August 2011 Archives

The markets closed higher with the Dow gaining 53 points to 11,613 as unemployment rates in most major metropolitan areas dropped in July.  Nasdaq added 3 points to 2579.

On the upside

Shares of Clearwire (Nasdaq: CLWR) climbed after the sued to prevent AT&T's (NYSE: T) $39 billion purchase of T-Mobile.

Genesco (NYSE: GCO) narrowed second quarter losses as revenue climbed.

Mitek Systems (Nasdaq: MITK) president and chief executive officer James DeBello will ring The NASDAQ Stock Market closing bell on Wednesday, September 7.

On the downside

Investors locked in profits on Coffee Holding (Nasdaq: JVA), whose shares climbed on Monday after The Bedford Report issued a research report on the coffee sector.

Shares of MGIC (NYSE: MTG) continued falling after a Seeking Alpha contributor wrote yesterday that more mortgage defaults are expected.

Profit taking weighed down shares of Eastman Kodak (NYSE: EK). The stock price rose on Monday after a Seeking Alpha contributor wrote that Eastman Kodak was undervalued.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 726.

An unexpected 2.4% jump in June factory orders lifted the markets during the midday with the Dow climbing 80 points to 11,640.  Nasdaq gained 9 points to 2586.

On the upside

Openwave Systems (Nasdaq: OPWV) filed a complaint with the International Trade Commission alleging that Apple (Nasdaq: AAPL) and Research in Motion (Nasdaq: RIMM) infringed on its patents.

Shares of Sprint (NYSE: S) climbed after the Department of Justice filed a federal suit to block AT&T's (NYSE: T) proposed $39 billion acquisition of T-Mobile.

Stereotaxis (Nasdaq: STXS) reported upbeat trial results for its Robotic Ablation System to treat ventricular tachycardia.

On the downside

Zale (NYSE: ZLC) widened fourth quarter losses due to inventory charges.

OMNOVA Solutions (NYSE: OMN) blamed the global economic downturn for cutting its 2011 full year earnings outlook.

Billionaire investor Carl Icahn will sell his entire stake in Lions Gate Entertainment (Nasdaq: LGF).


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 731.

Optimism that the Federal Reserve may infuse the ailing economy with additional stimulus funds lifted the markets to a sharply higher open with the Dow soaring 118 points to 11,678.  Nasdaq climbed 23 points to 2599.

On the upside

Bank of America (NYSE: BAC) will raise capital through the sale of its correspondent mortgage unit.

AUO Optronics (NYSE: AUO) reorganized its Display Business Operation and established an Executive Strategic Planning Division.

Vera Bradley (Nasdaq: VRA) reported higher second quarter earnings that beat analyst expectations as revenue climbed.

On the downside

LTX-Credence (Nasdaq: LTXC) reported lower fourth quarter earnings that missed expectations and warned of losses for the first quarter.

DryShips (Nasdaq: DRYS) swung to a greater than expected loss for the second quarter as expenses climbed.

Evercore Partners analyst Patrick Wang expects continued weakness in the chip industry and warned that TriQuint (Nasdaq: TQNT) may be vulnerable to a downturn in the sector.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 735.

News that the Federal Reserve considered additional stimulus measures during its August 9 meeting to strengthen the nation's economy lifted the markets to a higher close with the Dow rising 20 points to 11,559.  Nasdaq gained 14 points to 2576.

On the upside

Three Monster Worldwide (NYSE: MWW) executives acquired shares in the company.

The former chief financial officer of Beazer Homes (NYSE: BZH), James O'Leary, will return $1.4 million in bonus payments and stock sales that he earned when the homebuilder committed accounting fraud.

Rising silver prices lifted shares of Silvercorp Metals (NYSE: SVM).

On the downside

A Seeking Alpha article said that mortgage insurer MGIC Investment (NYSE: MTG) will record more delinquencies.

VASCO Data Security International (Nasdaq: VDSI) said that it will take every precaution to secure its SSL and EVSSL certificate offerings at its subsidiary DigiNotar after an intrusion was detected in July.

CNinsure (Nasdaq: CISG) disappointed with lower second quarter earnings.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 728.

Markets Lower At Midday

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The markets recovered earlier losses but continued trading lower during the midday with the Dow losing 15 points to 11,523.  Nasdaq added a point to 2563.

On the upside

Sinovac Biotech (Nasdaq: SVA) will participate in four investor conferences in September.

Gabelli & Co. upgraded Corinthian Colleges (Nasdaq: COCO) to a Buy rating.

CoreLogic (NYSE: CLGX) retained the services of Greenhill & Co. to explore strategic options including the possible sale of the company.

On the downside


The analyst consensus earnings estimate for Alpha Natural Resources (NYSE: ANR) was lowered.

Avnet (NYSE: AVT) operating group Avnet Electronics Marketing celebrated 25 years of partnership with Xilinx but the stock price fell.

Winn-Dixie (Nasdaq: WINN) disappointed with sharply lower fourth quarter earnings as revenue fell.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 719.

Consumer confidence in August plunged to its lowest level in more than two years to weigh the markets down to a lower open with the Dow tumbling 73 points to 11,466.  Nasdaq fell 12 points to 2549.

On the upside

DG Fastchannel (Nasdaq: DGIT) paid approximately $66 million in cash to acquire Limelight Networks' (Nasdaq: LLNW) EyeWonder rich media advertising unit.

A Seeking Alpha contributor wrote that Eastman Kodak (NYSE: EK) was undervalued with strong revenue growth in its consumer inkjet and packaging solutions units.

Ticonderoga upgraded PulteGroup (NYSE: PHM) to a Buy rating.

On the downside


The Food and Drug Administration rejected NuPathe's (Nasdaq: PATH) single-use migraine patch Zelrix.

Investors locked in profits on National Bank of Greece (NYSE: NBG), whose shares surged yesterday after the merger of two Greek banks sparked speculation of further banking consolidations.

Profit takers weighed down shares of Central European Distribution (Nasdaq: CEDC), whose shares climbed yesterday on news that investor Mark Kaufman acquired a 9.6% stake in the vodka maker.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 718.

The markets surged to close sharply higher with the Dow rocketing 254 points to 11,539 as Hurricane Irene caused less damage than expected.  Nasdaq jumped 82 points to 2562.

On the upside

Investor Mark Kaufman acquired a 9.6% stake in Central European Distribution (Nasdaq: CEDC).

Miller Energy Resources (NYSE: MILL) announced an investor conference call tomorrow, August 30, 2011, at 4:30pm Eastern Time.

MGIC Investment (Nasdaq: MTG) chief financial officer Jon Michael Lauer acquired 20,000 shares of company stock.

Shares of Winn-Dixie Stores (Nasdaq: WINN) rose ahead of its earnings release.

Motley Fool selected Global Industries (Nasdaq: GLBL) as its top small cap energy stock pick.

Cisco Systems (Nasdaq: CSCO) purchased software firm Versly for an undisclosed sum.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 32 points to 724.

The markets extended its gains during the midday with the Dow soaring 206 points to 11,491 as consumer spending climbed in July.  Nasdaq leaped 66 points to 2546.

On the upside

Venoco (NYSE: VQ) chairman and chief executive Timothy Marquez offered to acquire the company for $12.50 per share.

Capital One upgraded Dresser-Rand (NYSE: DRC) to an Add rating from Neutral.

Hartford Financial Services Group (NYSE: HIG) chief executive Liam McGee said that costs from Hurricane Irene damage fell within its expected range.

The Bedford Report issued a research report on Coffee Holding Co. (Nasdaq: JVA).

Bargain hunters lifted shares of Camelot Information Systems (NYSE: CIS). The stock price fell last week after reporting disappointing second quarter earnings.

Bank of America (NYSE: BAC) will sell 13.1 billion common shares of China Construction Bank.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 26 points to 717.

The markets opened higher with the Dow soaring 152 points to 11,437 after estimates of damage from Hurricane Irene were far lower than expected.  Nasdaq jumped 50 points to 2530.

On the upside

Bargain hunters lifted shares of Star Scientific (Nasdaq: CIGX), whose stock price fell after losing an appeal in a patent infringement case.

DreamWorks (Nasdaq: DWA) entered an online distribution agreement with Youku.com (NYSE: YOKU) to offer the Kung Fu Panda films on-demand on Youku Premium then subsequently on Youku's Hollywood Movie Channel.

QLT (Nasdaq: QLTI) reported positive results from a Phase II clinical trial of its Latanoprost Punctal Plug Delivery System to treat glaucoma.

Jefferies analyst Jeffrey Holford said that Pfizer's (NYSE: PFE) and Bristol-Myers' (NYSE: BMY) blood thinner Eliquis significantly reduced bleeding and had the potential to become the leading stroke prevention medication.

