June 2011 Archives

Greece qualified for additional financial assistance to avoid bankruptcy after approving new austerity measures yesterday. Investors applauded the move by boosting the markets to a sharply higher with the Dow leaping 152 points to 12,414. Nasdaq jumped 33 points to 2773.

On the upside

Shares of Spreadtrum Communications (Nasdaq: SPRD) continued rising after the company refuted allegations of improper accounting practices yesterday.

Fourth quarter earnings surged for Worthington Industries (NYSE: WOR) to surpass analyst expectations prompting the metal processing company to increase its quarterly dividend from 10 cents per share to 12 cents per share.

Yingli Green Energy (NYSE: YGE) will supply Huanghe Hydropower Development with 110 MW PV modules.

On the downside

Investors locked in profits on Alanco Technologies (Nasdaq: ALAN), whose shares more than doubled yesterday after announcing a merger agreement with YuuZoo.

Qiao Xing Universal Resources (Nasdaq: XING) requested an extension to file its annual report.

Morgan Stanley (NYSE: MS) will take a second quarter charge of approximately $1.7 billion related to the conversion of Mitsubishi UFJ Financial Group's stake in the company into common shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 827.

Continued enthusiasm for Greece's newly adopted austerity measures lifted the markets sharply higher during the midday with the Dow surging 131 points to 12,392. Nasdaq soared 31 points to 2771.

On the upside

Piper Jaffray upgraded Hansen Medical (Nasdaq: HNSN) to an Overweight rating and lifted its price target from $3 to $5.

Shares of First Connecticut Bancorp (Nasdaq: FBNK) rose on its first trading day.

Molycorp (NYSE: MCP) stock rose after safety issues delayed commissioning of rival Lynas' Malaysian rare-earths refinery.

On the downside

Motley Fool said that YRC Worldwide (Nasdaq: YRCW) will have trouble avoiding bankruptcy.

Shares of CF Industries (NYSE: CF) fell after the Department of Agriculture reported that more acres of corn were planted than expected.

Former Peak Performance Solutions chief executive officer Steven Isaac and two directors sued Ebix (Nasdaq: EBIX), which acquired Peak Performance, alleging that Ebix inflated its earnings.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 827.

The markets opened sharply higher with the Dow soaring 127 points to 12,389 after Greece approved new austerity measures yesterday. Nasdaq climbed 27 points to 2767.

On the upside

Best Buy (NYSE: BBY) will offer Hewlett-Packard's (NYSE: HPQ) HP Touchpad Wi-Fi version beginning Friday.

The Department of Energy will conditionally guarantee $4.5 billion in loans for three California projects being developed by First Solar (Nasdaq: FSLR).

Lloyds Banking Group (NYSE: LYB) will cut 15,000 jobs and reduce overseas operations in order to save approximately $2.4 billion annually.

On the downside

Syntroleum (Nasdaq: SYNM) priced its public offering of 15.9 million common shares at $1.58 per share.

Six institutional investors will purchase $30 million worth of Cell Therapeutics (Nasdaq: CTIC) preferred stock and warrants.

Bank of America (NYSE: BAC) will eliminate 60 jobs from its equities division.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 826.

The markets closed higher with the Dow climbing 72 points to 12,261 after the Greek Parliament adopted new austerity measures. Nasdaq gained 11 points to 2740.

On the upside

Shares of HomeAway (Nasdaq: AWAY) surged in its market debut.

The Federal Reserve unveiled new debit card fee caps that were higher than expected which lifted shares of Visa (NYSE: V).

Credit Suisse initiated coverage of Renren (NYSE: RENN) with an Outperform rating and a price target of $9.20.

On the downside

Mircrosoft (Nasdaq: MSFT) signed a patent agreement to receive royalties from Velocity Micro for Android-based devices but the stock price fell.

Shares of Altria Group (NYSE: MO) continued falling after the Supreme Court yesterday allowed a settlement to stand that requires tobacco companies to pay for an anti-smoking campaign in Louisiana.

China Automotive Systems (Nasdaq: CAAS) reversed year ago losses to post a profit for the fourth quarter but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 819.

Greece approved more stringent austerity measures to lift the markets higher during the midday with the Dow gaining 63 points to 12,248. Nasdaq rose 9 points to 2738.

On the upside

Alanco Technologies (Nasdaq: ALAN) will merge with global mobile social networking company YuuZoo.

Spreadtrum Communications (Nasdaq: SPRD) declared a quarterly dividend of $0.05 per American Depositary Share payable on July 26, 2011 to shareholders of record July 11, 2011.

McMoRan (NYSE: MMR) reported that there was potential for large accumulations of hydrocarbons at deeper depths in the shallow waters of the Gulf of Mexico.

On the downside

Jefferies downgraded Greenbrier (NYSE: GBX) to a Hold rating and cut its price target to $22 from $32.

Omnova Solutions (NYSE: OMN) reported lower second quarter earnings that fell short of analyst expectations.

Exfo (Nasdaq: AHT) swung to a profit for the third quarter but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 820.

The markets opened flat with the Dow edging up a fraction to 12,189 even as Greece adopted new austerity measures in order to receive a second bailout. Nasdaq slipped 4 points to 2724.

On the upside

BJ's Wholesale Club (NYSE: BJ) will be taken private in a deal valued at approximately $2.8 billion by Leonard Green and CVC Capital Partners.

Deutsche Bank upgraded U. S. Steel (NYSE: X) to a Buy rating.

Monsanto (NYSE: MON) reported sharply higher third quarter earnings that surpassed analyst expectations prompting the company to lift its full year outlook.

On the downside

Shaw Group (NYSE: SHAW) disappointed by swinging to a loss for the third quarter as expenses rose while sales fell. The engineering company forecast fourth quarter results below expectations.

KB Homes (NYSE: KBH) blamed significant charges for widening second quarter losses more than expected.

Ashford Hospitality Trust (NYSE: AHT) priced its public offering of 7 million common shares at $12.50 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 817.

Investors welcomed news that home prices edged up for the first time in eight months to lift the markets to a sharply higher close with the Dow leaping 145 points to 12,188. Nasdaq jumped 41 points to 2729.

On the upside

The Street listed Glu Mobile (Nasdaq: GLUU) as one of eight consumer goods stocks under $5 with much upside potential.

Grupo Pao de Acucar (NYSE: CBD) will be acquired by an investor group that may combine the Brazilian retailer with French retailer Carrefour.

A Seeking Alpha article listed Qihoo 360 Technology (NYSE: QIHU) as an undervalued stock.

Westport Innovations (Nasdaq: WPRT) partnered with General Motors (NYSE: GM) to develop advanced natural gas engine technology.

On the downside

A Seeking Alpha article yesterday listed Clean Diesel Technologies (Nasdaq: CDTI) as one of seven highly speculative stocks.

Ford Motor (NYSE: F) warned of weak sales in Europe as governments cut spending.

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 12 points to 817.

Consumer confidence fell in June but the markets advanced during the midday with the Dow surging 125 points to 12,168 over optimism that Greece will avoid a default by approving new austerity measures. Nasdaq soared 31 points to 2720.

On the upside

Nike (NYSE: NKE) reported higher fourth quarter earnings that beat analyst expectations as revenue rose.

Bargain hunters lifted shares of Renren (NYSE: RENN), whose shares have dropped recently as investors shunned Chinese stocks.

Monster Worldwide (NYSE: MWW) launched its BeKnown professional networking application for Facebook.

On the downside

Muddy Waters questioned Spreadtrum's (Nasdaq: SPRD) financial statements and disclosed a short position in the chip maker.

Shares of Altria (NYSE: MO) fell after the Supreme Court decided not to review a $241 million judgment with an additional $37 million in interest against the tobacco industry requiring tobacco companies to pay for a Louisiana anti-smoking campaign.

JPMorgan's (NYSE: JPM) China venture received a permit to enter the securities market in China but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 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 814.

Expectations that Greece will approve an austerity plan lifted the markets to a sharply higher open with the Dow soaring 111 points to 12,155. Nasdaq climbed 24 points to 2712.

On the upside

Youku.com (NYSE: YOKU) launched Youku Premium which will offer 400 to 450 Warner Bros. New Releases and Catalog titles in addition to its current content library of more than 300 movies and 3,880 educational programs.

Accenture (NYSE: ACN) will replace Marshall & Ilsley (NYSE: MI) on the S&P 500 after market close July 5. Marshall & Ilsley will be acquired by the Bank of Montreal (NYSE: BMO).

