midday with the Dow collapsing 241 points to 9897. Nasdaq stumbled 70 points to 2150.

On the upside

Shares of Tesla (Nasdaq: TSLA) rose on its first trading day.

Cyclacel Pharmaceuticals (Nasdaq: CYCC) joined the Russell Microcap Index yesterday. 

Eastern Bank will pay approximately $163 million in cash to take Wainwright Bank & Trust (Nasdaq: WAIN) private.

On the downside

RBS downgraded Ctrip.com (Nasdaq: CTRP) to a Hold rating after commission rates were cut by several airlines.

Vale (NYSE: VALE) chief financial officer Fabio Barbosa resigned.

Wells Fargo (NYSE: WFC) introduced a host of new mobile banking applications but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 8 to 1 on the NYSE and by nearly 10 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 19 points to 622.

A drop in Asian markets weighed domestic markets down to a lower open with the Dow plummeting 238 points to 9900. Nasdaq plunged 64 points to 2156.

On the upside

Cowlitz Bancorp (Nasdaq: CWLZ) met with the Nasdaq Stock Market Hearing Panel to present its plan to regain compliance.

Shares of BP (NYSE: BP) rose after director of the National Audubon Society's Louisiana Coastal Initiative Paul Kemp said that the Gulf wetlands are weathering the oil spill pretty well.

On the downside

Micron Technology (Nasdaq: MU) swung to a third quarter profit but the  company warned of flat growth for the fourth quarter.

Barnes & Noble (NYSE: BKS) widened fourth quarter losses.

In a bid to gain favor with the Chinese government, Google (Nasdaq: GOOG) announced changes to its Chinese site. Shares of Baidu (Nasdaq: BIDU) fell on the news.

Aaron's (NYSE: AAN) cut its outlook for the second quarter as well as the full year and announced the closure of its furniture business. 

In the broad market, declinig issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 17 points to 624.

Personal income rose less than expected in May to weigh the markets down to a lower close with the Dow slipping 5 points to 10,138. Nasdaq eased 2 points to 2220.

On the upside

Aflac (NYSE: AFL) sold all of its holdings in Greek debt.

Genco (NYSE: GNK) announced on Friday that it would pay $545 million to purchase 16 Supramax dry bulk vessels.

Vishay Intertechnology (NYSE: VSH) will offer a new mid-range infrared sensor with both digital and analog outputs.

On the downside

Isle of Capri (Nasdaq: ISLE) will offer 9 million common shares.

Shares of Ford (NYSE: F) fell ahead of Tesla's IPO tomorrow.

Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) must all increase their capital levels under the Collins amendment ot the financial reform bill. 

In the broad market, declinig issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 641.


The markets advanced during the midday with the Dow gaining 40 points to 10,184 after the Supreme Court struck down part of the Sarbanes-Oxley antifraud law. Nasdaq climbed 12 points to 2236.

On the upside

Aflac (NYSE: AFL) sold all of its holdings in Greek debt.

Genco (NYSE: GNK) announced on Friday that it would pay $545 million to purchase 16 Supramax dry bulk vessels.

Vishay Intertechnology (NYSE: VSH) will offer a new mid-range infrared sensor with both digital and analog outputs.

On the downside

Isle of Capri (Nasdaq: ISLE) will offer 9 million common shares.

Shares of Ford (NYSE: F) fell ahead of Tesla's IPO tomorrow.

Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) must all increase their capital levels under the Collins amendment ot the financial reform bill. 

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE while advancer barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 646.

Consumer spending inched up 0.2% in May to lift the markets to a modestly higher open with the Dow rising 36 points to 10,180. Nasdaq gained 8 points to 2232.

On the upside

Orexigen Therapeutics (Nasdaq: OREX) that its Contrave treatment significantly improved depressive symptoms and contributed to weight loss in overweight patients with major depression.

Sprint (NYSE: S) launched its 4G mobile wireless service in Richmond, Salt Lake City, and St. Louis.

Noble Corp. (NYSE: NE) will pay approximately $2.16 billion to acquire Frontier Drilling.

The Supreme Court rejected government appeals to seek millions from tobacco companies for concealing the dangers of tobacco. Shares of Philip Morris parent Altria Group (NYSE: MO) climbed.

On the downside

Medicare will maintain the reimbursement rate for CardioNet's (Nasdaq: BEAT) mobile cardiovascular telemetry rather than raise rates.

EpiCept (Nasdaq: EPCT) priced its offering of 6.1 million common shares at $1.10 per share.

In the broad market, declining issues outpaced advabcers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 643.

It was a mixed close for the markets with the Dow losing 9 points to 10,143 as investors weighed a downward revision of the GDP against less stringent than expected regulation of the financial services industry. Nasdaq gained 6 points to 2223.

On the upside

Raymond James analyst Steven Schwartz upgraded American Equity (NYSE: AEL) citing a Congressional decision to allow states to continue regulating indexed annuities.

Shares of Citigroup (NYSE: C), Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) and all rose as details emerged about the financial reform bill showing government restraint with regards to new regulations.

On the downside

Banner (Nasdaq: BANR) priced its offering of 75 million common shares at $2 per share.

Shares of BP (NYSE: BP) continued falling due to soaring clean up expenses for the Gulf of Mexico oil spill.

The Nasdaq Stock Market informed Molecular Insight Pharmaceuticals (Nasdaq: MIPI) that its market capitalization failed to meet minimum standards for listing.

Dilution concerns weighed down shares of Hampton Roads (Nasdaq: HMPR).

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 soared 11 points to 645.

Consumer sentiment climbed in June to a two and a half year high to lift the markets modestly higher during the midday with the Dow adding 5 points to 10,158. Nasdaq rose 11 points to 2229.

On the upside

ATP Oil & Gas (Nasdaq: ATPG) replaced its $100 million revolving credit facility with a new $150 million term loan facility.

Oracle (Nasdaq: ORCL) reported higher fourth quarter earnings that topped analyst estimates with Sun contributing over $400 million in income.

Netlist (Nasdaq: NLST) will be added to the Russell Microcap Index.

On the downside

Synutra International (Nasdaq: SYUT) priced its public offering of 3.3 million shares of common stock at $19 per share.

Alpine Total Dynamic Dividend Fund (NYSE: AOD) and Alpine Global Dynamic Dividend Fund (NYSE: AGD) announced reductions in their monthly distributions for July, August and September.

AeroVironment (Nasdaq: AVAV) reported higher fourth quarter earnings that beat expectations but its backlog orders tumbled.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 640.

The nation's first quarter gross domestic product was revised downward to weigh the markets down to a lower open with the Dow losing 24 points to 10,128. Nasdaq slipped 6 points to 2211.

On the upside

Third quarter earnings for Accenture (NYSE: ACN) rose to top analyst estimates as revenue climbed.

H&R Block (NYSE: HRB) reported better than expected earnings for the fourth quarter.

Tibco (Nasdaq: TIBX) reported higher second quarter earnings that beat expectations and forecast third quarter results ahead of estimates.

On the downside

FuelCell Energy (Nasdaq: FCEL) priced its offering of 24 million shares at $1.25 per share.

While first qurater earnings rose for Research in Motion (Nasdaq: RIMM), BlackBerry shipments and subscriber growth disappointed.

