May 2011 Archives

A late afternoon rally lifted the markets to a sharply higher close with the Dow soaring 128 points to 12,569. Nasdaq surged 38 points to 2825.

On the upside

The Food and Drug Administration approved Optimer Pharmaceuticals' (Nasdaq: OPTR) antibiotic Dificid for treating intestinal infections.

Shares of Sequans Communications (NYSE: SQNS) continued climbing after three analysts initiated coverage of the 4G semiconductor solutions company last week with Buy ratings.

Needham & Co. initiated coverage of Lexicon Pharmaceuticals (NYSE: LXRX) on Friday with a Buy rating.

On the downside

Seeking Alpha contributor Aaron Stackhouse detailed accounting irregularities in SEC filings by L&L Energy (Nasdaq: LLEN).  

Short sellers sank shares of LinkedIn (NYSE: LNKD).

MPG Office Trust (NYSE: MPG) completed the disposition of its Westin Pasadena Hotel.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 848.

The markets traded higher during the midday with the Dow gaining 63 points to 12,505 as European leaders moved closer to finalizing another financial package for Greece. Nasdaq climbed 19 points to 2816.

On the upside

MicroStockProfit.com named FiberTower (Nasdaq: FTWR) it's focus stock for today and issued an investment report on the provider of facilities-based backhaul services to wireless carriers.

Shares of LDK Solar (NYSE: LDK) and Yingli Green Energy (NYSE: YGE) rose after Germany announced that it will shutter all nuclear reactors by 2022 and focus on developing wind and solar power.

Ashland (NYSE: ASH) will acquire International Specialty Products for approximately $3.2 billion in cash.

On the downside

Shares of three dimensional technologies company RealD (NYSE: RLD) tumbled as ticket sales for the regular 2D version of Kung Fu Panda 2 outpaced 3D ticket sales highlighting the declining box office share of 3D movies.  

The Biomedical Advanced Research and Development Authority of the Department of Health and Human Services requested clarification of Cleveland BioLabs' (Nasdaq: CBLI) development path for its Acute Radiation Syndrome treatment CBLB502 before engaging in further contract negotiations for funding.

Germany's announcement that it will stop all use of nuclear power by 2022 weighed down shares of Cameco (NYSE: CCJ) Uranium Resources (Nasdaq: URRE).

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 6 points to 842.

Investors welcomed the possibility of a second bailout package for Greece to avert a default. The markets opened higher with the Dow climbing 80 points to 12,522 while Nasdaq rose 12 points to 2809.

On the upside

Morgan Stanley Private Equity Asia will make a $50 million equity investment in Yongye International (Nasdaq: YONG).

FuelCell Energy (Nasdaq: FCEL) received a two-year order from POSCO Power valued at approximately $129 million for 70 megawatts of fuel cell kits.

BioSante Pharmaceuticals (Nasdaq: BPAX) completed enrollment for a Phase III safety study of it female sexual dysfunction treatment LibiGel.

On the downside

Nokia (NYSE: NOK) warned that second quarter results will fall far short of expectations as sales tumbled amidst a highly competitive market. 

The Bank of Ireland (NYSE: IRE) will repurchase subordinated debt at a sharply discounted price.

Caris & Co. downgraded Dreamworks Animation (Nasdaq: DWA) and William Blair lowered its full year earnings estimates for the company after Kung Fu Panda 2's opening weekend ticket sales fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 839.

U. S. Markets Closed

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

Consumer sentiment climbed more than expected in May to lift the markets to a modestly higher close with the Dow rising 38 points to 12,441. Nasdaq gained 13 points to 2796.

On the upside

First quarter earnings climbed for rue21 (Nasdaq: RUE) to surpass analyst expectations prompting the teen apparel retailer to lift its full year outlook.

UBS, Jefferies & Co. and Needham all initiated coverage of Sequans (Nasdaq: SQNS) yesterday with Buy ratings while Robert W. Baird initiated with an Outperform rating.

Bargain hunters lifted shares of Polo Ralph Lauren (NYSE: RL), whose shares plunged on Wednesday after reporting lower fourth quarter earnings that fell short of analyst expectations.

On the downside

Deutsche Bank downgraded Weyerhaeuser (NYSE: WY) to a Sell rating. 

Paragon Shipping (NYSE: PRGN) disappointed with lower first quarter earnings.

Investors locked in profits on Glu Mobile (NYSE: GLUU), whose shares climbed yesterday after the mobile gaming company lifted its second quarter outlook.

In the broad market, advancing issues outpaced decliners by a margin of 3 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 836.

The markets extended its gains during the midday with the Dow climbing 44 points to 12,447 as consumer sentiment rose in May. Nasdaq rose 13 points to 2796.

On the upside

Shares of Solazyme (Nasdaq: SZYM) soared in its market debut.

Shares of Clean Diesel Technologies (Nasdaq: CDTI) continued climbing after announcing on Wednesday that the company received orders of approximately $2 million for its verified emission reduction products.

The Bedford Report issued a research report saying that growth of China's agricultural sector has benefitted AgFeed Industries (Nasdaq: FEED).

On the downside

China Information Technology (Nasdaq: CNIT) announced the resignation of chief financial officer Jackie You Kazmerzak effective May 30, 2011. 

Mentor Graphics (Nasdaq: MENT) narrowed first quarter losses but the company forecast current quarter and full year results below analyst expectations.

Investors locked in profits on SandRidge Energy (NYSE: SD), whose shares surged the last two days after the company filed for an initial public offering for the SandRidge Permian Trust.

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 4 points to 835.

A gain in personal income lifted the markets to a higher open with the Dow rising 31 points 12,434. Nasdaq gained 8 points to 2791.

On the upside

Advanced Analogic Technologies (Nasdaq: AATI) will be acquired by rival Skyworks Solutions (Nasdaq: SWKS) in a cash and stock deal valued at approximately $262.5 million.

First quarter earnings slipped for Marvell Technology Group (Nasdaq: MRVL) but the chipmaker forecast current quarter results ahead of estimates.

LDK Solar (NYSE: LDK) will supply 45 megawatts of solar modules to a leading Italy-based solar systems integrator.

On the downside

Blue Cross Blue Shield will switch its specialty pharmacy benefit contract from MedcoHealth Solutions (NYSE: MHS) to CVS (NYSE: CVS) in 2012. 

Boardwalk Pipeline Partners (NYSE: BWP) priced its public offering of 6 million common units at $29.33 per unit.

Fourth quarter earnings leaped for OmniVision (Nasdaq: OVTI) as revenue surged but the company's current quarter outlook disappointed investors.

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 rose 3 points to 834.

The markets closed modestly higher with the Dow adding 8 points 12,402 as upbeat earnings tempered news of an increase in jobless claims. Nasdaq climbed 21 points to 2782.

On the upside

Clean Diesel Technologies (Nasdaq: CDTI) received orders for nearly $2 million worth of its verified emission reduction products.

Fourth quarter earnings climbed for HHGregg (NYSE: HGG) to surpass analyst expectations by a wide margin as revenue soared.

Emergent BioSolutions (NYSE: EBS) announced that the government intends to order 44.75 million doses of its anthrax vaccine BioThrax.

On the downside

FBR Capital Markets downgraded Lululemon Athletica (Nasdaq: LULU) to an Underperform rating citing possible margin pressures. 

Shares of Brown Shoe Company (NYSE: BWS) continued falling after posting sharply lower first quarter earnings yesterday.

Options trading begins tomorrow for LinkedIn (NYSE: LNKD) stock.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased climbed 10 points to 830.

The nation's economy expanded at a sluggish 1.8% rate in the first quarter. The markets traded mixed during the midday with the Dow losing 25 points 12,369 while Nasdaq gained 11 points to 2772.

