July 2010 Archives

It was a flat close for the markets with the Dow easing a point to 10,465 as the nation's economy expanded at a slower than expected pace during the second quarter. Nasdaq added 3 points to 2254.

On the upside

Sierra Wireless (Nasdaq: SWIR) reported a narrower than expected loss for the second quarter due to record revenue.

Chiquita Brands (NYSE: CQB) impressed with higher second quarter earnings that topped analyst expectations.

Second quarter earnings for McAfee (NYSE: MFE) rose to beat expectations as revenue increased.

On the downside

TeleCommunication Systems (Nasdaq: TSYS) disappointed with sharply lower second quarter earnings despite record revenue prompting a downgrade.

Despite a surge in second quarter earnings for Thoratec (Nasdaq: THOR), the medical device maker forecast full year results below expectations.

Belo (NYSE: BLC) reported second quarter earnings that nearly doubled but revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 650.

Sluggish GDP Weighs Down Markets

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Sluggish expansion of the nation's gross domestic product weighed down the markets during the midday with the Dow dropping 47 points to 10,420. Nasdaq slipped 5 points to 2246.

On the upside

Trident Microsystems (Nasdaq: TRID) reported a narrower than expected loss for the second quarter.

American Axle & Manufacturing (NYSE: AXL) swung to a better than expected second quarter profit as revenue more than doubled.

Macatawa Bank (Nasdaq: MCBC) reversed year ago losses to post its first profit in seven quarters as loan loss provisions plunged.

On the downside

BioScrip (Nasdaq: BIOS) reported lower second quarter earnings that fell short of estimates and warned of weak full year revenue.

Genworth Financial (NYSE: GNW) swung to a second quarter profit but the results missed expectations and warned of slowing sales in the second half of the year.

While Louisiana-Pacific (NYSE: LPX) reversed year ago losses to post a profit for the second quarter, the results fell short of analyst estimates.

In the broad market, declining barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 650.


Growth of the nation's economy slowed in the second quarter to weigh the markets down to a lower open with the Dow falling 31 points to 10,435. Nasdaq dropped 10 points to 2241.

On the upside

Power One (Nasdaq: PWER) reversed year ago losses to post a better than expected profit for the second quarter and the company forecast third quarter results ahead of estimates.

Alcatel-Lucent (NYSE: ALU) reported a greater than expected second quarter loss but the telecommunications company affirmed its growth outlook for the second half of the year.

The Food and Drug Administration will allow Geron (Nasdaq: GERN) to conduct the world's first clinical trial of human embryonic stem cell based therapy in human patients.

On the downside

TeleNav (Nasdaq: TNAV) reported higher fourth quarter income that topped analyst estimates but warned that changes to its contract with Sprint (NYSE: S), the company's largest client, may reduce future revenue.

Second quarter earnings surged for Acme Packet (Nasdaq: APKT) and the company lifted its full year outlook but investors expected even greater 2010 results.

MEMC Electronic Materials (NYSE: WFR) reported higher second quarter earnings but the results fell short of expectations and the company warned that it will miss its full year income guidance.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 648.

While initial applications for unemployment benefits fell more than analysts expected, investors were hoping for an even greater drop. The markets closed lower with the Dow slipping 30 points to 10,467 while Nasdaq lost 12 points to 2251.

On the upside

Questcor Pharmaceuticals (Nasdaq: QCOR) reported record revenue for the second quarter.

Shares of Molycorp (NYSE: MCP) surged on its first trading day.

Ameriprise Financial (NYSE: AMP) reported second quarter earnings that nearly tripled to surpass analyst expectations by a wide margin as revenue soared.

On the downside

Neutral Tandem (Nasdaq: TNDM) disappointed with lower second quarter earnings that fell short of expectations.

Second quarter earnings fell for Arris Group (Nasdaq: ARRS) to miss expectations.

Covance (NYSE: CVD) reported lower second quarter earnings and forecast third quarter income well below expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 650.

The markets retreated during the midday with the Dow losing 46 points to 10,451 despite a drop in jobless claims. Nasdaq fell 19 points to 2244.

On the upside

Acadia Pharmaceuticals (Nasdaq: ACAD) initiated a Phase III trial of its Parkinson's disease psychosis treatment pimavanserin.

Teradyne (NYSE: TER) reversed year ago losses to post a profit for the second quarter.

Hill-Rom (NYSE: HRC) impressed with higher third quarter earnings and lifted its full year outlook.

On the downside

Network Engines (Nasdaq: NENG) swung to a profit for the second quarter but revenue fell short.

AsiaInfo-Linkage (Nasdaq: ASIA) reported higher second quarter earnings but investors were disappointed that the results failed to beat expectations.

Quantum (NYSE: QTM) disappointed with a loss for the first quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 644.

First time applications for unemployment benefits fell last week to lift the markets to a higher open with the Dow gaining 44 points to 10,542. Nasdaq added 4 points to 2268.

On the upside

Citrix (Nasdaq: CTXS) reported higher second quarter earnings as revenue rose and forecast third quarter results ahead of expectations.

Entropic Communications (Nasdaq: ENTR) swung to a second quarter profit prompting an upgrade.

Second quarter earnings more than tripled for Interpublic (NYSE: IPG) as revenue climbed while expenses fell.

On the downside

Vistaprint (Nasdaq: VPRT) reported lower fourth quarter earnings and offered a disappointing first quarter outlook.

First quarter earnings for Symantec (Nasdaq: SYMC) more than doubled but revenue fell short and the company forecast current quarter results below expectations prompting a downgrade.

Nvidia (Nasdaq: NVDA) blamed continued economic weakness for lowering its second quarter revenue guidance.

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 653.


An unexpected drop in durable goods orders sent the markets down to a lower close with the Dow losing 39 points to 10,497. Nasdaq dropped 23 points to 2264.

On the upside

Basic Energy Services (NYSE: BAS) narrowed second quarter losses as revenue climbed.

Las Vegas Sands (NYSE: LVS) narrowed second quarter losses more than expected on sharply higher revenue.

FuelCell Energy (Nasdaq: FCEL) announced net proceeds of approximately $4.2 million from the sale of 3.6 million common shares.

On the downside

East West Bancorp (Nasdaq: EWBC) reversed year ago losses to post a better than expected profit for the second quarter but the company warned of greater than expected expenses in the current quarter.

Allos Therapeutics (Nasdaq: ALTH) widened losses for the second quarter as expenses soared.

Second quarter earnings for International Game Technology (NYSE: IGT) rose but the company forecast full year results below analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 650.

The markets traded lower during the midday with the Dow falling 17 points to 10,520 over an unexpected drop in durable goods orders. Nasdaq lost 13 points to 2275.

On the upside

Silicon Image (Nasdaq: SIMG) reported an unexpected profit for the second quarter as revenue climbed and forecast third quarter revenue ahead of expectations.

CB Richard Ellis Group (NYSE: CBG) reversed year ago losse to post a better than expected profit for the second quarter.

Affymetrix (Nasdaq: AFFX) will develop and market the Axiom Chinese myDesign Genotyping Array designed specifically for Chinese populations.

On the downside

FormFactor (Nasdaq: FORM) narrowed second quarter losses but the stock price fell.

Eastman Kodak (NYSE: EK) disappointed with a larger than expected loss for the second quarter.

