January 2011 Archives

A sharp gain in December consumer spending lifted the markets to a higher close with the Dow climbing 68 points to 11,891. Nasdaq gained 13 point to 2700.

On the upside

AsiaInfo-Linkage (Nasdaq: ASIA) will repurchase up to $60 million worth of common shares.

Sky-mobi (Nasdaq: MOBI) entered a strategic partnership with Chinese Internet portal Tencent to promote Tencent's QQ Mobile Browser on Sky-mobi's Maopao application store.

Orexigen Therapeutics (Nasdaq: OREX) stock climbed ahead of the Food and Drug Administration's decision on the company's obesity treatment Contrave.

On the downside

Citron Research questioned the growth of China MediaExpress (Nasdaq: CCME).Chile's antitrust court suspended the merger between Brazilian airliner TAM  (NYSE: TAM) and Chilean LAN Airlines. 

UBS Securities analyst Amitabh Passi initiated coverage of Motorola Mobility (NYSE: MMI) with a Hold rating saying that due to the competitive nature of the wireless market, the future of Motorola Mobility is uncertain.In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points 781.


Markets Advance Over Upbeat Earnings

|

The markets advanced during the midday with the Dow gaining 54 points to 11,877 over upbeat earnings. Nasdaq climbed 15 point to 2702.

On the upside

Shares of Advanced Micro Devices (NYSE: AMD) climbed after Intel (NYSE: INTC) revealed a design error in a support chip that will lower revenue in the first quarter by approximately $300 million.

Chesapeake Energy (Nasdaq: CHK) sold a 33.3% stake of its shale deposit in Wyoming and Colorado to Chinese oil company CNOOC for approximately $1.3 billion.

Credit Suisse analyst Hamzah Mazari upgraded Pall (NYSE: PLL) and said that the water filtration system maker may be the target of a merger or acquisition after chief executive Eric Krasnoff retires in March 2012.

On the downside

Concerns that political unrest in Egypt may force the closure of the Suez Canal weighed down shares of shipping companies Frontline (NYSE: FRO) and General Maritime (NYSE: GMR).Ford (NYSE: F) recalled more than 425,000 Windstar minivans produced between 1999 and 2003 due to a possible separation of a front lower control arm. 

ProLogis (NYSE: PLD) agreed to be acquired by AMB Property (NYSE: AMB) in an all stock deal valued at approximately $5.7 billion.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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points 785.


Mergers and acquisitions lifted the markets to a higher open with the Dow rising 28 points to 11,852. Nasdaq edged up a point to 2688.

On the upside

Alpha Natural Resources (NYSE: ANR) will acquire Massey Energy (NYSE: MEE) in a cash and stock deal valued at approximately $7.1 billion.

The Food and Drug Administration approved Depomed's (Nasdaq: DEPO) once daily treatment for shingles Gralise.

NPS (Nasdaq: NPSP) reported positive results from a Phase 3 clinical trial of its adult short bowel syndrome treatment Gattex.

On the downside

UBS downgraded Ciena (Nasdaq: CIEN) to a Sell rating.A federal judge will allow Starbucks (Nasdaq: SBUX) to unilaterally end its distribution partnership with Kraft Foods (NYSE: KFT). 

Morgan Keegan downgraded Synovus Financial (NYSE: SNV).In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points 777.


Egyptian Unrest Sink Stocks

|

Widespread protests in Egypt sent the markets tumbling to a sharply lower close with the Dow plummeting 166 points to 11,823. Nasdaq sank 68 points to 2686.

On the upside

Accuray (Nasdaq: ARAY) reversed year ago losses to post an unexpected profit for the second quarter.

First quarter earnings for Ariba (Nasdaq: ARBA) surged due to the sale of the company's outsourcing unit and the business commerce solutions provider forecast current quarter revenue well ahead of analyst estimates.

Oplink Communications (Nasdaq: OPLK) reported sharply higher second quarter earnings that surpassed expectations and forecast third quarter income and revenue above analyst estimates.

On the downside

The Food and Drug Administration requested that Arena Pharmaceuticals (Nasdaq: ARNA) conduct several more safety studies of its obesity treatment Iorcaserin.Myriad Genetics (Nasdaq: MYGN) blamed higher tax expenses for a drop in second quarter income. 

Cemex (NYSE: CX) may issue as many as 6 billion new shares as it restructures debt.In the broad market, declining 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 skidded 20 points 775.

The markets tumbled during the midday with the Dow plunging 138 points to 11,851 as the nation's economy expanded by a less than expected 3.2% in the fourth quarter. Nasdaq plummeted 59 points to 2695.

On the upside

Shares of Savvis (Nasdaq: SVVS) climbed after rival data center operator Terremark (Nasdaq: TMRK) agreed to be acquired by Verizon (NYSE: VZ).

Shares of mobile marketing and advertising technology provider Velti (Nasdaq: VELT) surged on its first trading day.

BPZ Resources (NYSE: BPZ) announced the closing of a $40 million loan from Credit Suisse.

On the downside

Monster Worldwide (NYSE: MWW) reversed year ago losses but the results fell short of estimates.Although fourth quarter earnings for Thoratec (Nasdaq: THOR) rose, the results missed expectations and the medical device maker forecast 2011 results below analyst estimates. 

Infinera (Nasdaq: INFN) narrowed fourth quarter losses but revenue fell short prompting a downgrade.In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 16 points 779.

The nation's economy grew at a 2.9% pace in 2010, a five year high, but the rate is not enough to lower unemployment. The markets opened lower with the Dow falling 43 points to 11,946 while Nasdaq tumbled 28 points to 2726.

On the upside

Verizon (NYSE: VZ) will pay approximately $1.4 billion to acquire cloud computing firm Terremark Worldwide (Nasdaq: TMRK).

Darling International (NYSE: DAR) priced its offering of more than 24 million common shares at $12.70 per share.

Nokia (Nasdaq: NOK) will provide location based services to Chinese Internet service providers SINA and Tencent through Ovi Maps.

On the downside

PMC-Sierra (Nasdaq: PMCS) reported lower fourth quarter earnings and forecast first quarter revenue below estimates.Fourth quarter earnings rose for Amazon (Nasdaq: AMZN) but revenue missed analyst expectations and the online retailer warned of lower operating profit margins in the first quarter. 

Ford Motor (NYSE: F) blamed surprise loss at its European operations for a sharp plunge in fourth quarter earnings.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 slipped 2 points 792.




Although jobless claims rose more than expected last week, the markets closed modestly higher with the Dow edging up 4 points to 11,989. Nasdaq rose 15 points to 2755.

On the upside

El Paso (NYSE: EP) reported a 22% increase in proved natural gas reserves in 2010.

LSI (NYSE: LSI) blamed charges for swinging to a fourth quarter loss but the results topped analyst estimates.

Newell Rubbermaid (NYSE: NWL) reported higher fourth quarter earnings that beat expectations.

On the downside

Console Energy (NYSE: CNX) blamed charges for significantly lower fourth quarter earnings.Fourth quarter earnings plunged for Greenhill & Co. (NYSE: GHL) as expenses soared. 

Timken (NYSE: TKR) reversed year ago losses to post fourth quarter profit that topped estimates but the stock price fell.In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held edged up a point 795.



The markets traded modestly higher during the midday with the Dow adding 11 points to 11,996 despite upbeat earnings as investors digested Standard & Poor's downgrade of Japan. Nasdaq gained 16 points to 2756.

On the upside

Cirrus Logic (Nasdaq: CRUS) reported third quarter earnings that doubled from last year to top analyst estimates as revenue surged.