KB Home (NYSE: KBH) narrowed second quarter losses but the results fell far short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 636.

Investors ignored a drop in initial jobless claims to focus on falling durable goods orders sending the markets tumbling to a sharply lower close with the Dow plunging 145 points to 10,152. Nasdaq plummeted 36 points to 2217.

On the upside

Russia will begin allowing imports of chicken from the United States, lifting shares of Pilgrim's Pride (NYSE: PPC).

Industrial Services of America (Nasdaq: IDSA) forecast second quarter revenue that is more than double last year.

On the downside

Fortress Investment Group (NYSE: FIG) announced that no more quarterly dividends will be paid.

Allied Irish Banks (NYSE: AIB) delayed release of interim 2010 results to August 4, 2010.

Ford (NYSE: F) announced plans to build a $450 million passenger car assembly plant in Thailand despite recent political unrest.

Pfizer (NYSE: PFE) cited adverse reactions for suspending studies of its osteoarthritis treatment tanezumab.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 633.


A drop in durable goods orders renewed concerns about the global economic recovery to weigh down the markets during the midday with the Dow tumbling 77 points to 10,221. Nasdaq dropped 19 points to 2234.

On the upside

Hasbro (NYSE: HAS) reassured investors that it was not interested in taking the company private.

NBC announced that it will not sell its 20% stake in ValueVision Media (Nasdaq: VVTV) .

On the downside

Advanced Micro Devices (NYSE: AMD) announced an exchange offer for up to $500 million of its senior notes.

Cypress Sharpridge Investments (NYSE: CYS) will offer of 8 million common shares through a public offering.

The New York Stock Exchange informed Magnetek (NYSE: MAG) that the company's average market capitalization fell below listing standards.

Dell (Nasdaq: DELL) forecast revenue growth in 2011 but warned of weakening demand in Europe.

In the broad market, declining issues outpaced advancers by a margin of more than 8 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 638.

Despite a drop in new jobless claims, the markets opened lower with the Dow dropping 71 points to 10,226 as investors remain concerned about the economic recovery. Nasdaq fell 17 points to 2236.

On the upside

Molecular Insight Pharmaceuticals (Nasdaq: MIPI) reported positive results from a mid-stage clinical trial of its childhood cancer neuroblastoma treatment Azedra.

ZelnickMedia will acquire Alloy (Nasdaq: ALOY) in an all cash deal valued at approximately $126.5 million.

Discover Financial Services (NYSE: DFS) reversed year ago losses to post a profit for the second quarter.

On the downside

Bed Bath & Beyond (Nasdaq: BBBY) reported higher first quarter earnings that topped analyst estimates but the home furnishing retailer forecast second quarter results below expectations.

Bank of America Merrill Lynch downgraded Logitech (Nasdaq: LOGI) to an Underperform rating.

Fourth quarter earnings for Nike (NYSE: NKE) rose but the athletic shoe and apparel maker warned that economic pressures will negatively impact results this year.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 637.

The Federal Reserve held interest rates steady at historic lows and offered a measured assessment of the recovery. The markets closed flat with the Dow adding 4 points to 10,298 while Nasdaq slipped 7 points to 2254.

On the upside

Lightbridge (Nasdaq: LTBR) developed a new nuclear fuel technology with significantly lower carbon dioxide emissions.

PacCrest upgraded electric battery maker A123 (Nasdaq: AONE) saying that demand for electric vehicles will climb in a backlash against the oil industry.

Soaring coal imports in China lifted shares of coal company Peabody Energy (NYSE: BTU).

On the downside

A sharp drop in new home sales weighed down share of mortgage insurer PMI Group (NYSE: PMI).

Microsoft (Nasdaq: MSFT) filed a copyright infringement suit against Nebraska computer store QuickTeq Computers.

Collins Stewart analyst John Vinh downgraded ON Semiconductor (NYSE: ONNN) citing slowing demand in China.

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 point to 644.

A plunge in new home sales weighed down the markets during the midday with the Dow falling 30 points to 10,263. Nasdaq lost 13 points to 2248.

On the upside

InfoLogix (Nasdaq: IFLG) engaged KPMG as the company's independent registered accounting firm.

Bank of America Merrill Lynch upgraded Holly (NYSE: HOC) to a Buy rating and lifted the price target to $35.

Philip Morris (NYSE: PM) blamed the weak euro for lowering its full year outlook but the updated income range is within analyst estimates.

On the downside

Suntrust Robinson Humphrey downgraded Wilmington Trust (NYSE: WL).

Goldman Sachs downgraded Edwards Lifesciences (NYSE: EW).

HB Fuller (NYSE: FUL) disappointed with lower second quarter earnings due to a one-time accounting charge.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 643.

The markets opened lower with the Dow losing 40 points to 10,253 as investors await the Federal Reserve's interest rate decision. Nasdaq fell 16 points to 2244.

On the upside

Rite Aid (NYSE: RAD) narrowed first quarter losses as the retail drugstore chain operator cut expenses.

First quarter earnings for CarMax (NYSE: KMX) more than tripled to surpass analyst estimates by a wide margin.

Jabil Circuit (NYSE: JBL) reversed year ago losses to post a better than expected profit for the third quarter as revenue surged and forecast fourth quarter results ahead of estimates.

On the downside

Royal Gold (Nasdaq: RGLD) priced its offering of 5.2 million common shares at $48.50 per share.

Chimera Investment (NYSE: CIM) will offer 100 million common shares to raise approximately $365 million.

Adobe Systems (Nasdaq: ADBE) reported higher second quarter earnings that topped analyst estimates but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 642.

An unexpected drop in existing home sales sent the markets tumbling to a lower close with the Dow plunging 148 points to 10,293. Nasdaq dropped 27 points to 2261.

On the upside

Apple (Nasdaq: AAPL) sold 3 million iPads in 80 days.

On the downside

Shares of Curis (Nasdaq: CRIS) continued to fall after its colorectal cancer treatment failed a clinical trial.

Zale (NYSE: ZLC) made a partial payment of $5.3 million to Citibank (NYSE: C) for credit card services.

IBISWorld ranked Saks (NYSE: SKS) last in three out of four metrics used in their Retailer Health Rating.

The soaring cost of the Gulf of Mexico oil spill raised concerns that smaller, more successful oil exploration firms such as Cobalt International Energy (NYSE: CIE) may be forced to exit the area.

Premier Exhibitions' (Nasdaq: PRXI) largest shareholder announced plans to sell its 46% stake in the company.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 7 to2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 645.

Markets Flat As Fed Meets

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The markets traded near the flatline during the midday with the Dow rising 9 points to 10,449 as the Federal Reserve met. Nasdaq gained 12 points to 2301. The Fed is expected to maintain interest rates at historic lows.

On the upside

Second quarter earnings for Jefferies Group (NYSE: JEF) rose to top analyst estimates as revenue climbed.

Star Scientific (Nasdaq: CIGX) filed an application for approval to market its modified risk tobacco product Stonewall-BDL.

Shares of Biovail (NYSE: BVF) and Valeant (NYSE: VRX) continued soaring after announcing merger plans yesterday.

On the downside

J.P. Morgan downgraded Big Lots (NYSE: BIG) citing lower consumer spending trends.

CapitalOne Southcoast downgraded PetroQuest Energy (NYSE: PQ).

