April 2011 Archives

The markets closed modestly higher with the Dow gaining 47 points to 12,810 on upbeat earnings and economic data. Nasdaq added a point to 2873.

On the upside

Sonic (Nasdaq: SONC) reported an upward trend in sales for the third quarter.

Motorola Mobility (NYSE: MMI) narrowed first quarter losses more than expected as revenue soared.

Newpark Resources (NYSE: NR) reported higher first quarter earnings that topped analyst expectations as revenue climbed.

On the downside

Horizon Lines (NYSE: HRZ) widened first quarter losses more than expected. 

Pitney Bowes (NYSE: PBI) reported higher first quarter earnings but revenue slipped to fall short of analyst expectations.

Ingram Micro (NYSE: IM) disappointed with lower first quarter earnings that fell far short of expectations prompting downgrades.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 865.

The markets traded mixed during the midday with the Dow gaining 46 points to 12,810 despite upbeat earnings news. Nasdaq eased a point to 2870.

On the upside

First quarter earnings for Ancestry.com (Nasdaq: ACOM) more than doubled to beat analyst expectations as revenue surged and the company forecast current quarter and full year results ahead of estimates.

Higher oil prices lifted first quarter earnings for Occidental Petroleum (NYSE: OXY).

Key Energy Services (NYSE: KEG) widened first quarter losses but the results were better than expected.

On the downside

RBC Capital Markets downgraded Regeneron Pharmaceuticals (Nasdaq: REGN). 

Newell Rubbermaid (NYSE: NWL) reported higher first quarter earnings but revenue slipped to fall short of expectations.

Monster Worldwide (NYSE: MWW) reversed year ago losses to post a profit for the first quarter but the online employment site forecast second quarter income that missed expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 866.

Consumer spending rose in March as gasoline prices soared. The markets opened mixed with the Dow rising 30 points to 12,793 while Nasdaq slipped 6 points to 2866.

On the upside

Goodyear Tire & Rubber (NYSE: GT) reversed year ago losses to post a better than expected profit for the first quarter.

Total will pay a premium of $23.25 per share to acquire a majority stake in SunPower (Nasdaq: SPWRA).

Second quarter earnings surged for Skyworks Solutions (Nasdaq: SWKS) to top analyst estimates and the company forecast third quarter results ahead of expectations.

On the downside

Research In Motion (Nasdaq: RIMM) lowered its current quarter earnings outlook and warned that sales of the BlackBerry smartphone will drop. 

RAIT Financial Trust (NYSE: RAS) disappointed with sharply lower first quarter earnings.

First quarter earnings more than tripled for Crocs (Nasdaq: CROX) to beat analyst expectations as revenue surged 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 decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 861.

The markets closed higher with the Dow climbing 72 points to 12,763 even as the nation's economy expanded at a slower than expected pace in the first quarter of 2011. Nasdaq added 2 points to 2872.

On the upside

CoStar Group will pay approximately $860 million in cash and stock to acquire LoopNet (Nasdaq: LOOP).

The federal court cut the Horizon Lines'  (NYSE: HRZ) fine for antitrust violations to $15 million from $45 million.

Norfolk Southern (NYSE: NSC) reported higher first quarter earnings that topped analyst estimates.

On the downside

ARRIS Group (Nasdaq: ARRS) disappointed with lower first quarter earnings that fell short of analyst expectations and forecast second quarter result below estimates. 

Evergreen Solar (Nasdaq: ESLR) reported a sharp drop in solar panel shipments in the first quarter prompting a downgrade.

Ferro (NYSE: FOE) reversed year ago losses to post a profit for the first quarter but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 861.

The markets traded mixed during the midday with the Dow gaining 49 points to 12,740 as investors digested news that initial applications for unemployment benefits unexpectedly rose last week. Nasdaq slipped 5 points to 2864.

On the upside

Gulf Resources (Nasdaq: GFRE) disputed allegations of false SEC filings made by Glaucus Research.

First quarter earnings fell for LSI (NYSE: LSI) but the results topped analyst estimates.

Allstate (NYSE: ALL) reported first quarter earnings that surged more than four times to surpass expectations as catastrophe losses dropped.

On the downside

Teradyne (NYSE: TER) reported higher first quarter earnings as revenue rose prompting an upgrade but the stock price tumbled.

Liz Claiborne (NYSE: LIZ) widened first quarter losses more than expected as the clothing company transitioned to a licensing model for its Liz Claiborne brand.

Axcelis Technologies (Nasdaq: ACLS) reversed year ago losses to post a profit for the first quarter but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 857.

Pending home sales rose more than expected last month but the nation's economy expanded at a much slower pace in the first quarter of 2011. The markets opened mixed with the Dow rising 13 points to 12,704 while Nasdaq slipped 6 points to 2863.

On the upside

Vital Images (Nasdaq: VTAL) agreed to be acquired by Toshiba Medical Systems for approximately $273 million in cash.

Citrix (Nasdaq: CTXS) reported higher first quarter earnings that surpassed analyst expectations prompting the virtual computing solutions firm to lift its full year guidance.

First quarter earnings rose for Aetna (NYSE: AET) to top estimates prompting the health insurer to raise its outlook for the full year. The company also announced that it will acquire Prodigy Health Group for approximately $600 million.

On the downside

Akamai Technologies (Nasdaq: AKAM) reported higher first quarter earnings as revenue rose but the company forecast second quarter sales below expectations.

OfficeMax (NYSE: OMX) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations.

Eastman Kodak (NYSE: EK) swung to a wider than expected loss for the first quarter as revenue tumbled.

In the broad market, advancing issues outpaced decliners by a margin of nearly 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 added a point to 859.

The Federal Reserve trimmed its gross domestic product outlook for the year but said that the nation's unemployment rate is expected to decline. The markets closed higher with the Dow climbing 95 points to 12,690 while Nasdaq gained 22 points to 2869.

On the upside

Regeneron Pharmaceuticals (Nasdaq: REGN) and Sanofi-Aventis (NYSE: SNY) reported positive results from a late stage clinical trial of their colon cancer treatment Zaltrap.

Surging silver prices lifted shares of Silver Wheaton (NYSE: SLW), Endeavor Silver (NYSE: EXK) and First Majestic Silver (NYSE: AG).

The Centers for Medicare and Medicaid certified Genetic Technologies' (Nasdaq: GENE) Australian laboratory allowing the company to launch its BREVAGen breast cancer test.

On the downside

First quarter earnings rose for P. F. Chang's China Bistro (Nasdaq: PFCB) but the results fell short of analyst expectations.

CB Richard Ellis Group (NYSE: CBG) reversed year ago losses to post a profit for the first quarter but revenue fell short of expectations.

United States Steel (NYSE: X) narrowed first quarter losses but the loss was greater than expected prompting a downgrade.

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 gained 5 points to 858.

The markets advanced modestly during the midday with the Dow gaining 17 points to 12,612 ahead of comments about the nation's economy from Federal Reserve Chairman Ben Bernanke. Nasdaq edged up a fraction to 2847.

On the upside

Silicon Image (Nasdaq: SIMG) narrowed first quarter losses as revenue climbed prompting an upgrade.

Rite Aid (NYSE: RAD) reported that same store sales rose 0.5% in April.

Moody's (NYSE: MCO) reported sharply higher first quarter earnings that surpasses analyst expectations by a wide margin prompting the company to lift its 2011 full year guidance.

On the downside

SuccessFactors (Nasdaq: SFSF) reversed year ago losses to post a profit for the first quarter but the company forecast a breakeven second quarter.

National Oilwell Varco (NYSE: NOV) reported lower first quarter earnings.

