September 2011 Archives

A drop in consumer income renewed fears of an extended economic downturn to send the markets tumbling to a sharply lower close with the Dow plummeting 240 points to 10,913.  Nasdaq sank 65 points to 2415.

On the upside

TheStreet listed Pandora Media (NYSE: P) as one of five stocks that are on the verge of of a breakout.

Medicare will cover the costs of Genomic Health's (Nasdaq: GHDX) Oncotype DX colon cancer test. 


On the downside


Shares of digital media advertising firm Focus Media (Nasdaq: FMCN) continued falling over concerns that the growth of China's economy will slow.  

Eastman Kodak (NYSE: EK) retained the services of bankruptcy law firm Jones Day.


Camelot Information Systems' (NYSE: CIS) chairman and chief executive Yiming Ma and director and president Heidi Chou were compelled to sell common stock in the company due to margin loans.

Corn inventories dropped less than expected to weigh down shares of fertilizer firm CF Industries (NYSE: CF). 


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 644.

Drop In Income Weighs Down Markets

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The markets traded lower during the midday with the Dow falling 50 points to 11,103 as consumer income slipped 0.3% in August.  Nasdaq dropped 16 points to 2464.

On the upside

Geron (Nasdaq: GERN) named John A. Scarlett to the position of chief executive.

Spreadtrum Communications (Nasdaq: SPRD) completed a research and development project after meeting the final significant milestone to secure an $8 million TD-SCDMA grant from China Mobile. 


Pharmasset (Nasdaq: VRUS) reported positive results for its hepatitis C treatment PSI-7977.

On the downside


The cost of Morgan Stanley's (NYSE: MS) credit default swaps climbed. 

Citigroup lowered its price target on Mosaic (NYSE: MOS) to $82.


Cemex (NYSE: CX) reassured investors that it would meet its debt obligations and would raise $1 billion through asset sales but the stock price fell. 


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 660.

Lower Open As Income Falls

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Income fell in August to weigh the markets down to a lower open with the Dow tumbling 95 points to 11,058.  Nasdaq dropped 26 points to 2454.

On the upside

Harbin Electric (Nasdaq: HRBN) announced a shareholder meeting on October 29, 2011 to vote on the proposed $24 per share acquisition offer from Tech Full Electric.

MicroStockProfit.com issued a research report on Popular (Nasdaq: BPOP). 


The Department of Justice approved Level 3 Communications' (Nasdaq: LVLT) acquisition of Global Crossing (Nasdaq: GLBC).

On the downside


Ingersoll Rand (NYSE: IR) blamed weak demand for lowering its earnings outlook for the third quarter and the full year.

Micron Technology (Nasdaq: MU) disappointed by swinging to a fourth quarter loss prompting a downgrade.


Concerns that China's economic growth will slow weighed down shares of Macau casino operators Las Vegas Sands (NYSE: LVS) and Wynn Resorts (Nasdaq: WYNN). 


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 656.

The markets closed mixed with the Dow surging 143 points to 11,153 as Germany backed plans to expand the European bailout fund.  Nasdaq fell 10 points to 2480 after news that the Department of Justice was investigating Chinese companies for accounting irregularities weighed down technology stocks.

On the upside

Eastman Kodak (NYSE: EK) shareholder Investment Partners Asset Management urged the company to sell itself.

The 2011 Cogent Research Retirement Planscape survey of defined contribution investment managers ranked ING (NYSE: ING) #1 in terms of loyalty, favorable impression and nine brand attributes. 


Forbes reiterated its price target of $9 for The New York Times Company (NYSE: NYT).

On the downside


Macquarie expect Youku.com's (NYSE: YOKU) revenue growth to slow and its gross margins to fall. 


Concerns that China's booming economy may be slowing weighed down shares of jewelry retailer Tiffany (NYSE: TIF).


The Department of Justice is investigating the accounting practices of Chinese companies listed on U.S. stock exchanges such as Focus Media Holding (Nasdaq: FMCN) and ReneSola (NYSE: SOL). 


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 climbed 10 points to 662.

Germany Expands Euro Fund, Markets Soar

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Investors embraced Germany's move to expand the European bailout fund by lifting the markets sharply higher during the midday with the Dow soaring 165 points to 11,176.  Nasdaq added 2 points to 2494.

On the upside

Umpqua Holdings (Nasdaq: UMPQ) increased its stock repurchase plan to buy back up to 15 million common shares.

Fourth quarter earnings slipped for Thor Industries (NYSE: THO) but the results topped analyst estimates. 


Two London hospitals used GE's (NYSE: GE) Jenbacher combined heat and power solutions to significantly reduce energy expenses and greenhouse gas emissions.

On the downside


Citigroup analyst Gary Taylor downgraded DaVita (NYSE: DVA) saying that the dialysis centers operator may have overcharged Medicare. 


The Centers for Medicare and Medicaid Services was analyzing Edward Lifesciences' (Nasdaq: EW) Sapien catheter-delivered heart valve.


New Oriental Education & Technology Group (NYSE: EDU) will announce first quarter results on October 18, 2011. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 10 points to 662.

The markets opened sharply higher with the Dow surging 212 points to 11,222 as first time applications for unemployment benefits dropped last week and the nation's economy expanded at an annual pace of 1.3% in the second quarter.  Nasdaq gained 16 points to 2507.

On the upside

National Mutual Insurance will pay a premium of approximately $1.63 billion to acquire Harleysville Group (Nasdaq: HGIC).

Banco Santander (NYSE: STD) expects profit at its Brazilian division to increase by 15% in 2012 and 2013. 


Germany agreed to expand the rescue fund for troubled nations lifting shares of UBS (NYSE: UBS).

On the downside


Advanced Micro Devices (NYSE: AMD) blamed manufacturing problems at a German factory for lowering its third quarter revenue and earnings guidance. 


BioDelivery Sciences International (Nasdaq: BDSI) reported disappointing results from a Phase 3 clinical trial of its chronic pain treatment BEMA Buprenorphine.


Netflix (Nasdaq: NFLX) fell after Amazon (Nasdaq: AMZN) introduced its Kindle Fire with Prime Instant Video streaming service yesterday available for the low price of $199. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 12 points to 664.

The European Union's support of a financial trading tax drew strong opposition from the United States. The Dow stumbled 179 points to close at 11,010 while Nasdaq plunged 55 points to 2491.

On the upside

Stifel Nicolaus initiated coverage of Liquidity Services (Nasdaq: LQDT) with a Buy rating.

Synnex (NYSE: SNX) reported higher third quarter earnings that surpasses analyst expectations and forecast fourth quarter results ahead of estimates. 


Although Saba Software (Nasdaq: SABA) widened first quarter losses, the results were better than expected.

On the downside


Glu Mobile (Nasdaq: GLUU) will present at the Craig-Hallum 2nd Annual Alpha Select Conference on Thursday, October 6, 2011. 


Fitch Ratings downgraded Eastman Kodak's (NYSE: EK) debt ratings.


Sony's announcement that it would no longer pay for disposable 3-D glasses in movie theaters weighed down shares of RealD (NYSE: RLD), which provides 3-D technology and glasses to movie theaters.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 28 points to 651.

Mixed Markets At Midday

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The Dow gained 37 points to 11,227 during the midday as crude oil prices retreated. But lingering concerns about the global economy weighed down Nasdaq 4 points to 2542.

On the upside

Shares of InterDigital (Nasdaq: IDCC) continued to recover after the company announced yesterday that it was exploring strategic alternatives to increase shareholder value.

Questcor Pharmaceuticals (Nasdaq: QCOR) said that prescriptions of its multiple sclerosis treatment H.P. Acthar Gel are expected to surge more than 160% in the third quarter. 


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

On the downside


Boise (NYSE: BZ) will repurchase $75 million worth of common shares. 


The Street listed Alpha Natural Resources (NYSE: ANR) as the second worst performing S&P 500 stock of the year.