Sprint's (NYSE: S) Palm Pixi was listed as one of the cell phones with the highest radiation levels.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 9 to7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 660.

Flat Open As Home Sales Sink

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The markets opened flat with the Dow adding 2 points to 10,444 as home sales posted a 2.2% drop. Nasdaq rose7 points to 2296.

On the upside

Takeda Pharmaceutical made a $30 million milestone payment to Affymax (Nasdaq: AFFY) for the anemia treatment Hematide/peginesatide.

Shares of Lloyds (NYSE: LYG) rose on news that the British government crafted an emergency budget for the country.

Lincare Holdings (Nasdaq: LNCR) will pay a quarterly dividend of 20 cents per share on July 29 to shareholders of record July 19.

On the downside

Walgreens (NYSE: WAG) disappointed with lower third quarter earnings that fell short of expectations.

Patriot Coal (NYSE: PCX) will permanently close its lucrative Harris No. 1 mine in West Virginia citing severe damage to the roof.

Republic First Bancorp (Nasdaq: FRBK) priced its offering of 15 million common shares at $2 per share.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 662.

The markets closed modestly lower with the Dow slipping 8 points to 10,442 despite China's currency plan as the euro fell. Nasdaq dropped 20 points to 2289.

On the upside

United Microelectronics (NYSE: UMC) partnered with Elpida Memory and Powertech Technology to develop 3D IC integration technologies for advanced processes.

Domtar's (NYSE: UFS) tender offer for certain notes expired on Friday, June 18.

Barron's wrote on Sunday that MELA Sciences' (Nasdaq: MELA) stock will surge if the Food and Drug Administration approves experimental skin cancer detection device.

On the downside

Jamba Juice (Nasdaq: JMBA) launched its line of branded apparel in select stores.

Analysts warned that increasing production costs will hurt AnnTaylor's (NYSE: ANN) margins.

Shares of Pacific Capital (Nasdaq: PCBC) continued to fall after regulators informed the bank of Friday that it must increase its capital.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 660.

Appreciating Yuan Lifts Markets

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The markets pared early morning gains but continued trading higher with the Dow rising 41 points to 10,492 after China announced that it will allow the yuan to appreciate. Nasdaq eased a fraction to 2309.

On the upside

Private equity firm Francisco Partners will acquire EF Johnson Technologies (Nasdaq: EFJI) at a higher price of $1.50 per share.

The appreciating yuan will increase travel to China lifting shares of Chinese travel services firm Ctrip.com (Nasdaq: CTRP).

China's decision to allow the yuan to appreciate will increase demand for materials lifting shares of Alcoa (NYSE: AA).

On the downside

Cypress Bioscience (Nasdaq: CYPB) will license BiolineRx's schizophrenia drug for the North American market in a $365 million deal but BiolineRx will retain the rights for the drug outside of North America.

Exelixis (Nasdaq: EXEL) could not reach a rights agreement to license its cancer treatment to Bristol-Myers Squibb (NYSE: BMY).

Corn Products International (NYSE: CPO) will acquire National Starch for approximately $1.3 billion.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 668.


China announced that it will allow the yuan to appreciate which will allow more competitve pricing for U. S. imports to China. The markets opend higher with the Dow soaring 111 points to 10,562 while Nasdaq gained 20 points to 2330.

On the upside

Ralcorp Holdings (NYSE: RAH) will pay approximately $1.2 billion to acquire American Italian Pasta (Nasdaq: AIPC).

Biovail (NYSE: BVF) and Valeant Pharmaceuticals International (NYSE: VRX) announced a merger agreement.

Liberty Media (Nasdaq: LINTA) will spin off its Liberty Capital (Nasdaq: LCAPA) and Liberty Starz (Nasdaq: LSTZA) businesses.

On the downside

Affymax's (Nasdaq: AFFY) anemia treatment Hematide met the goals of four Phase 3 studies but a higher incidence of cardiovascular events among a subgroup of patients raised safety issues.

The Food and Drug Administration approved Ziopharm Oncology's (Nasdaq: ZIOP) Phase III study design for its metastatic soft tissue sarcoma treatment palifosfamide without Special Protocol Assessment.

Canadian Imperial Bank of Commerce will not renew its Visa sponsorship agreement with Global Payments (NYSE: GPN).

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 climbed 9 points to 676.

Mining related companies rose to lift the markets to a higher close with the Dow gaining 16 points to 10,450 as gold settled at a new record. Nasdaq added 2 points to 2309.

On the upside

Record gold prices lifted shares of mining companies Coeur d'Alene (NYSE: CDE) and Hecla Mining (NYSE: HL).

FIFA World Cup used the Cisco (Nasdaq: CSCO) Digital Media Suite at its Kick-Off Celebration Concert last week.

As a 25% owner of the failed oil well in the Gulf of Mexico, Anadarko Petroleum (NYSE: APC) may be liable for up to $6 billion in damages related to the Deepwater Horizon oil spill. But the stock price rose.

On the downside

The Office of the Comptroller of the Currency ordered Pacific Capital Bancorp (Nasdaq: PCBC) to increase its capital and submit a capital plan.

General Maritime (NYSE: GMR) will offer 30.6 million common shares to raise approximately $195.6 million.

Credit Suisse analyst Gregory Lewis downgraded DryShips (Nasdaq: DRYS) and cut his price target on the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 666.

Investors welcomed fiscal austerity measures in Greece but remained wary of a sustained recovery. The markets traded near the flat line with the Dow rising 5 points to 10,439. Nasdaq slipped 2 points to 2304.

On the upside

An 18 month filing delay for Roche's diabetes treatment taspoglutide lifted shares of Alkermes (Nasdaq: ALKS), Amylin Pharmaceuticals (Nasdaq: AMLN) and Eli Lilly (NYSE: LLY), which are awaiting regulatory approval of their once a week diabetes drug Bydureon.

Actuant (NYSE: ATU) reversed year ago losses to post a third quarter profit as revenue rose.

Boston Scientific (NYSE: BSX) reported cardiac resynchronization therapy improved conditions in both men and women but women received much greater benefit from the therapy.

On the downside

Wimm-Bill-Dann (NYSE: WBD) expressed interest in purchasing Danone's 18% stake in the company.

Adolor (Nasdaq: ADLR) reported that two pain medications, ADL5859 and ADL5747, failed a midstage clinical trail.

Banner (NYSE: BANR) will offer $150 million worth of common shares through a public offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 665.

Renewed confidence in the European economy lifted the markets to a modestly higher open with the Dow adding a point to 10,435. Nasdaq edged up a point to 2308.

On the upside

Amylin Pharmaceuticals (Nasdaq: AMLN) will present data on its approved diabetes drugs Byetta injection and Symlin injection as well as its experimental extended release injectable Bydureon at the American Diabetes Association's 70th Annual Scientific Session being held June 25 through June 29.

CVS Caremark (NYSE: CVS) and Walgreens (NYSE: WAG) resolved their conflict over pharmacy benefits and signed a new multi year contract.

Covanta Holding (NYSE: CVA) declared a special cash dividend of $1.50 per share payable on July 20, 2010 to shareholders of record July 12, 2010. The company will also repurchase up to $150 million worth of common shares.

On the downside

El Paso Pipeline Partners (NYSE: EPB) priced its offering of 10 million common units at $28.80 per unit.