Websense (Nasdaq: WNSN) disappointed with lower second quarter earnings and forecast third quarter revenue below analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 655.

A drop in durable goods orders weighed the markets down to a lower open with the Dow losing 22 points to 10,515. Nasdaq fell 7 points to 2280.

On the upside

Health Grades (Nasdaq: HGRD) reported higher second quarter earnings that topped analyst estimates and announced that private equity firm Vestar Capital Partners will acquire the company for approximately $294 million.

Enbridge Energy Partners (NYSE: EEP) will pay approximately $682 million in cash to acquire Atlas Pipeline Partners' (NYSE: APL) Elk City facilities.

Second quarter earnings for Wyndham Worldwide (NYSE: WYN) rose to beat expectations prompting the company to lift its full year guidance.

On the downside

Allos Therapeutics (Nasdaq: ALTH) widened second quarter losses.

Century Aluminum (Nasdaq: CENX) swung to a profit for the second quarter but the results fell short of estimates.

Global Payments (NYSE: GPN) reported lower fourth quarter earnings that fell short of expectations and forecast 2011 results below estimates prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 660.

It was a mixed close for the markets with the Dow adding 12 points to 10,537 due to a larger than expected drop in consumer confidence. Nasdaq lost 8 points to 2288.

On the upside

PrivateBancorp (Nasdaq: PVTB) reported a loss for the second quarter that was narrower than expected.

Second quarter earnings for Unisys (NYSE: UIS) more than tripled.

Ferro (NYSE: FOE) reversed year ago losses to post a second quarter profit as revenue climbed.

On the downside

Mindspeed Technologies (Nasdaq: MSPD) swung to a profit for the third quarter but the stock price tumbled.

Sanofi-Aventis requested that a district court order the Food and Drug Administration to withdraw its approval of Momenta's (Nasdaq: MNTA) generic version of Sanofi's blood thinner Lovenox.

Range Resources (NYSE: RRC) reversed year ago losses but the results missed expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 662.


The markets traded mixed during the midday with the Dow rising 22 points to 10,548 while Nasdaq lost 8 points to 2287 as consumer confidence fell more than expected.

On the upside

Lexmark International (NYSE: LXK) impressed with second quarter earnings that surged more than five times to surpass analyst estimates by a wide margin.

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

Ultra Clean (Nasdaq: UCTT) swung to a profit for the second quarter as revenue more than tripled.

On the downside

Second quarter earnings for Volterra Semiconductor (Nasdaq: VLTR) surged but the stock price tumbled.

Sanmina (Nasdaq: SANM) reversed year ago losses to post a third quarter profit but the results fell short of expectations.

Second quarter earnings for Masco (NYSE: MAS) topped estimates but the company warned of a challenging second half of the year.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 660.

Embattled BP chief executive Tony Hayward will be step aside on October 1 to be replaced by Robert Dudley. The markets opened flat with the Dow adding 5 points to 10,531 while Nasdaq lost 4 points to 2292.

On the upside

Regions Financial (NYSE: RF) reported a narrower than expected loss for the second quarter.

Second quarter earnings surged for DuPont (NYSE: DD) to top estimates as revenue climbed and the chemical company lifted its full year guidance.

The International Trade Commission ruled that Nvidia (Nasdaq: NVDA), Hewlett-Packard (NYSE: HPQ) and others infringed on Rambus' (Nasdaq: RMBS) chip patents.

On the downside

While Zoran (Nasdaq: ZRAN) narrowed second quarter losses, the results fell short of expectations and the chipmaker forecast third quarter results below analyst estimates.

Level 3 Communications (Nasdaq: LVLT) widened second quarter losses.

Thermo Fisher Scientific (NYSE: TMO) reported higher second quarter earnings but the results fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 669.

A surge in new home sales lifted the markets to a higher close with the Dow climbing 100 points to 10,525. Nasdaq soared 26 points to 2296.

On the upside

Shares of Level 3 (Nasdaq: LVLT) rose ahead of its earnings release tomorrow.

The Food and Drug Administration approved a higher dose version of Pfizer's (NYSE: PFE) and Eisai's Alzheimer's treatment Aricept.

Advanced Micro Devices (NYSE: AMD) will sell $500 million in senior notes through a private offering.

General Electric (NYSE: GE) received the final environmental permit to build its $100 million advanced battery plant in New York.

Unexpectedly strong new home sales lifted share of Comstock Homebuilding Companies (Nasdaq: CHCI).

Shares of Regions Financial (NYSE: RF) climbed ahead of its earnings report tomorrow morning.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 665.

The markets advanced during the midday with the Dow climbing 63 points to 10,487 as new home sales rise more than expected. Nasdaq gained 16 points to 2285.

On the upside

Rumors circulated that Star Scientific (Nasdaq: CIGX) may be acquired.

Astrotech (Nasdaq: ASTC) won a $9.5 million contract to provide payload processing services to NASA.

Second quarter earnings rose for China Security and Surveillance Technology (NYSE: CSR) and the company forecast full year results ahead of estimates.

On the downside

Noah Education Holdings (NYSE: NED) blamed disruptions caused by a new channel realignment initiative for slashing its fourth quarter revenue guidance.

Gilead Sciences (Nasdaq: GILD) will raise capital through the offering of approximately $2.2 billion worth of senior convertible notes.

Shares of Rosetta Stone (NYSE: RST) continued falling after forecasting second quarter revenue below expectations last week.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 660.

New home sales climbed last month to lift the markets to a higher open with the Dow gaining 59 points to 10,484. Nasdaq rose 10 points to 2280.

On the upside

Onyx Pharmaceuticals (Nasdaq: ONXX) reported positive results from a Phase 2b clinical trial of its multiple myeloma treatment carfilzomib.

Barclays Capital analyst Vishal Shah upgraded A123 Systems (Nasdaq: AONE) and lifted his price target on the company to $16 from $14.

FedEx (NYSE: FDX) raised its earnings guidance for the first quarter as well as the full year.

On the downside

Goldman Sachs added Chico's FAS (NYSE: CHS) to its conviction sell list.

Second quarter earnings for FMC Technologies (NYSE: FTI) dropped as revenue fell.

Shares of LM Ericsson (Nasdaq: ERIC) continued to fall after reporting last week that second quarter earnings missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 656.

The markets advanced in afternoon trading with the Dow climbing 102 points to 10,424 after upbeat results from European bank stress tests. Nasdaq gained 23 points to 2269.

On the upside

The Wall Street Journal reported that Sanofi-Aventis engaged Genzyme (Nasdaq: GENZ) in preliminary discussions to explore the possibility of acquiring the company.

The Department of Education announced new gainful employment regulations that were not as onerous as expected lifting shares of DeVry (NYSE: DV).

Align Technology (Nasdaq: ALGN) reported sharply higher second quarter income as revenue climbed.

On the downside

VCA Antech (Nasdaq: WOOF) reported higher second quarter income but the results fell short of estimates prompting a downgrade.

BancorpSouth (NYSE: BXS) disappointed with an unexpected loss for the second quarter as loan loss provisions nearly tripled.

Wilmington Trust (NYSE: WT) blamed higher loan loss provisions for widening second quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 15 points to 650.


The markets traded mixed during the midday with the Dow rising 12 points to 10,334 after seven European banks out of a total of 91 failed stress tests. Nasdaq lost 6 points to 2239.

