July 2011 Archives

The stalemate over a debt reduction plan continued in Congress sending the markets tumbling to close sharply lower with the Dow plunging 96 points to 12,143. Nasdaq fell 9 points to 2756.

On the upside

Trefis set a price target of $27.03 for United Continental (NYSE: UAL).

Second quarter earnings fell for Cadence Design Systems (Nasdaq: CDNS) but revenue climbed and Bank of America Merrill Lynch lifted its price target on the semiconductor design company.

Ingram Micro (NYSE: IM) reported lower second quarter earnings but revenue climbed.

On the downside

Brazilian airliner Gol Linhas Aereas (NYSE: GOL) blamed higher fuel expenses for cutting its earnings guidance for the year.

Southwestern Energy (NYSE: SWN) reported higher second quarter earnings that topped analyst estimates but production fell at some wells.

Shares of Imax (NYSE: IMAX) continued falling posting second quarter earnings that plunged to fall far short of analyst expectations yesterday.

In the broad market, declining issues outpaced advancers 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 slipped 2 points to 797.

The markets traded lower during the midday with the Dow tumbling 72 points to 12,167 as the nation's economy expanded at a slower than expected 1.3% annual pace in the second quarter. Nasdaq lost 5 points to 2760.

On the upside

Genworth (NYSE: GNW) swung to a loss for the second quarter as mortgage insurance losses increased but revenue rose to top estimates and the financial services firm said that it may split into two companies.

American Axle and Manufacturing (NYSE: AXL) reported higher second quarter earnings that surpassed analyst expectations and lifted its 2011 sales guidance.

Second quarter earnings surged for Regal Entertainment (NYSE: RGC) and the movie theatre operator declared a quarterly dividend of $0.21 per share payable on September 19, 2011 to shareholders of record September 9, 2011.

On the downside

Amerigroup (NYSE: AGP) blamed higher expenses for sharply lower second quarter earnings that fell short of analyst expectations.

Seeking Alpha contributor The Street Sweeper detailed accounting irregularities at Miller Energy Resources (NYSE: MILL) and disclosed a short position in the company.

RealD (NYSE: RLD) reported record first quarter earnings that more than doubled but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 795.

Disappointingly sluggish growth of the nation's economy weighed the markets down to a lower open with the Dow plunging 105 points to 12,135. Nasdaq dropped 16 points to 2749.

On the upside

Allied Healthcare International (Nasdaq: AHCI) agreed to be acquired by Saga Group for the premium price of $3.90 per share.

Newell Rubbermaid (NYSE: NWL) reported higher second quarter earnings as revenue rose.

Second quarter earnings climbed for Expedia (NYSE: EXPE) to top analyst estimates as revenue increased.

On the downside

STEC (Nasdaq: STEC) reported sharply higher second quarter earnings but the data storage device maker forecast current quarter results that fell far short of analyst expectations prompting downgrades.

Fourth quarter earnings rose for Vistaprint (Nasdaq: VPRT) but the company forecast 2012 earnings well below analyst expectations.

NXP Semiconductors (Nasdaq: NXPI) reversed year ago losses to post a profit for the second quarter but the results fell short of expectations and the company forecast third quarter earnings that missed estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by a margin of more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 790.

The markets retreated in late afternoon trading to close lower with the Dow falling 62 points to 12,240 as investors doubted that Congress would pass a debt reduction bill. Nasdaq added a point to 2766.

On the upside

Crocs (Nasdaq: CROX) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin as revenue climbed and the maker of colorful plastic shoes forecast current quarter results ahead of estimates.

Molycorp (NYSE: MCP) modified a supply contract in order to receive higher payment for lanthanum from a major client.

Second quarter earnings rose for Cameron International (NYSE: CAM) to top analyst estimates and the oil and gas industries services provider lifted its outlook for the full year.

On the downside

Sprint's (NYSE: S) new partnership with LightSquared to build a nationwide 4G wireless network using LTE technology sent shares of Clearwire (Nasdaq: CLWR), which is Sprint's current nationwide 4G wireless provider, plunging.

CB Richard Ellis Group (NYSE: CBG) reported higher second quarter earnings but the results fell short of analyst expectations.

Waste Management (NYSE: WM) blamed higher expenses for lower second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of 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 eased a point to 799.

A surprise increase in pending sales of existing homes lifted the markets during the midday with the Dow gaining 41 points to 12,343. Nasdaq soared 28 points to 2793.

On the upside

Third quarter earnings for Green Mountain Coffee Roasters (Nasdaq: GMCR) nearly tripled to surpass analyst expectations by a wide margin as sales of the company's Keurig brewing systems surged.

Liz Claiborne (NYSE: LIZ) widened second quarter losses but revenue climbed to beat analyst expectations.

Fairfax Financial and WL Ross & Co. each acquired a 9% stake in Bank of Ireland (NYSE: IRE) while The Capital Group bought a 6% share.

On the downside

The Wall Street Journal reported that Genzyme's contingent value rights (Nasdaq: GCVRZ) holders are unlikely to receive payments from parent company Sanofi (NYSE: SNY) as production delays plagued manufacturing facilities.

TriQuint Semiconductor (Nasdaq: TQNT) disappointed with lower second quarter earnings and forecast third quarter results well below analyst estimates.

Akamai Technologies (Nasdaq: AKAM) reported higher second quarter earnings but the results fell short of analyst expectations and the company forecast current quarter results below estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 806.

Initial applications for unemployment benefits dropped more than expected to lift the markets to a higher open with the Dow rising 23 points to 12,325. Nasdaq climbed 15 points to 2779.

On the upside

Boston Scientific (NYSE: BSX) reported higher second quarter earnings that topped analyst estimates prompting the medical device maker to lift its full year guidance.

The Food and Drug Administration confirmed that Dynavax (Nasdaq: DVAX) achieved clinical consistency in a Phase 3 trial of its hepatitis B vaccine HEPLISAV.

Second quarter earnings surged for LSI (NYSE: LSI) to beat analyst expectations and the company forecast third quarter revenue ahead of estimates prompting an upgrade.

On the downside

Sprint Nextel (NYSE: S) widened second quarter losses more than expected as the wireless communications company lost monthly contract subscribers.

Alcatel-Lucent (NYSE: ALU) reversed year ago losses but revenue fell short of analyst expectations.

Interpublic Group (NYSE: IPG) reported higher second quarter earnings but the results missed expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 806.

The markets skidded to close sharply lower with the Dow collapsing 198 points to 12,302 as Congress failed to produce a deficit reduction plan. Nasdaq sank 75 points to 2764.

On the upside

Marshall Edwards (Nasdaq: MSHL) reported encouraging data from a pre-clinical study of its ovarian cancer treatment NV-128.

Shares of communications lifecycle management software firm Tangoe (Nasdaq: TNGO) climbed in its market debut.

IAC/InterActiveCorp (Nasdaq: IACI) reported sharply higher second quarter earnings that more than tripled to beat analyst expectations by a wide margin.

On the downside

Flagstar Bancorp (NYSE: FBC) reported a loss for the second quarter and sold 27 of its bank branches in Atlanta to PNC Financial Services (NYSE: PNC).

Alere (NYSE: ALR) narrowed second quarter losses but the results fell short of analyst expectations and the medical diagnostics products company forecast full year results below estimates.

Trinity Industries (NYSE: TRN) blamed higher expenses for second quarter earnings that missed analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 24 points to 800.

The markets tumbled during the midday with the Dow plummeting 117 points to 12,384 as House Speaker John Boehner attempted to rewrite his deficit reduction plan in response to the Congressional Budget Office. Nasdaq plunged 52 points to 2787.

On the upside

Shares of Dunkin' Brands (Nasdaq: DNKN) surged on its first trading day.

First quarter earnings tumbled for RF Micro Devices (Nasdaq: RFMD) but the results topped analyst estimates.

