August 2010 Archives

The markets retreated to close flat after the release of Federal Reserve meeting minutes revealed that officials admitted that the economy was weaker than they had expected. The Dow added 4 points to 10,044 while Nasdaq slipped 5 points to 2114.

On the upside

HSBC analyst Yolanda Wang expects Spreadtrum (Nasdaq: SPRD) to pick up Infineon (NYSE: IFX) 2G clients after Intel (Nasdaq: INTC) acquires Infineon's wireless unit.

Rex Energy (Nasdaq: REXX) announced a joint venture agreement to sell part of its interest in the Marcellus Shale to Sumitomo while maintaining operations at the site.

Ousted former Hewlett-Packard chief executive Mark Hurd will leave the boad of directors of News Corp. (NYSE: NWSA) at the end of his term.

On the downside

Origin Agritech (Nasdaq: SEED) reported higher fourth quarter earnings but revenue dropped.

Motley Fool Global Gains recommended China Green Agriculture (NYSE: CGA) and said that company growth is sustainable but the stock price fell.

Bernstein Research analyst Pierre Ferragu lowered his price target for Research In Motion (NYSE: RIMM) and cut his earnings estimate for fiscal 2011 and 2012.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 602.

The markets traded higher during the midday with the Dow gaining 34 points to 10,044 as consumer confidence climbed more than expected last month. Nasdaq edged up a point to 2122.

On the upside

Billionaire investor Carl Icahn increased his offer to purchase Lions Gate Entertainment (NYSE: LGF) by $1 per share to $7.50 per share.

Motley Fool CAPS investment community upgraded Hecla Mining (NYSE: HL) to a four star stock.

Ferro (NYSE: FOE) purchased all of its 6.50% convertible notes that expired August 30 at midnight.

On the downside

Winn-Dixie (Nasdaq: WINN) reported higher fourth quarter earnings due to a longer quarter but same store sales fell and the grocery store chain forecast full year results that fell short of expectations.

Isle of Capri Casinos (Nasdaq: ISLE) disappointed by swinging to an unexpected loss for the first quarter as revenue slipped while expenses rose.

The Canadian government selected Textron (NYSE: TXT) to submit a bid to supply Tactical Armored Patrol Vehicles to the Canadian military but the stock price fell.

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 604.

A strong gain in consumer confidence lifted that markets to a higher open with the Dow rising 26 points to 10,036. Nasdaq added 3 points to 2123.

On the upside

An article in the Daily Mail said that a consortium of private equity firms from the United States and the United Kingdom was prepared to offer $1.7 billion for Saks (NYSE: SKS).

Rising gold prices lifted shares of Goldcorp (NYSE: GG).

Energy Conversion Devices (Nasdaq: ENER) reported a narrower than expected loss for the fourth quarter as revenue surged.

On the downside

Mediacom Communications Corp. (Nasdaq: MCCC) founder, chairman and chief executive Rocco B. Commiso withdrew his offer to purchase the company.

Monsanto (NYSE: MON) announced that it will eliminate an additional 700 positions and warned that full year earnings will be at the low end of its previous guidance.

L-1 Identity Solutions (NYSE: ID) amended its credit agreement to extend the time period during which modified financial covenants will apply.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 601.

Personal incomes inched up by a smaller than expected 0.2% last month to send the markets tumbling to a lower close with the Dow plunging 140 points to 10,009. Nasdaq plummeted 33 points to 2119.

On the upside

Ceragon Networks (Nasdaq: CRNT) announced that a leading Indian operator ordered its advanced FibeAir(R) platform.

The European Commmission's Seventh Framework Program selected Pluristem Therapeutics' (Nasdaq: PSTI) PLX cell therapy, which uses stem cells from human placenta rather than controversial embryonic stem cells, to discover a treatment for diastolic heart failure.

Genzyme (Nasdaq: GENZ) rejected Sanofi-Aventis' $18.5 billion acquisition offer as too low.

On the downside

Fortress Investment Group (NYSE: FIG) chief executive Daniel Mudd, chief financial officer Daniel Bass, general counsel David Brooks and chief accounting officer Jonathan Brown all sold company stock last week.

Ku6 Media (Nasdaq: KUTV) disappointed by widening second quarter losses.

Standard & Poor's analyst Clyde Montevirgen downgraded Nvidia (Nasdaq: NVDA) saying that demand for consumer PCs has continued to weaken.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 601.

A disappointingly small gain in July personal income weighed the markets down during the midday with the Dow falling 58 points to 10,091. Nasdaq dropped 13 points to 2139.

On the upside

Healthcare technology solutions company ADAM (Nasdaq: ADAM) will be acquired by insurance industry e-commerce solutions provider Ebix (Nasdaq: EBIX) for approximately $66 million in stock.

Phoenix Technologies (Nasdaq: PTEC) received an unsolicited $150 billion bid to purchase the company.

BMO Capital Markets upgraded Noble Energy (NYSE: NBL) to an Outperfrom rating.

On the downside

Intel (Nasdaq: INTC) will pay approximately $1.4 billion to acquire Infineon's wireless chip business.

Credit Suisse cut its earnings estimates on Advanced Micro Devices (NYSE: AMD) and Micron Technology (NYSE: MU).

Susquehanna Financial Group cited a downturn in the semiconductor sector for downgrading Texas Instruments (NYSE: TXN).

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 5 points to 610.

Consumer spending posted a strong 0.4% increase in July but personal income rose by a less than expected 0.2%. The markets opened lower with the Dow losing 50 points to 10,100 while Nasdaq fell 11 points to 2142.

On the upside

3M (NYSE: MMM) will pay approximately $943 million to acquire automated fingerprint identification systems company Cogent (Nasdaq: COGT).

Hewlett-Packard (NYSE: HPQ) announced a plan to buy back up to $10 billion worth of common shares.

The Justice Department granted antitrust approval to United Airlines parent UAL's (Nasdaq: UAUA) acquisition of Continental Airlines (NYSE: CAL) after Continental gave 18 of its roundtrip slots at Newark Liberty to Southwest.

On the downside

DG Fast Channel (Nasdaq: DGIT) forecast third quarter as well as full year results below analyst expectations.

A Superior Court denied Skilled Healthcare Group's (NYSE: SKH) motion for a mistrial in a lawsuit that alleged Skilled Healthcare violated safety codes with inadequate staffing.

Jefferies & Co. downgraded Lululemon Athletica (Nasdaq: LULU) to an Underperform rating.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 613.

Federal Reserve chairman Ben Bernanke reassured investors that the Fed will take necessary actions to jumpstart the stalled economic recovery.  The markets closed sharply higher with the Dow leaping 164 points to 10,150 while Nasdaq surged 34 points to 2153.

On the upside

Dollar Financial (Nasdaq: DLLR) narrowed fourth quarter losses more than expected as revenue climbed.

WPCS International (Nasdaq: WPCS) affirmed that it received a buyout offer from Riley Group.

Healthspring (NYSE: HS) will purchase Bravo Health, a Medicare plans operator, for approximately $545 million.

On the downside

International Rectifier (NYSE: IRF) reported fourth quarter earnings that slipped as expenses rose.

Net 1 UEPS Technologies (Nasdaq: UEPS) disappointed by swinging to a loss for the fourth quarter.

Shares of SanDisk (Nasdaq: SNDK) tumbled after Bank of America/Merrill Lynch analyst Simon Dong-ye Woo said that prices for TLC NAND memory chips have dropped 20% this quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 17 points to 616.

Markets Soar As Economy Expands

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Investors greeted news that the economy expanded, although at a slower pace, by boosting the markets higher during the midday with the Dow surging 125 points to 10,111. Nasdaq climbed 24 points to 2142.

On the upside

Two analyst upgraded SunPower (Nasdaq: SPWRA) citing strong revenue growth.

The bidding war between Hewlett-Packard (NYSE: HPQ) and Dell (Nasdaq: DELL) for 3Par (NYSE: PAR)lifted shares of rival data storage firm Compellent Technologies (NYSE: CML).