On the upside

Infinera (Nasdaq: INFN) narrowed second quarter losses as revenue soared.

Second quarter earnings fell for AthenaHealth (Nasdaq: ATHN) but the results beat expectations.

The Food and Drug Administration approved Momenta Pharmaceuticals' (Nasdaq: MNTA) generic version of Sanofi-Aventis' blood thinner Lovenox(R).

On the downside

Although first quarter earnings rose for QLogic (Nasdaq: QLGC), revenue fell short of expectations.

Great Atlantic & Pacific Tea (NYSE: GAP) widened first quarter losses as revenue dropped and the supermarket chain announced the replacement of chief executive Ron Marshall with Sam Martin.

Gleacher & Co. (Nasdaq: GLCH) disappointed by swinging to a second quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 638.

The markets opened lower with the Dow losing 13 points to 10,309 as investors await the results of Eurpean bank stress tests. Nasdaq fell 12 points to 2233.

On the upside

Microsoft (Nasdaq: MSFT) extended its licensing agreement with ARM (Nasdaq: ARMH).

Quicksilver Resources (NYSE: KWK) announced the sale of its wholly owned Quicksilver Gas Services (NYSE: KGS) partnership to Crestwood Midstream Partners II for $701 million in cash.

Ford (NYSE: F) reported higher second quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

Although Amazon (Nasdaq: AMZN) reported higher second quarter earnings, the results fell short of expectations prompting a downgrade.

Second quarter earnings climbed for Ericsson (Nasdaq: ERIC) but still missed analyst estimates.

Second quarter earnings for Beckman Coulter (NYSE: BEC) dropped and the company forecast full year results that missed expectations prompting downgrades.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 632.

Strong corporate results and upbeat outlooks boosted the markets to a sharply higher close with the Dow rocketing 201 points to 10,322. Nasdaq jumped 58 points to 2245.

On the upside

Lance (Nasdaq: LNCE) reported higher second quarter earnings and announced that it will merge with Snyder's.

Advanced Energy Industries (Nasdaq: AEIS) reversed year ago losses to post a profit for the second quarter and announced the sale of its flow business for $44 million in cash.

Invacare (NYSE: IVC) reported second quarter earnings and revenue that surpassed analyst estimates and lifted its full year guidance.

On the downside

Insteel Industries (Nasdaq: IIIN) disappointed with third quarter earnings that fell far short of analyst estimates.

Motorola (NYSE: MOT) sued Huawei Technologies for allegedly stealing trade secrets.

Boston Scientific (NYSE: BSX) discovered defects in three older models of its implantable defibrillators.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 22 points to 635.


A smaller than expected slip in the leading economic indicators index along with strong earnings reports sent the markets soaring during the midday with the Dow leaping 216 points to 10,337. Nasdaq surged 55 points to 2242.

On the upside

DayStar Technologies (Nasdaq: DSTI) engaged in discussions with potential partners to manufacture the company's CIGS solar modules offshore.

Isilon Systems (Nasdaq: ISLN) reversed year ago losses to post a better than expected profit for the second quarter and lifted its revenue outlook for the year.

Royal Caribbean Cruises (NYSE: RCL) swung to a second quarter profit and raised its full year guidance.

On the downside

While fourth quarter earnings rose for Western Digital (NYSE: WDC), the results missed estimates.

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

Medco Health Solutions (NYSE: MHS) reported higher second quarter earnings but the company's profit per prescription fell.

In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 630.

Upbeat corporate earnings news lifted the markets to a higher open with the Dow jumping 191 points to 10,312. Nasdaq leaped 51 points to 2187.

On the upside

General Motors will acquire AmeriCredit (NYSE: ACF) for approximately $3.5 billion in cash.

Qualcomm (Nasdaq: QCOM) reported higher third quarter earnings that topped analyst estimates.

Second quarter earnings for Xerox (NYSE: XRX) surged to beat expectations prompting the company to lift its full year outlook.

On the downside

Although Mellanox Technologies (Nasdaq: MLNX) reported higher second quarter earnings that beat expectations, the company forecast third quarter revenue below estimates.

Second quarter earnings rose for Netflix (Nasdaq: NFLX) but revenue missed expectations prompting a downgrade.

SolarWinds (NYSE: SWI) reported higher second quarter earnings but forecast third quarter income below analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 17 points to 629.

Federal Reserve Chairman Ben Bernanke's comments that the economy remains fragile and unusually uncertain sent the markets tumbling to a sharply lower close with the Dow plunging 109 points to 10,120. Nasdaq plummeted 35 points to 2187.

On the upside

Second quarter earnings for Eaton (NYSE: ETN) soared to beat expectations by a wide margin as international sales climbed.

Ethan Allen (NYSE: ETH) announced that it expects to post a profit for the fourth quarter.

CNH Global (NYSE: CNH) swung to a second quarter profit as sales rebounded.

On the downside

Dearborn Bancorp (Nasdaq: DEAR) widened second quarter losses.

Fulton Financial (Nasdaq: FULT) reported higher second quarter earnings but the results missed estimates.

Genco Shipping (NYSE: GNK) will raise funds to purchase 18 drybulk vessels through an offering of $100 million in senior convertible notes and the sale of 2.8 million common shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 612.

The markets traded near the flatline during the midday with the Dow adding 4 points to 10,234 amidst mixed corporate earnings. Nasdaq slipped 2 points to 2219.

On the upside

Cytec Industries (NYSE: CYT) reversed year ago losses to post a better than expected second quarter profit that beat expectations and raised its full year outlook.

Cost cutting measures lifted United Rentals (NYSE: URI) to an unexpected second quarter profit.

Complete Production Services (NYSE: CPX) swung to a second quarter profit that surpassed analyst expectations.

On the downside

Comtech Telecommunications (Nasdaq: CMTL) failed to land a contract with the Army to manage the Force XXI Battle Command Brigade and Below, Blue Force Tracking 2 program.

Harrah's Operating Co. will not renew its agreement with Global Cash Access Holding (NYSE: GCA). Global Cash scheduled a conference call today at 2pm ET to discuss the contract loss.

Although Sallie Mae (NYSE: SLM) swung to a profit for the second quarter, the student lender announced that it must increase its reserves for possible increases in private-credit portfolio losses.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 623.

Mixed Open Over Mixed Earnings

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The markets opened mixed with the Dow rising 19 points to 10,249 while Nasdaq lost 7 points to 2215 over mixed earnings.

On the upside

First quarter earnings for Cirrus Logic (Nasdaq: CRUS) surged to top estimates as demand recovered and the chip maker forecast second quarter revenue ahead of expectations.

Morgan Stanley (NYSE: MS) reversed year ago losses to post a better than expected profit for the second quarter.

Textron (NYSE: TXT) swung to a better than expected profit and lifted its full year outlook as the company cut expenses.

On the downside

Although Seagate Technology (Nasdaq: STX) swung to a fourth quarter profit as revenue rose, the results fell short of expectations.

While Yahoo's (Nasdaq: YHOO) earnings soared, revenue missed analyst estimates.

Stryker (NYSE: SYK) reported higher second quarter earnings but revenue came in below expectations.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners outpaced advancers by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 623.

Markets Recover To Close Higher

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The markets recovered in late afternoon trading with the Dow climbing 75 points to 10,229 as investors await further earnings reports. Nasdaq gained 24 points to 2222.