On the upside

NetApp (Nasdaq: NTAP) reported higher fourth quarter earnings that beat analyst expectations and the data management company forecast current quarter results ahead of estimates.

Seeking Alpha contributor Nicholas Southwick Levis said that LDK Solar (NYSE: LDK) is undervalued.

First quarter earnings climbed for Tiffany & Co. (NYSE: TIF) to surpass analyst expectations prompting the jewelry retailer to lift its full year outlook.

On the downside

Sigma Designs (Nasdaq: SIGM) disappointed by swinging to a greater than expected loss for the first quarter as expenses climbed. 

Empire District Electric Company (NYSE: EDE) blamed the devastation of the May 22 tornado for suspending all quarterly dividends for the rest of 2011.

A clinical trial of Abbott Laboratories' (NYSE: ABT) cholesterol treatment Niaspan was stopped a year and a half early for being ineffective in preventing heart attacks and strokes.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased added 2 points to 823.


An increase in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow falling 50 points 12,344. Nasdaq added 4 points to 2765.

On the upside

Arena Pharmaceuticals (Nasdaq: ARNA) announced positive results from three Phase 3 clinical trials of its weight loss treatment lorcaserin.

First quarter earnings slipped for Guess (NYSE: GES) but revenue rose to surpass analyst expectations and the apparel retailer forecast full year results ahead of estimates.

SandRidge Energy (NYSE: SD) filed for the initial public offering of the newly formed SandRidge Permian Trust.

On the downside

Big Lots (NYSE: BIG) reported lower first quarter earnings, forecast current quarter results below analyst expectations and cut its full year guidance. 

Computer Sciences Corp. (NYSE: CSC) disappointed with lower fourth quarter earnings that fell short of analyst expectations.

Investors locked in profits on El Paso (NYSE: EP) whose shares surged after announcing a spin-off on Tuesday.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 818.

Closing Bell Report

|

The markets closed higher with the Dow rising 38 points 12,394 as crude
oil supplies increased. Nasdaq gained 15 points to 2761.

On the upside

Proteostasis Therapeutics partnered with Elan (NYSE: ELN) to develop
disease modifying, small molecule drugs and diagnostics for treating
neurodegenerative disorders.

Stifel Nicolaus announced that OCZ Technology (Nasdaq: OCZ) won a Dell
design award for its VeloDrive.

Shares of Glu Mobile (NYSE: GLUU) rose on expectations that rival gaming
company Zynga will file for its inital public offering.

On the downside

Rising crude oil prices and the volcano eruption in Iceland weighed down
shares of Delta Air Lines (NYSE: DAL).

Suntech Power (NYSE: STP) reported higher first quarter earnings but the
company lowered its full year revenue guidance.

Frontline (NYSE: FRO) reported lower first quarter earnings as revenue
fell and warned of challenging market conditions.

In the broad market, advancing issues outpaced decliners by a margin of
nearly 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which
tracks small cap stocks soared 10 points to 820.

The nation's supply of crude oil and gasoline rose last week to lift the markets higher during the midday with the Dow rising 32 points 12,388. Nasdaq gained 14 points to 2761.

On the upside

Zale (NYSE: ZLC) narrowed third quarter losses more than expected as revenue rose.

Pacific Sunwear (Nasdaq: PSUN) posted a loss for the first quarter but the results were better than expected.

Shares of El Paso (NYSE: EP) continued rising after announcing yesterday that the natural gas company will spin-off its exploration and production business.

On the downside

Polo Ralph Lauren (NYSE: RL) disappointed with lower fourth quarter earnings that fell short of analyst expectations. 

First quarter earnings for American Eagle Outfitters (NYSE: AEO) more than doubled as the teen apparel retailer cut expenses but revenue fell to miss analyst expectations.

Investors locked in profits on Yandex (Nasdaq: YNDX), whose stock price surged yesterday in its market debut.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 819.

The markets opened mixed with the Dow losling 14 points 12,341 while Nasdaq added a fraction to 2747 as durable goods orders dropped in April.

On the upside

Golden Gate Capital will pay approximately $470 million in cash to acquire California Pizza Kitchen (Nasdaq: CPKI).

Quantum Fuel (Nasdaq: QTWW) secured a contract to deliver more than 100 plug-in hybrid electric Ford F-150 pick-up trucks to The Dow Chemical Company (NYSE: DOW).

Martha Stewart Living Omnimedia (NYSE: MSO) retained the services of Blackstone Group to explore potential partnerships and other opportunities to increase shareholder value.

On the downside

Plug Power (Nasdaq: PLUGD) priced its public offering of 8.265 million common shares and warrants to purchase nearly 6.2 million common shares at $2.42 per unit consisting of one common share and 0.75 warrants. 

American International Group (NYSE: AIG) and the Treasury Department sold 300 million shares of AIG stock for $8.7 billion.

Collective Brands (NYSE: PSS) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations.

In the broad market, declining issues edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 812.

Continued concerns of a potential default by Greece weighed the markets down to a lower close with the Dow falling 25 points 12,356. Nasdaq lost 12 points to 2746.

On the upside

Level 3 Communications (Nasdaq: LVLT) launched its Wholesale Partner Program yesterday that enables wholesale carriers to more effectively utilize Level 3's network and services.

A Seeking Alpha article listed Tele Norte Leste Participacoes (NYSE: TNE) as a top undervalued stock.

Rising silver prices lifted shares of Endeavor Silver (NYSE: EXK).

On the downside

Intel (Nasdaq: INTC) launched its AppUp Small Business Service offering the Intel Hybrid Cloud platform to small businesses but the stock price fell. 

General Electric (NYSE: GE) partnered with the Massachusetts Institute of Technology to develop next generation medical imaging systems but the stock price slipped.

The Los Angeles Times reported that Gap (NYSE: GPS) will open Athleta stores at the Grove in Los Angeles and at Fashion Island in Newport Beach.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 810.


Concerns that Greece may default on its loans weighed the markets down during the midday with the Dow losing 14 points 12,366. Nasdaq fell 12 points to 2746.

On the upside

Rediff.com (Nasdaq: REDF) narrowed fourth quarter losses as revenue rose.

DSW (NYSE: DSW) reported higher first quarter earnings that beat analyst expectations prompting the footwear retailer to lift its full year guidance.

Russian Internet search engine Yandex (Nasdaq: YNDX) surged on its first trading day.

On the downside

Mecox Lane (Nasdaq: MCOX) widened first quarter losses as revenue fell. 

While Cracker Barrel Old Country Store (Nasdaq: CBRL) reported higher third quarter earnings, the results fell short of analyst expectations and the restaurant chain forecast current quarter revenue below estimates.

Wunderlich Securities downgraded Research in Motion (Nasdaq: RIMM) to a Hold rating and cut its price target from $76 to $46.

In the broad market, declining issues outpaced advancers by margin of nearly 9 to 7 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 809.

New home sales rose in April to lift the markets to a higher open with the Dow rising 24 points 12,406. Nasdaq gained 5 points to 2764.

On the upside

Sify Technologies (Nasdaq: SIFY) partnered with Deutsche Telekom International Carrier Sales & Solutions to provide IP and VPN services in India and Europe.

GT Solar (Nasdaq: SOLR) reported higher fourth quarter earnings that beat analyst expectations and lifted its 2012 guidance.

El Paso (NYSE: EP) announced plans to spin off its exploration and production division into a separate publicly traded company headed by current unit president Brent Smolik.

On the downside

Identive Group (Nasdaq: INVE) priced its public offering of more than 7.8 million common shares at $2.55 per share. 

Medtronic (NYSE: MDT) disappointed with lower fourth quarter earnings that missed analyst expectations and forecast 2012 results below estimates.