Fourth quarter earnings for Teradyne (NYSE: TER) more than tripled to beat analyst expectations as revenue leaped and the semiconductor testing equipment maker forecast first quarter results ahead of estimates.

January same-store sales for Rite Aid (NYSE: RAD) soared 1.1%.

On the downside

Motorola Mobility (NYSE: MMI) swung to a fourth quarter profit but warned of losses for the current quarter as smartphone sales slow.Fourth quarter earnings tumbled for Murphy Oil (NYSE: MUR) to fall short of expectations prompting a downgrade. 

Robert Half International (NYSE: RHI) reported higher fourth quarter earnings but warned of lower margins in the current quarter.In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held added 3 points 796.


Higher Open Over Upbeat Earnings

|

The markets opened higher with the Dow gaining 31 points to 12,016 over upbeat earnings. Nasdaq climbed 11 points to 2751.

On the upside

Netflix (Nasdaq: NFLX) reported sharply higher fourth quarter earnings that surpassed analyst expectations as 3.1 million new subscribers joined the movie rental service and the company forecast first quarter results ahead of estimates.

Hanmi Financial (Nasdaq: HAFC) reversed year ago losses to post a better than expected profit for the fourth quarter as loan loss provisions drop.

ProLogis (NYSE: PLD) entered merger discussions with AMB Property (NYSE: AMB).

On the downside

Pluristem Therapeutics (Nasdaq: PSTI) priced its offering of 11 million units at $3.25 per unit.Third quarter earnings rose for Quantum (NYSE: QTM) but the results fell short of estimates and revenue dropped. 

Royal Caribbean (NYSE: RCL) reported sharply higher fourth quarter earnings that beat analyst expectations but the cruise ship operator forecast first quarter and 2011 results below estimates.In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 793.

Upbeat earnings and soaring new home sales lifted the markets to a higher close with the Dow rising 8 points to 11,985. Nasdaq gained 20 points to 2739.

On the upside

First quarter earnings for Rockwell Automation (Nasdaq: ROK) nearly doubled to surpass expectations as revenue climbed and the company forecast full year results ahead of estimates.

A significant valuation charge weighed down fourth quarter earnings for Allegheny Technologies (NYSE: ATI) but the company expects 2011 full year earnings to climb above analyst expectations.

Second quarter earnings slipped for Buckeye Technologies (NYSE: BKI) but revenue climbed. Last year's income was boosted by alternative fuel mixture credits which have expired.

On the downside

Silicon Laboratories (Nasdaq: SLAB) reported lower fourth quarter earnings that topped estimates and forecast first quarter results that fell short of expectations.Second quarter earnings rose for WMS Industries (NYSE: WMS) but revenue missed expectations and the slot machine maker forecast third quarter revenue below estimates. 

Legg Mason (NYSE: LM) reported higher third quarter earnings but assets under management dropped as investors withdrew their funds.In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 793.









President Barack Obama's declaration that corporate tax loopholes must be closed in order to lower the business tax rate lifted the markets higher during the midday with the Dow gaining 20 points to 11,997. Nasdaq rose 19 points to 2738.

On the upside

Fortinet (Nasdaq: FTNT) updated and expanded its services to offer real-time online training and simplified professional services packages.

United Continental (NYSE: UAL) reported a fourth quarter loss due to expenses related to the merger of United Airlines and Continental Airlines but the results beat expectations and revenue rose.

DeVry (NYSE: DV) impressed with higher second quarter earnings and revenue that beat analyst expectations.

On the downside

Third quarter earnings slipped for CA Technologies (Nasdaq: CA) but the results topped analyst estimates and the company lifted its full year guidance.Sara Lee (NYSE: SLE) rejected an acquisition offer from a private equity consortium led by Apollo Management. 

Fourth quarter earnings plunged for Eastmant Kodak (NYSE: EK) as sales dropped.In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 791.








A surge in new single family home sales lifted the markets to a higher open with the Dow rising 37 points to 12,014. Nasdaq climbed 21 points to 2740.

On the upside

Fourth quarter earnings surged for Juniper Networks (NYSE: JNPR) as expenses dropped and revenue climbed.

US Airways (NYSE: LCC) reversed year ago losses to post a better than expected profit for the fourth quarter as revenue rose.

Morgan Stanley (NYSE: MRO) upgraded Marathon Oil to an Overweight rating.

On the downside

RF Micro Devices (Nasdaq: RFMD) reported higher third quarter earnings that topped estimates but revenue fell short and the company warned of lower fourth quarter revenue that will miss expectations.Xerox (NYSE: XRX) blamed restructuring charges for lower fourth quarter earnings and forecast first quarter earnings below estimates. The document systems and services company also announced that chief financial officer Lawrence A. Zimmerman will retire next month. 

While second quarter earnings for MIPS Technologies (Nasdaq: MIPS) nearly doubled, revenue missed analyst estimates.In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancer by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 779.







Flat Close Over Mixed Earnings

|

The markets closed near the flatline with the Dow easing 3 points to 11,977 over mixed earnings. Nasdaq added a point to 2719.

On the upside

Tuesday Morning (Nasdaq: TUES) reported lower second quarter earnings but the discount furniture retailer forecast full year results ahead of estimates.

Although AK Steel Holding (NYSE: AKS) swung to a loss for the fourth quarter, the results were better than expected.

Harley-Davidson (NYSE: HOG) narrowed fourth quarter losses as revenue rose to surpass analyst estimates.

On the downside

Shares of Genco Shipping & Trading (NYSE: GNK) after Korea Line, which charters vessels from shipping companies, filed for bankruptcy.Investors locked in profits on LDK Solar (NYSE: LDK). The stock soared yesterday over a possible reduction in solar import tariffs in Germany.

A Nevada judge ordered Bank of America (NYSE: BAC) to stop all nonjudicial foreclosures in the state.In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancer by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 779.






Disappointing earnings weighed the markets down during the midday with the Dow dropping 51 points to 11,929. Nasdaq fell 11 points to 2706.

On the upside

Cavico (Nasdaq: CAVO) won a contract to construct a tunnel for the Song Giang 1 hydropower plant in Vietnam valued at approximately $7.75 million.

Glu Mobile (Nasdaq: GLUU) launched its popular Gun Bros social mobile game on Facebook, Wild Tangent and hi5.

Brinker International (NYSE: EAT) reported second quarter earnings that more than doubled to top analyst estimates as expenses fell.

On the downside

Concerns that generic drug maker Teva Pharmaceuticals (Nasdaq: TEVA) may receive regulatory approval for a generic version of Momenta Pharmaceuticals' (Nasdaq: MNTA) blood thinner Lovenox weighed down shares of the biotechnology company.Shares of Assured Guaranty (NYSE: AGO) and MBIA (NYSE: MBI) continued to drop over worries that Standard & Poor's may downgrade the bond insurer after establishing new ratings criteria.

The bankruptcy filing of Korea Line sent shares of Eagle Bulk Shipping (Nasdaq: EGLE) tumbling over concerns that Eagle Bulk could lose up to $700 million in revenue if Korea Line breaches its charter arrangements with Eagle Bulk.In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points 776.





Home Prices Drop, Markets Open Lower

|

Home prices in the nation's largest cities continued to drop in November to weigh the markets down to a lower open with the Dow falling 39 points to 11,941. Nasdaq lost 10 points to 2707.

On the upside

The Food and Drug Administration granted orphan drug status to BioSante Pharmaceuticals' (Nasdaq: BPAX) skin cancer vaccine.