Canaccord Genuity analyst Bobby Burleson upgraded OmniVision Technologies (Nasdaq: OVTI) to a Buy rating and lifted his price target from $33 to $38 citing strong momentum for the third quarter.

On the downside

Enbridge Energy Partners (NYSE: EEP) priced its public offering of 7 million common units at $30 per unit.

The New York Appeals Court will allow a lawsuit filed by Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and other large banks challenging the restructuring of MBIA (NYSE: MBI) to proceed.

Investors locked in profits on YRC Worldwide (Nasdaq: YRCW), whose shares surged yesterday on news that AYM Capital purchased shares in the transportation services company.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 811.

Greece may repay loans to France on a slower schedule alleviating fears of a default. The markets closed sharply higher with the Dow surging 108 points to 12,043. Nasdaq soared 35 points to 2688.

On the upside

XOMA (Nasdaq: XOMA) discovered two new classes of antibodies that activate or sensitize the insulin receptor in vivo.

Horizon Lines (NYSE: HRZ) amended its credit facility in order to comply with financial covenants.

Republic Airways (Nasdaq: RJET) will add nonstop seasonal flights from Branson, Missouri to both Austin, Texas and Phoenix, Arizona.

On the downside

Shares of Durrect (Nasdaq: DRRX) continued falling after the Food and Drug Adminstration rejected on Friday the abuse-resistant pain treatment Remoxy that the company developed with Pain Therapeutics (Nasdaq: PTIE).

JMP Securities analyst Alex Gauna affirmed his Outperform rating for Nvidia (Nasdaq: NVDA) but the stock price fell.

Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca (NYSE: AZN) reported positive results over the weekend for their Type 2 diabetes treatment but both stock prices dropped.

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 805.

Reports that the government was inching closer to a deal to lower spending while raising the debt limit lifted the markets higher during the midday with the Dow soaring 103 points to 12,037. Nasdaq climbed 24 points to 2677.

On the upside

Hedge fund AYM Capital recently acquired shares of transportation services firm YRC Worldwide (Nasdaq: YRCW).

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

Shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) all rose on reports that global regulators will increase capitalization requirements in order to stabilize banking systems.

On the downside

A Barron's article said that mortgage insurers MGIC Investment (NYSE: MTG), PMI Group (NYSE: PMI) and Radian Group (NYSE: RDN) will be unable to meet default claims.

Shares of Zhongpin (Nasdaq: HOGS) dropped ahead of its presentation at the Oppenheimner 11th Annual Consumer Conference in Boston onJune 28 and 29.

A Seeking Alpha article warned that Hampton Roads Bankshares (Nasdaq: HMPR) was overpriced due for a correction.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 801.

The markets opened higher with the Dow soaring 103 points to 12,037 over expectations that the Federal Reserve will continue buying Treasuries even after its qualitative easing program ends. Nasdaq climbed 24 points to 2677.

On the upside

LDK Solar (NYSE: LDK) will repurchase up to $110 million worth of American Depositary Shares.

Pfizer (NYSE: PFE) said on Friday after market close that it is exploring a possible strategic transaction with Icagen (Nasdaq: ICGN).

Metropolitan Health Networks will pay approximately $416 million to acquire Continucare (NYSE: CNU).

On the downside

Shares of Pain Therapeutics (NYSE: PTIE) continued falling after the Food and Drug Administration delayed approval of the company's abuse resistant pain treatment Remoxy on Friday.

Exco Resources (NYSE: XCO) chief executive Douglas Miller was unable to raise capital to take the company private and may instead acquire a small stake in the company.

Concerns that recent weak 3D movie ticket sales was more than a temporary dip but a continuing trend weighed down shares of RealD (NYSE: RLD).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 803.

Fears that Italy may face debt problems sent the markets tumbling to a sharply lower close with the Dow plunging 115 points to 11,934. Nasdaq dropped 33 points to 2652.

On the upside

Tibco Software (Nasdaq: TIBX) reported sharply higher second quarter earnings that topped analyst expectations as revenue climbed.

British magazine Profit & Loss named Citi's (NYSE: C) CitiFX Pro the Best Retail FX Platform.

On the downside

Micron Technology's (Nasdaq: MU) earnings miss weighed down shares of SanDisk (Nasdaq: SNDK) .

United Continental (NYSE: UAL) reported slower revenue growth in June.

Concerns about Italy's debt problems renewed fears of a Greek default to send shares of National Bank of Greece (NYSE: NBG) lower.

The International Energy Agency's decision yesterday to release 60 million barrels of oil continued to weigh down refiners Holly (NYSE: HOC), Frontier Oil (NYSE: FTO), Tesoro (NYSE: TSO) and Western Refining (NYSE: WNR).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 797.

The markets extended its losses during the midday with the Dow dropping 75 points to 11,974 as concerns rose about the financial health of Italy's banks. Nasdaq fell 26 points to 2660.

On the upside

Shares of Acura Pharmaceuticals (Nasdaq: ACUR) rose after the Food and Drug Administration rejected Pain Therapeutics' (Nasdaq: PTIE) severe pain medication. The regulatory agency approved Acura's paid drug Oxecta earlier this week.

A Seeking Alpha article said that KV Pharmaceutical (NYSE: KVA) was pursuing a path to profitability by becoming a specialty pharmaceutical.

On the downside

Brocade Communications Systems (Nasdaq: BRCD) named Dan Fairfax to replace Richard Deranleau as chief financial officer, who resigned from the firm on Monday, June 20.

Valero Energy (NYSE: VLO) reassured investors that maintenance work at its Corpus Christi, Texas refinery will not impact production but the stock price dropped.

Finish Line (Nasdaq: FINL) reported higher first quarter earnings but revenue fell short of analyst expectations.

STR Holdings (NYSE: STRI) cut its second quarter revenue and earnings guidance prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 798.

The Commerce Department reported an upward revision of the gross domestic product to 1.9% for the first quarter but economic expansion at 1.9% is considered weak. The markets opened lower with the Dow falling 47 points to 12,002 while Nasdaq dropped 24 points to 2662.

On the upside

The Williams Cos. offered $4.9 billion to acquire Southern Union (NYSE: SUG).

Excel Trust (NYSE: EXL) priced its public offering of 12.5 million common shares at $10.94 per share.

Majesco Entertainment (Nasdaq: COOL) joined the Russell Microcap Index today.

On the downside

Third quarter earnings plunged for Micron Technology (Nasdaq: MU) to fall far short of analyst expectations as chip prices dropped.

Oracle (Nasdaq: ORCL) reported higher fourth quarter earnings but hardware sales fell.

The Food and Drug Administration rejected the severe pain treatment Remoxy developed by Pfizer (NYSE: PFE), Pain Therapeutics (Nasdaq: PTIE) and Durect (Nasdaq: DRRX).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 802.

The markets recovered earlier losses to close mixed with the Dow dropping 59 points to 12,050 as Greece approved a five year austerity plan. Nasdaq gained 17 points to 2686.

On the upside

Morgan Stanley analyst Katy Hubert recommended Western Digital (NYSE: WDC) saying that the hard disk maker is poised to surpass earnings estimates.

National Bank of Greece (NYSE: NBG) said that non-performing loans are expected to peak in 2011 and that when market conditions are right, the bank will sell a 20% stake in its Finansbank unit.

Steelcase (NYSE: SCS) reversed year ago losses to post a better than expected profit for the first quarter.

On the downside

Ener1 (Nasdaq: HEV) will have to take a charge of an estimated $35.4 million related to loans receivable from Think Holdings which just filed for bankruptcy.

Shares of Synovus Financial (NYSE: SNV) continued falling after Wunderlich Securities analyst Kevin Reynolds downgraded the company yesterday to a Hold rating.

Excel Trust (NYSE: EXL) announced a 12.5 million common share follow-on offering.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 802.

The markets tumbled during the midday with the Dow plunging 145 points to 11,964 as jobless claims rose while new home sales dropped. Nasdaq slipped 5 points to 2663.

On the upside

Sharply lower crude oil prices lifted shares of American Airlines parent AMR (NYSE: AMR), Delta Air Lines (NYSE: DAL), United Continental (NYSE: UAL) and US Airways (NYSE: LCC).

Footwear and sports apparel retailer Genesco (NYSE: GCO) paid approximately $112.6 million to acquire British footwear firm Schuh Group.

Herman Miller (Nasdaq: MLHR) reported sharply higher fourth quarter earnings that topped analyst estimates as revenue soared.