Questcor Pharmaceuticals (Nasdaq: QCOR) reported sharply higher second quarter earnings that beat analyst expectations as revenue surged.

On the downside

Ciena (Nasdaq: CIEN) and Japanese information delivery platform KVH successfully transmitted an encrypted 10 Gigabit Ethernet data connection in Japan but the stock price fell.

Emerson Electric (NYSE: EMR) warned of weakening business activity.

Second quarter earnings for P. F. Chang's (NYSE: PFCB) dropped as revenue slipped prompting the casual dining chain to cut its guidance for the year.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 16 points to 807.

The looming debt default and threat of a credit downgrade weighed the markets down to a sharply lower open with the Dow plunging 114 points to 12,387. Nasdaq plummeted 53 points to 2786.

On the upside

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

Second quarter earnings plunged for The Jones Group (NYSE: JNY) but the results surpassed analyst expectations by a wide margin.

Tempur-Pedic (NYSE: TPX) reported sharply higher second quarter earnings that beat analyst expectations as revenue climbed.

On the downside

Juniper Networks (NYSE: JNPR) disappointed with lower second quarter earnings that fell short of analyst expectations and the company forecast current quarter results below estimates prompting downgrades.

Corning (NYSE: GLW) blamed a supply disruption caused by the March earthquake and tsunami in Japan for lower second quarter earnings and the company cut its glass production guidance for 2011.

Illumina (Nasdaq: ILMN) reported higher second quarter earnings that topped analyst estimates but the genetic analysis instrument maker forecast full year results below expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 812.

No Debt Deal, Markets Tumble

|

The inability of legislators to reach a debt reduction compromise weighed the markets down to a lower close with the Dow tumbling 91 points to 12,501. Nasdaq slipped 2 points to 2839.

On the upside

MGIC Investment (NYSE: MTG) chief executive officer Curt S. Culver and chief financial officer J. Michael Lauer each purchased 10,000 shares of company stock.

Tellabs (Nasdaq: TLAB) swung to a second quarter loss but the results were better than expected and the company announced plans to eliminate 330 jobs and cut $50 million in expenses.

Lexmark (NYSE: LXK) reported higher second quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

STMicroelectronics (NYSE: STM) reported higher second quarter earnings but the company forecast third quarter results below expectations prompting a downgrade.

Second quarter earning rose for Waters (NYSE: WAT) but the results missed expectations.

Lennox International (NYSE: LII) disappointed with lower second quarter earnings that fell short of expectations and the company forecast full year results below estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 824.

The markets traded lower during the midday with the Dow dropping 75 points to 12,517 as the deadlock in Congress continued. Nasdaq eased a fraction to 2842.

On the upside

Broadcom (Nasdaq: BRCM) reported lower second quarter earnings but the results beat expectations and the company forecast third quarter revenue ahead of estimates.

Office Depot (NYSE: ODP) widened second quarter losses but the results were better than expected.

Supervalu (NYSE: SVU) reported higher first quarter earnings that beat analyst expectations.

On the downside

Second quarter earnings for Paccar (Nasdaq: PCAR) more than doubled but the results fell short of analyst expectations.

Patriot Coal (NYSE: PCX) narrowed second quarter losses as revenue rose but the company warned of higher expenses.

Illinois Tool Works (NYSE: ITW) reported second quarter earnings that fell short of analyst expectations prompting the company to lower its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 828.

A drop in new home sales weighed the markets down to a lower open with the Dow falling 82 points to 12,510. Nasdaq lost 6 points to 2835.

On the upside

Electronic payments solutions company ACI Worldwide (Nasdaq: ACIW) offered a premium of $540 million in cash and stock to acquire financial services software solutions provider S1 (Nasdaq: SONE).

Weatherford International (NYSE: WFT) swung to a better than expected profit for the second quarter.

Second quarter earnings for RadioShack (NYSE: RSH) fell but the electronics retailer announced an agreement to sell Verizon Wireless (NYSE: VZ) products beginning September 15.

On the downside

Netflix (Nasdaq: NFLX) reported higher second quarter earnings but revenue missed expectations and the movie rental company forecast third quarter results below analyst estimates.

AK Steel Holding (NYSE: AKS) reported higher second quarter earnings but the results fell far short of analyst expectations.

U. S. Steel (NYSE: X) swung to a second quarter profit but revenue fell short of expectations and the company warned of lower operating profit for the current quarter.

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 slipped 2 points to 829.

Congressional leaders were unable to reach a deal to reduce the deficit sending the markets down to a lower close with the Dow dropping 88 points to 12,592. Nasdaq fell 16 points to 2842.

On the upside

Allied Irish Banks (NYSE: AIB) reversed year ago losses to post a profit for the six months of 2011.

Seven Arts Pictures (Nasdaq: SAPX) will jointly produce and develop the motion picture "Neuromancer," which is based on the best-selling science fiction novel written by William Gibson, with Prodigy Pictures.

Bank of America Merrill Lynch analysts Steve Fleishman and Ameet Thakkar upgraded Calpine (NYSE: CPN) to a Buy rating.

On the downside

Second quarter earnings slipped for Silicon Laboratories (Nasdaq: SLAB) and the company forecast third quarter revenue below analyst expectations.

Bridgepoint Education's (NYSE: BPI) largest shareholder Warburg Pincus will sell all 34.6 million shares of the online educator that the private equity firm owns.

Shares of USG (Nasdaq: USG) continued to fall after reporting a wider than expected loss for the second quarter on Friday.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 831.

The markets recovered earlier losses but continued to trade lower during the midday with the Dow losing 36 points to 12,644 as Congressional leaders prepared to grapple with several deficit reduction plans. Nasdaq slipped a point to 2857.

On the upside

A Seeking Alpha article on Sunday said that Atrinsic (Nasdaq: ATRN) stock will triple.

Petroleo Brasileiro (NYSE: PBR) increased its capital investment target for 2011 - 2015 to $224.7 billion.

Westinghouse Solar (Nasdaq: WEST) will supply Lennar  (NYSE: LEN) with solar power systems for certain new home communities.

On the downside

Shares of American Airlines parent AMR (NYSE: AMR), United Continental (NYSE: UAL) and US Airways (NYSE: LCC) all fell after airfares were raised.

Stifel Nicolaus lowered its price target for IMAX (NYSE: IMAX) from $32 per share to $27 saying that fourth quarter sales will be weak.

A Seeking Alpha article said that Oncothyreon's (Nasdaq: ONTY) lung cancer treatment Stimuvax will most likely fail a Phase III clinical trial.

In the broad market, declining issues outpaced advancers 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 lost 4 points to 837.

As the nation moved closer to the possibility of a credit downgrade, the markets opened lower with the Dow falling 52 points to 12,628. Nasdaq lost 9 points to 2849.

On the upside

Altair Nanotechnologies (Nasdaq: ALTI) raised $57.5 million through a Share Subscription Agreement with Canon Investment Holdings affiliate Energy Storage Technology.

Ireland reduced its stake in Bank of Ireland (NYSE: IRE) to 32% by selling a 1.1 billion euro stake in the bank to investors.

Wowjoint Holdings (Nasdaq: BWOW) announced on Friday that it will provide a 50 ton marine hoist to Shenzhen Land Investment & Development Center.

On the downside

Raptor Pharmaceuticals (Nasdaq: RPTP) reported positive results from a Phase III clinical trial of its nephropathic cystinosis treatment RP103 but the stock price plummeted.

Roth Capital cited the fatal train accident in China's Zhejiang province over the weekend for downgrading Hollysys Automation (Nasdaq: HOLI).

Second quarter earnings dropped for hospital operator HCA (NYSE: HCA) to fall short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 837.