Investors locked in profits on Cell Therapeutics (Nasdaq: CTICD) whose shares climbed yesterday on news that the company will meet with the Food and Drug Administration to discuss resubmitting a New Drug Application for the company's non-Hodgkins lymphoma treatment pixantrone.

In the broad market, advancing issues outpaced decliners by margin of nearly 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 815.

A drop in China's oil consumption sparked fears of a global economic slowdown sending the markets down to a sharply lower close with the Dow plummeting 130 points 12,381. Nasdaq sank 44 points to 2758.

On the upside

Cell Therapeutics (Nasdaq: CTICD) announced on Friday that it will meet with the Food and Drug Administration in June to discuss resubmiting the company's New Drug Application for its refractory aggressive non-Hodgkins lymphoma treatment pixantrone.

Equity Markets issued a research report on Opnext (Nasdaq: OPXT) and its role in the expanding communications market.

Spectrum Pharmaceuticals (Nasdaq: SPPI) will present abstracts of its cancer treatment Belinostat and non-Hodgkins lymphoma treatment Zevalin at the 2011 Annual Meeting of the Annual Society of Clinical Oncology in Chicago, Illinois next month.

On the downside

Investors locked in profits on Camelot Information Systems (NYSE: CIS), which reported better than expected earnings on Friday. 

Compass Point initiated coverage of PMI Group (NYSE: PMI) with a Neutral rating.

The Oxen Group listed Youku.com (NYSE: YOKU) as its top Chinese Internet stock to sell saying that the company generates no revenue.

In the broad market, declining issues outpaced advancers by margin of more than 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 15 points to 814.

Concerns that Italy may face a serious debt problem sank the markets during the midday with the Dow plunging 151 points 12,360. Nasdaq stumbled 46 points to 2756.

On the upside

TheStreet senior columnist Adam Feuerstein on Friday affirmed his opinion that Biosante Pharmaceuticals' (NYSE: BPAX) female sexual dysfunction treatment Libigel is safe and effective.

Bain Capital Partners affiliate Amber Parent will pay approximately $265.5 million in cash to acquire China Fire & Security Group (Nasdaq: CFSG).

Charming Shoppes (Nasdaq: CHRS) retained the services of Moelis & Co. to explore the possible sale of the company's Fashion Bug stores.

On the downside

Copper production output tumbled 17% at Freeport McMoRan's (NYSE: FCX) Grasberg mine in the first quarter. 

Citigroup (NYSE: C) named former PricewaterhouseCoopers chief executive Samuel Di Piazza Jr. to the position of vice chairman of institutional clients group but the stock price fell.

Bank of America (NYSE: BAC) received a license from the Central Bank of Brazil to offer corporate and investment banking services in Brazil but the stock price dropped.

In the broad market, declining issues outpaced advancers by margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 13 points to 815.

Fears of a worsening debt crisis in Europe sent the markets tumbling to a sharply lower open with the Dow plummeting 145 points 12,366. Nasdaq plunged 48 points to 2754.

On the upside

First quarter earnings more than doubled to beat analyst expectations for Krispy Kreme Doughnuts (NYSE: KKD).

Mad Money's Jim Cramer said that Sequans Communications (NYSE: SQNS) stock price is rising and may be upgraded.

Identive Group (Nasdaq: INVE) signed a three- year Value Added Reseller agreement with NXP Semiconductors (Nasdaq: NXPI) to jointly identify, assess and address new market opportunities for secure identification applications.

On the downside

Shares of Ku6 Media (Nasdaq: KUTV) tumbled ahead of its earnings release tomorrow. 

Investors locked in profits on LinkedIn (NYSE: LNKD), whose shares surged last Thursday in its market debut.

Tech Data (Nasdaq: TECD) reported higher first quarter earnings as revenue rose but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by margin of more than 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 815.

Fitch slashed the credit rating of Greece to send the markets down to a lower close with the Dow tumbling 93 points 12,512. Nasdaq dropped 19 points to 2803.

On the upside

Foot Locker (NYSE: FL) reported sharply higher first quarter earnings that surpassed analyst expectations as revenue climbed.

STEC (Nasdaq: STEC) chief executive officer Manouch Moshayedi and chief operating officer Mehrdad Moshayedi purchased shares of company stock.

First quarter earnings soared for Red Robin Gourmet Burgers (Nasdaq: RRGB) to beat analyst expectations by a wide margin as revenue rose.

On the downside

The Wet Seal (Nasdaq: WTSLA) reported first quarter earnings that more than doubled but the specialty retailer forecast current quarter income below estimates. 

Needham (NYSE: AEO) downgraded American Eagle Outfitters to a Hold rating.

MF Global Holdings (NYSE: MF) narrowed fourth quarter losses but the stock price dropped.

In the broad market, declining issues outpaced advancers by margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 829.

Disappointing earnings news weighed the markets down during the midday with the Dow falling 44 points 12,560. Nasdaq lost 8 points to 2815.

On the upside

Opnext (Nasdaq: OPXT) swung to a fourth quarter profit as revenue increased.

First quarter earnings slipped for Salesforce.com (NYSE: CRM) but the results beat analyst expectations.

Speculation that BP (NYSE: BP)will settle claims from the Deepwater Horizon explosion in the Gulf of Mexico last year lifted shares of Andarko Petroleum (NYSE: APC).

On the downside

Aeropostale (NYSE: ARO) disappointed with sharply lower first quarter earnings that fell short of expectations as expenses rose. 

Yingli Green Energy (NYSE: YGE) warned that sequential gross margins will fall.

China Yuchai International (NYSE: CYD) named chief financial officer to the position of acting president to replace retiring president Boo Guan Saw.

In the broad market, declining issues outpaced advancers by 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 slipped a point to 833.

Despite reassurances from Greece that the country will repay bailout funds, the markets opened lower with the Dow dropping 76 points 12,528. Nasdaq fell 16 points to 2807.

On the upside

Barnes & Noble (NYSE: BKS) received an acquisition offer from Liberty Media valued at approximately $1 billion.

Akamai Technologies (Nasdaq: AKAM) chief scientist Thomson Leighton purchased $1.6 million worth of company stock.

The European Medicines Agency's Committee for Medicinal Products for Human Use will grant Acorda Therapeutics' (Nasdaq: ACOR) multiple sclerosis drug Fampyra conditional marketing authorization after more data is submitted to the committee.

On the downside

Gap (NYSE: GPS) blamed higher expenses for a drop in first quarter earnings and slashed its full year guidance. 

LDK Solar (NYSE: LDK) cited rising interest rates for postponing a senior notes offering.

Aruba Networks (Nasdaq: ARUN) reversed year ago losses to post a profit for the third quarter but investors were disappointed with the company's current quarter guidance.

In the broad market, declining issues outpaced advancers by margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 827.

First time applications for unemployment benefits fell more than expected to lift the markets to a higher close with the Dow climbing 45 points 12,605. Nasdaq gained 8 points to 2823.

On the upside

Glu Mobile (Nasdaq: GLUU) will host an analyst day on Thursday, May 26, 2011 in San Francisco.

Thermo Fisher Scientific (NYSE: TMO) will acquire Phadia for approximately $3.5 billion in cash.

Bargain hunters snapped up shares of Central European Distribution (Nasdaq: CEDC) whose stock price fell yesterday after a downgrade.

On the downside

Absaroka Capital initiated coverage of Yongye International (Nasdaq: YONG) with a Conviction Sell rating yesterday. 

Tidewater (NYSE: TDW) disappointed with sharply lower fourth quarter earnings that fell far short of analyst expectations.

NEI's (Nasdaq: NEI) largest client will dual source one of its product lines which will reduce NEI's revenue by approximately $5 million to $7 million for the quarter ending September 30, 2011. Future revenue will decline by approximately $9 million to $11 million per quarter.