On the downside

Flow International (Nasdaq: FLOW) reported higher fourth quarter earnings but the results fell short of expectations prompting a downgrade.

Treehouse Foods (NYSE: THS) blamed higher expenses for lowering its full year guidance.

Yahoo (Nasdaq: YHOO) stock fell as the company held its annual shareholders meeting.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 796.

Federal Reserve chairman commented yesterday that the nation's economic growth was slower than expected sending the markets down to a sharply lower open with the Dow plummeting 198 points to 11,911. Nasdaq tumbled 26 points to 2642.

On the upside

Bed Bath & Beyond (Nasdaq: BBBY) reported higher first quarter earnings that surpassed analyst expectations as revenue rose.

MSMB Capital Management offered a premium of $4.25 per share to acquire Seracare Life Sciences (Nasdaq: SRLS).

Pfizer (NYSE: PFE) and Bristol-Myers Squibb (NYSE: BMY) announced upbeat results from a late stage clinical trial of its stroke prevention medication Eliquis.

On the downside

GTx (Nasdaq: GTXI) priced its public offering of 10 million common shares at $4.75 per share.

Rumors swirled that Electronic Arts (Nasdaq: ERTS) was close to finalizing a deal to acquire casual gaming company PopCap for $1 billion.

Falling oil prices weighed down shares of Exxon Mobil (NYSE: XOM).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 790.

The markets closed lower with the Dow dropping 80 points to 12,109 over disappointment that the Federal Reserve failed to increase the stimulus package. Nasdaq fell 18 points to 2669.

On the upside

ZAGG (Nasdaq: ZAGG) paid approximately $105 million in cash and stock to acquire mobile device accessories company iFrogz.

Deutsche Bank upgraded Western Refining (NYSE: WNR) to a Buy rating.

Analysts anticipate an expansion of the partnership between Clearwire (Nasdaq: CLWR) and Sprint (NYSE: S).

On the downside

A Seeking Alpha article said that Liz Claiborne (NYSE: LIZ) and Talbots (NYSE: TLB) is a poorly run companies among women's apparel retailers.

Shares of Nanosphere (Nasdaq: NSPH) continued falling after the Food and Drug Administration rejected the company's verigene clopidogrel metabolism nucleic acid test yesterday.

Piper Jaffray analyst Gene Munster expects Apple (Nasdaq: AAPL) to introduce the Apple TV at the end of 2012 rather than at the end of this year as many have speculated.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 799.

The Federal Reserve will maintain record low interest rates saying that economic growth was slower than expected. The markets advanced into positive territory during the midday with the Dow edging up 4 points to 12,194 while Nasdaq added 3 points to 2690.

On the upside

AeroVironment (Nasdaq: AVAV) reported higher fourth quarter earnings that beat analyst expectations.

A Seeking Alpha contributor wrote that ReneSola (NYSE: SOL) was extremely undervalued.

Collins Stewart upgraded Hanwha SolarOne (Nasdaq: HSOL) to a Buy rating.

On the downside

La-Z-Boy (NYSE: LZB) disappointed with lower fourth quarter earnings as expenses rose.

ECOtality (Nasdaq: ECTY) priced its secondary offering of 8.5 million common shares at $2.50 per share.

A New Mexico Public Regulation Commission recommended a two phase rate increase of $85 million for PNM Resources (NYSE: PNM), rejecting an additions rider of $20 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 809.

The markets opened lower with the Dow losing 15 points to 12,174 ahead of the Federal Reserve's interest rate decision. Nasdaq slipped 3 points to 2684.

On the upside

Achillion Pharmaceuticals (Nasdaq: ACHN) priced its public offering of 9.6 million common shares at $5.90 per share to raise approximately $52.9 million.

CarMax (NYSE: KMX) reported higher first quarter earnings that topped analyst expectations as revenue rose.

Third quarter earnings doubled for Jabil Circuit (NYSE: JBL) to beat analyst estimates as revenue climbed.

On the downside

Adobe Systems (Nasdaq: ADBE) reported sharply higher second quarter earnings that topped expectations but analysts were disappointed with its current quarter outlook.

Philips Electronics (NYSE: PHG) blamed weak demand for warning that second quarter results will fall short of expectations.

FSI International (Nasdaq: FSII) disappointed with lower third quarter earnings as revenue fell.

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 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 805.

Optimism that the Greek government will approve austerity measures required to received additional financial assistance lifted the markets to a sharply higher close with the Dow surging 109 points to 12,190. Nasdaq leaped 57 points to 2687.

On the upside

Goldman Sachs upgraded Patriot Coal (NYSE: PCX ) to Conviction Buy yesterday.

Rising silver prices lifted shares of First Majestic Silver (NYSE: AG), Endeavour Silver (NYSE: EXK) and Silvercorp Metals (NYSE: SVM).

Wave Systems (Nasdaq: WAVX) filed a $30 million shelf registration to replace an expiring shelf registration.

On the downside

Investors locked in profits on Acura Pharmaceuticals (Nasdaq: ACUR), whose shares surged yesterday on news that the Food and Drug Administration approved the company's pain medication Oxecta.

Gevo (Nasdaq: GEVO) updated the airline industry yesterday at the Paris Air Show on its progress in developing biojet fuel.

Barnes & Noble (NYSE: BKS) widened fourth quarter losses more than expected.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points at 806.

The markets advanced during the midday with the Dow soaring 100 points to 12,180 as home sales fell less than expected. Nasdaq surged 47 points to 2677.

On the upside

MarbridgeConsulting.com reported yesterday that Qihoo 360 (NYSE: QIHU) partnered with Avira to jointly develop anti-virus technology.

BPZ Energy (NYSE: BPZ) will hold its annual shareholders meeting on June 24, 2011 at the Westlake Club in Houston, Texas.

Susquehanna Bancshares (Nasdaq: SUSQ) will pay a premium of $343 million in cash and stock to acquire Tower Bancorp (Nasdaq: TOBC).

On the downside

Nanosphere (Nasdaq: NSPH) will submit additional data to the Food and Drug Administration after the regulatory agency rejected the company's Verigene Clopidogrel Metabolism Nucleic Acid Test premarket approval application.

Gevo (Nasdaq: GEVO) updated the airline industry yesterday at the Paris Air Show on its progress in developing biojet fuel.

Investors locked in profits on Dex One (NYSE: DEXO), whose shares surged yesterday after announcing a partnership with Google (Nasdaq: GOOG).

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 14 points at 803.

Sales of previously owned homes fell in May but the drop was smaller than expected. The markets opened higher with the Dow gaining 62 points to 12,142 while Nasdaq climbed 37 points to 2667.

On the upside

Seeking Alpha contributor Chris Tomsovic wrote that National Bank of Greece (NYSE: NBG) appeared to be undervalued.

Level 3 Communications (Nasdaq: LVLT) will expand its network services into Telx's data center in Clifton, New Jersey.

China Real Estate Investment agreed to be Baidu's (Nasdaq: BIDU) premier strategic online real estate partner.

On the downside

Prospect Capital (Nasdaq: PSEC) priced its public offering of 10 million common shares at $10.15 per share.

Walgreen (NYSE: WAG) reported higher third quarter earnings but the stock price tumbled when the pharmacy benefits manager announced that it will no longer participate in the Express Scripts (Nasdaq: ESRX) network beginning January 1, 2012.

Renren (NYSE: RENN) narrowed first quarter losses. While the results and current quarter outlook both met analyst estimates, investors expected better performance.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points at 801.

The European Union will provide Greece with an additional loan of 12 billion euros if the country approves stricter austerity measures. The markets closed higher with the Dow climbing 76 points to 12,080 while Nasdaq gained 13 points to 2629.

On the upside

Wall Street Cheat Sheet listed Talbots (NYSE: TLB) as one of last week's hot stocks.

Bargain hunters snapped up shares of online radio Pandora (NYSE: P), whose shares tumbled after making its market debut last week at $20 per share.

Silvercorp Metals (NYSE: SVM) announced on Friday after market close plans to repurchase up to 10 million common shares.

On the downside

Evercore Partners initiated coverage of Dice Holdings (NYSE: DHX) with an Overweight rating but the stock price fell.

Deutsche Bank analyst Jonathan Goldberg downgraded Skyworks Solutions (Nasdaq: SWKS) to a Hold rating.

Apple (Nasdaq: AAPL) added 14 more products to its patent infringement lawsuit against Samsung.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points at 788.