Corning (NYSE: GLW) reported sharply higher fourth quarter earnings due to strong sales of its specialty materials unit which includes the exceptionally strong, damage resistant Gorilla glass.

Fourth quarter earnings for Baker Hughes (NYSE: BHI) tripled to surpass analyst estimates by a wide margin.

On the downside

Tellabs (Nasdaq: TLABS) disappointed by swinging to a loss for the fourth quarter as expenses climbed and the telecommunications equipment maker forecast first quarter revenue that fell short of analyst expectations.The International Trade Commission determined that Eastman Kodak's (NYSE: EK) patent infringement claim against Apple (Nasdaq: AAPL) and Research in Motion (Nasdaq: RIMM) was invalid.

Fourth quarter earnings for VMware (Nasdaq: VMW) doubled to top analyst estimates but the company warned that margins will not expand this year.In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points 775.




Higher Close As Oil Prices Drop

|

The markets closed higher with the Dow surging 108 points to 11,980 as crude oil prices dropped. Nasdaq soared 28 points to 2717.

On the upside

China-Biotics (Nasdaq: CHBT) reported higher preliminary third quarter revenue.

Molycorp (NYSE: MCP) will raise capital through a stock offering to expand its Mountain Pass mine.

Puget Sound Energy awarded Quanta Services (NYSE: PWR) a five year contract valued at approximately $400 million for construction and maintenance services.

On the downside

BankAtlantic (NYSE: BBX) announced Friday after market close that it will close its branch in Miami Lakes.Standard & Poor's may change its ratings for bond insurers sending shares of Assured Guaranty (NYSE: AGO) tumbling.

Three financial institutions in the southwest contracted with Fifth Third Bancorp (Nasdaq: FITB) for electronic transaction processing services but the stock price slipped.In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points 779.



Oil Prices Fall, Markets Climb

|

Falling crude oil prices lifted the markets higher during the midday with the Dow soaring 99 points to 11,970. Nasdaq climbed 26 points to 2715.

On the upside

Barron's wrote that Nvidia (Nasdaq: NVDA) had the potential to leap 80% in 2011.

J. C. Penney (NYSE: JCP) added hedge fund manager William A. Ackman and real estate executive Steven Roth to its board. The department store operator also announced plans to shutter underperforming locations.

Level 3 Communications (Nasdaq: LVLT) will exchange its convertible senior discount notes.

On the downside

On Friday after market close, World Wrestling Entertainment (NYSE: WWE) forecast fourth quarter results that fell short of expectations.Philips Electronics (NYSE: PHG) blamed weakness in Europe for fourth quarter results that missed estimates.

Bank of America (NYSE: BAC) announced a new campaign targeting clients with between $50,000 to $250,000 in investable assets but the stock price fell.In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points 780.


Corporate consolidations lifted the markets to a higher open with the Dow gaining 46 points to 11,918. Nasdaq rose 7 points to 2696.

On the upside

Rock-Tenn (NYSE: RKT) will pay approximately $3.5 billion in cash and stock to acquire Smurfit-Stone Container (NYSE: SSCC).

Genoptix (NYSE: GXDX) will be acquired by Novartis (NYSE: NVS) for approximately $470 million in cash.

The Food and Drug Administration approved Clinical Data's (Nasdaq: CLDA) major depression treatment Viibryd.

On the downside

RadioShack (NYSE: RSH) chairman and chief executive Julian Day will retire on May 16. The consumer electronics retailer also forecast fourth quarter results well below analyst expectations.Robert W. Baird downgraded Omnivision (Nasdaq: OVTI) to a Neutral rating.

British outsourcing company Serco Group withdrew its $2 billion offer for technology and strategic consulting services provider SRA International (NYSE: SRX).In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 773.

It was a mixed close for the markets with the Dow rising 49 points to 11,871 as investors digested corporate earnings news. Nasdaq fell 14 points to 2689.

On the upside

SunTrust Banks (NYSE: STI) reversed year ago losses to post a better than expected profit for the fourth quarter.

Tempur-Pedic (NYSE: TPX) reported higher fourth quarter earnings that topped estimates as sales climbed.

Online Resources (Nasdaq: ORCC) received several unsolicited acquisition offers.

On the downside

Emulex (NYSE: ELX) disappointed by swinging to a loss for the second quarter.Wipro (NYSE: WIT) reported higher third quarter earnings but two leaders of the company's information technology unit resigned because the results were below the profit growth of competitors.

Second quarter earnings more than doubled to top estimates for Applied Industrial Technologies (NYSE: AIT) and the compay lifted its 2011 full year guidance again but the stock price dropped.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 a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 773.


Mixed Markets Over Mixed Earnings

|

The markets traded mixed during the midday with the Dow rising 54 points to 11,877 over mixed earnings news. Nasdaq slipped 4 points to 2699.

On the upside

Fourth quarter earnings for Polycom (Nasdaq: PLCM) leaped to top analyst estimates.

Intuitive Surgical (Nasdaq: ISRG) reported sharply higher fourth quarter earnings that surpassed expectations as revenue climbed.

Pep Boys-Manny, Moe & Jack (NYSE: PBY) retained the services of Bank of America to explore strategic options including the possible sale of the company.

On the downside

Advanced Micro Devices (NYSE: AMD) disappointed with lower fourth quarter income.First Horizon National (NYSE: FHN) narrowed losses for the fourth quarter but the results still fell short of expectations.

Second quarter earnings rose for Synaptics (Nasdaq: SYNA) touchpad sales fell prompting a downgrade.In the broad market, advancing issues outpaced decliners by a margin of  3 to 2 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 775.

Higher Open Over Upbeat Earnings

|

Upbeat earnings lifted the markets to a higher open with the Dow gaining 50 points to 11,873. Nasdaq rose 7 points to 2711.

On the upside

People's United Financial will acquire Danvers Bancorp (Nasdaq: DNBK) in a cash and stock deal valued at approximately $493 million.

General Electric (NYSE: GE) impressed with sharply higher fourth quarter earnings that topped analyst estimates.

Fourth quarter earnings rose for BB&T (NYSE: BBT) to beat expectations.

On the downside

The Committee for Medical Products for Human Use will not recommend approval of the multiple sclerosis treatment Famprya, which was developed by Acorda Therapeutics (Nasdaq: ACOR), for use in the European Union.The Food and Drug Administration requested that Vivus (Nasdaq: VVUS) analyze trial data concerning possible birth defects linked to an ingredient of the experimental obesity treatment Qnexa.

Jones Group (NYSE: JNY) issued preliminary fourth quarter results that missed expectations and warned of lower gross margins.In the broad market, advancing issues outpaced decliners by a margin of more than 8 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 781.

















The markets closed modestly lower with the Dow slipping 2 points to 11,822 despite a greater than expected drop in jobless claims over concerns that China may raise interest rates. Nasdaq dropped 21 points to 2704.

On the upside

Although fourth quarter earnings slipped more than expected for Knight Capital Group (Nasdaq: KCG), revenue topped analyst estimates.

The New York Times (NYSE: NYT) announced that its online subscription will be less than $20 per month.

Raymond James Financial (NYSE: RJF) reported sharply higher first quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

Second quarter earnings for Parker Hannifin (NYSE: PH) more than doubled but profit margins fell.Volt Information Sciences (NYSE: VOL) will not file its annual report by the extended deadline of February 1, 2011.

Kandi Technologies (Nasdaq: KNDI) will host "Test Drive Days" for its new electric vehicles in Jinhua City, China but the stock price fell.In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 778.
















A possible interest rate increase in China weighed the markets down during the midday with the Dow losing 25 points to 11,799. Nasdaq tumbled 25 points to 2699.