HCP (NYSE: HCP) announced a public offering of 13.5 million common shares at $33.00 per share.

General Maritime (NYSE: GMR) priced its public offering of 30.6 million common shares at $6.75 per share.

In the broad market, declining issues barely outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 664.


The strengthening Euro lifted the markets to a modestly higher close with the Dow rising 24 points to 10,434. Nasdaq added a point to 2307.

On the upside

Pre-orders for Apple's (Nasdaq: AAPL) iPhone 4 surpass expectations.

Boeing (NYSE: BA) announced the completion of the first 787 Dreamliner jet flight with General Electric's (NYSE: GE) Trent 1000 engines.

Motorola (NYSE: MOT) announced a new phone for corporate clients based on Microsoft (Nasdaq: MSFT) software.

On the downside

Preliminary results indicate that NMT Medical's (Nasdaq: NMTI) CLOSURE I stroke prevention device failed a clinical trial.

Arrowhead Research (Nasdaq: ARWR) will sell 6.6 million common shares and warrants to purchase 3.3 million common shares through a registered direct offering.

A second shareholder expressed opposition to Charles River's (NYSE: CRL) acquisition of WuXi Pharma Tech (NYSE: WX).

In the broad market, advancing issues barely outpaced decliners by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 665.

The markets trimmed its loses during them midday but continued trading in negative territory with the Dow losing 42 points to 10,367 as consumer prices fell last month. Nasdaq slipped 5 points to 2300.

On the upside

Stifel Nicolaus analyst Patrick Newton upgraded Anadigics (Nasdaq: ANAD) saying that the company should expand its market share and surpass earnings estimates in the next six months.

Winnebago (NYSE: WGO) reversed year ago losses to post a greater than expected profit for the third quarter as revenue surged.

Merck Serono will resume clinical trials for Oncothyreon's (Nasdaq: ONTY) lung cancer treatment Stimuvax.

On the downside

Gammon Gold (NYSE: GRS) suspended operations at its El Cubo mine in Mexico, fired 397 union workers and will file criminal charges against seven union executives.

SMithfield Foods (NYSE: SFD) narrowed fourth quarter losses and announced that it will reduce its hog hedging positions but the stock price dropped.

DirecTV (Nasdaq: DTV) chairman John Malone and two other board members left the board.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 663.

A jump in new jobless claims sent the markets down to a lower open with the Dow falling 64 points to 10,345. Nasdaq lost 15 points to 2291.

On the upside

First quarter earnings for Kroger (NYSE: KR) fell as expenses climbed but the results topped analyst estimates.

Pier 1 Imports (NYSE: PIR) reported an unexpected profit for the first quarter as revenue rose.

J. M. Smucker (NYSE: SJM) reported higher fourth quarter earnings and forecast 2011 results above analyst expectations.

On the downside

Credit Suisse downgraded DryShips (Nasdaq: DRYS) and cut its price target on the company saying that the Gulf of Mexico oil spill will negatively impact its deepwater oil drilling division.

Duke Realty (NYSE: DRE) priced its offering of 23 million common shares at $11.75 per share.

Toll Brothers (NYSE: TOL) said that per community deposits, traffic and signed contracts have all fallen.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 666.

The markets reversed earlier losses to close just above the flatline with the Dow adding 4 points to 10,409 as BP suspended its dividend and pledged an initial $20 billion to clean up the oil spill and pay for damages. Nasdaq edged up a fraction to 2305.

On the upside

CombinatoRx (Nasdaq: CRXX) will join the Russell 3000 Index on June 25 and may be included in the Russell 2000 as well.

Rackspace Hosting (NYSE: RAX) enhanced its Hybrid Email for more flexibility and easier use.

Longtop Financial Technologies (NYSE: LFT) partnered with Netezza (NYSE: NZ) to jointly market their products in China.

On the downside

Gleacher & Co. initiated coverage of Myriad Genetics (Nasdaq: MYGN) with a Sell rating.

Avondale downgraded Hawaiian Holdings (Nasdaq: HA).

Fitch Ratings downgraded Anadarko Petroleum's (NYSE: APC) outlook to Negative.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 666.


A drop in new home construction weighed down the markets during the midday with the Dow slipping 13 points to 10,390. Nasdaq edged up a fraction to 2306.

On the upside

Sunoco (Nasdaq: SUN) announced that it will spin off its metallurgical coke manufacturing unit SunCoke Energy in 2011.

Pharmacyclics (Nasdaq: PCYC) will sell shares to institutional investors in order to raise approximately $40 million.

The Federal Bureau of Prisons awarded the GEO Group (NYSE: GEO) a new ten year contract to manage the Rivers Correctional Institution in North Carolina.

On the downside

Genoptix (NYSE: GXDX) forecast second quarter results below expectations lowered its full year guidance.

A Texas jury sided with Dilliard's (NYSE: DDS) in a software license dispute with JDA Software (Nasdaq: JDAS) and ordered JDA to pay $246 million in damages.

Nokia (NYSE: NOK) warned that second quarter earnings will fall short due to a competitive market.

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 668.

New home construction dropped to its lowest level this year to weigh the markets down to a lower open with the Dow losing 38 points to 10,365. Nasdaq slipped 8 points to 2297.

On the upside

Covidien (NYSE: COV) will pay approximately $300 million to acquire Somanetics (Nasdaq: SMTS).

Abbott Laboatories (NYSE: ABT) will pay Neurocrine Biosciences (Nasdaq: NBIX) $75 million upfront to develop and market Neurocrine's endometriosis treatment Elagolix.

Boston Private Financial Holdings (Nasdaq: BPFH) priced its offering of 4.1 million common shares at $6.10 per share to raise approximately $25 million.

On the downside

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) will be delisted from the New York Stock Exchange for falling below the minimum average closing price.

Curis' (Nasdaq: CRIS) colon cancer drug failed a midstage clinical trial.

Aeterna Zentaris (Nasdaq: AEZS) will raise $12.1 million through a registered direct offering.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 663.

Expansion among regional manufacturers along with expectations for a 20% increase in the personal computer market sent the markets soaring to a sharply higher close with the Dow leaping 213 points to 10,404. Nasdaq jumped 61 points to 2305.

On the upside

Shares of CBOE Holdings (Nasdaq: CBOE) soared on its first trading day.

Radian Group (NYSE: RDN) chief financial officer Bob Quint said that mortgage delinquencies fell in April and May signaling improvement in the mortgage insurance industry.

International job posting sevices firm eQuest reported a 91% surge in online recruitment spending lifting shares of online employment solutions company Monster Worldwide (NYSE: MWW).

On the downside

Lazard analyst William Tanner downgraded Vivus (Nasdaq: VVUS) saying that the Food and Drug Adminstration may impose more stringent safety standards on Vivus' new weight loss treatment Qnexa.

First quarter earnings for China Mass Media (NYSE: CMM) plunged as revenue tumbled.

Bakers Footwear Group (Nasdaq: BKRS) widened first quarter losses by a greater than expected amount warned that it may receive a delisting notice from Nasdaq.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 16 points to 668.

The markets continued to advance during the midday with the Dow soaring 126 points to 10,317 as credit card delinquencies fell last month. Nasdaq surged 40 points to 2284.

