October 2010 Archives

The markets closed flat with the Dow adding 4 points to 11,118 as the economy expanded at a modest 2% pace last quarter. Nasdaq eased a fraction to 2507.

On the upside

The Department of Justice will take no action against Reddy Ice Holdings (NYSE: FRZ) or any of its employees as part of the Antitrust Division's investigation of the packaged ice industry.

TeleNav (Nasdaq: TNAV) reported higher first quarter earnings that beat analyst expectations and forecast second quarter results ahead of analyst estimates. 

Shares of Hong Kong vegetable producer Le Gaga (Nasdaq: GAGA) climbed on its first day of trading.

On the downside

Conexant (Nasdaq: CNXT) reversed year ago losses to post a profit for the fourth quarter but the company warned of losses for the first quarter.

Third quarter earnings for American Axle & Manufacturing (NYSE: AXL) nearly doubled to surpass analyst expectations by a wide margin but the forecast fourth quarter revenue below estimates.

While Synovus Financial (NYSE: SNV) narrowed third quarter losses, the company still fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 703.

The markets traded near the flatline during the midday with the Dow slipping 5 points to 11,108 as the nation's economy expanded at a modest 2% pace last quarter. Nasdaq added 4 points to 2512.

On the upside

Estee Lauder (NYSE: EL) impressed with sharply higher first quarter earnings that beat analyst expectations by a wide margin as department store sales climbed.

First quarter earnings for Maxim Integrated Products (Nasdaq: MXIM) nearly tripled as revenue climbed to top estimates and forecast current quarter earnings ahead of expectations. 

Fairfax Financial Holdings will acquire First Mercury Financial (NYSE: FMR) in a deal valued at approximately $294 million.

On the downside

Exact Sciences (Nasdaq: EXAS) announced that its new Cologuard test detected 87% of colon cancer tumors without a colonoscopy but the stock price tumbled.

Dresser-Rand Group (NYSE: DRC) disappointed with third quarter earnings that dropped in half as revenue fell.

AMAG Pharmaceuticals (Nasdaq: AMAG) found serious adverse reactions in some patients using its anemia treatment Feraheme.

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 added 2 points to 703.

The nation's economy expanded at a 2% pace in the summer quarter to lift the markets to a modestly higher open with the Dow adding 8 points to 11,122. Nasdaq rose 7 points to 2514.

On the upside

While the Food and Drug Administration declined to approve Vivus' (Nasdaq: VVUS) weight loss treatment Qnexa, the agency did request further study results implying that the drug may be approved in the future.

Third quarter earnings fell for Coinstar (Nasdaq: CSTR) but the results beat analyst expectations. 

Monster Worldwide (NYSE: MWW) cited acquisition related costs for swinging to a third quarter loss but the results topped analyst estimates.

On the downside

While third quarter earnings climbed for NuVasive (Nasdaq: NUVA), the company lowered its full year outlook prompting a downgrade.

Genworth Financial (NYSE: GNW) reported higher third quarter earnings but the results fell short of analyst expectations.

Newpark Resources (NYSE: NR) reported higher third quarter earnings but the stock price tumbled.

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 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 700.

Mixed Close Over Mixed Earnings

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The markets closed mixed over mixed earnings news with the Dow slipping 12 points to 11,113 while Nasdaq added 4 points to 2507.

On the upside

Third quarter earnings surged for Imax (Nasdaq: IMAX) to surpass analyst expectations as the company added new theaters.

Eastman Kodak (NYSE: EK) narrowed third quarter losses more than expected as inkjet printer sales climbed while expenses fell.

While LSI (NYSE: LSI) reported lower third quarter earnings, the results topped estimates and gross margins rose.

On the downside

PMI Group (NYSE: PMI) widened third quarter losses more than expected due to a deferred tax assets charge.

The presidential commission investigating the BP oil spill obtained reports from Halliburton (NYSE: HAL) that the cement mixture used just before the explosion was unstable.

Teradyne (NYSE: TER) reported sharply higher third quarter earnings but the test equipment maker forecast fourth quarter results 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 more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 701.

Markets Lower Over Mixed Earnings

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The markets traded lower during the midday with the Dow losing 25 points to 11,100 as investors digested mixed earnings. Nasdaq eased a point to 2501.

On the upside

Sanofi-aventis will pay approximately $520.6 millin in cash to acquire BMP Sunstone (Nasdaq: BJGP).

China GrenTech (Nasdaq: GRRF) secured a contract to provide equipment and integration services for China Broadcasting Corp.'s China Mobile Multimedia Broadcasting project.

Carlyle Group will take Syniverse Holdings (NYSE: SVR) private in a deal valued at approximately $2.6 billion.

On the downside

RBC Capital analyst Mark Sue downgraded JDS Uniphase (Nasdaq: JDSU), lowered his price target on the stock and trimmed his earnings outlook citing slowing growth.

Entropic Communications (Nasdaq: ENTR) reversed year ago losses for the third quarter but revenue fell short of anlayst expectations.

While third quarter earnings for Skechers (NYSE: SKX) rose, the results fell short of expectations and the company warned of increased inventories of its popular toning shoes.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 700.

An increase in foreclosure activity during the summer quarter weighed the markets down to a lower open with the Dow losing 25 points to 11,100. Nasdaq fell 10 points to 2492.

On the upside

Las Vegas Sands (NYSE: LVS) reversed year ago losses to post a better than expected profit for the third quarter.

Third quarter earnings rose to top estimates for Motorola (NYSE: MOT) on strong smartphone sales.

Strong demand lifted second quarter earnings for Flextronics (Nasdaq: FLEX) to surpass analyst expectations.

On the downside

Oclaro (Nasdaq: OCLR) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations and forecast second quarter revenue below estimates.

While third quarter earnings surged to beat analyst expectations for Sourcefire (Nasdaq: FIRE), the computer network security firm forecast fourth quarter results that fell far short of estimates.

Flagstar Bancorp (NYSE: FBC) narrowed third quarter losses but bank priced its offering of 110 million common shares at a sharp discount.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 703.

It was a mixed close for the markets as durable goods orders rose in September due to increased commercial aircraft demand. However, orders slipped when excluding the transportation sector. The Dow fell 43 points to 11,126 while Nasdaq added 5 points to 2503.

On the upside

Shares of Quantum (NYSE: QTM) climbed ahead of its earnings release after market close.

Leerink Swann analysts upgraded Amylin (Nasdaq: AMLN).

Third quarter earnings for Oceaneering International (NYSE: OII) rose to surpass analyst expectations prompting the offshore oil services firm to lift its full year outlook.

On the downside

Lower expenses lifted first quarter earnings for Brinker International (NYSE: EAT), but revenue dropped.

GTx (Nasdaq: GTXI) priced its offering of approximately 14 million common shares at the discounted price of $2.80 per share.

Third quarter earnings for P.F. Chang's (Nasdaq: PFCB) soared but the casual restaurant operator lowered its full year outlook as margins slip.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 704.

The markets extended its losses during the midday with the Dow plummeting 145 points to 11,024 after a Wall Street Journal article indicated that the Federal Reserve's plan to spur the stagnant economy may be far more conservative than expected. Nasdaq dropped 17 points to 2479.

On the upside

Broadcom (Nasdaq: BRCM) impressed with sharply higher third quarter earnings that more than tripled to top analyst estimates and forecast fourth quarter revenue ahead of expectations.

RF Micro Devices (Nasdaq: RFMD) reported higher second quarter earnings that beat expectations. The company also announced that it won a $1.5 million research and development contract with the Office of Naval Research.

Shares of Compellent Technologies (NYSE: CML) continued to surge after posting third quarter earnings yesterday that far exceeded analyst expectations while forecasting fourth quarter results ahead of estimates.

On the downside

Trident Microsystems (NYSE: TRID) narrowed third quarter losses but the company forecast sequentially lower fourth quarter revenue.