Micros Systems (Nasdaq: MCRS) reported higher fourth quarter earnings that beat analyst expectations as revenue climbed.

On the downside

Shares of A-Power Energy (Nasdaq: APWR) continued falling after reporting second quarter earnings that fell far short of analyst expectations yesterday.

Frontline (NYSE: FRO) warned that third quarter results will drop sequentially and said that an increasing supply of oil tankers will negatively impact earnings.

Shares of Guess (NYSE: GES) continued falling after lowering its full year guidance Wednesday after market close.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 607.

The nation's economic growth slowed in the second quarter to a pace of 1.6% but the markets opened higher with the Dow rising 21 points to 10,007 as investors welcomed even a modest expansion of the troubled economy. Nasdaq added 3 points to 2122.

On the upside

Hewlett-Packard (NYSE: HPQ) increased its offer for 3Par (NYSE: PAR) to $1.88 billion after Dell (Nasdaq: DELL) raised its offer to match HP's previous bid of $1.69 billion.

Second quarter earnings for Netezza (NYSE: NZ) surged four-fold to surpass analyst expectations as revenue climbed and the data storage company lifted its full year revenue growth.

Aruba Networks (Nasdaq: ARUN) swung to a better than expected profit for the fourth quarter as the company increased customers.

On the downside

The Food and Drug Administration denied accelerated approval for Immunogen's (Nasdaq: IMGN) breast cancer treatment T-DM1.

Although J. Crew (NYSE: JCG) reported sharply higher second quarter earnings that beat expecations, the specialty retailer lowered its full year guidance.

Second quarter earnings for Tiffany & Co. (NYSE: TIF) rose but revenue fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 597.


Economic Worries Sink Stocks

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Despite a drop in first time jobless claims, the markets closed lower with the Dow dropping 74 points to 9985 over persistent concerns about the economy. Nasdaq tumbled 22 points to 2118.

On the upside

The Wall Street Journal reported that ArcSight (Nasdaq: ARST) was selling itself.

A drop in first time applications for unemployment benefits lifted shares of online employment solutions firm Monster Worldwide (NYSE: MWW).

Signet Jewelers (NYSE: SIG) reported higher second quarter earnings that beat analyst estimates.

On the downside

Shares of Hovnanian Enterprises (NYSE: HOV) dropped over record low new home sales.

Cisco Systems (Nasdaq: CSCO) will acquire ExtendMedia.

JDS Uniphase (Nasdaq: JDSU) swung to a fourth quarter profit but revenue fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 599.

The markets drifted into negative territory during the midday with the Dow losing 21 points to 10,038 amidst concerns of a double dip recession. Nasdaq slipped 6 points to 2135.

On the upside

RI.ME. Masterbatch will supply the European market with Cereplast's (Nasdaq: CERP) bioplast resins.

Jo-Ann Stores (NYSE: JAS) reversed year ago losses to post a better than expected profit for the second quarter and lifted its full year outlook.

Teradata (Nasdaq: TDC) may consider rehiring former Hewlett-Packard chief executive Mark Hurd, who had worked for Teradata's data warehousing unit.

On the downside

While second quarter earnings for Rue21 (Nasdaq: RUE) rose, the specialty apparel retailer forecast current quarter and full year results that fell short of expectations.

A-Power Energy Generation System (Nasdaq: APWR) blamed project delays for second quarter earnings that missed estimates by a wide margin.

Second quarter earnings for Sigma Designs (Nasdaq: SIGM) tumbled due to an investment write-off.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE while deliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 605.

A drop in jobless claims lifted the markets to a higher open with the Dow rising 10 points to 10,070. Nasdaq added 4 points to 2145.

On the upside

A federal judge denied Sanofi-Aventis' request to suspend and withdraw approval for the generic version of Sanofi-Aventis' blood thinner Lovenox marketed by Sandoz and Momenta (Nasdaq: MNTA).

Huntsman (NYSE: HUN) was listed as the fourth highest-yielding dividend chemical stock by Motley Fool.

Shares of Somaxon (Nasdaq: SOMX) continued climbing after announcing a co-promotion agreement with Procter & Gamble (NYSE: PG) yesterday to market the company's insomnia drug Silenor.

On the downside

Superconductor Technologies (NYSE: SCON) priced its offering of 4 million common shares at $1.50 per share.

Guess (NYSE: GES) reported higher second quarter earnings but the apparel company lowered its full year outlook.

GigaMedia (Nasdaq: GIGM) disappointed with an unexpected loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 610.

The markets recovered in late afternoon trading to close modestly higher with the Dow rising 19 points to 10,060. Nasdaq gained 17 points to 2141.

On the upside

An article in Seeking Alpha recommended Applied Material (Nasdaq: AMAT).

Bloomberg reported that Apple (Nasdaq: AAPL) is negotiating with News Corp. (Nasdaq: NWSA) to offer television shows on iTunes for 99 cents per rental.

Pfizer (NYSE: PFE) and Bristol-Myers Squibb (NSYE: BMY) will present results from a late stage clinical trial of its blood thinner apixaban at the European Society of Cardiology Congress 2010.

On the downside

Dycom Industries (NYSE: DY) disappointed with lower fourth quarter earnings that fell short of expectations as expenses climbed.

EnergySolutions (NYSE: ES) declared a quarterly dividend of $0.025 per share payable on September 10 to shareholders of record September 3.

JMP Securities downgraded Annaly Capital (NYSE: NLY).

In the broad market, advancing issues outpaced decliners 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 climbed 9 points to 604.

Record low new home sales weighed down the markets during the midday with the Dow losing 46 points to 9994. Nasdaq slipped 5 points to 2118.

On the upside

Shares of GigaMedia (Nasdaq: GIGM) climbed ahead of its earnings release tomorrow before market open.

VeriFone Systems (NYSE: PAY) reported higher third quarter earnings that beat analyst expectations as revenue climbed.

Oppenheimer analyst Yair Reiner upgraded Corning (NYSE: GLW) to an Outperform rating.

On the downside

Brown Shoe Co. (NYSE: BWS) reversed year ago losse to post a profit for the second quarter but the company trimmed its sales growth for the full year.

Mosaic (NYSE: MOS) president and chief executive James Prokopanko received a 40% compensation increase during the fiscal year ended May 31.

A March 14, 2011 court date has been set for a lawsuit against Massey Energy (NYSE: MEE) alleging that a company silo next to Marsh Fork Elementary exposed hundreds of children to toxic coal dust.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 595.

The markets opened lower with the Dow falling 50 points to 9989 as new home sales dropped to a record low. Nasdaq lost 10 points to 2113.

On the upside

Somaxon Pharmaceuticals (Nasdaq: SOMX) announced a co-promotion agreement with Procter & Gamble (NYSE: PG) for its insomnia treatment Silenor.

Second quarter earnings fell for American Eagle Outfitters (NYSE: AEO) due to price cuts but revenue rose.

Coldwater Creek (Nasdaq: CWTR) reversed year ago losses to post a better than expected profit for the second quarter as revenue rose.

On the downside

SkyPeople Fruit Juice (Nasdaq: SPU) priced its public offering of more than 5 million common shares at $5.00 per share.

Shares of Allied Irish Bank (NYSE: AIB) fell after Standard & Poor's downgraded Ireland's sovereign debt.

The mechanics union at American Airlines (NYSE: AMR) rejected a labor contract as inadequate.

In the broad market, declining issues outpaced advancers 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 slipped 2 points to 593.

An unexpectedly sharp drop in existing home sales sent the market tumbling to a lower close with the Dow plummeting 133 points to 10,040. Nasdaq plunged 35 points to 2123.

On the upside

Motley Fool listed RF Micro Devices (Nasdaq: RFMD) as having the second highest return on ending equity among semiconductors.

iStar Financial (NYSE: SFI) entered negotiations to restructure loans to extend the terms by three years.

Acacia Research (Nasdaq: ACTG) entered a strategic patent licensing agreement with Renesas Electronics.

On the downside

Comcast (Nasdaq: CMCSA) unveiled new DVR services including online programming and AnyRoom DVR available to customers in Massachusetts and Southern New Hampshire but the stock price fell.