On the upside

UBS analyst Timna Tanners upgraded Schnitzer Steel (Nasdaq: SCHN) to a Buy rating citing higher scrap prices.

Cowen & Co. analyst Laura Champine upgraded J. Crew (NYSE: JCG) to an Outperform rating citing the company's attractive stock price.

Second quarter earnings for Packaging Corp. of America (NYSE: PKG) tumbled but the results topped analyst estimates.

On the downside

Honda announced plans to sell electric vehicles and plug-in hybrids beginning in 2010 sending shares of Tesla tumbling (Nasdaq: TSLA).

LaBranche & Co. (NYSE: LAB) disappointed by swinging to a loss for the second quarter.

Second quarter earnings for Metals USA (NYSE: MUSA) plunged to fall far short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 11 points to 624.

The markets traded lower during the midday with the Dow dropping 62 points to 10,092 over disappointing earnings. Nasdaq fell 15 points to 2182.

On the upside

MGIC Investment (NYSE: MTG) swung to a profit for the second quarter due to fewer defaults and delinquencies.

Cliffs Natural Resources (NYSE: CLF) increased its stake in Spider Resources from 52.1% to approximately 81.8%.

Concho Resources (NYSE: CXO) will pay approximately $1.65 billion to acquire privately held Marbob Energy.

On the downside

Second quarter earnings for Texas Instruments (NYSE: TXN) nearly tripled but revenue fell short as Nokia orders declined.

Several firms rumored to be interested in acquiring Radio Shack (NYSE: RSH) have reportedly withdrawn from discussions.

While Marshall & Ilsley (NYSE: MI) narrowed second quarter losses, the results still fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 609.

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A sharp plunge in June home construction weighed down the markets to a lower open with the Dow tumbling 83 points to 10,071. Nasdaq dropped 25 points to 2173.

On the upside

Second quarter earnings surged for Harley-Davidson (NYSE: HOG) despite a drop in revenue as the company continues restructuring.

The Food and Drug Administration accepted MannKind's (Nasdaq: MNKD) resubmission for its inhaled insulin Afrezza.

Weatherford International (NYSE: WFT) swung to a second quarter loss due to acquisition related expenses but the results topped analyst estimates.

On the downside

Zion Bancorporation (Nasdaq: ZION) widened second quarter losses more than expected.

Atheros Communications (Nasdaq: ATHR) swung to a better than expected profit for the second quarter but weakness in its PC unit weighed down shares of the semiconductor system solutions company.

Although second quarter earnings rose for Tupperware Brands (NYSE: TUP), the results fell short of expectations and the company warned that third quarter results will miss estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 605.

Despite a drop in homebuilder sentiment, the markets closed higher with the Dow gaining 56 points to 10,154 over merger and acquisition news. Nasdaq climbed 19 points to 2198.

On the upside

Evergreen International Balanced Income Fund (NYSE: EBI) will liquidate the fund after business close on Monday, August 16, 2010.

Motorola (NYSE: MOT) will sell its wireless networks business to Nokia Siemens Networks for approximately $1.2 billion.

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) continued to soar on hopes that its obesity treatment lorcaserin.

On the downside

Shares of Apple (Nasdaq: AAPL) fell ahead of its earnings release tomorrow as analysts voiced concerns that profit margins may disappoint.

Goldman Sachs removed Bank of America (NYSE: BAC) from its conviction buy list.

Radio One (Nasdaq: ROIAK) extended the expiration date of its exchange offer to July 31 from July 15..

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


Markets Extend Gains

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The markets extended its gains during the midday with the Dow rising 34 points to 10,132. Nasdaq added 5 points to 2184.

On the upside

Private equity firm Onex offered approximately $4.38 billion in cash for Tomkins (NYSE: TKS).

Halliburton (NYSE: HAL) impressed with sharply higher second quarter earnings and revenue that easily topped analyst estimates.

Shares of for profit educators Corinthian Colleges (Nasdaq: COCO) and ITT Educational Services (NYSE: ESI) rose on rumors that the Department of Education's proposed post graduation gainful employment requirements for continued student loan funding will be less onerous than expected.

On the downside

Shares of Transocean (NYSE: RIG) fell over concerns of leakage from the capped oil well in the Gulf of Mexico.

Homebuilder sentiment plunged to weigh down shares of Hovnanian Enterprises (NYSE: HOV).

McMoRan Exploration (NYSE: MMR) narrowed losses for the second quarter but also cut its full year production guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 609.

The markets opened modestly higher with the Dow adding 3 points to 10,101 as economists affirmed growth in the second quarter but at a slower pace. Nasdaq rose 2 points to 2181.

On the upside

Ramius announced an all cash deal valued at approximately $184 million to acquire Cypress Bioscience (Nasdaq: CYPB).

Genco Distribution System will pay approximately $512.6 million in cash to purchase ATC Technology (Nasdaq: ATAC).

Reliance Industries entered discussions to either acquire or partner with Quicksilver Resources (NYSE: KWK).

On the downside

Delta Air Lines (NYSE: DAC) reversed year ago losses to post a second quarter profit but revenue fell short of expectations.

Concerns about a leak from the capped well weighed down shares of BP (NYSE: BP), which has already spent approximately $4 billion on the oil spill in the Gulf of Mexico.

PetMed Express (Nasdaq: PETS) disappointed with lower first quarter earnings that fell short of expectations.

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

Disappointing earnings along with falling consumer sentiment sent the markets into a tailspin with the Dow collapsing 261 points to close at 10,097. Nasdaq plummeted 70 points to 2179.

On the upside

VocalTec (Nasdaq: VOCL) announced a 1-for-5 reverse stock split.

Wall Street Equity Research issued an upbeat report on Tellabs (NYSE: TLAB) citing improving market conditions.

Shareholders of SandRidge Energy (NYSE: SD) and Arena Resources (NYSE: ARD) approved the proposed merger between the two companies.

On the downside

Second quarter earnings plunged for Citigroup (NYSE: C) as revenue dropped in its investment banking unit.

Although Bank of America (NYSE: BAC) reported higher second quarter earnings that topped analyst expectations, revenue fell sparking concerns about future profitability.

Second quarter earnings for General Electric (NYSE: GE) rose to beat expectations but revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 24 points to 610.


A sharper than expected drop in consumer sentiment sent the markets tumbling during the midday with the Dow plummeting 228 points to 10,131. Nasdaq sank 57 points to 2191.

On the upside

Shares of Qlik Technologies (Nasdaq: QLIK) surged on its initial trading day.

People's United Financial (Nasdaq: PBCT) will pay approximately $96 million in cash to acquire LSB (Nasdaq: LSBX).

Investors rallied around Arena Pharmaceuticals' (Nasdaq: ARNA) obesity treatment Iorcaserin, which is awaiting approval and has fewer side effects than Vivus' (Nasdaq: VVUS) Qnexa.

On the downside

Second quarter earnings for Polycom (Nasdaq: PLCM) slipped even as revenue grew due to a drop in the company's high margin network systems unit.

Gannett (NYSE: GCI) reported sharply higher second quarter earnings but revenue dropped.

Standard & Poor's downgraded Live Nation Entertainment (NYSE: LYV) while Stifel Nicolaus cut its price target on the concert producer.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 622.