Camelot Information Systems (NYSE: CIS) cut its third quarter and full year guidance prompting a downgrade.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 672.

Mixed Open As Durable Goods Orders Slip

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The markets opened mixed with the Dow rising 7 points to 11,198 while Nasdaq lost 7 points to 2538 as durable goods orders slipped in August.

On the upside

Jabil Circuit (NYSE: JBL) impressed with fourth quarter earnings that nearly doubled to beat analyst expectations and forecast first quarter results ahead of estimates.

Chesapeake Energy (NYSE: CHK) reported very strong production results from test wells in the Utica shale. 


Fourth quarter earnings rose for Accenture (NYSE: ACN) to top analyst expectations and the company forecast fiscal 2012 results above estimates.

On the downside


Analysts downgraded Imperial Holdings (NYSE: IFT) after federal agents raided the corporate office yesterday. 


Shares of InterOil (NYSE: IOC) continued falling after the Papua New Guinea government said that the company's liquefied natural gas project is not in compliance with approved plans.


Darden Restaurants (NYSE: DRI) blamed Hurricane Irene and higher expenses for lower first quarter earnings.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 672.

Investors hopeful that European leaders will soon finalize plans to support debt laden economies lifted the markets to a sharply higher close with the Dow soaring 146 points to 11,190. Nasdaq climbed 30 points to 2546.

On the upside

Quantum (NYSE: QTM) named Tom Valiente as vice president, North America Channel Sales.

Motley Fool listed Powerwave Technologies (Nasdaq: PWAV) as one of three stocks that is attractively priced with much upside potential. 


Zale (NYSE: ZLC) updated investors that its reorganization plan was working and that the company was on a path to profitability.

On the downside


KEYW Holding (Nasdaq: KEYW) lost a contract to a rival cybersecurity services company for systems integration services.


The bankruptcy of Solyndra continued to weigh down Suntech Power Holdings (NYSE: STP).


Xueda Education (NYSE: XUE) will repurchase $30 million worth of American depositary shares.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 14 points to 680.

The markets extended its gains during the midday with the Dow rocketing 256 points to 11,300 on expectations that bailout funds will soon be made available to ailing European economies. Nasdaq jumped 53 points to 2570.

On the upside

Stillwater Mining (NYSE: SWC) withdrew its senior notes offering citing unfavorable market conditions.

Flotek Industries (NYSE: FTK) reported sequentially higher revenue for August. 


Bargain hunters lifted shares of Ivanhoe Mines (NYSE: IVN), whose stock price fell yesterday after Mongolia said that it planned to renegotiate a development agreement of the Oyu Tolgoi project.

On the downside


The government of Papua New Guinea said that InterOil's (NYSE: IOC) publicized liquefied natural gas project is not in accordance with approved plans.


Shares of American Superconductor (Nasdaq: AMSC) continued falling after former employee Dejan Karabasevic was sentenced to jail for corporate espionage.


Calix (Nasdaq: CALX) blamed the sluggish economy for slashing its third quarter outlook.


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 leaped 24 points to 689.

The markets opened sharply higher with the Dow leaping 216 points to 11,260 on continued optimism that European leaders would expand financial assistance to troubled nations. Nasdaq soared 41 points to 2558.

On the upside

Rising gold and silver prices lifted shares of Freeport-McMoRan Copper & Gold (NYSE: FCX).

Cavium (Nasdaq: CAVM) introduced its Celestial CNC1800L multi-format, high definition Set Top Box System-on-a-Chip processor. 


Renren (NYSE: RENN) acquired Chinese online video sharing site 56.com.

On the downside


Accuride (NYSE: ACW) sold subsidiary Fabco Automotive and warned of losses for the year.


Biodel (Nasdaq: BIOD) reported that its insulin products BIOD-105 and BIOD-107 failed to meet the company's target product profile.


Coffee Holding (Nasdaq: JVA) announced a registered direct offering to institutional investors.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks surged 16 points to 682.

The markets surged to close sharply higher with the Dow jumping 272 points to 11,043 over optimism that European leaders will soon unveil financial packages to support debt laden nations. Nasdaq climbed 33 points to 2516.

On the upside

Shares of Barclays (NYSE: BCS) rose over expectations that European leaders will expand financial assistance to troubled economies.

Consol Energy (NYSE: CNX) sold its royalty interest in the Marcellus Shale to Antero Resources for approximately $193 million. 


Benchmark upgraded Entropic Communications (Nasdaq: ENTR) to a Buy rating.

On the downside


A DealReporter article said that bids for Interdigital's (Nasdaq: IDCC) portfolio of patents are below expectations.


Equity Markets issued a research report on Las Vegas Sands (NYSE: LVS) but the stock price fell.


Sprint (NYSE: S) announced that the premier sponsor of it 11th annual Open Solutions Conference, Samsung Telecommunications America, will give away the Nexus S 4G to the first 1,500 registered attendees.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 665.

Financial Sector Advances At Midday

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Confidence that European leaders will soon resolve their differences to stabilize troubled economies lifted the financial sector to send the Dow leaping 146 points to 10,917. Nasdaq lost 11 points to 2471.

On the upside

American Eagle Outfitters (NYSE: AEO) chairman Jay Schottenstein purchased 1 million shares of company stock.

Longbow Research upgraded Safeway (NYSE: SWY) to a Neutral rating after workers approved a new labor contract. 


Deutsche Bank (NYSE: DB) as investors regained confidence in European efforts to stabilize their financial markets.

On the downside


Shares of Molycorp (NYSE: MCP) continued falling after JPMorgan downgraded the rare earth metals firm last week.


The Mongolian government will renegotiate a development agreement with Ivanhoe Mines (NYSE: IVN) for the Oyu Tolgoi copper-gold project.


Standard & Poor's analyst Angelo Zino downgraded MEMC Electronic Materials (NYSE: WFR) on Friday to a Strong Sell rating and lowered his price target to $5.50.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 45 points to 648.

The markets opened mixed with the Dow gaining 50 points to 10,822 while Nasdaq fell 23 points to 2459. Wary investors continued to monitor developments in Europe.

On the upside

The Food and Drug Administration issued an approval letter to Mela Sciences (Nasdaq: MELA) for its MelaFind melanoma detection device.

Berkshire Hathaway will repurchase Class A (NYSE: BRK-A) and Class B (NYSE: BRK-B) stock. 


Odyssey Marine Exploration (Nasdaq: OMEX) found the wreckage of British cargo ship SS Gairsoppa which was carrying approximately 7 million ounces of silver.

On the downside


Eastman Kodak (NYSE: EK) will borrow $160 million from its revolving credit line.


Activist investor Carl Icahn withdrew his bid to replace Clorox's (NYSE: CLX) board of directors.


JPMorgan Chase reported that Apple (Nasdaq: AAPL) lowered its iPad orders for the fourth quarter by 25%.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 648.

The markets closed modestly higher with the Dow gaining 37 points to 10,771 as the Group of 20 affirmed their support of efforts to stabilize the precarious global economy. Nasdaq climbed 27 points to 2483.

On the upside

Aruba Networks (Nasdaq: ARUN) director Douglas M. Leone purchased $7.1 million worth of company stock.

Susquehanna International Group analyst Ming Zhao upgraded Youku.com (NYSE: YOKU) to a Positive rating. 


MannKind (Nasdaq: MNKD) will sell approximately $370 million in senior secured discount notes.

On the downside


EnteroMedics (Nasdaq: ETRM) priced its offering of 8.8 million common shares and warrants to purchase 1.76 million common shares at $1.65 per unit.


Christopher & Banks (NYSE: CBK) warned of wider than expected losses for the second quarter after reporting a sharp 8% drop in same store sales.


Analysts question whether Meg Whitman will be able to turn around Hewlett-Packard (NYSE: HPQ).


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 652.