On the upside

US Airways (NYSE: LCC) reported a 50% surge in business travel.

Vonage Holdings (NYSE: VG) will join the Russell 3000 Index beginning June 25.

The Food and Drug Administration approved AtriCure's (Nasdaq: ATRC) AtriClip system for use during open heart treatment of atrial fibrillation.

On the downside

La-Z-Boy (NYSE: LZB) reported higher fourth quarter earnings that topped analyst estimates but the company cautioned that a weak economy may weigh on fiscal 2011.

Callaway Golf (NYSE: ELY) forecast second quarter results well below analyst expectations prompting a downgrade.

General Maritime (NYSE: GMR) will offer 25.5 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 659.

A rebound in European markets restored investor confidence to lift the markets to a higher open with the Dow climbing 97 points to 10,288. Nasdaq gained 28 points to 2272.

On the upside

Zanett (Nasdaq: ZANE) reported that it has closed more than $12.6 million in new contracts in the second quarter and more than $29.7 million in new contracts year-to-date.

KornFerry International (NYSE: KFY) reversed year ago losses to post a profit for the fourth quarter.

Ram Energy Resources (Nasdaq: RAME) retained the services of Jefferies & Co. to explore strategic options including the possible sale of the company.

On the downside

Smart Balance (Nasdaq: SMBL) blamed the economy for cutting its sales outlook for 2010.

Capstone Turbine (Nasdaq: CPST) disappointed by widening fourth quarter losses as expenses rose.

First quarter earnings for Best Buy (NYSE: BBY) fell far short of analyst estimates.

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 rose 3 points to 656.

The markets closed lower with the Dow losing 20 points to 10,190 after Moody's Investors Service downgraded Greece's debt rating. Nasdaq added a fraction to 2243.

On the upside

Briefing.com reported that Omnicell (Nasdaq: OMCL) was rumored to be exploring the possible purchase of InfoLogix (Nasdaq: IFLG).

Stifel Nicolaus upgraded Mohawk Industries (NYSE: MHK) to a Buy rating.

Allied Irish Banks (NYSE: AIB) issued nearly 200 million ordinary shares to the National Pension Reserve Fund Commission.

On the downside

CF Industries Holdings (NYSE: CF) appointed AptarGroup chief operating officer Stephen J. Hagge to its board of directors.

Trust One will be rolled into parent company Synovus Financial's (NYSE: SNV) Georgia charter at the end of the month.

A proposal in the Wall Street reform bill that may force banks to spin-off their over the counter derivatives trading business sent shares of Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) lower.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 652.


Investors embraced upbeat industrial production growth in Europe to lift the markets higher during the midday with the Dow gaining 61 points to 10,272. Nasdaq rose 22 points to 2266.

On the upside

A Barron's article said that AVI Biopharma's (Nasdaq: AVII) stock has significant upside potential.

Cablevision Systems (NYSE: CVC) will pay approximately $1.4 billion to acquire Bresnan. The cable operator will also repurchase up to $500 million worth of common shares.

Helix (NYSE: HLX) sent another vessel to the Gulf of Mexico to assist in oil spill containment operations.

On the downside

CompuCredit Holdings (Nasdaq: CCRT) widened losses for the year.

Lazard (NYSE: LAZ) announced that Bank of America Merrill Lynch managing director Marc H. Katz will join Lazard as the new Managing Director in the Global Telecommunications, Media and Technology Investment Banking Group.

Xinyuan Real Estate (NYSE: XIN) terminated a best efforts offering by three shareholders of up to 9.5 milllion American Depositary Shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 659.

A strong industrial production report in Europe lifted the markets to a higher open with the Dow climbing 81 points to 10,292. Nasdaq gained 25 points to 2269.

On the upside

Marsh & McLennan's (NYSE: MMC) consulting practice Mercer will settle a lawsuit filed by the Alaska Retirement Management Board with a $500 million payment.

Longbow upgraded International Paper (NYSE: IP) to a Buy rating on Friday.

Lincoln National (NYSE: LNC) will repurchase the $950 million worth of preferred shares that were issued to the Treasury Department under the government's bailout plan.

On the downside

THQ (Nasdaq: THQI) blamed weak sales for cuttin its guidance for the first quarter as well as the full year.

Government officials are demanding that BP (NYSE: BP) place at least $20 billion in a escrow account to pay for clean up and damages from the Deepwater Horizon oil spill.

Morgan Stanley cut its price target on Transocean (NYSE: RIG) to $105.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 656.

Despite a surprising drop in retail sales, the markets closed modestly higher with the Dow rising 38 points to 10,211 as consumer sentiment soared to a two and a half year high. Nasdaq climbed 24 points to 2243.

On the upside

British information technology firm Viglen will run Netlist's (Nasdaq: MDNU) HyperCloud memory modules on its servers.

Falling oil prices lifted shares of United Air Lines parent UAL (Nasdaq: UAUA) and US Airways (NYSE: LCC).

Mircrosoft (Nasdaq: MSFT) priced Office 2010 at a very competitive price of $149 for a basic download version.

Delcath Systems (Nasdaq: DCTH) will host a conference call on June 15, 2010 to discuss corporate developments and drug trial data.

Morgan Keegan initiated coverage of Oracle (Nasdaq: ORCL) with an Outperform rating.

TheStreet.com expects NetApp's (Nasdaq: NTAP) stock price to gain 10%.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 649.


The markets traded mixed during the midday with the Dow falling 18 points to 10,154 as retail sales unexpectedly dropped last month while consumer sentiment climbed. Nasdaq rose 11 points to 2230.

On the upside

Danone North America will acquire Medical Nutrition USA (Nasdaq: MDNU) in a deal valued at approximately $62.3 million.

Borders Group (NYSE: BGP) eliminated an undisclosed number of positions at its British unit Paperchase.

Buckeye Partners (NYSE: BPL) and Buckeye GP Holdings (NYSE: BGH) will merge.

On the downside

RAIT Financial Trust (NYSE: RAS) entered an agreement to exchange senior convertible notes with common shares.

China-Biotics (NYSE: CHBT) blamed one time charges for sharply lower fourth quarter earnings.

Superior Energy (NYSE: SPN) said that the six month moratorium on deepwater drilling will lower earnings in the second half of the year by up to 20 cents per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 642.

A plunge in retail sales was tempered by rising consumer sentiment. The markets opened mixed with the Dow losing 11 points to 10,161 while Nasdaq rose 11 points to 2230.

On the upside

Wendy's/Arby's Group (NYSE: WEN) may be the target of a take-over.

Bristol-Myers (NYSE: BMY) and Pfizer (NYSE: PFE) stopped a clinical trial of its blood clot preventer apixaban because there was clear evidence that the drug prevented strokes in patients eith atrial fibrillation.

Possible mergers among Spanish banks lifted shares of Banco Santander (NYSE: STD).

Fourth quarter earnings for ArcSight (Nasdaq: ARST) surged to beat expectations as revenue climbed prompting an upgrade.

On the downside

An AT&T (NYSE: T) database of Apple (Nasdaq: AAPL) iPad owner email addresses was posted on a website.

General Electric (NYSE: GE) did not respond to Banco de Bogota's offer to purchase GE's Central American bank business.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 643.