Tsakos Energy (NYSE: TNP) priced its offering of approximately 7.6 million common shares at the discounted price of $11.30 per share.

Exact Sciences (Nasdaq: EXAS) blamed increased expenses for widening third quarter losses.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 698.

Lower Open As Earnings Disappoint

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Disappointing earnings weighed the markets down to a lower open with the Dow tumbling 109 points to 11,059. Nasdaq fell 9 points to 2487.

On the upside

Silicon Image (Nasdaq: SIMG) swung to a profit for the third quarter as revenue surged.

F4 Networks (Nasdaq: FFIV) reported higher fourth quarter earnings that beat analyst expectations and forecast first quarter results ahead of estimates. The network equipment company also announced plans to repurchase $200 million worth of common shares.

Nabors Industries (NYSE: NBR) swung to a third quarter loss due to an impairment charge, but revenue climbed to surpass analyst expectations.

On the downside

Sprint (NYSE: S) widened third quarter losses more than expected.

Jones Group (NYSE: JNY) blamed higher expenses for lower third quarter earnings that fell short of expectations.

PDL BioPharma (Nasdaq: PDLI) announced an exchange agreement to retire $92 million in convertible senior notes at 2% due on February 15, 2012 for convertible senior notes at 2.875% due on February 15, 2015.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 703.

The markets closed modestly higher with the Dow adding 5 points to 11,169 despite a drop in home prices as consumer confidence rose in October. Nasdaq gained 6 points to 2497.

On the upside

The stock price of Chinese online retailer Mecox Lane (Nasdaq: MCOX) surged on its first day of trading.

Entegris (Nasdaq: ENTG) reversed year ago losses to post a better than expected profit for the third quarter and forecast fourth quarter results ahead of estimates.

Compellent Technologies (NYSE: CML) reported sharply higher third quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

Third quarter earnings rose for Capella Education (Nasdaq: CPLA), but the for-profit educator forecast fourth quarter results below expectations and warned of slowing enrollment.

China Security & Surveillance Technology (NYSE: CSR) reported higher third quarter income but revenue fell short of estimates and the company trimmed its full year outlook.

Cabot Oil & Gas (NYSE: COG) disappointed with lower third quarter earnings despite higher revenue as expenses increased.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE while decliners barely edged out advancers on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 706.

Earnings Mixed, Markets Flat

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The markets traded flat during the midday with the Dow slipping 8 points to 11,155 over mixed earnings. Nasdaq rose 6 points to 2497.

On the upside

MIPS Technologies (Nasdaq: MIPS) reported sharply higher first quarter earnings that beat analyst expectations as revenue surged.

While Cemex (NYSE: CX) posted a loss for the third quarter, the company also revised its financing agreement allowing more time to repay its short-term debt.

Third quarter earnings soared for SuperGen (Nasdaq: SUPG) as revenue rose.

On the downside

Zoran (Nasdaq: ZRAN) narrowed third quarter losses but warned of significant fourth quarter losses prompting a downgrade.

Ariad Pharmaceuticals (Nasdaq: ARIA) will offer 16 million common shares at a discounted price.

Unisys (NYSE: UIS) disappointed with lower third quarter earnings that fell far short of analyst expectations as revenue dropped.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 710.

Lower Open As Home Prices Drop

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A drop in home prices weighed the markets down to a lower open with the Dow losing 33 points to 11,130. Nasdaq fell 8 points to 2482.

On the upside

Third quarter earnings climbed for Royal Caribbean (NYSE: RCL) to beat analyst expectations prompting the cruise operator to lift its full year outlook.

Coach (NYSE: COH) reported higher first quarter earnings that surpassed expectations as revenue rose.

National Oilwell Varco (NYSE: NOV) reported higher third quarter earnings that topped analyst estimates.

On the downside

Although third quarter earnings rose to top estimates for Tellabs (Nasdaq: TLAB), the telecommunications networking products company forecast fourth quarter revenue below analyst expectations.

Regions Financial (NYSE: RF) disappointed with a wider than expected loss for the third quarter as loan charge-offs climbed.

While third quarter earnings surged for Lexmark (NYSE: LXK), revenue fell short of expectations and the printer maker announced the retirement of chief executive Paul Curlander in spring 2011.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 702.


Upbeat existing homes lifted the markets to a modestly higher close with the Dow rising 31 points to 11,164. Nasdaq gained 11 points to 2490.

On the upside

Pegasystems (Nasdaq: PEGA) introduced a new solution for mortgage lenders that will automatically eliminate errors and improve productivity.

Forbes lifted its price target on AMD (NYSE: AMD).

Sykes Enterprises (Nasdaq: SYKE) lifted its earnings and revenue guidance for the third quarter as demand increased.

On the downside

Bank of Hawaii (NYSE: BOH) reported higher third quarter earnings that beat analyst expectations as loan loss provisions dropped but the stock price fell.

Roddy Boyd wrote in Seeking Alpha that Harbin Electric (Nasdaq: HRBN) has too many red flags to be a good investment.

Ultra Clean (Nasdaq: UCTT) reversed year ago losses to post a profit for the third quarter 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 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 707.

Greater than expected sales of existing homes in September lifted the markets higher during the midday with the Dow adding 48 points to 11,180. Nasdaq rose 14 points to 2493.

On the upside

Sohu.com (Nasdaq: SOHU) reported higher third quarter revenue and earnings that beat analyst expectations and forecast fourth quarter results ahead of estimates.

LDK Solar (NYSE: LDK) will supply BYD Company with polysilicon in a two year contract valued at approximately $300 million.

Mad Money's Jim Cramer said that Motriticy (Nasdaq: MOTR) is a good stock to buy with much upside potential.

On the downside

Savient Pharmaceuticals (Nasdaq: SVNT) failed to sell itself despite approval from the Food and Drug Administration last month for its gout treatment Krystexxa.

Sinovac Biotech (Nasdaq: SVA) blamed a sharp drop in vaccine demand for slashing its revenue outlook for 2010.

Standard & Poor's Ratings Services downgraded Assured Guaranty's (NYSE: AGO) credit rating from AAA to AA+.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 707.

The markets opened higher with the Dow rising 57 points to 11,190 after finance ministers from the world's 20 largest economies agreed to avoid currency devaluations. Nasdaq gained 13 points to 2492.

On the upside

Carlyle Group may take CommScope (NYSE: CTV) private in a deal valued at approximately $2.98 billion.

Seeking Alpha contributor Jeremy Richards wrote in Sunday that Zalicus (Nasdaq: ZLCS) was undervalued and be double the price.

Office Depot (NYSE: ODP) chairman and chief executive Steve Odland resigned after the company settled charges of violating fair disclosure regulations with the Securities and Exchange Commission.

On the downside

RadioShack (NYSE: RSH) reported higher third quarter earnings that topped analyst estimates due to strong smartphone sales but the stock price fell over concerns about the retailer's weakening electronics business .

Shares of RAIT Financial Trust (NYSE: RAS) continued falling after reporting third quarter earnings that missed analyst expectations by a wide margin on Friday.

Investors locked in profits on Wilmington Trust (NYSE: WL), whose shares rallied on Friday on take-over rumors.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 712.


It was a mixed close for the markets with the Dow slipping 14 points to 11,132 while Nasdaq climbed 19 points to 2479. Currency war concerns continue to plague investors.

On the upside

Bloomberg News reported that Wilmington Trust (NYSE: WL) entered discussions with several potential suitors for the possible sale of the company.

Third quarter earnings more than doubled for Schlumberger (NYSE: SLB) as revenue surged.

Chipotle Mexican Grill (NYSE: CMG) reported sharply higher third quarter earnings that beat analyst expectations as revenue climbed.

On the downside

Conn's (Nasdaq: CONN) warned of losses for the third and fourth quarter and announced a rights offering.

VCA Antech (Nasdaq: WOOF) disappointed with lower third quarter earnings that fell short of analyst expectations.

Second quarter earnings for Indian outsourcing firm Wipro (NYSE: WIT) rose but the results missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 703.