On the upside

Biolase Technology (Nasdaq: BLTI) expects to post a profit for the fourth quarter.

Perrigo (Nasdaq: PRGO) will pay approximately $540 million to acquire generic drug company Paddock Laboratories.

Fourth quarter earnings rose for ITT Educational Services (NYSE: ESI) to surpass analyst expectations.

On the downside

Piper Jaffray downgraded Rackspace Hosting (NYSE: RAX) to a Neutral rating.Aastrom Biosciences (Nasdaq: ASTM) reviewed results from two clinical studies and announced plans to conduct two Phase 3 trials but the stock price fell.

Westell Technologies (Nasdaq: WSTL) reported higher third quarter earnings but the stock price fell.In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 779.















Despite a greater than expected drop in initial applications for unemployment benefits, the markets opened lower with the Dow falling 43 points to 11,782. Nasdaq dropped 18 points to 2706.

On the upside

Wendy's/Arby's (NYSE: WEN) retained the services of UBS to explore the possible sale of Arby's.

Fourth quarter earnings fell for eBay (Nasdaq: EBAY) but the results topped analyst estimates.

Dillard's (NYSE: DDS) announced that it will form a real estate investment trust subsidiary.

On the downside

The Food and Drug Administration refused to approve Mannkind's (Nasdaq: MNKD) inhaled insulin Afrezza and requested additional studies of the diabetes treatment.F5 Networks (Nasdaq: FFIV) reported higher first quarter earnings and revenue but revenue fell short of expectations.

Isle of Capri Casinos (Nasdaq: ISLE) priced its offering of 5.3 million common shares at $10.25 per share.In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 782.














It was a lower close for the markets with the Dow slipping 12 points to 11,825 over disappointing earnings. Nasdaq tumbled 40 points to 2725.

On the upside

Athersys (Nasdaq: ATHX) reported improvements in rodents using the company's MultiStem program for spinal cord injury.

Oppenheimer initiated coverage of Bitauto Holdings (NYSE: BITA) with an Outperform rating.

Oracle (Nasdaq: ORCL) may sell the Sun Microsystems campus in Menlo Park for approximately $100 million.

On the downside

Craig-Hallum Capital Group raised concerns that LodgeNet Interactive's (Nasdaq: LNET) earnings may be negatively impacted by a client's decision to restrict assess to mature content.Magnum Hunter Resources (Nasdaq: MHR) will acquire NuLoch Resourses in an all stock deal valued at approximately $327 million.

Fourth quarter earnings dropped for Hudson City Bancorp (NYSE: HCBK) due to low mortgage interest rates and the company warned that low interest rates will continue to impact earnings.In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 786.













Stocks Lower As Earnings Disappoint

|

The markets traded lower during the midday with the Dow losing 13 points to 11,824 as earnings disappointed. Nasdaq dropped 31 points to 2734.

On the upside

MLV Capital upgraded Icagen (Nasdaq: ICGN) to a Buy rating.

Collins Stewart upgraded Comcast (Nasdaq: CMCSA) to a Buy rating.

An online survey by Business Pulse indicated that many readers planned to purchase the Verizon (NYSE: VZ) iPhone (Nasdaq: AAPL).

On the downside

Majesco Entertainment (NYSE: COOL) posted a fourth quarter loss as revenue slipped.Shares of Depomed (Nasdaq: DEPO) continued falling after Abbott Laboratories (NYSE: ABT) said that it will not market Depomed's neuropathic pain treatment DM-1796.

MGIC Investment (NYSE: MTG) disappointed with a much wider than expected loss for the fourth quarter.In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 793.












Disappointing earnings among financial stocks weighed the markets down to a lower open with the Dow slipping 7 points to 11,830 while Nasdaq dropped 20 points to 2745.

On the upside

Shares of Ener1 (Nasdaq: HEV) continued rising after announcing yesterday a partnership with Wanxiang Electric Vehicle to make batteries for China.

Fourth quarter earnings nearly doubled for Adtran (Nasdaq: ADTN) as revenue soared.

Reports that Germany was exploring the possibility of restructuring Greek debt lifted shares of National Bank of Greece (NYSE: NBG).

On the downside

Second quarter earnings rose for Cree (Nasdaq: CREE) but the results fell short of expectations.Hudson City Bancorp (Nasdaq: HCBK) disappointed with lower fourth quarter earnings.

Cargill will sell its 64% stake in Mosaic (NYSE: MOS) on the secondary market.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 dropped 6 points to 801.











Upbeat earnings lifted the markets to a modestly higher close with the Dow gaining 50 points to 11,837. Nasdaq climbed 10 points to 2765.

On the upside

Datalink (Nasdaq: DTLK) raised its fourth quarter outlook citing strong demand.

Credit Suisse upgraded Total System Services (NYSE: TSS) to an Outperform rating.

Longbow upgraded Arrow Electronics (NYSE: ARW) to a Buy rating.

On the downside

L&L Energy (Nasdaq: LLEN) named David Lin to the position of acting chief financial officer replacing Rosemary Wang.

Goldman Sachs and Piper Jaffray initiated coverage of Youku.com (NYSE: YOKU) with a Neutral rating.

Depomed (Nasdaq: DEPO) will resolve a license agreement dispute with Abbott Products through mediation.In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 5 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 807.










Markets Advance At Midday

|

The markets traded higher during the midday with the Dow climbing 60 points to 11,847 as investors await more earnings releases. Nasdaq rose 4 points to 2759.

On the upside

Ener1 (Nasdaq: HEV) entered a joint venture with Wanxiang Electriv Vehicle to manufacture Li-ion cells and battery packs fo China.

Speculation that Germany may lower feed-in tariffs lifter shares of LDK Solar (NYSE: LDK), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE).

Longbow upgraded Avnet (NYSE: AVT) to a Buy rating.

On the downside

Delta Air Lines (NYSE: DAL) reversed year ago losses to post a profit for the fourth quarter but the results fell short of expectations and the company warned that rising fuel costs will negatively impact 2011 earnings.

McMoRan Exploration (NYSE: MMR) disappointed by widening fourth quarter losses.

E-commerce China Dangdang's chief executive (NYSE: DANG) criticized Morgan Stanley and engaged in a war of words on Sunday with another user of a microblogging service.In the broad market, advancing issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancer by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 804.









Mixed Open Over Mixed Earnings

|

The markets opened mixed with the Dow gaining 48 points to 11,835 while Nasdaq slipped 3 points to 2751 over mixed corporate earnings reports.

On the upside

Regional bank Sterling Bancshares (NYSE: SBIB) agreed to be acquired by Comerica (NYSE: CMA) in an all stock deal valued at approximately $1.03 billion.

Ariad Pharmaceuticals (Nasdaq: ARIA) reported positive results from a late stage clinical trial of its bone sarcoma treatment ridaforolimus.

Pluristem Therapeutics (Nasdaq: PSTI) will proceed with a joint Food and Drug Administration and European Medical Agencies advanced clinical study of its peripheral artery disease treatment PLX-PAD.

On the downside

The Food and Drug Administration issued a Complete Response Letter to Alexza Pharmaceuticals (Nasdaq: ALXA) for its treatment of agitation in schizphrenia or bipolar disorder patients AZ-004.

Borders (NYSE: BGP) eliminated 45 positions at its corporate headquarters.

Citigroup (NYSE: C) reversed year ago losses to post a profit for the fourth quarter but the results fell far short of analyst expectations.In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 802.








U. S. Markets Closed

|
U. S. markets are closed in observance of the Martin Luther King Jr. holiday.