Eight Republican senators questioned China's Huawei Technologies' supply agreement with Sprint (NYSE: S) citing national security concerns.

Ford (NYSE: F) partnered with Portland General Electric to provide charging stations along with consumer education and support for electric vehicles in the Portland and Pacific Northwest region but Ford's stock price fell.

In the broad market, declining issues outpaced advancers 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 dropped 7 points to 595.

Existing home sales plunged more than expected to weigh down the markets during the midday with the Dow tumbling 102 points to 10,072. Nasdaq dropped 26 points to 2132.

On the upside

Second quarter earnings for Trina Solar (NYSE: TSL) doubled as revenue surged prompting the photovoltaic module maker to lift its full year shipment forecast.

Indications that the government may lift part of the Gulf of Mexico drilling ban boosted shares of Transocean (NYSE: RIG).

Daktronics (Nasdaq: DAKT) reported higher first quarter earnings that nearly doubled to top analyst estimates as the company cut expenses.

On the downside

Buildings materials company CRH (NYSE: CRH) blamed the weak housing market in the United States for warning of an earnings shortfall.

Barnes & Noble (NYSE: BKS) disappointed with a loss for the first quarter due to expenses stemming from a proxy fight with billionaire shareholder Ron Burkle. The bookseller also cut its full year guidance.

While third quarter earnings rose for Bank of Montreal (NYSE: BMO), the results fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 598.

A sharp drop in existing home sales to a 15-year low sent the markets tumbling to a lower open with the Dow plummeting 121 points to 10,053. Nasdaq plunged 32 points to 2126.

On the upside

PricewaterhouseCoopers will pay approximately $378 million in cash to acquire Diamond Managment & Technology Consultants (Nasdaq: DTPI).

Bloomberg reported that Dell (Nasdaq: DELL) will raise its offer for 3Par (NYSE: PAR).

Apollo Group (Nasdaq: APOL) issued a 37-page paper saying that the for-profit educator costs less than public schools.

On the downside

First quarter earnings for Medtronic (NYSE: MDT) surged but revenue fell and the company lowered its full year outlook.

Inclement weather in Columbia hurt coffee crops and sent coffee prices soaring. Shares of Starbucks (NYSE: SBUX) fell.

Concerns that base metal prices may fall weighed down shares of Freeport-McMoRan Copper & Gold (NYSE: FCX).

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 12 points to 590.

Merger and acquistion activity fueled fears of further job cuts to weigh the markets down to a lower close with the Dow losing 39 points to 10,174. Nasdaq tumbled 20 points to 2159.

On the upside

Blackstone Group (NYSE: BX) announced that it will back a develoment plan to build upscale apartments in north eastern China.

Motley Fool cited strength in the semiconductor sector, a low stock price and positive earnings momentum for recommending Micron Technology (Nasdaq: MU).

Pfizer's (NYSE: PFE) vaccine for pneumonia in infants and children, Prevenar 13, was granted prequalification status by the World Health Oranization.

On the downside

Brean Murray downgraded Universal Travel Group (NYSE: UTA).

Cenveo (NYSE: CVO) withdrew its offer to acquire bankrupt rival National Envelope.

TheStreet.com suggested that institutional investors may sell some of their holdings in Ford (NYSE: F) in order to diversify by acquiring shares of General Motors when the automaker IPOs.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 602.

Renewed concerns about the stalled economic recovery weighed the markets down during the midday with the Dow slipping 5 points to 10,208. Nasdaq lost 10 points to 2169.

On the upside

Shares of SinoCoking Coal (Nasdaq: SCOK) rose ahead of its corporate update conference call tomorrow.

Warner Chilcott (Nasdaq: WCRX) announced a special dividend of $8.50 per share payable on September 8 to shareholders of record August 30.

Shares of data storage companies CommVault (Nasdaq: CVLT) and Compellent (NYSE: CML) rose on Hewlett-Packard's (NSYE: HPQ) $1.5 billion offer for 3Par (NYSE: PAR).

On the downside

OfficeMax (NYSE: OMX) eliminated the OfficeMax Company Stock Fund from its employee benefit plans.

Reuters reported that Vale (NYSE: VALE) will not make an offer for Potash (NYSE: POT).

Japanese buyers in negotiations with aluminum supplier Alcoa (NYSE: AA) expect to cut premiums fourth quarter shipments.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 609.

Merger and acquisition activity lifted the markets to a modestly higher open with the Dow rising 40 points to 10,253. Nasdaq added 2 points to 2182.

On the upside

A bidding war for 3Par (NYSE: PAR) began as Hewlett-Packard (NYSE: HPQ) topped Dell's (Nasdaq: DELL) $1.13 billion offer with a bid of $1.5 billion for the data storage provider.

Two experimental treatments from AVI BioPharma (Nasdaq: AVII) protected monkeys against the Ebola and Marburg viruses.

Shipment of Apple's (Nasdaq: AAPL) Mac surged 35% in June.

On the downside

Shares of Jazz Pharmaceuticals (Nasdaq: JAZZ) continued falling after a Food and Drug Administration Advisory panel rejected the company's fibromyalgia treatment JZP-6 on Friday.

The Food and Drug Administration issued a refusal to file letter to EpiCept (Nasdaq: EPCT) for its acute myeloid leukemia treatment Ceplene's New Drug Application.

Deutsche Bank analyst Alan Hellawell downgraded Baidu (Nasdaq: BIDU).

In the broad market, advancing issues outpaced declinrs 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 rose 4 points to 615.


Investors concerned about a stalled global economic recovery sent the markets down to a lower close with the Dow falling 57 points to 10,213. Nasdaq edged up a fraction to 2179.

On the upside

Mentor Graphics (Nasdaq: MENT) narrowed second quarter losses more than expected as revenue rose.

Mueller Water Products (NYSE: MWA) priced its offering of $225 million worth of senior notes.

Rumors that Akamai (Nasdaq: AKAM) may be the target of an acquisition lifted shares of the company for a second day.

On the downside

Second quarter earnings for Hibbett Sports (Nasdaq: HIBB) surged and the company lifted its full year outlook but the results fell short of expectations.

Sigmapharm applied for regulatory approval to produce a generic version of Gilead's (Nasdaq: GILD) hepatitis B treatment Hepsera.

GE Capital (NYSE: GE) will provide Blount International (NYSE: BLT) with a $425 million cash flow credit facility.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 610.

Global economic recovery concerns sank stocks during the midday with the Dow dropping 89 points to 10,181. Nasdaq lost 9 points to 2169.

On the upside

Chelsea Therapeutics (Nasdaq: CHTP) initiated a phase II clinical study of its chronic fatigue syndrome treatment Droxidopa.

Tyco International (NYSE: TYC) will replace Smith International (NYSE: SII),which is being acquired, on the S&P 500 index after markets close on August 26.

Matrixx Initiatives (Nasdaq: MTXX) will settle federal lawsuits over the company's cold medication Zicam.

On the downside

Shares of BSD Medical (Nasdaq: BSDM) continued falling after announcing a registered direct offering of common shares and warrants.

SanDisk (Nasdaq: SNDK) priced its offering of convertible senior notes.

Morgan Stanley analyst Ehud Gelblum downgraded Research In Motion (Nasdaq: RIMM) saying that the BlackBerry maker will lose market share.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 604.

A drop in international markets weighed domestic markets down to a lower open with the Dow tumbling 83 points to 10,187. Nasdaq fell 8 points to 2170.

On the upside

Marvell Technology Group (Nasdaq: MRVL) reported higher second quarter earnings and announced a stock $500 million stock repurchase plan.

Intuit (Nasdaq: INTU) narrowed fourth quarter losses more than expected as revenue rose to top analyst expectations.

Second quarter earnings slipped for Salesforce.com (NYSE: CRM) but results beat expectations while revenue climbed and the company lifted its full year guidance.

On the downside

Fourth quarter earnings for Corinthian Colleges (NYSE: COCO) rose but the results fell short of expectations and the for-profit educator forecast first quarter profit below estimates.