Despite upbeat earnings news, the markets traded mixed during the midday with the Dow losing 28 points to 11,117 over renewed concerns of a global currency war.  Nasdaq gained 16 points to 2475.

On the upside

Third quarter earnings for Riverbed Technology (Nasdaq: RVBD) more than doubled to beat analyst expectations as revenue surged and the company announced a 2-for-1 stock split.

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) rose ahead of the Food and Drug Administration's decision on the biopharmaceutical's weight loss treatment Iorcaserin.

Brookdale Senior Living (NYSE: BKD) stock climbed after rival senior living community operator Atria sold some properties to real estate investment trust Ventas.

On the downside

Bucyrus (Nasdaq: BUCY) disappointed with lower third quarter earnings that missed expectations as underground mining original equipment sales fell.

Third quarter earnings slipped for Leggett & Platt (NYSE: LEG) to fall short of analyst expectations.

Although third quarter earnings for Cytec Industries (NYSE: CYT) tripled, the results missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 701.

Mixed Open As G20 Meet

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The markets opened mixed with the Dow slipping 8 points to 11,138 as investors monitor developments from the Group of 20 meeting of finance ministers and central bank governors.  Nasdaq rose 9 points to 2469.

On the upside

General Electric's (NYSE: GE) GE Healthcare will pay approximately $580 million to acquire cancer diagnostic firm Clarient (Nasdaq: CLRT).

KeyCorp (NYSE: KEY) reversed year ago losses to post a profit for the third quarter that surpassed analyst estimates by a wide margin.

Second quarter earnings slipped for Compuware (Nasdaq: CPWR) but the results beat analyst expectations.

On the downside

The Food and Drug Administration refused to approve ViroPharma's (Nasdaq: VPHM) request to begin manufacturing industrial scale lots of its Cinryze (C1 Esterase Inhibitor [Human]) until additional information is submitted for review.

Align Technology (Nasdaq: ALGN) reversed year ago losses but the maker of Invisalign forecast fourth quarter results below estimates.

RAIT Financial Trust (NYSE: RAS) swung to a profit but revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 700.

Upbeat earnings lifted the markets to a modestly higher close with the Dow rising 38 points to 11,146.  Nasdaq added 2 points to 2459.

On the upside

Oppenheimer analyst Brian Nagel said that sales at Pier 1 Imports (NYSE: PIR) will increase due to improving store traffic.

W. R. Grace (NYSE: GRA) reported higher third quarter earnings and .

Diego Della Valle, founder and chief executive of Italian luxury shoe company Tod's, increased his stake in Saks (NYSE: SKS) to 19.05% from 11.2%.

On the downside

Terex (NYSE: TEX) disappointed with a much larger than expected loss for the third quarter prompting a downgrade.

While third quarter earnings climbed for TCF Financial (NYSE: TCB), the results fell short of analyst expectations.

Janus Capital Group (NYSE: JNS) reported higher third quarter earnings that topped analyst estimates but long-term net outflows surged to $2.9 billion.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 698.

Markets Give Up Some Gains

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The markets gave up some of their earlier gains with the Dow up 46 points to 11,154.  Nasdaq rose 6 points to 2463 as investors remained mostly upbeat about corporate earnings.

On the upside

Shares of Vera Bradley (Nasdaq:VRA) soared in its first day of trading.  The handbag and accessories maker priced 11 million shares at $16 apiece.

Travelzoo (Nasdaq: TZOO) posted 3rd quarter earnings that topped analysts' estimates. The online travel media company announced that its European operations had reached profitability.

Shares of Select Comfort (Nasdaq: SCSS) rose sharply after the mattress maker reported profits that beat estimates for the 7th consecutive quarter.

On the downside

Green Bankshares (Nasdaq: GRNB) posted a quarterly loss as the company struggled with its real estate assets.   An analyst promptly downgraded the stock.

Life Time Fitness (NYSE: LTF) reported higher quarterly revenues and earnings, but investors were disappointed with the fitness center operator's outlook.

The banking sector was mostly lower as the foreclosure debacle festered.   Shares of Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) lost ground.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE, but were narrowly edged out on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 699.

Higher Open Over Strong Earnings

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The markets opened higher with the Dow climbing 92 points to 11,200 over strong corporate earnings. Nasdaq gained 21 points to 2479.

On the upside

EBay (Nasdaq: EBAY) reported higher third quarter earnings that topped analyst estimates and forecast current quarter results ahead of expectations.

Third quarter earnings climbed for Netflix (Nasdaq: NFLX) as the online movie rental company added more subscribers prompting upgrades.

Nokia (NYSE: NOK) reversed year ago losses to post a profit for the third quarter that surpassed analyst estimates by a wide margin.

On the downside

Second quarter earnings surged for Cirrus Logic (Nasdaq: CRUS) as revenue climbed but the results fell short of expectations.

The Children's Place (Nasdaq: PLCE) blamed weak sales for lowering its third quarter guidance.

Fidelity National Financial (NYSE: FNF) chief executive Alan L. Stinson resigned. 

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 707.

Markets Soar Over Upbeat Earnings

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Investors welcomed upbeat corporate earnings to send the markets soaring to a sharply higher close with the Dow surging 129 points to 11,107. Nasdaq climbed 20 points to 2457.

On the upside

Third quarter revenue climbed for Hawaiian Airlines parent Hawaiian Holdings (Nasdaq: HA).

Complete Production Services (NYSE: CPX) reversed year ago losses to post a profit for the third quarter.

Fourth quarter earnings surged for Lindsay (NYSE: LNN) to surpass expectations by a wide margin.

On the downside

Christopher & Banks (NYSE: CBK) chief executive Lorna Nagler and chief merchandise officer Susan Connell both resigned.

Grubb & Ellis (NYSE: GBE) warned of losses for the third quarter.

Tupperware Brands (NYSE: TUP) reported higher third quarter earnings but revenue fell short of expectations. 

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 gained 7 points to 702.

Strong Airline Earnings Boost Markets

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Better than expected airline earnings boosted the markets sharply higher during the midday with the Dow soaring 149 points to 11,128. Nasdaq climbed 26 points to 2463.

On the upside

American Airlines (NYSE: AMR) swung to a better than expected profit for the  third quarter as revenue rose.

United Rentals (NYSE: URI) reported sharply higher third quarter earnings that surpassed analyst estimates.

The Chinese government approved Verenium's (Nasdaq: VRNM) Purifine PLC enzyme to be sold in the country.

On the downside

Comerica (NYSE: CMA) reversed year ago losses but the results fell short of expectations.

Ambac Financial (NYSE: ABK) will withdraw over $6 billion worth of claims filed against Lehman Brothers in September 2009 for breach of obligations.

FSI International (Nasdaq: FSII) swung to a fourth quarter profit but warned that first quarter results miss expectations by a wide margin. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 704.

Strong corporate earnings lifted the markets to a higher open with the Dow climbing 65 points to 11,043. Nasdaq rose 6 points to 2443.

On the upside

Delta Air Lines (NYSE: DAL) reversed year ago losses to post a better than expected profit for the third quarter.

Boston Scientific (NYSE: BSX) swung to a third quarter profit that topped analyst estimates.

US Airways (NYSE: LCC) impressed with third quarter earnings that surpassed expectations.

On the downside

The Food and Drug Administration refused to approve Amylin's (Nasdaq: AMLN) and Alkermes' (Nasdaq: ALKS) diabetes treatment Bydureon until more testing was completed.

Cree (Nasdaq: CREE) reported higher first quarter earnings but revenue fell short of expectations and the LED maker forecast second quarter revenue below estimates.

Marshall & Ilsley (NYSE: MI) blamed loan loss provisions for reporting a wider than expected loss for the third quarter. 

In the broad market, advancing issues outpaced decliners by a margin of  7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 700.

Disappointing earnings news sent the markets tumbling to a sharply lower close with the Dow plummeting 165 points to 10,978. Nasdaq stumbled 43 points to 2436.