A modest gain in consumer prices lifted the markets to a higher close with the Dow gaining 55 points to 11,787. Nasdaq climbed 20 points to 2755.

On the upside

Seeking Alpha contributor William Mack expects 2011 to be profitable for the homebuilding industry lifting shares of Hovnanian Enterprises (NYSE: HOV).

Webster Financial (NYSE: WBS) reversed year ago losses to post a better than expected profit for the fourth quarter.

Sify Technologies (Nasdaq: SIFY) will report third quarter results on Friday, January 21.

On the downside

FBR cited valuation concerns for downgrading Walter Energy (NYSE: WLT).

Bloomberg reported that Molycorp (NYSE: MCP) applied for federal loan guarantees to develop rare earth mining and manufacturing efforts.

Shares of International Coal (NYSE: ICO) fell after the Environmental Protection Agency revoked a permit at a West Virgina mountaintop removal mine.In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a margin of more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 807.







Boston Federal Reserve Bank President Eric Rosengren affirmed the bond purchases last year by the Fed and said that the economy may need another round of stimulus spending. The markets traded higher during the midday with the Dow rising 56 points to 11,788 while Nasdaq gained 14 points to 2749.

On the upside

Piper Jaffray analyst Gus Richard expects Nanometrics (Nasdaq: NANO) to benefits as chip makers increase capital spending.

Shares of Novellus Systems (Nasdaq: NVLS) surged after Intel (NYSE: INTC) announced capital expenditures of $9 billion in 2011.

The Food and Drug Administration approved Cumberland Pharmaceuticals' (Nasdaq: CPIX) acetaminophen poisoning treatment Acetadote after market close yesterday.

On the downside

FBR Capital downgraded Patriot Coal (NYSE: PCX) to a Market Perform rating.

Alpha Natural Resources (NYSE: ANR) raised its coal shipment forecast for 2011 but it also expects the cost of coal sales to increase.

The Treasury Department said that American International Group (NYSE: AIG) has repaid $47 billion to the government and is on schedule to complete payments for the $182 billion in bailout funds that it received.In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by a margin of 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 805.






December retail sales rose by a less than expected 0.6% to weigh the markets down to a lower open with the Dow slipping 5 points to 11,726. Nasdaq eased a point to 2733.

On the upside

RBC Capital Markets upgraded Corinthian Colleges (Nasdaq: COCO) to an Outperform rating.

Wedbush Securities analyst Liana Moussatos said yesterday that Biodel's (Nasdaq: BIOD) fast acting insulin product Linjeta is a potential blockbuster.

Majesco Entertainment (Nasdaq: COOL) launched the free game Cooking Mama Friends' Cafe for Facebook yesterday.

On the downside

Coinstar (Nasdaq: CSTR) blamed a twenty-eight day release delay on certain film titles at its Redbox movie rental kiosks for lowering its fourth quarter guidance.

Local.com (Nasdaq: LOCM) priced its offering of 4 million common shares at $4.25 per share.

Stifel Nicolaus downgraded JA Solar (Nasdaq: DELL) to a Sell rating saying that falling solar prices will negatively impact earnings.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 a margin of more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 801.





Lower Close As Jobless Claims Rise

|

Rising jobless claims and wholesale prices weighed the markets down to a lower close with the Dow losing 23 points to 11,731. Nasdaq slipped 2 points to 2735.

On the upside

RBC Capital Markets lifted its price target on ARM Holdings (Nasdaq: ARMH).

TTM Technologies (Nasdaq: TTMI) lifted its fourth quarter guidance well above analyst estimates due to increasing demand.

China MediaExpress Holdings (Nasdaq: CCME) signed three new long-term advertising contracts.

On the downside

MSCI (NYSE: MSCI) reported higher fourth quarter earnings but warned of slowing margin growth.

Shares of Goodyear Tire & Rubber (NYSE: GT) fell as natural rubber prices continued soaring.

Dell (Nasdaq: DELL) announced that Steve Shuckenbrock will replace Peter Altabef as president of services.In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a margin of 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 800.




The markets traded mixed during the midday with the Dow slipping 22 points to 11,733 as rising food and energy costs lifted wholesale prices in December. Nasdaq added a point to 2738.

On the upside

Biodel (Nasdaq: BIOD) presented a corporate update including developments of its rapid acting insulin product Linjeta at the J. P. Morgan Healthcare Conference this morning.

Fourth quarter revenue for SAP (NYSE: SAP) surged to surpass analyst expectations.

First quarter earnings and revenue surged for EXFO (Nasdaq: EXFO) to beat estimates.

On the downside

An analyst said that Tenaris (NYSE: TS) trimmed its fourth quarter outlook.

BioCryst Pharmaceuticals (Nasdaq: BCRX) requested changes to a late stage clinical trial of its influenza treatment peramivir.

Infosys Technologies (Nasdaq: INFY) reported higher third quarter earnings but warned of slowing growth as the economic recovery slows.In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 802.



Initial applications for unemployment benefits rose last week to weigh the markets down to a lower open with the Dow losing 27 points to 11,728. Nasdaq eased a point to 2735.

On the upside

Marathon Oil (NYSE: MRO) will spin off it refining business, which will be called Marathon Petroleum.

MarketWatch listed Curis (Nasdaq: CRIS) as one of five biotech stocks to own.

Spain successfully sold approximately 3 billion euros worth of  five-year bonds to lift shares of Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) and Banco Santander (NYSE: STD) higher.

On the downside

SemiLEDs (Nasdaq: LEDS) reported sharply higher first quarter earnings as revenue surged but the company warned that pricing pressures will negatively impact second quarter results.

Merck (NYSE: MRK) cited safety concerns for halting one clinical trial of its blood thinner vorapaxar and changing a second study.

DragonWave (NYSE: DRWI) disappointed with a loss for the third quarter and forecast fourth quarter revenue well below expectations.In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 800.


A narrowing of the nation's trade deficit in December lifted the markets to a higher close with the Dow climbing 83 points to 11,755. Nasdaq gained 20 points to 2737.

On the upside

Active Power (Nasdaq: ACPW) will provide power conditioning and protection for the 2011 Nordic World Ski Championships with its PowerHouse solution system.

Affymetrix (Nasdaq: AFFX) announced that it will post a fourth quarter profit and that it signed a distribution agreement across the United States and Canada with Thermo Fisher Scientific for its GeneAtlas system.

Fourth quarter earnings slipped for H. B. Fuller (NYSE: FUL) but the results topped analyst estimates.

On the downside

Wedbush Morgan downgraded Thoratec (Nasdaq: THOR).

The Food and Drug Administration delayed ruling on KV Pharmaceutical's (NYSE: KV-A) preterm birth treatment Gestiva and instead requested additional data.

Although Las Vegas Sands (NYSE: LVS) appealed Macau's rejection of its application to develop land sites 7 and 8 along the Cotai strip, chief executive Sheldon Adelson said that he was not interested in investing in those two sites.In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 801.

The markets extended its gains during the midday with the Dow soaring 89 points to 11,760 after the Federal Reserve reported that the nation ended 2010 with a stronger economy. Nasdaq climbed 18 points to 2735.

On the upside

The Food and Drug Administration determined that Strategic Diagnostics' (Nasdaq: SDIX) RapidChek SELECT Salmonella Enteritidis test system was equivalent to current standard methods for pooled egg testing without a 96-hour hold period.

Cinco Dias reported that Banco Santander (NYSE: STD) will raise approximately $300 million through the sale of a 1.91% stake in its Chilean business.