In the broad market, advancing issues outpaced decliners by margin of more than 7 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 835.

A surge in LinkedIn's stock price on its initial trading day lifted the markets during the midday with the Dow gaining 34 points 12,594. Nasdaq rose 9 points to 2824.

On the upside

Disclosure that billionaire investor David Tepper purchased shares of US Airways (NYSE: LCC) in the first quarter lifted shares of the airline.

Investing website Tickerspy added social networking site Renren (NYSE: RENN) to its Chinese Internet Stocks index.

Delta Air Line (NYSE: DAL) will cut costs by reducing capacity, aircraft count and trans-Atlantic flights.

On the downside

YRC Worldwide (Nasdaq: YRCW) warned that it may be delisted from Nasdaq as the transportation services company restructures. 

Advance Auto Parts (NYSE: AAP) disappointed with flat first quarter earnings that fell short of analyst expectations.

Williams-Sonoma (NYSE: WSM) reported sharply higher first quarter earnings that topped estimates but the stock price fell.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 833.

The markets opened higher with the Dow rising 27 points 12,587 as initial applications for unemployment benefits dropped. Nasdaq added 2 points to 2817.

On the upside

Petsmart (Nasdaq: PETM) reported higher first quarter earnings that beat analyst expectations prompting the company to raise its full year forecast.

A Seeking Alpha article said that rare earth metal prices are expected to rise due to increased demand and that MCP's (NYSE: MCP) margins will climb.

PURE Bioscience (Nasdaq: PURE) reported preliminary results that its patented silver dihydrogen citrate antimicrobial was effective in killing bacteria in the biofilm state.

On the downside

Fourth quarter earnings for SMART Technologies (Nasdaq: SMT) slipped to fall far short of analyst expectations. 

The Wall Street Journal reported that Big Lots (NYSE: BIG) is no longer for sale.

GameStop (NYSE: GME) reported higher first quarter earnings that topped estimates but the video game retailer warned that current quarter results will fall short of expectations.

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 added a point to 834.

The markets closed higher with the Dow climbing 80 points 12,560 as investors welcomed strong corporate earnings news. Nasdaq gained 31 points to 2815.

On the upside

SatCon Technology (Nasdaq: SATC) was listed by TheStreet as an alternative energy company with the best upside potential.

Eastman Kodak (NYSE: EK) chief executive Antonio Perez, chief financial officer Antoinette McCorvey and presiding board director Richard Braddock purchased shares in the company.

Quantum (Nasdaq: QTM) narrowed fourth quarter losses.

On the downside

RAIT Financial Trust (NYSE: RAS) announced a 1-for-3 reverse stock split effective after market close on June 30, 2011. 

North American Energy Partners (NYSE: NOA) warned that it must take a writedown of between $40 million to $45 million for the fiscal year that just ended related to the overburden removal contract with Canadian Natural Resources.

Shares of OfficeMax (NYSE: OMX) fell after rival Staples (Nasdaq: SPLS) disappointed with first quarter results below estimates and cut its full year outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 833.

Upbeat earnings lifted the markets during the midday with the Dow rising 25 points 12,504. Nasdaq gained 16 points to 2799.

On the upside

CBS (NYSE: CBS) announced that three new dramas and two comedies will be added to the television network's fall schedule.

Second quarter earnings climbed for Analog Devices (NYSE: ADI) as revenue rose and the chip maker increased its quarterly dividend.

Leeds Equity Partners will acquire Nobel Learning Communities (Nasdaq: NLCI) in a deal valued at approximately $149 million.

On the downside

Hershey (NYSE: HSY) announced the departure of chief executive David West. 

Coldwater Creek (Nasdaq: CWTR) blamed disappointing sales for warning of much wider than expected losses for the first quarter.

Aflac (NYSE: AFL) recorded losses of $77 million from the sale of its holdings in Irish Life & Permanent and Republic of Tunisia.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 823.

The markets opened mixed with the Dow slipping 8 points 12,470 while Nasdaq rose 7 points to 2790 over continued concerns about the health of the economic recovery.

On the upside

First quarter earnings for Dell (Nasdaq: DELL) nearly tripled to beat analyst expectations as the company cut costs.

SodaStream International (Nasdaq: SODA) reported higher first quarter earnings as revenue rose prompting the company to lift its full year guidance.

OxiGene (Nasdaq: OXGN) will present data on its thryroid and non-small cell lung cancer treatment Zybrestat at the American Society of Clinical Oncology meeting from June 3-7, 2011.

On the downside

Staples (Nasdaq: SPLS) reported higher first quarter earnings but the results fell short of analyst expectations prompting the office supplies retailer to cut its full year forecast. 

First quarter earnings rose for Chico's FAS (NYSE: CHS) but revenue missed estimates.

Celldex Therapeutics (Nasdaq: CLDX) priced its offering of 10 million common shares at the discounted price of $3.15 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 823.

Disappointing earnings and economic data sent the markets down to a lower close with the Dow dropping 68 points 12,479. Nasdaq edged up a fraction to 2783.

On the upside

A Seeking Alpha article listed Alpha Natural Resources (NYSE: ANR) to its list of top mining companies.

First quarter income rose for eLong (Nasdaq: LONG) to top analyst estimates and the company announced that Tencent Holdings acquired a 16% stake in the company for $84.4 million while Expedia increased its stake to 56%.

Goldman Sachs initiated coverage of Mako Surgical (Nasdaq: MAKO) with a Conviction Buy rating.

On the downside

Shares of Rambus (Nasdaq: RMBS) continued falling after a federal appeals court ruled on Friday that the company inappropriately destroyed documents related to a patent case. 

Unconfirmed reports circulated that Bank of America Merrill Lynch (NYSE: BAC) withdrew two Janus Capital Group (NYSE: JNS) funds from its portfolio.

China Digital TV (NYSE: STV) reported higher first quarter earnings but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by morethan 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 820.

The markets extended its losses during the midday with the Dow tumbling 105 points 12,443 over global economic recovery concerns. Nasdaq lost 7 points to 2775.

On the upside

Photronics (Nasdaq: PLAB) swung to a loss for the second quarter but the results were better than expected and revenue climbed to a record high.

Winn-Dixie (Nasdaq: WINN) reported higher third quarter earnings that surpassed analyst expectations by a wide margin.

Allied Irish Banks (NYSE: AIB) sold its 49.99% stake in Bulgarian-American Credit Bank for an undisclosed sum.

On the downside

Although first quarter income rose for Trina Solar (NYSE: TSL), the results fell far short of analyst expectation. 

Shares of FXCM (NYSE: FXCM) continued falling after yesterday's earnings miss prompted a downgrade.

FairPoint Communications (NYSE: FRP) swung to a first quarter profit due to a significant one-time pre-tax gain related to the company's bankruptcy reorganization but revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 818.

April new home construction tumbled to weigh the markets down to a lower open with the Dow losing 35 points 12,512. Nasdaq slipped 2 points to 2779.

On the upside

First quarter earnings slipped for Sino Clean Energy (Nasdaq: SCEI) but revenue climbed and the company affirmed its full year outlook.

Gulf Resources (Nasdaq: GFRE) impressed with sharply higher first quarter earnings that beat analyst expectations.

Saks (NYSE: SKS) reported higher first quarter earnings as revenue rose.

On the downside

Ctrip (Nasdaq: CTRP) reported higher first quarter earnings but the travel service forecast second quarter results below expectations. 

Hewlett-Packard (NYSE: HPQ) reported higher second quarter earnings that topped analyst estimates but the company lowered its full year guidance amidst a challenging global economy.

Douglas Dynamics (NYSE: PLOW) priced its secondary offering of 5 million common shares at the discounted price of $14.50 per share.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 821.