Rockwell Automation (NYSE: ROK) reported higher second quarter earnings that topped estimates but the company warned that last month's earthquake and tsunami in Japan may negatively impact its supply chain.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 851.

The markets opened mixed with the Dow rising 7 points to 12,602 while Nasdaq slipped 2 points to 2844 as investors awaited Federal Reserve Chairman Ben Bernanke's assessment of the nation's economy.

On the upside

CenturyLink (NYSE: CTL) will acquire Savvis (Nasdaq: SVVS) in a cash and stock deal valued at approximately $2.5 billion.

First quarter earnings slipped for Corning (NYSE: GLW) but revenue soared and the results topped analyst estimates.

Ericsson (Nasdaq: ERIC) reported higher first quarter sales and income that surpassed analyst expectations.

On the downside

While Broadcom (Nasdaq: BRCM) reported first quarter earnings that beat expectations, the chip maker forecast second quarter results below estimates.

Third quarter earnings for MIPS Technologies (Nasdaq: MIPS) fell short of analyst expectations and the chip maker warned of lower fourth quarter royalty revenue.

LDK Solar (Nasdaq: LDK) lowered its first quarter revenue outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 850.

The markets closed sharply higher with the Dow surging 115 points to 12,595 on upbeat earnings. Nasdaq climbed 21 points to 2847.

On the upside

The Food and Drug Administration said that Vertex Pharmaceuticals' (Nasdaq: VRTX) experimental hepatitis C treatment telaprevir was more effective than older drugs.

W&T Offshore (NYSE: WTI) reported higher first quarter earnings as revenue climbed and the company announced that it paid approximately $366 million to acquire the West Texas Permian Basin.

Helix Energy Solutions (NYSE: HLX) reversed year ago losses to post a profit for the first quarter as revenue surged.

On the downside

Netflix (Nasdaq: NFLX) reported higher first quarter earnings that beat analyst expectations but the online movie rental subscription service forecast second quarter results below estimates prompting a downgrade.

Investors locked in profits on Travelzoo (Nasdaq: TZOO) whose shares surged after the online travel site reported record first quarter revenue last week.

Rent-A-Center (Nasdaq: RCII) disappointed with first quarter earnings that fell far short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 853.

Investors embraced earnings news to lift the markets higher during the midday with the Dow soaring 107 points to 12,587. Nasdaq climbed 19 points to 2845.

On the upside

Rediff.com India (Nasdaq: REDF) introduced its group deals service Rediff Deal Ho Jaye! in 40 cities throughout India.

First quarter earnings for Cummins (NYSE: CMI) more than doubled to beat analyst expectations as revenue surged prompting the company to lift its full year outlook.

First quarter earnings for AK Steel (NYSE: AKS) quadrupled to surpass analyst expectations.

On the downside

Under Armour (NYSE: UA) reported higher first quarter earnings that topped estimates as revenue climbed but the stock price tumbled as investors locked in profits.

Unisys (NYSE: UIS) blamed a debt reduction charge for widening first quarter losses.

Tellabs (Nasdaq: TLAB) disappointed with a loss for the first quarter and forecast second quarter results below estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 854.

Higher Open On Upbeat Earnings

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Upbeat corporate earnings lifted the markets to a higher open with the Dow gaining 66 points to 12,546. Nasdaq rose 11 points to 2837.

On the upside

SMART Modular Technologies (Nasdaq: SMOD) will be acquired by Silver Lake Partners and Silver Lake Sumeru in an all cash deal valued at approximately $645 million.

USA Technologies' (Nasdaq: USAT) ePort Connect Service for wireless, cashless point-of-sale payments expanded to include the Verizon Wireless network for connectivity.

Delta Airlines (NYSE: DAL) widened first quarter losses but the results were better than expected and the airliner reassured investors that higher fares will cover rising fuel expenses.

On the downside

Lawson Software (Nasdaq: LWSN) will be taken private by Golden Gate Capital for $11.25 per share, a discount from yesterday's closing price.

Seeking Alpha contributor Glaucus Research issued a due diligence report on Gulf Resources (Nasdaq: GFRE) asserting that shareholders own worthless stock in a shell company.

Lexmark International (NYSE: LXK) disappointed with lower first quarter earnings that fell short of expectations and forecast second quarter results below estimates.

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 gained 4 points to 848.

The markets closed mixed with the Dow losing 26 points to 12,479 as concerns that rising commodity prices will negatively impact corporate earnings tempered news that sales of new homes climbed more than expected. Nasdaq rose 5 points to 2825.

On the upside

Insider Monkey reported that a Central European Distribution (Nasdaq: CEDC) insider purchased 10,000 shares of company stock this month.

Ramtron International (Nasdaq: RMTR) swung to a first quarter loss as revenue slipped but the stock price rose.

Flagstar Bancorp (NYSE: FBC) introduced the latest version of its paperless mortgage processing system DocVelocity 3.0 with an interactive feature for multiple users.

On the downside

A Wall Street Journal article on Friday questioned the stock price of Swisher Hygiene (Nasdaq: SWSH).

C. K. Cooper downgraded Toreador Resources (Nasdaq: TRGL) to a Hold rating.

Cymer (Nasdaq: CYMI) reported higher first quarter earnings but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 842.

Rising gasoline prices weighed the markets down during the midday with the Dow slipping 32 points to 12,473. Nasdaq held steady at 2820.

On the upside

ZST Digital Networks (Nasdaq: ZSTN) denied allegations of fraud made by short-sellers.

First quarter earnings for Ultratech (Nasdaq: UTEK) surged nearly fourfold as revenue soared.

Graphic Packaging Holding (NYSE: GPK) reported sharply higher first quarter earnings that more than quadrupled.

On the downside

Avid Technology (Nasdaq: AVID) disappointed with an unexpected loss for the first quarter.

Pharmasset (Nasdaq: VRUS) blamed higher expenses for widening second quarter losses.

Arkansas Best (Nasdaq: ABFS) narrowed first quarter losses but the results fell far short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 842.

Sales of new homes rose last month but prices fell. The markets opened lower with the Dow losing 38 points to 12,467 while Nasdaq slipped a point to 2819.

On the upside

Second quarter earnings for International Game Technology (NYSE: IGT) nearly tripled to top analyst expectations as expenses dropped.

Sohu.com (Nasdaq: SOHU) reported higher first quarter earnings and announced that it will pay approximately $68.26 million to acquire a majority stake in online gaming company Shenzhen 7Road Technology.

Polycom (Nasdaq: PLCM) reported sharply higher first quarter earnings that surpassed analyst estimates as revenue surged.

On the downside

Barrick Gold (NYSE: ABX) will pay approximately $7.8 billion in cash to acquire Equinox Minerals.

Kimberly-Clark (NYSE: KMB) disappointed with lower first quarter earnings that fell short of expectations and the company dropped the low end of its full year outlook.

Citi lowered its price target on Morgan Stanley (NYSE: MS).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 843.

U. S. Markets Closed

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U. S. markets are closed in observance of Good Friday.

The markets closed higher with the Dow gaining 52 points to 12,505 as first time applications for unemployment benefits slipped. Nasdaq climbed 17 points to 2820.

On the upside

First quarter earnings for Select Comfort (Nasdaq: SCSS) more than doubled to surpass analyst expectations by a wide margin and the adjustable firmness mattress company forecast full year results ahead of estimates.

China Security & Surveillance Technology (NYSE: CSR) accepted an acquisition offer from chief executive Guoshen Tu.

Patriot Coal (NYSE: PCX) reported a wider than expected loss for the first quarter but the company announced that more than 3 million tons of steel-making coal was contracted for sale at a higher price.