The markets traded mixed during the midday with the Dow slipping 20 points to 10,713 while Nasdaq gained 15 points to 2471 as investors continued to monitor the precarious financial situation in Europe.

On the upside

American Superconductor (Nasdaq: AMSC) reported a wider than expected loss for the first quarter but the company announced that it signed $100 million in new contracts since April 1, 2011.

The Finish Line (Nasdaq: FINL) reported higher second quarter earnings that topped analyst estimates as revenue rose. 


Direct Energy will pay $270 million in cash to acquire PNM Resources' (NYSE: PNM) First Choice Power unit in Texas.

On the downside


The Superior Court of Pennsylvania said that ownership of oil and gas resources beneath the surface of land is not clear in current laws sending shares of Range Resources (NYSE: RRC), which has leased 1.2 million acres of land in Pennsylvania, tumbling.


Tidewater (NYSE: TDW) blamed vessel delays for warning that second quarter revenue will fall short of expectations.


Falling silver prices weighed down shares of Endeavour Silver (NYSE: EXK).


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 649.

Lower Open Over Greek Default Concerns

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Fears of a Greek default weighed the markets down to a lower open with the Dow losing 45 points to 10,688. Nasdaq rose 8 points to 2464.

On the upside

Turnstall Healthcare Group will pay a premium of approximately $82.3 million in cash to acquire remote health monitoring services firm American Medical Alert (Nasdaq: AMAC).

Bargain hunters lifted shares of SIGA Technologies  (Nasdaq: SIGA), whose stock price plunged yesterday after a Delaware judge ordered the company to share 50% of its profits from a smallpox drug with PharmAthene.


Nike (NYSE: NKE) reported higher first quarter earnings and revenue that beat analyst expectations.

On the downside


Cavium (Nasdaq: CAVM) blamed a drop in demand for lowering its third quarter revenue guidance.


First Solar (NYSE: FSLR) cannot meet the requirements for a $1.9 billion federal loan guarantee that was to fund its Topaz Solar Farm project.


Mosaic (NYSE: MOS) reported preliminary first quarter earnings that fell short of analyst expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 647.

The markets crashed with the Dow collapsing 391 points to 10,733 as fears of an extended global economic slump weighed on investors. Nasdaq plummeted 82 points to 2455.

On the upside

Clearwire (Nasdaq: CLWR) engaged in discussions with wireless services providers  such as AT&T (NYSE: ATT) to sell capacity on its wireless network to the service providers.

A Seeking Alpha contributor listed Travelzoo (Nasdaq: TZOO) as one of four undervalued technology stocks with attractive valuations.

On the downside


SIGA Technologies  (NYSE: SIGA) must pay PharmAthene half of its profit from the smallpox  treatment ST-246. 


Trefis anticipates strong sales of Nvidia's (Nasdaq: NVDA) new Kal-El Tegra processor and said that the stock price may climb to $20 but the stock price fell.


Ford (NYSE: F) began wage and benefit negotiations  with the United Auto Workers union.


Sharply lower gold and silver prices weighed down shares of Freeport-McMorRan (NYSE: FCX).


In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 21 points to 643.

The markets extended its losses during the midday with the Dow crashing 485 points to 10,639 over investors fears of an extended global economic slump. Nasdaq sank 108 points to 2429.

On the upside

Vical (NYSE: VICL) reported upbeat results for its melanoma treatment Allovectin immunotherapy when used in combination with an anti-CTLA-4 antibody.

Odyssey Marine Exploration (Nasdaq: OMEX) will hold a conference call on Monday September 26 to provide an operational update and to discuss current developments.

On the downside


Second quarter earnings for Steelcase (NYSE: SCS) rose but the results fell short of analyst estimates and the office furniture maker forecast third quarter results below expectations. 


Apple (Nasdaq: AAPL) is opening stores in China at a much slower pace than the company forecast.


Oracle (Nasdaq: ORCL) acquired GoAhead Software for an undisclosed sum.


Manufacturing activity slowed in China to weigh down Chinese search engine Baidu (Nasdaq: BIDU).


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 643.

Despite plans by the Federal Reserve to purchase $400 billion worth of long-term Treasuries, the markets closed sharply lower with the Dow plummeting 282 points to 11,124 after Moody's downgraded the debt ratings of Bank of America, Citigroup and Wells Fargo. Nasdaq plunged 52 points to 2538.

On the upside

The Delaware Supreme Court affirmed  an appeal by Liberty Media (Nasdaq: LINTA) to split its business into two separate entities.

Analysts named JA Solar Holdings (Nasdaq: JASO) as one of three solar stocks with much upside potential.

The Veterans Department will no longer use Roche's Avastin to treat wet age-related macular degeneration. Renegeron Pharmaceuticals'  (Nasdaq: REGN) Eylea macular degeneration treatment is awaiting FDA approval.


On the downside


Odyssey Marine Exploration (Nasdaq: OMEX) will request a hearing before full Eleventh Circuit Court of Appeals judges to protest a decision made by a panel of three judges. 


Production cuts by Alpha Natural Resources (NYSE: ANR) and Walter Energy (NYSE: WLT) weighed down shares of Cliffs Natural Resources (NYSE: CLF) and Patriot Coal (NYSE: PCX).


Moody's Investors Service downgraded the debt ratings for Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC).


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 664.

The markets traded mixed during the midday with the Dow falling 49 points to 11,358 after Moody's downgraded the debt rating of Bank of America. Nasdaq gained 7 points to 2597.

On the upside

The Paragon Report issued an equity research report on Human Genome Sciences (Nasdaq: HGSI), whose lupus treatment Benlysta was approved for marketing in the US, Europe and Canada.

Hewlett-Packard's (NYSE: HPQ) board of directors will discuss the possibility of replacing chief executive Leo Apotheker with board member and former eBay chief executive Meg Whitman.

Speculation that  Range Resources (NYSE: RRC) may be acquired lifted shares of the natural gas company.


On the downside


NuVasive (Nasdaq: NUVA) must pay $101.2 million to Medtronic (NYSE: MDT) for patent infringement. 


Alpha Natural Resources (NYSE: ANR) cut its 2011 coal production outlook due to lower demand.


comScore reported that AOL (NYSE: AOL) was fifth on its list of most visited websites in August behind leaders Google (Nasdaq: GOOG), Yahoo (Nasdaq: YHOO), Microsoft (Nasdaq: MSFT) and Facebook.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 686.

Sales of previously occupied homes climbed in August as foreclosures rose. It was a mixed open for the markets with the Dow losing 23 points to 11,384 while Nasdaq added 3 points to 2594.

On the upside

Orexigen Therapeutics (Nasdaq: OREX) will begin a two year clinical trial to study the safety of its obesity treatment Contrave next year.

Oracle (Nasdaq: ORCL) reported higher first quarter earnings and revenue that topped analyst expectations and forecast current quarter earnings ahead of estimates.

Bargain hunters lifted shares of Molycorp (NYSE: MCP) whose stock price dropped yesterday after a downgrade.


On the downside


Shares of railroad transportation services firm CSX (NYSE: CSX), dropped after a Senate subcommittee approved a budget that eliminated funding for the high speed rail program. 


Freeport McMoRan (NYSE: FCX) blamed a week long strike at its Indonesian mine for hurting copper and gold production.


Walter Energy (NYSE: WLT) warned that a plant shutdown will hurt sales and output.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE while advancers edged out decliners by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 690.

The markets closed mixed with the Dow rising 7 points to 11,408 as investors awaited the announcement of policy decisions tomorrow by the Federal Reserve. Nasdaq fell 22 points to 2590.

On the upside

Transcept Pharmaceuticals (Nasdaq: TSPT) will present at the JMP Securities Healthcare Conference on September 28, 2011.

A Seeking Alpha contributor listed The Interpublic Group of Companies (NYSE: IPG) as one of seven S&P 500 companies under $10 with significant upside potential.