Concerns that Greece may default on its loans weighed the markets down to a lower close with the Dow falling 47 points 12,548. Nasdaq plunged 46 points to 2782.

On the upside

Top Image Systems (Nasdaq: TISA) launched new mobile banking solutions to include check deposits, utility payments and invoice payments.

CNinsure (Nasdaq: CISG) chairman and chief executive Yinan Hu offered to take the company private in a deal valued at approximately $953 million.

EnerNOC (Nasdaq: ENOC) expects revenue from its PJM demand response applications to exceed $275 million in 2014.

On the downside

Investors locked in profits on OxiGene (Nasdaq: OXGN) whose shares rose last week ahead of its earnings release Thursday after market close. 

Corrections Corporation of America (NYSE: CXW) increased its stock repurchase program by $100 million to $350 million.

Shares of Hypercom (NYSE: HYC) continued falling after the Justice Department filed suit on Friday to block VeriFone's acquisition of Hypercom.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 822.

The markets fell during the midday with the Dow slipping 13 points 12,581 as the federal government hit its debt limit and Greece's debt problems continued to mount. Nasdaq dropped 31 points to 2796.

On the upside

ARCA biopharma (Nasdaq: ABIO) president and chief executive Dr. Michael Bristow will present at the Heart Failure Congress in Gothenburg, Sweden this weekend.

Citi lifted its price target on FirstEnergy (NYSE: FE) to $46.

TPG Capital will take Primedia (NYSE: PRM) private in a deal valued at approximately $316.4 million.

On the downside

VanceInfo Technologies (NYSE: VIT) reported higher first quarter earnings as revenue rose but the stock price dropped. 

Investors locked in profits on Giant Interactive Group (NYSE: GA) after the company reported higher first quarter earnings that topped analyst estimates. Shares of the online game developer rose last week ahead of its earnings release.

First quarter earnings rose for FXCM (NYSE: FXCM) but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 828.

Renewed concerns about the European economy weighed the markets down to a lower open with the Dow slipping 13 points 12,582. Nasdaq fell 10 points to 2817.

On the upside

Stryker (NYSE: SYK) will pay approximately $304 million in cash to acquire competitor Orthovita (Nasdaq: VITA).

J.C. Penney (NYSE: JCP) reported higher first quarter earnings that topped  analyst estimates prompting the retailer to lift its full year outlook.

J. P. Morgan upgraded American Airlines parent AMR (NYSE: AMR) citing lower fuel costs.

On the downside

Nasdaq OMX Group (Nasdaq: NDAQ) and IntercontinentalExchange (NYSE: ICE) withdrew their $11 acquisition offer for NYSE Euronext (NYSE: NYX) citing regulatory obstacles to the deal. 

Lowe's (NYSE: LOW) blamed bad weather and challenging economic times for lower first quarter earnings that fell short of analyst expectations.

Shares of Rambus (Nasdaq: RMBS) continued falling after a federal appeals court ruled that the company inappropriately destroyed documents related to a patent case.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 831.

A greater than expected increase in core consumer prices sent the markets down to a sharply lower close with the Dow plunging 100 points 12,595. Nasdaq tumbled 34 points to 2828.

On the upside

Darling International (NYSE: DAR) impressed with sharply higher first quarter earnings that surged fourfold to easily surpass analyst expectations as revenue more than doubled.

Youku.com (NYSE: YOKU) announced a secondary offering of 8 million shares.

Atlas Energy (NYSE: APL) reversed year ago losses to post a profit for the first quarter.

On the downside

A Food and Drug Administration advisory panel recommended approval for BioMimetic Therapeutics' (Nasdaq: BMTI) Augment bone graft but the 12 to 6 vote raised concerns. 

Shares of Ener1 (Nasdaq: HEV) continued falling after reporting a much larger quarterly loss on Tuesday after market close.

China Shengda Packaging Group (Nasdaq: CPGI) disappointed with lower first quarter earnings as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 835.

Greece's expanding debt renewed fears of global financial instability sending the markets down during the midday with the Dow tumbling 90 points 12,605. Nasdaq dropped 26 points to 2836.

On the upside

Cyclacel Pharmaceuticals (Nasdaq: CYCC) narrowed first quarter losses.

A U. S. International Trade Commission judge ruled that Eastman Kodak (NYSE: EK) did not infringe on Apple's (Nasdaq: AAPL) digital camera patents.

Dillard's (NYSE: DDS) reported sharply higher first quarter earnings that beat analyst expectations by a wide margin.

On the downside

A federal appeals court ruled that Rambus (Nasdaq: RMBS) inappropriately shredded documents that were related to patent cases. 

CA (Nasdaq: CA) reported higher fourth quarter earnings but the results fell short of analyst expectations and the business software firm warned of a weak 2012 prompting a downgrade.

Evergreen Solar (Nasdaq: ESLR) widened first quarter losses and warned that it must raise capital in order to continue operations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 838.

Higher food and energy prices lifted consumer prices in April to weigh the markets down to a lower open with the Dow slipping 7 points 12,688. Nasdaq lost 3 points to 2859.

On the upside

Goldman Sachs upgraded Dean Foods (NYSE: DF) to a Buy rating.

Second quarter earnings surged for Agilent Technologies (NYSE: A) to surpass analyst expectations by a wide margin and the company forecast current quarter results ahead of estimates.

Shares of Vermillion (Nasdaq: VRML) continued climbing after a study published in Obstetrics & Gynecology reported that the company's OVA1 blood test more accurately identified cancerous ovarian masses in women than the currently recommended CA 125 blood test.

On the downside

Yahoo (Nasdaq: YHOO) said that Alipay was sold to Alibaba's chief executive Jack Ma without the knowledge or approval of the board. 

First quarter earnings slipped for Nvidia (Nasdaq: NVDA). Analysts cut their price target on the chipmaker and downgraded the stock citing competition concerns.

El Paso Pipeline Partners (NYSE: EPB) priced its offering of 14 million common units at the discounted price of $34.51 per unit.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 844.

The markets advanced to close higher with the Dow gaining 65 points 12,695 as foreclosure rates slowed and commodities fell. Nasdaq climbed 17 points to 2863.

On the upside

A study in the June edition of Obstetrics and Gynecology reported that using Vermillion's (Nasdaq: VRML) OVA1 blood test more accurately identified cancerous ovarian masses in women than the currently recommended CA 125 blood test.

Sunesis Pharmaceuticals (Nasdaq: SNSS) reversed year ago losses to post a profit for the first quarter.

Kemet (NYSE: KEM) reported sharply higher fourth quarter earnings as revenue climbed.

On the downside

Penson Worldwide (Nasdaq: PNSN) board member Thomas R. Johnson resigned after the revelation of a conflict of interest. 

The Department of Justice filed an antitrust suit to prevent Verifone System's (NYSE: PAY) acquisition of rival Hypercom (NYSE: HYC).

Flotek Industries (NYSE: FTK) reversed year ago losses to post a profit for the first quarter and announced a private placement of approximately 3.665 million common shares.

In the broad market, advancing issues outpaced decliners 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 gained 6 points to 847.

The markets traded mixed during the midday with the Dow losing 24 points 12,605 as initial applications for unemployment benefits dropped less than expected last week. Nasdaq added 2 points to 2847.

On the upside

Shares of Discovery Laboratories (Nasdaq: DSCO) continued climbing after reporting a smaller first quarter loss yesterday.

Bargain hunters snapped up shares of MBIA (NYSE: MBI). The mortgage insurer disappointed with wider first quarter losses earlier this week.

Tyson Foods (NYSE: TSN) announced plans to repurchase up to 22.5 million common shares.

On the downside

STEC (Nasdaq: STEC) shares fell for a second day after the company forecast disappointing second quarter results. 