On the downside

Hanmi Financial (Nasdaq: HAFC) reversed year ago losses to post a first quarter profit but total assets and deposits fell sequentially.

Upbeat Phase III trial results for Biogen's (Nasdaq: BIIB) orally administered BG-12 multiple sclerosis treatment weighed down shares of Elan (NYSE: ELN), which markets the injectable multiple sclerosis drug Tysabri.

Caris & Co. downgraded TiVo (Nasdaq: TIVO) to an Average rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 845.

Markets Advance On Upbeat Earnings

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The markets advanced during the midday with the Dow rising 39 points to 12,493 on upbeat earnings news. Nasdaq gained 15 points to 2818.

On the upside

Sallie Mae (NYSE: SLM) reported lower first quarter earnings but the results beat analyst expectations and the student loan company reinstated its quarterly dividend, which was suspended in 2007.

Shares of 21Vianet Group (Nasdaq: VNET) surged on its first trading day.

Responsys (Nasdaq: MKTG) stock soared on its initial day of trading.

On the downside

Xerox (NYSE: XRX) swung to a profit for the first quarter that topped analyst estimates but the company warned that last month's earthquake in Japan may negatively impact its business.

Seeking Alpha contributor Chimin Sang wrote that ZST Digital Networks (Nasdaq: ZSTN) provided false numbers on their financial statements.

Shares of OCZ Technology (Nasdaq: OCZ) continued falling after Copperfield Research alleged yesterday that the company reported fraudulent financial figures.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 842.

The markets opened modestly higher with the Dow adding 5 points to 12,458 as first time jobless claims slipped. Nasdaq rose 7 points to 2809.

On the upside

TradeStation Group (Nasdaq: TRAD) will be acquired for approximately $411 million by Japanese online brokerage Monex Group.

Biogen Idec (Nasdaq: BIIB) reported higher first quarter earnings as Tysabri sales climbed.

First quarter earnings climbed for UnitedHealth (NYSE: UNH) to beat analyst expectations by a wide margin prompting the company to lift its full year outlook.

On the downside

Shares of Teva (Nasdaq: TEVA) tumbled after Biogen Idec (Nasdaq: BIIB) reported upbeat results from a clinical trial of its multiple sclerosis treatment BG-12. Teva is developing its own multiple sclerosis drug Iaquinimod.

Goldman Sachs analyst Catherine Leung downgraded Sina (Nasdaq: SINA) to a Sell rating.

Weatherford International (NYSE: WFT) reversed year ago losses to post a profit for the first quarter but the results fell short of analyst expectations.

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. The Russell 2000 which tracks small cap stocks added a point to 840.

Existing home sales climbed in March to lift the markets to a sharply higher close with the Dow surging 186 points to 12,453. Nasdaq soared 57 points to 2802.

On the upside

A federal appeals court upheld a ruling in favor of TiVo (Nasdaq: TIVO) and affirmed that Dish Network (Nasdaq: DISH) infringed on TiVo's patents.

Shares of Sagent Pharmaceuticals (Nasdaq: SGNT) surged on its first trading day.

Polaris Industries (NYSE: PII) reported first quarter earnings that more than doubled to surpass analyst expectations by a wide margin and lifted its full year outlook.

On the downside

Mortgage insurers PMI Group (NYSE: PMI) and Radian Group (NYSE: RDN) both fell after MGIC Investment (NYSE: MTG) reported a wider than expected loss for the first quarter.

Brookline Bancorp (Nasdaq: BRKL) reported higher first quarter earnings and announced a $234 million cash and stock deal to acquire Bancorp Rhode Island (Nasdaq: BARI).

Wedbush downgraded Smith Micro Software (Nasdaq: SMSI) to a neutral rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 839.

Strong corporate earnings lifted the markets during the midday with the Dow soaring 170 points to 12,437. Nasdaq jumped 51 points to 2796.

On the upside

VMWare (NYSE: VMW) reported sharply higher first quarter earnings that beat analyst expectations as revenue climbed.

The Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions lifted their Cease and Desist orders on CIT Bank (NYSE: CIT).

Doral Financial (NYSE: DRL) reversed year ago losses to post a profit for the first quarter.

On the downside

MGIC Investment (NYSE: MTG) disappointed with a much wider than expected loss for the first quarter.

Although United Rentals (NYSE: URI) narrowed first quarter losses, the losses were wider than analysts expected.

Copperfield Research issued a report alleging that OCZ (Nasdaq: OCZ) committed fraud.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 836.


Rising home sales and upbeat earnings lifted the markets to a higher open with the Dow surging 189 points to 12,455. Nasdaq leaped 57 points to 2802.

On the upside

Global power company AES (NYSE: AES) will pay approximately $3.5 billion in cash to acquire regional power company DPL (NYSE: DPL).

Intel (Nasdaq: INTC) reported higher first quarter earnings that surpassed analyst expectations and the chip maker forecast second quarter results ahead of estimates.

First quarter earnings for Freeport-McMoRan Copper & Gold (NYSE: FCX) surged to beat expectations as revenue climbed.

On the downside

Wells Fargo (NYSE: WFC) reported higher first quarter earnings but new mortgage loans tumbled.

Cree (Nasdaq: CREE) disappointed with sharply lower third quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates prompting downgrades.

Juniper Networks (NYSE: JNPR) blamed higher costs for lower first quarter earnings and forecast second quarter results below estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 834.

Construction of new homes rose in March to lift the markets to a higher close with the Dow climbing 65 points to 12,266. Nasdaq gained 9 points to 2744.

On the upside

CDC (Nasdaq: CHINA) unit CDC Global Services will sponsor a one-day conference with the Zhangzhou government on "The Application of Information Technology in the Food Processing Industry."

Shares of E-Commerce China Dangdang (NYSE: DANG) climbed on news that Renren, the Facebook of China, will debut on the New York Stock Exchange on May 4.

Staples (Nasdaq: SPLS) will begin selling Barnes & Noble's (NYSE: BKS) Nook Color e-reader.

On the downside

Toreador Resources (Nasdaq: TRGL) announced the resignation of chairman Dr. Peter J. Hill.

Investors locked-in profits on Identive Group (Nasdaq: INVE), whose shares rose yesterday after announcing that the company will provide 10,000 eHealth terminals to Germany.

Badger Media (NYSE: BMI) disappointed with sharply lower first quarter earnings as sales fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE while advancers edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 823.

Upbeat earnings lifted the markets during the midday with the Dow gaining 54 points to 12,256. Nasdaq rose 4 points to 2739.

On the upside

First quarter earnings for Teck Resources (NYSE: TCK) more than doubled as coal and copper prices climbed.

Zix (Nasdaq: ZIXI) will offer secure email services to Pen Publishing clients.

Blackboard (Nasdaq: BBBB) hired Barclays Capital to evaluate unsolicited acquisition offers that the education software applications company has received.

On the downside

Investors locked in profits on Amarin (Nasdaq: AMRN), whose stock price surged yesterday on upbeat results from a Phase 3 ANCHOR trial for its AMR101.

Omnicom (NYSE: OMC) reported higher first quarter earnings and revenue that topped analyst estimates but the stock price fell.

Research in Motion (NYSE: RIMM) launched its PlayBook tablet amidst negative reviews and news that AT&T (NYSE: T) will not allow the PlayBook to tether to the AT&T BlackBerry Bold.

In the broad market, advancing issues outpaced decliners by a margin of nealry 2 to 1 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 822.

The markets opened mixed with the Dow rising 20 points to 12,222 while Nasdaq eased a point to 2733. Home construction climbed 7.2% in March.

On the upside

Johnson & Johnson (NYSE: JNJ) reported lower first quarter earnings but the results beat analyst expectations and the company lifted its 2011 outlook.