China reported an impressive 48.5% surge in exports which calmed investor concerns about a stalled economic recovery. The market close sharply higher with the Dow jumping 273 points to 10,172 while Nasdaq soared 59 points to 2218.

On the upside

Liz Claiborne (NYSE: LIZ) presented at Imperial Capital's Second Anuual Consumer Summit this morning.

MannKind (Nasdaq: MNKD) reported upbeat results for its inhaled insulin Afrezza.

Shares of BP (NYSE: BP) rose after British Prime Minister David Cameron pledged to assist efforts to contain and clean up the oil spill.

Symantec (Nasdaq: SYMC) extended its contract to provide complimentary 60-day subscriptions to the company's Norton Internet Security on all Hewlett-Packard (Nasdaq: HPQ) computers.

Borders Group (NYSE: BGP) donate 10% of its sales over the weekend to support oil spill efforts in the Gulf of Mexico. Certain retail locations will also recruit volunteers and host education and information sessions for the clean up efforts.

On the downside

NCI Building Systems (NYSE: NCS) disappointed with a wider than expected loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 21 points to 639.

A surge in Chinese exports allayed fears of a protracted global recession to lift the markets higher during the midday with the Dow surging 204 points to 10,104. Nasdaq climbed 31 points to 2190.

On the upside

Synopsys (Nasdaq: SNPS) offered aproximately $315 million in cash to acquire rival Virage Logic (Nasdaq: VIRL).

The Semiconductor Industry Association expects chip sales to soar 28.4% this year lifting shares of chipmakers Intel (Nasdaq: INTC), Advanced Micro Devices (NYSE: AMD) and Nvidia (Nasdaq: NVDA).

Old Republic International (NYSE: ORI) will acquire PMA Capital (Nasdaq: PMACA) in a stock swap deal valued at approximately $365 million.

On the downside

In response to Walgreen's (NYSE: WAG) announcement that it will no longer accept new prescriptions managed by CVS Caremark (NYSE: CVS), CVS said that it will terminate its relationship with Walgreen.

Thor Industries (NYSE: THO) reported sharply higher third quarter earnings but the stock price tumbled.

Trico Marine Services (Nasdaq: TRMA) may not be able to make interest payments on its debt.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 628.

Initial applications for unemployment benefits fell while the total number of jobless workers dropped to its lowest level in 18 months. The markets opened higher with the Dow soaring 230 points to 10,130 while Nasdaq surged 43 points to 2202.

On the upside

Rumors circulated that Apple (Nasdaq: AAPL) may approach ARM Holdings (Nasdaq: ARMH) to manufacture its iPad.

First quarter earnings surged for A-Power Energy (Nasdaq: APWR) prompting the wind turbine maker to lift its full year guidance.

Men's Wearhouse (NYSE: MW) reported higher first quarter earnings that beat expectations by a wide margin.

On the downside

Kid Brands (NYSE: KID) announced that a secondary offering of nearly 4.4 million common shares has been priced at $7.25 per share.

Cereplast (Nasdaq: CERP) will sell approximately 2.1 million units through a registed direct offering to raise nearly $7.5 million.

Cadence Design Systems (Nasdaq: CDNS) priced its offering of $300 million in senior convertible notes.

In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 630.


Fears that BP will file for bankruptcy protection weighed down the markets in late afternoon trading to close lower with the Dow falling 40 points to 9899. Nasdaq lost 11 points to 2158.

On the upside

Shares of offshore driller Cal Dive International (NYSE: DVR) rose as the government indicated that the six month moratorium on deep water drilling is unlikely to be extended.

KBR (NYSE: KBR) will repurchase up to 10 million shares of its common stock.

General Maritime (NYSE: GMR) will pay $620 million to purchase seven double-hull tankers.

On the downside

The Justice Department launched an investigation into IPC The Hospitalist's (Nasdaq: IPCM) Medicare and Medicaid claims going back seven years.

Andarko Petroleum's (NYSE: APC) debt protection costs leaped to a record high of 575 basis points.

NCI Building (NYSE: NCS) disappointed with a wider than expected loss for the second quarter as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 618.

Wholesale inventories and sales rose to lift the markets higher during the midday with the Dow gaining 73 points to 10,013. Nasdaq climbed 19 points to 2189.

On the upside

FSI International (Nasdaq: FSII) priced its offering of 5.4 million common shares at $3.05 per share.

American Capital (Nasdaq: ACAS) extended its exchange offer to June 9, 2010.

FelCor Lodging Trust (NYSE: FCH) will repay $177 million of debt at a significant discount.

On the downside

The U. S. Court of Appeals will rehear Rambus' (Nasdaq: RMBS) patent infringement suit against Hynix Semiconductor and Micron Technology (Nasdaq: MU).

BP (NYSE: BP) must place a second containment cap over the leaking well in the Gulf of Mexico in order to capture all the oil flowing from the well.

National Financial Partners (NYSE: NFP) will offer $230 million in senior covertible notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 627.

The markets opened higher with the Dow rising 47 points to 9987 ahead of wholesale inventories and sales data. Nasdaq gained 11 points to 2182.

On the upside

Take-Two Interactive (NYSE: TTWO) reversed year ago losses to post a better than expected profit for the second quarter.

Ciena (Nasdaq: CIEN) narrowed second quarter losses.

Teoco will pay approximately $58 million in cash to acquire TTI Team Telecom (Nasdaq: TTIL).

On the downside

Allscripts-Misys Healthcare Solutions (Nasdaq: MDRX) will acquire Eclipsys (Nasdaq: ECLP) in an all stock deal valued at approximately $1.3 billion.

France Telecom chief executive Stephane Richard said that Nokia (NYSE: NOK) is losing market share in Europe to Apple's (Nasdaq: AAPL) iPhone.

Ambac Financial (NYSE: ABK) warned that it may have to file for bankruptcy protection.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 622.


A late afternoon rally lifted the markets to a higher close with the Dow climbing 123 points to 9939. Nasdaq slipped 3 points to 2170.

On the upside

Tech Resources (NYSE: TCK) chief executive Don Lindsay reassured investors that demand for base metals remains steady.

TheStreet.com said that Southern Copper (NYSE: SCCO) has an attractive forward price-to-earnings ratio after the stock price tumbled over the last month.

Pactiv (NYSE: PTV) presented at the J.P. Morgan Diversified Industries Conference this morning.

On the downside

C&D Technologies (NYSE: CHP) reported a loss for the first quarter.

Goldman Sachs downgraded Transocean (NYSE: RIG).

Susquehanna analyst Chris Caso initiated coverage of Nvidia (Nasdaq: NVDA) with a negative rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 617.

The markets traded mixed during the midday with the Dow rising 10 points to 9827 while Nasdaq tumbled 26 points to 2147. Fed chief Bernanke said that the nation's economy will continue to recover while Fitch Ratings warned of fiscal challenges in the United Kingdom.

On the upside

A patent dispute over Impax Laboratories' (Nasdaq: IPXL) generic version of Penwest Pharmaceuticals' (Nasdaq: PPCO) and Endo Pharmaceutical's (Nasdaq: ENDP) pain medication Opana ER was settled.

Coldwater Creek (Nasdaq: CWTR) presented at the Piper Jaffray 30th Annual Consumer Conference this morning.