Kirkland (Nasdaq: KIRK) disappointed with lower second quarter earnings.

Canadian Solar (Nasdaq: CSIQ) swung to a first quarter profit but revised downward its fourth quarter results.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 606.

An unexpected increase in first time jobless claims sent the markets tumbling to a sharply lower close with the Dow plunging 144 points to 10,271. Nasdaq plummeted 36 points to 2178.

On the upside

Children's Place (Nasdaq: PLCE) widened second quarter losses but the retailer lifted its full year outlook and announced a $100 million share repurchase plan.

Second quarter earnings for HiSoft Technology International (Nasdaq: HSFT) more than doubled as revenue soared.

Gammon Gold (NYSE: GRS) adopted a shareholder rights plan effective August 19, 2010.

On the downside

SWS Group (NYSE: SWS) announced the resignation of chief executive Donald W. Hultgren and named James H. Ross as interim chief executive.

Lesley Goldwasser resigned from Flagstar Bancorp's (NYSE: FBC) Board of Directors and from her position as Lead Independent Director of the Board.

1-800-Flowers.com (Nasdaq: FLWS) narrowed fourth quarter losses but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 17 points to 610.

The markets extended its losses during the midday with the Dow plummeting 172 points to 10,243 as initial applications for unemployment benefits climbed to its highest level in nine months. Nasdaq plunged 40 points to 2175.

On the upside

PetSmart (Nasdaq: PETM) reported higher second quarter earnings that topped analyst estimates as revenue rose.

Second quarter earnings rose for NetEase.com (Nasdaq: NTES) as revenue climbed.

Open Text (Nasdaq: OTEX) reported sharply higher fourth quarter earnings that beat analyst expectations as revenue increased.

On the downside

Second quarter earnings rose for Staples (Nasdaq: SPLS) but revenue fell short of estimates.

Fitch Ratings warned that Wells Fargo (NYSE: WFC) will continue to write down significant loan losses.

Standpoint Research downgraded Motorola (NYSE: MOT).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 16 points to 611.

A surge in jobless claims sent the markets down to a lower open with the Dow tumbling 107 points to 10,307. Nasdaq climbed 21 points to 2193.

On the upside

Intel (NYSE: INTC) will pay approximately $7.68 billion to acquire computer security technology company McAfee (NYSE: MFE).

Symantec (Nasdaq: SYMC) successfully completed compatibility testing between its cloud-based medical imaging archiving solution Symantec Health and Siemens Healthcare's picture archiving and communication system.

NewAlliance Bancshares (NYSE: NAL) will merge with First Niagara Financial Group (Nasdaq: FNFG) in a cash and stock transaction valued at approximately $1.5 billion.

On the downside

Brocade Communications Systems (Nasdaq: BRCD) swung to a third quarter profit but revenue fell short of estimates and the company cut its full year revenue outlook.

Second quarter earnings rose for GameStop (NYSE: GME) but the results missed expectations and the video game retailer forecast third quarter earnings below estimates.

BSD Medical (Nasdaq: BSDM) announced a registered direct offering of more than 1.2 million common shares and warrants for nearly 1 million shares.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 617.

Upbeat retailer earnings reports lifted the markets to a modestly higher close with the Dow adding 9 points to 10,415. Nasdaq rose 6 points to 2215.

On the upside

ValueVision Media (Nasdaq: VVTV) narrowed second quarter losses as revenue rose.

Citigroup analyst Josh Levin suggested that homebuilders are likely to consolidate, lifting shares of Beazer Homes (NYSE: BZH) and Ryland Group (NYSE: RYL).

China Digital (NYSE: STV) reported higher second quarter earnings that beat expectations as revenue soared.

Dillard's (Nasdaq: ENDP) announced plans to buy back as much as $250 million worth of common shares.

On the downside

Gilead Sciences (Nasdaq: GILD) spent $350,000 in the second quarter to lobby the federal government.

Fiduciary/Claymore MLP Opportunity Fund (NYSE: FMO) priced its offering of nearly 4.3 million shares at $19.36 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 630.

Falling crude oil prices lifted the markets modestly higher during the midday with the Dow rising 48 points to 10,454. Nasdaq gained 17 points to 2226.

On the upside

Cardica (Nasdaq: CRDC) narrowed fourth quarter losses expenses fell. The company also announced that Intuitive Surgical will pay $12 million for an exclusive licensing deal.

The Food and Drug Administration said that Jazz Pharmaceuticals' (Nasdaq: JAZZ) JZP-6 was effective in treating fibromyalgia patients but safety concerns were raised.

Jefferies & Co. analyst Corey Davis lifted his price target for Endo Pharmaceuticals (Nasdaq: ENDP) saying that the company should be able to prevent regulatory approval of generic versions of its Opana ER.

On the downside

Citi Trends (Nasdaq: CTRN) widened second quarter losses more than expected.

Eaton Vance (NYSE: EV) reported higher third quarter earnings but the results fell short of expectations.

Longbow Research analyst Alton Stump downgraded Safeway (NYSE: SWY) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 630.

The markets opened lower with the Dow losing 33 points to 10,372 with no economic data motivating investors to buy. Nasdaq edged up a fraction to 2209.

On the upside

Phoenix Technologies (Nasdaq: PTEC) will be acquired by Marlin Equity Partners for approximately $139 million.

The Food and Drug Administration granted BSD Medical (Nasdaq: BSDM) approval to market its MicroThermX Microwave Ablation System soft tissue ablation device.

Second quarter earnings for Chico's FAS (NYSE: CHS) more than doubled to top estimates as revenue rose.

On the downside

Longbow downgraded Safeway (NYSE: SWY).

PennantPark Investment (Nasdaq: PNNT) priced its public offering of 4 million common shares at $10.15 per share.

Morgan Keegan analyst Justin Patterson downgraded Netflix (Nasdaq: NFLX) to an Underperform rating citing concerns about streaming content costs.

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

Investors embraced increasing home construction and rising industrial output to lift the markets to a sharply higher close with the Dow soaring 103 points to 10,405. Nasdaq jumped 27 points to 2209.

On the upside

Agilent Technologies (NYSE: A) swung to a third quarter profit that surpassed analyst expectations as revenue soared.

Teck Resources (NYSE: TCK) announced that its notes offering has closed.

Cenveo (NYSE: CVO) chairman and chief executive Robert G. Burton Sr. purchased 45,000 shares of company stock.

On the downside

Shares of Chico's FAS (NYSE: CHS) fell ahead of its earnings release tomorrow.

Triple-S Management (NYSE: GTS) was not invited by the Puerto Rican government to participate in the negotiation process to win management responsibilities for the Reform (Medicaid) business.

Newell Rubbermaid (NYSE: NWL) commenced an exchange offer for its convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 11 points to 626.

An increase in new home construction sent the markets soaring during the midday with the Dow surging 168 points to 10,470. Nasdaq leaped 41 points to 2222.

On the upside

Paulson & Co. disclosed that it purchased 5 million shares of PMI Group (NYSE: PMI) .

A Seeking Alpha article expects RAIT Financial Trust's (NYSE: RAS) income stream to stabilize as income continues to grow.

Shares of China Agritech (Nasdaq: CAGC), Intrepid Potash (NYSE: IPI) and Mosiac (NYSE: MOS) all rose on speculation that BHP (NYSE: BHP) may seek other acquisition targets after Potash (NYSE: POT) rejected its $38 billion offer as too low.

On the downside

MannKind (Nasdaq: MNKD) announced a financing plan to raise $115 million by lending 8 million shares of its stock to Bank of America to sell.

VanceInfo Technolgies (NYSE: VIT) reported higher second quarter earnings but forecast third quarter income below estimates.

Wedbush analyst Scott Sutherland cited lukewarm reception to Research In Motion's (Nasdaq: RIMM) launch last week of its latest BlackBerry Torch for downgrading the smartphone maker.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 11 points to 626.

Rising industrial production lifted the markets to a higher open with the Dow gaining 37 points to 10,339. Nasdaq climbed 15 points to 2197.