First quarter earnings fell for Novartis (NYSE: NVS) but the results were better than expected.

Zions Bancorp (Nasdaq: ZION) reversed year ago losses to post an unexpected profit for the first quarter.

On the downside

Although first quarter earnings more than tripled for Harley-Davison (NYSE: HOG), the results fell short of analyst estimates.

Peabody Energy (NYSE: BTU) reported higher first quarter earnings but revenue missed analyst expectations.

New York Community Bancorp (NYSE: NYB) disappointed with lower first quarter earnings that fell short of estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 823.

The markets closed sharply lower with the Dow plunging 140 points to 12,201 after Standard & Poor's downgraded the debt rating the United States to negative. Nasdaq dropped 29 points to 2735.

On the upside

L & L Energy (Nasdaq: LLEN) will supply Kunming Iron & Steel Group with 700,000 tons of coal.

Shares of McDonald's (NYSE: MCD) South American franchiser Arcos Dorados Holdings (NYSE: ARCO) continued climbing after making its debut on the NYSE last Thursday.

Authentidate Holding (Nasdaq: ADAT) will provide Ameri-Quipt with its Inscrybe Healthcare referral management solution.

On the downside

Shares of Cirrus Logic (Nasdaq: CRUS) continued falling after warning on Friday of lower earnings in the first and second quarters due to a production problem.

Citigroup Global Markets analyst Christian Wetherbee downgraded Genco Shipping & Trading (NYSE: GNK) to a Sell rating and cut his price target on the drybulk shipper to $8 from $13.

Citi Investment Research analyst Timothy M. Arcuri downgraded Evergreen Solar (Nasdaq: ESLR) to a Sell rating and cut his price target from $3.50 to $1.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 821.

Markets Extend Losses At Midday

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The markets extended its losses during the midday with the Dow skidding 212 points to 12,129 after Standard & Poor's downgraded the credit outlook for the United States to negative. Nasdaq plummeted 51 points to 2713.

On the upside

Chelsea Therapeutics (Nasdaq: CHTP) will file a new drug application with the Food and Drug Administration for its neurogenic orthostatic hypotension treatment Northera in the third quarter.

Shares of Thoratec (Nasdaq: THOR) rose after rival HeartWare International (Nasdaq: HTWR) reported that patients implanted with its mechanical heart assist device experienced a surprisingly high 9.2% risk of developing blood clots.

Fourth quarter earnings for Titan Machinery (Nasdaq: TITN) tripled as revenue surged.

On the downside

Search engine optimization company Sistrix reported a sharp 66% drop in traffic to Demand Media's (NYSE: DMD) eHow after Google (Nasdaq: GOOG) updated its search algorithm.

Gramercy Capital (NYSE: GKK) extended the maturity dates of its $240.5 million mortgage loan and its $549.7 million senior and junior mezzanine loans by two weeks.

Citadel Securities downgraded ViroPharma (Nasdaq: VPHM) to a neutral rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 18 points to 816.


Standard & Poor's downgraded its outlook for the United States to negative sending the markets tumbling to a sharply lower open with the Dow plummeting 193 points to 12,147. Nasdaq plunged 48 points to 2716.

On the upside

Amarin (Nasdaq: AMRN) reported positive results from a Phase 3 ANCHOR trial of its AMR101.

Identive Group (Nasdaq: INVE) unit SCM Microsystems will provide 10,000 eHealth terminals for Germany's electronic health card program.

Goldman Sachs analyst Mark Wienkes upgraded A123 (Nasdaq: AONE) to a Buy rating.

On the downside

Community Health (NYSE: CYH) revised its acquisition offer for Tenet Healthcare (NYSE: THC) to $3 billion in cash.

Hecla Mining (NYSE: HL) halted all mining operations to rescue a missing miner at its Lucky Friday mine in Northern Idaho that occured after a localized fall of ground on April 15.

Retreating silver prices weighed down shares of First Majestic Silver (NYSE: AG).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 820.

Factory production rose last month to lift the markets to a higher close with the Dow gaining 56 points to 12,341. Nasdaq added 4 points to 2764.

On the upside

MicroVision (Nasdaq: MVIS) announced yesterday the opening of a research facility at Nanyang Technological University in Singapore.

Ametek (NYSE: AME) lifted its first quarter and full year earnings outlook saying that aerospace instrument and devices orders climbed.

Citigroup added Foot Locker (NYSE: FL) to its list of Top Picks Live.

On the downside

J. P. Morgan analyst Mark Moskowitz lowered his second quarter sales estimate for the Apple (Nasdaq: AAPL) iPad citing shipping delays.

Chief executive Dan Hesse of Sprint Nextel (NYSE: S), the nation's third largest wireless network operator, said that the merger of AT&T (NYSE: T) with T-Mobile will hurt innovation.

Putnam Premier (Nasdaq: PPT) declared the distribution rates for its closed end funds.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 834.

The markets traded higher during the midday with the Dow climbing 69 points to 12,354 as factory production increased. Nasdaq rose 3 points to 2763.

On the upside

The European Medicines Agency approved Eli Lilly's (NYSE: LLY) and Amylin Pharmaceuticals' (Nasdaq: AMLN) once a week injectable type-2 diabetes treatment Bydureon.

Opexa Therapeutics (Nasdaq: OPXA) reported upbeat results from a clinical trial of its multiple sclerosis treatment Tovaxin on a naive subpopulation of patients.

Under a new strategic agreement, Zhongpin (Nasdaq: HOGS) will receive RMB 10 billion in loans and financial services from China Construction Bank.

On the downside

Cirrus Logic (Nasdaq: CRUS) blamed a production issue for cutting its fourth quarter margin guidance.

Iamgold (NYSE: IAG) will sell its 18.9% stake in the Tarkwa and Damang gold mines in Ghana to Gold Fields for $667 million.

StanCorp Financial Group (Nasdaq: SFG) issued preliminary first quarter results that missed analyst expectations by a wide margin.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 832.

The markets opened mixed with the Dow gaining 45 points to 12,330 while Nasdaq slipped 2 points to 2757. Consumer prices rose in March as food and energy costs climbed.

On the upside

Assured Guaranty (NYSE: AGO) will receive $1.1 billion from Bank of America (NYSE: BAC) to settle liabilities associated with 29 residential mortgage-backed securities transactions insured by Assured Guaranty.

First quarter earnings sllipped for Mattel (Nasdaq: MAT) but the results topped analyst estimates.

Merck (NYSE: MRK) and Johnson & Johnson (NYSE: JNJ) settled their dispute over the rheumatoid arthritis treatments Remicade and Simponi by dividing the global marketing and distribution rights.

On the downside

Google (Nasdaq: GOOG) reported higher first quarter earnings but the results fell short of analyst expectations as expenses surged prompting a downgrade.

While fourth quarter earnings rose for Infosys Technologies (Nasdaq: INFY), the results missed analyst expectations and the company forecast 2012 results below expectations.

RXi Pharmaceuticals (Nasdaq: RXII) priced its public offering of 11.95 million units at $1.00 per unit.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 824.

The markets closed mixed with the Dow rising 14 points to 12,285 despite an unexpected gain in jobless claims as investors await corporate earnings releases. Nasdaq slipped a point to 2760. 

On the upside

CDC (Nasdaq: CHINA) unit CDC Global Services will invest in a High-Tech Food Processing Park in the Zhangzhou Economic and Technology Development Zone in China.

The U. S. Patent and Trademark Office may grant a patent extension to Acorda Therapeutics' (Nasdaq: ACOR) multiple sclerosis treatment Ampyra.