PolyOne (NYSE: POL) will distribute silicon products made by Dow Corning, which is a joint venture by Dow Chemical (NYSE: DOW) and Corning (NYSE: GLW).

On the downside

Auxilium Pharmaceuticals (Nasdaq: AUXL) reported upbeat results for its Dupuytren's contracture drug Xiaflex but Jefferies & Co. analyst Thomas Wei expressed concerns over health care reimbursements for the new treatment.

Inverness (NYSE: IMA) extended its exchange offer for its 7.875% Senior Notes due in 2016 to Friday, June 11, 2010.

Talbots (NYSE: TLB) narrowed first quarter losses but revenue fell short of expectations and the women's apparel retailer forecast disappointing second quarter results.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 9 points to 608.

Federal Reserve Chairman Ben Bernanke said that the economy will continue its slow recovery but investors remain concerned about European debt. The markets opened lower with the Dow slipping 6 points to 9809 while Nasdaq lost 15 points to 2158.

On the upside

Ambac (NYSE: ABK) commuted its outstanding $16.4 billion worth of exposure to collateralized debt obligations of asset backed securities.

The Food and Drug Administration will review Depomed's (Nasdaq: DEPO) application for its pain treatment DM-1796.

Stifel Nicolaus upgraded MPG Office Trust (NYSE: MPG).

On the downside

BMO Capital Markets downgraded Diamond Offshore Drilling (NYSE: DO).

New York & Co. (NYSE: NWY) warned of a wider than expected loss for the second quarter.

Pep Boys (NYSE: PBY) reported higher first quarter earnings but revenue fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 615.

European Concerns Sink Stocks

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Concerns about the health of the European economy sent the markets tumbling in late afternoon trading with the Dow plunging 115 points to 9816. Nasdaq plummeted 45 points to 2173.

On the upside

Celgene (Nasdaq: CELG) presented data from a Phase II study of lenalidomide at the American Society of Clinical Oncology annual meeting.

Morgan Stanley upgraded Eagle Bulk Shipping (Nasdaq: EGLE).

Tenet Healthcare (NYSE: THC) ended discussions to acquire Australian hospital operator Healthscope.

On the downside

Cyclacel Pharmaceuticals (Nasdaq: CYCC) presented interim data from a Phase 2 clinical trial of its treatment for myelodysplastic syndromes that have failed hypomethylating agents.

Grubb & Ellis (NYSE: GBE) will offer 16.04 million common shares.

Hellenic Telecom (NYSE: OTE) slashed its dividend.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 618.

The markets traded mixed during the midday with the Dow gaining 29 points to 9965 as the Euro dropped to a four year low. Nasdaq lost 4 points to 2214.

On the upside

Medco Health Solutions (NYSE: MHS) launched its new Medco Pharmacy brand with an integrated marketing campaign.

Rising gold prices lifted shares of Barrick Gold (NYSE: ABX), Eldorado Gold (NYSE: EGO) and Iamgold (NYSE: IAG).

DirecTV (Nasdaq: DTV) launched its new Whole-Home DVR allowing customers to record and watch programs on any television in the home.

On the downside

Celldex (Nasdaq: CLDX) reported positive results from a midstage clinical trial of its skin cancer treatment CDX-011. The stock price fell after rival Bristol-Myers (NYSE: BMY) reported upbeat results for its advanced skin cancer treatment.

ArQule's (Nasdaq: ARQL) lung cancer drug failed a midstage clinical trial.

Keryx Biopharmaceuticals (Nasdaq: KERX) reported upbeat results from a Phase 1 study of KRX-0401 in treating recurrent pediatric solid tumors but the stock price fell.

In the broad market, advancing issues barely outpaced decliners by a slim margin on the NYSE while decliners edged out advancers by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 631.

Markets Open Modestly Higher

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The markets opened modestly higher with the Dow rising 33 points to 9965 after Hungary retracted comments that indicated it may face debt problems similar to Greece. Nasdaq added 5 points to 2225.

On the upside

Grifols SA will pay approximately $3.4 billion to acquire Talecris Biotherapeutics (Nasdaq: TLCR).

Bristol-Myers Squibb (NYSE: BMY) reported over the weekend that its skin cancer treatment ipilimumab increased the lifespan of patients by four months.

Sales of Sprint's (NYSE: S) HTC EVO 4G smart phone set a record for first day sales with the phone selling out at many locations.

On the downside

AspenBio Pharma (Nasdaq: APPY) must delay its Food and Drug Administration 510(k) filing for AppyScore in order to analyze additional data.

Walgreen (NYSE: WAG) will no longer accept patients with CVS Caremark (NYSE: CVS) pharmacy benefits plans.

Delcath Systems (Nasdaq: DCTH) reported over the weekend that its drug delivery system tripled the survival time of patients. The stock price dropped as investors locked in profits.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 638.


The private sector added far fewer jobs than expected in May fostering fears of a stalled recovery to send the markets tumbling to a sharply lower close with the Dow collapsing 323 points to 9931. Nasdaq skidded 83 points to 2219.

On the upside

RCM Technologies (Nasdaq: RCMT) rejected a buy out offer from CDI (NYSE: CDI).

TechTeam Global (Nasdaq: TEAM) will be acquired for $59 million by Jacobs Engineering.

Navarre (Nasdaq: NAVR) reported higher fourth quarter earnings that topped analyst estimates.

On the downside

Shares of online employment solutions firm Monster Worldwide (Nasdaq: MWW) dropped after a disappointing jobs report.

Boston Private Financial Holdings (Nasdaq: BPFH) will raise up to $40 million through the sale of common shares.

Blyth (NYSE: BTH) reported higher first quarter earnings but the company cut its full year guidance.

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 33 points to 633.

The markets extended its losses during the midday with the Dow skidding 225 points to 10,029 over disappointing jobs data. Nasdaq plummeted 49 points to 2253.

On the upside

ATP Oil & Gas (Nasdaq: ATPG) reassured investors that while its Canyon Express drilling operation must be temporarily suspended due to the deep water drilling moratorium, its Telemark well can be completed.

First quarter earnings for Krispy Kreme Doughnuts (NYSE: KKD) more than doubled prompting the company to lift its full year guidance.

Martek Biosciences (Nasdaq: MATK) reported higher second quarter earnings that topped analyst estimates.

On the downside

Athenahealth (Nasdaq: ATHN) chief operating officer David E. Robinson announced his resignation effective July 1.

To comply with regulators, First BanCorp (NYSE: FBP) must raise $500 million .

Wilmington Trust (NYSE: WL) chief executive Ted T. Cecala announced his retirement effective immediately.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 20 points to 646.

Disappointingly slow job creation by the private sector sent the markets down to a lower open with the Dow plunging 190 points to 10,065. Nasdaq tumbled 36 points to 2266.

On the upside

Private investment firm Wellspring Capital Management will acquire Omni Energy Services (Nasdaq: OMNI) for approximately $57.8 million.

Second quarter earnings for Quiksilver (Nasdaq: ZQK) more than tripled to surpass analyst expectations.

Arrowhead Research (Nasdaq: ARWR) subsidiary Unidym and Tokyo Electron will jointly develop manufacturing equipment for carbon nanotube based displays and solar cells.

On the downside

Bottomline Technologies (Nasdaq: EPAY) priced its offering of 4.2 million common shares at $14.50 per share.