On the upside

Potash (NYSE: POT) rejected BHP Billiton's (NYSE: BHP) $38.6 billion acquisition offer as inadequate.

Reynolds Group will pay approximately $6 billion in cash to acquire Pactiv (NYSE: PTV).

Medtronic (NYSE: MDT) offered approximately $123 million to acquire Osteotech (Nasdaq: OSTE).

On the downside

Abercrombie & Fitch (NYSE: ANF) swung to a second quarter profit that topped analyst estimates but also announced the closure of 60 stores.

Teekay Offshore (NYSE: TOO) priced its follow-on public offering of 5.25 million common units at $22.15 per unit.

Delcath Systems (Nasdaq: DCTH) announced an offering of approximately 5.19 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 622.


It was a flat close for the markets with the Dow easing a point to 10,302 over concerns that Japan's slowing economic growth will spread to other countries. Nasdaq rose 8 points to 2181.

On the upside

Hauppauge Digital (Nasdaq: HAUP) swung to a third quarter profit as revenue rose and expenses fell.

Wedbush upgraded Calgon Carbon (NYSE: CCC) to an Outperform rating on Friday.

BPZ Resources (NYSE: BPZ) received an Extended Well Testing permit through November 30, 2010 for the CX11-17D well in the Corvina field in Block Z-1.

On the downside

Shares of Great Atlantic & Pacific Tea (NYSE: GAP) continued to fall after announcing the closure of 25 stores on Friday.

Flextronics International (NYSE: FLEX) announced a plan on Friday to repurchase up to $200 million in stock.

Deutsche Bank analyst Robyn Karnauskas initiated coverage of Gilead Sciences (Nasdaq: GILD) with a Buy rating and a price target of $42.

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

The markets traded flat during the midday with the Dow slipping 5 points to 10,297 due to disappointing regional manufacturing data. Nasdaq gained 11 points to 2184.

On the upside

Flir Systems (Nasdaq: FLIR) will pay approximately $274 million in cash to acquire ICx Technologies (Nasdaq: ICXT).

Shares of Allis-Chalmers Energy (NYSE: ALY) continued climbing after announcing on Friday an acquisition offer by SeaDrill valued at approximately $890 million.

Private equity firm Leonard Green & Partners will acquire Prospect Medical Holdings (Nasdaq: PZZ) in a deal valued at approximately $205 million.

On the downside

Vitacost.com (Nasdaq: VITC) disappointed by swinging to a second quarter loss. The online health products retailer also announced the resignation of chief executive Ira Kerker.

Corning (NYSE: GLW) will acquire European plastic consumable labware maker Plaslab SAS for an undisclosed sum.

Sinovac Biotech (Nasdaq: SVA) disappointed with sharply lower second quarter earnings as revenue tumbled.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 616.


The markets opened flat with the Dow adding a point to 10,304 after Japan reported slowing economic growth that fell short of expectations. Nasdaq rose 11 points to 2185.

On the upside

Dell (Nasdaq: DELL) will pay approximately $1.15 billion in cash to acquire 3Par (NYSE: PAR).

ResCare (Nasdaq: RSCR) received an acquisition offer from private equity firm Onex for $12.60 per share.

The Ministry of Health in China announced that no evidence has been found linking Synutra International's (Nasdaq: SYUT) infant milk powder with premature development in infants.

Shares of Brazilian airliner TAM (NYSE: TAM) continued to soar after announcing a merger with Chilean airliner LAN (NYSE: LFL).

On the downside

The Department of Education reported that for-profit educators Corinthian Colleges (Nasdaq: COCO), ITT Educational Services (NYSE: ITT) and Strayer Education (Nasdaq: STRA) all had a student loan repayment rates below 35%. The schools may be ineligible for federal financial aid funds under proposed rules.

Threats by the United Arab Emirates and Saudi Arabia to block Research in Motion's BlackBerry (Nasdaq: RIMM) smartphone email and messaging services continued to weigh down shares of the Canadian company.

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 climbed 6 points to 615.

Disappointing retail sales figures weighed the markets down to a lower close with the Dow losing 16 points to 10,303. Nasdaq fell 16 points to 2173.

On the upside

Emergent BioSolutions (NYSE: EBS) will pay approximately $96.8 million in cash and stock to acquire Trubion Pharmaceuticals (Nasdaq: TRBN).

Flotek Industries (NYSE: FTK) narrowed second quarter losses as revenue climbed.

Chilean airline LAN (NYSE: LFL) announced a merger deal with Brazilian airline TAM (NYSE: TAM).

On the downside

Park Sterling Bank (Nasdaq: PSTB) tumbled on it first day of trading.

Shares of video game developer THQ (Nasdaq: THQI) fell after NPD Group reported a 1% drop in July video game sales from last year.

Telestone Technologies (NYSE: TSTC) disappointed with lower second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 609.


 

Retail sales rose modestly last month but the uptick was less than expected. The markets traded near the flatline during the midday with the Dow rising 6 points to 10,326 while Nasdaq lost 7 points to 2183.

On the upside

A district court granted Premier Exhibitions (Nasdaq: PRXI) 100% of the fair market value of all aritifacts salvaged from the Titanic, valued at approximately $100 million.

Bally Technologies (NYSE: BYI) reported sharply higher fourth quarter earnings.

Blackstone Group's (NYSE: BX) acquisition of Dynegy (NYSE: DYN) lifted shares of Calpine (NYSE: CPN), Mirant (NYSE: MIR) and RRI Energy (NYSE: RRI).

On the downside

Research in Motion (Nasdaq: RIMM) will provide the Indian government with access to encrypted data that officials view as security threats.

Concerns that obesity drugs do not lower the risk of heart attacks or strokes weighed down shares of Arena Pharmaceuticals (NYSE: ARNA), whose Iorcaserin is awaiting regulatory approval.

As part of The Great Atlantic & Pacific Tea Company's (NYSE: GAP) turnaround plan, the company will close 25 stores in five states.slim margin on the NYSE and by 5 to 6 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 613.

The markets opened mixed with the Dow adding 19 points to 10,339 while Nasdaq slipped 6 points to 2183 despite merger and acquisition activity as investors remain wary of the sluggish economy.

On the upside

IBM (NYSE: IBM) will pay approximately $480 million to acquire marketing services company Unica (Nasdaq: UNCA).

Dynegy (NYSE: DYN) agreed to be acquired by Blackstone Group for approximately $542.7 million.

In a deal valued at approximately $890 million, SeaDrill will purchase Allis-Chalmers (NYSE: ALY).

On the downside

Genetech informed PDL BioPharma (Nasdaq: PDLI) that some of its drugs do not infringe on PDL's patents in Europe. Genentech has been paying royalties to PDL.

Nordstrom (NYSE: JWN) reported higher second quarter earnings but investors were disappointed with the retailer's full year guidance.

National CineMedia (Nasdaq: NCMI) priced its public offering of 10.7 million common shares at $16.00 per share.

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

A surprise increase in first time jobless claims weighed the markets down to a lower close with the Dow falling 58 points to 10,319. Nasdaq dropped 18 points to 2190.

On the upside

India based online travel agency MakeMyTrip (Nasdaq: MMYT) made its debut on Nasdaq by soaring more than 88%.

Shares of RealPage (Nasdaq: RP) soared on its first trading day.

Las Vegas Sands (NYSE: LVS) and the Inter-Pacific Bar Association settled lawsuits filed against each other with a confidential agreement.

On the downside

Vermillion (Nasdaq: VRML) narrowed second quarter losses but the stock price plunged.

Second quarter losses narrowed for ICOP Digital (Nasdaq: ICOP) but shares of the video surveillance products company dropped.

China Nepstar Chain Drugstore (NYSE: NPD) swung to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 616.

Disappointing corporate earnings weighed down the markets during the midday with the Dow dropping 43 points to 10,335. Nasdaq lost 13 points to 2194.

On the upside

China Agritech (Nasdaq: CAGC) reported higher second quarter earnings that topped estimates as revenue soared.

GlobalOptions Group (Nasdaq: GLOI) will sell its Forensic DNA Solutions subsidiary to LSR Acquisition for approximately $30.5 million.