Qualcomm (Nasdaq: QCOM) announced the appointment of senior vice president and president of Qualcomm Korea Dr. YK Cha to the position of senior advisor to senior vice president of worldwide sales and president of Qualcomm CDMA Technologies Asia Jim Doh and the promotion of Mr. Doh to lead the combined Qualcomm Korea operations.

On the downside

AuRico Gold (NYSE: AUQ) will acquire Northgate Minerals.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 15 points to 707.

Comments by Federal Reserve Chairman Ben Bernanke that the nation's troubled economy was on the right path to long-term growth lifted the markets to a sharply higher close with the Dow surging 134 points to 11,284.  Nasdaq leaped 60 points to 2479.

On the upside

HollyFrontier (NYSE: HFC) increased its quarterly dividend to 17.5 cents per share from 15 cents per share payable October 4, 2011 to shareholders of record September 16, 2011.

DFC Global (Nasdaq: DLLR) reversed year ago losses to post a better than expected profit for the fourth quarter.

Quanex Building Products (NYSE: NX) increased its stock repurchase plan to buy back an additional million shares of common stock.


On the downside

UBS analyst Brian Pitz lowered his 2012 revenue outlook for Yahoo (Nasdaq: YHOO) citing falling page views.

Hewlett-Packard (NYSE: HPQ) reassigned chief communications officer Bill Wohl to a different position and named chief marketing officer Marty Homlish to lead corporate communications on an interim basis.

Harbin Electric (Nasdaq: HRBN) denied rumors that it altered documents filed in China with the SAIC and asserted that no directors or managers have resigned.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 17 point to 691.

The markets extended its gains during the midday with the Dow surging 133 points to 11,283 after Federal Reserve Chairman Ben Bernanke said that the nation's economy was moving in the right direction for long-term growth.  Nasdaq leaped 62 points to 2482.

On the upside

Krispy Kreme Doughnuts (NYSE: KKD) reported sharply higher fourth quarter earnings that quadrupled.

Fourth quarter earnings climbed for Micros Systems (Nasdaq: MCRS) as revenue rose.

Brand management firm Galaxy International paid $55 million for Brown Shoe's (Nasdaq: BWS) AND1 brand.

Shares of mortgage insurer Radian Group (NYSE: RDN) and MGIC Investment (NYSE: MTG) continued rising after S&P revised its methodologies for rating bond insurers.

Piper Jaffray analyst Mark Murphy initiated coverage of SuccessFactors (NYSE: SFSF) with an Overweight rating and a price target of $27.


On the downside

Star Scientific (Nasdaq: CIGX) lost its bid for a new patent infringement trial against Reynolds American (NYSE: RAI).

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 16 point to 690.

The markets opened higher with the Dow rising 24 points to 11,173 after Federal Reserve Chairman Ben Bernanke assured investors that the central bank could further stimulate the economy if necessary.  Nasdaq climbed 31 points to 2451.

On the upside

Aruba Networks (Nasdaq: ARUN) reported sharply higher fourth quarter earnings that topped analyst estimates.

Pandora Media (NYSE: P) widened second quarter losses due to charges but the results were better than expected and the Internet radio company forecast full year earnings ahead of estimates.

Second quarter earnings climbed for Tiffany & Co. (NYSE: TIF) to beat analyst expectations by a wide margin prompting the fine jewelry retailer to lift its full year outlook.


On the downside

OmniVision (Nasdaq: OVTI) reported higher first quarter earnings but forecast second quarter earnings well below analyst expectations.

Bloomberg reported that Clearwire (Nasdaq: CLWR) was exploring debt restructuring options.

Magma Design Automation (Nasdaq: LAVA) narrowed first quarter losses but revenue fell short of 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 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 673.

The markets plunged to close sharply lower with the Dow sinking 170 points to 11,149 ahead of Federal Reserve Chairman Ben Bernanke's speech tomorrow.  Nasdaq plummeted 48 points to 2419.

On the upside

Bargain hunters lifted shares of PulteGroup (NYSE: PHM) whose stock price tumbled after Tuesday's report that new home sales dropped.

Standard & Poor's revised its standards for assessing the credit worthiness of bond insurers such as Assured Guaranty (NYSE: AGO) and MBIA.

Yangkou Town, Shouguang City in China will compensate Gulf Resources' (Nasdaq: GURE) subsidiary Shouguang City Haoyuan Chemical for relocation expenses incurred when the government recalled the lease at the company's Factory No. 4.


On the downside

Rue21 (Nasdaq: RUE) reported higher second quarter earnings but the results missed estimates and the teen clothing retailer warned of disappointing summer sales.

Hormel Foods (NYSE: HRL) reported higher third quarter earnings but the volume of products sold remained flat.

Guess (NYSE: GES) reported lower second quarter earnings and forecast current quarter results below estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 674.

Markets Extend Losses At Midday

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The markets extended its losses during the midday with the Dow plummeting 166 points to 11,153 despite Warren Buffet's infusion of $5 billion into Bank of America.  Nasdaq plunged 41 points to 2426.

On the upside

A Seeking Alpha contributor named MGIC Investment (NYSE: MTG) as one of seven stocks under $5 that may double next year.

Equity Markets issued a research report on Universal Panel (Nasdaq: PANL).

A123 Systems (Nasdaq: AONE) will supply battery packs for ALTe's light trucks.


On the downside

GenOn Energy (NYSE: GEN) announced the departure of president and chief operating officer Mark M. Jacobs.

Delta Air Lines (NYSE: DAL) will pay $8.5 billion to purchase 100 new Boeing (NYSE: BA) 737 jets.

Solera Holdings (Nasdaq: SLH) blamed higher expenses for a drop in fourth quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 683.

The resignation of Apple CEO Steve Jobs shocked the investment community sending the markets to a sharply lower open with the Dow plunging 155 points to 11,165.  Nasdaq plummeted 38 points to 2429.

On the upside

Billionaire investor Warren Buffet will acquire 50,000 shares of Bank of America (NYSE: BAC) cumulative preferred stock for $5 billion saying that the bank is under strong leadership.

TiVo (Nasdaq: TIVO) widened second quarter losses as expenses climbed but the results were better than expected.

After swinging to a third quarter loss, footwear retailer Collective Brands (NYSE: PSS) announced the closure of 475 stores and retained the services of Perella Weinberg Partners and Kurt Salmon to explore strategic alternatives to increase shareholder value.


On the downside

Brown Shoe (NYSE: BWS) disappointed by swinging to a wider than expected loss for the second quarter and cut its full year guidance.

Sigma Designs (Nasdaq: SIGM) swung to a loss for the the second quarter as revenue tumbled.

Patterson Companies (Nasdaq: PDCO) reported lower first quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 683.

The markets rallied with the Dow soaring 143 points to 11,320 after analyst comments restored confidence in the financial services sector.  Nasdaq climbed 21 points to 2467.

On the upside

Peregrine Pharmaceuticals (Nasdaq: PPHM) reported upbeat results from a Phase II clinical trial of its advanced breast cancer treatment bavituximab combined with docetaxel.

The Butter Group partnered with Mirage Hotel & Casino, which is owned by MGM (NYSE: MGM), to open the one-of-a-kind nightlife experience 10AK.

Aspen Technology (Nasdaq: AZPN) reversed year ago losses to post a better than expected profit for the fourth quarter.


On the downside

Inphi (NYSE: IPHI) blamed a slowdown in orders and delays in shipments for slashing its third quarter guidance.

Globe Specialty Metals (Nasdaq: GSM) reported higher fourth quarter earnings but the results fell short of analyst expectations.

A drop in silver prices weighed down shares of Endeavour Silver (NYSE: EXK).

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 gained 9 points to 692.

Bank of America recovered as analyst comments restored confidence in the financial sector. The markets opened higher with the Dow gaining 64 points to 11,241.  Nasdaq added 2 points to 2448.

On the upside

Bargain hunters lifted shares of MGIC Investment (NYSE: MTG), whose stock price fell earlier this week when rival PMI (NYSE: PMI) was ordered by the Arizona Department of Insurance to stop writing new policies.

Avago (Nasdaq: AVGO) reported higher third quarter earnings that topped analyst estimates as revenue rose.

Bank analyst Meredith Whitney said on "Bloomberg Surveillance" that Bank of America (NYSE: BAC) did not need to raise capital immediately.


On the downside

United Therapeutics' (Nasdaq: UTHR) oral formulation of its pulmonary arterial hypertension treatment treprostinil failed a late stage clinical trial.

Pacific Sunwear (Nasdaq: PSUN) narrowed second quarter losses but the teen retailer forecast third quarter results below estimates.