The markets closed mixed with the Dow falling 43 points to 12,681 after Congressional leaders failed to reach a compromise on a deficit reduction plan. Nasdaq climbed 24 points to 2858.

On the upside

LDK Solar (NYSE: LDK) will hold its annual shareholders meeting on Thursday September 8, 2011 at the company's office in Hong Kong.

Second quarter earnings surged for Complete Production Services (NYSE: CPX) to beat analyst expectations as revenue soared.

NCR (NYSE: NCR) reported sharply higher second quarter earnings that topped analyst estimates as revenue rose.

On the downside

Analysts expect Supervalu (NYSE: SVU) to post lower first quarter earnings next week.

Reynolds American (NYSE: RAI) blamed legal charges for lower second quarter earnings.

Second quarter earnings for Edwards Lifesciences (NYSE: EW) missed analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 841.

Markets Mixed At Midday

|

The markets traded mixed during the midday with the Dow losing 31 points to 12,692 despite approval of a financial assistance package for Greece as corporate earnings disappointed. Nasdaq climbed 21 points to 2856.

On the upside

Shares of specialty retailer Francesca's Holdings (Nasdaq: FRAN) surged in its market debut.

Fourth quarter earnings tumbled for Western Digital (NYSE: WDC) but the results beat analyst expectations by a wide margin.

Cepheid (Nasdaq: CPHD) reversed year ago losses to post a better than expected profit for the second quarter.

On the downside

YRC Worldwide (Nasdaq: YRCW) widened second quarter losses and announced the retirement of chief executive Bill Zollers.

Fourth quarter earnings dropped for Ruby Tuesday (NYSE: RT) as expenses climbed and the casual restaurant operator forecast first quarter results well below analyst expectations.

C. R. Bard (NYSE: BCR) blamed a litigation charge for swinging to a second quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 842.

Disappointing earnings weighed the markets down to a lower open with the Dow falling 61 points to 12,662 after European leaders finalized a bailout package for Greece. Nasdaq added a point to 2835.

On the upside

Advanced Micro Devices (NYSE: AMD) reversed year ago losses to post a profit for the second quarter and forecast current quarter revenue ahead of estimates.

Skyworks Solutions (Nasdaq: SWKS) reported higher third quarter earnings that beat analyst expectations and forecast fourth quarter results that topped estimates.

Second quarter earnings rose for SanDisk (Nasdaq: SNDK) to surpass analyst expectations by a wide margin.

On the downside

Human Genome Sciences (Nasdaq: HGSI) blamed higher expenses for widening second quarter losses.

Caterpillar (NYSE: CAT) reported sharply higher second quarter earnings but the results fell short of analyst expectations.

Cemex (NYSE: CX) disappointed with a greater than expected loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 838.

The markets closed sharply higher with the Dow surging 152 points to 12,724 after European leaders finalized a bailout package for Greece. Nasdaq gained 20 points to 2834.

On the upside

Activist investor Carl Icahn urged Motorola Mobility (NYSE: MMI) to monetize its extensive portfolio of patents.

Analysts expect Cell Therapeutics (Nasdaq: CTIC) to report a second quarter loss next week.

Shares of Sino-Global Shipping (Nasdaq: SINO) continued climbing after announcing yesterday a strategic partnership with COSCO Container Shipping Agency.

On the downside

First quarter earnings plunged for Cirrus Logic (Nasdaq: CRUS) and the chipmaker forecast second quarter results below estimates.

Western Digital (NYSE: WDC) disappointed with sharply lower fourth quarter earnings.

Travelzoo (Nasdaq: TZOO) reported higher second quarter earnings but the results fell far short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 841.

The markets continued to advance during the midday with the Dow soaring 163 points to 12,735 as European leaders moved closer to finalizing a solution to contain the debt crisis. Nasdaq gained 22 points to 2837.

On the upside

The Wall Street Journal reported that Google (Nasdaq: GOOG) has engaged in discussions to acquire InterDigital (Nasdaq: IDCC).

Shares of  Barclays (NYSE: BCS), Governor and Company of The Bank of Ireland (NYSE: IRE) and Lloyds Banking Group (NYSE: LYG) all rose as European leaders drafted new proposals to contain the spreading debt crisis.

Second quarter earnings more than tripled for Robert Half International (NYSE: RHI) to top analyst estimates as revenue climbed.

On the downside

LM Ericsson (Nasdaq: ERIC) reported higher second quarter earnings but the results fell far short of expectations.

Second quarter earnings rose for Safeway (NYSE: SWY) but the grocery store chain's full year outlook disappointed.

American Airlines parent AMR (NYSE: AMR) blamed higher fuel expenses for widening second quarter losses more than expected.

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

Strong corporate earnings sent the markets soaring to a sharply higher open with the Dow surging 155 points to 12,727. Nasdaq climbed 32 points to 2846.

On the upside

Pharmacy benefits manager Express Scripts (Nasdaq: ESRX) will pay approximately $29.1 billion in cash and stock to acquire competitor MedcoHealth Solutions (NYSE: MHS).

Workforce solutions firm SFN Group (NYSE: SFN) agreed to be acquired for a premium of $14 per share in cash by human resources services provider Randstad Holding.

Morgan Stanley (NYSE: MS) swung to a second quarter loss but revenue rose to surpass analyst expectations by a wide margin.

On the downside

Seagate Technology (Nasdaq: STX) reported sharply lower fourth quarter earnings and forecast first quarter results that fell far short of analyst expectations.

Genworth Financial (NYSE: GNW) warned of second quarter losses as the company increased its mortgage loss reserves.

Ingersoll Rand (NYSE: IR) disappointed with sharply lower second quarter earnings that missed estimates and forecast third quarter earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 841.

Despite upbeat earnings news, the markets closed modestly lower with the Dow losing 15 points to 12,571 as debt ceiling negotiations continued in Washington. Nasdaq fell 12 points to 2814.

On the upside

A Seeking Alpha article said that Oncothyreon's (Nasdaq: ONTY) lung cancer treatment Stimuvax is expected to report upbeat results from a Phase 3 clinical trial.

Second quarter earnings for United Rentals (NYSE: URI) more than doubled as revenue rose.

Rumors that Google (Nasdaq: GOOG) may be interested in acquiring InterDigital (Nasdaq: IDCC) lifted shares of the digital wireless technology solutions company.

On the downside

Analysts expect YRC Worldwide (Nasdaq: YRCW) to post a second quarter loss on Friday.

Johnson Controls (NYSE: JCI) blamed one-time charges for a drop in third quarter earnings.

Pfizer (NYSE: PFE) offered a discounted price of $6 per share to acquire Icagen (Nasdaq: ICGN).

In the broad market, advancing issues outpaced decliners by a margin of more than 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 lost 2 points to 832.

The markets traded lower during the midday with the Dow slipping 10 points to 12,577 as investors monitored federal budget negotiations. Nasdaq fell 12 points to 2814.

On the upside

Textron (NYSE: TXT) reported higher second quarter earnings that topped analyst estimates.

Second quarter earnings climbed for U. S. Bancorp (NYSE: USB) to beat analyst expectations as credit loss provisions tumbled.

Shares of Zillow (Nasdaq: Z) surged in its market debut.

On the downside

Gleacher & Co. said that it would be unlikely for Dell (Nasdaq: DELL) to acquire Brocade Communications Systems (Nasdaq: BRCD).

Fortinet (Nasdaq: FTNT) reported higher second quarter earnings that topped analyst estimates as revenue climbed but the stock price plunged.

Second quarter earnings climbed for Altera (Nasdaq: ALTR) to beat analyst expectations but revenue fell short of estimates.

In the broad market, advancing issues edged out decliners by a slim margin of 10 to 9 on the NYSE while decliners outpaced advancers by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 829.

A drop in June sales of previously owned homes weighed the markets down to a lower open with the Dow slipping 20 points to 12,567. Nasdaq lost 9 points to 2817.