LDK Solar (NYSE: LDK) swung to a second quarter profit and forecast third quarter as well as full year results ahead of estimates.

On the downside

SmartHeat (Nasdaq: HEAT) reported higher second quarter earnings and revenue but margins fell.

Merriman Curhan Ford analyst Alex Kurtz downgraded NetApp (Nasdaq: NTAP).

Reuters reported that Vimpelcom (NYSE: VIP) entered discussions to acquire Italian mobile company Wind and the purchase a 51% stake in Egypt's Orascom Telecom.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 619.

Initial applications for unemployment benefits unexpectedly rose last week to send the markets down to a lower open with the Dow losing 55 points to 10,323. Nasdaq dropped 22 points to 2186.

On the upside

Brinker International (NYSE: EAT) reported higher fourth quarter earnings as revenue rose while expenses fell.

Auriga U.S.A. upgraded JA Solar (Nasdaq: JASO).

Cott (NYSE: COT) priced its public offering of 11.6 million common shares at $5.60 per share.

On the downside

Aegean Marine Petroleum (NYSE: ANW) blamed increased expenses for lower second quarter earnings that fell short of expectations.

Auriga U.S.A. downgraded JDS Uniphase (Nasdaq: JDSU).

Shares of Cisco (Nasdaq: CSCO) continued falling after reporting revenue that fell short of expectations and warning of a challenging economic environment.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 620.

A surge in the nation's trade deficit rattled investors to send the markets tumbling to a sharply lower close with the Dow skidding 265 points to 10,378. Nasdaq plummeting 68 points to 2208.

On the upside

Second quarter earnings for Macy's (NYSE: M) surged to surpass estimates prompting the department store operator to raise its full year outlook.

On the downside

Systemax (NYSE: SYX) reported higher second quarter earnings but the results fell far short of expectations.

Second quarter earnings dropped for URS (NYSE: URS) amidst a challenging economy.

Motorola (NYSE: MOT) began taking pre-sale orders for its Droid 2 smartphone but the stock price fell.

While fourth quarter earnings rose for Cisco (Nasdaq: CSCO), revenue missed expectations.

Apple (Nasdaq: AAPL) will replace first generation iPod nano units sold in Japan between September 2005 and December 2006 that overheat.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 620.

A drop in factory output in China sparked concerns of a stalled economic recovery to extend market losses during the midday with the Dow collapsing 240 points to 10,403. Nasdaq stumbling 68 points to 2208.

On the upside

The Department of Homeland Security awarded ICOP Digital (Nasdaq: ICOP) a contract for the company's ICOP Model 20/20-W in-car video systems.

Ameristar Casinos (Nasdaq: ASCA) retained the services of Lazard to explore the possible sale of the company.

China MediaExpress (NYSE: CCME) forecast second quarter earnings ahead of analyst expectations.

On the downside

Cardiome Pharma (Nasdaq: CRME) swung to a profit for the second quarter but the stock price fell.

Stifel Nicolaus downgraded Monolithic Power (Nasdaq: MPWR).

U.S. District Court Judge William Alsup ordered Wells Fargo (NYSE: WFC) to pay $203 million in restitution to California customers for deceptive overdraft fee practices.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 23 points to 622.

The nation's trade deficit widened more than expected to weigh down the markets to a lower open with the Dow plunging 195 points to 10,448. Nasdaq plummeted 53 points to 2223.

On the upside

SunPower (Nasdaq: SPWRA) reported better than expected second quarter earnings prompting upgrades.

Fourth quarter earnings and revenue for CareFusion (NYSE: CFN) topped estimates and the company announced restructuring plans that will cut 700 jobs while saving over $100 million per year.

Although Jazz Pharmaceuticals (NYSE: JAZZ) swung to a loss for the second quarter due to a debt extinguishment charge, revenue rose and the company lifted its full year guidance.

On the downside

Fourth quarter earnings for Cree (Nasdaq: CREE) surged but the company forecast current quarter revenue below expectations.

A123 Systems (Nasdaq: AONE) widened second quarter losses more than expected.

Alpha and Omega Semiconductor (Nasdaq: AOSL) reported sharply higher fourth quarter earnings but an analyst downgraded the company citing increasing operating expenses.

In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 631.

Fed To Buy Government Debt

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The markets trimmed its losses after the Federal Reserve announced that it would purchase government debt but still closed lower with the Dow losing 54 points to 10,644. Nasdaq tumbled 28 points to 2277.

On the upside

Netflix (Nasdaq: NFLX) announced a five year agreement to stream Lionsgate, MGM and Paramount movies for nearly $1 billion.

Universal Display (Nasdaq: PANL) narrowed second quarter losses as revenue surged.

Second quarter earnings rose for Gammon Gold (NYSE: GRS) as revenue climbed.

On the downside

Second quarter earnings for Himax Technologies (Nasdaq: HIMX) slipped.

Grand Canyon Education (Nasdaq: LOPE) reported higher second quarter earnings that topped estimates but the company forecast third quarter results that fell short of expectations.

Shares of Mueller Water Products (NYSE: MWA) continued to fall after RBC Capital Markets downgraded the company yesterday.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 13 points to 646.

Markets Extend Losses At Midday

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The markets extended its losses during the midday with the Dow plunging 111 points to 10,587 as investors await the Federal Reserve's statement. Nasdaq plummets 41 points to 2264.

On the upside

Gartner (NYSE: IT) reported higher second quarter earnings as revenue rose and the company lifted its full year guidance.

Hanesbands (NYSE: HBI) will pay approximately $55 million in cash to purchase GearCo.

QuinStreet (Nasdaq: QNST) reported a fourth quarter profit as revenue climbed.

On the downside

The Securities and Exchange Commission and the Department of Justice are investigating SciClone Pharmaceuticals (Nasdaq: SCLN) for activities in China that may have violated the Foreign Corrupt Practices Act.

Pegasystems (Nasdaq: PEGA) swung to a wider than expected loss for the second quarter.

Analysts said that computer sales are dropping to weigh down shares of Advanced Micro Devices (NYSE: AMD).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 645.

The markets opened lower with the Dow tumbling 104 points to 10,594 as worker productivity fell in the second quarter, the first drop since the fourth quarter of 2008. Nasdaq dropped 33 points to 2272.

On the upside

MBIA (NYSE: MBI) impressed with a profit for the second quarter.

ZST Digital Networks (Nasdaq: ZSTN) reported second quarter income that more than doubled as revenue surged.

Second quarter earnings for Fossil (Nasdaq: FOSL) more than tripled to beat expectations.

On the downside

The Securities and Exchange Commission issued a subpoena to CVB Financial (Nasdaq: CVBF) for information regarding the company's practices and procedures when dealing with troubled loans.

Nuance Communications (Nasdaq: NUAN) narrowed third quarter losses but revenue fell short of expectations.

Mindray Medical (NYSE: MR) reported higher second quarter earnings and revenue but sales in China dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 13 points to 646.

Optimism that the Federal Reserve will restart select economic stimulus programs lifted the markets to a higher close with the Dow rising 45 points to 10,698. Nasdaq gained 17 points to 2305.

On the upside

The National Geospatial-Intelligence Agency awarded a $3.8 billion contract to GeoEye (Nasdaq: GEOY) for satellite photos.

Ebix (Nasdaq: EBIX) reported record second quarter revenue and earnings.

Deutsche Bank analyst Nishu Sood upgraded Ryland Group (NYSE: RYL) to a Buy rating.

On the downside

Broadwind Energy (Nasdaq: BWEN) disappointed with a second quarter loss as revenue fell short of estimates prompting the wind turbine components maker to cut its full year guidance.

American Dairy (NYSE: ADY) reported a second quarter loss and warned that third quarter revenue will fall short of expectations.

While third quarter earnings for Tyson Foods (NYSE: TSN) climbed to top estimates, analysts expect chicken prices to drop next year.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 659.


The markets advanced during the midday with the Dow gaining 31 points to 10,684 as investors await the Federal Reserve's decision to restart economic stimulus programs to jumpstart the stalled economy. Nasdaq rose 10 points to 2298.