The markets advanced during the midday with the Dow gaining 68 points to 12,073 as Greek finance minister Evangelos Venizelos assured the global community that he would presure his government to approve new austerity measures. Nasdaq rose 16 points to 2632.

On the upside

Office Depot (NYSE: ODP) began accepting pre-orders for Hewlett-Packard's (Nasdaq: HPQ) TouchPad tablet. Separately, chief executive Neil Austrian indicated to an Oppenheimer analyst that the office supplies retailer may explore a possible merger with OfficeMax (NYSE: OMX).

Piper Jaffray upgraded Molycorp (NYSE: MCP) to an Overweight rating while J.P. Morgan lifted its price target for the rare earths company.

Shares of Renren (NYSE: RENN) climbed ahead of its earnings release after market close.

On the downside

Investors locked in profits on BPZ Resources (NYSE: BPZ), whose shares climbed last week after the oil and natural gas company provided resource estimates for Block Z-1.

A New York Times article detailed the millions earned by brokerages, law firms and insiders from LinkedIn's (NYSE: LNKD) initial public offering.

Sanford Bernstein analyst Pierre Ferragu downgraded Research in Motion (Nasdaq: RIMM) to an Underperform rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points at 788.
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European finance ministers demanded further austerity measures in Greece before finalizing another round of loans for the beleaguered nation. The Dow rose 51 points to 12,055 while Nasdaq added 3 points to 2620.

On the upside

Harbin Electric (Nasdaq: HRBN) chairman and chief executive Tianfu Yang will pay a premium of $24 per share in cash to acquire the electric motor maker.

Dex One (NYSE: DEXO) joined the Google (Nasdaq: GOOG) AdWords Certified Partners program.

The Food and Drug Administration approved Acura Pharmaceuticals' (Nasdaq: ACUR) and Pfizer's (NYSE: PFE) pain treatment Oxecta.

On the downside

Hanmi Financial (Nasdaq: HAFC) commenced a public offering of $75 million worth of common shares.

Shares of A-Power Energy Generation (Nasdaq: APWR) continued falling after the resignation of board member Robert B. Leckie last week.

Janney Capital Markets downgraded BJ's Wholesale (NYSE: BJ) to a Neutral rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 781.

Optimism that European leaders were close to finalizing a financial aid package for Greece lifted the Dow 42 points to close at 12,004. Nasdaq lost 7 points to 2616.

On the upside

Shares of National Bank of Greece (NYSE: NBG) rose as European leaders inch closer to finalizing a financial aid package for Greece.

Retreating oil prices lifted shares of United Continental (NYSE: UAL).

Primo Water (Nasdaq: PRMW) priced its public offering of 6 million common shares at $11.26 per share.

On the downside

Shares of Yuhe International (Nasdaq: YUII) continued falling after the company released incremental documentation related to an acquisition in December 2009.

A-Power Energy Generation (Nasdaq: APWR) board member Robert B. Leckie resigend.

Deer Consumer Products (Nasdaq: DEER) announced that there were no negative company developments that caused the stock price to drop.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 781.

Markets Mixed At Midday

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The markets traded mixed during the midday with the Dow rising 47 points to 12,009 while Nasdaq eased a point to 2622 even as France and Germany finalize a financial aid package for Greece.

On the upside

Harbin Electric (Nasdaq: HRBN) refuted allegations by Citron Research against chief executive Yang Tianfu saying that the accusations were intended to drive down the stock price.

BPZ Energy (NYSE: BPZ) provided gas and oil resource estimates for its offshore Block Z-1.

Youku.com (NYSE: YOKU) will grow and expand its original content programming platform.

On the downside

Shares of Standard & Poor's parent company The McGraw-Hill Companies (NYSE: MHP) fell after the Wall Street Journal reported a Securities and Exchange Commission investigation into possible fraud charges against credit ratings agencies for their role in the mortgage meltdown.

Citigroup downgraded Research in Motion (Nasdaq: RIMM) supplier Celestica (NYSE: CLS) to a Sell rating.

Cleveland BioLabs (Nasdaq: CBLI) announced a registered direct offering to raise approximately $23.5 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 781.

A possible financial aid deal for Greece lifted the markets to a higher open with the Dow gaining 72 points to 12,034 while Nasdaq rose 8 points to 2632.

On the upside

Banco Santander (NYSE: STD) chairman Emilio Botin said that the bank's number of non-performing loans has peaked.

Zoran (Nasdaq: ZRAN) agreed to be acquired by CSR at a lower cash and stock price of $484 million.

Newcastle (NYSE: NCT) declared a quarterly dividend of 10 cents per common share payable July 29, 2011 to shareholders of record July 15, 2011.

On the downside

The Wall Street Journal reported that the Securities and Exchange Commission is investigating possible fraud by Moody's (NYSE: MCO) in mortgage bond deals that precipitated the financial crisis.

Research in Motion (NYSE: RIMM) reported lower first quarter earnings and cut its full year outlook prompting downgrades.

Lender Processing Services (NYSE: LPS) slashed its second quarter outlook as the number of loan defaults and new loans drop.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 789.

Upbeat Economic Data Lifts Dow

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Improving home construction pace along with a drop in jobless claims lifted the Dow to a higher close with the blue chip index gaining 64 points to 11,961. Nasdaq slipped 7 points to 2623.

On the upside

F.N.B. (NYSE: FNB) will acquire Parkvale Financial (Nasdaq: PVSA) in an all stock deal valued at approximately $130 million.

Actuant (NYSE: ATU) reported higher third quarter earnings prompting the company to lift its full year revenue guidance.

Multiband (Nasdaq: MBND) will pay approximately $22.2 million to acquire WPCS International (Nasdaq: WPCS).

On the downside

Yuhe International (Nasdaq: YUII) released incremental documentation related to the company's acquisition of 13 breeder farms in December 2009 after Seeking Alpha contributor The Geo Team alleged that the purchase was never completed.

Jefferies initiated coverage of Renren (NYSE: RENN) with a Hold rating.

Winnebago Industries (NYSE: WGO) disappointed with sharply lower third quarter earnings that fell far short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 781.

The markets traded mixed during the midday with the Dow climbing 55 points to 11,953 as upbeat economic data tempered concerns of a Greek default. Nasdaq lost 5 points to 2626.

On the upside

Odyssey Marine Exploration (Nasdaq: OMEX) priced its public offering of 4.8 million common shares at $3.05 per share.

Smithfield Foods (NYSE: SFD) swung to a better than expected profit for the fourth quarter as revenue climbed.

Allos Therapeutics (Nasdaq: ALTH) reported the activation of 59 sites and the enrollment of 98 patients in COMPLETE, an international registry collecting treatment data on patients with peripheral T-cell lymphoma.

On the downside

Citron Research alleged that Harbin Electric (Nasdaq: HRBN) submitted fraudulent SEC filings and committed loan fraud.

Pier 1 Imports (NYSE: PIR) reported sharply higher first quarter earnings that topped analyst estimates as revenue rose but the stock price fell.

Continued concerns of a Greek default weighed down shares of National Bank of Greece (NYSE: NBG).

In the broad market, advancing issues outpaced decliners 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 gained 5 points to 784.

A drop in initial applications for unemployment benefits lifted the markets to a higher open with the Dow gaining 49 points to 11,946. Nasdaq added 4 points to 2636.

On the upside

Energy Transfer Equity (NYSE: ETE) will pay approximately $4.11 billion to acquire rival pipeline operator Southern Union (NYSE: SUG).

Kroger (NYSE: KR) reported higher first quarter earnings that beat analyst expectations as revenue rose prompting the grocery store chain to lift its full year outlook.

DG FastChannel (Nasdaq: DGIT) will pay approximately $418 million in cash to acquire MediaMind Technologies (Nasdaq: MDMD).

On the downside

Finisar (Nasdaq: FNSR) reported higher third quarter earnings but revenue fell short of analyst expectations and the optical networking equipment company forecast current quarter results below estimates.

Finisar's (Nasdaq: FNSR) disappointing results and outlook weighed down shares of rival optical networking company JDS Uniphase (Nasdaq: JDSU).

Investors locked in profits on Pandora (NYSE: P), which made its market debut yesterday.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 781.

Violent protests against austerity measures rocked Greece to send domestic markets tumbling to a sharply lower close with the Dow plunging 178 points to 11,897. Nasdaq plummeted 47 points to 2631.