Second quarter earnings for American Eagle Outfitters (NYSE: AEO) doubled but the results fell short of expectations and the teen retailer warned of lower margins in the second half of the year.

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 climbed 10 points to 693.

Markets Surge On Bargain Hunting

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Despite a drop in new home sales, the markets surged to close sharply higher with the Dow rocketing 322 points to 11,176 as investors snapped up bargains.  Nasdaq leaped 100 points to 2446.

On the upside

TD Newcrest upgraded Ivanhoe Mines (NYSE: IVN) from Hold to Speculative Buy.

Fossil (Nasdaq: FOSL) chief financial officer Mike Kovar purchased 2,000 shares of company stock.

NPD Group reported that Apple's (Nasdaq: AAPL) iPhone 4 was the best selling smartphone in the second quarter with Apple's older iPhone 3GS coming in second.

ExxonMobil (NYSE: XOM) will drill a bypass to its Silvertip in Montana pipeline early next week once all permits have been approved.

Shares of MEMC Electronic Materials (NYSE: WFR) climbed after Goldman Sachs said that the solar industry was close to hitting bottom.


On the downside

USA Truck (Nasdaq: USAK) warned of losses for the third quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 31 points to 683.

Hope For Fed Action Boosts Markets

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Optimism that the Federal Reserve will act again to strengthen the nation's faltering economy sent the markets soaring during the midday with the Dow leaping 178 points to 11,033. Nasdaq jumped 59 points to 2404.

On the upside

Universal Display (Nasdaq: PANL) will supply Samsung Mobile Display with its OLED technology.

Second quarter earnings surged for Perfect World (Nasdaq: PWRD) as revenue soared.

Axiom Capital analyst Gordon Johnson upgraded JA Solar (Nasdaq: JASO) from a Hold rating from Sell.


On the downside

RealPage (Nasdaq: RP) will pay approximately $74.4 million in cash and stock to acquire privately held Multifamily Technology Solutions.

Motricity (Nasdaq: MOTR) terminated the employment of its chief executive Ryan Wuerch and named president and chief operating officer as interim chief executive.

A drop in new home sales weighed down share of PulteGroup (NYSE: PHM).

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 19 points to 670.

Markets Rebound On Bargain Hunting

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The markets rebounded with the Dow soaring 126 points to 10,980 as investors snapped up bargains. Nasdaq surged 38 points to 2384.

On the upside

Melco Crown Entertainment (Nasdaq: MPEL) reversed year ago losses to post a profit for the second quarter.

Omnicare (NYSE: OCR) offered approximately $441 million to acquire rival pharmaceutical services firm PharMerica (NYSE: PMC).

Trina Solar (NYSE: TSL) reported lower second quarter earnings but expects to ship more solar panel in the third quarter.


On the downside

Corinthian Colleges (Nasdaq: COCO) disappointed with sharply lower fourth quarter earnings that fell short of analyst expectations and warned of losses for the first quarter.

Concerns about Bank of America's (NYSE: BAC) mortgage liabilities sent the bank's credit default swap insurance soaring.

Temple-Inland (NYSE: TIN) was sued by bankrupt Guaranty Financial Group's liquidating trust.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 660.

The markets closed modestly higher with the Dow rising 37 points to 10,854 as investors await comments by Federal Reserve Chairman Ben Bernanke at the end of the week. Nasdaq added 3 points to 2345.

On the upside

Trefis suggested that Intel (NYSE: INTC) should acquire Nvidia (Nasdaq: NVDA) in order to compete with Advanced Micro Devices (NYSE: AMD).

Rising gold prices lifted shares of Harmony Gold (NYSE: HMY) and Jaguar Mining (NYSE: JAG).

Bargain hunters lifted shares of Hewlett-Packard (NYSE: HPQ), whose stock price plunged last week after announcing that the company would sell its personal computer business.


On the downside

Shares of MGIC Investment (NYSE: MTG) fell after the Arizona Department of Insurance placed rival PMI (NYSE: PMI) under regulatory supervision and ordered the insurer to halt the writing of all new insurance policies.

Shares of Camelot Information Systems (NYSE: CIS) continued falling after reporting lower second quarter earnings last week.

Jefferies equity derivatives specialist Layla Peruzzi wrote that Bank of America (NYSE: BAC) may have to raise up to $50 billion in capital while Wells Fargo (NYSE: WFC) lowered its price target on the bank.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 651.

The markets retreated from early morning highs but continued to trade in positive territory with the Dow gaining 57 points to 10,875 as investors snapped up bargains. Nasdaq rose 3 points to 2345.

On the upside

LG  Electronics' announcement that it will introduce an OLED-equipped smartphone in September lifted shares of OLED technology firm Universal Display (Nasdaq: PANL).

Rising silver prices lifted shares of Endeavor Silver (NYSE: EXK), First Majestic Silver (NYSE: AG) and Hecla Mining (NYSE: HL).

The New York Post reported that Apollo Management may be interested in acquiring 99 Cents Only Stores (NYSE: NDN).


On the downside

Shares of Eastman Kodak (NYSE: EK) retreated after analysts said that Google's (Nasdaq: GOOG) $12.5 billion offer for Motorola Mobility (NYSE: MMI) leveled the playing field and popped the patent acquisition bubble.

Piper Jaffray downgraded New York & Co. (NYSE: NWY) to a Neutral rating.

The Arizona Department of Insurance placed two of PMI's (NYSE: PMI) units under regulatory supervision for failing to meet capital requirements.

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 added a point to 653.

Bargain hunters lifted the markets to a higher open with the Dow soaring 148 points to 10,965. Nasdaq surged 38 points to 2380.

On the upside

Chinese online media company Sina (Nasdaq: SINA) acquired approximately a 4% stake in Chinese online video company Tudou Holdings (Nasdaq: TUDO), which made its Nasdaq debut last Wednesday.

HSBC and Avian both upgraded Yingli Green Energy (NYSE: YGE) after the photovoltaic products company reported second quarter earnings last Friday that topped analyst estimates.

MicroStockProfit and Equity Markets both issued research reports on Clearwire (Nasdaq: CLWR).

Reports that turmoil in Libya may soon end lifted shares of American Airlines parent AMR (NYSE: AMR).

Goodyear Tire & Rubber (NYSE: GT) announced that its new headquarters in Akron, Ohio is on schedule for completion in 2013.

On the downside

Canaccord affirmed its Sell rating on Seattle Genetics (Nasdaq: SGEN).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 660.

Fears of a double dip recession sent the markets tumbling to a sharply lower close with the Dow plummeting 172 points to 10,817. Nasdaq plunged 38 points to 2341.

On the upside

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

Wet Seal (Nasdaq: WTSLA) reported higher second quarter earnings as revenue rose to top analyst estimates.

The Food and Drug Administration approved Seattle Genetics' (Nasdaq: SGEN) cancer treatment Adcetris.

On the downside

Instead of acquiring Barnes & Noble (NYSE: BKS) for $1 billion, Liberty Media will now invest $204 million in the book retailer.

Glu Mobile (Nasdaq: GLUU) introduced its popular Bug Village mobile game for the Windows Phone 7 platform but the stock price fell.

London's High Court ordered private detective Glenn Mulcaire to name the News Corp. (Nasdaq: NWS) reporter who hired him to engage in illegal phone hacking.

In the broad market, declining issues outpaced advancers by a margin of more than 8 to 3 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 651.

A drop in global markets weighed domestic markets down during the midday with the Dow plunging 133 points to 10,856. Nasdaq tumbled 28 points to 2352.

On the upside

Intuit (Nasdaq: INTU) widened fourth quarter losses but the results topped analyst estimates as revenue rose.

Silicon Graphics International (Nasdaq: SGI) narrowed fourth quarter losses as revenue climbed.

J.C. Penney (NYSE: JCP) relaxed shareholder restrictions to allow William Ackerman's Pershing Square Capital Management to increase its 16.5 percent stake in the department store to 26.1 percent.

On the downside

Baird analyst C. Patrick Scholes downgraded Gaylord Entertainment (NYSE: GET) to a Market Perform rating and slashed his price target from $31 to $11 saying that the continued economic slump will hinder revenue growth.

New York & Co. (NYSE: NWY) narrowed second quarter losses but revenue dropped to fall short of analyst expectations.

Autodesk (Nasdaq: ADSK) reported higher second quarter earnings that topped estimates but investors were disappointed that the company forecast current quarter results in line with expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 655.

Bargain hunters snapped up deals after yesterday's sharp sell-off to lift the markets to a modestly higher open with the Dow rising 8 points to 10,998. Nasdaq gained 16 points to 2397.

On the upside

Bloomberg reported that Sprint (NYSE: S) engaged in discussions to acquire Clearwire (Nasdaq: CLWR).