On the upside

Shares of NetSpend Holdings (Nasdaq: NTSP) surged on its first trading day.

China indicated that it may lower again rare earth exports next year, which lifted shares of rare earth oxide company Molycorp (NYSE: MCP).

While third quarter earnings slipped for Domino's Pizza (NYSE: DPZ), revenue climbed to top analyst estimates.

On the downside

Apple (Nasdaq: AAPL) reported sharply higher third quarter earnings that beat expectations but margins fell and iPad sales disappointed.

The Federal Reserve Bank of New York joined a consortium of investment firms that are suing Bank of America (NYSE: BAC) to repurchase $47 billion in mortgage bonds.

Yahoo (Nasdaq: YHOO) more than doubled third quarter earnings but revenue fell to miss expectations. 

In the broad market, declinig issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 694.

The markets tumbled during the midday with the Dow plunging 190 points to 10,953 after China announced an interest rate increase. Nasdaq plummeted 45 points to 2435.

On the upside

Third quarter earnings more than doubled for Capital One Financial (NYSE: COF) to top analyst expectations.

Opto Circuits will pay approximately $55 in cash to acquire Cardiac Science (Nasdaq: CSCX).

MGIC Investment (NYSE: MTG) narrowed third quarter losses more than expected despite lower revenue.

On the downside

A district court ruled in favor of Smith & Nephew in a patent suit filed against the company by Kinetic Concepts (NYSE: KCI).

Illinois Tool Works (NYSE: ITW) reported higher third quarter earnings that topped analyst estimates but the company lowered its full year revenue guidance.

Weatherford International (NYSE: WFT) reported sharply higher third quarter earnings but revenue fell short of expectations. 

In the broad market, declinig issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 697.

Lower Open Over Mixed Earnings

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Mixed corporate earnings weighed the markets down to a sharply lower open with the Dow tumbling 111 points to 11,032. Nasdaq dropped 29 points to 2450.

On the upside

An article in the Wall Street Journal said that Massey Energy (NYSE: MEE) was exploring the possible sale of the company.

Shares of Peregrine Pharmaceuticals (Nasdaq: PPHM) continued climbing after reporting upbeat interim data from a Phase II clinical trial of its brain cancer treatment Cotara on Friday.

Third quarter earnings for Parker Hannifin (NYSE: PH) more than tripled to beat analyst expectations prompting the company to raise its full year outlook.

On the downside

Infinera (Nasdaq: INFN) reversed year ago losses to post a better than expected profit for the third quarter but the company forecast fourth quarter results below estimates.

Coldwater Creek (Nasdaq: CWTR) warned of an unexpected loss for the third quarter.

Supervalu (NYSE: SVU) disappointed with a greater than expected loss for the second quarter and cut its full year guidance. 

In the broad market, declinig issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 702.

Investors embraced upbeat corporate earnings to boost the markets to a higher close with the Dow gaining 80 points to 11,143. Nasdaq rose 11 points to 2480.

On the upside

Citigroup (NYSE: C) reversed year ago losses to post a better than expected profit for the third quarter as loan defaults dropped.

Molycorp (NYSE: MCP) arranged a debt facility through BNP Paribas Securities for up to $150 million.

Highway Holdings (Nasdaq: HIHO) received approximately $5.56 million in orders for mobile phone protective cases.

On the downside

Shares of Molecular Insight Pharmaceuticals (NYSE: MIPI) fell as investors locked in profits. Bond holders granted the biopharmaceutical an extension of its waiver agreement on Friday.

Sales of Somaxon Pharmaceuticals' (Nasdaq: SOMX) insomnia treatment Silenor may be hurt by a potential generic version of the drug.

The New York Post reported that EMC (NYSE: EMC) entered discussions to acquire Isilon Sytems (Nasdaq: ISLN). 

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 710.


Impressive Citigroup earnings lifted the markets higher during the midday with the Dow climbing 57 points to 11,119. Nasdaq edged up a point to 2470.

On the upside

Peregrine Pharmaceuticals (Nasdaq: PPHM) reported upbeat interim results from a Phase II clinical trial of its brain cancer treatment Cotara.

YRC Worldwide (Nasdaq: YRCWD) announced that third quarter losses will be narrower than last year.

Barron's analysts expect increased earnings and a higher stock price for Owens Illinois (NYSE: OI) as the business recovers.

On the downside

Shares of Ambac Financial (NYSE: ABK) fell as investors locked in profits.

Third quarter earnings for Philips Electronics (NYSE: PHG) tripled but the company cited an uncertain economic climate for issuing a cautious fourth quarter outlook.

H&R Block (NYSE: HRB) sued HSBC Bank for breaking its contract to provide H&R Block clients with instant tax refund anticipation loans and refund anticipation checks. 

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

Upbeat earnings lifted the markets to a higher open with the Dow gaining 47 points to 11,110. Nasdaq added 2 points to 2471.

On the upside

St. Jude Medical (NYSE: STJ) will pay approximately $1.04 billion in cash and stock to acquire heart device maker AGA Medical Holdings (Nasdaq: AGAM).

Quicksilver Resources (NYSE: KWK) received an inquiry to take the company private.

The Food and Drug Administration approved the use of Allergan's (NYSE: AGN) Botox for the treatment of chronic migraines.

On the downside

Halliburton (NYSE: HAL) reported third quarter earnings that more than doubled but revenue fell short of analyst expectations.

Fluor (NYSE: FLR) announced a $163 million charge in the third quarter for rising expenses related to a wind project off the coast of the United Kingdom.

McMoRan Exploration (NYSE: MMR) narrowed third quarter losses but the results fell short of analyst expectations prompting the company to lower it full year production guidance. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 708.

Concerns about significant banking losses from stalled foreclosures sent the Dow down 31 points to close at 11,062. Nasdaq soared 33 points to 2468 over impressive Google earnings.

On the upside

Essilor International will acquire a 50% stake in Shamir Optical Industry (Nasdaq: SHMR).

Inhibitex (Nasdaq: INHX) completed enrolling patients in a Phase II clinical trial of its shingles treatment FV-100.

Computer Sciences (NYSE: CSC) received approximately $4 billion in government contracts during 2009 fiscal year even though the company owed wages and benefits to over 250 employees.

On the downside

Credit card defaults rose in September for Capital One Financial (NYSE: COF).

A government investigation into China's green tech subsidies weighed down shares of Chinese solar stocks JA Solar Holdings (Nasdaq: JASO), ReneSola (NYSE: SOL) and Trina Solar (NYSE: TSL).

DJSP Enterprises (Nasdaq: DJSP) eliminated approximately 10% of its staff. 

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 703.

The markets traded mixed during the midday with the Dow losing 58 points to 11,035 over concerns that the suspension of foreclosures will cost banks billions. Nasdaq climbed 22 points to 2458.

On the upside

Genuine Parts (NYSE: GPC) reported higher third quarter earnings that surpassed analyst expectations as revenue climbed.

National Bank of Greece (NYSE: NBG) chief executive Apostolos Tamvakakis expressed confidence that Greek banks will soon be able to tap the interbank credit market again.

Apple (Nasdaq: AAPL) introduced three models of the iPad designed for business clients.

On the downside

Anadys Pharmaceuticals (Nasdaq: ANDS) priced its public offering of approximately 13.9 million common shares at the discounted price of $1.80 per share.

Joe's Jeans (Nasdaq: JOEZ) blamed greater expenses and a doubling of the company's tax rate for lower third quarter earnings.

First Horizon National (NYSE: FHN) swung to a third quarter profit but revenue fell. 

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 703.

The markets opened mixed with the Dow fallling 79 points to 11,015 while Nasdaq rose 9 points to 2444 as the Federal Reserve explores economic assistance options.

On the upside

Bloomberg reported that TPG and Kohlberg Kravis Robert offered to take Seagate Technology (Nasdaq: STX) private in a deal valued at approximately $7.55 billion.