Newmont Mining (NYSE: NEM) chief executive Richard O'Brien said yesterday that gold prices will continue to climb over the next five to seven years.


On the downside


Shares of Suntech Power (NYSE: STP), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) all fell over growing concerns that the challenging global economic environment will further dampen demand for solar power. 


Newcastle Investment (NYSE: NCT) will offer 22.5 million common shares through a public offering.


A Seeking Alpha contributor recommended selling Renren (NYSE: RENN) saying that the company was not profitable.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 689.

Greece Commits To Cuts, Markets Soar

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Greece committed to cutting more government jobs to reign in spending sending the markets soaring during the midday with the Dow surging 128 points to 11,529. Nasdaq climbed 22 points to 2635.

On the upside

Direct-to-consumer subscription products marketer Atrinsic (Nasdaq: ATRN) announced that Kazaa's streaming music application is now available through Apple's (Nasdaq: AAPL) App Store.

Magnum Hunter (NYSE: MHR) provided operations and production updates for its Eagle Ford Shale resource in Southern Texas.

Carnival (NYSE: CCL) reported higher third quarter earnings that topped analyst estimates as revenue climbed.


On the downside


Investors continued to unload shares of Netflix (Nasdaq: NFLX) in protest to their rate increases. 


Sina (Nasdaq: SINA) announced new self-censorship measures to prevent false rumors from quickly spreading through the company's microblogging site Weibo.


HealthSouth (NYSE: HLS) will host a conference call tomorrow, September 21, to discuss the potential impact of President Obama's inpatient rehabilitation-related proposals for his Plan for Economic Growth and Deficit Reduction.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 705.

The markets opened higher with the Dow rising 10 points to 11,411 as Greece continues discussions with lenders to secure bailout funds. Nasdaq added 6 points to 2619.

On the upside

Morgan Stanley cited MGM Resorts' (NYSE: MGM) falling stock price for upgrading the casino operator to an Overweight rating.

UBS upgraded PulteGroup (NYSE: PHM) to a Buy rating saying that the company's valuation made it an attractive investment.

Brean Murray upgraded Rex Energy (NYSE: REXX) to a Buy rating saying that the five day flow rates at the Marcellus Shale well are far above rates of nearby wells.


On the downside


JPMorgan Chase cited falling rare earth prices for downgrading Molycorp (NYSE: MCP) to a Neutral rating. 


Home Properties (NYSE: HME) priced its offering of 6 million common shares at the discounted price of $58.50 per share.


Western Gas Partners (NYSE: WES) priced its offering of 5 million common units at the discounted price of $35.86 per unit.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 700.

The markets recovered earlier loses but still closed sharply lower with the Dow sinking 108 points to 11,401 as Greece's finance minister continues negotiations with creditors tomorrow. Nasdaq lost 9 points to 2612.

On the upside

MedQuist Holdings (Nasdaq: MEDH) raised its performance goals for the 2011 and announced a $25 million stock repurchase plan.

Starbucks (Nasdaq: SBUX) will focus expansion plans in Latin America.

Tyco International (NYSE: TYC) announced that it will separate into three publicly traded companies.


On the downside


Shares of CNinsure (Nasdaq: CISG) continued falling after an investment group led by chief executive Yinan Hu withdrew its offer to take the company private. 


Concerns that Greece may default on its debt weighed down Morgan Stanley (NYSE: MS), Citigroup (NYSE: C) and Bank of America (NYSE: BAC).


Yahoo (Nasdaq: YHOO) officer David Filo sold nearly $2.5 million worth of stock.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 702.

Investors feared that Greece would not receive financial assistance in time to avoid a default. The markets dropped during the midday with the Dow plunging 209 points to 11,299. Nasdaq tumbled 27 points to 2594.

On the upside

Wright Medical Group (Nasdaq: WMGI) named Robert J. Palmisano to the position of president and chief executive.

MAKO Surgical (Nasdaq: MAKO) introduced its RIO Robotic Arm Interactive Orthopedic System for use in total hip replacement procedures.

IDC reported that Apple's (Nasdaq: AAPL) iPad increased its global market share in the second quarter to more than 68% from a first quarter market share of 66%.


On the downside


Momenta Pharmaceuticals (Nasdaq: MNTA) stock tumbled after the Food and Drug Administration approved a rival generic version of the blood thinner Lovenox. 


Concerns that Greece may default on its debt obligation weighed down shares of Barclays (NYSE: BCS) and Credit Suisse Group (NYSE: CS).


LDK Solar (NYSE: LDK) sold approximately 4.37 million common shares through a private placement to raise approximately $25.8 million.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 698.

Greek Bailout Concerns Sink Stocks

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Renewed concerns about a bailout package for Greece sent the markets tumbling to a sharply lower open with the Dow plummeting 233 points to 11,275. Nasdaq plunged 48 points to 2573.

On the upside

Shares of Goodrich (NYSE: GR) continued rising on speculation that United Technologies (NYSE: UTX) may be interested in acquiring the aerospace firm.

 Prana Biotechnology (Nasdaq: PRAN) reported improved cognition in Alzheimer's patients in a Phase IIa clinical trial of its PBT2 treatment.

Netflix (Nasdaq: NFLX) will separate its DVD rental service into a wholly owned subsidiary named Qwikster.


On the downside


Advanced Analogic Technologies (Nasdaq: AATI) denied accusations that it breached their merger agreement with Skyworks Solutions (Nasdaq: SWKS) but the stock price fell. 


JinkoSolar Holdings (NYSE: JKS) apologized for releasing toxic waste into a river near a solar manufacturing facility in Zhejiang Province, China.


Yingli Green Energy (NYSE: YGE) appointed Richard Xue to replace Chi Ping Martin Lau as an independent director and a member of the audit and compensation committees.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 696.

European leaders discussed solutions to the debt crisis lifting the markets to a higher close with the Dow gaining 75 points to 11,509. Nasdaq rose 15 points to 2622.

On the upside

Dynavax Technologies (Nasdaq: DVAX) will present results from a Phase 3 clinical trial of its hepatitis B vaccine HEPLISAV at the 51st Interscience Conference on Antimicrobial Agents and Chemotherapy on September 18.

Fairholme Capital Management will acquire a 50% stake in St. Joe Company (NYSE: JOE).

Wedbush analyst Gil Luria upgraded eBay (Nasdaq: EBAY) to an Outperform rating.


On the downside


Deutsche Bank initiated coverage of JinkoSolar Holding (NYSE: JKS) and Trina Solar (NYSE: TSL) with Hold ratings. 


AAR (NYSE: AIR) reported higher first quarter earnings but the results fell short of analyst expectations.


Wunderlich Securities downgraded American Superconductor (Nasdaq: AMSC) to a Hold rating and slashed the price target to $6 from $12.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 714.

The markets advanced during the midday with the Dow climbing 79 points to 11,513 over optimism that a viable solution to the European debt crisis may soon be unveiled. Nasdaq gained 11 points to 2618.

On the upside

Diamond Foods (Nasdaq: DMND) reported higher fourth quarter earnings that beat analyst expectations.

Shares of Textron (NYSE: TXT) and Rockwell Collings (NYSE: COL) rose over speculation that United Technologies (NYSE: UTX) may be securing financing to acquire one of the companies.

The New York Post reported that Apollo Management may offer as much as $24 per share to buy 99 Cents Only Stores (NYSE: NDN).


On the downside


Piper Jaffray analyst Mike Olson lowered his full year revenue and earnings outlook for Netflix (Nasdaq: NFLX) and cut his price target for the second day in a row down to $300 per share. 


Motley Fool warned that Manitowoc (NYSE: MTW) reported that approximately 50% of total assets were comprised of goodwill and other intangibles.


Deutsche Bank initiated coverage of Suntech Power (Nasdaq: STP)  and Yingli Green Energy (NYSE: YGE) with Hold ratings.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 711.