Second quarter earnings slipped for Marvel Technology Group (Nasdaq: MRVL) but the results topped estimates .

Ann (NYSE: ANN) reported higher second quarter earnings that beat analyst expectations, forecast current quarter revenue ahead of estimates and lifted its full year outlook.

On the downside

Hewlett-Packard (NYSE: HPQ) reported higher third quarter earnings that topped analyst estimates but the company lowered its full year earnings and revenue outlook.

LDK Solar (NYSE: LDK) blamed a sharp drop in prices for slashing its second quarter as well as its full year guidance.

Aeropostale (NYSE: ARO) disappointed with sharply lower second quarter earnings as revenue fell and forecast current quarter results well below analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 670.

Rising jobless applications and higher inflation amidst weak manufacturing activity sparked a sell-off to send the markets tumbling to a sharply lower close with the Dow crashing 419 points to 10,990. Nasdaq collapsed 131 points to 2380.

On the upside

Casual Male Retail Group (Nasdaq: CMRG) reported higher second quarter earnings that topped analyst estimates as revenue rose.

On the downside

Billionaire investor Kirk Kerkorian's Tracinda investment firm sold 20 million shares of MGM Resorts International (NYSE: MGM).

Gentium (Nasdaq: GENT) withdrew its new drug application for the veno-occlusive disease treatment Defibrotide over concerns about the quality of the datasets and databases for the clinical trials prompting a downgrade.

Shares of Tudou Holdings (Nasdaq: TUDO) continued falling after a very disappointing initial public offering yesterday.

Aeroflex Holding (NYSE: ARX) swung to a fourth quarter loss and forecast current quarter results below estimates.

Second quarter earnings for Stage Stores (NYSE: SSI) slipped to fall short of expectations and the company warned that third quarter losses will be wider than expected.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 41 points to 662.

Concerns about Greece's bailout package sent the markets tumbling during the midday with the Dow collapsing 409 points to 11,000. Nasdaq skidded 109 points to 2401.

On the upside

Hot Topic (Nasdaq: HOTT) narrowed second quarter losses as revenue edged up and the apparel retailer announced a $25 million stock repurchase plan.

The Food and Drug Administration approved for marketing the anti-fungal over the counter treatment Tolnaftate-D made by Apricus Biosciences' (Nasdaq: APRI) wholly owned subsidiary NexMed USA.

Bloomberg reported that Hewlett-Packard (NYSE: HPQ) plans to spin-off its personal computer unit and that the company is finalizing a deal to acquire British enterprise software company Autonomy.

On the downside

Silver Peak Systems filed a patent infringement suit against Riverbed Technology (Nasdaq: RVBD).

Pacific Crest downgraded Acme Packet (Nasdaq: APKT) to a Sector Perform rating from Outperform.

Camelot Information Systems (NYSE: CIS) disappointed with lower second quarter earnings as expenses climbed.

In the broad market, declining issues outpaced advancers by a margin of 10 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 29 points to 674.

Morgan Stanley warned that the nation was poised on the brink of a recession and cut its global growth guidance sending the markets tumbling to a sharply lower open with the Dow crashing 425 points to 10,984. Nasdaq collapsed 110 points to 2400.

On the upside

The Food and Drug Administration granted DARA Biosciences' (Nasdaq: DARA) chemotherapy-induced neuropathic pain treatment KRN5500 Fast Track status.

Second quarter earnings fell for Sina (Nasdaq: SINA) as expenses climbed but revenue rose to top analyst estimates.

Shares of Eastman Kodak (NYSE: EK) continued rising as the company explores the sale of its extensive patent portfolio.

On the downside

NetApp (Nasdaq: NTAP) reported lower first quarter earnings and announced the retirement of chief financial officer Steve Gomo at the end of the year.

State owned China Central Television engaged in a campaign against Baidu (Nasdaq: BIDU) by criticizing the search engine's bid ranking system and accusing the Baidu of failing to police its message boards.

Apple (Nasdaq: AAPL) announced the departure of mobile advertising executive Andy Miller.

In the broad market, declining issues outpaced advancers by a margin of more than 13 to 1 on the NYSE and by more than 15 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 37 points to 666.

Mixed Close As Dell Lowers Outlook

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The markets recovered earlier losses to close mixed with the Dow adding 4 points to 11,410 as retailers posted upbeat results while Dell lowered its full year outlook. Nasdaq lost 11 points to 2511.

On the upside

Billionaire investor Wilbur Ross acquired shares of The Governor and Company of The Bank of Ireland (NYSE: IRE) last week.

Shares of Youku.com (NYSE: YOKU) climbed after the stock price of rival Tudou Holdings (Nasdaq: TUDO) tumbled on its first trading day.

The Wall Street Journal reported that MarketAxess (Nasdaq: MKTX) may be exploring a possible sale of the electronic trading platform.

On the downside

TheStreet contributor Eric Jackson expects the stock price E-Commerce China Dangdang (Nasdaq: DANG) to drop as margins continued to fall.

Liberty Media may acquire a minority stake in Barnes & Noble (NYSE: BKS) instead of purchasing the entire company.

Negative comments from Mad Money's Jim Cramer weighed down shares of Travelzoo (NYSE: TZOO).

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 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 704.

The markets retreated into negative territory during the midday with the Dow falling 60 points to 11,345 over renewed concerns about European debt. Nasdaq dropped 27 points to 2496.

On the upside

Clearwire (Nasdaq: CLWR) chairman John W. Stanton purchased 2.755 million shares of company stock.

Photronics (Nasdaq: PLAB) impressed with third quarter earnings that nearly doubled to top estimates as revenue climbed.

InterDigital (Nasdaq: IDCC) will move forward with its auction to sell the company.

On the downside

Shares of Chinese online video company Tudou Holdings (Nasdaq: TUDO) tumbled on its first trading day.

A federal judge will allow US Airways Group (NYSE: LCC) to sue its pilots union for illegally encouraging and disrupting airline operations.

Flower Foods (NYSE: FLO) blamed higher expenses for a drop in second quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 699.

Upbeat earnings news lifted the markets to a higher open with the Dow climbing 93 points to 11,03. Nasdaq gained 18 points to 2541.

On the upside

Staples (Nasdaq: SPLS) reported higher second quarter earnings that topped analyst expectations as revenue rose.

MDB Capital Group said that Eastman Kodak's (NYSE: EK) digital imaging patents may be worth $3 billion.

Second quarter earnings rose for Target (NYSE: TGT) and the company forecast full year results ahead of estimates.

On the downside

Dell (Nasdaq: DELL) reported sharply higher second quarter earnings that surpassed analyst expectations but the computer maker lowered its full year revenue guidance.

First quarter earnings for Blue Coat Systems (Nasdsaq: BCSI) plunged to fall short of analyst expectations and the Internet security products company forecast current quarter results below estimates.

Abercrombie & Fitch (NYSE: ANF) reported higher second quarter earnings that beat analyst expectations but the teen apparel retailer warned of that higher costs pressure margins.

In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 714.

Disappointment with European leaders' handling of their debt crisis weighed the markets down to a lower close with the Dow dropping 76 points to 11,405. Nasdaq fell 31 points to 2523.

On the upside

Regis (NYSE: RGS) shareholder Starboard Value said in a letter to Regis that the company is undervalued, expenses must be lowered and non-core businesses need to be sold.

General Steel Holdings (NYSE: GSI) narrowed second quarter losses as revenue nearly doubled.

USA Technologies (Nasdaq: USAT) reported that customers using its ePort cashless payment system at vending machines spent more on purchases than customers using cash.

On the downside

Mad Money's Jim Cramer recommended selling SodaStream (Nasdaq: SODA) saying that the company was not headed in a profitable direction.

France's and Germany's proposal to impose a financial-transaction tax weighed down shares of NYSE Euronext (NYSE: NYX).

MedQuist Holdings (Nasdaq: MEDH) reversed year ago losses to post a profit for the second quarter but revenue slipped to fall short of expectations.

In the broad market, declining issues outpaced advancers by a margin of 8 to 3 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 704.

The markets extended its losses during the midday with the Dow tumbling 136 points to 11,346 as investors monitored discussions between Germany and France for political solutions to the economic crisis. Nasdaq plunged 46 points to 2508.

On the upside

Falling oil prices lifted shares of Delta Air Lines (NYSE: DAL).

Private equity firm Permira Funds will pay approximately $440 million to acquire Renaissance Learning (Nasdaq: RLRN).

China Medical Technologies (Nasdaq: CMED) reported higher first quarter earnings as revenue climbed.

On the downside

Magnum Hunter (NYSE: MHR) declared a warrant dividend to purchase common shares at $10.50 per share payable on October 14, 2011 to shareholders of record August 31, 2011.