Qihoo 360 Technology (NYSE: QIHU) selected The Bank of New York Mellon (NYSE: BK) as the depositary bank for the company's American depositary receipt program.

On the downside

The Bolivian government may rescind mining concessions granted to Pan American Silver (Nasdaq: PAAS) and Glencore.

RXi Pharmaceuticals (Nasdaq: RXII) will raise funds through a common stock and warrants offering.

Ciber (NYSE: CBR) announced the resignation of executive vice president of North American division Toni Hadzi effective May 1.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 827.

The markets traded in negative territory during the midday with the Dow slipping 14 points to 12,256 as jobless claims climbed unexpectedly. Nasdaq dropped 13 points to 2748. 

On the upside

TheStreet listed Dendreon (Nasdaq: DNDN) as one of ten health care stocks poised to return up to 72%.

El Paso Tennessee Pipeline (NYSE: EP) accepted and will make payments for all debentures validly tendered.

Shares of Zipcar (Nasdaq: ZIP) surged in its market debut.

On the downside

Commodity Broking Services Managing Director Jonathan Barratt recommended that investors sell silver sending shares of Coeur d'Alene Mines (NYSE: CDE) lower.

Fairchild Semiconductor (NYSE: FCS) reported higher first quarter earnings that topped analyst estimates but revenue fell short of expectations.

A federal judged ruled that Lender Processing Services (NYSE: LPS) committed fraud by creating false documents in mortgage foreclosure cases.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 824.

An unexpected increase in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow losing 31 points to 12,239. Nasdaq fell 8 points to 2752. 

On the upside

Supervalu (NYSE: SVU) reported lower fourth quarter earnings but the results beat analyst expectations.

SodaStream International (Nasdaq: SODA) priced its offering of more than 6 million common shares at $43.50 per share.

NPS Pharmaceuticals (Nasdaq: NPSP) priced its public offering of 11 million common shares at $9.00 per share.

On the downside

Validus (NYSE: VR) issued a loss estimate related to the March 11 earthquake in Japan of approximately $139 million.

Sunrise Senior Living (NYSE: SRZ) will offer $75 million in junior subordinated convertible notes.

Investors locked in profits on Riverbed Technology (Nasdaq: RVBD) whose shares surged yesterday after the company issued preliminary first quarter results that topped analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 821.

The markets closed modestly higher with the Dow rising 7 points to 12,270 despite rising oil prices as investors welcomed upbeat earnings. Nasdaq gained 16 points to 2761. 

On the upside

Delcath Systems (Nasdaq: DCTH) received CE Mark approval for its Hepatic CHEMOSTAT Delivery System which allows the company to market and sell the medical device to countries in the European Economic Area.

Alcatel-Lucent (NYSE: ALU) will upgrade and expand nTelos Holdings' (Nasdaq: NTLS) wireless broadband network in Hagerstown, Maryland.

Janney Capital analyst Tony Wible recommended GameStop (NYSE: GME) citing the company's conversion from a physical retail store to a digital forum for online gaming.

On the downside

Goldman Sachs lowered its earnings outlook on Artio Global (Nasdaq: ART) and cut its price target to $16.

The Federal Reserve required 16 top mortgage lenders including Citigroup (NYSE: C), Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) to repay homeowners whose homes were improperly foreclosed.

Petrobras (NYSE: PBR) expects to restart a well test at the Guara offshore field soon after a rupture halted work.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 823.

The markets retreated during the midday but continued trading in positive territory with the Dow adding 3 points to 12,266 as oil prices rebounded. Nasdaq rose 13 points to 2758. 

On the upside

MGM Resorts International (NYSE: MGM) will receive a 51% stake in MGM China when the Macau casino begins trading on the Hong Kong Stock Exchange.

NetApp entered an agreement to market and resell Quantum's (NYSE: QTM) StorNext software.

Soroban Capital Partners acquired a 5.4% stake in PetroHawk Eenrgy (NYSE: HK) to become the largest stakeholder of the energy company.

On the downside

Biostar Pharmaceuticals (Nasdaq: BSPM) appointed Zack Zibing Pan to the position of chief financial officer replacing Deyin (Bill) Chen who resigned.

Mesabi Trust (NYSE: MSB) declared a distribution of 5 cents per Unit of Beneficial Interest payable on May 20, 2011 to unitholders of record April 30, 2011.

Sprint's (NYSE: S) new dual touch-screen Kyocera Echo only offers seven applications that can run as independent apps on each screen.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 822.

Upbeat earnings lifted the markets to a higher open with the Dow rising 32 points to 12,295. Nasdaq gained 17  points to 2762. 

On the upside

Silgan Holdings (Nasdaq: SLGN) will acquire Graham Packaging (NYSE: GIL) in a deal valued at approximately $4.1 million including the assumption of debt.

Chinese mobile phone maker Zoom Technologies (Nasdaq: ZOOM) licensed Qualcomm's (Nasdaq: QCOM) chip patents to develop 3G products for the Chinese market.

Riverbed Technology (Nasdaq: RVBD) forecast first quarter earnings and revenue above analyst expectations.

On the downside

Investors locked in profits on Identive Group (Nasdaq: INVE), whose shares surged yesterday when a unit of the company was selected to supply near field communication RFID stickers for Google Places in Austin, Texas.

Gerdau (NYSE: GGB) priced its global offering of more than 68 million common shares at R$15.60 per share and an offering of more than 203 million preferred shares at R$19.25 per share.

Wells Fargo (NYSE: WFC) announced a pilot program with Visa (NYSE: V) to test Smart Cards embedded with EMV chip technology but the stock price slipped.

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 added 2 points to 824.

Oil prices fell but the markets closed sharply lower with the Dow plummeting 117 points to 12,263 after Japan raised the radiation alert level at the Fukushima Dai-Ichi power plant. Nasdaq tumbled 26 points to 2744. 

On the upside

Gildan Activewear (NYSE: GIL) will pay approximately $350 million to acquire Gold Toe Moretz Holdings.

The Daily Telegraph reported that Schneider Electric offered $30 billion to acquire Tyco International (NYSE: TYC).

PPL (NYSE: PPL) priced its offering of 80 million common shares at $25.30 per share.

On the downside

Joe's Jeans (Nasdaq: JOEZ) disappointed with lower first quarter earnings as revenue slipped.

CompuCredit Holdings (NYSE: CCRT) announced that more than 38 million common shares were validly tendered in the company's tender offer to purchase up to 13.125 million common shares.

GMX Resources (NYSE: GMXR) reported record production in the first quarter of 6.0 Bcfe and forecast sharply higher second quarter and full year production.

In the broad market, declining issues outpaced advancers 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 dropped 11 points to 822.

Disappointing corporate earnings sent the markets tumbling during the midday with the Dow plummeting 107 points to 12,273. Nasdaq dropped 24 points to 2746. 

On the upside

Exelixis (Nasdaq: EXEL) retained the services of Goldman Sachs to field possible acquisition offers.

The Bureau of Transportation Statistics reported that airline fuel expenses dropped in February. Shares of Delta Air Lines (NYSE: DAL) and United Continental (NYSE: UAL) climbed.

Skilled Healthcare (Nasdaq: SKH) announced that the operator of nursing facilities was exploring strategic options including the possible sale of the company.

On the downside

Alcoa (NYSE: AA) reversed year ago losses to post a profit for the first quarter but revenue fell short of expectations.

Retreating silver prices weighed down shares of First Majestic Silver (NYSE: AG).

An increase in the radiation alert level at the Fukushima Dai-Ichi nuclear power plant sent shares of Uranium Resources (NYSE: URRE) lower.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 824.