The markets opened higher with the Dow rising 12 points to 11,445 as debt discussions commenced in Europe. Nasdaq held steady at 2607.

On the upside

RPX (NYSE: RPXC) priced its follow-on offering of 3 million common shares at the discounted price of $20.49 per share.

Molycorp (NYSE: MCP) announced that expansion and modernization plans are fully funded and discussions to secure financing with Sumitomo have ended.

Shares of Arena Pharmaceuticals (Nasdaq: ARNA), maker of the diet drug Lorcaserin, rose after Vivus announced that it was resubmitting a new application for Qnexa.


On the downside


Research In Motion (Nasdaq: RIMM) disappointed with sharply lower second quarter earnings that fell short of expectations on weak smartphone and tablet sales. 


Patriot Coal (NYSE: PCX) warned that third quarter production will fall while the average cost per ton of coal will rise.


Zogenix (Nasdaq: ZGNX) priced its public offering of 30 million common shares at the discounted price of $2.00 per share.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 713.

A plan by global central banks to loan American dollars to struggling European banks lifted the markets to a sharply higher close with the Dow surging 186 points to 11,433. Nasdaq jumped 34 points to 2607.

On the upside

Silvercorp Metals (NYSE: SVM) has repurchased nearly 4 million shares of common stock.

Magnum Hunter (NYSE: MHR) chairman and chief executive Gary C. Evans presented yesterday afternoon at the Rodman & Renshaw's Annual Global Investment Conference.

News that global central banks will  loan American dollars to European banks lifted shares of Deutsche Bank (NYSE: DB) and ING Group (NYSE: ING).


On the downside


Aixtron (Nasdaq: AIXG) blamed market weakness for slashing its revenue guidance for the year. 


Robbins Umeda filed a class action lawsuit against Sequans Communications (NYSE: SQNS) for issuing false and misleading statements about the financial health of the company.


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


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 713.

The markets extended its gains during the midday with the Dow soaring 132 points to 11,379 on news that global central banks will infuse cash into struggling European banks. Nasdaq rose 11 points to 2584.

On the upside

Morgan Stanley (NYSE: MS) announced that chairman John Mack will retire at the end of 2011.

Boise (NYSE: BZ) will repurchase an additional $75 million worth of common stock.

Newcastle Investment (NYSE: NCT) increased its quarterly dividend from 10 cents to 15 cents per share payable on October 10 to shareholders of record October 3.


On the downside


Perfect World (Nasdaq: PWRD) cut its revenue outlook for the third quarter as the company reduces in-game promotional activities. 


American Semiconductor (Nasdaq: AMSC) sued Sinovel for engaging and paying an employee to steal intellectual property from American Semiconductor.


KIT digital (Nasdaq: KITD) priced its public offering of 3.2 million common shares at $9.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 709.

The markets opened higher with the Dow climbing 82 points to 11,329 after the European Central Bank announced plans to provide additional dollar loans to banks. Nasdaq rose 11 points to 2584.

On the upside

Transcept Pharmaceuticals (Nasdaq: TSPT) will resubmit its New Drug Application for the insomnia treatment Intermezzo after the Food and Drug Administration agreed to dosage changes for women and new safety instructions.

Vivus (Nasdaq: VVUS) announced that the Food and Drug Administration will accept an early resubmission of its New Drug Application for the obesity drug Qnexa.

HCA (NYSE: HCA) will repurchase more than 80 million shares of common stock owned by Bank of America (NYSE: BAC).


On the downside


Netflix (Nasdaq: NFLX) cited price increases for lowering its third quarter subscriber outlook. 


A UBS (NYSE: UBS) employee engaged in unauthorized trading accumulated $2 billion in losses.


CNinsure (Nasdaq: CISG) announced that an investment group led by chairman and chief executive Yinan Hu withdrew its offer to take the company private.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 711.

Greece To Survive, Markets Soar

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The markets recovered early morning losses to close sharply higher with the Dow surging 140 points to 11,246 as France and Germany reassured world markets that the financial survival of Greece was of utmost importance. Nasdaq soared 40 points to 2572.

On the upside

China's Ministry of Industry and Information Technology approved Sequans Communications' (NYSE: SQNS) LTE semiconductor technology clearing the way for large scale trials of the technology in China.

STMicroelectronics (NYSE: STM) introduced its iNEMO Engine Sensor Fusion Suite solution for enhanced motion and accurate heading recognition. The company also announced that its Near Field Communication solution will support the Windows 8 operating system

Oxigene (Nasdaq: OXGN) reported increased survival time for anaplastic thyroid cancer patients treated with its Zybrestat along with chemotherapy.


On the downside


Molina Healthcare (NYSE: MOH) entered a $170 million revolving credit facility. 


Origin Agritech (Nasdaq: SEED) disappointed with sharply lower third quarter earnings that fell far short of analyst expectations prompting the biotechnology company to cut its full year outlook. The company also announced the resignation of chief execute Liang Yuan.


Barclays Capital analyst Jeff Kvaal lifted his second quarter earnings and revenue estimate for Research in Motion (Nasdaq: RIMM) but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 704.

Markets Trade Higher At Midday

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The markets reversed course to trade higher during the midday with the Dow climbing 78 points to 11,184 over news that France and Germany will discuss financial options with Greece later this week. Nasdaq added 3 points to 2535.

On the upside

Shares of Coldwater Creek (Nasdaq: CWTR) continued climbing after chairman and chief executive Dennis Ponce acquired approximately 686 million shares of company stock last week.

Silvercorp Metals (NYSE: SVM) produced Tax Certificates issued by the Chinese government to refute allegations of fraud by an anonymous source.

Delta (NYSE: DAL) said that it will not be purchasing any more planes for the next few years.


On the downside


Jefferies downgraded Suntech Power Holdings (NYSE: STP) to an Underperform rating and cut its price target from $5.50 to $3.


Majesco Entertainment (Nasdaq: COOL) reversed year ago losses to post a profit for the third quarter but its full year revenue guidance fell short of expectations.


Jefferies downgraded El Paso Electric (NYSE: EE) after the El Paso City Council voted to review the company's rates.


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 added 3 points to 695.

The markets opened lower with the Dow falling 57 points to 11,048 after Moody's downgraded the credit ratings of French banks Societe Generale and Credit Agricole. Nasdaq added 3 points to 2535.

On the upside

Oaktree Capital Management offered approximately $670 million to acquire Jakks Pacific (Nasdaq: JAKK).

Hertz (NYSE: HTZ) became the sole suitor for Dollar Thrifty (NYSE: DTG) after Avis Budget (Nasdaq: CAR) abandoned its bid for Dollar Thrifty.

The Wall Street Journal reported that federal investigators will blame the Deepwater Horizon explosion that killed 11 people on not only BP (NYSE: BP), but its contractors as well.


On the downside


Jefferies downgraded JA Solar Holdings (Nasdaq: JASO) to an Underperform rating citing solar subsidy cuts in Italy and Germany.


Shares of Halliburton (NYSE: HAL) fell after The Wall Street Journal reported that BP (NYSE: BP) contractors may share the blame for the Deepwater Horizon explosion.


ConAgra (NYSE: CAG) will drop its $5.2 billion acquisition offer for Ralcorp (NYSE: RAH) if Ralcorp refuses to engage in merger discussions.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 686.

The markets closed higher with the Dow rising 44 points to 11,105 as investors monitored global economic developments. Nasdaq climbed 37 points to 2532.

On the upside

TheStreet listed Universal Display (Nasdaq: PANL) as the best performing stock from July 22 through September 2.

Office Depot (NYSE: ODP) will consolidate two distribution centers in Illinois by relocating operations from Lansing to Carol Stream and eliminating 100 jobs.

Shares of Genco Shipping & Trading (NYSE: GNK) climbed after a Seeking Alpha article said that shipping revenue is expected to increase.