China TechFaith Wireless Communication Technology (Nasdaq: CNTF) reported lower second quarter earnings even as revenue climbed.

Gulf Resources (Nasdaq: GURE) blamed rising expenses and a drop in bromine production for sharply lower second quarter earnings and cut its full year outlook.

In the broad market, declining issues outpaced advancers by a margin ofnearly 4 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 701.

Disappointingly sluggish expansion of the German economy weighed the markets down to a lower open with the Dow dropping 68 points to 11,414. Nasdaq tumbled 24 points to 2531.

On the upside

The Food and Drug Administration approved Marshall Edwards' (Nasdaq: MSHL) new drug application for its NADH oxidase inhibitor cancer treatment ME-143.

Home Depot (NYSE: HD) reported higher second quarter earnings that beat analyst expectations as revenue rose prompting the home improvement chain to lift its full year guidance.

Brazilian managed data services provider Supportcomm selected Motricity (Nasdaq: MOTR) technology to support expansion of its mobile services platform in Latin America.

On the downside

ValueVision Media (Nasdaq: VVTV) narrowed second quarter losses but the results fell short of analyst expectations.

VanceInfo Technologies (NYSE: VIT) blamed higher expenses for lower second quarter earnings that missed estimates. The software developer forecast current quarter as well as full year results below expectations.

E-Commerce China Dangdang (NYSE: DANG) widened second quarter losses as expenses climbed.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 708.

Corporate consolidations lifted the markets to a sharply higher close with the Dow jumping 213 points to 11,482. Nasdaq soared 47 points to 2555.

On the upside

Bargain hunters lifted shares of Dendreon (Nasdaq: DNDN), whose stock price plunged last week with the rest of the market.

Carlyle Group entered exclusive negotiations with Pharmaceutical Product Development (Nasdaq: PPDI) to acquire the clinical research organization.

Shares of Beazer Homes (NYSE: BZH) and Hovnanian Enterprise (NYSE: HOV) both rose even as home builder sentiment held steady in August.

On the downside

China Housing & Land Development (Nasdaq: CHLN) disappointed with sharply lower second quarter earnings as revenue plunged.

Atrinsic (Nasdaq: ATRN) widened second quarter losses as revenue fell.

QKL Stores (NYSE: QKLS) blamed higher selling expenses for swinging to a second quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 21 points to 718.

Markets Advance At Midday

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The markets extended its gains during the midday with the Dow leaping 161 points to 11,430 as Google's acquisition of Motorola Mobility boosted investor sentiment. Nasdaq climbed 29 points to 2537.

On the upside

China XD Plastics (Nasdaq: CXDC) reversed year ago losses to post a profit for the second quarter on record revenue.

First quarter earnings climbed for China Jo-Jo Drugstores (Nasdaq: CJJD) as revenue soared.

OfficeMax (NYSE: OMX) announced on Friday the appointment of Mike MacDonald to the position of executive vice president and president of the global Contract organization and Steve Mongeau to the position of senior vice president of sales and growth initiatives effective today, August 15.

On the downside

Caribou Coffee (Nasdaq: CBOU) announced that major shareholder Caribou Holding will offer 5.15 million common shares to the public.

Baidu (NYSE: BIDU) closed its micro-blog site Shuoba.

Gilead (NYSE: GILD) reported positive results from a late stage clinical trial of its four-in-one HIV treatment dubbed Quad but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 15 points to 712.

Merger and acquisition activity lifted the markets to a higher open with the Dow surging 155 points to 11,425. Nasdaq soared 34 points to 2542.

On the upside

Google (Nasdaq: GOOG) will pay a premium of approximately $12.5 billion in cash to acquire Motorola Mobility (NYSE: MMI).

Shares of Nokia (NYSE: NOK) rose after news of Motorola's (NYSE: MMI) acquisition sparked speculation that Nokia will be a take-over target.

Zagg (Nasdaq: ZAGG) reported higher second quarter earnings that beat analyst expectations as revenue more than doubled.

On the downside

InterDigital (Nasdaq: IDCC) stock tumbled after Google's (Nasdaq: GOOG) acquisition of Motorola Mobility (NYSE: MMI) dampened rumors that InterDigital would be acquired by Google.

Estee Lauder (NYSE: EL) reported higher fourth quarter earnings as revenue rose but the beauty products company forecast 2012 results below analyst expectations.

Sysco (NYSE: SYY) reported flat fourth quarter earnings and forecast 2012 results that missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 13 points to 710.

Higher Close As Retail Sales Rise

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Investors welcomed news that retail sales rose in July by lifting the markets to a higher close with the Dow climbing 125 points to 11,269. Nasdaq gained 15 points to 2507.

On the upside

Newell Rubbermaid (NYSE: NWL) will repurchase up to $300 million worth of company stock.

Hovnanian Enterprises (NYSE: HOV) will begin sales tomorrow at its Millennia Park development in Orlando, Florida.

A Seeking Alpha article listed Keryx Biopharmaceuticals (Nasdaq: KERX) as one of five biotechnology stocks with much upside potential.

On the downside

UBS (NYSE: UBS) hired six former Morgan Stanley (NYSE: MS) financial advisors.

Jefferies analyst David Katz downgraded Orient-Express Hotels (NYSE: OES) to an Underperform rating.

The Fair Trade Commission of South Korea is investigating liquid crystal display companies Chimei Innolux, LG Display (NYSE: LPL) and Samsung for alleged price-fixing.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 697.

A strong 0.5% gain in July retail sales lifted the markets during the midday with the Dow soaring 167 points to 11,311. Nasdaq climbed 26 points to 2519.

On the upside

A Wall Street Journal article yesterday indicated that Sprint Nextel (NYSE: S) may provide Clearwire (Nasdaq: CLWR) with additional funding.

Goodyear (NYSE: GT) reassured investors that it has successfully offset increased raw material expenses by selling more profitable higher end tires.

Samsung Electronics will incorporate TranSwitch's (Nasdaq: TXCC) HDMI 1.4 Intellectual Property with patented Phaswitch technology into its next generation high-definition flat panel televisions.

On the downside

Avanir Pharmaceuticals (Nasdaq: AVNR) sued generic drugmakers Par Pharmaceutical (NYSE: PRX) and Actavis for violating the patent of its pseudobulbar affect treatment Nuedexta.

DeVry (NYSE: DV) reported higher fourth quarter earnings but enrollment fell prompting a downgrade.

Emulex (NYSE: ELX) widened fourth quarter losses and forecast first quarter earnings and revenue below analyst estimates.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 699.

The markets opened mixed with the Dow rising 46 points to 11,189 despite a gain in retail sales as consumer sentiment tumbled to the lowest level since May 1980. Nasdaq slipped 4 points to 2488.

On the upside

Nvidia (Nasdaq: NVDA) reversed year ago losses to post a profit for the second quarter as revenue rose and the graphics card maker forecast third quarter revenue ahead of estimates.

The Food and Drug Administration confirmed two design studies for MannKind's (Nasdaq: MNKD) inhaled insulin device Afrezza.

Molycorp (NYSE: MCP) swung to a better than expected profit for the second quarter as the rare earths mining company increased production.

On the downside

Dillard's (NYSE: DDS) reported higher second quarter earnings as revenue rose but margins remained flat.

Fourth quarter earnings plunged for Bally Technologies (NYSE: BYI) and the gaming equipment maker forecast 2012 results below expectations.

Sky-mobi (Nasdaq: MOBI) blamed slowing sales and increased competition for cutting its first quarter revenue guidance.

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 eased a fraction to 695.

Upbeat Jobs Data Sparks Rally

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Upbeat jobs data renewed faith in the economic recovery to spark a rally that sent the Dow rocketing 423 points to close at 11,143. Nasdaq surged 111 points to 2492.

On the upside

Bargain hunters snapped up shares of ReneSola (NYSE: SOL), whose shares tumbled after withdrawing its full year guidance on Tuesday.

Shares of Youku.com (NYSE: YOKU) recovered losses suffered after posting a second quarter loss on Monday.

Motley Fool wrote an article about Western Refining (NYSE: WNR) as part of its Rising Star series.

Bargain hunters lifted shares of Alliance HealthCare Services (NYSE: AIQ), whose stock price plummeted after reporting a second quarter loss on Monday.

On the downside

The Wall Street Journal reported that Sprint Nextel (NYSE: S) must pay down $2.3 billion in debt and make multi-billion dollar upgrades to its network.

OXiGENE (Nasdaq: OXGN) disappointed by swinging to a loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 35 points to 695.

Markets Rally As Jobless Claims Fall

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The markets extended its gains during the midday with the Dow leaping 345 points to 11,065 as initial applications for jobless claims unexpectedly fell. Nasdaq jumped 91 points to 2472.