The Wet Seal (NYSE: WTSLA) hired former American Eagle Outfitters (Nasdaq: AEO) executive Susan P. McGalla to be the women's apparel retailer's new chief executive.

Lululemon Athletica (Nasdaq: LULU) cited better than expected revenue for lifting its fourth quarter outlook above analyst estimates.

Spirit AeroSystems (NYSE: SPR) settled claims related to work on Boeing's (NYSE: BA) 787 Dreamliner airliner.

Nvidia (Nasdaq: NVDA) won a $1.5 billion settlement from Intel (NYSE: INTC) in a patent infringement dispute.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 800.







A successful bond auction in Portugal eased debt concerns to lift the markets to a higher open with the Dow climbing 75 points to 11,747. Nasdaq gained 11 points to 2728.

On the upside

Same store sales soared 8.5% for Zale (NYSE: ZLC) during the holiday shopping season.

ITT (NYSE: ITT) announced plans to spin off its water pump business and its defense unit.

China Direct Industries (Nasdaq: CDII) received new purchase contracts valued at approximately $31 million for its magnesium segment.

On the downside

LeapFrog (NYSE: LF) cited softening demand for forecasting 2010 results below analyst expectations.

Arch Coal (NYSE: ACI) lowered its full year guidance.

UBS downgraded AK Steel Holding (NYSE: AKS) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 799.






Upbeat earnings lifted the markets to a modestly higher close with the Dow climbing 34 points to 11,671. Nasdaq gained 9 points to 2716.

On the upside

An appeals court in New York ruled that MBIA's (NYSE: MBI) restructuring plan was legally valid.

OCZ Technology Group (Nasdaq: OCZ) widened third quarter losses due to charges but revenue soared.

NASA Goddard Space Flight Center awarded EMCORE (Nasdaq: EMKR) a contract valued at approximately $10 million to provide solar panels for the Magnetospheric Multiscale mission.

On the downside

UBS downgraded American Airlines parent AMR (NYSE: AMR) citing the ongoing dispute between the airliner and online travel sites.

Gaming revenue along the Las Vegas Strip dropped 4.1% in November to weigh down shares of Las Vegas Sands (NYSE: LVS) and Boyd Gaming (NYSE: BYD).

Tuesday Morning (Nasdaq: TUES) disappointed with lower second quarter earnings as same store sales dropped.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 794.





The markets traded modestly higher during the midday with the Dow gaining 12 points to 11,650 as earnings season began. Nasdaq added a point to 2708.

On the upside

Deutsche Bank upgraded Coeur d'Alene Mines (NYSE: CDE) to a Buy rating.

Deutsche Bank initiated coverage of Patriot Coal (NYSE: PCX) with a Buy rating.

Stryker (NYSE: SYK) reported higher fourth quarter revenue that beat analyst expectations and forecast full year results ahead of estimates.

On the downside

Cheesecake Factory (Nasdaq: CAKE) reported preliminary fourth quarter revenue that fell short of analyst expectations.

ClickSoftware Technologies (Nasdaq: CKSW) warned that fourth quarter results will fall short of estimates.

Constar International (Nasdaq: CNST) will restructure the company in order to improve its balance sheet.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 795.




Despite a slip in November wholesale inventories, the markets opened higher with the Dow rising 47 points to 11,685. Nasdaq gained 7 points to 2715.

On the upside

Fourth quarter earnings slipped for Lennar (NYSE: LEN) but the results surpassed analyst estimates as margins improved.

Apollo Group (Nasdaq: APOL) reported lower earnings for the first quarter but the results beat expectations.

The Sunday Business Post reported that Governor and Company of The Bank of Ireland (NYSE: IRE).

On the downside

Talbots (NYSE: TLB) blamed disappointing holiday sales for slashing its outlook for the fourth quarter.

Supervalu (NYSE: SVU) swung to a wider than expected loss for the fourth quarter and lowered its 2011 guidance.

Advanced Micro Devices (NYSE: AMD) announced the immediate resignation of chief executive Dirk Meyer after market close yesterday and appointed senior vice president and chief financial officer Thomas Seifert as interim chief executive.

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 added 2 points to 793.



The markets closed mixed with the Dow losing 37 points to 11,637 over reports that Portugal was seeking assistance for its financial crisis. Nasdaq added 4 points to 2707.

On the upside

Zacks analyst Tracey Ryniec wrote that Huntsman (NYSE: HUN) earnings surged more than 100% in 2010 and 2011 earnings should experience double digit growth.

American Axle & Manufacturing (NYSE: AXL) announced on Friday that it assumed full ownership of the AAM Sona Axle Private Limited Joint Venture in Pantnagar, India.

MAKO Surgical (Nasdaq: MAKO) reported that thirteen RIO systems were sold in the fourth quarter raising the total number of RIO systems installed nationwide to sixty seven.

On the downside

A. M. Best downgraded the outlook of commercial insurers to Negative sparking concerns that American International Group (NYSE: AIG) may be downgraded.

iGATE (Nasdaq: IGTE) will pay approximately $1.2 billion to acquire a majority stake in Indian technology services firm Patni Computer Systems.

Wunderlich downgraded Quantum (NYSE: QTM) to a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased rose 3 points to 791.


A rise in oil prices after BP shut down an Alaskan pipeline weighed down the markets during the midday with the Dow losing 47 points to 11,627. Nasdaq slipped 5 points to 2697.

On the upside

Acadia Pharmaceuticals (Nasdaq: ACAD) announced a private placement with institutional investors to raise $15 million.

A report said that 2011 will be a "transformative year" for Aastrom Biosciences (Nasdaq: ASTM).

Auxilium (Nasdaq: AUXL) reported preliminary fourth quarter results that rose to top analyst expectations.

On the downside

Acuity Brands (NYSE: AYI) reported higher first quarter earnings but the results fell short of expectations.

Microsoft (Nasdaq: MSFT) announced that the Servers and Tools Business leader Bob Muglia will depart from the firm in summer 2011.

Duke Energy (NYSE: DUK) will pay approximately $13.7 billion in stock to acquire Progress Energy.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 786.

Reports that Portugal may need a bailout sent the markets down to a lower open with the Dow falling 62 points to 11,612. Nasdaq lost 11 points to 2691.

On the upside

Standard Microsystems (Nasdaq: SMSC)  will pay approximately $284 million including the assumption of debt to acquire Conexant Systems (Nasdaq: CNXT).

Playboy (NYSE: PLA) will be taken private for $6.15 per share by founder Hugh Hefner.

LDK Solar (NYSE: LDK) increased it fourth quarter and 2011 full year revenue guidance above analyst expectations.

On the downside

Strayer Education (Nasdaq: STRA) reported on Friday after market close that new student enrollment for the current school year plunged 20%.

FBR Capital Markets and Credit Suisse downgraded RadioShack (NYSE: RSH).

A district court issued a summary judgment that PDL BioPharma's (Nasdaq: PDLI) patent infringement suit against MedImmune was invalid.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 781.


The Massachusetts Supreme Court voided two foreclosures raising the possiblity that foreclosures nationwide may be voided. The markets closed lower with the Dow losing 22 points to 11,674 while Nasdaq slipped 6 points to 2703.

On the upside

Trans1 (Nasdaq: TSON) announced that Humana will begin reimbursing for procedures using the company's pre-sacral AxiaLIF interbody fusion approach.

Investopedia listed Dean Foods (NYSE: DE) as the worst performing stock on the S&P 500 in 2010 but the stock price rose.

Robbins & Myers (NYSE: RBN) reported sharply higher first quarter earnings that more than doubled as revenue climbed.