Increasing radiation from the damaged Fukushima Dai-Ichi nuclear power plant prompted Japan to raise the rating of the atomic alert to match the Chernobyl disaster rating of 7. The markets opened sharply lower with the Dow plunging 112 points to 12,268 while Nasdaq tumbled 25 points to 2746. 

On the upside

Identive Group's (Nasdaq: INVE) Smartag unit will be the exclusive supplier of near field communication RFID stickers for Google Places in Austin, Texas.

Bargain hunters lifted shares of Community Health (NYSE: CYH), whose stock price plunged yesterday after Tenet Health filed a lawsuit against the hospital operator alleging Medicare fraud.

Reuters reported that Hewlett-Packard (NYSE: HPQ) had been exploring the possible acquisition of Tibco Software (Nasdaq: TIBX).

On the downside

WMS Industries (NYSE: WMS) warned that third quarter earnings will miss estimates due to lower demand and forecast full year results below analyst expectations.

Extreme Networks (Nasdaq: EXTR) blamed delayed customer purchases for warning that third quarter revenue will fall short of expectations.

Safe Bulkers (NYSE: SB) priced its offering of 5 million common shares at $8.40 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 825.

Flat Close Ahead Of Earnings News

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The markets closed flat with the Dow adding a point to 12,381 ahead of corporate earnings reports. Nasdaq dropped 8 points to 2771. 

On the upside

Forest Laboratories' (NYSE: FRX) Namenda is effective only on patients with moderate to severe Alzheimer's. Namenda is one of only a few approved drugs to treat Alzheimer's disease.

Shares of Horizon Lines (NYSE: HRZ) continued climbing after agreeing last Thursday to pay $1.77 million to settle a lawsuit filed by the Puerto Rican government.

Lee Enterprises (NYSE: LEE) warned of lower second quarter revenue but also said that expenses are expected to drop rather than rise.

On the downside

JPMorgan initiated coverage of Westport Innovations (Nasdaq: WPRT) with a Hold rating.

Online brokerage Interactive Brokers increased the margin requirement on Gulf Resources (Nasdaq: GFRE) to 50% and will lift it to 100% on Wednesday.

Biogen Idec (Nasdaq: BIIB) reported positive results from a late stage clinical trial of its multiple sclerosis treatment BG-12. Teva Pharmaceutical (Nasdaq: TEVA) will release results of its experimental multiple sclerosis treatment at the American Academy of Neurology annual meeting this week.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 833.

The markets traded mixed during the midday with the Dow adding 4 points to 12,384 while Nasdaq fell 12 points to 2768. Oil prices retreated but the International Monetary Fund lowered its outlook for economic growth in the United States to 2.8% from 3%. 

On the upside

Two Seeking Alpha contributors wrote that increased demand for rare earth metals will benefit Molycorp (NYSE: MCP).

Flower Foods (NYSE: FLO) will acquire Tasty Baking (Nasdaq: TSTY) in an all cash deal valued at approximately $34.4 million.

Electronics For Imaging (Nasdaq: EFII) announced preliminary first quarter results that surpassed analyst expectations by a wide margin.

On the downside

An arbitration panel ordered ADA-ES (Nasdaq: ADES) to pay Norit Americas $37.9 million in damages for breaching a Market Development Agreement.

Opnext (Nasdaq: OPXT) warned on Friday that fourth quarter revenue will be lower than expected.

Wedge Partners analyst Brian Blair expects Blackberry maker Research In Motion (Nasdaq: RIMM) to abandon Marvel's (Nasdaq: MRVL) processor chips in favor of Qualcomm's (Nasdaq: QCOM) processors.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 835.

Corporate consolidations lifted the markets to a higher open with the Dow gaining 46 points to 12,426. Nasdaq held steady at 2780.

On the upside

Level 3 Communications (Nasdaq: LVLT) will pay approximately $1.9 billion in stock to acquire competitor Global Crossing (Nasdaq: GLBC).

Endo Pharmaceuticals  (Nasdaq: ENDP) will acquire American Medical Systems (Nasdaq: AMMD) in an all cash deal valued at approximately $2.9 billion.

Bloomberg News reported that Schneider Electric is exploring the option of acquiring Tyco International (NYSE: TYC).

On the downside

Tenet Healthcare (NYSE: THC) filed a lawsuit against Community Health Systems (NYSE: CYH), Community Health's chairman and chief executive Wayne T. Smith and chief financial officer W. Larry Cash.

QuickLogic (NYSE: QUIK) cut its revenue outlook for the first quarter.

Ireland announced on Friday that it will not use any more funds from financial aid package it received from the European Union and International Monetary Fund to assist banks until interest rates are lowered.  Shares of Bank of Ireland (NYSE: IRE) and Allied Irish Banks (NYSE: AIB) dropped.

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. The Russell 2000 which tracks small cap stocks sllipped 2 points to 838.

Higher crude oil prices weighed the markets down to a lower close with the Dow losing 29 points to 12,380. Nasdaq dropped 15 points to 2780.

On the upside

Rising silver prices lifted shares of Pan American Silver (Nasdaq: PAAS).

GenCorp (NYSE: GY) reversed year ago losses to post a profit for the first quarter earnings as revenue climbed.

China Automotive (Nasdaq: CAAS) reported preliminary fourth quarter revenue that surpassed analyst expectations by a wide margin.

On the downside

Sangamo BioSciences (Nasdaq: SGMO) priced its public offering of 6.7 million common shares at $7.70 per share.

Irish Life & Permanent withdrew its offer to acquire Allied Irish Banks' (NYSE: AIB) asset management unit after stress tests indicated that Irish Life & Permanent must raise 4 billion euros.

Shares of PennantPark Floating Rate Capital (Nasdaq: PFLT) fell on its first trading day.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 840.

The markets extended its losses during the midday with the Dow slipping 19 points to 12,389 as crude oil prices continued rising. Nasdaq lost 5 points to 2790.

On the upside

Tempur-Pedic (NYSE: TPX) expects first quarter results to surpass analyst estimates and raised its full year outlook above expectations.

Craig-Hallum analyst Christian Schwab upgraded Western Digital (NYSE: WDC) to a Buy rating while Capstone Investment analyst Shebly Seyrafi lifted his price target from $35 to $40.

Shares of Golar LNG Partners (Nasdaq: GMLP) climbed on its first trading day.

On the downside

Rising fuel expenses weighed down shares of United Continental (NYSE: UAL).

Spirit AeroSystems (NYSE: SPR) announced a secondary public offering of more than 10 million common shares.

Harvest Natural Resources (NYSE: HNR) plugged and abandoned a well in the Budong Budong Block in Indonesia due to high pressures.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 849.

Rising crude oil prices and an eminent government shutdown weighed the markets down to a lower open with the Dow easing a point to 12,408. Nasdaq slipped a point to 2794.

On the upside

Expedia (Nasdaq: EXPE) will split into two publicly traded companies, travel site TripAdvisor and online travel company Expedia.

Seagate (NYSE: STX) announced its first quarterly dividend of 18 cents per share payable on June 1 to shareholders of record May 2.

Shares of Horizon Lines (NYSE: HRZ) continued rising after agreeing yesterday to pay $1.77 million to settle a lawsuit with the Puerto Rican government.

On the downside

The Securities and Exchange Commission and the Department of Justice both launched investigations into Hercules Offshore (Nasdaq: HERO).

Delta Airlines (NYSE: DAL) and US Airways (NYSE: LCC) increased roundtrip airline fares again by $10.

Idenix Pharmaceuticals (Nasdaq: IDIX) priced its public offering of 18.31 million common shares at $2.80 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 849.

Japan suffered another powerful earthquake but tsunami warnings were lifted after an hour and a half. The markets closed lower with the Dow losing 17 points to 12,409. Nasdaq slipped 3 points to 2796.