Disappointing earnings sent the markets down to a sharply lower open with the Dow plunging 171 points to 10,187. Nasdaq plummeted 42 points to 2206.

On the upside

The government awarded AVI Biopharma (Nasdaq: AVII) a contract worth a potential $291 million to develop therapeutic candidates for Ebola and Marburg viruses.

Goldman Sachs (NYSE: GS) agreed to settle civil fraud charges brought by the Securities and Exchange Commission with the payment of a $550 million fine.

Although Charles Schwab (NYSE: SCHW) reported flat second quarter earnings, the results topped analyst estimates.

On the downside

A Food and Drug Administration advisory panel rejected Vivus' (Nasdaq: VVUS) obesity treatment Qnexa citing safety concerns.

Google (Nasdaq: GOOG) reported higher second quarter earnings but the results fell short of expectations.

Second quarter earnings for Mattel (Nasdaq: MAT) more than doubled but still missed estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 622.

The markets closed flat with the Dow slipping 7 points to 10,359 as investors anticipate a settlement between Goldman Sachs and the Securities and Exchange Commission for securities fraud. Nasdaq eased a fraction to 2249.

On the upside

Rodman & Renshaw initiated coverage of Akorn (Nasdaq: AKRX) with a Market Outperform rating.

Susquehanna Financial Group analyst C. Ming Zhao upgraded Sina (Nasdaq: SINA) and set a price target of $50 on the stock saying that the company's microblogging site Sina Weibo is experiencing phenomenal growth.

Bloomberg reported that L-1 Identity Solutions (NYSE: ID) entered negotiations to sell its biometric data tracking unit to Safran.

On the downside

Live Nation Entertainment (NYSE: LYV) reported a drop in ticket sales for the first half of 2010 and warned of lower sales in the second half of the year as well.

Shares of Kulicke & Soffa Industries (NYSE: KLIC) continued to fall after revealing yesterday that a number of orders were pushed out in the fourth quarter.

A Food and Drug Administration advisory panel rejected Vivus' (Nasdaq: VVUS) obesity treatment Qnexa citing safety concerns. Shares of Vivus were halted while Orexigen Therapeutics (Nasdaq: OREX) and Arena Pharmaceuticals (Nasdaq: ARNA), which both have diet drugs awaiting approval, both dropped.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 634.


The markets trimmed its losses but continued to trade in negative territory with the Dow falling 56 points to 10,309 as producer prices dropped more than expected. Nasdaq lost 12 points to 2237.

On the upside

Publicis Touchpoint Solutions signed a contract to promote Somaxon Pharmaceuticals' (Nasdaq: SOMX) insomnia treatment Silenor.

Skilled Healthcare Group (NYSE: SKH) and the plaintiffs in a lawsuit claiming inadequate staffing and safety code violations agreed to stay all litigation proceedings and pursue mediation.

K-V Pharmaceuticals (NYSE: KV-A) announced the appointment of Thomas S. McHugh to the position of chief financial officer.

On the downside

Key Energy Services (NYSE: KEG) reported lower sequential rig hours per working day.

Although second quarter earnings for TCF Financial (NYSE: TCB) rose to top estimates, non-performing assets increased.

Regions Financial (NYSE: RF) named Lynetta Tipton Steed to lead its small buisness loans division.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 631.

A sharp plunge in the Empire State Manufacturing index sent the markets tumbling to a lower open with the Dow plummeting 120 points to 10,246. Nasdaq dropped 30 points to 2219.

On the upside

Carlyle Group will pay approximately $3.8 billion in cash to acquire NBTY (NYSE: NTY).

Verenium (Nasdaq: VRNM) will sell its cellulosic biofuels business to BP (NYSE: BP) for approximately $98.3 million.

Nokia (NYSE: NOK) will release second quarter earnings next Thursday, July 22, 2010.

On the downside

Range Resources (NYSE: RRC) increased production of natural gas in the second quarter but prices fell.

Piper Jaffray analyst Ahmar Zaman downgraded Veeco Instruments (Nasdaq: VECO) and slashed the price target to $44 from $69.

Intel (Nasdaq: INTC) reported sharply higher second quarter earnings that surpassed expectations, but analysts warned of a challenging economic environment.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 638.

The markets closed near the flatline with the Dow adding 3 points to 10,366 after the Federal Reserve trimmed its gross domestic product growth projection. Nasdaq rose 7 points to 2249.

On the upside

HSW International's (Nasdaq: HSWI) BoWenWang website entered a content distribution and branding relationship with NetEase (Nasdaq: NTES).

The Food and Drug Adminstration granted Keryx Biopharmaceuticals' (Nasdaq: KERX) and Aeterna Zentaris' neuroblastoma treatment KRX-0401 orphan drug status.

Goldman Sachs analyst Sal Tharani upgraded AK Steel (NYSE: AKS) to a Buy rating saying that earnings will increase.

On the downside

Kulicke & Soffa (NYSE: KLIC) said that some orders in the fourth quarter were pushed out.

Credit Suisse analyst Thomas Gallagher downgraded Lincoln National (NYSE: LNC) and lowered his price target on the insurance company.

Cal Dive International (NYSE: DVR) will release earnings after market close on July 28 and hold a conference call on July 29 at 10am.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 640.

Better than expected earnings lifted the markets modestly during the midday with the Dow rising 27 points to 10,390. Nasdaq gained 13 points to 2255.

On the upside

Motorola's (NYSE: MOT) and ExtenData's Direct Store Delivery solution was selected by Foster Farms Dairy to improve operations and increase delivery route productivity.

Monsanto (NYSE: MON) chairman, chief executive and president Hugh Grant purchased nearly $2 million worth of company stock while chief financial officer Carl M. Casale bought approximately $1.5 million in stock.

Expeditors International of Washington (Nasdaq: EXPD) issued a second quarter outlook well above analyst estimates.

On the downside

Ritchie Bros. Auctioneers (NYSE: RBA) will provide a second quarter update and a revised 2010 outlook in a conference call tomorrow, July 15.

Morgan Stanley analyst Katy Huberty downgraded Lexmark International (NYSE: LXK) to and Underweight rating citing increased competition.

A drop in home loan applications weighed down shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC).

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 641.

Mixed Open As Retail Sales Fall

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The markets markets opened mixed despite impressive earnings by Intel as June retail sales fell. The Dow lost 19 points to 10,343 while Nasdaq added 3 points to 2245.

On the upside

Intel (Nasdaq: INTC) reversed year ago losses to post a better than expected second quarter profit as revenue climbed and the chipmaker forecast third quarter revenue ahead of estimates.

Jackson Hewitt (NYSE: JTX) reported higher fourth quarter earnings that beat expectations as the tax preparation company cut expenses.

ADTRAN (Nasdaq: ADTN) impressed with higher second quarter earnings and revenue that beat expectations. The company also declared a quarterly dividend of 9 cents per share payable on August 12, 2010 to shareholders of record July 29, 2010.

On the downside

According to a Bloomberg, Glas Securities said that Allied Irish Banks (NYSE: AIB) may not pass European stress tests.

Whitney Holding (Nasdaq: WTNY) warned of higher credit loss provisions for the second quarter.

Annaly Capital Management (NYSE: NLY) will raise approximately $1.1 billion through the offering of 60 million common shares.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 4 points to 638.

The markets closed sharply higher with the Dow surging 146 points to 10,363 as earnings impressed. Nasdaq jumped 43 points to 2242.