Google (Nasdaq: GOOG) reported sharply higher third quarter earnings that beat analyst expectations as revenue surged.

An analyst suggested that Western Digital (NYSE: WDC) may go private.

On the downside

Mattel (Nasdaq: MAT) reported higher third quarter earnings but revenue fell short of analyst estimates.

General Electric (NYSE: GE) disappointed with lower third quarter earnings as revenue fell.

Third quarter earnings rose for Gannett (NYSE: GCI) but revenue missed expectations. 

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 706.

The markets closed flat with the Dow easing a point to 11,094 as anticipation of Federal Reserve action to jumpstart the economy tempered news of higher jobless claims and rising wholesale prices. Nasdaq slipped 5 points to 2435.

On the upside

Shares of mortgage insurers MBIA (NYSE: MBI), Ambac Financial Group (NYSE: ABK) and Radian Group (NYSE: RDN) all soared as banks suspended foreclosures to review inaccurate paperwork.

Rising silver prices lifted shares of Silvercorp Metals (NYSE: SVM).

Deutsche Bank analyst Rod Lache upgraded Ford (NYSE: F) to a Buy rating and lifted his price target to $19.50 saying that North American auto industry will recover.

On the downside

Winnebago (Nasdaq: WGO) reversed year ago losses to post a better than expected profit for the fourth quarter but the stock price fell as the recreational vehicle maker remained cautious about retail growth.

Motorola (NYSE: MOT) admitted that the 2.2 upgrade for the Droid X contained a number of bugs.

Shares of for-profit educators Corinthian Colleges (Nasdaq: COCO), Career Education (Nasdaq: CECO), DeVry (NYSE: DV) and ITT Educational Services(NYSE: ESI) all plunged after Apollo Group (Nasdaq: APOL) warned that enrollment numbers will drop sharply. 

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 4 on Nasdaq.

Rising wholesales prices weighed down the markets during the midday with the Dow falling 45 points to 11,050. Nasdaq lost 13 points to 2428.

On the upside

Rumors circulated that Wendy's/Arby's Group (NYSE: WEN) may be acquired.

Fairchild Semiconductor International (NYSE: FCS) impressed with sharply higher third quarter earnings that topped analyst estimates as revenue climbed.

Radian Group (NYSE: RDN) subsidiary Radian Guaranty appointed Brien J. McMahon to the newly created position of chief franchise officer.

On the downside

Charming Shoppes (Nasdaq: CHRS) chief executive James P. Fogarty resigned after eighteen months leading the company.

H&R Block (NYSE: HRB) will pay approximately $287.5 million in cash to acquire tax preparation software company 2SS Holdings.

Morgan Keegan downgraded SunTrust Banks (NYSE: STI) to a Market Perform rating. 

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq.

The markets opened flat with the Dow edging up a fraction to 11,096 as initial applications for unemployment benefits climbed. Nasdaq added a fraction to 2442.

On the upside

The Wall Street Journal reported that AOL (NYSE: AOL) may partner with several private equity firms to acquire Yahoo (Nasdaq: YHOO).

EMC (NYSE: EMC) announced that its Momentum Europe 2010 conference will be held October 25-28, 2010 in Lisbon, Portugal.

ZAGG (Nasdaq: ZAGG) cited better than expected demand of its invisibleSHIELD mobile device cover for forecasting third quarter revenue above analyst expectations.

On the downside

Apollo Group (Nasdaq: APOL) withdrew its 2011 guidance saying that enrollment may drop as much as 40% due to new regulatory rules.

Shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) all fell as all fifty state attorneys general investigate foreclosure practices.

Grupo Televisa (NYSE: TV) may cancel a deal with NII Holdings (Nasdaq: NIHD) unit Nextel to develop a wireless network in Mexico. 

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by 10 to 9 on Nasdaq.

Better than expected earnings lifted the markets to a higher close with the Dow climbing 75 points to 11,096. Nasdaq soared 23 points to 2441.

On the upside

Shares of Motricity (Nasdaq: MOTR) continued climbing after announcing yesterday an agreement to distribute its mCore service through Indian wireless carrier Reliance Communications .

A Motley Fool article yesterday suggested that Crown Media (Nasdaq: CRWN) stock has the potential to double.

Shares of LDK Solar (NYSE: LDK) rose after Kaufman Bros. analyst Jeffrey Bencik said that solar installations are expected to double in 2010 and climb 20% in 2011.

On the downside

ZAGG (Nasdaq: ZAGG) cited strong demand for its invisibleSHIELD for increasing its 2010 outlook.

Rodman & Renshaw analyst Elemer Piros warned that sales of Acorda Therapeutics' (Nasdaq: ACOR) multiple sclerosis treatment Ampyra may drop due to insurance co-payments.

Fairchild Semiconductor (NYSE: FCS) introduced its FAN5365 programmable Buck regulator which is smaller than previous solutions and more energy efficient but the stock price fell. 

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq.


The markets extended its gains during the midda with the Dow soaring 122 points to 11,142 as investors embraced upbeat earnings. Nasdaq climbed 28 points to 2446.

On the upside

Local.com (Nasdaq: LOCM) announced preliminary third quarter earnings above expectations.

Morgan Stanley upgraded Western Refining (NYSE: WNR) to an Overweight Rating.

Phazar (Nasdaq: ANTP) reversed year ago losses to post a profit for the first quarter as revenue climbed.

On the downside

ADTRAN (Nasdaq: ADTN) reported higher third quarter earnings that beat analyst expectations but the stock price dropped.

David Einhorn of Greenlight Capital said that many of St. Joe's (NYSE: JOE) residential developments in Florida are vacant and that the real estate developer must take writedowns for all of its empty properties.

Manitowoc (NYSE: MTW) warned that third quarter revenue will fall short of expectations. 

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.

Upbeat earnings lifted the markets to a higher open with the Dow climbing 81 points to 11,101. Nasdaq gained 16 points to 2434.

On the upside

The Health and Human Services Department will award SIGA Technologies (Nasdaq: SIGA) a contract to provide 1.7 million courses of smallpox antiviral for the national stockpile.

Railroad operator CSX (NYSE: CSX) reported sharply higher third quarter earnings that topped analyst estimates as the company improved efficiency and shipments increased.PZ

Williams (NYSE: WMB) and Williams Partners (NYSE: WPZ) selected Alan Armstrong to replace chairman and chief executive officer Steve Malcolm who will retire on December 31, 2010.

On the downside

MGM Resorts (NYSE: MGM) will sell 40.9 million shares to raise approximately $550 million.

Linear Technology (Nasdaq: LLTC) reported higher first quarter earnings but the results fell short of expectations.

Chesapeake Energy (NYSE: CHK) chief financial officer Marcus Rowland resigned effective October 29, 2010 and will be replaced by Domenic Dell'Osso. 

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq

The Federal Reserve meeting minutes indicated that the Fed was finalizing plans to jumpstart the stalled economic recovery. The markets closed higher with the Dow rising 10 points to 11,020. Nasdaq gained 15 points to 2417.

On the upside

Motricity (Nasdaq: MOTR) introduced its new end-to-end Mobile as a Service solution combining its mCore product suite, cloud-based infrastructure and professional and managed services offerings.

JP Morgan Chase analyst Christopher Horvers said that OfficeMax (NYSE: OMX) was a good acquisition candidate.

Netlist (Nasdaq: NLST) received a patent for its "circuit with flexible portion."

On the downside

Duoyuan Global Water (NYSE: DGW) signed an agreement for the exclusive rights to sell EnviroMix's core mixing technology in China but the stock price fell.

Disappointing reviews of the latest version of the Medal of Honor franchise, which went on sale today, weighed down shares of Electronic Arts (Nasdaq: ERTS).

Ciena (Nasdaq: CIEN) will offer $175 million in convertible senior notes. 

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by nearly 7 to 5 on Nasdaq.