On the upside

Horizon Lines (NYSE: HRZ) will pay $1.77 million to settle a lawsuit with the Puerto Rican government.

Speculation that the U. S. government may stockpile rare earth metals lifted shares of Molycorp (NYSE: MCP).

Constellation Brands (NYSE: STZ) reversed year ago losses to post a better than expected profit for the fourth quarter.

On the downside

Sotheby's (NYSE: BID) reported disappointing proceeds from the Meiyintang collection auction that fell far short of the presale estimate.

Qiao Xing Mobile (NYSE: QXM) adjourned its shareholder meeting to consider an offer to go private due to a lack of a quorum.

The government demanded that Ford (NYSE: F) extend the recall of its F-150 pickup truck by 6,000 vehicles.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 849.

A magnitude 7.4 earthquake struck off the coast of northeastern Japan sending the markets down during the midday with the Dow falling 45 points to 12,381. Nasdaq lost 5 points to 2794.

On the upside

Pier 1 Imports (NYSE: PIR) reported sharply higher fourth quarter earnings that topped analyst estimates as revenue rose.

IntraLinks Holdings (NYSE: IL) priced its follow-on offering of 7.5 million common shares at $25.50 per share.

ImmunoGen (Nasdaq: IMGN) reported positive results from a midstage clinical trial of its breast cancer treatment T-DM1.

On the downside

Televisa (NYSE: TV) will acquire 50% of cell phone company Iusacell for approximately $1.6 billion.

Brazil announced plans to increase government regulation of ethanol weighing down shares of the world's largest producer of ethanol Cosan (NYSE: CZZ).

Variant View Research maintained its allegations of fraud against Advanced Battery Technologies (Nasdaq: ABAT) with its response today to Advanced Battery's press release yesterday.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 850.

Despite better than expected March same store sales, the markets opened mixed with the Dow losing 6 points to 12,419 as mortgage rates rose. Nasdaq rose 5 points to 2805.

On the upside

The Food and Drug Administration approved XenoPort's (Nasdaq: XNPT) restless leg syndrome treatment Horizant.

Bed Bath & Beyond (Nasdaq: BBBY) reported higher fourth quarter earnings that surpassed analyst expectations by a wide margin and forecast current year results ahead of estimates.

Express (NYSE: EXPR) priced its secondary public offering of 19.8 million common shares at $19.00 per share.

On the downside

Gap (NYSE: GPS) disappointed with a sharp 10% drop in March same store sales.

Third quarter earnings for Ruby Tuesday (NYSE: RT) slipped to fall short of analyst expectations.

Auriga downgraded Allscripts Healthcare Solutions (Nasdaq: MDRX) to a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 3 points to 857.

More than three-quarters of the nation's cities reported a drop in their unemployment rate to lift the markets to a higher close with the Dow climbing 32 points to 12,426. Nasdaq gained 8 points to 2799.

On the upside

Elan (NYSE: ELN) will host its first quarter earnings conference call on Wednesday April 20, 2011 at 8:30am Eastern Time.

KeyBanc Capital Markets upgraded La-Z-Boy (NYSE: LZB) to a Buy rating.

Nu Skin Enterprises (NYSE: NUS) lifted its first quarter revenue and earnings outlook.

On the downside

Inhibitex (Nasdaq: INHX) will commence a public offering of common shares to raise capital.

Investors locked in profits on Molycorp (NYSE: MCP), whose shares rose on Monday after the rare earth oxides firm acquired a majority stake in European rare earth processor AS Simet.

Vale (NYSE: VALE) will modestly increase its iron ore output for 2011 as demand continued to climb. Investors hoped for greater output to meet growing global demand.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 854.


The markets retreated during the midday but remained in positive territory with the Dow gaining 26 points to 12,420 as crude oil prices rose. Nasdaq added 2 points to 2793.

On the upside

General Maritime (NYSE: GMR) secured a $200 million credit facility from Oaktree Capital Management.

Oppenheimer & Co. analyst Rick Schafer upgraded Broadcom (Nasdaq: BRCM) to an Outperform rating while DA Davidson analyst Aalok Shah upgraded the semiconductor to a Buy rating.

Biolase Technology (Nasdaq: BLTI) lifted its first quarter revenue guidance citing strong demand for its WaterLase iPlus all-tissue laser system.

On the downside

Columbia Laboratories' (Nasdaq: CBRX) and Watson Pharmaceuticals' (NYSE: WPI) Prochieve vaginal gel significantly reduced preterm births in pregnant women with a short cervix.

Charter Equity downgraded Skyworks Solutions (Nasdaq: SWKS) to a Market Underperform rating.

Weak international flight demand weighed down shares of American Airlines parent AMR (NYSE: AMR), Delta Air Lines (NYSE: DAL) and United Continental (NYSE: UAL).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 851.

The markets opened higher with the Dow rising 34 points to 12,428 ahead of the European Central Bank's interest rate decision tomorrow. Nasdaq climbed 14 points to 2806.

On the upside

LabCorp (NYSE: LH) will acquire Orchid Cellmark (Nasdaq: ORCH) in a deal valued at approximately $85.4 million.

Dot Hill Systems (Nasdaq: HILL) will launch its high-performance video post-production solution for Apple users at the NAB Show this weekend.

Advanced Battery Technologies (Nasdaq: ABAT) responded to fraud allegations made by short seller Variant View Research.

On the downside

American Superconductor (Nasdaq: AMSC) warned of fourth quarter losses after client Sinovel Wind Group refused to accept contracted shipments of products prompting downgrades.

Monsanto (NYSE: MON) reported higher second quarter earnings but revenue fell short of expectations and the company forecast full year results below estimates.

Optimer Pharmaceuticals (Nasdaq: OPTR) partnered with Cubist Pharmaceuticals (Nasdaq: CBST) to jointly market Optimer's infection based diarrhea treatment Dificid.

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 gained 5 points to 858.

The markets closed flat with the Dow slipping 6 points to 12,393 after the release of Federal Reserve meeting minutes indicated a split among members whether to raise interest rates or hold rates steady. Nasdaq added 2 points to 2791.

On the upside

Merck (NYSE: MRK) announced a $430 million deal to acquire Inspire Pharmaceuticals (Nasdaq: ISPH).

Rising gold prices lifted shares of Goldcorp (NYSE: GG) and U. S. Gold (NYSE: UXG).

Investor optimism that Fairchild Semiconductor (Nasdaq: FCS) may be the target of an acquisition lifted shares of the semiconductor.

On the downside

Allied Irish Banks(NYSE: AIB) and Bank of Ireland (NYSE: IRE) willl maintain approximately 12 billion euros worth of bad loans rather than transferring them to the state- run National Asset Management Agency.

President and chief executive of Wright Medical Group (Nasdaq: WMGI) Gary Henley resigned effective immediately and the company announced the termination of chief technology officer Frank Bono.

SemiLEDs (Nasdaq: LEDS)  disappointed by swinging to a greater than expected loss for the second quarter as expenses surged.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while advancers barely edged out decliners by slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 853.

The markets advanced during the midday to trade modestly higher with the Dow rising 11 points to 12,411 after Federal Reserve members suggested holding interest rates steady beyond 2011. Nasdaq gained 5 points to 2794.

On the upside

Questcor Pharmaceuticals (Nasdaq: QCOR) reported that new prescriptions more than doubled in the first quarter for its multiple sclerosis treatment Athcar.

Abercrombie & Fitch (NYSE: ANF) forecast full year results well ahead of analyst expectations.

Quantum (Nasdaq: QTM) named president and chief operating officer Jon Gacek to the position of chief executive.