On the upside

Standard Pacific (NYSE: SPF) will release second quarter earnings after market close on Thursday, July 29, 2010.

Flagstar Bancorp (NYSE: FBC) regained listing compliance with the NYSE.

Brooks Automation (Nasdaq: BRKS) lifted its third quarter guidance above analyst expectations.

On the downside

Consumer Reports refused to recommend Apple's iPhone 4 (Nasdaq: AAPL) citing reception problems.

Bank of America/Merrill Lynch analyst Vivek Arya initiated coverage of Calix (NYSE: CALX) with an Underperform rating citing valuation concerns.

BioMimetic Therapeutics (Nasdaq: BMTI) will raise capital through the offering of 5 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 21 points to 642.


Investors embraced upbeat corporate earnings to lift the markets higher during the midday with the Dow leaping 144 points to 10,360. Nasdaq surged 31 points to 2229.

On the upside

Tyco Electronics (NYSE: TEL) will acquire ADC Telecommunications (Nasdaq: ADCT) for approximately $1.24 billion.

Ivanhoe Mines (NYSE: IVN) exercised its contractual rights with joint venture partner Rio Tinto (NYSE: RTP) to issue 5% of its common shares to a third party investor.

British private equity firm Primary Capital will pay approxmately $31 million to acquire Borders Group's (NYSE: BGP) stationery business Paperchase Products.

On the downside

BPZ Resources (NYSE: BPZ) completed the drilling of its CX11-22D well and will appraise its potential oil and gas reserves while the spudding of the CX11-23D well has been completed.

Hi-Tech Pharmacal (Nasdaq: HITK) reported higher fourth quarter earnings as revenue rose but profit fell short of expectations.

L-1 Identity Solutions (NYSE: ID) cut its revenue guidance for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 635.

Upbeat earnings news lifted the markets to a higher open with the Dow soaring 138 points to 10,354. Nasdaq climbed 24 points to 2222.

On the upside

Alcoa (NYSE: AA) reversed year ago losses to post a better than expected second quarter profit as demand increased.

A Food and Drug advisory panel noted certain side effects to Vivus' (Nasdaq: VVUS) obesity treatment Qnexa but said that use of the drug does result in significant loss of weight.

Fund manager Bruce Berkowitz acquired an 11% stake in MBIA (NYSE: MBI).

On the downside

Amedisys (Nasdaq: AMED) warned that second quarter earnings will fall short of expectations prompting a downgrade.

Stifel Nicolaus downgraded CommVault (Nasdaq: CVLT) after the company announced lower preliminary second quarter results.

Infosys Technologies (Nasdaq: INFY) reported an unexpected drop in first quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 1 on the NYSE and by a margin of 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 631.

The beginning of earnings season lifted the markets to a modestly higher close with the Dow rising 18 points to 10,216. Nasdaq added a point to 2198.

On the upside

Wedbush Securities analyst Al Kaschalk upgraded EnergySolutions (NYSE: ES) to an Outperform rating saying that the company should be able to obtain a credit facility waiver at market interest rates.

UBS upgraded SanDisk (Nasdaq: SNDK) to a Buy rating and lifted its earnings estimate for the Flash memory card maker.

Marvell Technology (Nasdaq: MRVL) unveiled its new Chinese name for the company, Mei Man, which means beautiful harmony.

On the downside

R. W. Baird analyst Daniel Leben downgraded Acxiom (NYSE: ACXM) citing weakening market conditions.

Mosaic (NYSE: MOS) warned that it may lose its permits to operate a Florida phosphate mine.

Energy Recovery (Nasdaq: ERII) will release second quarter results after market close on Thursday, August 5, 2010.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by a margin of nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 621.

The markets traded near the flatline during the midday with the Dow adding 5 points to 10,203 as investors nervously anticipate corporate earnings. Nasdaq edged up a fraction to 2196.

On the upside

Weyerhaeuser (NYSE: WY) announced a special dividend of approximately $5.6 billion to be paid on September 1 to shareholders of record July 22.

A Barron's article over the weekend spotlighted Nidec (NYSE: NJ) as an attractive long term investment.

China MediaExpress Holdings (Nasdaq: CCME) lifted its full year earnings guidance.

On the downside

Citigroup initiated coverage of Suntech Power (NYSE: STP) with a Sell rating.

Data on Vivus' (Nasdaq: VVUS) obesity treatment Qnexa will be presented today at the 11th International Congress on Obesity in Stockholm, Sweden. Also, the Food and Drug Administration should release its review of Qnexa today.

ThinkEquity upgraded STEC (NYSE: STEC) to a Buy rating but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 621.

The markets opened mixed ahead of earnings season with the Dow slipping 5 points to 10,192 while Nasdaq added 3 points to 2200.

On the upside

Aon (NYSE: AON) will pay approximately $4.9 billlion in cash and stock to acquire Hewitt Associates (NYSE: HEW).

Playboy Enterprises (NYSE: PLA) founder Hugh Hefner offered to take the company private.

The Wall Street Journal reported that Apache (NYSE: APA) entered discussions to acquire $10 billion worth of assets from BP (NYSE: BP).

On the downside

UBS downgraded Aetna (NYSE: AET) and cut its price target on the stock to $30 per share from $38.

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

Pengrowth (NYSE: PGH) announced plans to acquire Monterey Exploration.

In the broad market, advancing issues were on par with decliners on the NYSE while advancers outpaced decliners by a margin of nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 628.

The Chinese government renewed Google's license to operate in the country. The markets closed modestly higher with the Dow gaining 59 points to 10,198. Nasdaq climbed 21 points to 2196.

On the upside

RAIT Financial Trust (NYSE: RAS) will release second quarter earnings before markets open on Friday, July 23.

GMX Resources (NYSE: GMXR) expects third quarter production to rise sequentially.

GenCorp (NYSE: GY) reported higher second quarter earnings yesterday as revenue climbed.

On the downside

Rodman & Renshaw analyst Elemer Piros downgraded Vivus (Nasdaq: VVUS) citing possible safety concerns over its obesity treatment Qnexa.

Shares of Baidu (Nasdaq: BIDU) fell after the Chinese government renewed Google's (Nasdaq: GOOG) license.

Nokia (Nasdaq: NOK) requested assistance from the Russian police for the return of a prototype smartphone in the possession of blogger Eldar Murtazin.

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 soared 9 points to 629.


Markets Flat As Sales Drop

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The markets traded near the flatline during the midday with the Dow adding 5 points to 10,143 as a drop in sales tempered news of better than expected gain in wholesale inventories. Nasdaq rose 5 points to 2180.

On the upside

Monsanto (NYSE: MON) will pay a $2.5 million fine to the Environmental Protection Agency for selling mislabeled genetically altered cotton seeds.

Wendy's (NYSE: WEN) introduced four new salads to its menu and will test breakfast items at select locations.

Fortress Investment (NYSE: FIG) bought approximately $232 million worth of loans made to DaVinci Holdings.

On the downside

The Department of Education will review Grand Canyon Education's (Nasdaq: LOPE) federal student loan program processes and procedures.

Big 5 Sporting Goods (Nasdaq: BGFV) blamed the weak economy and cold weather on the West Coast for lowering its second quarter guidance.