On the downside

A fire at Canadian Natural Resources' (NYSE: CNQ) oil sands project injured four workers and stopped all production.

Nasdaq informed Hauppauge Digital (Nasdaq: HAUP) that the company was out of compliance with the minimum stockholders' equity requirement of $10 million.

Morgan Stanley downgraded Jones Apparel (NYSE: JNY) to an Underweight rating.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 787.

Fewer than expected jobs were added in December to weigh the markets down during the midday with the Dow falling 57 points to 11,640. Nasdaq lost 18 points to 2690.

On the upside

Affymax (Nasdaq: AFFY) named president and chief operating officer John Orwin to replace chief executive Arlene Morris on February 1.

Hawaiian Electric (NYSE: HE) signed an agreement with Aina Koa Pono to provide sustainable local biofuels for generating electricity in Hawaii.

Capstone Turbine (Nasdaq: CPST) received a follow-on order from a large independent oil and gas company in South Texas for an additional six megawatts.

On the downside

A midstage clinical trial of XOMA's (Nasdaq: XOMA) diabetes treatment indicated that hemoglobin A1c levels decreased less than expected.

Goldman Sachs downgraded AK Steel Holding (NYSE: AKS) to a Sell rating.

Supervalu (NYSE: SVU) named Janel Haugarth to the position of executive vice president of merchandising, replacing Steve Jungmann.

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 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 781.


The nation's unemployment rate fell to 9.4% to lift the markets to a modestly higher open with the Dow rising 8 points to 11,705. Nasdaq edged up a fraction to 2710.

On the upside

MGM Resorts (NYSE: MGM) said that revenue was rebounding with convention business poised to surge at least 30% in the first quarter.

Openheimer upgraded Kulicke & Soffa Industries (Nasdaq: KLIC) to an Outperform rating, lifted its fiscal 2010 and fiscal 2011 outlooks, and increased its price target to $11.

KB Home (NYSE: KBH) surprised analysts with a profit for the fourth quarter.

On the downside

StemCells (Nasdaq: STEM) will sell 10 million common shares to institutional investors at the discounted price of $1 per share.

Liz Claiborne (NYSE: LIZ) blamed disappointing December sales for slashing its guidance for the second half of the fiscal year.

Local.com (Nasdaq: LOCM) lowered its guidance for the fourth quarter saying that revenue from client Yahoo (Nasdaq: YHOO) dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and while decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 792.

The markets closed mixed with the Dow losing 25 points to 11,697 as more people filed unemployment claims last week. Nasdaq rose 7 points to 2709.

On the upside

Nvidia's (Nasdaq: NVDA) Tegra 2 mobile superchip will power tablets and smartphones to run on high speed 4G networks.

Moody's (NYSE: MCO) lifted its fourth quarter earnings and revenue outlook.

RBC Capital Markets upgraded Elan (NYSE: ELN) to a Sector Perform rating.

On the downside

Qiao Xing Universal Resources (Nasdaq: XING) announced that it will exchange 1.9 shares of its common stock for each outstanding share of its subsidiary Qiao Xing Mobile (NYSE: QXM) in order to take Qiao Xing Mobile private.

Net subscriber additions in the fourth quarter dropped 6% for MetroPCS (NYSE: PCS).

Same store holiday sales for GameStop (NYSE: GME) rose by a smaller than expected 3.4%.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 791.


The markets traded mixed during the midday with the Dow falling 45 points to 11,677 due to disappointing December retail sales. Nasdaq added 2 points to 2705.

On the upside

Valeant Pharmaceuticals (NYSE: VRX) forecast fourth quarter results ahead of analyst estimates.

American Eagle Outfitters (NYSE: AEO) trimmed its fourth quarter outlook after December same store sales tumbled 11% but the stock price rose.

The TJX Companies (NYSE: TJX) raised its fourth quarter outlook to top analyst estimates after December same store sales climbed 2%.

On the downside

Pacific Sunwear of California (Nasdaq: PSUN) slashed its guidance for the fourth quarter as quarter-to-date same store sales dropped.

While December same store sales edged up 0.9% for Target (NYSE: TGT), the gain fell far short of analyst expectations.

Constellation Brands (NYSE: STZ) reported sharply higher third quarter earnings but revenue slipped.

In the broad market, declining issues outpaced advancers 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 eased a point to 793.

The markets opened modestly higher with the Dow adding 8 points to 11,731 even as retail sales disappointed and jobless claims rose. Nasdaq gained 6 points to 2708.

On the upside

Lexicon Pharmaceuticals (Nasdaq: LXRX) reported positive results from a clinical trial of its type 2 diabetes treatment LX4211.

Hauppauge Digital (Nasdaq: HAUP) introduced a new digital TV receiver for laptops and netbooks, a high definition video recorder for game consoles and televisions, and a TV tuner for the Apple (Nasdaq: AAPL) iPad, iPhone and iPod touch.

Amarin (Nasdaq: AMRN) priced its public offering of 12 million American Depositary Shares at $7.60 per ADS.

On the downside

The Wet Seal (Nasdaq: WTSLA) reported a 2.1% drop in same store sales for December.

Quidel (Nasdaq: QDEL) blamed a decrease in influenza product sales for warning of a sharp 52% drop in revenue for the fourth quarter.

Same store sales for Gap (NYSE: GPS) unexpectedly tumbled 3% in December.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 793.


Higher Close As Hiring Jumps

|

A sharp jump in December hiring lifted the markets to a higher close with the Dow rising 31 points to 11,722. Nasdaq gained 20 points to 2702.

On the upside

Wedbush Morgan upgraded NCR (NYSE: NCR) to an Outperform rating.

Barclays Capital upgraded Boyd Gaming (NYSE: BYD) to an Overweight rating.

Cowen and Co. upgraded Lumber Liquidators (NYSE: LL) to an Outperform rating.

On the downside

J Capital wrote that China Green Agriculture (NYSE: CGA) greatly inflated its revenue and earnings in its financial reports.

Nordion (NYSE: NDZ) extended its contract to supply Lantheus Medical Imaging with Molybdenum-99 but the stock price fell.

Investors locked in profits on XOMA (Nasdaq: XOMA).

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 795.

Hiring in December surged unexpectedly to lift the markets higher during the midday with the Dow rising 32 points to 11,723. Nasdaq gained 13 points to 2694.

On the upside

Glu Mobile (Nasdaq: GLUU) partnered with Nvidia (Nasdaq: NVDA) to develop games for the Android platform.

Zalicus (Nasdaq: ZLCS) president and chief executive Mark H.N. Corrigan, MD will present at the Biotech Showcase 2011 Conference in San Francisco.

Dow Jones Newswires reported that American International Group (NYSE: AIG) may sell its Taiwan insurance unit Nan Shan Life Insurance for up to $3 billion.

On the downside

Trident Microsystems (Nasdaq: TRID) blamed weakness in television sales for lowering its fourth quarter revenue guidance.

Citi analysts lowered their 2010 as well as their 2011 earnings outlook for eHealth (Nasdaq: EHTH) and expects the online insurance agency to fall short in the fourth quarter.

Tasty Baking (Nasdaq: TSTY) retained the services of Janney Montgomery Scott to evaluate strategic options including the possible sale of the bakery.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 791.

Despite an unexpectedly large increase in December hiring, the markets opened mixed with the Dow losing 19 points to 11,671 while Nasdaq edged up a point to 2682.

On the upside

Qiao Xing Universal Resources (Nasdaq: XING) aquired a 34.53% interest in Chifeng Aolunhua Mining Co., which owns an open-pit copper-molybdenum mine.