Dell (Nasdaq: DELL) chief executive Michael Dell said that taking the company private had been a consideration.

Pfizer (NYSE: PFE) recalled the intravenous antibiotics metronidazole and ciprofloxacin along with the nausea medication ondansetron.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12  points to 654.

The markets closed modestly higher with the Dow adding 5 points to 10,255 as factory orders rose by a smaller than expected amount. Nasdaq climbed 21 points to 2303.

On the upside

FuelCell Energy (Nasdaq: FCEL) will provide Pacific Gas and Electric with two fuel cell power plants for $12.6 million.

Gtx (Nasdaq: GTXI) will present at the Jefferies 2010 Global Life Sciences Conference on June 9.

Forbes included Salesforce.com (NYSE: CRM) on its list of The 100 Most Trustworthy Companies.

On the downside

BankAtlantic Bancorp (NYSE: BBX) will sell common shares to raise $25 million.

One of Stone Energy's (NYSE: SGY) wells will be affected by the six month moratorium on deep water drilling.

Falling gold prices weighed down shares of Freeport-McMoRan Copper & Gold (NYSE: FCX).

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 667.

Markets Mixed Over Weak Sales

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The markets traded mixed during the midday with the Dow slipping 22 points to 10,227 over weak May retail sales. Nasdaq added 5 points to 2286.

On the upside

Raymond James analyst Collin Gerry upgraded Hercules Offshore (Nasdaq: HERO) saying that the company was a shallow water driller and will be mostly unaffected by the moratorium on deep water drilling.

Origin Agritech (Nasdaq: SEED) acquired an 80% stake in agricultural chemical producer Shandong Kunfeng Biochemical in China.

First quarter same store sales surged 14.3% for Pier 1 Imports (NYSE: PIR).

On the downside

Coldwater Creek (Nasdaq: CWTR) reported an unexpected profit for the first quarter but women's apparel retailer warned of a second quarter loss prompting a downgrade.

Hovnanian Enterprises (NYSE: HOV) narrowed second quarter losses but revenue fell short of expectations.

As Massey Energy (NYSE: MEE) prepares to explore the mine where 29 workers were killed in an April explosion, an activist group is urging prosecutors to charge the company manslaughter.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 665.

Initial applications for unemployment benefits fell last week to lift the markets to a higher open with the Dow rising 58 points to 10,307. Nasdaq gained 19 points to 2300.

On the upside

SonicWALL (Nasdaq: SNWL) will be taken private in a deal valued at approximately $717 million.

Excide Technologies (Nasdaq: XIDE) reversed year ago losses to post a profit that beat analyst expectations.

Joy Global (Nasdaq: JOYG) reported second quarter earnings that surpassed analyst estimates by a wide margin and lifted its full year outlook.

On the downside

While Family Dollar Stores (NYSE: FDO) reported strong same store sales growth in the third quarter, the discount retailer forecast earnings below expectations.

Nordstrom (NYSE: JWN) disappointed with same store sales growth below analyst estimates.

Stifel Nicolaus downgraded American Capital (Nasdaq: ACAS).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 664.

The markets surged to close sharply higher with the Dow rocketing 225 points to 10,249 after a greater than expected jump in pending home sales sparked hopes that the housing market may be recovering. Nasdaq leaped 58 points to 2281.

On the upside

Shares of wind energy company Broadwind Energy (Nasdaq: BWEN) advanced after the government issued a six month moratorium on deep water drilling.

Tessera Technologies (Nasdaq: TSRA) lifted its revenue guidance for the second quarter.

Continental Airlines (NYSE: CAL) reported a greater than expected increase in traffic revenue for May as airfare rose and fuel costs fell.

Shares of enriched uranium supplier USEC (NYSE: USU) rose over hopes that nuclear energy will broaden its appeal after the massive oil spill in the Gulf of Mexico.

On the downside

UBS analyst Angie Sedita lowered her price target for Transocean (NYSE: RIG) to $82 per share from $90 per share.

Novogen's (Nasdaq: NVGN) majority owned subsidiary Marshall Edwards (Nasdaq: MSHL) reported yesterday that its ovarian cancer treatment phenoxodiol failed a late stage clinical trial.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 19 points to 660.

A larger than expected jump in pending home sales boosted the markets higher during the midday with the Dow soaring 127 points to 10,151. Nasdaq surged 37 points to 2260.

On the upside

US Airways (NYSE: LCC) launched new daily services from Charlotte to Ottawa, Ontario, from Philadephia to Halifax, Nova Scotia, and from Philadelphia to Anchorage, Alaska.

The Food and Drug Administration approved Amgen's (Nasdaq: AMGN) osteoporosis treatment Prolia.

Halliburton (NYSE: HAL) will relocate equipment and employees from the Gulf of Mexico area to other parts of the country after the federal government banned deepwater drilling for six months.

On the downside

Collective Brands (NYSE: PSS) reported higher first quarter earnings that topped estimates but revenue dropped.

ArcSight (Nasdaq: ARST) chief executive Tom Reilly and chief financial officer Stewart Grierson will present at the William Blair & Co.'s 30th Annual Growth Stock Conference.

Penn Virginia GP Holdings (NYSE: PVG) priced its secondary offering of approximately 8.8 million common units at $16.08 per unit.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 651.

Pending home sales surged in April to lift the markets to a higher open with the Dow rising 69 points to 10,093. Nasdaq gained 19 points to 2241.

On the upside

Brazilian steel company Gerdau SA will pay approximately $1.6 billion to acquire all the shares of Gerdau AmeriSteel (NYSE: GNA) that it does not already own.

AVI Biopharma (Nasdaq: AVII) reported positive trial results from a study of its Duchenne muscular dystrophy treatment AVI-4658.

Sonic Solutions (Nasdaq: SNIC) will acquire DivX (Nasdaq: DIVX) in a cash and stock deal valued at approximately $323 million.

On the downside

The Securities and Exchange Commission subpoenaed documents from Canadian Solar (Nasdaq: CSIQ) related to 2009 sales prompting the company to delay the release of its first quarter results.

MF Global Holdings (NYSE: MF) will sell common shares to raise up to $150 million.

Goldman Sachs lowered its earnings estimates and target price on Best Buy (NYSE: BBY).

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 641.

The government launched a civil and criminal investigation into the oil spill in the Gulf of Mexico sending the markets tumbling in late afternoon trading with the Dow plunging 112 points to 10,024. Nasdaq plummeted 34 points to 2222.

On the upside

Shares of environmental emergency response services company Clean Harbors (NYSE: CLH) continued rising after another failed attempt to stop the oil leak in the Gulf of Mexico.

More than 2 million Apple (Nasdaq: AAPL) iPads have been sold over the past two months.

Arrowhead Research (Nasdaq: ARWR) will present data from a phase 1 clinical trial of its cancer treatment CALAA-01 at the 2010 American Society of Clinical Oncology Annual Meeting on June 6, 2010.

On the downside

Savvis (Nasdaq: SVVS) will acquire Fusepoint for approximately $124.5 million.

Shares of Borders (NYSE: BGP) tumbled as Amazon (Nasdaq: AMZN) prepares to launch a thinner version of its Kindle book reader.

Trico Marine Services (Nasdaq: TRMA) named Richard Bachmann to the position of chairman and interim chief executive officer.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 640.

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