Falling gold prices weighed down shares of Jaguar Mining (NYSE: JAG).

Rochdale Securities analyst Dick Bove downgraded Goldman Sachs (NYSE: GS) to a Sell rating saying that the Department of Justice will likely file a criminal charges against the brokerage firm.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 844.


The markets opened lower with the Dow falling 59 points 12,570 as April retail sales rose less than expected. Nasdaq lost 9 points to 2835.

On the upside

Sina (Nasdaq: SINA) reported lower first quarter earnings as the Chinese Web portal spent more for marketing and engineering its microblogging service Weibo but revenue rose to top analyst estimates.

First quarter earnings slipped for Symantec (Nasdaq: SYMC) but the results were better than expected.

Cloud Peak Energy (NYSE: CLD) won the lease for the West Antelope II North Coal Tract with its $297.7 million bid.

On the downside

Intel (NYSE: INTC) announced that it will sell up to 10 million shares of Clearwire (Nasdaq: CLWR). 

Cisco (Nasdaq: CSCO) disappointed with lower third quarter earnings and forecast current quarter results that fell far short of analyst expectations.

Falling home prices weighed down shares of Hovnanian Enterprises (NYSE: HOV).

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 838.

A widening of the nation's trade deficit sent the markets tumbling to a sharply lower close with the Dow plummeting 130 points 12,630. Nasdaq dropped 26 points to 2845.

On the upside

First quarter earnings for ZAGG (Nasdaq: ZAGG) surged more than fourfold after the company's iPad accessories were showcased on an episode of "The Oprah Winfrey Show."

DealReporter said that Globecomm Systems (Nasdaq: GCOM) retained the services of J. P. Morgan Chase & Co. to explore the possible sale of the company.

ChinaCast Education (Nasdaq: CAST) reported higher first quarter earnings as revenue soared.

On the downside

Ener1 (Nasdaq: HEV) widened first quarter losses prompting a downgrade. 

Mattson Technology (Nasdaq: MTSN) priced its public offering of 6.8 million common shares at the discounted price of $1.80 per share.

Valence Technology (Nasdaq: VLNC) announced the resignation of chief financial officer Ross Goolsby effective June 3, 2011.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 15 points to 840.

Disappointing corporate earnings sent the markets tumbling during the midday with the Dow plunging 162 points 12,597. Nasdaq plunged 38 points to 2833.

On the upside

Top Image Systems (Nasdaq: TISA) reversed year ago losses to post a profit for the first quarter.

Discovery Laboratories (Nasdaq: DSCO) narrowed first quarter losses.

Shares of OxiGene (Nasdaq: OXGN) continued climbing after both The Bedford Report and World Street Fundamentals issued reports yesterday highlighting the growth potential of the biopharmaceutical.

On the downside

Stec (Nasdaq: STEC) swung to a first quarter profit but the results missed analyst expectations and the company forecast current quarter results below estimates. 

Allos Therapeutics  (Nasdaq: ALTH) disappointed with a loss for the first quarter as sales of its blood cancer treatment Folotyn fell short of expectations.

Falling silver prices weighed down shares of Silver Wheaton (NYSE: SLW).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 841.

The nation's trade deficit climbed as oil prices surged. The markets opened lower with the Dow losing 15 points 12,745 while Nasdaq slipped 4 points to 2867.

On the upside

First quarter earnings surged for Macy's (NYSE: M) to surpass analyst expectations by a wide margin prompting the department store operator to lift its full year guidance.

Rovi (Nasdaq: ROVI) reported sharply lower first quarter earnings but the results beat expectations prompting an upgrade.

American International Group (NYSE: AIG) and the Treasury Department will sell 300 million shares of the global insurance company's stock to the public.

On the downside

IntraLinks Holdings (NYSE: IL) reversed year ago losses but revenue fell short of expectations and the company forecast second quarter results below estimates. 

Disney (NYSE: DIS) blamed the March earthquake and tsunami in Japan and the disappointing performance of "Mars Needs Moms" for lower second quarter earnings that missed expectations.

Starwood Property Trust (NYSE: STWD) priced its public offering of 22 million common shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 both on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 18 points to 837.

Merger and acquisition activity lifted the markets to a higher close with the Dow climbing 75 points 12,760. Nasdaq soared 28 points to 2871.

On the upside

Servicesource International (Nasdaq: SREV) reported first quarter earnings that topped analyst estimates.

Shares of OxiGene (Nasdaq: OXGN) climbed after research firm IMS Health projected global growth of 5% to 7% in 2011 for the biotech industry.

Mindray Medical International (NYSE: MR) reported higher first quarter earnings that beat expectations as revenue soared.

On the downside

SmartHeat (Nasdaq: HEAT) blamed lower sales along with increased expenses for an unexpected loss for the first quarter. 

Shares of Molycorp (NYSE: MCP) tumbled ahead of its earnings release after market close.

Sotheby's (NYSE: BID) 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 nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 855.

China's impressive trade surplus numbers eased fears of a global economic slowdown to lift the markets higher during the midday with the Dow rising 51 points 12,736. Nasdaq climbed 16 points to 2859.

On the upside

Callon Petroleum (NYSE: CPE) reported higher first quarter earnings as revenue rose.

First quarter earnings climbed for Medifast (NYSE: MED) to top analyst estimates as revenue increased.

Longtop Financial Technologies (NYSE: LFT) denied allegations by OLP Global and Citron Research that the company under contributed to employee benefits and that the company was related to Xiamen Longtop Human Resources Service.

On the downside

Universal Display (Nasdaq: PANL) blamed higher research and development expenses for reporting a wider than expected loss for the first quarter. 

InterMune's (Nasdaq: ITMN) largest institutional investor Warburg Pincus may sell some or all of its holdings in the biotech firm.

Boston Scientific (NYSE: BSX) announced the retirement of president and chief executive officer Ray Elliott effective December 31, 2011.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 851.

Acquisition news lifted the markets to a higher open with the Dow climbing 55 points 12,739. Nasdaq gained 15 points to 2858.

On the upside

Apollo Global Management will pay a premium of $5.50 per share in cash to acquire "American Idol" parent company CKx (Nasdaq: CKXE).

Dean Foods (NYSE: DF) reported lower first quarter earnings but the results surpassed analyst expectations.

Fossil (Nasdaq: FOSL) reported sharply higher first quarter earnings that beat analyst expectations as revenue climbed.

On the downside

BioMimetic Therapeutics (Nasdaq: BMTI) disappointed with a loss for the first quarter. 

Although MannKind (Nasdaq: MNKD) narrowed first quarter losses, the loss was greater than expected.

Mad Money's Jim Cramer said that Chinese social networking site Renren (NYSE: RENN) was too expensive.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 to 851.

Upbeat earnings lifted the markets to a higher close with the Dow gaining 45 points 12,684. Nasdaq rose 15 points to 2843.

On the upside

Rosetta Resources (Nasdaq: ROSE) reported higher first quarter earnings as revenue soared.

Bargain hunters lifted shares of Weight Watchers (NYSE: WTW), whose shares dropped on Friday despite reporting sharply higher first quarter earnings that easily topped analyst estimates.

The U. S. Army awarded a $63.4 million contract to Arotech (Nasdaq: ARTX) to design and develop 28 Virtual Clearance Training Suites.

On the downside

Shares of Renren (NYSE: RENN) continued falling as investors locked in profits on the Chinese social networking site. 

Gramercy Capital (NYSE: GKK) announced that $790 million in mortgage and mezzanine loans matured without repayment by borrowers.

Headwaters (NYSE: HW) disappointed by widening second quarter losses as expenses climbed.

In the broad market, advancing issues outpaced decliners 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 climbed 9 to 842.