On the upside

Citadel, E*Trade's (Nasdaq: ETFC) largest shareholder with a 9.8% stake in the online brokerage, asked E*Trade to explore strategic alternatives including the option of selling the company.

Disinfectant company Ecolab (NYSE: ECL) will pay approximately $5.4 billion to acquire water treatment company Nalco Holding (NYSE: NLC).

Apple (Nasdaq: AAPL) impressed with third quarter earnings that more than doubled to surpass analyst expectations by a wide margin as revenue surged.

On the downside

While second quarter earnings rose for Yahoo (Nasdaq: YHOO), revenue dropped and the company forecast current quarter revenue below expectations.

Riverbed Technology (Nasdaq: RVBD) reported sharply higher second quarter earnings but revenue missed estimates and the company forecast third quarter earnings below expectations.

Dynavax (Nasdaq: DVAX) reported a second quarter loss.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 830.

Strong corporate earnings sent the markets soaring to a sharply higher close with the Dow leaping 202 points to 12,587. Nasdaq jumped 61 points to 2826.

On the upside

Bargain hunters lifted shares of WebMD (Nasdaq: WBMD), whose stock price plunged yesterday after the company cut its full year guidance.

Fuelcell Energy (Nasdaq: FCEL) chairman John A. Rolls bought 100,000 shares of company stock while president and chief executive Arthur A. Bottone and chief operating officer Anthony Rauseo each purchased 10,000 shares.

News that China expand its natural resource tax lifted shares of American rare earth oxides company Molycorp (Nasdaq: MCP).

On the downside

Rudolph Technologies (Nasdaq: RTEC) will offer up to $60 million in convertible debt and forecast second quarter revenue below analyst expectations.

RXi Pharmaceuticals (Nasdaq: RXII) will seek approval from shareholders at its annual meeting to increase the number of common shares under the company incentive plan by 2 million to a total of 8.75 million and to increase the number of authorized shares of common stock by 50 million to 125 million.

Zhongpin (NYSE: HOGS) refuted a China Economic Review report alleging that Zhongpin overstated information but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 18 points to 834.

Upbeat Earnings Lift Markets

|

Upbeat earnings lifted the markets during the midday with the Dow climbing 120 points to 12,506. Nasdaq soared 41 points to 2806.

On the upside

Fisker Automotive selected Clean Diesel Technologies (Nasdaq: CDTI) to supply catalyst technology for the hybrid Karma luxury sedan.

PetroQuest Energy (NYSE: PQ) announced a discovery at its La Cantera Prospect in Vermilion Parish, Louisiana prompting an upgrade.

Kandi Technologies (Nasdaq: KNDI) announced a program to repurchase up to $5 million worth of common stock.

On the downside

The International Trade Commission ruled yesterday that Eastman Kodak (NYSE: EK) did not infringe on Apple's (Nasdaq: AAPL) patents but Kodak stock continued to drop.

Brown & Brown (NYSE: BRO) disappointed with lower second quarter earnings that fell short of analyst expectations.

McMoRan Exploration (NYSE: MMR) widened second quarter losses more than expected as expenses climbed.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 825.

Single family home construction climbed in June by the largest amount in two years to lift the markets to a sharply higher open with the Dow soaring 130 points to 12,515. Nasdaq surged 47 points to 2812.

On the upside

Harley-Davidson (NYSE: HOG) reported sharply higher second quarter earnings that more than doubled to surpass analyst expectations as domestic sales rose for the first time in nearly five years.

Shares of MGM Resorts (NYSE: MGM) climbed after Macau reported higher gaming revenue for the first half of July and Sterne, Agee & Leach analyst David Bain said that gambling revenue may soar as much as 40% for the entire month.

InterDigital (Nasdaq: IDCC) retained the services of Evercore Partners and Barclays Capital to explore strategic alternative to increase shareholder value including the possible sale of the company.

On the downside

Star Bulk (Nasdaq: SBLK) priced its public offering of 16.7 million common shares at the discounted price of $1.80 per share.

Lincare Holdings (Nasdaq: LNCR) blamed higher expenses for a drop in second quarter earnings.

Avery Dennison (NYSE: AVY) warned of lower second quarter revenue and forecast second quarter earnings below expectations prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 13 points to 829.

Continued concerns of a spreading debt crisis in Europe sent the markets down to a lower close with the Dow tumbling 94 points to 12,385. Nasdaq fell 24 points to 2765.

On the upside

Check Point Software Technologies (Nasdaq: CHKP) reported sharply higher second quarter earnings that topped analyst estimates prompting the Internet security software firm to lift its full year outlook.

A Seeking Alpha article on Friday refuted allegations that Shengkai Innovations (Nasdaq: VALV) committed fraud.

Valence Technology (Nasdaq: VLNC) raised its revenue outlook for the first quarter as shipments climbed.

On the downside

Despite passing bank stress tests, shares of Allied Irish Bank (NYSE: AIB) and the Bank of Ireland (NYSE: IRE) both fell over concerns of a widening debt crisis in Europe.

MGIC Investment's (NYSE: MTG) second quarter loss weighed down shares of fellow mortgage insurer PMI Group (NYSE: PMI).

Delta Air Lines (NYSE: DAL) will no longer fly to 24 cities in the Midwest citing weak demand.

In the broad market, declining issues outpaced advancers 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 dropped 12 points to 815.

The markets extended its losses during the midday with the Dow plummeting 158 points to 12,321 as investors feared that the growing debt crises in Europe would spread. Nasdaq sank 40 points to 2749.

On the upside

Audley Capital Advisors, which owns a 1.5% stake in Walter Energy (NYSE: WLT), advised the coal company to explore selling itself.

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

The Bedford Report issued a report saying that two of Coffee Holding's (Nasdaq: JAVA) ethnic coffees are poised to go main stream.

On the downside

Stifel Nicolaus downgraded Entropic Communications (Nasdaq: ENTR) to a Sell rating.

Shares of Radian (NYSE: RDN) tumbled after rival mortgage insurer MGIC Investment (NYSE: MTG) reported a loss for the second quarter.

SkyWest (Nasdaq: SKYW) warned that second quarter earnings will fall far short of analyst expectations due to higher expenses.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 813.

Concerns that the nation will lose its top AAA credit rating sent the markets tumbling to a sharply lower open with the Dow plunging 138 points to 12,340. Nasdaq plummeted 32 points to 2757.

On the upside

Bloomberg News reported that Liz Claiborne (NYSE: LIZ) was exploring the sale of its Mexx brand to private equity firms Leonard Green & Partners, Sun Capital and Golden Gate Capital.

The Wall Street Journal reported that Pharmaceutical Product Development (Nasdaq: PPDI) was exploring the possible sale of the company.

Sino Clean Energy (Nasdaq: SCEI) entered a preliminary agreement to acquire Crown Energy which owns a 60% stake in Foshan Nan Hai CWSF.

On the downside

WebMD Health (Nasdaq: WBMD) blamed a drop in advertising revenue for lowering its 2011 guidance.

Nabi Pharmaceuticals (Nasdaq: NABI) reported that its NicVAX smoking cessation treatment failed a Phase III clinical trial.

MGIC Investment (NYSE: MTG) swung to a second quarter loss as mortgage defaults climbed.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 816.

The markets closed higher with the Dow gaining 42 points to 12,479 despite falling consumer sentiment as investors embraced merger and acquisition activity. Nasdaq climbed 27 points to 2789.

On the upside

EXCO Resources (NYSE: XCO) ended its exploration of strategic alternatives and will remain a publicly traded company.

Allied Irish Banks (NYSE: AIB) passed the European Banking Authority stress test.