On the upside

AOL (NYSE: AOL) will repurchase $250 million worth of company stock.

Second quarter earnings fell for Brinker International (NYSE: EAT) but the results beat expectations and the casual dining chain operator forecast 2012 results ahead of estimates.

QuinStreet (Nasdaq: QNST) reported higher fourth quarter revenue.

IntraLinks (NYSE: IL) will provide a Software-as-a-Service solution for law firm Mallesons Stephen Jacques.

On the downside

Briggs & Stratton (NYSE: BGG) disappointed with a loss for the fourth quarter as revenue fell.

Niska Gas Storage Partners (NYSE: NKA) reported higher first quarter earnings but revenue fell far short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 24 points to 684.

An unexpected drop in first time applications for unemployment benefits lifted the markets to a sharply higher open with the Dow surging 296 points to 11,016. Nasdaq leaped 77 points to 2458.

On the upside

Cisco (Nasdaq: CSCO) reported lower fourth quarter earnings but the results topped estimates and the company forecast current quarter revenue ahead of expectations prompting upgrades.

Fourth quarter earnings dropped for News Corp. (Nasdaq: NWSA) but the results beat analyst expectations and the company announced a possible expansion of its stock repurchase plan.

A123 (Nasdaq: AONE) will supply battery packs for all future General Motors (NYSE: GM) electric vehicles.

On the downside

SodaStream International (Nasdaq: SODA) reported higher second quarter earnings as revenue climbed and lifted its full year outlook but the stock price dropped over global economic concerns.

Open Text (Nasdaq: OTEX) reported higher fourth quarter earnings but the results fell short of expectations prompting a downgrade.

First quarter earnings rose for EnerSys (NYSE: ENS) but the results missed analyst estimates and the company forecast second quarter results well below expectations.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 19 points to 680.

All of yesterday's gains were erased as investors lost confidence in the global economy. A sharp sell-off sent the markets skidding to close sharply lower with the Dow crashing 519 points to 10,719. Nasdaq collapsed 101 points to 2381.

On the upside

Toreador Resources (Nasdaq: TRGL) will merge with privately held ZaZa Energy.

On the downside

Epocrates (Nasdaq: EPOC) reversed year ago losses to post a profit for the second quarter but the company forecast full year results below expectations.

FX Energy (Nasdaq: FXEN) swung to a second quarter profit as revenue climbed but the stock price dropped.

Second quarter earnings for China Information Technology (Nasdaq: CNIT) tumbled as revenue dropped.

Himax Technologies (Nasdaq: HIMX) disappointed with lower second quarter earnings as revenue fell.

KAR Auction Services (NYSE: KAR) swung to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 3 on the NYSE and by 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 35 points to 660.

The markets recovered early morning losses but continued trading sharply lower at midday with the Dow plummeting 204 points to 11,035 over European debt concerns. Nasdaq plunged 31 points to 2450.

On the upside

Demand Media (NYSE: DMD) widened second quarter losses but the results were better than expected.

Biolase Technology (Nasdaq: BLTI) narrowed second quarter losses as revenue more than doubled and the medical technology firm announced plans to repurchase up to 2 million shares of common stock.

Pegasystems (Nasdaq: PEGA) reversed year ago losses to post a profit for the second quarter.

On the downside

IntraLinks (NYSE: IL) swung to a profit for the second quarter but the company forecast third quarter results below expectations.

SatCon Technology (Nasdaq: SATC) widened second quarter losses more than expected.

Amtech Systems (Nasdaq: PRMW) reported higher third quarter earnings and revenue but orders dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 17 points to 679.

The markets opened sharply lower with the Dow giving back nearly all of yesterday's gains by skidding 325 points to 10,914 over growing concerns about the stability of French banks. Nasdaq plunged 66 points to 2415.

On the upside

Canaccord Genuity analyst Jonathan Dorsheimer lifted his price target on Cree (Nasdaq: CREE) to $39 from $37.

Argus Research upgraded Pfizer (NYSE: PFE) to a Buy rating while JPMorgan added the biopharmaceutical to its Analyst Focus List with a price target of $25.

Polo Ralph Lauren (NYSE: RL) reported higher first quarter earnings that beat analyst expectations and lifted its full year revenue guidance.

On the downside

Motricity (Nasdaq: MOTR) narrowed second quarter losses but the results fell short of expectations and the company forecast current quarter revenue well below estimates.

Disney (NYSE: DIS) reported higher third quarter earnings that topped analyst estimates but the earnings beat was the result of booking fees totaling $228 million from ESPN distributors in the third quarter instead of the fourth quarter.

Primo Water (Nasdaq: PRMW) narrowed second quarter losses but the results fell short of analyst expectations and the company forecast third quarter results below estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 23 points to 672.

The Federal Reserve pledged to maintain current low interest rates until at least mid-2013 sparking a rally to send the markets roaring back from yesterday steep sell-off with the Dow rocketing 429 points to 11,239. Nasdaq leaped 124 points to 2482.

On the upside

Boise (NYSE: BZ) announced that Indianapolis, Indiana will be the site of the company's first Project UP urban park re-development project.

Syntroleum (Nasdaq: SYNM) widened second quarter losses but the renewable and synthetic fuels company record production in July.

UTStarcom Holdings (Nasdaq: UTSI) reversed year ago losses to post a profit for the second quarter as revenue climbed.

On the downside

Sykes Enterprises (Nasdaq: SYKE) reported higher second quarter earnings but the results missed estimates.

Alliance HealthCare Services (NYSE: AIQ) disappointed with a loss for the second quarter.

EnerNOC (Nasdaq: ENOC) swung to a loss for the second quarter and lowered its 2011 and 2012 guidance prompting downgrades.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 45 points to 696.

Bargain Hunters Lift Stocks

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The markets recovered from yesterday's steep sell-off as bargain hunters sent the Dow soaring 138 points to 10,948. Nasdaq surged 62 points to 2420.

On the upside

Universal Display (Nasdaq: PANL) narrowed second quarter losses as revenue climbed.

Second quarter earnings climbed for Luminex (Nasdaq: LMNX) on higher revenue.

Star Scientific (Nasdaq: CIGX) narrowed second quarter losses and announced that its dietary supplement Anatobloc will launch at the end of the current quarter.

On the downside

AOL (NYSE: AOL) narrowed second quarter losses but revenue fell.

Youku.com (NYSE: YOKU) disappointed with a loss even as revenue more than doubled.

Cablevision (NYSE: CVC)  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 more than 6 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 24 points to 674.

Bargain hunters lifted the markets to a sharply higher open after yesterday's huge sell-off with the Dow leaping 213 points to 11,023. Nasdaq jumped 70 points to 2427.

On the upside

Radian Group (NYSE: RDN) reported a drop in delinquent loans and $1 billion in new insurance for July.

iStar Financial (NYSE: SFI) will repurchase up to $65 million worth of common shares.

Mako Surgical (Nasdaq: MAKO) widened second quarter losses but revenue surged.

On the downside

Stereotaxis (Nasdaq: STXS) widened second quarter losses as revenue dropped, withdrew its outlook for the year and announced the resignation of chief financial officer Dan Johnston.

Limelight Networks (Nasdaq: LLNW) blamed increased expenses for widening second quarter losses more than expected and forecast current quarter results below estimates.

Second quarter earnings slipped for Fossil (Nasdaq: FOSL) and the fashion accessories maker forecast third quarter as well as full year results below expectations.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 2 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 668.

The markets plummeted with the Dow crashing 634 points to 10,809 dropping below the 11,000 mark for the first time since November 2010 as investors reacted to a downgrade of the nation's credit rating by Standard & Poor's. Nasdaq collapsed 174 points to 2357.

On the upside

Hollysys Automation Technologies (Nasdaq: HOLI) will participate in J.P. Morgan's Greater China Factory Automation Corporate Access Days, CITI's HK/China Mini Conference 2011, 18th CLSA Investors' Forum and Daiwa Green Day 2011 investor events in September.

On the downside

MGIC Investment (NYSE: MTG) subsidiary Mortgage Guaranty Insurance reported an increase in delinquent loans for July.

Defcon announced that Oracle (Nasdaq: ORCL) employees gave away the most security data during a hacking contest over the weekend.

The Dividend Channel expects Charles Schwab (NYSE: SCHW) to pay a quarterly dividend of $0.06 per share on August 26, 2011 to shareholders of record August 12, 2011 but the stock price dropped.

E*Trade Financial (Nasdaq: ETFC) acquiesced to demands from its largest shareholder Citadel and retained the services of Goldman Sachs to explore strategic options.