Rising commodity prices lifted shares of energy and mining stocks during the midday with the Dow climbing 72 points 12,710. Nasdaq gained 19 points to 2846.

On the upside

TechCrunch reported that Nuance Communications (Nasdaq: NUAN) and Apple (Nasdaq: AAPL) have engaged in discussions to explore a possible acquisition or partnership.

Bargain hunters lifted shares of SandRidge Energy (NYSE: SD), whose shares dropped last week after disappointing with a first quarter loss.

Hertz (NYSE: HTZ) increased its acquisition offer for Dollar Thrifty Automotive Group (NYSE: DTG) to approximately $2.25 billion in cash and stock.

On the downside

Mortgage bond investors are organizing efforts to force H&R Block (NYSE: HRB) to repurchase billions of dollars worth of bad mortgages. 

Thompson Creek Metals (NYSE: TC) will offer $300 million in senior unsecured notes.

Nexen (NYSE: NXY) announced that operations in Yemen have been suspended due to labor strikes by the Masila Labour Union.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 to 840.

The markets opened lower with the Dow slipping 9 points 12,629 as crude oil prices rebounded. Nasdaq eased a point to 2825.

On the upside

Citigroup (NYSE: C) commenced a 10-for-1 reverse stock split on Friday after market close.

Sysco (NYSE: SYY) reported higher third quarter earnings that topped estimates.

Sino Clean Energy (Nasdaq: SCEI) announced a plan to repurchase up to $20 million worth of common stock.

On the downside

Delta Airlines (NYSE: DAL) will reduce its workforce through a voluntary early retirement plan. 

Tyson Foods (NYSE: TSN) blamed higher feed expenses for flat second quarter earnings that missed analyst expectations.

Sky-mobi (Nasdaq: MOBI) reversed year ago losses to post a profit for the fourth quarter but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added fraction to 834.

The markets closed higher with the Dow gaining 54 points 12,638 as the nations employers added more jobs than expected in April. Nasdaq climbed 12 points to 2831.

On the upside

OXiGENE (Nasdaq: OXGN) will release first quarter earnings on Thursday, May 12, 2011.

Fluor (NYSE: FLR) reported higher first quarter earnings that topped analyst estimates.

Janney Capital Markets initiated coverage of Barnes & Noble (NYSE: BKS) with a Buy rating.

On the downside

Sino Clean Energy (Nasdaq: SCEI) chairman Baowen Ren purchased 115,000 shares of company stock to increase his stake to 14.4%. 

WebMD (Nasdaq: WBMD) reversed year ago losses to post a profit for the first quarter but the stock price dropped.

Shares of Georgia Gulf (NYSE: GGC) continued falling after reporting lower first quarter earnings yesterday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 833.

Investors welcomed upbeat April job gains data to lift the markets higher during the midday with the Dow climbing 67 points 12,651. Nasdaq gained 17 points to 2831.

On the upside

First quarter earnings surged for Power One (Nasdaq: PWER) as revenue soared.

Sequenom (Nasdaq: SQNM) narrowed first quarter losses as revenue rose and the company completed the sample testing phase of its SensiGene fetal Down syndrome blood test.

A Seeking Alpha article listed Endeavor Silver (NYSE: EXK) as one of seven profitable silver stocks.

On the downside

National Bank of Greece (NYSE: NBG) chief executive Apostolos Tamvakakis said that banks must merge in order to salvage the Greek banking system. 

Warnaco Group (NYSE: WRC) disappointed with lower first quarter earnings that fell short of analyst expectations.

Spreadtrum Communications (Nasdaq: SPRD) reported sharply higher first quarter earnings but gross margin slipped as research and development expenses climbed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 835.

Strong job creation numbers in April lifted the markets to a sharply higher open with the Dow soaring 151 points 12,735. Nasdaq climbed 28 points to 2843.

On the upside

First quarter earnings for Sapient (Nasdaq: SAPE) nearly doubled to beat analyst expectations and the company forecast second quarter revenue ahead of estimates.

Warner Chilcott (Nasdaq: WCRX) widened first quarter losses but the results were better than expected.

A possible increase in power prices lifted shares of Korea Electric Power (NYSE: KEP).

On the downside

Obagi Medical Products (Nasdaq: OMPI) disappointed with a loss for the first quarter prompting a downgrade. 

BRE Properties (NYSE: BRE) priced its public offering of 8 million common shares at $48 per share.

Weight Watchers International (NYSE: WTW) reported sharply higher first quarter earnings that surpassed analyst expectations but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 836.

Demand for gasoline dropped as prices climbed. The markets closed sharply lower with the Dow plunging 139 points 12,585. Nasdaq fell 13 points to 2814.

On the upside

Falling crude oil prices lifted shares of American Airlines parent AMR (NYSE: AMR) and Delta Air Lines (NYSE: DAL).

Leap Wireless (Nasdaq: LEAP) widened first quarter losses but revenue rose to surpass analyst expectations.

Men's Wearhouse (NYSE: MW) cited higher same store sales for lifting its first quarter earnings guidance.

On the downside

Global Industries (Nasdaq: GLBL) widened first quarter losses as revenue dropped. 

Zalicus (Nasdaq: ZLCS) blamed sharply lower revenue for widening first quarter losses.

Tumbling silver prices weighed down shares of Endeavor Silver (NYSE: EIG) and Silvercorp Metals (NYSE: SVM).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 829.

The markets traded mixed during the midday with the Dow losing 37 points 12,686 despite a surprise jump in jobless claims as crude oil prices fell. Nasdaq gained 9 points to 2837.

On the upside

Polypore International (NYSE: PPO) impressed with sharply higher first quarter earnings that surpassed analyst expectations by a wide margin.

Lee Enterprises chief executive Mary E. Junck (NYSE: LEE) purchased 100,000 shares of company stock.

Novellus Systems (Nasdaq: NVLS) priced its offering of $600 million in senior convertible notes to institutional investors.

On the downside

Savient Pharmaceuticals (Nasdaq: SVNT) widened first quarter losses. 

Timberland (NYSE: TBL) disappointed with lower first quarter earnings that fell far short of analyst expectations.

Investors locked in profits on Renren (NYSE: RENN), which climbed in its market debut yesterday.

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 835.

An unexpected jump in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow dropping 77 points 12,645. Nasdaq slipped 5 points to 2822.

On the upside

Privately held INC Research offered approximately $232 million in cash to acquire Kendle International (Nasdaq: KNDL).

JDS Uniphase (Nasdaq: JDSU) reversed year ago losses to post a better than expected profit for the third quarter as revenue surged.

ON Semiconductor (Nasdaq: ONNN) reported higher first quarter earnings as revenue soared.

On the downside

Lloyds Banking Group (NYSE: LYG) blamed significant provisions for payment protection insurance for swinging to a much greater than expected loss first quarter. 

Aeropostale (NYSE: ARO) reported a 7% drop in same store sales for the first quarter and cut its earnings outlook.

PMI Group (NYSE: PMI) narrowed first quarter losses but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 831.


Disappointing job creation numbers weighed the markets down to a lower close with the Dow tumbling 83 points 12,723. Nasdaq lost 13 points to 2828.

On the upside

CBS (NYSE: CBS) reversed year ago losses to post a better than expected profit for the first quarter and doubled its quarterly dividend from 5 cents per share to 10 cents per share.

Shares of RPX (Nasdaq: RPXC) surged on its first trading day.

Barnes & Noble (NYSE: BKS) delivered a free software upgrade to its Nook Color adding tablet-like functionalities to the e-reader.

On the downside

Vonage Holdings (NYSE: VG) reported higher first quarter earnings but revenue dropped. 

Wabash National (NYSE: WNC) reversed year ago losses to post a profit for the first quarter but revenue fell short of analyst expectations.