The markets traded mixed during the midday with the Dow falling 35 points to 10,974 while Nasdaq added 4 points to 2406 over growing concerns of an international currency war.

On the upside

Czech Republic solar integrator will distribute Ascent Solar Technologies' (Nasdaq: ASTI) thin film CIGS modules.

Geron (Nasdaq: GERN) began the nation's first clinical trial using embryonic stem cells for the treatment of injuries in humans.

U.S. Airways (NYSE: LCC) reported a 7.5% increase in September revenue passenger miles compared with last year.

On the downside

Nasdaq will delist Tongxin International (Nasdaq: TXIC) on October 14 for failing to produce regulatory filing Form 20-F.

Sterne Agee analyst Andrew Huang initiated coverage of Rubicon Technology (Nasdaq: RBCN) with a Sell rating citing a possible oversupply of crystalline products in 2011.

Corinthian Colleges (Nasdaq: COCO) president and chief operating officer Matt Ouimet will leave the for-profit educator on October 31. 

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 10 to 9 on Nasdaq.

The markets opened lower with the Dow losing 56 points to 10,953 ahead of the release of minutes from the Federal Reserve's September meeting. Nasdaq slipped 7 points to 2394.

On the upside

Pfizer (NYSE: PFE) will pay approximately $3.6 billion in cash to acquire King Pharmaceuticals (NYSE: KG).

Identity security products company ActivIdentity (Nasdaq: ACTI) will be acquired by HID Global parent company Assa Abloy in an all cash deal valued at approximately $162 million.

The U.K.'s Daily Mail reported that L'Oreal may be exploring the possible acquisition of Avon (NYSE: AVP).

On the downside

Morgan Keegan initiated coverage of YRC Worldwide (Nasdaq: YRCWD) with an Underperform rating.

Stifel Nicolaus downgraded Cott (NYSE: COT).

Global Payments (NYSE: GPN) disappointed with lower first quarter earnings that fell short of expectations. 

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq.

Flat Close Ahead Of Earnings Reports

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The markets closed flat with the Dow rising 3 points to 11,010 ahead of earnings reports later this week. Nasdaq edged up a fraction to 2402.

On the upside

UBS analyst John Janedis said that newspaper ads increased 4% over this time last year for October lifting shares of New York Times (NYSE: NYT).

A district court dismissed a class action lawsuit for securities law violations against Flotek Industries (NYSE: FTK) .

FBR Capital analyst Liz Dunn upgraded J. C. Penney (NYSE: JCP) and lifted her price target on the department store operator.

On the downside

Needham analyst N. Quinn Bolton downgraded TriQuint Semiconductor (Nasdaq: TQNT) citing valuation concerns.

Credit Suisse analyst Phillip Winslow expects lower September orders for Citrix Systems' (Nasdaq: CTXS) XenDesktop to drop.

Everest Re Group (NYSE: RE) president and chief operating officer Ralph Jones resigned. Jones was selected to replace outgoing chief executive officer Joseph V. Taranto in January, 2011

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 markets traded modestly higher during the midday with the Dow adding 10 points to 11,017 with investors hopeful that the Federal Reserve will act to jumpstart the stalled economic recovery. Nasdaq rose 8 points to 2410.

On the upside

Bain Capital will pay approximately $1.8 billion to acquire children's apparel retailer Gymboree (Nasdaq: GYMB).

Ascent Solar Technologies (Nasdaq: ASTI) received full IEC 61646 certification, becoming the first thin film CIGS module maker to earn the environmental testing designation.

Collins Stewart analyst Dan Ries upgraded Suntech Power (NYSE: STP) to a Buy rating.

On the downside

Venoco (NYSE: VQ) blamed depressed natural gas prices for lowering its full year production outlook.

SandRidge Energy (NYSE: SD) chief executive Tom Ward sold approximately 6 million shares of company stock.

Standard & Poor's downgraded Manitowoc's (NYSE: MTW) rating on Friday after market close citing a challenging crane environment.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq.

Investor optimism that the Federal Reserve will take action to stimulate the faltering economy lifted the markets to a higher open with the Dow rising 13 points to 11,020. Nasdaq gained 6 points to 2408.

On the upside

Harbin Electric (Nasdaq: HRBN) chief executive Tianfu Yang and Baring Private Equity Asia Group offered $24 per share to take the company private.

The Food and Drug Administration approved Warner Chilcott's (Nasdaq: WCRX) next generation delayed release osteoporosis treatment Atelvia.

LDK Solar (NYSE: LDK) raised its third quarter revenue and wafer shipment outlook.

On the downside

The Food and Drug Administration issued a Complete Response Letter to Alexza Pharmaceuticals (Nasdaq: ALXA) saying that the company's agitation treatment for schizophrenia patients AZ-004 is not ready for approval due to safety concerns.

Cemex (NYSE: CX) will acquire Ready Mix USA's shares in their two joint ventures.

Hudson Securities downgraded MGM Resorts (NYSE: MGM).

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq.

Despite a greater than expected number of job losses in September, the markets closed higher with the Dow gaining 57 points to 11,006 to surpass the 11,000 mark for the first time in five months in anticipation of Federal Reserve action to strengthen the faltering economy. Nasdaq climbed 18 points to 2401.

On the upside

Jefferies & Co. analyst Thomas Wei initiated coverage of Neurocrine Biosciences (Nasdaq: NBIX) with a Buy rating saying that the company's endometriosis treatment elagolix has the potential to become the standard treatment for the gynecological condition.

China Agritech (Nasdaq: CAGC) will engage the services of a Big Four accounting firm to audit the fertilizer company's 2010 financial results.

August gambling revenue leaped 24% on the Las Vegas Strip lifting shares of MGM Resorts (NYSE: MGM) higher.

On the downside

Higher feed prices due to a sharp drop in the nation's corn and soybean crops will hurt profits for meat producers Smithfield Foods (NYSE: SFC), Tyson Foods (NYSE: TSN) and Pilgrim's Pride (NYSE: PPC).

Credit Suisse downgraded Owens-Illinois (NYSE: OI) and cut its price target on the glass container company.

Oppenheimer analyst Gary Hsueh downgraded Yingli Green Energy (NYSE: YGE).

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by 5 to 2 on Nasdaq.

The markets advanced during the midday with the Dow gaining 57 points to 11,006, breaking the 11,000 mark for the first time in five months, as a disappointing job report sparked speculation that Federal Reserve will act to boost the faltering economy. Nasdaq rose 14 points to 2398.

On the upside

TeleCommunication Systems (Nasdaq: TSYS) received an order valued at up to $9.3 million to provide the U. S. Army with satellite terminal spare parts.

Pershing Square Capital acquired an 11% stake in distilled spirits company Fortune Brands (NYSE: FO).

Shares of test preparation company Global Education & Technology (Nasdaq: GEDU) climbed on its first trading day.

On the downside

Deutsche Bank analyst Peter Kim downgraded Lam Research (Nasdaq: LRCX) to a Sell rating saying that the semiconductor sector will experience weakness in the next quarter.

Cytori Therapeutics (Nasdaq: CYTX) priced its offering of 4 million common shares at the discounted price of $4.50 per share.

99 Cents Only Stores (NYSE: NDN) reported higher second quarter revenue but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq.

More jobs than expected were lost in September but the nation's unemployment rate held steady at 9.6%. The markets opened mixed with the Dow rising 21 points to 10,969 while Nasdaq slipped 3 points to 2380.

On the upside

Alcoa (NYSE: AA) reported lower third quarter earnings but the results topped analyst estimates and the aluminum producer lifted its full year global aluminum demand forecast.

Gleacher & Co. analyst Brian Marshall initiated coverage of Quantum (NYSE: QTM) with a Buy rating and set a $4 price target on the stock.

Pershing Square Capital purchased a 16.8% stake in J. C. Penney (NYSE: JCP).

On the downside

Kulicke & Soffa (Nasdaq: KLIC) blamed industry weakness for warning that first quarter revenue will be sharply lower than fourth quarter revenue.