TheStreet reiterated it's price target of $21.25 for Nvidia (Nasdaq: NVDA) but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 16 to 1 on the NYSE and by nearly 24 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks skidded 63 points to 650.

The markets extended its losses during the midday with the Dow crashing 385 points to 11,059 after Standard & Poor's downgraded the credit ratings of Fannie Mae and Freddie Mac. Nasdaq skidded 111 points to 2420.

On the upside

RPC (NYSE: RES) retained the services of Goldman Sachs to explore the possible sale of the oilfield services firm.

On the downside

DG FastChannel (Nasdaq: DGIT) reported higher second quarter earnings and revenue but the results fell short of expectations.

Manhattan Federal Judge Harold Baer allowed a settlement between Sirius XM Radio (Nasdaq: SIRI) and subscribers in a federal class action antitrust suit to stand.

The Food and Drug Administration accepted Teva Pharmaceutical's (Nasdaq: TEVA) new drug application for its seasonal allergy nasal spray beclomethasone dipropionate hydrofluoroalkane but the stock price dropped.

Approximately 45,000 Verizon Communications (NYSE: VZ) union employees went on strike for the second day after their labor contract expired at midnight on Saturday.

Wells Fargo (NYSE: WFC) agreed to pay $590 million to settle an investor lawsuit claiming that Wachovia, which was acquired by Wells Fargo, made misleading disclosures related to security sales.

In the broad market, declining issues outpaced advancers by a margin of more than 13 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 34 points to 680.

Markets Reel After S&P Downgrade

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The markets opened sharply lower in response to Standard & Poor's downgrade of the nation's credit rating on Friday after market close. The Dow collapsed 319 points to 11,124 while Nasdaq sank 97 points to 2433.

On the upside

Broadsoft (Nasdaq: BSFT) reversed year ago losses to post a better than expected profit for the second quarter as revenue surged prompting the company to lift its full year outlook.

On the downside

American International Group (NYSE: AIG) announced plans to sue Bank of America (NYSE: BAC) for more than $10 billion in losses stemming from mortgage debt fraud.

The National Highway Traffic Safety Administration launched a preliminary investigation into Ford's (NYSE: F) 2011-2012 manual transmission Mustangs for possible problems with shifting.

Citadel initiated coverage of Dendreon (Nasdaq: DNDN) with a Neutral rating.

The Bedford Report issued a research paper saying that the cost of increased production at SandRidge Energy (NYSE: SD) may negatively impact earnings as oil prices have tumbled.

Quicksilver (NYSE: KWK) reported higher second quarter earnings and revenue that topped estimates but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 11 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 696.

The markets closed mixed with the Dow climbing 60 points to 11,444 as a modest slip in the nation's unemployment rate tempered concerns of an extended global economic downturn. Nasdaq tumbled 23 points to 2532.

On the upside

Bargain hunters snapped up shares of Dendreon (Nasdaq: DNDN), whose stock price plunged yesterday on disappointing sales of its prostate cancer treatment Provenge.

European Central Bank's announcement that it will purchase Italian and Spanish bonds lifted shares of Banco Santander (NYSE: STD).

Shares of Web.com (NYSE: BPZ) continued climbing after posting better than expected second quarter results yesterday.

On the downside

Dresser-Rand (NYSE: DRC) reported sharply lower second quarter earnings as expenses climbed.

Magna International (NYSE: MGA) disappointed with lower second quarter earnings even as revenue rose.

Weight Watchers (NYSE: WTW) reported higher second quarter earnings that topped analyst estimates on higher revenue and the company lifted its full year outlook but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 714.

Investors welcomed an upbeat jobs report but remained concerned about the health of the nation's economy. The markets traded mixed during the midday with the Dow soaring 107 points to 11,491 while Nasdaq slipped 4 points to 2551.

On the upside

Second quarter earnings nearly tripled for Spreadtrum Communications (Nasdaq: SPRD) as revenue more than doubled.

Hansen Natural (Nasdaq: HANS) reported higher second quarter earnings that beat expectations as revenue rose.

BPZ Energy (NYSE: BPZ) reversed year ago losses to post a modest profit for the second quarter.

On the downside

CoreLogic (NYSE: CLGX) reported higher second quarter earnings but revenue fell to miss expectations.

Third quarter earnings and revenue for Dolby Laboratories (NYSE: DLB) slipped as prices for its 3-D equipment fell.

WMS Industries (NYSE: WMS) disappointed with sharply lower fourth quarter earnings that fell far short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 725.

The nation's unemployment rate dropped as employers added 117,000 jobs in July tempering investor concerns of a double dip recession. The markets opened mixed with the Dow adding 3 points to 11,386 while Nasdaq lost 18 points to 2538.

On the upside

Second quarter earnings for Priceline.com (Nasdaq: PCLN) more than doubled to surpass analyst expectations by a wide margin as revenue surged and the online travel service forecast current quarter results ahead of estimates.

Evercore Partners and MKM Partners said that Alcatel-Lucent's (NYSE: ALU) portfolio of patents may be worth up to $10 billion.

EOG Resources (NYSE: EOG) reported sharply higher second quarter earnings that surged five-fold to beat analyst expectations as revenue soared. The natural gas and crude oil company also announced a partnership with Nustar (NYSE: NS) to build a shale rail offloading facility in Louisiana.

On the downside

Brocade Communications (Nasdaq: BRCD) warned that third quarter earnings and revenue would fall short of its previous guidance.

Second quarter earnings for SandRidge Energy (NYSE: SD) more than doubled but the results missed estimates.

MIPS Technologies (Nasdaq: MIPS) disappointed with sharply lower fourth quarter earnings that fell short of expectations and announced the retirement of vice president and chief financial officer Maury Austin.

In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 721.

Fears of a worsening debt crisis in Europe sent the markets plummeting to close sharply lower with the Dow crashing 512 points to 11,383. Nasdaq collapsed 136 points to 2556.

On the upside

Insight Enterprises (Nasdaq: NSIT) reported higher second quarter earnings as revenue climbed.

Lihua International (Nasdaq: LIWA) responded to allegations of fraud made by Absaroka Capital Management and announced that an independent forensic accounting team reviewed and confirmed company cash balances.

On the downside

McDermott International (NYSE: MDR) disappointed with lower second quarter earnings that fell short of analyst expectations.

Aeropostale (NYSE: ARO) warned that second quarter revenue fell as same store sales tumbled more than expected and cut its earnings guidance.

Allied Irish Banks (NYSE: AIB) will delist from the New York Stock Exchange.

Valeant Pharmaceuticals International (NYSE: VRX) reported higher second quarter earnings but warned that sales of generic versions of its antidepressant Wellbutrin hurt revenue and will continue to negatively impact sales.

In the broad market, declining issues outpaced advancers by a margin of nearly 11 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 45 points to 726.

The markets extended its losses during the midday with the Dow sinking 275 points to 11,620 over growing concerns of an extended global economic downturn. Nasdaq plummeted 69 points to 2634.

On the upside

Air Transport Services Group (Nasdaq: ATSG) reported higher second quarter earnings.

Second quarter earnings surged for Randgold (Nasdaq: GOLD) as production nearly doubled.

Sourcefire (Nasdaq: FIRE) swung to a second quarter loss due to one-time charges but the results were better than expected.

On the downside

Clearwire (Nasdaq: CLWR) widened second quarter losses and the wireless broadband services provider announced that it will abandon some expansion projects.

Huntsman (NYSE: HUN) posted flat second quarter earnings that missed estimates as expenses climbed.

Leap Wireless (Nasdaq: LEAP) widened losses more than expected.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 21 points to 751.

Despite a drop in first time applications for unemployment benefits, the markets opened sharply lower with the Dow plummeting 169 points to 11,726 as yesterday's disappointing factory orders report renewed fears of a double dip recession. Nasdaq plunged 58 points to 2634.

On the upside

Emdeon (NYSE: EM) will be taken private by Blackstone Capital Partners in an all cash deal valued at approximately $3 billion.

Web.com Group (Nasdaq: WWWW) reported higher second quarter earnings that beat expectations and announced a $560 million cash and stock deal to acquire Network Solutions.

Second quarter earnings climbed for SolarWinds (NYSE: SWI) to surpass analyst expectations.

On the downside

Dendreon (Nasdaq: DNDN) narrowed second quarter losses but the biotechnology company withdrew its 2011 revenue outlook due to disappointing sales of its prostate cancer treatment Provenge prompting downgrades.

Entropic Communications (Nasdaq: ENTR) reported higher second quarter earnings but the results missed analyst expectations.

Walter Energy (NYSE: WLT) blamed higher expenses and bad weather for lower second quarter earnings that fell far short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 17 points to 754.

The markets recovered earlier losses to close higher with the Dow gaining 29 points to 11,896 as private employers added more jobs than expected in June. Nasdaq climbed 23 points to 2693.