On the downside


Investors locked in profits on Eastman Kodak (NYSE: EK) whose shares climbed yesterday after one of the company's printers achieved the highest rating for photographic print quality.


Ivanhoe Energy (Nasdaq: IVAN) will begin drill testing at a second exploration well in Mongolia's Nyalga Basin but the stock price fell.


Morgan Stanley downgraded SolarWinds (NYSE: SWI) to an Underweight rating.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 11 points to 691.

Markets Advance At Midday

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The markets advanced during the midday with the Dow gaining 68 points to 11,129 despite uncertainty about the global economy. Nasdaq soared 38 points to 2533.

On the upside

US Airways (NYSE: LCC) announced that September unit revenue was expected to increase by 13%.

Delta Air Lines (NYSE: DAL) will reduce seating capacity next year by 2% to 3% from current levels.

United Continental (NYSE: UAL) will add 25 new planes to its fleet next year.


On the downside


Ancestry.com (Nasdaq: ACOM) hired Duncan/Channon to develop a new comprehensive advertising campaign for the online family history resource but the stock price fell.


Shares of Silvercorp Metals (NYSE: SVM) continued falling after the British Columbia Securities Commission announced on Friday an investigation into Silvercorp for alleged fraud.


Coffee Holding (Nasdaq: JVA) disappointed with lower third quarter earnings .


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 691.

The markets opened higher with the Dow adding 7 points to 11,069 as German Chancellor Angela Merkel rejected a Greek default. Nasdaq climbed 18 points to 2513.

On the upside

Diesel and natural gas engine maker Cummins (NYSE: CMI) told investors that 2011 profit will rise to record levels.

Intersil (Nasdaq: ISIL) trimmed its third quarter revenue guidance but the chipmaker said that inventory levels are beginning to stabilize and bookings may recover over the next couple of weeks.

Standard & Poor's Ratings Services upgraded Huntsman's (NYSE: HUN) credit rating citing strong demand and increased prices.


On the downside


InterMune (Nasdaq: ITMN) will offer 4 million shares of common stock and $100 million worth of convertible senior notes.


Best Buy (NYSE: BBY) disappointed with lower second quarter earnings that fell short of analyst expectations.


QlikTech (Nasdaq: QLIK) expanded its partnership with Deloitte & Touche to offer their QlikView Business Discovery platform to clients but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 687.

Higher Close Despite Default Fears

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The markets recovered losses in late afternoon trading to close higher with the Dow climbing 68 points to 11,061 despite fears that Greece may be on the verge of a default. Nasdaq gained 27 points to 2495.

On the upside

Coldwater Creek (Nasdaq: CWTR) chief executive Dennis Pence purchased approximately 686 million shares of company stock last week.

Kodak's (NYSE: EK) NEXPRESS SX3300 Digital Production Color Press received the highest rating for photographic print quality in a study conducted by SpencerLab Digital Color Laboratory.

Benchmark analyst Gary Mobley suggested that EZchip Semiconducor (NYSE: EZCH) may be an acquisition target in the wake of Broadcom's (Nasdaq: BRCM) purchase of NetLogic (Nasdaq: NETL).


On the downside


CTC Media (Nasdaq: CTCM) lowered its full year revenue growth guidance.


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


Level 3 Communications (Nasdaq: LVLT) will present at the Bank of America Merrill Lynch 2011 Media, Communications & Entertainment Conference on September 15 and at the Goldman Sachs 20th Annual Communacopia Conference on September 22 but the stock price slipped.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 679.

The markets extended its losses during the midday with the Dow plunging 112 points to 10,879 after economists from the National Association for Business Economics cut their growth forecast for the nation's economy down to 1.7% from 2.8%. Nasdaq fell 8 points to 2459.

On the upside

M & F Worldwide (NYSE: MFW) will merge with a subsidiary of MacAndrews & Forbes Holdings.

Susquehanna Financial Group analyst Christopher Caso upgraded Marvell Technology (Nasdaq: MRVL) to a Positive rating.

Bank of America (NYSE: BAC) will eliminate approximately 30,000 jobs through attrition and leaving unfilled positions open in order to save approximately $5 billion each year.


On the downside


Colfax (NYSE: CFX) will acquire Charter International in a cash and stock deal valued at approximately $2.4 billion.


Concerns that a possible downgrade of French banks could lead to downgrades of banks in neighboring nations weighed down shares of  Banco Santander (NYSE: STD) and Deutsche Bank (NYSE: DB).


Carol Bartz, who was fired from her position as chief executive officer of Yahoo (Nasdaq: YHOO) last Tuesday, resigned from the company's board of directors.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 670.

Concerns that French banks may be downgraded weighed the markets down to a lower open with the Dow falling 73 points to 10,918. Nasdaq lost 4 points to 2463.

On the upside

European oil field services firm Technip will pay approximately $937 million in cash to acquire Global Industries (Nasdaq: GLBL).

Broadcom (Nasdaq: BRCM) will acquire NetLogic Micrsystems (Nasdaq: NETL) for approximately $3.7 billion.

A Motley Fool article on Friday suggested that ReneSola (NYSE: SOL) may be a good investment.


On the downside


According to The Wall Street Journal, the Federal Reserve may be investigating Capital One Financial's (NYSE: COF) proposed acquisition of ING Groep (NYSE: ING).


Tenet Healthcare (NYSE: THC) warned that 2011 earnings will be at the low end of its guidance due to lower Medicaid reimbursements.


Questcor Pharmaceuticals (Nasdaq: QCOR) reported flat sequential sales of Acthar to treat nephrotic syndrome and infantile spasms.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 672.

Fear of defaults among European nations sent the markets into a tailspin with the Dow collapsing 303 points to 10,992. Nasdaq slumped 61 points to 2467.

On the upside

USA Technologies (Nasdaq: USAT) reported a sharp 81% year over year jump in cashless payment transactions.

Shares of Toreador Resources (Nasdaq: TRGL) rose ahead of its presentation at the Rodman & Renshaw Annual Global Investment Conference on Monday, September 12, 2011.


On the downside

Skyworks Solutions accused Advanced Analogic Technologies (Nasdaq: AATI) of failing to comply with conditions of their merger agreement.

Moody's Investors Service downgraded Beazer Homes USA's (NYSE: BZH) debt rating.

The chief executive officer of Tata Motors (NYSE: TTM), Carl-Peter Forster, resigned effective immediately.

Deutsche Bank downgraded TrueBlue (NYSE: TBI) to a Hold rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 673.

Renewed concerns about the European debt crisis sent the markets tumbling during the midday with the Dow slumping 272 points to 11,022. Nasdaq plummeted 47 points to 2481.

On the upside

Spherix (Nasdaq: SPEX) reported upbeat results for its high cholesterol treatment SPX-106

Caris & Co. upgraded Conn's (Nasdaq: CONN) to an Above Average rating.

China Green Agriculture (NYSE: CGA) reported higher fiscal 2011 earnings and revenue.


On the downside

Bank of America Merrill Lynch downgraded Regeneron Pharmaceuticals (Nasdaq: REGN) to an Underperform rating.

Investors locked in profits on MGIC Investment (NYSE: MTG), whose stock price climbed on Wednesday after the company announced that the number of delinquent mortgages dropped.

Korn/Ferry (NYSE: KFY) reported higher first quarter earnings as revenue climbed but investors were disappointed that the executive recruitment firm's second quarter guidance fell within analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of 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 676.

The resignation of European Central Bank Executive Board Member Juergen Stark sent the markets tumbling to a sharply lower open with the Dow plummeting 134 points to 11,161. Nasdaq fell 11 poRints to 2518.

On the upside

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

Swift Transportation (NYSE: SWFT) will provide a mid-quarter update through a conference call on Monday, September 12, 2011.

Marvell Technology (Nasdaq: MRVL) will present its high-definition ARMADA Systems-on-Chips family of media processors at the IBC 2011 being held from September 9-13 in Amsterdam.