On the upside

Stein Mart (Nasdaq: SMRT) will repurchase an additional 2.5 million common shares.

NF Energy Saving (Nasdaq: NFEC) will hold its annual shareholder meeting on Monday, June 27, 2011 in Shenyang, China.

Fourth quarter earnings more than doubled for Korn/Ferry International (NYSE: KFY) to surpass analyst expectations as revenue rose.

On the downside

The Food and Drug Administration provided guidance to Cell Therapeutics (Nasdaq: CTIC) about resubmitting the company's new drug application for its non-Hodgkins lymphoma treatment pixantrone.

The Wall Street Journal reported that Sina (Nasdaq: SINA) chief executive defended a plan for insiders to sell shares of the company.

Retreating copper prices weighed down shares of Freeport-McMoRan Copper & Gold (NYSE: FCX).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 779.

The markets extended its losses during the midday with the Dow plummeting 171 points to 11,904 as protests in Greece turned violent. Nasdaq tumbled 40 points to 2637.

On the upside

Ener1 (Nasdaq: HEV) and the Russian Federal Grid Company will demonstrate a fully operational, lithium-ion, distributed energy storage system at the 15th annual St. Petersburg International Economic Forum.

Shares of Office Depot (NYSE: ODP) continued rising after the company began taking pre-orders for the Toshiba Thrive Tablet yesterday.

China Medical Technologies (Nasdaq: CMED) major shareholder Chengxuan purchased 110,000 American Depositary Shares of the company in the open market and will purchase additional shares.

On the downside

Owens-Illinois (NYSE: OI) blamed higher expenses for lowering its second quarter guidance.

Scotts Miracle-Gro (NYSE: SMG) warned that full year results will miss analyst expectations due to inclement weather.

Aveo Pharmaceuticals (Nasdaq: AVEO) will raise approximately $100.6 million through the sale of 5.8 million shares of stock at the discounted price of $17.50.

In the broad market, declining issues outpaced advancers 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 dropped 9 points to 784.

Greek citizens protested austerity measures sparking fears of political unrest as Greece grapples with a severe debt crisis. The markets opened sharply lower with the Dow tumbling 86 points to 11,989 while Nasdaq fell 17 points to 2661.

On the upside

Brean Murray initiated coverage of Boston Scientific (NYSE: BSX) with a Hold rating.

Several private equity firms have engaged in discussions to acquire DST Systems (NYSE: DST).

Shares of RiT Technologies (Nasdaq: RITT) continued climbing after announcing a strategic partnership with Samsung Fiber Optics yesterday.

On the downside

A majority of SunPower (Nasdaq: SPWRA) shareholders accepted Total's all-cash tender offer.

Capstone Turbine (Nasdaq: CPST) widened fourth quarter losses more than expected as expenses climbed.

Apple (Nasdaq: AAPL) agreed to pay a license fee to settle a patent dispute with Nokia (NYSE: NOK).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 789.

Reports that China's consumer price index and producer price index rose lifted domestic markets to a sharply higher close with the Dow leaping 123 points to 12,076. Nasdaq surged 39 points to 2678.

On the upside

Office Depot (NYSE: ODP) began taking pre-sale orders for the Toshiba Thrive Tablet today with delivery beginning on July 10.

A report that the Food and Drug Administration will not recommend a ban on menthol cigarettes as originally feared lifted shares of Lorillard (NYSE: LO).

RiT Technologies (Nasdaq: RITT) partnered with Samsung Fiber Optics to market, sell and distribute RiT's PatchView intelligent infrastructure management solution.

On the downside

PURE Bioscience (Nasdaq: PURE) widened third quarter losses.

JP Morgan analyst Rod Hall lowered his revenue and earnings outlook for Research in Motion (Nasdaq: RIMM) saying that the company will delay the launch of its BlackBerry Bold 9900.

Sanford C. Bernstein analyst John McDonald said in a research note that Bank of America (NYSE: BAC) could potentially report up to $27 billion in mortgage related losses from now until 2013.

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 14 points to 793.

May retail sales slipped less that analysts expected to lift the markets sharply higher during the midday with the Dow surging 136 points to 12,089. Nasdaq leaped 40 points to 2680.

On the upside

J.C. Penney (NYSE: JCP) appointed Apple (Nasdaq: AAPL) retail executive Ron Johnson to the position of chief executive officer effective November 1, 2011.

Piper Jaffray initiated coverage of NetQin Mobile (NYSE: NQ) with an Overweight rating while Canaccord Genuity initiated coverage with a Buy rating.

Sequans Communications (NYSE: SQNS) partnered with Gemtek to develop a new TD-LTE desktop CPE for the Indian market.

On the downside

Shares of K-V Pharmaceutical (NYSE: KVA) fell ahead of its annual report investor conference call after market close.

CNBC reported that Congress was investigating a smallpox antiviral contract valued at up to $2.8 billion that was awarded to Siga Technologies (Nasdaq: SIGA).

RBC Capital downgraded Cisco Systems (Nasdaq: CSCO) to an Underperform rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 794.

The markets opened higher with the Dow soaring 127 points to 12,080 as retail sales in May fell less than expected. Nasdaq leaped 39 points to 2678.

On the upside

First quarter earnings slipped for Best Buy (NYSE: BBY) but the results topped analyst estimates.

LML Payment Systems (Nasdaq: LMLP) reversed year ago losses to post a profit for the fourth quarter.

Bargain hunters lifted share of E-Commerce China Dangdang (NYSE: DANG), Youku.com (NYSE: YOKU) and Renren (NYSE: RENN) .

On the downside

Majesco Entertainment (Nasdaq: COOL) reversed year ago losses to post a profit for the second quarter but the stock price fell.

Avis Budget (NYSE: CAR) will pay approximately $1 billion to acquire Avis Europe sending shares of Dollar Thrifty (NYSE: DTG) tumbling. Regulators have been reviewing offers to purchase Dollar Thrifty from Avis and Hertz (NYSE: HTZ).

AngioDynamics (Nasdaq: ANGO) announced the immediate resignation of chief executive officer Jan Keltjens and issued a fourth quarter outlook that fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 789.

The markets closed flat with the Dow adding a point to 11,952 despite merger and acquisition activity as Standard & Poor's downgraded Greece's credit rating. Nasdaq lost 4 points to 2639.

On the upside

Transatlantic Holdings (NYSE: TRH) will merge with Allied World Assurance (NYSE: AWH).

William Blair initiated coverage of Boingo Wireless (Nasdaq: WIFI) with an Outperform rating while Deutsche Bank initiated coverage with a Buy rating.

Shares of Majesco Entertainment (Nasdaq: COOL) rose ahead of its earnings release after market close.

On the downside

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

Sino Clean Energy (Nasdaq: SCEI) fell over concerns that China's economy will slow.

Nomura analysts expect Samsung to dethrone Nokia (NYSE: NOK) as the world's largest mobile device maker.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 777.

The insider trading conviction of three Wall Street traders weighed the markets down during the midday with the Dow losing 20 points to 11,931. Nasdaq fell 9 points to 2634.

On the upside

Morgan Stanley analyst Ravi Shanker upgraded A123 Systems (Nasdaq: AONE) to an Overweight rating and set a price target of $9.

Graham Packaging (NYSE: GRM), which already agreed to be purchased by Silgan Holdings, received an unsolicited, higher acquisition offer of approximately $1.6 billion in cash.

Honeywell International (NYSE: HON) will pay approximately $491 million in cash to acquire EMS Technologies (Nasdaq: ELMG).

On the downside

Concerns that China's economy will slow its pace of growth weighed down shares of E-Commerce China Dangdan (NYSE: DANG), Renren (NYSE: RENN) and Youku.com (NYSE: YOKU).

Shares of Molycorp (NYSE: MCP) continued falling after announcing a public offering of 10 million common shares at $51 per share last week.

Quanex Building Products (NYSE: NX) disappointed by swinging to a loss for the second quarter and lowering its full year revenue guidance.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 776.

Corporate consolidations lifted the markets to a higher open with the Dow rising 56 points to 12,008. Nasdaq gained 12 points to 2655.

On the upside

Private equity firm Vector Capital will pay approximately $281.8 million to acquire Gerber Scientific (NYSE: GRB).

Citi Venture Capital International will take Ness Technologies (Nasdaq: NSTC) private in an all cash deal valued at approximately $307 million.

Hiking boot maker Timberland (NYSE: TBL) will be acquired by VF Corp. (NYSE: VFC) for approximately $2 billion.