BHP Billiton's $12.1 billion acquisition of Petrohawk Energy (NYSE: HK) lifted shares of Chesapeake Energy (NYSE: CHK), Cabot Oil & Gas (NYSE: COG) and Forest Oil (NYSE: FST).

On the downside

Greenhill & Co. (NYSE: GHL) management committee member Timothy M. George will be the latest in a string of managing directors to leave the investment firm.

Peregrine Pharmaceuticals (Nasdaq: PPHM) widened fourth quarter losses as revenue tumbled.

The National Bank of Greece (NYSE: NBG) failed the stress test administered by the European Banking Authority.

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 5 points to 828.

The markets advanced during the midday with the Dow rising 7 points to 12,444 even as consumer sentiment tumbled to its lowest level in more than two years. Nasdaq gained 20 points to 2782.

On the upside

AgFeed Industries (Nasdaq: FEED) signed nonbinding letters of intent to acquire Pine Ridge Farms and Kansas City Sausage company.

JPMorgan analyst Mark Lear said that Brigham Exploration (Nasdaq: BEXP) and Range Resources (NYSE: RRC) may be targeted for acquisition after BHP offered $12.1 billion for Petrohawk Energy (NYSE: HK).

MicroStockProfit.com issued a research report on Sino Clean Energy (Nasdaq: SCEI).

On the downside

The New York Stock Exchange notified Lee Enterprises (NYSE: LEE) that its 30-trading-day average stock price fell below the minimum standard of $1.00 per share and that the stock may be delisted unless the company regained compliance.

Delcath Systems (Nasdaq: DCTH) will raise capital through the sale of 5 million common shares.

Jefferies downgraded Qlik Technologies (Nasdaq: QLIK) to a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 825.

Higher Open On Merger News

|

Corporate consolidations lifted the markets to a higher open with the Dow adding 5 points to 12,442. Nasdaq gained 15 points to 2778.

On the upside

BHP Billiton will pay approximately $12.1 billion in cash to acquire Petrohawk Energy (NYSE: HK).

Activist investor Carl Icahn offered a premium of $10.2 billion to acquire Clorox (NYSE: CLX).

Google (Nasdaq: GOOG) impressed with sharply higher second quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

A Food and Drug Administration advisory panel recommended accelerated approval for Seattle Genetics' (Nasdaq: SGEN) Adcetris to treat Hodgkin's disease and a type of lymphoma but Canaccord maintained its Sell rating on the biotechnology company saying that narrow restrictions on the drug may limit sales.

Genesis Energy (NYSE: GEL) priced its offering of 7.35 million common units at $26.30 per unit.

Flir Systems (Nasdaq: FLIR) blamed weak demand for issuing a second quarter earnings outlook that fell short of analyst expectations.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 825.

The credit rating of the United States may be downgraded despite making debt interest payments if certain other financial obligations are missed. The markets closed lower with the Dow losing 54 points to 12,437. Nasdaq tumbled 34 points to 2762.

On the upside

Bank of America (NYSE: BAC) reportedly offered to settle one of several lawsuits filed by MBIA (NYSE: MBI) against the banking giant.

Chevron Australia awarded a $2.3 billion contract to Chicago Bridge & Iron (Nasdaq: CBI) to provide mechanical, electrical and instrumentation work on the Gorgon Project in Australia.

Second quarter earnings fell for Universal Forest Products (Nasdaq: UFPI) but the results topped analyst estimates .

On the downside

Level 3 Communications' (Nasdaq: LVLT) subsidiary Level 3 Escrow will increase its senior notes offering by an additional $300 million.

Gleacher & Co. analyst Stephen Patel lowered his 2011 and 2012 earnings estimates for Nokia (NYSE: NOK) saying that shipments will drop.

Oppenheimer lifted its earnings estimates for Capital One (NYSE: COF) through 2012 but the stock price dropped.

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 13 points to 823.

The markets turned negative during the midday with the Dow slipping 11 points to 12,480 after Federal Reserve Chairman Ben Bernanke warned that excessively sharp government spending cuts will hurt the nation's fragile economy. Nasdaq fell 25 points to 2770.

On the upside

Consol Energy (NYSE: CNX) increased its coal production guidance for 2011.

Rumors persisted that Pfizer (NYSE: PFE) may acquire Icagen (Nasdaq: ICGN).

Capstone Turbine (Nasdaq: CPST) received an $8.6 million multi-year comprehensive fleet-wide service blanket order with Petroleos Mexicanos.

On the downside

Coffee Holding (Nasdaq: JVA) president and chief executive Andrew Gordon sold 140,000 shares of company stock while vice president David Gordon also sold 140,000 shares.

Raymond James downgraded Clean Energy Fuels (Nasdaq: CLNE) from Strong Buy to Outperform.

Goldman Sachs downgraded RTI International Metals (NYSE: RTI) to a Sell rating and lowered its price target to $31 from $40 per share saying that margins will be pressured over the next few years.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 822.

Jobless claims fell last week to lift the markets to a higher open with the Dow climbing 58 points to 12,550. Nasdaq added 5 points to 2802.

On the upside

Williams Cos. increased its offer to acquire Southern Union (NYSE: SUG) to approximately $9.4 billion to top the $5.1 billion bid from Energy Transfer (NYSE: ETE).

ConocoPhillips (NYSE: COP) will separate into two companies by spinning off its refining business.

JPMorgan Chase (NYSE: JPM) reported higher second quarter earnings that beat analyst expectations as mortgage delinquencies dropped.

On the downside

Marriott International (NYSE: MAR) reported higher second quarter earnings but the company's full year outlook disappointed.

A woman died under suspicious circumstances at the home of Medicis Pharmaceuticals (NYSE: MRX) chief executive Jonah Shacknai.

JPMorgan downgraded Stillwater Mining (NYSE: SWC) to a Neutral rating.

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

The markets retreated from earlier advances but managed to close modestly higher with the Dow gaining 44 points to 12,491 after Federal Reserve Bank of Dallas President Richard Fisher tempered expectations of further stimulus measures. Nasdaq rose 15 points to 2796.

On the upside

Ladenburg Thalmann initiated coverage of ZAGG (Nasdaq: ZAGG) with a Buy rating.

Regulators approved the merger between Perdigao and Sadia that created Brasil Foods (NYSE: BRFS).

Titanium Metals (NYSE: TIE) extended its titanium supply agreement with Boeing.

On the downside

Forest City Enterprises (NYSE: FCEA) announced plans to offer $250 million iin senior convertible notes.

BioLase Technology (NYSE: BLTI) reported higher preliminary second quarter results but said that $2 million worth of orders were not shipped due to changes made to the order at the last minute.

Business Insider reported that Research in Motion (Nasdaq: RIMM) has yet to make a profit from its PlayBook.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 836.

Optimism that Federal Reserve Chairman Ben Bernanke may suggest further stimulus measures to jump start the stalled economy boosted the markets during the midday with the Dow surging 125 points to 12,572. Nasdaq climbed 33  points to 2815.

On the upside

Sina (Nasdaq: SINA) will unveil a virtual currency to be used on its microblogging site Weibo in the third quarter.

Rising gold prices lifted shares of Hecla Mining (NYSE: HL), Eldorado Gold (NYSE: EGO) and Jaguar Mining (NYSE: JAG).

Gulf Resources (Nasdaq: GURE) affirmed that chairman Ming Yang will maintain ownership of the company for the next three years.

On the downside

Adtran (Nasdaq: ADTN) reported higher second quarter earnings but the company forecast third quarter results below analyst expectations.

Investment Technology Group (NYSE: ITG) warned of losses for the second quarter and will lower expenses by eliminating workers.

Increasingly higher funding costs weighed down shares of The Bank of Ireland (NYSE: IRE).

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 840.

The markets opened sharply higher with the Dow soaring 150 points to 12,597 as investors welcomed the possibility of additional stimulus measures from the Federal Reserve. Nasdaq surged 40 points to 2822.