Harris (NYSE: HRS) disappointed with lower third quarter earnings prompting the telecommunications equipment firm to lower its sales guidance for the full year.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 832.

The markets extended its losses during the midday with the Dow plunging 129 points 12,678 over concerns of weak job growth. Nasdaq plummeted 31 points to 2810.

On the upside

Glu Mobile (Nasdaq: GLUU) narrowed first quarter losses more than expected and forecast second quarter results ahead of estimates.

ConAgra Foods (NYSE: CAG) increased its acquisition offer for Ralcorp Holdings (NYSE: RAH) to $4.9 billion.

First quarter income for ValueClick (Nasdaq: VCLK) slipped but the results surpassed analyst expectations prompting an upgrade.

On the downside

OpenTable (Nasdaq: OPEN) reported higher first quarter earnings and announced the departure of chief executive officer Jeffrey Jordan. 

Century Aluminum (Nasdaq: CENX) reported higher first quarter earnings but the results fell short of analyst expectations.

Brigham Exploration (NYSE: BEXP) disappointed with sharply lower first quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 829.

The markets opened sharply lower with the Dow tumbling 94 points 12,713 after the Institute for Supply Management reported that its service sector index dropped to 52.8 in April. Nasdaq fell 9 points to 2831.

On the upside

Applied Materials (Nasdaq: AMAT) will pay a premium of approximately $4.9 billion in cash to acquire Varian Semiconductor Associates (Nasdaq: VSEA).

MGM Resorts (NYSE: MGM) narrowed first quarter losses more than expected as revenue rose.

Second quarter earnings more than doubled for Green Mountain Grocers (Nasdaq: GMCR) to surpass analyst expectations.

On the downside

Las Vegas Sands (NYSE: LVS) reported higher first quarter earnings but the results fell far short of analyst expectations. 

Sonus Networks (Nasdaq: SONS) widened first quarter losses.

Quanta Services (NYSE: PWR) blamed higher expenses for an unexpected loss for the first quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 7 points to 836.

Corporate earnings disappointed to weigh the markets down with the Dow closing flat at 12,807. Nasdaq tumbled 20 points to 2841.

On the upside

Incyte (Nasdaq: INCY) narrowed first quarter losses more than expected.

Rising rare earth prices lifted shares of Molycorp (NYSE: MCP).

FirstEnergy (NYSE: FE) reported lower first quarter earnings but revenue topped estimates and the company forecast 2011 through 2013 income above expectations.

On the downside

Citron Research questioned company data released by Sky-Mobi (Nasdaq: MOBI). 

Retreating gold prices weighed down shares of Eldorado Gold (NYSE: EGO).

Anadigics (Nasdaq: ANAD) widened first quarter losses and warned of lower second quarter revenue.

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 fell 11 points to 843.

Disappointing earnings weighed the markets down during the midday with the Dow losing 23 points to 12,779. Nasdaq dropped 31 points to 2830.

On the upside

Novartis will acquire the global rights to one of ARCA biopharma's (Nasdaq: ABIO) early stage molecular targets.

Herbalife (NYSE: HLF) reported sharply higher first quarter earnings that beat analyst expectations and lifted its full year earnings outlook.

FBR Capital upgraded Hercules Offshore (NYSE: HERO) to an Outperform rating.

On the downside

Computer Sciences (NYSE: CSC) blamed a contract revision with the UK National Health Service for slashing its 2011 guidance for the second time. 

Vishay Intertechnology (NYSE: VSH) reported higher first quarter earnings but revenue fell short of analyst expectations.

Local.com (Nasdaq: LOCM) disappointed by swinging to a loss for the first quarter and forecasting second quarter results below analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 841.

The markets opened mixed with the Dow rising 9 points to 12,817 while Nasdaq fell 14 points to 2849 over mixed corporate earnings.

On the upside

Kulicke & Soffa (Nasdaq: KLIC) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin and forecast third quarter results well ahead of estimates.

First quarter earnings for Sirius XM Radio (Nasdaq: SIRI) surged as subscribers climbed.

MetroPCS (NYSE: PCS) reported higher first quarter earnings as revenue climbed.

On the downside

Sify Technologies (Nasdaq: SIFY) disappointed with a loss for the fourth quarter. 

Although third quarter earnings for Parexel International (Nasdaq: PRXL) rose, the results fell short of analyst expectations and the biopharmaceutical services firm cut its full year guidance.

Lee Enterprises (NYSE: LEE) swung to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 852.

The markets closed in negative territory with the Dow easing 3 points to 12,807 despite upbeat earnings and the death of Osama bin Laden as airlines increased fuel surcharges. Nasdaq lost 9 points to 2864.

On the upside

Shares of Forest Laboratories (NYSE: FRX) climbed on speculation that Valeant Pharmaceuticals (NYSE: VRX) may acquire drug company.

Ralcorp (Nasdaq: RAH) reported sharply higher second quarter earnings that surpassed analyst estimates and forecast full year results ahead of expectations.

Horizon Lines (NYSE: HRZ) and former parent company CSX (NYSE: CSX) signed an agreement reducing charter payments Horizon will make to CSX by $12 million.

On the downside

Shares of Sify Technologies (Nasdaq: SIFY) tumbled ahead of its earnings release tomorrow morning. 

Investors locked in profits on Sky-mobi (Nasdaq: MOBI), whose shares climbed last week after the launch of its OPENSKY plug-in enabling social functions on standalone mobile applications.

Falling silver prices weighed down shares of First Majestic Silver (NYSE: AG), Endeavor Silver (NYSE: EXK), Silver Wheaton (NYSE: SLW) and Silvercorp Metals (NYSE: SVM).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 854.

The markets retreated from earlier highs but managed to trade above the flatline with the Dow gaining 22 points to 12,832 as oil prices rebounded. Nasdaq eased a fraction to 2873.

On the upside

The Food and Drug Administration approved Spectrum Pharmaceuticals' (Nasdaq: SPPI) Fusilev for treating advanced colorectal cancer.

French luxury goods retailer PPR offered $607.5 million in cash to acquire sports apparel company Volcom (Nasdaq: VLCM).

D. Medical (Nasdaq: DMED) received Food and Drug Administration approval to market its Spring Universal Infusion Sets.

On the downside

Hovnanian Enterprises (NYSE: HOV) announced the pricing of its senior secured notes offering on Friday after market close. 

Pilgrim's Pride (NYSE: PPC) reported on Friday that first quarter losses widened more than expected as feed expenses climbed.

Ryland Group (NYSE: RYL) declared on Friday after market close a quarterly dividend of $0.03 cents per share payable on July 29 to shareholders of record on July 15.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 858.

News of Osama bin Laden's death lifted the markets to higher open with the Dow rising 55 points to 12,866. Nasdaq gained 12 points to 2886.

On the upside

Arch Coal (NYSE: ACI) will pay approximately $3.4 billion in cash to acquire International Coal Group (NYSE: ICO).

TiVo (Nasdaq: TIVO) will receive $500 million from Dish Network (Nasdaq: DISH) and EchoStar as settlement for a patent infringement lawsuit (Nasdaq: SATS).

Barron's wrote that International Paper's (NYSE: IP) stock will climb as earnings are expected to impress.

On the downside

YRC Worldwide (Nasdaq: YRCW) announced a restructuring plan that would leave current shareholders holding only 2.5% of common shares. 

Tenet Heathcare (NYSE: THC) received an increased acquisition offer from Community Health Systems (NYSE: CYH) but investors expect Tenet to reject the bid.

Valeant Pharmaceuticals (NYSE: VRX) lost its bid for Cephalon (Nasdaq: CEPH), which accepted a $6.8 billion cash offer from Teva (Nasdaq: TEVA).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 865.

About this Archive

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

April 2011 is the previous archive.

June 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