On the upside

A mistrial may be declared in a lawsuit that ordered Skilled Healthcare Group (NYSE: SKH) to pay $677 million in damages for mismanagement of nursing care facilities.

Analysts expect Cisco Systems (Nasdaq: CSCO) to report sharply higher fourth quarter earnings and revenue on Wednesday.

A Food and Drug Administration advisory panel will review Arena Pharmaceuticals' (NYSE: ARNA) obesity treatment Iorcaserin on September 16. A recommendation is expected.

On the downside

Shares of Synutra International (Nasdaq: SYUT) plunged ahead of its earnings release after market close.

Alpha Natural Resources (NYSE: ANR) did not comment on a newspaper report that it was exploring the option of acquiring Whitehaven Coal in Australia.

RBC Capital Markets downgraded Mueller Water Products (NYSE: MWA).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 655.

The markets opened higher with the Dow adding 15 points to 10,669 ahead of the Federal Reserve's meeting tomorrow. Nasdaq gained 7 points to 2295.

On the upside

Nabors Industries (NYSE: NBR) will pay approximately $900 million to acquire Superior Well Services (Nasdaq: SWSI).

Beverage sales of smoothies and coffee lifted July same store sales for McDonald's (NYSE: MCD) 7% to surpass analyst estimates.

DigitalGlobe (NYSE: DGI) announced a $3.55 billion agreement to provide National Geospatial Intelligence Agency with satellite imagery.

On the downside

Second quarter earnings surged for Dish Network (Nasdaq: DISH) to beat expectations but the company lost customers.

Cannaccord Genuity analyst Jonathan Dorsheimer downgraded Veeco (Nasdaq: VECO).

Hewlett-Packard (NYSE: HPQ) chief executive Mark Hurd was forced to resign on Friday amidst allegations of business conduct violations.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 653.

The markets trimmed its losses but still closed lower over a disappointingly high number of job losses in July. The Dow lost 21 points to 10,653 while Nasdaq slipped 4 points to 2288.

On the upside

Second quarter earnings for Radiant Systems (Nasdaq: RADS) nearly doubled to top analyst estimates as revenue climbed prompting the company to lift its full year outlook.

PerkinElmer (NYSE: PKI) reported higher second quarter earnings that more than doubled to beat expectations and the company raised its guidance for 2010.

Second quarter earnings surged for Sotheby's (NYSE: BID) to surpass analyst estimates by a wide margin as revenue soared.

On the downside

PharMerica (NYSE: PMC) disappointed with sharply lower second quarter earnings.

UBS analyst Amitabh Passi said that Jabil Circuit's (NYSE: JBL) management team has adopted a more cautious view of the upcoming quarter.

Kendall Law Group is investigating Grand Canyon Education (Nasdaq: LOPE) for possible breaches of fiduciary duties by company directors and executives.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 650.

Job Cuts Send Markets Tumbling

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A much greater than expected number of jobs were eliminated last month to send the markets tumbling during the midday with the Dow plunging 138 points to 10,536. Nasdaq dropped 29 points to 2263.

On the upside

Onstream Media (Nasdaq: ONSM) unveiled its new MarketPlace365 virtual tradeshow with Subway that boasts more than 100 food, beverage and consumer packaged goods and services providers participating in the online marketplace.

Scientific Games (Nasdaq: SGMS) reported a second quarter loss but revenue rose to top estimates and the company announced plans to purchase GameLogic.

Assured Guaranty (NYSE: AGO) reversed year ago losses to post a profit for the second quarter that surpassed analyst estimates by a wide margin.

On the downside

ATP Oil & Gas (Nasdaq: ATPG) blamed the drilling moratorium in the Gulf of Mexico for widening second quarter losses more than expected.

While Kulicke & Soffa (Nasdaq: KLIC) reported better than expected third quarter results and forecast fourth quarter revenue ahead of estimates, Bank of America Merrill Lynch analyst Krish Sankar downgraded the company to an Underperform rating citing valuation concerns.

Openwave Systems (Nasdaq: OPWV) narrowed fourth quarter losses but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 643.

The markets opened lower with the Dow falling 46 points to 10,628 as private employers added fewer than expected jobs last month. Nasdaq lost 10 points to 2282.

On the upside

Nanometrics (Nasdaq: NANO) swung to a better than expected profit for the second quarter on higher sales.

Crocs (Nasdaq: CROX) reversed year ago losses to post a profit that surpassed analyst estimates as sales improved and the company cut expenses.

American International Group (NYSE: AIG) reported a loss for the second quarter due to a goodwill impairment charge but the results were better than expected.

On the downside

Alphatec (Nasdaq: ATEC) disappointed with a greater than expected loss for the second quarter and cut its full year outlook.

American Public Education (Nasdaq: APEI) reported higher second quarter earnings that beat expectations but the online education company cut its full year guidance prompting a downgrade.

Although Harman International (NYSE: HAR) swung to a fourth quarter profit, the results fell short of estimates.

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 lost 3 points to 652.


A disappointing jobs report weighed down the markets to a lower close with the Dow slipping 5 points to 10,674. Nasdaq dropped 10 points to 2293.

On the upside

Affymax (Nasdaq: AFFY) reversed year ago losses to post better than expected second quarter profit as revenue more than doubled.

Second quarter earnings for Fuel Systems Solutions (Nasdaq: FSYS) fell but the results surpassed estimates and revenue rose.

Liz Claiborne (NYSE: LIZ) widened second quarter losses but the results were better than expected and the women's apparel company expects to report a profit for the year.

On the downside

Although second quarter earnings rose for Lincoln Educational Services (Nasdaq: LINC), the for-profit educator lowered its full year outlook.

Tetra Technologies (Nasdaq: TTI) reported higher second quarter earnings but warned that year to date capital expenditures are below estimates due to the the drilling moratorium in the Gulf of Mexico.

Manulife Financial (NYSE: MFC) disappointed by swinging to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 655.

Initial jobless claims posted an unexpected gain last week to send the markets lower during the midday with the Dow losing 27 points to 10,652. Nasdaq fell 10 points to 2293.

On the upside

Windows Media Center can now use Hauppauge's (Nasdaq: HAUP) high definition personal video recorder to record television programs.

Atmel (Nasdaq: ATML) widened second quarter losses but revenue climbed to beat analyst expectations.

Regis (NYSE: RGS) retained the services of Peter J. Solomon Co., Faegre & Benson LLP and Wachtell, Lipton, Rosen & Katz to explore strategic alternatives including the option of selling the company.

On the downside

Ikanos Communications (Nasdaq: IKAN) widened second quarter losses and announced a 20% reduction in staff.

Pacer International (Nasdaq: PACR) swung to a second quarter profit but the stock price dropped.

TFS Financial (NYSE: TFSL) disappointed with flat second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 656.

An unexpected increase in first time applications for unemployment benefits weighed down the markets to a lower open with the Dow falling 38 points to 10,642. Nasdaq lost 9 points to 2294.

On the upside

GT Solar International (Nasdaq: SOLR) reported higher first quarter earnings that beat expectations by a wide margin and forecast full year results ahead of estimates.

News Corp. (Nasdaq: NWSA) reversed year ago losses to post a better than expected profit for the fourth quarter.

Second quarter earnings for MetroPCS Communications (NYSE: PCS) tripled as the company added new subscribers.

On the downside

Alexza Pharmaceuticals (Nasdaq: ALXA) will sell common shares and warrants in order to raise approximately $18 million.

Second quarter earnings plunged by more than half for Omnicare (NYSE: OCR) to fall far short of estimates as revenue dropped.

SandRidge Energy (NYSE: SD) swung to a second quarter profit but the company lowered its 2010 production guidance.

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 2 points to 660.

Expansion of the nation's service sector along with the addition of more than expected jobs lifted the markets to a higher close with the Dow gaining 44 points to 10,680. Nasdaq climbed 20 points to 2303.

On the upside

Web.com Group (Nasdaq: WWWW) swung to a loss for the second quarter but expects earnings of $1 per share for 2011.