Opexa Therapeutics (Nasdaq: OPXA) completed meetings with the Food and Drug Administration to advance with a Phase 3 clinical trial of its personalized T-cell therapy for multiple sclerosis patients.

Vonage (NYSE: VG) chief executive Marc Lefar will present at the Citi 21st Annual Global Entertainment, Media & Telecommunications Conference.

On the downside

First quarter earnings rose for Family Dollar Stores (NYSE: FDO) but the results fell short of expectations.

Mattson Technology (Nasdaq: MTSN) warned that fourth quarter losses will be greater than expected due to shipment delays.

Education Realty Trust (NYSE: EDR) priced its offering of 11.5 million common shares at $7.30 per share.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 788.


Mixed Close As Auto Sales Climb

|

The markets closed mixed with the Dow rising 20 points to 11,691 as rising inflation in Europe dampened enthusiasm over higher domestic auto sales. Nasdaq lost 10 points to 2681.

On the upside

The New York Times reported that Qualcomm (Nasdaq: QCOM) is finalizing plans to offer approximately $3.5 billion to acquire Atheros Communications (Nasdaq: ATHR) .

Hudson Securities and Stifel Nicolaus both initiated coverage of Motorola Mobility (NYSE: MMI), which was created when Motorola split into two companies, with Buy ratings.

Molycorp (NYSE: MCP) may double its rare earth metals output from 20,000 tons to 40,000 tons in 2012.

On the downside

Mattson Technology (Nasdaq: MTSN) reported preliminary fourth quarter revenue below previously forecast figures due to shipment delays.

A lawsuit has been filed against Interclick (Nasdaq: ICLK) for online privacy violations.

Home BancShares (Nasdaq: HOMB) warned of a significant loan loss provision of up to $65 million for the fourth quarter.

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 tumbled 12 points to 785.

Inflation climbed more than expected in Europe to weigh down domestic markets during the midday with the Dow easing a point to 11,668. Nasdaq lost 17 points to 2673.

On the upside

USA Technologies (Nasdaq: USAT) expects to report record revenue and profit for the second quarter.

MetroPCS Communications (NYSE: PCS) introduced new plans beginning at $40 for its 4G LTE handsets with no annual service contracts.

Advanced Micro Devices (NYSE: AMD) will introduce its next generation chips with advanced graphics capabilities at the Consumer Electronics Show.

On the downside

China Integrated Energy (Nasdaq: CBEH) announced a registered direct placement of more than 3.4 million common shares to raise approximately $24.17 million.

Annaly Capital Management (NYSE: NLY) will sell 75 million common shares at $17.20 per share to raise approximately $1.3 billion.

Goldman Sachs lowered its earnings outlook on Boston Scientific (NYSE: BSX) saying that the sale of its neurovascular unit will hurt revenue.

In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 783.





The markets opened mixed with the Dow adding 11 points to 11,681 while Nasdaq eased a point to 2689 as prices rose in Europe.

On the upside

XOMA (Nasdaq: XOMA) and French pharmaceutical Les Laboratoires Servier will jointly develop and commercialize XOMA's anti-inflammatory drug XOMA 052.

Deutsche Bank analyst Jorge Beristain upgraded Alcoa (NYSE: AA) to a Buy rating citing improvement in the global aluminum market.

The Daily Mail reported that Royal Dutch Shell considered acquiring BP (NYSE: BP) after the Deep Horizon oil spill last year and may make a bid in the future.

On the downside

Morgan Stanley downgraded Supervalu (NYSE: SVU) to an Underweight rating citing inflationary pressures.

A global shortage of miners could increase costs sending shares of Hecla Mining (NYSE: HL) lower.

Nvidia's (Nasdaq: NVDA) Tegra processors will power the infotainment, navigation and instrument-cluster systems in the all electric Tesla Model S sedan while Nvidia's GPUs will power navigation and vehicle-information systems in all BMWs but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 796.




A better than expected gain in construction spending lifted the markets sharply higher on the first trading day of 2011 with the Dow climbing 93 points to 11,670. Nasdaq surged 38 points to 2691.

On the upside

Seeking Alpha contributor Michael Murphy recommended Zalicus (Nasdaq: ZLCS) as a low risk stock for 2011.

Seeking Alpha contributor Charlie Anderson wrote that a rebound in natural gas prices will lift GMX Resources (NYSE: GMXR).

Morgan Deegan analyst Robert M. Derrington upgraded Ruby Tuesday (NYSE: RT) to an Outperform rating and lifted his price target on the casual dining chain to $15.

On the downside

Janney Montgomery Scott senior research analyst John Roy, Ph.D. said in the Wall Street Transcript that FuelCell Energy (Nasdaq: FCEL) is well positioned to expand into South Korea through its partnership with Korean steel company POSCO Power (NYSE: PKX).

Piper Jaffray analyst Gus Richard downgraded Intel (Nasdaq: INTC) and lowered his price target on the chip maker to $21.50 saying that the company will fail to expand into the ultramobile smartphone and tablet market.

J. P. Morgan analyst Joseph Greff said that Las Vegas Sands' (NYSE: LVS) 16.4% of the market share in Macau was below expectations.

In the broad market, advancing issues edged out decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 798.



Upbeat Economic Data Boosts Markets

|

Upbeat economic data boosted the markets during the midday with the Dow leaping 128 points to 11,705. Nasdaq soared 42 points to 2695.

On the upside

Mortgage insurer PMI Group (NYSE: PMI) rose after Bank of America (NYSE: BAC) agreed to repurchase $3 billion worth of mortgages from Fannie Mae and Freddie Mac.

Dahlman Rose analysts lifted their price target for Molycorp (NYSE: MCP) to $85 per share saying that demand for rare earth metals will climb.

LDK Solar (NYSE: LDK) sold $240 million worth of convertible preferred stock in its wholly owned polysilicon manufacturing subsidiaries.

On the downside

EDAP TMS (Nasdaq: EDAP) issued more than 1.4 million common shares to redeem part of its convertible debt and cancel some outstanding warrants.

The Food and Drug administration granted Repros Therapeutics (Nasdaq: RPRX) Institutional Review Board approval to begin a Phase IIb clinical trial of its secondary hypogonadism treatment Androxal but the stock price fell.

Expedia (NYSE: EXPE) removed American Airlines' (NYSE: AMR) schedule and airfare from its website.

In the broad market, advancing issues edged out decliners by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 14 points to 798.


The markets opened strong on the first trading day of 2011 with the Dow soaring 106 points to 11,684 as manufacturing activity expanded and construction spending rose. Nasdaq climbed 44 points to 2697.

On the upside

China Direct Industries (Nasdaq: CDII) subsidiary CDII Trading will provide iron ore to a company in China.

Bank of America (NYSE: BAC) announced a $2 billion impairment charge and a $3 billion loan loss provision to settle mortgage claims with Freddie Mac and Fannie Mae.

Janney Capital Markets analyst David Strasser upgraded Office Depot (NYSE: ODP) to a Buy rating.

On the downside

Inspire Pharmaceuticals' (Nasdaq: ISPH) cystic fibrosis treatment denufosol tetrasodium failed a Phase III clinical trial.

Morgan Stanley downgraded DryShips (NYSE: DRYS) to an Underweight rating.

Piper Jaffray downgraded AnnTaylor (NYSE: ANN) to a Neutral rating.

In the broad market, advancing issues edged out decliners 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 soared 15 points to 798.

About this Archive

This page is an archive of entries from January 2011 listed from newest to oldest.

December 2010 is the previous archive.

February 2011 is the next archive.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12