On the downside

Robert W. Baird downgraded Fairchild Semiconductor (NYSE: FCS) to a Neutral rating.

The Justice Department is investigating the production and distribution process for seven of Gilead Sciences' (Nasdaq: GILD) drugs.

The Wall Street Journal reported that Regions Financial (NYSE: RF) may have to pay $200 million to settle civil charges by the Securities and Exchange Commission of fraud related to subprime securities committed by the bank's Morgan Keegan unit.

In the broad market, advancing issues outpaced decliners 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 added 3 points to 783.

The markets plummeted to close sharply lower with the Dow stumbling 172 points to 11,951 as investors worried about the faltering economy. Nasdaq plummeted 41 points to 2643.

On the upside

Shares of Coffee Holding (Nasdaq: JVA) continued rising after reporting sharply higher second quarter earnings yesterday.

The Wisconsin Housing and Economic Development Authority partnered with MGIC Investment (NYSE: MTG) subsidiary eMagic.com to develop a secure web-based portal for loan package submissions.

Eastman Kodak (Nasdaq: EK) chief executive M. Antonio Perez and senior vice president Pradeep Jotwani both purchased shares in the company recently.

On the downside

J. P. Morgan reported that demand for replacement tires dropped in May weighing down shares of Cooper Tire & Rubber (NYSE: CTB).

Shares of Beazer Homes (NYSE: BZH) fell after StockCall.com issued a report saying that the residential construction industry will continue to struggle.

Diodes (Nasdaq: DIOD) warned that second quarter margins will miss expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 779.

Dow Falls Below 12,000

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The markets extended its losses during the midday with the Dow plummeting 134 points to 11,991 over continued concerns about the stagnant economic recovery. Nasdaq tumbled 29 points to 2655.

On the upside

Chelsea Therapeutics (Nasdaq: CHTP) reported positive Phase III results for its symptomatic neurogenic orthostatic hypotension treatment Northera prompting Roth Capital to lift its price target on the pharmaceutical from $6 to $18.

Morgan Stanley said that steel prices are poised to recover and recommended that investors purchase AK Steel (NYSE: AKS).

Micromet (Nasdaq:  MITI) reported upbeat results from a midstage clinical trial of its leukemia treatment blinatumomab.

On the downside

In the Bedford Report's examination of the office supplies industry, Staples (Nasdaq: SPLS) chief executive Ron Sargent suggested that Office Depot (NYSE: ODP) and OfficeMax (NYSE: OMX) should merge.

Stifel Nicolaus analyst Jeff Osborne cited falling solar wafer prices for downgrading MEMC Electronic Materials (NYSE: WFR).

Bank of America-Merrill Lynch downgraded Zale (NYSE: ZLC) to a Neutral rating citing limited upside potential.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 780.

Renewed concerns of a Greek default sent the markets tumbling to a sharply lower open with the Dow plunging 116 points to 12,008. Nasdaq dropped 24 points to 2660.

On the upside

The Department of Justice completed its review of Advantest's $1.1 billion acquisition of Verigy (Nasdaq: VRGY).

Bargain hunters lifted shares of Molycorp (NYSE: MCP) whose shares fell after announcing an offering of convertible senior notes and common shares.

Lululemon Athletica (Nasdaq: LULU) reported sharply higher first quarter earnings that beat expectations by a wide margin as revenue climbed.

On the downside

Diana Containerships (Nasdaq: DCIX) priced its public offering of 14.25 million common shares at $7.50 per share.

RealD (NYSE: RLD) reversed year ago losses to post a profit for the fourth quarter but analysts noted the waning interest in 3-D movies.

Goodyear Tire & Rubber (NYSE: GT) announced plans to sell its tire reinforcement wire division to Hyosung for $50 million.

In the broad market, declinin issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 785.

The markets closed higher with the Dow gaining 75 points to 12,124 as the nation's exports climbed to a record high in April. Nasdaq rose 9 points to 2684.

On the upside

First quarter earnings for Titan Machinery (Nasdaq: TITN) surged more than fourfold to beat analyst expectations by a wide margin prompting the company to lift its full year outlook.

Tempur Pedic (NYSE: TPX) expects operating margin to be greater than 25%.

GMX Resources (NYSE: GMXR) declared a quarterly dividend of $0.578125 per share payable on June 30, 2011 to holders of the company's 9.25% Series B preferred stock on June 20, 2011.

On the downside

Stricter margin requirements for Chinese stocks weighed down shares of E-Commerce China Dangdang (NYSE: DANG).

Motley Fool suggested that the stock price of IMAX (NYSE: IMAX) is too high.

General Maritime (NYSE: GMR) signed agreements with Jefferies & Co. and Dahlman Rose & Co. to sell up to $50 million worth of common stock .

In the broad market, advancing issues outpaced decliners 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 rose 4 points to 792.

Investors welcomed news that the nation's trade deficit narrowed in April. The markets traded higher with the Dow soaring 121 points to 12,170 while Nasdaq gained 14 points to 2690.

On the upside

Coffee Holding (Nasdaq: JVA) reported higher second quarter earnings as revenue surged.

Bargain hunters lifted shares of Talbots (NYSE: TLB), whose stock price dropped the last two days after the women's apparel retailer issued a disappointing outlook.

UBS upgraded Elan (NYSE: ELN) to a Buy rating.

On the downside

Shares of Renren (NYSE: RENN) fell after brokerage firms raised the margin requirements on Chinese stocks.

BioSante Pharmaceuticals (Nasdaq: BPAX) completed enrollment in its LibiGel cardiovascular and breast cancer safety study but the stock price fell.

Brazilian regulator Carlos Ragazzo said that the $3.8 billion merger in 2009 that formed BRF Brasil Foods (NYSE: BRFS) violated antitrust rules.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 794.

The markets opened higher with the Dow climbing 85 points to 12,134 as the nation's trade deficit narrowed in April. Nasdaq gained 11 points to 2687.

On the upside

A Seeking Alpha article listed Chimera Investment (NYSE: CIM) as an undervalued stock with much upside potential.

Moody's Investors Service upgraded Interpublic Group's (NYSE: IPG) senior unsecured rating.

The Department of Agriculture projected lower feed grain supplies for 2011/2012 which lifted shares of Potash (NYSE: POT) in anticipation of higher prices.

On the downside

Sina (Nasdaq: SINA) unveiled plans to develop an English-language microblog service but concerns of stringent policing of content weighed down shares of the Chinese web portal.

Shares of Fusion-io (NYSE: FIO) plunged on its first trading day.

Vertex Pharmaceuticals (Nasdaq: VRTX) reported positive results from a midstage clinical trial combining two different drugs to treat cystic fibrosis but analysts expected much greater improvement in patients.

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 rose 4 points to 792.


The Federal Reserve reported uneven economic recovery across the nation to weigh the markets down to a modestly lower close with the Dow falling 21 points to 12,048. Nasdaq dropped 26 points to 2675.

On the upside

IVolatility listed China-Biotics (Nasdaq: CHBT) as a stock with implied volatility movement.

Majesco Entertainment (Nasdaq: COOL) partnered with the National Basketball Association to develop a new basketball video game.

Shares of the Bank of Ireland (NYSE: IRE) rose even as bondholders united to fight huge losses that the Irish government plans to impose on the bondholders.

On the downside

Susquehanna initiated coverage of PMI Group (NYSE: PMI) with a Negative rating and initiated coverage of Radian (NYSE: RDN) with a Neutral rating.

LDK Solar's (NYSE: LDK) disappointing outlook weighed down shares of rival solar stocks Renesola (NYSE: SOL) and Trina Solar (NYSE: TSL).

Shares of Silvercorp Metals (NYSE: SVM) fell as silver prices retreated.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 788.

The markets extended its losses during the midday with the Dow losing 12 points to 12,058 after Fitch Ratins warned that the United States was in danger of losing its AAA sovereign ratings status. Nasdaq fell 25 points to 2676.

On the upside

Pharmasset (Nasdaq: VRUS) expanded the ELECTRON trial of its chronic hepatitis C treatment PSI-7977.

Canaccord cited greater than expectd output from the Marcellus Shale for upgrading Cabot Oil & Gas (NYSE: COG) to a Buy rating and lifting its price target from $58 to $85.

Ulta Salon (Nasdaq: ULTA) reported higher first quarter earnings that topped analyst estimates and forecast second quarter results ahead of expectations.