On the upside

Shares of mobile game maker Glu Mobile (NYSE: GLUU) rose after Electronic Arts (Nasdaq: ERTS) offered approximately $750 million to acquire PopCap Games.

Kinetic Concepts (NYSE: KCI) will be taken private by Apax Partners, the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board in a deal valued at approximately $6.3 billion including the assumption of debt.

Bank of America Merrill Lynch analyst Steven Milunovich upgraded Clean Energy Fuels (Nasdaq: CLNE) to a Buy rating.

On the downside

The Food and Drug Administration is expected to issue a complete response letter to Transcept Pharmaceuticals (Nasdaq: TSPT) for its insomnia treatment Intermezzo requesting additional information.

CommonWealth REIT (NYSE: CWH) priced its public offering of 10 million common shares at the discounted price of $24 per share.

Validus Holdings (NYSE: VR) made an unsolicited $3.5 billion offer to acquire Transatlantic Holdings (NYSE: TRH). The bid is higher than the $3.12 billion that Allied World Assurance (NYSE: AWH) offer made last month.

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 11 points to 840.

Moody's downgraded Ireland's bonds to junk status to send the markets down to a lower close with the Dow falling 58 points to 12,446.  Nasdaq dropped 20 points to 2781.

On the upside

Orbitz Worldwide (NYSE: OWW) partnered with Virgin Australia to create a private label hotel booking platform for Virgin Australia's Australian websites.

The Bedford Report expects Silver Wheaton (NYSE: SLW) to benefit from an upswing in silver demand in several emerging economies.

Rising gold prices lifted shares of Eldorado Gold (NYSE: EGO).

On the downside

Quest Software (Nasdaq: QSFT) expects second quarter earnings and revenue to fall short of analyst expectations and cut its outlook for the year.

Powerwave Technologies (Nasdaq: PWAV) blamed the challenging global economy for lowering its second quarter guidance .

Piper Jaffray downgraded Ann (NYSE: ANN) to an Underweight rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 829.

The markets slipped into negative territory during the midday with the Dow losing 6 points to 12,499 over the possibility of an expanding debt crisis in Europe.  Nasdaq fell 10 points to 2791.

On the upside

Roth Capital Research initiated coverage of Clean Diesel Technologies (Nasdaq: CDTI) with a Buy rating.

Roth Capital Partners named RXi (Nasdaq: RXII) to its list of six top biotechnology stocks for the second half of 2011.

Standard & Poor's will replace SRA International (NYSE: SRX) with General Cable (NYSE: BGC) on its MidCap 400 Index after market close on July 15, 2011.

On the downside

Shares of GT Solar (Nasdaq: SOLR) continued falling after research firm Solarbuzz reported yesterday that spending on solar equipment will plunge 47% in 2012.

Novellus (Nasdaq: NVLS) reported higher second quarter earnings but revenue fell short of analyst expectations and the company lowered its third quarter forecast.

The chair of Trina Solar's (NYSE: TSL) audit committee, Peter Mak, resigned yesterday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 834.

The markets opened flat with the Dow easing a point to 12,504 while Nasdaq lost 6 points to 2795 as investors continued to monitor the debt crisis in Europe.

On the upside

NCR (NYSE: NCR) offered a premium of $1.2 billion in cash to acquire Radiant Systems (Nasdaq: RADS).

Chesapeake Energy (NYSE: CHK) will invest $150 million to help Clean Energy Fuels (Nasdaq: CLNE) build 150 liquefied natural gas fueling stations.

MBIA (NYSE: MBI) will drop its lawsuit alleging that Bank of America's (NYSE: BAC) Merrill Lynch unit engaged in fraud.

On the downside

Microchip Technology (Nasdaq: MCHP) blamed a drop in demand for cutting its first quarter guidance and warned of sequentially lower results for the second quarter.

JMP Securities downgraded Advanced Micro Devices (Nasdaq: AMD) yesterday to a Market Underperform rating.

UBS analyst Parag Agarwal downgraded ON Semiconductor (Nasdaq: ONNN) to a Neutral rating.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners edged out advancers by a margin of 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 833.

Default Concerns Sink Stocks

|

Concerns that more European countries may default sent the markets tumbling to a sharply lower close with the Dow plummeting 151 points to 12,505. Nasdaq sank 57 points to 2802.

On the upside

Shares of stem cell research firm Pluristem Therapeutics (Nasdaq: PSTI) continued rising after Swedish doctors last week implanted a trachea grown from a cancer patient's own stem cells.

Boston Scientific (NYSE: BSX) will expand its manufacturing plant in Costa Rica and hire 250 workers.

A Seeking Alpha article defended China Sky One Medical (Nasdaq: CSKI) against allegations of fraud.

On the downside

PMI (NYSE: PMI) introduced its RH Reward program offering incentives to select homeowners with underwater mortgages to remain current on their mortgages.

Level 3 Communications (Nasdaq: LVLT) launched a new ultra-low-latency fiber optic route between London and Frankfurt that will increase trading speeds for banks, hedge funds, brokers and other financial services institutions but the stock price fell.

Striking mine workers in Indonesia will return to work after reaching an agreement with Freeport-McMoRan (NYSE: FCX) to begin negotiations on a collective labor agreement.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 19 points to 833.

The markets extended its losses during the midday with the Dow skidding 159 points to 12,497 over growing concern about the health of the global economy. Nasdaq plummeted 55 points to 2804.

On the upside

A Nevada district court ruled in PDL BioPharma's (Nasdaq: PDLI) favor by denying motions to dismiss filed by Genentech and F. Hoffman LaRoche related to a settlement reached in 2003.

A Seeking Alpha article listed Coffee Holding Co. (Nasdaq: JVA) as the coffee distributor with the highest year to date return of 628.88%.

Kandi Technologies (Nasdaq: KNDI) engaged in a strategic partnership with Hangzhou Electric Vehicle Service to launch a 20,000 pure electric vehicle program for Hangzhou consumers.

On the downside

Mixed results in a phase III clinical study for Genzyme's multiple sclerosis treatment Lemtrada weighed down shares of Lemtrada's tracking stock Sanofi (Nasdaq: GCVRZ).

Gambling revenue along the Las Vegas Strip surged 29% in May but shares of Las Vegas Sands (NYSE: LVS) and MGM Resorts (NYSE: MGM) dropped.

JPMorgan Chase (NYSE: JPM) named former Hewlett-Packard (NYSE: HPQ) chief administrative officer Peter Bocian to manage the financial services firm's real estate and general services and procurement.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 834.

Continued concerns about the debt crisis in Europe sent the markets tumbling to a sharply lower open with the Dow plummeting 147 points to 12,509. Nasdaq plunged 43 points to 2816.

On the upside

YRC Worldwide (Nasdaq: YRCW) replaced its asset backed securitization facility with a $400 million asset based loan.

Lonza Group will pay a premium of $1.2 billion in cash to acquire Arch Chemicals (NYSE: ARJ).

Marisco Capital acquired a 10.7% stake in Youku.com (NYSE: YOKU).

On the downside

Stillwater Mining (NYSE: SWC) will pay approximately $487.1 million in cash and stock to purchase Peregrine Metals.

Bernstein Research downgraded Banco Bilbao Viscaya Argentina (NYSE: BBVA) to a Market Perform rating on Friday.

Approval of News Corp.'s (NYSE: NWSA) acquisition of British Sky Broadcasting may be delayed in the aftermath of the News of the World phone hacking scandal.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 839.

A greater than expected increase of the nation's unemployment rate to 9.2% sent the markets down to a lower close with the Dow dropping 62 points to 12,657. Nasdaq lost 12 points to 2859.

On the upside

FriendFinder Networks (Nasdaq: FFN) will pay $15 million to settle a litigation matter with Broadstream Capital Partners.