Citigroup cited valuation concerns for downgrading Motorola (NYSE: MOT).

Navios Maritime Partners (NYSE: NMM) will offer 5.5 million common units through a public offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq.

The markets closed mixed with the Dow losing 19 points to 10,948 as enthusiasm for upbeat same store sales was tempered by a potential international currency war that could negatively impact corporate results. Nasdaq added 3 points to 2383.

On the upside

Shares of Standard Financial (Nasdaq: STND) climbed on its first trading day on Nasdaq.

Microsoft (Nasdaq: MSFT) chief executive Steve Ballmer visited Adobe (Nasdaq: ADBE) sparking rumors that Microsoft may be interested in acquiring Adobe.

September same store sales soared 5.1% for J. C. Penney (NYSE: JCP).

On the downside

Moody's Investors Service placed Allied Irish Banks' (NYSE: AIB) mortgage bonds under review for a possible downgrade.

Gleacher & Co. analyst Yun Kim expects North American online advertising sales to have dropped in the quarter just ended for Yahoo (Nasdaq: YHOO).

Shares of Alcoa (NYSE: AA) fell ahead of its earnings release after market close.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 9 to 7 on Nasdaq.


Concerns that an international currency war may hinder the global economic recovery weighed down the markets during the midday with the Dow falling 52 points to 10,915. Nasdaq lost 8 points to 2372.

On the upside

September same store sales unexpectedly rose for American Eagle Outfitters (NYSE: AEO) prompting the apparel retailer to lift its third quarter outlook.

Wunderlich Securities analyst Theodore O'Neill upgraded MEMC Electronic Materials (NYSE: WFR) and lifted his price target on the semiconductor saying that more solar farms will be built.

An article in DealReporter said that BMC Software (Nasdaq: BMC) may be exploring the possible sale of the company.

On the downside

PepsiCo (NYSE: PEP) reported higher third quarter earnings but lowered the top end of its full year guidance due to currency exchange rates.

First quarter same store sales fell 4.7% for Bebe Stores (Nasdaq: BEBE).

An arbitration panel decided that some of Affymax's (Nasdaq: AFFY) patents for its anemia treatment Hematide are co-owned by Johnson & Johnson (NYSE: JNJ) with some disputed patents and patent applications are solely owned by Johnson & Johnson.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq.

While September same store sales rose, retailers indicated that they will aggressively discount during the important holiday shopping season if customers fail to spend. The markets opened flat with the Dow adding 3 points to 10,971 while Nasdaq rose 8 points to 2388.

On the upside

Alvarion (Nasdaq: ALVR) partnered with Canada's Barret Xplore to deploy the first national 4G network in Canada.

Spherix (Nasdaq: SPEX) reported positive results from a Phase 3 study of its Type 2 diabetes treatment D-tagatose.

Abercrombie & Fitch (NYSE: ANF) reported sharply higher September same store sales that beat analyst expectations by a wide margin.

On the downside

Immucor (Nasdaq: BLUD) disappointed with first quarter revenue that fell short of estimates and cut its full year outlook.

Vanguard Natural Resources (NYSE: VNR) priced its public offering of 4.15 million common units at $25.40 per unit.

Marriott (NYSE: MAR) reversed year ago losses to post a third quarter profit but revenue missed expectations and the hotel operator forecast fourth quarter and full year earnings that fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 4 points to 685.

Mixed Close Over Job Losses

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The markets closed mixed with the Dow rising 22 points to 10,967 as jobs were eliminated by private employers in September for the first time in seven months. Nasdaq lost 19 points to 2380.

On the upside

Ivanhoe Energy (Nasdaq: IVAN) reported that considerable gas has been observed in the mud at the surface while drilling at it Zitong-1 well in the Sichuan Province of China.

Leon Cooperman of the hedge fund firm Omega Advisors purchased 8.5 million shares of PMI Group (NYSE: PMI) for a 5.3% stake in the mortgage insurer.

Shares of BioFuel Energy (NYSE: BIOF) continued climbing over speculation that the Environmental Protection Agency will approve the new ethanol fuel blend E15.

On the downside

General Maritime (NYSE: GMR) cut its quarterly dividend to a penny per share.

DuPont Fabros Technology (NYSE: DFT) announced a public offering of preferred stock .

Shares of enterprise software firms Red Hat (NYSE: RHT) and Salesforce.com (NYSE: CRM) fell after data management firm Equinix (Nasdaq: EQIX) cut its revenue outlook.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by 7 to 5 on Nasdaq.

Disappointing jobs data weighed down the markets during the midday with the Dow losing 22 points to 10,922. Nasdaq fell 27 points to 2372.

On the upside

Engineered equipment supplier Robbins & Myers (NYSE: RBN) will pay approximately $422 million in cash and stock to acquire oilfield services firm T-3 Energy Services (Nasdaq: TTES).

Borders Group (NYSE: BGP) will hire more temporary workers this year for the holiday shopping season than last year as sales slowly improve.

Brean Muirray initiated coverage of Massey Energy (NYSE: MEE) with a Buy rating.

On the downside

Gleacher & Co. analyst Brian Marshall downgraded F5 Networks (Nasdaq: FFIV) saying that the company is not likely to be acquired in the near term.

Shares of data storage provider Rackspace Hosting (NYSE: RAX) fell after rival Equinix (Nasdaq: EQUIX) cut its third quarter revenue outlook.

Allied Irish Banks (NYSE: AIB) may have to lower the sales price of its 22% stake in M&T Bank (NYSE: MTB).

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq.


The markets opened mixed with the Dow adding 6 points to 10,950 while Nasdaq lost 14 points to 2385 as private employers eliminated jobs in September.

On the upside

Monsanto (NYSE: MON) narrowed fourth quarter losses.

American Airlines (NYSE: AMR) announced a joint venture with British Airways and Iberia to offer lower fares with more flight times and will recall approximately 800 employees to staff the additional flights.

TeleCommunication Systems (NYSE: TSYS) received a contract valued at approximately $269 million to provide the Marine Corps with the company's Wireless Point-to-Point Link-Delta Solutions integrated communications system.

On the downside

Equinix (Nasdaq: EQIX) cut its revenue outlook for the third quarter as well as the full year prompting downgrades.

Bloomberg reported that Lazard and J. P. Morgan Chase are advising Wilmington Trust (NYSE: WL) as the bank attempts to secure capital from private equity firms.

SAVVIS (Nasdaq: SVVS) narrowed its full year revenue guidance but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while delincers edged out advancers by more than 10 to 9 on Nasdaq.

The nation's service sector continued to expand in August lifting the markets to a sharply higher close with the Dow leaping 193 points to 10,944. Nasdaq jumped 55 points to 2399.

On the upside

Speculation that the Environmental Protection Agency will approve the E15 ethanol fuel blend lifted shares of ethanol producer BioFuel Energy (Nasdaq: BIOF).

Flagstar Bank (NYSE: FBC) introduced a new line of products and services for small businesses.

Skechers (NYSE: SKX) unveiled its Shape-Up N'Go iPhone app for tracking and sharing exercise activities while wearing its line of Shape-up shoes.

On the downside

Seeking Alpha contributor Isaac Silbermann suggested that management at China Agritech (Nasdaq: CAGC) was corrupt.

MaxLinear (NYSE: MXL) lowered its revenue outlook for the third quarter as clients cut orders.

The Securities and Exchange Commission will charge Satyam Computer Services (NYSE: SAY) with civil fraud related to the $1 billion accounting scandal that rocked the investment world in January 2009.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq.

Continued expansion of the nation's services sector lifted that markets sharply higher during the midday with the Dow soaring 179 points to 10,931. Nasdaq surged 51 points to 2395.

On the upside

Navistar (NYSE: NAV) received an $18.9 million contract to provide 38 heavy truck tractors to the U. S. Navy.

RBC Capital Markets analyst Edward Aaron lifted his price target for Harley-Davidson (NYSE: HOG) citing improving sales.