On the downside

VeriSign  (Nasdaq: VRSN) announced the resignation of chief financial officer Brian Robins.

Lululemon Athletica (NYSE: LULU) reported higher second quarter earnings that topped analyst estimates but the athletic apparel company forecast disappointing third quarter results.

Kroger (Nasdaq: MW) reported higher second quarter earnings and revenue but the grocery store chain warned that rising expenses will impact results.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 6 points to 688.

The markets tumbled to close sharply lower with the Dow plunging 119 points to 11,295 after the Federal Reserve failed to inject additional stimulus funds into the economy. Nasdaq dropped 19 points to 2529.

On the upside

A Bloomberg survey of analysts indicated that Rex Energy (Nasdaq: REXX) is expected to soar 31% over the next year.

Piper Jaffray initiated coverage of Achillion Pharmaceuticals (Nasdaq: ACHN) with an Overweight rating.

Genco Shipping & Trading (NYSE: GNK) will present at the Deutsche Bank 2011 Aviation and Transportation Conference on Tuesday, September 13, 2011.


On the downside

Smithfield Foods  (NYSE: SFD) reported higher first quarter earnings but revenue fell short of expectations and the packaged meat company forecast disappointing full year results.

An unexpected increase in first time jobless claims weighed down shares of homebuilder Beazer Homes USA (NYSE: BZH).

Men's Wearhouse (Nasdaq: MW) reported higher second quarter earnings that topped estimates but the men's clothing retailer forecast current quarter revenue below expectations.

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 plummeted 14 points to 694.

The markets traded mixed during the midday with the Dow slipping 9 points to 11,405 as investors await speeches about the economy by Federal Reserve Chairman Ben Bernanke and President Barack Obama. Nasdaq added a point to 2550.

On the upside

Seeking Alpha contributor Adam Gefvert researched allegations of fraud against Silvercorp Metals (NYSE: SVM) and concluded that the company did not commit fraud.

Seeking Alpha contributor Rash Menaria listed Yamana Gold (NYSE: AUY) as the top performing large cap commodity stock.

A Bloomberg poll indicated that analysts expect Newmont Mining's (NYSE: NEM) stock price to soar 21.9% over the next year.


On the downside

Shares of online restaurant reservation site OpenTable (Nasdaq: OPEN) tumbled on news of Google's (Nasdaq: GOOG) acquisition of restaurant reveiw publisher Zagat.

MGIC Investment (NYSE: MTG) eliminated 19 positions in Milwaukee and engaged in discussion to sell two of its subsidiaries.

Second quarter earnings for Titan Machinery (Nasdaq: TITN) more than doubled and the company lifted its full year outlook but the guidance fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 704.

The markets opened mixed with the Dow slipping 8 points to 11,405 while Nasdaq added 2 points to 2551. The nation's trade deficit narrowed in July but first time applications for unemployment benefits unexpectedly rose last week.

On the upside

PerkinElmer (NYSE: PKI) will pay approximately $600 million in cash to acquire Caliper Life Sciences (Nasdaq: CALP) .

Valero Energy (NYSE: VLO) said that it may explore the possibility of acquiring Sunoco's Philadelphia and Marcus Hook, Pennsylvania refineries.

Hess (NYSE: HES) paid approximately $750 million to acquire 85,000 acres in Ohio's Utica Shale which includes the Marquette Exploration.


On the downside

Pall (NYSE: PLL) released preliminary fourth quarter earnings that fell short of analyst estimates.

Dollar General (NYSE: DG) shareholders will sell 25 million common shares.

Dendreon (Nasdaq: DNDN) will discuss restructuring plans during a conference call this afternoon.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 703.

The markets surged to close sharply higher with the Dow rocketing 275 points to 11,414 as a German court affirmed the nation's participation in bailout packages  Nasdaq jumped 75 points to 2548.

On the upside

Speculation swirled that Clean Energy Fuels (Nasdaq: CLNE) may have the opportunity to build liquid natural gas refueling stations for Westport Innovations' (Nasdaq: WPRT) and Royal Dutch Shell's joint liquid natural gas heavy commercial vehicles project.

Conn's (Nasdaq: CONN) swung to a second quarter loss due to one-time charges but the results were better than expected.

Dougherty & Co. analyst Andrea James upgraded Stratasys (Nasdaq: SSYS) to a Buy rating.

Goldman Sachs upgraded Las Vegas Sands (NYSE: LVS) to a Buy rating.

Qualcomm (Nasdaq: QCOM) will pay an undisclosed sum in cash to acquire video processing chips for high definition televisions from Integrated Device Technology.

On the downside

Mecox Lane (Nasdaq: MCOX) disappointed with flat revenue and a loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 28 points to 709.

Markets Extend Gains At Midday

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Investors welcomed action by Germany's high court to hasten loans to struggling economies. The markets extended its gains during the midday with the Dow rocketing 238 points to 11,378.  Nasdaq leaped 67 points to 2541.

On the upside

Third quarter same store sales for Office Depot (NYSE: ODP) slipped but gross margin improved.

MGIC Investment (NYSE: MTG) reported a sequential drop in delinquent loans and wrote $1.3 billion in new mortgage insurance in August.

An article in The Times of London said that Walter Energy (NYSE: WLT) may be the target of an acquisition by Anglo American.

Talbots (Nasdaq: TLB) reported a wider than expected loss for the second quarter but revenue topped analyst estimates and the company announced the departure of chief executive Michael Smaldone.

On the downside

Wunderlich downgraded VASCO Data Security International (Nasdaq: VDSI) to a Hold rating.

Francesca's Holdings (Nasdaq: FRAN) reported lower second quarter earnings even as revenue climbed.

In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 24 points to 705.

Bargain hunters lifted the markets to a sharply higher open with the Dow leaping 158 points to 11,298.  Nasdaq surged 42 points to 2516.

On the upside

Yahoo (Nasdaq: YHOO) fired chief executive officer Carol Bartz and named chief financial officer Tim Morse as interim chief executive.

Nvidia (Nasdaq: NVDA) forecast fiscal 2013 revenue ahead of analyst expectations.

FuelCell Energy (Nasdaq: FCEL) narrowed third quarter losses as revenue surged more than expected.

The European Union approved MELA Sciences' (Nasdaq: MELA) melanoma treatment MelaFind.

On the downside

Urban Outfitters (Nasdaq: URBN) warned that sales for the third quarter dropped.

National Retail Properties (NYSE: NNN) priced its public offering of 8 million common shares at $26.07 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 698.

Renewed fears of an expanding debt crisis in Europe overshadowed news that the nation's service sector expanded more than expected in August. The markets closed lower with the Dow plunging 100 points to 11,139.  Nasdaq lost 6 points to 2473.

On the upside

Rumors circulated that VeriSign (Nasdaq: VRSN) may be acquired after the company cancelled an appearance at the Citigroup Global Technology Conference.

Shares of Dynegy (NYSE: DYN) continued rising after the company acquired direct ownership of Dynegy Coal Holdco.

MannKind (Nasdaq: MNKD) will present at the Rodman & Renshaw Annual Global Investment Conference on Monday, September 12, 2011.

On the downside

Deer Consumer Products (Nasdaq: DEER) affirmed its full year outlook and announced that the New York Supreme Court granted the company's motion to serve a short seller with a summons and complaint in its suit alleging stock manipulation.

Shares of Yingli Green Energy (NYSE: YGE) tumbled over fears that it may also file bankruptcy protection. Rival Solyndra filed for bankruptcy protection last week.

Renewed concerns of an expanding debt crisis in Europe weighed down shares of UBS (NYSE: UBS) and ING (NYSE: ING).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 680.

Concerns about an expanding European debt crisis sent the markets into a tailspin with the Dow collapsing 214 points to 11,025.  Nasdaq sank 42 points to 2437.