Shares of Southern Copper (NYSE: SCCO) rose in anticipation of the release of a new environmental impact study for the Tia Maria copper deposit.

A Zacks.com article said that Western Refining (NYSE: WNR) was a strong buy.

On the downside

Texas Attorney General Greg Abbott filed charges against Encore Capital Group (Nasdaq: ECPG) for engaging in unlawful debt collection practices.

SK Telecom (NYSE: SKM) submitted a bid to acquire a $2.3 billion stake in Hynix Semiconductor.

Goldman Sachs downgraded Yingli Green Energy (NYSE: YGE) to a Sell rating and lowered it price target to $8.

In the broad market, declining issues outpaced advancers 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 lost 5 points to 852.

A disappointingly meager creation of 18,000 jobs in June weighed the markets down during the midday with the Dow plunging 115 points to 12,603. Nasdaq tumbled 27 points to 2845.

On the upside

Barclays Capital upgraded GenOn Energy (NYSE: GEN) to an Overweight rating yesterday.

China Auto Logistics (Nasdaq: CALI) announced yesterday that it raised $5.25 million through the sale of 3 million unregistered common shares at above market price.

SkyPeople Fruit Juice (Nasdaq: SPU) filed a defamation lawsuit against Absaroka Capital Management and its analyst Kevin Barnes.

On the downside

Shine's Room issued a report saying that higher raw materials expenses coupled with weak tire sales have hurt margins at Cooper Tire & Rubber (NYSE: CTB).

Cleveland Research reported weak second quarter sales at Dick's Sporting Goods (NYSE: DKS).

Investors locked in profits on TRW Automotive (NYSE: TRW). The company announced yesterday that it was expanding its electrically powered steering systems manufacturing facility in Poland by an additional 9,000 square meters.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 849.

The nation's unemployment rate rose to send the markets tumbling to a sharply lower open with the Dow plummeting 120 points to 12,598. Nasdaq plunged 31 points to 2840.

On the upside

Local.com (Nasdaq: LOCM) entered a two year advertising agreement with Google (Nasdaq: GOOG).

Amylin (Nasdaq: AMLN) and Alkermes (Nasdaq: ALKS) reported that their once a week diabetes drug Bydureon did not interfere with heart activity.

Canaccord Genuity analyst T. Michael Walkley cited strong iPod and iPhone sales for lifting his earnings outlook for fiscal year 2011 and 2012 and raising his price target for Apple (Nasdaq: AAPL) to $500.

On the downside

Autoliv (NYSE: ALV) reported that a Department of Justice and European Commission antitrust investigation that began on February 8, 2011 was ongoing and that the duration of the investigation was unknown.

Ixia (Nasdaq: XXIA) blamed lower than expected Asia Pacific sales for lowering its second quarter forecast.

Aeroflex (NYSE: ARX) blamed shipment approvals and orders delays for lowering its revenue guidance for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 845.

Private employers hired more workers than expected while jobless claims dropped to lift the markets to a sharply higher close with the Dow climbing 93 points to 12,719. Nasdaq surged 38 points to 2872.

On the upside

Bebe Stores (Nasdaq: BEBE) reported a 7% increase in same store sales for the fourth quarter and expects fourth quarter earnings to be at the high end of its guidance.

June same store sales climbed a better than expected 6% for Dillard's (NYSE: DDS).

GMX Resources (NYSE: GMXR) began drilling its first well at the Williston Basin in Stark, North Dakota.

On the downside

Shares of Allied Irish Banks (NYSE: AIB) fell after European Central Bank president Jean-Claude Trichet said that Irish banks would not receive a medium term liquidity facility.

Solar grade polysilicon prices have tumbled but JA Solar Holdings (Nasdaq: JASO) locked in prices with providers before the drop.

Pfizer (NYSE: PFE) was exploring the possibility of selling its animal health and nutrition business.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 858.

Jobless claims fell more than expected last week to boost the markets higher during the midday with the Dow surging 104 points to 12,730. Nasdaq leaped 40 points to 2874.

On the upside

OCZ Technology Group (Nasdaq: OCZ) reported first quarter earnings and revenue above analyst estimates and forecast full year results ahead of analyst expectations.

Rodman & Renshaw initiated coverage of Zalicus (Nasdaq: ZLCS) with a Market Outperform rating.

June same store sales for Kohl's (NYSE: KSS) surged 7.5% to surpass analyst expectations by a wide margin.

On the downside

Second quarter production fell for Forest Oil (NYSE: FST) due to flooding, plant downtime and divestiture.

Chief executive Douglas Miller of Exco Resources (NYSE: XCO) lowered his acquisition offer for the company to $4 billion in cash and an undisclosed amount in stock.

Natus Medical (Nasdaq: BABY) lowered its second quarter revenue outlook to fall below analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 14 points to 859.

First time applications for unemployment benefits fell more than expected last week to lift the markets to a higher open with the Dow soaring 82 points to 12,708. Nasdaq surged 29 points to 2863.

On the upside

JPMorgan's (NYSE: JPM) private investment division One Equity Partners will pay approximately $470 million in cash to acquire APAC Customer Services (Nasdaq: APAC).

Target (NYSE: TGT) reported a better than expected same store sales growth of 4.5% in June.

The Bedford Report cited recent data that there were more than 400 million internet users in China with the potential to increase to 750 million by 2015 for issuing reports that E-Commerce China Dangdang (NYSE: DANG) and Renren (NYSE: RENN) both offered growth opportunities with strong potential returns.

On the downside

Affymetrix (Nasdaq: AFFX) warned that second quarter revenue will fall below analyst expectations.

J.C. Penney (NYSE:JCP) reported a 2% increase in June same store sales but analysts expected a higher gain.

Lumber Liquidators (NYSE: LL) blamed continued weakness in the economy for forecasting second quarter earnings and revenue below analyst estimates. The company also cut its outlook for the full year.

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 soared 9 points to 854.

Expansion of the nation's service sector slowed in June but the markets closed modestly higher with the Dow climbing 56 points to 12,626. Nasdaq gained 8 points to 2834.

On the upside

iPass (Nasdaq: IPAS) introduced its carrier-grade platform for service providers iPass Open Mobile Exchange.

Con-Way (NYSE: CNW) will restore certain contributions to its retirement savings plan that were suspended during the economic downturn.

China Information Technology (Nasdaq: CNIT) announced yesterday that the Hunan Department of Health approved use of the company's proprietary digital hospital information system throughout the entire province.

On the downside

General Maritime (NYSE: GMR) will enter seven of its VLCCs into the commercial pool Seawolf Tankers that is managed by Heidmar.

A phone hacking scandal in the United Kingdom involving the tabloid News of the World, which is owned by News Corp. (NYSE: NWSA), expanded to include terrorist and murder victims in addition to politicians and movie stars.

Shares of Research in Motion (Nasdaq: RIMM) fell after the Canadian government indicated that it may review the $4.5 billion auction of Nortel's patents.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 845.

Markets Rebound At Midday

|

The markets rebounded during the midday with the Dow gaining 55 points to 12,625 even as growth in the nation's service sector slipped in June. Nasdaq rose 8 points to 2834.

On the upside

Rumors circulated that Kinetic Concepts (NYSE: KCI) engaged in discussions to be acquired.

Fuwei Films (Nasdaq: FFHL) signed a letter of intent to supply PETG heat shrinkable label films to Coca-Cola in China.

China New Borun (NYSE: BORN) extended its contract with auditors BDO China Shu Lun Pan Certified Public Accountants.

On the downside

A federal appeals court reinstated a legal challenge to union concessions made between YRC Worldwide (Nasdaq: YRCW) and the International Brotherhood of Teamsters.

Davenport & Co. downgraded Walter Energy (NYSE: WLT) to a Neutral rating.