Jamba Juice (Nasdaq: JMBA) and Nestle are finalizing details for the renewal of their partnership to develop and market ready-to-drink beverages.

On the downside

Craig-Hallum analyst Jeff Van Rhee downgraded JDA Software (Nasdaq: JDAS) and lowered his price target due to deal delays and a breach of contract suit against the company.

Russian telecommunications company Vimpelcom (NYSE: VIP) will pay approximately $6.6 billion in cash and stock to acquire Weather Investments' Wind Telecomunicazioni in Italy and Orascom Telecom in Egypt.

Lending Processing Services (NYSE: LPS) denied media characterizations that its document preparation practices for the assignment of mortgages were not within industry standards.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq.

The markets opened higher with the Dow climbing 99 points to 10,850 after the Bank of Japan lowered its key interest rate. Nasdaq gained 32 points to 2376.

On the upside

Celldex (Nasdaq: CLDX) reported positive results from a clinical trial of its cancer vaccine CDX-1401.

Televisa (NYSE: TV), the largest media company in the Spanish-speaking world, extended its strategic relationship with the most-watched Spanish language media company in the United States, Univision, with a $1.2 billion investment for a 5% stake in the company and an expanded program license agreement.

MEMC Electronic Materials (NYSE: WFR) will sell its 70-megawatt Rovigo, Italy solar plant to private equity firm First Reserve for approximately $378 million.

On the downside

Talbots (NYSE: TLB) blamed inconsistent customer traffic for cutting its third quarter as well as its full year revenue guidance. The women's apparel retailer also announced the closing of between 75 to 100 stores in the next three years.

Iron Mountain (NYSE: IRM) increased its stock repurchase plan by $200 million.

FBR Capital analyst Scott Valentin trimmed his price target for American Express (NYSE: AXP) after the company vowed to fight allegations of anticompetitive practices by the Department of Justice.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq.

The markets closed lower with the Dow dropping 78 points to 10,751 as new factory orders fell. Nasdaq tumbled 26 points to 2344.

On the upside

Dynamex (Nasdaq: DDMX) agreed to be taken private by Greenbriar Equity in a deal valued at approximately $210 million.

Liz Claiborne (NYSE: LIZ) was one of the top percentage gainers among retail stocks in the third quarter.

Ventas will pay approximately $41.5 million to acquire Sunrise Senior Living's (NYSE: SRZ) joint venture interests.

On the downside

American Express (NYSE: AXP) will challenge the Department of Justice's allegations of antitrust violations.

Huron Consulting (Nasdaq: HURN) cut its full year revenue guidance and announced the sale of its disputes and investigations business to Grant Thornton.

UBS analyst Uche Orji warned that Micron Technology's (Nasdaq: MU) fourth quarter earnings may fall short.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq.

A drop in factory orders sent the markets lower during the midday with the Dow falling 88 points to 10,741. Nasdaq dropped 29 points to 2341.

On the upside

Morgan Stanley analyst Adam Jonas initiated coverage of Ford (NYSE: F) with an Overweight rating saying that Ford sales will improve in 2011.

The Gaming Inspection and Coordination Bureau in Macau reported a 40% jump in September gaming revenue lifting shares of Las Vegas Sands (NYSE: LVS).

Gramercy Capital (NYSE: GKK) will purchase up to 4 million shares of preferred stock.

On the downside

China XD Plastics (Nasdaq: CXDC) will offer $20 million worth of common share through a registered direct placement.

Eyak Technology withdrew its cash offer to purchase GTSI (Nasdaq: GTSI) after the United States Small Business Administration suspended GTSI from receiving future federal contracts.

Uranium Resources (Nasdaq: URRE) board of director member Robert Gallagher resigned on September 30, 2010 and was hired as a consultant on October 1, 2010.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq.

Mixed Open As Factory Orders Drop

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Factory orders fell in August due to a sharp drop in commercial aircraft and motor vehicle demand.  The markets opened mixed with the Dow rising 5 points to 10,835 while Nasdaq lost 6 points to 2364.

On the upside

Semiconductor Microsemi (Nasdaq: MSCC) will pay approximately $430 million to acquire field programmable gate array maker Actel (Nasdaq: ACTL).

The New York Post reported that Sara Lee (NYSE: SLE) rejected a $12 billlion unsolicited acquisition offer from private equity firm KKR & Co.

Bloomberg reported that data storage firm Isilon Systems (Nasdaq: ISLN) retained the services of Qatalyst Partners to explore a possible sale of the company.

On the downside

Coca-Cola (NYSE: KO) completed the purchase of its largest North American bottler Coca-Cola Enterprises (NYSE: CCE) for $3.4 billion.

Goldman Sachs downgraded Macy's (NYSE: M).

BPZ Resources (NYSE: BPZ) will suspend drilling at its Albacora offshore well along the coast of Peru after determining that the site was a dry hole.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq.

The markets closed modestly higher with the Dow gaining 41 points to 10,829 as unemployment benefit extensions lifted incomes. Nasdaq added 2 points to 2370.

On the upside

Shares of cybersecurity solutions firm KEYW Holding (Nasdaq: KEYW) rose on its initial trading day.

Wipro Technologies (NYSE: WIT) appointed Sid Nair to the position of Chief Sales and Operations Officer for USA and Canada.

GenCorp's (NYSE: GY) Aerojet unit produced its 1000th solid rocket motor for the Nulka expendable decoy.

On the downside

Christopher & Banks (NYSE: CBK) widened second quarter losses more than expected.

Craig-Hallum analyst Frank McEvoy downgraded LodgeNet (Nasdaq: LNET) citing the company's withdrawal of its note offering yesterday.

Shares of Hertz (NYSE: HTZ) continued falling after Dollar Thrifty (NYSE: DTG) rejected it's acquisition offer yesterday.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 679.

The markets advanced during the midday with the Dow rising 39 points to 10,827 as consumer spending rose in August. Nasdaq edged up a fraction to 2369.

On the upside

Shares of China Cache International (Nasdaq: CCIH) more than doubled on its first trading day.

DemandTec (Nasdaq: DMAN) narrowed second quarter losses on lower operating expenses.

Acacia Research (Nasdaq: ACTG) settled patent suits with Dialight, Hynix Semiconductor, Philips Electronics and Red Hat.

On the downside

DynaVox (Nasdaq: DVOX) blamed weak demand for withdrawing its guidance for 2011.

Bloomberg reported that errors on bank foreclosure documents may affect millions of properties sending shares of the nation's biggest title insurance firm Fidelity National Financial (NYSE: FNF) tumbling.

H&R Block (NYSE: HRB) expects 2011 earnings to be 5 cents per share lower due to a policy change by the Internal Revenue Service.

In the broad market, advancing issues outpaced decliners by a margin of nearly 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 675.

The markets opened mixed with the Dow adding 6 points to 10,795 while Nasdaq slipped 3 points to 2365 as incomes rose but the gain was fueled by the extension of unemployment benefits.

On the upside

The Wall Street Journal reported that Gymboree (Nasdaq: GYMB) was exploring the option of selling itself.

Accenture (NYSE: ACN) reported higher fourth quarter earnings that topped analyst estimates as revenue rose. The managment consulting firm also lifted its semi-annual dividend and raised its fiscal 2011 outlook.

BP (NYSE: BP) used its Gulf of Mexico oil field assets as collateral for the $20 billion victims fund the company created for the worst oil spill in the nation's history.

On the downside

Teekay Tankers (NYSE: TNK) priced its public offering of 8.2 million common shares at $12.15 per share.

The Law Offices of Robbins Umeda LLP and Levetown & Jenkins LLP are both investigating Green Mountain Coffee Roasters (Nasdaq: GMCR) for possible breach of fiduciary duties.

Auriga analyst Mark Bachman downgraded JA Solar (Nasdaq: JASO) saying that the stock price climbed above his price target of $8.

In the broad market, advancing issues outpaced decliners 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 rose 4 points to 680.

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