On the upside

The Shaw Group (NYSE: SHAW) will sell its 20% stake in Westinghouse Electric to Toshiba for approximately $1.6 billion.

Hollysys Automation Technologies (Nasdaq: HOLI) announced that members of the management team have acquired approximately 725,467 shares of company stock.

Pharmasset (Nasdaq: VRUS) reported positive results from a mid-stage clinical trial of its hepatitis C treatment PSI-7977.

On the downside

World Street Fundamentals issued a research report on Alcatel-Lucent (NYSE: ALU) but the stock price fell.

Analysts expect National Semiconductor (NYSE: STM) to report lower first quarter earnings when the company announces results on Thursday.

Morgan Stanley downgraded Philips Electronics (NYSE: PHG) to an Underweight rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 671.

Renewed Recession Fears Sink Stocks

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Renewed recession fears sent the markets tumbling to a sharply lower open with the Dow sinking 204 points to 11,035.  Nasdaq plummeted 40 points to 2438.

On the upside

International Paper (NYSE: IP) will acquire Temple-Inland (NYSE: TIN) in a deal valued at approximately $4.3 billion including the assumption of debt.

Harbin Electric (Nasdaq: HRBN) reaffirmed its commitment to taking the company private.

Agria (NYSE: GRO) introduced a new field corn seed variety.

On the downside

Sirius XM (Nasdaq: SIRI) announced last week that it would offer a free two-week trial period to attract new customers.

Bank of America (NYSE: BAC) stock continued falling after the Federal Housing Finance Authority sued 17 banks for mortgage securities fraud.

Concerns that Europe's debt crisis will worsen weighed down shares of Credit Suisse (NYSE: CS).

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 668.

U. S. Markets Closed

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U. S. markets are closed in observance of the Labor Day holiday.

Stagnant job growth sparked fears of a double dip recession sending the markets tumbling to a sharply lower close with the Dow collapsing 253 points to 11,240.  Nasdaq plummeted 65 points to 2480.

On the upside

A Forbes article said that Mecox Lane (NYSE: MCOX) was a bargain.

On the downside

Esterline Technologies (NYSE: ESL) disappointed with lower third quarter earnings.

The International Trade Commission will review a determination made by a judge on July 1 that Apple's (Nasdaq: AAPL) Mac OS X system infringed on two patents held by S3 Graphics.

Wedbush downgraded Talbots (NYSE: TLB) to an Underperform rating.

Cowen & Co. analyst Matthew Hoffman said that sales will improve for Qualcomm (Nasdaq: QCOM) but the stock price fell.

Concerns of a solar industry slowdown weighed down shares of Trina Solar (NYSE: TSL).

In the broad market, declining issues outpaced advancers by a margin of nearly to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 683.

The markets tumbled during the midday with the Dow sinking 197 points to 11,296 as the nation's unemployment rate held steady at 9.1%.  Nasdaq stumbled 50 points to 2495.

On the upside

A Seeking Alpha article named Regeneron Pharmaceuticals (Nasdaq: REGN) as one of three healthcare stocks with significant upside potential.

An Investopedia article said that Central European Distribution (Nasdaq: CEDC) was a profitable company whose stock price has tumbled.

Rising gold prices lifted shares of Jaguar Mining (NYSE: JAG).

On the downside

AppleInsider insider reported that Best Buy lowered the price of Research in Motion's (NYSE: RIMM) Playbook tablet to $549 from $699.

General Electric (NYSE: GE) completed its $3.2 billion acquisition of power conversion and automation system company Converteam.

Halliburton sued BP (NYSE: BP) alleging negligent misrepresentation on the part of BP about the Deepwater Horizon oil well that exploded last year killing 11 people.

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 plunged 14 points to 694.

Disappointment that the nation's unemployment rate remained at 9.1% sent the markets tumbling to open sharply lower with the Dow plummeting 225 points to 11,263.  Nasdaq plunged 47 points to 2498.

On the upside

Finisar (Nasdaq: FNSR) reported lower first quarter earnings due to a one-time charge but the results topped analyst estimates.

Liz Claiborne (NYSE: LIZ) will sell its Mexx unit for $85 million plus an 18.75% stake in the joint venture acquiring the business.

Gramercy Capital (NYSE: GKK) settled $549.7 million senior and junior mezzanine loans.

On the downside

The New York Times reported that the Federal Housing Finance Agency will sue Bank of America (NYSE: BAC), Goldman Sachs (NYSE: GS) and JPMorgan Chase (NYSE: JPM) and other banks for misrepresenting mortgage securities that they sold.

Starz Entertainment will not renew its streaming contract with Netflix (Nasdaq: NFLX).

H&R Block (NYSE: HRB) widened first quarter losses more than expected as revenue fell.

In the broad market, declining issues outpaced advancers 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 tumbled 10 points to 698.

Markets Tumble As Gas Prices Climb

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Rising gasoline prices sent the markets tumbling to a sharply lower close with the Dow plunging 119 points to 11,493.  Nasdaq plummeted 33 points to 2546.

On the upside

A Seeking Alpha contributor suggested that Zynga acquire Glu Mobile (Nasdaq: GLUU).

Blue Coat Systems (Nasdaq: BCSI) reached a standstill agreement with Elliott Associates to provide confidential information to the investment firm for a possible acquisition.

Swisher Hygiene (Nasdaq: SWSH) acquired Evergreen Hygiene in a cash and stock deal.

On the downside

Vonage Holdings (NYSE: VG) announced that customers can add a second extension to their existing home plans for an additional $9.99 per month but the stock price fell.

Greif (NYSE: GEF) reported lower third quarter earnings that fell far short of analyst expectations and the industrial packaging company cut its full year outlook.

The Dallas County district attorney may open an investigation into allegations that Office Depot (NYSE: ODP) overcharged Dallas County for office supplies.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 708.

Markets Slip As Gas Prices Rise

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The markets traded lower during the midday with the Dow slipping 28 points to 11,584 despite upbeat jobs data as gasoline prices rose.  Nasdaq lost 9 points to 2570.

On the upside

Pier 1 Imports (NYSE: PIR) reported higher second quarter revenue and expects earnings to top analyst estimates.

Liquidity Services (Nasdaq: LQDT) will acquire Jacobs Trading in a deal valued at approximately $140 million.

UTi Worldwide (Nasdaq: UTIW) reported higher second quarter earnings that topped analyst estimates as revenue rose.

On the downside

Coldwater Creek (Nasdaq: CWTR) swung to a larger than expected loss for the second quarter as sales tumbled.

The SEC announced that it will review and research additional regulation of mortgage REITs sending shares of MFA Financial (NYSE: MFA) lower.

Robbins Umeda announced an investigation into possible breaches of fiduciary duty by AgFeed Industries (Nasdaq: FEED) officers and directors.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 723.

A drop in unemployment claims lifted the markets to a higher open with the Dow rising 43 points to 11,656.  Nasdaq added 8 points to 2587.

On the upside

Ciena (Nasdaq: CIEN) narrowed third quarter losses more than expected as the company cut expenses.

August same store sales rose 2.5% for Rite Aid (NYSE: RAD).

Shares of Brazilian banks Itau Unibanco (NYSE: ITUB), Banco Bradesco (NYSE: BBD) and Banco Santander (NYSE: BSBR) rose after the country's Monetary Policy Committee lowered its benchmark Selic interest rate.

On the downside

As part of Oxigene's (Nasdaq: OXGN) newly announced restructuring plan, the biopharmaceutical will abandon a Phase 3 registrational study of Zybrestat in patients with anaplastic thyroid cancer and halt a Phase 2 trial of Zybrestat in non-small cell lung cancer patients.

Gap (NYSE: GPS) reported a disappointing 6% drop in August same store sales.

SAIC (NYSE: SAI) reported lower second quarter earnings that fell short of expectations and forecast current quarter result below estimates prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 730.

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