On the downside

Meru Networks (Nasdaq: MERU) warned that first quarter revenue will lower than expected.

Duoyuan Global Water (NYSE: DGW) chief financial officer Stephen.

Teekay LNG Partners (NYSE: TGP) priced its follow-on offering of 3.7 million common units at $38.88.

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 gained 6 points to 855.

The markets opened lower with the Dow losing 42 points to 12,357 while Nasdaq slipped 3 points to 2785 after China raised interest rates.

On the upside

Texas Instruments (NYSE: TXN) will pay approximately $6.5 billion to acquire National Semiconductor (NYSE: NSM).

Cubist Pharmaceuticals (Nasdaq: CBST) settled a patent dispute with Teva Pharmaceuticals (Nasdaq: TEVA) by agreeing to license its antibiotic Cubicin to Teva to produce a generic version of the injectable product.

Intersil (Nasdaq: ISIL) introduced yesterday the industry's first ambient light sensor for automotive applications.

On the downside

KB Home (NYSE: KBH) widened first quarter losses more than expected as orders plunged.

Morgan Stanley downgraded Cree (Nasdaq: CREE) to a Sell rating.

Kayne Anderson (NYSE: KYN) priced its follow-on offering of 5.7 million common shares at $30.58 per share.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 848.

Texas Instruments' $6.5 billion cash acquisition of National Semiconductor tempered news of another rise in crude oil prices. The markets closed mixed with the Dow rising 23 points to 12,400 while Nasdaq eased a fraction to 2789.

On the upside

The Irish government said on Friday that bondholders of Allied Irish Banks (NYSE: AIB) and the Bank of Ireland (NYSE: IRE) will not need to take discounts on their investments.

Landry's Restaurant chief executive Tilman Fertitta announced intentions to launch an all cash hostile bid for McCormick & Schmick's (NYSE: MSSR).

Kraton Polymers (NYSE: KRA) announced price increases for all styrenic block copolymers and Kraton HSBC polymers and compounds in Europe, Africa, the Middle East and in the Americas.

On the downside

Louisiana Pacific (NYSE: LPX) filed a $4.5 million lawsuit against Teaford for a heat system that caused an explosion at a manufacturing facility in 2008.

Canaccord Genuity reported that sales of Motorola Mobility's (NYSE: MMI) XOOM tablet were slowing.

SodaStream International (Nasdaq: SODA) will sell 5 million shares to raise approximately $49.5 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 849.

The markets traded mixed during the midday with the Dow gaining 15 points to 12,391 as crude oil prices rose. Nasdaq slipped a point to 2788.

On the upside

Aastrom Biosciences (Nasdaq: ASTM) achieved an important manufacturing milestone ahead of schedule to produce cell cassettes.

Molycorp (NYSE: MCP) acquired a 90.023% stake in European rare earth processing facility AS Silmet for approximately $89 million. The acquisition doubles Molycorp's production capacity.

Teck Resources (NYSE: TCK) reached a tentative agreement with union workers at the the company's Elkview coal mine to end a two month strike.

On the downside

Muddy Waters Research said that Duoyuan Global Water (NYSE: DGW) issued false financial reports.

Hackers breached the security of Alliance Data Systems (NYSE: ADS) unit Epsilon to steal millions of customer email addresses from major retailers and banks.

A possible bankruptcy filing weighed down shares of Horizon Lines (NYSE: HRZ).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 849.

Mixed Open Over Corporate News

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The markets opened mixed with the Dow rising 12 points to 12,389 while Nasdaq eased a fraction to 2788 over corporate news. McDonald's announced plans to hire 50,000 workers while Southwest cancelled an additional 100 flights.

On the upside

Private equity firm Apax Partners will acquire Epicor Software (Nasdaq: EPIC) and Activant Solutions in a deal valued at approximately $2 billion.

Vivus (Nasdaq: VVUS) reported that its Qnexa lowered blood pressure and increased lipid levels in patients taking the experimental weight loss drug over two years.

Orexigen Therapeutics (Nasdaq: OREX) reported that patients taking its weight loss treatment Contrave maintained normal 24-hour circadian patterns over one year of treatment.

On the downside

OmniVision (Nasdaq: OVTI) purchased 850 image sensor-related patents and patent applications from Eastman Kodak (NYSE: EK) for $65 million in cash.

Ambassadors International (Nasdaq: AMIE) will file for Chapter 11 bankruptcy and sell it Windstar Cruises unit to a private investment firm.

General Dynamics (NYSE: GD) said that a flight test of a Gulfstream G650 crashed killing four people.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 847.

The markets closed higher with the Dow climbing 56 points to 12,376 despite record crude oil prices as investors welcomed a drop in the nation's unemployment rate. Nasdaq rose 8 points to 2789.

On the upside

China's Ministry of Science and Technology presented UTStarcom (Nasdaq: UTSI) with the Innovation Award during the China Content Broadcasting Network exhibition.

The Food and Drug Administration issued a positive review of Optimer Pharmaceuticals' (Nasdaq: OPTR) antibiotic fidaxomicin used for treating Clostridium difficile infections.

President Barack Obama and other government officials visited a UPS shipping facility where a liquefied natural gas truck powered by Westport HD (Nasdaq: WPRT) was featured.

On the downside

First quarter earnings plunged for Xyratex (Nasdaq: XRTX) as revenue fell short of expectations and the company warned of losses for the second quarter.

KV Pharmaceutical (NYSE: KVA) slashed the price of its preterm labor drug Makena by 55% after the Food and Drug Administration said that it would not take action against pharmacies that compounded generic versions of the medication.

Ascent Solar Technologies (Nasdaq: ASTI) will scale back rooftop solar installations to focus on thin-film solar modules.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 846.


A two-year low in the nation's unemployment rate lifted the markets during the midday with the Dow gaining 85 points to 12,404. Nasdaq climbed 17 points to 2798.

On the upside

Shares of Inhibitex (Nasdaq: INHX) continued rising after reporting positive Phase Ib clinical trial results yesterday for its INX-189 treatment for chronic infections caused by the hepatitis C virus.

Dr. Reddy's Laboratories (NYSE: RDY) affiliate Promius Pharma partnered with Valeant Pharmaceuticals (NYSE: VRX) to manufacture and market the topical steroid Cloderm Cream.

Standard & Poor's downgraded Ireland's credit rating but maintained a stable outlook which lifted shares of The Bank of Ireland (NYSE: IRE).

On the downside

Krispy Kreme (NYSE: KKD) disappointed by swinging to a fourth quarter loss as expenses rose.

Stifel Nicolaus downgraded Sunrise Senior Living (NYSE: SRZ).

Medifast (NYSE: MED) reported higher fourth quarter earnings but the results fell short of analyst estimates and the weight management company forecast first quarter results below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 849.

The nation's unemployment rate slipped to its lowest level in two years to lift the markets to a higher open with the Dow climbing 83 points to 12,403. Nasdaq gained 14 points to 2795.

On the upside

Providence Equity Partners will acquire SRA International (NYSE: SRX) in an all cash deal.

Stifel Nicolaus upgraded Las Vegas Sands (NYSE: LVS) to a Buy rating.

Nasdaq and IntercontinentalExchange made a cash and stock hostile bid for NYSE Euronext (NYSE: NYX) valued at approximately $11.3 billion.

On the downside

Logitech International (Nasdaq: LOGI) blamed lower than expected demand for cutting its fiscal 2011 revenue and earnings outlook.

AVI Biopharma (Nasdaq: AVII) priced its public offering of 20 million common shares at $1.50 per share.

Office Depot (NYSE: ODP) must restate its 2010 second and third quarter results and its full year financials.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 848.

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