NTP sued smartphone makers Apple (Nasdaq: AAPL), Google (Nasdaq: GOOG), Microsoft (Nasdaq: MSFT), Motorola (NYSE: MOT), HTC Corp. and LG Electronics for patent infringement.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 622.

A modest increase in wholesale inventories lifted the markets to a higher open with the Dow rising 27 points to 10,166. Nasdaq gained 7 points to 2183.

On the upside

Ace Limited (NYSE: ACE) will join the S&P 500, replacing Millipore (NYSE: MIL) which is being acquired by Merck KGaA.

Nanometrics (Nasdaq: NANO) affirmed its outlook for 2010 as well as 2011.

Cable company Suddenlink Communications entered a strategic relationship with TiVo (Nasdaq: TIVO) to distribute co-branded TiVo Premiere DVRs and non DVR set-top boxes.

On the downside

Conceptus (Nasdaq: CPTS) blamed the economy for lowering its second quarter and full year guidance.

Fourth quarter revenue for Regis (NYSE: RGS) missed estimates prompting a downgrade.

Moody's Investors Service downgraded Skilled Healthcare Group (NYSE: SKH) and placed the skilled nursing facilities operator's ratings under review.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 621.

Mortgage rates slipped to a 50-year low to boost the markets to a higher close with the Dow soaring 120 points to 10,138. Nasdaq climbed 15 points to 2175.

On the upside

Tesla Motors (Nasdaq: TSLA) hired former retail and real estate executive of Apple, Gap and Microsoft George Blankenship to spearhead its retail strategy.

BB&T Capital Markets upgraded Westlake Chemical (NYSE: WLK).

JA Solar Holdings (Nasdaq: JASO) will supply Solar-Fabrik with 70 megawatts of solar power.

On the downside

June same store sales for teen apparel retailer The Buckle (NYSE: BKE) tumbled 7.3%.

Aeropostale (NYSE: ARO) reported a better than expected 8% increase in same store sales but the stock price fell.

Longbow Research analyst Steve Koenig downgraded Epicor Software (Nasdaq: EPIC) citing a weak market.

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 8 points to 620.


The markets traded higher during the midday with the Dow climbing 68 points to 10,087 as initial jobless claims fall more than expected. Nasdaq gained 5 points to 2164.

On the upside

The Doctors Company will acquire American Physicians Capital (Nasdaq: ACAP) in an all cash deal valued at approximately $386 million.

Power-One (Nasdaq: PWER) will announce second quarter earnings after market close on Thursday, July 29.

Ruby Tuesday (NYSE: RT) will hold its fourth quarter earnings conference call on Thursday, July 22 at 4:30pm Eastern Time.

On the downside

Wet Seal (Nasdaq: WTSLA) disappointed with a much sharper than expected drop in same store sales.

Gap (NYSE: GPS) reported flat same store sales in June.

Same store sales rose less than expected for The TJX Cos. (NYSE: TJX).

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

First time applications for unemployment benefits fell more than expected last week to lift the markets to a higher open with the Dow gaining 53 points to 10,071. Nasdaq rose 9 points to 2168.

On the upside

Sun Bancorp (Nasdaq: SNBC) received an investment of $100 million from private equity funds affiliated with investor Wilbur Ross.

J.C. Penney (NYSE: JCP) reported a greater than expected 4.5% jump in June same store sales.

Same store sales leaped 9% for Abercrombie & Fitch (NYSE: ANF), well above analyst estimates.

On the downside

H&R Block (NYSE: HRB) chief executive Russ Smyth resigned prompting a downgrade.

While DragonWave (Nasdaq: DRWI) swung to a better than expected profit for the first quarter, revenue fell short of expectations and the company forecast disappointing second quarter results.

Oppenheimer downgraded Nanometrics (Nasdaq: NANO) and lowered its price target on the company.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 616.

Bargain hunters lifted the markets to a sharply higher close with the Dow leaping 274 points to 10,018 ahead of the government's weekly jobless claims report tomorrow. Nasdaq jumped 65 points to 2159.

On the upside

Central European Distribution (Nasdaq: CEDC) ended its acquisition pursuit of Nemiroff.

Wells Fargo analyst Sam Dubinsky raised his earnings outlook for Solarfun Power Holdings (Nasdaq: SOLF).

Shares of Baidu (Nasdaq: BIDU) rose as China's Ministry of Industry and Information Technology continues to review Google's (Nasdaq: GOOG) Internet content provider license renewal.

Wells Fargo (NYSE: WFC) will close its subprime loan unit, which will cut 3,800 jobs.

Borders Group (NYSE: BGP) launched its eBook store with over 1.5 million titles including thousands of free titles.

On the downside

Zoo Entertainment (Nasdaq: ZOO) priced its offering of 1.6 million common shares at $6.00 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased surged 21 points to 611.

Markets Extend Gains At Midday

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The markets extended its gains during the midday with the Dow soaring 116 points to 9860 as credit card delinquencies fell. Nasdaq climbed 23 points to 2116.

On the upside

The AES Corp. (NYSE: AES) will repurchase up to $500 million worth of common stock.

US Airways Group (NYSE: LCC) reported a 2.9% increase in June traffic.

Vishay Intertechnology (NYSE: VSH) completed its spin-off of Vishay Precision Group (NYSE: VPG).

On the downside

FTI Consulting (NYSE: FCN) warned of lower second quarter earnings that will fall short of expectations and cut its full year guidance prompting a downgrade.

Although Family Dollar Stores (NYSE: FDO) reported higher third quarter earnings, the discount retail chain forecast fourth quarter results below estimates.

NexMed (Nasdaq: NEXMD) regained compliance for listing on Nasdaq but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased climbed 7 points to 597.

A drop in credit card delinquencies lifted the markets to a higher open with the Dow climbing 75 points to 9819. Nasdaq gained 18 points to 2112.

On the upside

Dell (Nasdaq: DELL) qualified Netlist's (Nasdaq: NLST) NetVault NV to support RAID storage applications on PowerEdged servers and PowerVault Direct Attached Storage solutions.

Zanett (Nasdaq: ZANE) reported record signed contracts in the second quarter of more than $20.6 million in new business.

State Street (NYSE: STT) expects second quarter earnings to beat analyst estimates.

On the downside

A jury ruled that Skilled Healthcare Group (NYSE: SKH) must pay $671 million in damages for failing to provide adequate staffing at its facilities.

Affymetrix (Nasdaq: AFFX) blamed delayed purchases, reduced corporate spending and a weak euro for lowering its second quarter outlook.

GlaxoSmithKline's (NYSE: GSK) and Xenoport's (Nasdaq: XNPT) migraine treatment failed a midstage clinical trial.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased gained 6 points to 596.


The markets closed modestly higher with the Dow gaining 57 points to 9743 as investors snapped up bargains. Nasdaq added 2 points to 2093.

On the upside

Bebe (Nasdaq: BEBE) announced a special one-time dividend of $1 per share payable on July 30 to shareholders of record July 21. The women's apparel retailer also said that it will shutter its PH8 and close all PH8 stores.

Basic Energy Services (NYSE: BAS) will release second quarter results after market close on Tuesday, July 27, 2010.

The Semiconductor Industry Association reported a 47.6% year over year gain in chip sales in May lifting shares of Intel (Nasdaq: INTC) and Micron Technology (Nasdaq: MU).