On the downside

MGIC Investment (NYSE: MTG) reported that it issued more than 13,000 new delinquency notices in May.

J. P. Morgan downgraded Impax Laboratories (Nasdaq: IPXL) to a Neutral rating.

Molycorp (NYSE: MCP) will offer $200 million in convertible senior notes.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 792.

The markets opened lower with the Dow slipping 2 points to 12,068 while Nasdaq lost 13 points to 2687 over disappointing earnings.

On the upside

Bargain hunters lifted shares of Talbots (NYSE: TLB), whose stock price plunged yesterday after the women's apparel retailer warned of a weak second quarter.

Paladin Labs acquired the exclusive commercialization rights to Somaxon Pharmaceuticals' (Nasdaq: SOMX) insomnia treatment Silenor in Canada, South America and Africa.

FiberTower (Nasdaq: FTWR) shareholders authorized yesterday a class of 10 million shares of preferred stock.

On the downside

Ciena (Nasdaq: CIEN) disappointed with a wider than expected loss for the second quarter and forecast current quarter revenue below analyst estimates.

QuinStreet (Nasdaq: QNST) forecast 2011 and 2012 revenue below analyst expectations prompting a downgrade.

Goldman Sachs cited slowing sales growth for lowering its earnings outlook for Office Depot (NYSE: ODP) through 2013.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 793.

The markets closed lower with the Dow losing 19 points to 12,070 as consumer borrowing increased in April. Nasdaq slipped a point to 2701.

On the upside

Ariad Pharmaceuticals (Nasdaq: ARIA) and Merck & Co. (NYSE: MRK) may be a reported upbeat results yesterday from a clinical trial of their cancer treatment ridaforolimus.

Elan (NYSE: ELN) presented at the Jefferies 2011 Global Healthcare Conference this morning.

FriendFinder Networks (Nasdaq: FFN) narrowed first quarter losses.

On the downside

The lockup period expired for E-Commerce China Dangdang (NYSE: DANG) and Youku.com (NYSE: YOKU).

FuelCell Energy (Nasdaq: FCEL) widened second quarter losses.

Investors took profits on OxiGene (Nasdaq: OXGN) whose shares rose yesterday after reporting positive trial results for its lung cancer treatment Zybrestat over the weekend.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 797.

Investors snapped up bargains to lift the markets higher during the midday with the Dow gaining 65 points to 12,155. Nasdaq climbed 15 points to 2717.

On the upside

Comments from Ahold that the international retailer may explore possible acquisitions fueled speculation that SuperValu (NYSE: SVU) may be a take-over target.

International Paper's (NYSE: IP) $3.38 billion cash offer to purchase Temple-Inland (NYSE: TIN) lifted shares of rival Weyerhaeser (NYSE: WY).

Skyworks Solutions (Nasdaq: SWKS) launched a new line of ultra low current, general purpose low noise amplifiers for diverse wireless applications.

On the downside

Allied Irish Banks (NYSE: AIB) bondholder Aurelius Capital Management argued in court that efforts by the Irish government to impose losses on bondholders of Allied Irish and the Bank of Ireland (NYSE: IRE) were illegal.

Navistar International (NYSE: NAV) reported higher first quarter earnings but the results fell far short of analyst expectations as expenses climbed.

Shares of Sunesis Pharmaceuticals (Nasdaq: SNSS) continued falling after announcing yesterday the study design for its Phase 3 VALOR trial of its acute myeloid leukemia treatment vosaroxin.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 802.

Bargain Hunters Lift Markets

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Bargain hunters lifted the markets to a higher open with the Dow climbing 66 points to 12,156. Nasdaq gained 12 points to 2715.

On the upside

Temple-Inland (NYSE: TIN) announced a shareholders rights plan in response to International Paper's (NYSE: IP) unsolicited acquisition offer of $30.60 per share.

LDK Solar (NYSE: LDK) completed the sale of a minority stake in its polysilicon manufacturing subsidiary LDK Silicon for $240 million.

Oppenheimer initiated coverage of Aeterna Zentaris (Nasdaq: AEZS) with an Outperform rating.

On the downside

Talbots (NYSE: TLB) swung to a first quarter profit but the women's apparel retailer warned of a disappointing second quarter.

Pep Boys (NYSE: PBY) disappointed with first quarter earnings that fell short of analyst expectations.

Stifel Nicolaus analyst Christopher King downgraded Sprint (NYSE: S) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 803.

Lingering concerns about the stalled economic recovery sent the markets down to a lower close with the Dow dropping 61 points to 12,089. Nasdaq tumbled 30 points to 2702.

On the upside

Delcath Systems (Nasdaq: DCTH) will present at The Jefferies 2011 Global Healthcare Conference tomorrow.

Hospital and healthcare organization software provider Epic named Dell (Nasdaq: DELL) its first Community Connect Certified consulting services firm for Electronic Medical Record and Electronic Practice Management services.

Intel (Nasdaq: INTC) reaffirmed its second quarter guidance.

On the downside

China TechFaith Wireless Technology (Nasdaq: CNTF) affirmed its second quarter guidance and announced that it will launch a 3D massive motion PC console game through its 17Vee Motion Game platform but the stock price dropped.

Sunesis Pharmaceuticals (Nasdaq: SNSS) announced the study design for its Phase 3 VALOR trial of its acute myeloid leukemia treatment vosaroxin.

Raymond James analyst Federico Rey Marino downgraded Credicorp (NYSE: BAP) citing political uncertainty in Peru following the election of former military officer Ollanta Humala to the presidency.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 795.

The markets traded lower during the midday with the Dow falling 31 points to 12,119 as economic recovery concerns continued to weigh on investors. Nasdaq dropped 18 points to 2714.

On the upside

Oxigene (Nasdaq: OXGN) reported positive results from a Phase 2 clinical trial of its lung cancer treatment Zybrestat and has regained compliance for listing on Nasdaq.

Majesco Entertainment (Nasdaq: COOL) will present at the Needham 6th Annual Internet & Digital Media Conference tomorrow.

Sealed Air's (NYSE: SEE) largest shareholder Davis Selected Advisors expressed concerns about the company's acquisition of Diversey Holdings and may oppose the deal.

On the downside

Concerns that Peru's newly elected president Ollanta Humala may increase mining royalties and impose additional government regulations sent shares of Compania de Minas Buenaventura (NYSE: BVN) and Southern Copper (NYSE: SCCO) tumbling.

Shares of The Bank of Ireland (NYSE: IRE) continued falling after the bank announced on Friday that it will issue new stock to raise up to $3.2 billion.

Orexigen Therapeutics (Nasdaq: OREX) stock extended its losses after announcing on Friday that it will no longer pursue regulatory approval for its weigh loss treatment Contrave.

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 6 points to 802.

Stocks opened lower as investors continued to worry about the lack of job creation and weakness in the economy.   The Dow lost 20 points to 12,130 while Nasdaq gave up 4 points to 2728 shortly after the opening bell.

On the upside

Shares of RXI Pharmaceutials (Nasdaq: RXII) rose after announcing positive phase 2 clinical results for its breast cancer drug treatment.

Investors eagerly watched the wires for an announcement by Apple (Nasdaq: AAPL) about its not-so-secret iCloud music hosting service.

BMO Capital upgraded shares of Starbucks (Nasdaq: SBUX) citing the coffee retailer's earnings rebound.

On the downside

Shares of Exelixis (Nasdaq: EXEL) tumbled after the drug developer reported an experimental drug led to side effects that caused 6 deaths in its clinical trials.

The banking sector was mostly lower.   Shares of Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) fell by more than 1%.

Shares of GenPro (Nasdaq: GPRO) fell on worries that potential buyers may not follow through with offers for the blood diagnostics company.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 806.

Concerns of a stalled economic recovery sent the markets down to a sharply lower close with the Dow tumbling 97 points to 12,151. Nasdaq plummeted 40 points to 2732.

On the upside

A Motley Fool article reported that Southwestern Energy's (Nasdaq: SWN) margins are higher than industry peers with its trailing 12 month figure better than the five month average.

Rumors that Ocwen Financial (NYSE: OCN) will acquire Litton Loan Servicing from Goldman Sachs (NYSE: GS) lifted shares of the subprime mortgage loan services firm.

A Seeking Alpha article listed Catalyst Pharmaceutical Partners (Nasdaq: CPRX) as an inexpensive biotechnology stock that is a prime acquisition target.

On the downside

Sina (Nasdaq: SINA) reported a loss for 2010 full year.  