JS Acquisition extended its offer to acquire outstanding shares of Emmis Communications (Nasdaq: EMMS) for $2.40 per share.

Orient-Express Hotels (NYSE: OEH) narrowed second quarter losses.

On the downside

An article in TheStreetSweeper questioned the Local.com's (Nasdaq: LOCM) management team.

Longbow downgraded Titanium Metals (NYSE: TIE).

Mueller Water Products (NYSE: MWA) reported a third quarter loss.

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

The nation's service sector expanded more than expected to lift the markets higher during the midday with the Dow rising 20 points to 10,656. Nasdaq gained 11 points to 2294.

On the upside

Dendreon (Nasdaq: DNDN) widened second quarter losses as operating expenses soared but sales of its recently approved prostate cancer drug Provenge surged to over $5 million per month.

Stone Energy (NYSE: SGY) reported higher second quarter earnings that beat analyst expectations by a wide margin.

InterOil (NYSE: IOC) announced a joint venture with Mitsui & Co. to develop a Condensate Stripping Plant in Papua New Guinea.

On the downside

Leap Wireless (Nasdaq: LEAP) disappointed with a wider than expected loss for the second quarter.

Second quarter earnings doubled for RehabCare Group (NYSE: RHB) but the hospital operator lowered its 2010 revenue outlook for its hospital division.

Whole Foods Market (Nasdaq: WFMI) reported higher third quarter earnings but the organic grocery store operator forecast slower growth in 2011.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 661.

A modest increase in hiring lifted the markets to a higher open with the Dow adding 8 points to 10,644. Nasdaq rose 4 points to 2287.

On the upside

Second quarter earnings for Priceline.com (Nasdaq: PCLN) surged to surpass analyst expectations by a wide margin prompting an upgrade.

ExpressJet Holdings (NYSE: XJT) will be acquired by SkyWest for approximately $133 million in cash.

Barnes & Noble (NYSE: BKS) announced that it is exploring strategic options to increase shareholder value including the possibility of selling itself.

On the downside

Fourth quarter earnings soared for Super Micro Computer (Nasdaq: SMCI) but the results fell short of analyst expectations.

Drugstore.com (Nasdaq: DSCM) swung to a loss for the second quarter.

Pitney Bowes (NYSE: PBI) reported sharply lower second quarter earnings that missed analyst estimates by a wide margin prompting the company to lower its full year outlook.

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


Disappointing economic data weighed the markets down to a lower close with the Dow losing 38 points to 10,636. Nasdaq fell 11 points to 2283.

On the upside

UBS initiated coverage of McDermott International (NYSE: MDR) with a Buy rating.

Petrohawk Energy (NYSE: HK) reversed year ago losses to post a second quarter profit and announced an offering of $825 million in senior notes.

Second quarter earnings more than doubled for The Corporate Executive Board (Nasdaq: EXBD) to beat expectations and the company raised its full year guidance.

On the downside

Second quarter earnings for Kopin (Nasdaq: KOPN) dropped despite a gain in revenue as margins slipped.

TNS (NYSE: TNS) disappointed with earnings that fell short of estimates and lowered its full year outlook.

Vulcan Materials (NYSE: VMC) blamed lawsuit settlements and higher construction expenses for swinging to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 655.

A greater than expected drop in factory orders weighed the markets down during the midday with the Dow slipping 34 points to 10,640. Nasdaq lost 11 points to 2283.

On the upside

Nova Measuring Instruments (Nasdaq: NVMI) reversed year ago losses to post a profit for the second quarter as revenue more than doubled prompting the company to lift its full year guidance.

Second quarter earnings for Herbalife (NYSE: HLF) surged to beat expectations. The company raised its guidance for the year and announced a 5 cent per share increase to its quarterly dividend to 25 cents per share.

First Industrial Realty Trust (NYSE: FR) widened second quarter losses but the stock price rose.

On the downside

Although Dow Chemical (NYSE: DOW) swung to a profit for the second quarter, the results missed estimates.

Second quarter earnings for Atlas Air Worldwide (Nasdaq: AAWW) nearly tripled but warned of weakening demand in the second half of the year.

OfficeMax (NYSE: OMX) swung to a better than expected profit for the second quarter but said that sales will slip in the current quarter and the full year.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 660.

The markets opened lower with the Dow losing 43 points to 10,630 over flat consumer spending and income. Nasdaq fell 15 points to 2279.

On the upside

Solarfun Power Holdings (Nasdaq: SOLF) reversed year ago losses to post a profit for the second quarter. The company also announced that Hanwha Chemical will invest approximately $78 million to acquire nearly 50% of Solarfun.

Cognizant Technology Solutions (Nasdaq: CTSH) reported higher second quarter earnings that topped analyst estimates and forecast full year results ahead of expectations.

Second quarter earnings rose for Pfizer (NYSE: PFE) to surpass expectations.

On the downside

Sykes Enterprises (Nasdaq: SYKE) reported sharply lower second quarter earnings that fell far short of expectations prompting the company to cut its full year outlook.

Radian Group (NYSE: RDN) disappointed by swinging to a loss for the second quarter that was much wider than expected.

While second quarter earnings rose for Baker Hughes (NYSE: BHI), the results fell short of expectations.

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 8 points to 653.

The markets rocketed to a sharply higher close with the Dow jumping 208 points to 10,674 on upbeat earnings results. Nasdaq leaped 40 points to 2295.

On the upside

Domtar (NYSE: UFS) reported lower second quarter earnings on Friday but the results surpassed analyst expectations by a wide margin.

SolarWinds (NYSE: SWI) will repurchase up to $25 million worth of common shares.

Triple-play and VSAT services provider Wananchi Group in Africa selected Cisco (Nasdaq: CSCO) to provide network technology solutions and services.

Baird analyst Tristan Gerra downgraded Micron Technology (Nasdaq: MU) but the stock price rose.

Ford Motor (NYSE: F) completed the sale of is Volvo brand to Zhejiang Geely Holding Group.

Western Gas Partners (NYSE: WES) will pay approximately $498 million to acquire gas gathering assets in Colorado from Anadarko Petroleum (NYSE: APC).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 661.

A modest gain in construction spending along with strong corporate earnings sent the markets soaring during the midday with the Dow leaping 186 points to 10,652. Nasdaq climbed 35 points to 2290.

On the upside

The Food and Drug Administration conditionally approved EnteroMedics' (Nasdaq: ETRMD) neuroblocking Maestro RC System for treating obesity.

PolyOne (NYSE: POL) reversed year ago losses to post a better than expected profit for the second quarter as revenue soared.

Cliffs Natural Resources (NYSE: CLF) completed its acquisition of the West Virginia coal operations of INR Energy.

On the downside

Radio One (Nasdaq: ROAIK) once again extended the expiration date of its senior subordinated notes exchange offer.

JP Morgan analyst Cory Kasimov downgraded Arena Pharmaceuticals (Nasdaq: ARNA) due to concerns about the company's experimental obesity treatment Ioraserin.

The United Arab Emirates and Saudi Arabia will suspend Research in Motion's BlackBerry (Nasdaq: RIMM) services for violating regulations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 658.

Upbeat corporate earnings news lifted the markets to a sharply higher open with the Dow soaring 175 points to 10,641. Nasdaq surged 39 points to 2294.

On the upside

Allergan (NYSE: AGN) reported higher second quarter income that beat analyst expectations as revenue climbed.

HSBC (NYSE: HBC) reported that earnings more than doubled for the first half of the year as loan loss provisions sank.

Shares of Geron (NYSE: GERN) continued climbing after the Food and Drug Administration cleared the biopharmaceutical to begin testing embryonic stem cell treatments on humans.

On the downside

Omnicare (NYSE: OCR) announced the immediate retirement of president and chief executive Joel F. Gemunder to be replaced on an interim basis by James D. Shelton.

Second quarter earnings for Charles River Laboratories (NYSE: CRL) plummeted to fall short of estimates and the company lowered its full year guidance.

Dynavax Technologies (Nasdaq: DVAX) disappointed by swinging to a loss for the second quarter as expenses climbed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 657.

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