Spanish grocery store chain DinoSol selected Oracle Retail (Nasdaq: ORCL) planning applications to improve performance and profitability.

On the downside

Tesla Motor (Nasdaq: TSLA) stock tumbled below its offering price as investors locked in profits on the electric vehicle company.

Seagate Technology (Nasdaq: STX) entered a Supplemental Indenture to issue and guarantee 6.875% Senior Notes due 2020.

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 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks eased dropped 8 points to 590.

The markets retreated from early morning highs as service sector growth slowed in June but continued to trade in positive territory during the midday with the Dow rising 73 points to 9760. Nasdaq gained 13 points to 2105.

On the upside

Power-One (Nasdaq: PWER) will redeem all outstanding 8% Senior Secured Convertible Notes due 2013.

BP (NYSE: BP) reassured investors that it will not issue new shares, allaying dilution concerns.

Mechel OAO (NYSE: MTL) will begin receiving regular coal shipments from the US due to a shortage of coking coal in Russa.

On the downside

Piper Jaffray analyst Auguste Richard downgraded Applied Materials (Nasdaq: AMAT) and cut his price target on the company citing the company's troubled solar unit.

Telefonica selected Verizon (NYSE: VZ) to provide wireless service in the US for its multinational corporate clients but shares of Verizon fell.

Goldman Sachs analyst Patrick Archambault lowered his price target for Ford (NYSE: F) and cut his sales outlook citing easing demand.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 598.

Bargain hunters lifted the markets to a sharply higher open with the Dow climbing 150 points to 9837 after the holiday weekend. Nasdaq soared 41 points to 2133.

On the upside

Patterson-UTI Energy (Nasdaq: PTEN) will pay approximately $237.7 million in cash to acquire the pressure pumping and wireline businesses of Key Energy Services (NYSE: KEG).

Broadwind Energy's (Nasdaq: BWEN) subsidiary Tower Tech was selected by Gamesa Technology to supply structural wind towers for wind projects around the country.

JA Solar (Nasdaq: JASO) signed a multi-year contract to provide MEMC Electronic Materials (NYSE: WFR) with high performance solar modules.

On the downside

SonicWALL (Nasdaq: SNWL) announced that an unnamed third party that made an unsolicited bid for the company has withdrawn its offer.

JP Morgan analyst Christopher Danely downgraded RF Micro Devices (Nasdaq: RFMD) saying that handset demand is weakening.

Concerns that the Chinese economy will slow weighed down shares of online Chinese travel services firm Ctrip.com (Nasdaq: CTRP).

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 13 points to 612.

U. S. Markets Closed

|
U. S. markets are closed in observance of Independence Day.

Despite a dip in the nation's unemployment rate, the markets closed lower with the Dow falling 46 points to 9686 as private employers added fewer than expected jobs to their payrolls. Nasdaq lost 9 points to 2091.

On the upside

In a late stage clinical trial, Genentech's (NYSE: DNA) ovarian cancer treatment Avastin extended patient survival rate.

Analysts speculated that Sanofi-Aventis may be interested in acquiring Biogen (Nasdaq: BIIB).

Juniper Networks' (NYSE: JNPR) recently acquired Ankeena Networks was selected as a Red Herring Top 100 company.

On the downside

Helix Energy (NYSE: HLX) is finalizing reserve estimates for possible divestiture of its oil and gas business.

Delta (NYSE: DAL) expanded service to Africa in response to a strong demand but the stock price fell.

Wilshire Bancorp (Nasdaq: WIBC) blamed loan losses for warning of losses for the second quarter.

In the broad market, declining issues outpaced advancers 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 dropped 5 points to 598.

Private employers added fewer than expected employees to their payrolls to weigh down the markets during the midday with the Dow tumbling 94 points to 9637. Nasdaq dropped 16 points to 2084.

On the upside

In a late stage clinical trial, Genentech's (NYSE: DNA) ovarian cancer treatment Avastin extended patient survival rate.

Analysts speculated that Sanofi-Aventis may be interested in acquiring Biogen (Nasdaq: BIIB).

Juniper Networks' (NYSE: JNPR) recently acquired Ankeena Networks was selected as a Red Herring Top 100 company.

On the downside

Helix Energy (NYSE: HLX) is finalizing reserve estimates for possible divestiture of its oil and gas business.

Delta (NYSE: DAL) expanded service to Africa in response to a strong demand but the stock price fell.

Wilshire Bancorp (Nasdaq: WIBC) blamed loan losses for warning of losses for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 597.

The markets opened modestly higher with the Dow rising 9 points to 9741 as the nation's unemployment rate slipped. Nasdaq added 3 points to 2104.

On the upside

In a late stage clinical trial, Genentech's (NYSE: DNA) ovarian cancer treatment Avastin extended patient survival rate.

Analysts speculated that Sanofi-Aventis may be interested in acquiring Biogen (Nasdaq: BIIB).

Juniper Networks' (NYSE: JNPR) recently acquired Ankeena Networks was selected as a Red Herring Top 100 company.

On the downside

Helix Energy (NYSE: HLX) is finalizing reserve estimates for possible divestiture of its oil and gas business.

Delta (NYSE: DAL) expanded service to Africa in response to a strong demand but the stock price fell.

Wilshire Bancorp (Nasdaq: WIBC) blamed loan losses for warning of losses for the second quarter.

In the broad market, declining issues outpaced advancers 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 slipped 2 points to 602.

A drop in manufacturing activity sent the markets down to a lower close with the Dow falling 41 points to 9732. Nasdaq lost 7 points to 2101.

On the upside

Jefferies analyst Andrew Fein initiated coverage of Avanir Pharmaceuticals (Nasdaq: AVNR) with a Buy rating saying that the Food and Drug Administration should approve the company's Pseudobulbar Affect treatment Zenvia.

Shares of AutoNavi (Nasdaq: AMAP) climbed on its first trading day.

Frontier Communications (NYSE: FTR) paid $5.3 billion to acquire phone lines from Verizon in 14 states.

On the downside

LHC Group (Nasdaq: LHCG) entered a home health joint venture with The Health Care Authority for Baptist Health.

Popular (Nasdaq: BPOP) announced intentions to sell a 51% share of its subsidiary Evertec to Apollo Management.

Level 3 Communications (Nasdaq: LVLT) will be the exclusive provider in the U. S. of online and mobile content for the 2010 Tour de France.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 604.

First time applications for unemployment benefits unexpectedly rose last week to weigh down the markets with the Dow tumbling 100 points to 9673. Nasdaq fell 23 points to 2086.

On the upside

Eisai will have exclusive distribution rights to Arena Pharmaceuticals' (Nasdaq: ARNA) weight loss drug.

Green Equity Investors purchased a 9.5% stake in BJ's Wholesale Club (NYSE: BJ), approximately 5.1 million shares.

Christopher & Banks (NYSE: CBK) reported higher first quarter earnings that topped analyst estimates.

On the downside

The Securities and Exchange Commission announced an investigation into the Medicare billing practices of Amedisys (Nasdaq: AMED) and Gentiva Health Services (Nasdaq: GTIV).

Medicare's Coverage and Analysis Group expects to spend an entire year reviewing Dendreon's (Nasdaq: DNDN) prostate cancer treatment Provenge.

General Electric (NYSE: GE) invested $500 million to become a majority owner of 11 wind energy farms in Idaho.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 599.

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