Pilgrim's Pride (NYSE: PPC) appointed Fabio Sandri to the position of chief financial officer.

Investors locked in profits on Hill International (NYSE: HIL), whose shares surged yesterday after announcing a $1.5 billion contract to manage a residential construction project in Iraq.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 12 points to 808.

The markets traded lower during the midday with the Dow losing 58 points to 12,190 as investors digested disappointingly weak employment data. Nasdaq fell 18 points to 2755.

On the upside

Quiksilver (NYSE: ZQK) swung to a loss for the second quarter but the results were better than expected.

A preliminary agreement for a new bailout package for Greece lifted shares of National Bank of Greece (NYSE: NBG).

The New York Times (NYSE: NYT) named Jill Abramson to the position of executive editor beginning September 6 replacing Bill Keller.

On the downside

ProLogis (NYSE: PLD) completed its merger with AMB Property.  

Orexigen Therapeutics' (Nasdaq: OREX) announcement that it will halt the approval process in the United States for its obesity treatment Contrave weighed down shares of Vivus (Nasdaq: VVUS), which is developing its own weight loss drug Qnexa.

Shares of online employment solutions firm Monster Worldwide (NYSE: MWW) fell after the Labor Department reported that disappointingly few jobs were created in May and temporary work dropped.

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 tumbled 7 points to 812.

A disappointingly low number of new jobs in May along with an uptick in the nation's unemployment rate sent the markets down to a lower open with the Dow tumbling 100 points to 12,147. Nasdaq dropped 24 points to 2748.

On the upside

Goldman Sachs upgraded DryShips (Nasdaq: DRYS) to a Buy rating.

Tesla Motors (Nasdaq: TSLA) will raise capital through a follow-on offering of 5.3 million common shares priced at $28.76 per share.

GT Solar International (Nasdaq: SOLR) received a new $460.4 million contract to provide advanced sapphire crystallization furnaces to a client in China.

On the downside

Orexigen Therapeutics (Nasdaq: OREX) halted efforts to seek approval for the obesity treatment Contrave saying that The Food and Drug Adminstration's demands to study the cardiovascular risks associated with Contrave were too onerous.  

Newell Rubbermaid (NYSE: NWL) blamed the weak economy for lowering its 2011 full year outlook and warning that its second quarter results will miss expectations.

The Securites and Exchange Commission subpoenaed American Tower (NYSE: AMT) for tax accounting related documents from 2007 to the present.

In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 811.

It was a mixed close for the markets with the Dow losing 41 points to 12,248 as retailers posted mixed sales results for May. Nasdaq rose 4 points to 2773.

On the upside

Hill International (NYSE: HIL) received a contract valued at approximately $1.5 billion to manage the construction of a housing development in Iraq.

Harry Rady of Rady Asset Management said that General Maritime (NYSE: GMR) stock has the potential to triple.

Barclays Capital upgraded Southern Copper (NYSE: SCCO).

On the downside

The Fresh Market (Nasdaq: TFM) reported lower first quarter earnings despite higher revenue as expenses rose.  

Jones Group (NYSE: JNY) acquired European shoe retailer Kurt Geiger for $350 million in cash.

Shares of Arch Coal (NYSE: ACI) continued falling after the waiting period for the tender offer to acquire outstanding shares of International Coal Group (NYSE: ICO) expired on yesterday.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 820.

A drop in April factory orders weighed the markets down during the midday with the Dow falling 59 points to 12,231. Nasdaq slipped 3 points to 2766.

On the upside

Robert W. Baird analyst Quintin Lai upgraded Affymetrix (Nasdaq: AFFX) to an Outperform rating after the company named life sciences industry veteran Frank Witney to the position of president and chief executive.

Rite Aid (NYSE: RAD) reported a 1.3% increase in May same store sales.

MicroVision (Nasdaq: MVIS) announced that its SHOWWX+ laser pico projector for the iPod, iPhone and iPad will be offered in Apple online stores in Europe, Middle East and Africa.

On the downside

Massey Energy (NYSE: MEE) shareholders approved the sale of the coal miner to Alpha Natural Resources (NYSE: ANR) for $7.1 billion.  

Standard & Poor's Ratings Service  and Moody's Investors Service placed Sealed Air (NYSE: SEE) on watch for a possible downgrade.

Vera Bradley (Nasdaq: VRA) blamed higher expenses and income taxes for lower first quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 818.

The markets opened mixed with the Dow losing 14 points to 12,276 while Nasdaq gained 11 points to 2780 after retailers reported mixed May retail sales.

On the upside

Shares of for-profit colleges Apollo Group (Nasdaq: APOL) and Corinthian Colleges (Nasdaq: COCO) climbed after the Department of Education lowered the loan repayment rate of graduates and dropouts that educators must maintain in order to qualify for federal student aid.

Canaccord Genuity analyst Paul Mansky wrote yesterday that Dell (Nasdaq: DELL) should acquire Brocade (Nasdaq: BRCD).

Horizon Lines (NYSE: HRZ) renegotiated terms with its convertible senior notes holders.

On the downside

The Manhattan District Attorney subpoenaed Goldman Sachs (NYSE: GS) for information related to activities that lead to the collapse of the housing market.  

Exide Technologies (Nasdaq: XIDE) disappointed by swinging to a wider than expected fourth quarter loss.

Limited Brands (NYSE: LTD) reported same store sales growth in May that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 824.

The markets slumped to close sharply lower with the Dow collapsing 279 points to 12,290 as investors digested weak job creation numbers and a slowdown in manufacturing activity. Nasdaq plummeted 66 points to 2769.

On the upside

Westinghouse Solar (Nasdaq: WEST) will unveil its first fully integrated Plug-and-Play AC module that costs 50% less to install than ordinary solar power systems at the Intersolar 2011 trade show next week in Munich, Germany.

Daktronics (Nasdaq: DAKT) reversed year ago losses to post a profit for the fourth quarter.

ZAGG (Nasdaq: ZAGG) presented at the 8th Annual Craig-Hallum Institutional Investor Conference today.

On the downside

Juniper Networks (NYSE: JNPR) chief executive Kevin Johnson said that the challenging economy has negatively impacted revenue and earnings.  

Needham downgraded Sequans Communications (NYSE: SQNS) to a Hold rating.

Nokia's (NYSE: NOK) warning of an earnings shortfall weighed down shares of Blackberry maker Research in Motion (Nasdaq: RIMM).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 26 points to 821.

The markets extended its losses during the midday with the Dow plummeting 192 points to 12,377 as manufacturing activity dropped in May. Nasdaq plunged 37 points to 2798.

On the upside

The Macau government reported a sharp 42.4% surge in gaming revenue in May lifting shares of Las Vegas Sands (NYSE: LVS).

The peer-reviewed Journal of Neonatal-Perinatal Medicine reported that premature infants with respiratory distress syndrome treated with Discovery Laboratories' (Nasdaq: DSCO) Survanta experienced a lower incidence of reintubation in a Phase 3 clinical trial.

Virtualization infrastructure software solutions company VMware (NYSE: VMW) acquired enterprise social collaboration solutions firm Socialcast for an undisclosed sum.

On the downside

Dollar General (NYSE: DG) reported higher first quarter earnings but the results fell short of analyst expectations.  

Although first quarter earnings rose for Jos. A Bank Clothiers (Nasdaq: JOSB), the results missed expectations.

Regions Financial (NYSE: RF) introduced its Disaster Resource Center to assist customers facing financial impacts from disasters but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 837.

Weak Jobs Report Sinks Stocks

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A disappointingly weak May job creations report sent the markets down to a lower open with the Dow tumbling 105 points to 12,464. Nasdaq fell 13 points to 2821.

On the upside

Schneider Electric will pay approximately $1.36 billion to acquire information technology services firm Telvent (Nasdaq: TLVT).

Orexigen Therapeutics (Nasdaq: OREX) will provide a regulatory update for its obesity treatment Contrave before market open on Friday, June 3.

Sealed Air (NYSE: SEE) will acquire chemical cleaning company Diversey Holdings in a cash and stock deal valued at approximately $2.9 billion.

On the downside

Analysts downgraded Nokia (NYSE: NOK) after the mobile device maker warned yesterday that revenue will miss expectations by a wide margin.  

American Superconductor (Nasdaq: AMSC) delayed filing its annual report as the company reviews revenue from customers in China.

Armour Residential REIT (NYSE: ARR) priced its public offering of 16 million common shares at $7.40 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 845.

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