On the upside

US Airways (NYSE: LCC) reported a 4.9% increase in July traffic and an 8% gain in passenger revenue per available seat mile.

Bargain hunters lifted shares of Eastman Kodak (NYSE: EK), whose stock price has fallen since adopting a shareholder rights plan on Monday.

Quanta Services (NYSE: PWR) reported lower second quarter earnings but the results beat analyst expectations and the company forecast full year results ahead of estimates.

On the downside

Second quarter earnings beat expectations for Owens Corning (NYSE: OC) but the company cut its earnings growth outlook for the year.

Mueller Water Products (NYSE: MWA) disappointed with a loss for the third quarter as revenue fell.

Kraton Performance Polymers (Nasdaq: KRA) reported higher second quarter earnings but the results fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 772.

The markets extended its losses during the midday with the Dow plunging 102 points to 11,764 as factory orders dropped in June. Nasdaq fell 13 points to 2655.

On the upside

SuccessFactors (Nasdaq: SFSF) widened second quarter losses but the results beat expectations as revenue climbed.

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

Allscripts Healthcare (Nasdaq: MDRX) reported higher second quarter earnings as revenue rose.

On the downside

Second quarter earnings plunged for R. R. Donnelley & Sons (Nasdaq: RRD) due to charges prompting a downgrade.

Wabash National (NYSE: WNC) reversed year ago losses to post a profit for the second quarter but the results missed estimates.

Second quarter earnings rose for Kforce (Nasdaq: KFRC) but the results fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 763.

Expansion of the nation's services unexpectedly fell last month to weigh the markets down to a lower open with the Dow dropping 89 points to 11,777. Nasdaq fell 15 points to 2653.

On the upside

MSMB Capital Management made an unsolicited $381 million offer to acquire Amag Pharmaceuticals (Nasdaq: AMAG).

Global Traffic (Nasdaq: GNET) agreed to be taken private for approximately $267 million in cash by GTCR.

Silicon Image (Nasdaq: SIMG) swung to a loss for the second quarter but the results were better than expected.

On the downside

CIBER (NYSE: CBR) narrowed second quarter losses but the results fell short of expectations and the company suspended its guidance for 2011.

Second quarter earnings rose for ION Geophysical (NYSE: IO) but the results missed analyst estimates.

ExamWorks Group (NYSE: EXAM) reported a loss for the second quarter.

In the broad market, declining issues outpaced advancers 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 tumbled 12 points to 754.

Although Congress approved the deficit reduction plan, concerns of a credit downgrade lingered to send the markets tumbling to a sharply lower close with the Dow collapsing 265 points to 11,866. Nasdaq plunged 75 points to 2669.

On the upside

Second quarter earnings slipped for Synchronoss Technologies (Nasdaq: SNCR) as expenses climbed but the results topped analyst estimates.

Skilled Healthcare (NYSE: SKH) ended its search for a potential buyer.

SM Energy (NYSE: SM) reported sharply higher second quarter earnings as revenue surged.

On the downside

General Cable (NYSE: BGC) reported higher second quarter earnings but the results missed analyst expectations.

Talbots (NYSE: TLB) adopted a shareholder rights plan after Sycamore Partners announced that it had acquired a 9.9% stake in the retailer and may seek to purchase the entire company.

Shares of Leap Wireless International (Nasdaq: LEAP) plunged after rival MetroPCS (NYSE: PCS) reported second quarter earnings and revenue that fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 767.

A mere 0.1% gain in June personal income renewed fears of a double dip recession sending the markets tumbling during the midday with the Dow plunging 112 points to 12,020. Nasdaq dropped 27 points to 2716.

On the upside

Foster Wheeler (Nasdaq: FWLT) reported higher second quarter earnings that surpassed analyst expectations by a wide margin.

Herbalife (NYSE: HLF) impressed with higher second quarter earnings that beat expectations and lifted its full year guidance.

The world's richest man and owner of America Movil Carlos Slim offered a premium to purchase shares of Telefonos de Mexico (NYSE: TMX) that it does not already own.

On the downside

AgFeed Industries (Nasdaq: FEED) announced a preliminary loss for the second quarter.

Meritor (NYSE: MTOR) reversed year ago losses to post a profit for the third quarter but the results fell short of analyst estimates.

Parker Hannifin (NYSE: PH) reported higher fourth quarter earnings as revenue rose but the results missed analyst expectations and the company forecast 2012 earnings that fell short.

In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 784.

The markets opened lower with the Dow falling 65 points to 12,066 as consumer spending dropped in June. Nasdaq slipped 5 points to 2738.

On the upside

Second quarter earnings surged for Sirius XM Radio (Nasdaq: SIRI) to surpass analyst expectations as subscribers increased.

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

Radian Group (NYSE: RDN) reversed year ago losses to post a profit for the second quarter.

On the downside

MetroPCS (NYSE: PCS) reported higher second quarter earnings but the results fell short of analyst expectations.

Brazilian bank Itau Unibanco (NYSE: ITUB) blamed higher expenses for second quarter earnings that missed estimates.

Second quarter earnings rose for Ferro (NYSE: FOE) but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 795.

The markets recovered from earlier losses but still closed lower with the Dow slipping 10 points to 12,132 as Congress prepared to vote on the debt deal. Nasdaq lost 11 points to 2744.

On the upside

Shares of C&J Energy (NYSE: CJES) continued to climb after making its market debut on Friday.

Bargain hunters snapped up shares of Advance America (NYSE: AEA), whose shares fell last week after reporting lower second quarter revenue.

Shares of Resource Capital (NYSE: RSO) rose ahead of its earnings release after market close.

On the downside

Shares of managed healthcare company Amerigroup (NYSE: AGP) dropped over concerns that Medicare, which cut skilled nursing facilities reimubursements, may cut payments for other services.

Shares of McClatchy Company (NYSE: MNI) continued falling after reporting lower second quarter earnings last week.

Shares of healthcare real estate investment trusts Health Care REIT (NYSE: HCN), Omega Healthcare (NYSE: MILL) and Sabra Healthcare REIT (Nasdaq: SBRA) all tumbled over concerns that the federal government may cut more Medicare reimbursements.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners edged out advancers by a margin of nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 792.

The markets extended its losses during the midday with the Dow dropping 94 points to 12,048 despite a Congressional compromise on a debt deal as investors focused on sharply lower growth in manufacturing activity. Nasdaq plunged 32 points to 2724.

On the upside

Sycamore Partners acquired a 9.9% stake in Talbots (NYSE: TLB) saying that the women's apparel retailer was undervalued.

Old National Bancorp (NYSE: ONB) reported sharply higher second quarter earnings that topped analyst estimates.

Infinera (Nasdaq: INFN) and pan-African telecommunications provider SEACOM successfully transmitted five 100 Gigabit per second coherent optical signals in Africa over a distance of 1732 kilometers.

On the downside

Sohu.com (Nasdaq: SOHU) reported higher second quarter earnings and revenue that beat analyst expectations and forecast third quarter revenue ahead of estimates but the stock price tumbled.

Shares of Kindred Healthcare (NYSE: KND) tumbled after the Centers for Medicare & Medicaid Services announced on Friday an 11.1% cut for skilled nursing facilities reimbursements in 2012.

Shares of Miller Petroleum (NYSE: MILL) continued falling after a Seeking Alpha article questioned company accounting practices last week.

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 tumbled 10 points to 786.

Congress brokered a deal to reduce the nation's deficit and raise the debt limit but the markets opened lower with the Dow falling 43 points to 12,100 as expansion of manufacturing activity dropped in July. Nasdaq lost 8 points to 2747.

On the upside

Communications and technology services provider Windstream will pay approximately $891 million in stock to acquire local exchange carrier Paetec Holding (Nasdaq: PAET).

Texas offered a $300,000 incentive for Office Depot (NYSE: ODP) to move its inside sales organization to Williamson County.

Shares of Sify Technologies (Nasdaq: SIFY) continued to rise after reporting lower first quarter losses on Friday.

On the downside

Morgan Keegan analyst Robert Mains downgraded Sun Healthcare (Nasdaq: SUNH) and Skilled Healthcare Group (NYSE: SKH) after the federal government announced on Friday an 11.1% cut in Medicare reimbursement rates to skilled nursing facilities.

Teva Pharmaceuticals (Nasdaq: TEVA) reported that its relapsing-remitting multiple sclerosis treatment Iaquinimod failed a Phase III clinical trial.

Shares of Alcatel-Lucent (NYSE: ALU) continued falling after reporting second quarter revenue that fell short of analyst expectations last week.

In the broad market, advancing issues outpaced advancers by a margin of more than 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 796.

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