DragonWave (Nasdaq: DRWI) announced the resignation of vice president of worldwide sales Brian McCormack.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 844.

Moody's downgrade of Portugal's debt rating yesterday weighed the markets down to a lower open with the Dow slipping 2 points to 12,567 while Nasdaq lost 6 points to 2819.

On the upside

Hutchinson Technology (Nasdaq: HTCH) reported preliminary third quarter results of higher sequential shipments and sales and expects fourth quarter shipments to increase.

PMI (NYSE: PMI) announced yesterday that it will now be able to recognize the value of a contingent promissory note from QBE Insurance Group on its financial statements.

Barclays Capital upgraded Tesoro (NYSE: TSO) to an Overweight rating.

On the downside

FBR Capital Markets analyst Craig Berger said that OmniVision Technology (Nasdaq: OVTI) appears to have missed a supply deadline for Apple's (Nasdaq: AAPL) iPhone.

Petrohawk Energy (NYSE: HK) amended its credit facility.

Moody's rated a new series of bonds from Banco Santander (NYSE: STD) Aaa but the stock price fell on concerns about the bank's exposure to Portugal, whose debt rating was downgraded to junk status yesterday.

In the broad market, declining issues outpaced advancers by nearly 7 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 838.

It was a mixed close for the markets with the Dow losing 12 points to 12,569 while Nasdaq gained 9 points to 2825 as factory orders rose but the increase fell short of analyst expectations.

On the upside

National Oilwell Varco (NYSE: NOV) will pay approximately $772 million in cash to acquire Ameron International (NYSE: AMN).

Silver prices rose to lift shares of Endeavor Silver (NYSE: EXK), First Majestic Silver (NYSE: AG) and Silver Wheaton (NYSE: SLW).

Baidu (Nasdaq: BIDU) partnered with Microsoft (Nasdaq: MSFT) to use Bing for some English language searches.

On the downside

IMAX (NYSE: IMAX) reported $23.1 million in global revenue for Transformers: Dark of the Moon 3D but the stock price dropped over concerns that audiences continue to favor 2D movies over 3D.

The Building Societies Association in the United Kingdom said that it is the responsibility of large banks to carry the costs of banking system reforms in the United Kingdom and that Lloyds (NYSE: LYG) must divest more of its holdings.

Shares of US Airways (NYSE :LCC) continued falling after Sabre Holdings requested dismissal last week of an antitrust lawsuit filed by the airliner.

In the broad market, advancing issues barely edged out decliners by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 841.

Markets Flat At Midday

|

The markets traded near the flatline during the midday with the Dow slipping 2 points to 12,580. Nasdaq rose 8 points to 2824.

On the upside

Oppenheimer analyst Boris Peaker initiated coverage of Zalicus (Nasdaq: ZLCS) with an Outperform rating.

Rising gold prices lifted shares of Yamana Gold (NYSE: AUY) and Kinross Gold (NYSE: KGC).

Silvercorp Metals (NYSE: SVM) issued a resource report for its BYP gold-lead-zinc project in Hunan Province, China indicating 225,400 ounces of gold and inferring an additional 208,000 ounces of gold, 111,272 ounces of lead and 283,964 tonnes of zinc.

On the downside

Advanced Energy (Nasdaq: AEIS) lowered its second quarter earnings and revenue guidance.

Goldman Sachs analyst Michael Bank cited weaker than expected sales of LCD television sets for downgrading AU Optronics (NYSE: AUO).

The Securities and Exchange Commission is investigating St. Joe (Nasdaq: NTCT) and chairman Bruce Berkowitz for impairment of investment policies as well as anti-fraud and audit practices.

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 10 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 841.

The markets opened lower with the Dow losing 8 points to 12,573 while Nasdaq eased a fraction to 2815 as factory orders rose less than expected in May.

On the upside

Private investment firm TPG Capital will acquire Immucor (Nasdaq: BLUD) for approximately $1.97 billion in cash.

Netflix (Nasdaq: NFLX) will launch an unlimited television show and movie streaming service in Latin America and the Caribbean at the end of 2011.

Energy Transfer increased its acquisition offer for Southern Union (NYSE: SUG) to $5.1 billion to top Williams' $4.9 billion bid for the pipeline company.

On the downside

Satcon Technology (Nasdaq: SATC) lowered its second quarter revenue outlook, cut its gross margin guidance and eliminated 15% of its workforce.

Unnamed sources said that Nokia (NYSE:NOK) cut the prices of its smartphones in order to improve its shrinking market share of smartphones.

NetScout Systems (Nasdaq: NTCT) forecast first quarter results below analyst expectations and cut its full year outlook.

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 lost a point to 838.

U. S. Markets Closed

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

The markets surged to close sharply higher with the Dow jumping 168 points to 12,582 as manufacturing activity expanded in June. Nasdaq leaped 42 points to 2816.

On the upside

Fourth quarter earnings slipped for Smith & Wesson (Nasdaq: SWHC) due to charges but revenue rose and the results surpassed analyst expectations.

CalAmp (Nasdaq: CAMP) swung to a profit for the first quarter.

BMO Capital Markets initiated coverage of Freescale Semiconductor (NYSE: FSL) with an Outperform rating.

On the downside

Celsion (Nasdaq: CLSN) will sell $6.6 million worth of company stock in a registered direct offering to institutional investors.

Profit takers continued to weigh down shares of Alanco Technologies (Nasdaq: ALAN), whose merger announcement on Wednesday sent the stock price soaring.

Vimicro International (Nasdaq: VIMC) widened fourth quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 840.

Manufacturing activity expanded in June to send the markets soaring during the midday with the Dow leaping 159 points to 12,573. Nasdaq surged 38 points to 2811.

On the upside

Quantum Fuel Systems Technologies (Nasdaq: QTWW) narrowed fourth quarter losses as revenue surged more than threefold.

Shares of InterDigital (Nasdaq: IDCC), which owns 8,800 patents, climbed after a consortium of technology companies including Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT) and Research in Motion (Nasdaq: RIMM) paid $4.5 billion to acquire patents from bankrupt Nortel Networks.

Brinker International's (NYSE: EAT) Chili's is revamping its menu, remodeling restaurants and offering Girls' Night Out parties to increase sales.

On the downside

Cyclacel Pharmaceuticals (Nasdaq: CYCC) priced its public offering of more than 7.6 million units at $1.36 per unit.

Shares of AMC Networks (Nasdaq: AMCX) fell on its first day of trading as a separate entity from Cablevision (Nasdaq: CVC).

Retreating gold prices weighed down shares of US Gold (NYSE: UXG).

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 838.

The Institute for Supply Management reported expansion in the manufacturing sector in June to lift the markets to a sharply higher open with the Dow soaring 126 points to 12,540. Nasdaq climbed 23 points to 2797.

On the upside

Activist investor Carl Icahn has accumulated 8.7 million shares of Oshkosh (NYSE: OSK) for a 9.5% stake in the heavy duty equipment and vehicle maker and said that the stock is undervalued.

Apollo Group (Nasdaq: APOL) reported higher third quarter earnings despite lower revenue and enrollment.

KB Home (NYSE: KBH) will not sell stock to raise capital and expects to have more than $500 million in cash at the end of the year after funding senior notes and settling a joint venture dispute.

On the downside

The International Trade Commission ruled against Eastman Kodak (NYSE: EK) saying that digital cameras in smartphones from Apple (Nasdaq: AAPL) and Research in Motion (NYSE: RIMM) did not infringe on Kodak's patents.

The Federal Deposit Insurance Corp. will review the marketing practices of Discover Financial Services (NYSE: DFS).

DemandTec (Nasdaq: DMAN) blamed one-time items and expenses for widening first quarter losses more than expected.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 6 points to 834.

About this Archive

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

June 2011 is the previous archive.

August 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