October 2011 Archives

MF Global's Chapter 11 bankruptcy filing sent the markets tumbling to a sharply lower close with the Dow collapsing 276 points to 11,955. Nasdaq plummeted 52 points to 2684.

On the upside

World Street Fundamentals issued a research report on Sify Technologies (Nasdaq: SIFY).  


ITT (NYSE: ITT) completed the spin-off of its Defense and Information Systems division and its Water Technology and Services unit. 


B&G Foods (NYSE: BGS) will pay approximately $325 million in cash to acquire the Mrs. Dash, Molly McButter, Sugar Twin, Baker's Joy, Static Guard and Kleen Guard brands from Unilever. 

On the downside


Deutsche Bank (NYSE: DB) sold $1.02 billion in MF Global (NYSE: MF) bonds. MF Global filed for Chapter 11 bankruptcy protection today.

Jefferies Group (NYSE: JEF) said that it had less than $9 million of exposure to MF Global Holdings (NYSE: MF).   

Shares of Lincoln National  (NYSE: LNC) tumbled after MF Global (NYSE: MF) filed for Chapter 11 bankruptcy protection.

In the broad market, declining issues outpaced advancers 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 tumbled 19 points to 741.

Markets Extend Losses At Midday

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The markets extended its losses during the midday with the Dow plummeting 180 points to 12,050 as the dollar surged against the Japanese yen. Nasdaq plunged 33 points to 2703.

On the upside

On Friday, Spectrum Pharmaceuticals (Nasdaq: SPPI) reported record third quarter revenue and earnings.  


Third quarter earnings rose for Humana (NYSE: HUM) prompting the health insurer to lift its full year guidance. 


Shaw Group' (Nasdaq: SHAW) widened fourth quarter losses but the company said that it may sell it energy and chemicals business. 

On the downside


Reliance Industries announced that it had no intentions to acquire Valero Energy (NYSE: VLO).

Changyou.com (Nasdaq: CYOU) reported higher third quarter earnings and revenue but net margin fell.   

Integra LifeSciences (Nasdaq: IART) reported lower third quarter earnings and cut its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap dropped 13 points to 747.

Lower Open As Yen Weakens

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The markets opened sharply lower with the Dow plunging 123 points to 12,107 after Japan intervened to weaken the yen. Nasdaq dropped 24 points to 2712.

On the upside

Dahlman Rose upgraded Nabors Industries (NYSE: NBR) to a Buy rating after the company appointed Anthony Petrello to replace departing chief executive Gene Isenberg.  


The Food and Drug Administration approved Pacira Pharmaceuticals' (Nasdaq: PCRX) post surgical pain treatment EXPAREL. 


A district court ordered Amphastar Pharmaceuticals, Watson Pharmaceuticals and International Medical Systems to stop selling generic versions of Momenta Pharmaceuticals' (Nasdaq: MNTA) Lovenox until Momenta's patent infringement suit is settled. 

On the downside


NPS Pharmaceuticals (Nasdaq: NPSP) reported positive results from a STEPS 2 long-term open-label study of its short bowel syndrome treatment GATTEX but the stock price tumbled.

Sohu.com (Nasdaq: SOHU) reported higher third quarter earnings as revenue rose but gross margins fell.   

Investors locked in profits on Suntech Power (NYSE: STP), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) whose stock prices all rose last week after European leaders unveiled a plan to resolve the debt crisis.

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 tumbled 14 points to 746.

Consumer spending increased in September but income after taxes and inflation fell. The markets closed mixed with the Dow gaining 22 points to 12,231 while Nasdaq eased a point to 2737.

On the upside

Align Technology (Nasdaq: ALGN) reported higher third quarter earnings that beat analyst expectations and forecast fourth quarter results ahead of estimates.  


Third quarter earnings for Arch Coal (NYSE: ACI) tumbled but revenue climbed and the company affirmed its full year guidance. 


CBRE Group (NYSE: CBG) reported higher third quarter earnings as revenue climbed. 

On the downside


NuVasive (Nasdaq: NUVA) swung to a loss for the third quarter and warned of losses for the full year.

Old Republic (NYSE: ORI) widened third quarter losses.   

Apartment Investment and Management (NYSE: AIV) reported a loss for the third quarter as the average daily occupancy rate slipped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap lost 4 points to 761.

The markets traded mixed during the midday with the Dow rising 9 points to 12,217 as consumer spending rose in the third quarter while disposable income fell. Nasdaq lost 6 points to 2732.

On the upside

Sonus Networks (Nasdaq: SONS) reversed year ago losses to post a profit for the third quarter.  


Third quarter earnings more than doubled for Las Vegas Sands (NYSE: LVS) as revenue soared. 


Stillwater Mining (NYSE: SWC) reported sharply higher third quarter earnings that beat analyst expectations. 

On the downside


Digital River (Nasdaq: DRIV) reported flat third quarter earnings and forecast fourth quarter results below estimates.

MF Global Holdings (NYSE: MF) drew down the entire amount of two revolving credit lines.   

Standard Pacific (NYSE: SPF) blamed charges for swinging to a third quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap eased a point to 763.

Lower Open On Weak Income

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The markets opened lower with the Dow losing 13 points to 12,194 as consumer income barely edged up 0.1% in September. Nasdaq fell 6 points to 2732.

On the upside

Advanced Micro Devices (NYSE: AMD) reversed year ago losses to post a better than expected profit for the third quarter.  


Third quarter earnings surged for Interpublic Group of Companies (NYSE: IPG) to surpass analyst expectations. 


Newell Rubbermaid (NYSE: NWL) swung to a loss but the results were better than expected. 

On the downside


Whirlpool (Nasdaq: WHR) reported higher third quarter earnings but announced plans to eliminate more than 5,000 positions and slashed its full year guidance.

Third quarter earnings dropped for Cablevision (NYSE: CVC) to fall far short of analyst expectations.   

Aon (NYSE: AON) reported higher third quarter earnings but the results missed analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 761.

Investors welcomed news that the European bailout fund would increase to 1 trillion euros by boosting the markets to a sharply higher close with the Dow rocketing 339 points to 12,208. Nasdaq leaped 87 points to 2738.

On the upside

Morgan Stanley (NYSE: MS) increased it senior unsecured notes by $1 billion.  


Cemex (NYSE: CX) reported higher third quarter earnings and revenue. 


The Bedford Report expects Suntech Power (NYSE: STP) to benefit from the European bailout fund agreement. 

On the downside


BMC Software (Nasdaq: BMC) reported lower second quarter earnings and cut its full year guidance.

EQT (NYSE: EQT) reported higher third quarter earnings and revenue but the company failed to clarify plans for its pipeline operations.   

Berry Petroleum (NYSE: BRY) reversed year ago losses to post a profit for the third quarter but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 38 points to 765.

The nation's economy expanded in the third quarter at a 2.5% annual pace to boost the markets higher during the midday with the Dow leaping 267 points to 12,136. Nasdaq soared 59 points to 2709.

On the upside

Synovus Financial (NYSE: SNV) reversed year ago losses to post a better than expected profit for the third quarter.  


Third quarter earnings fell for Novellus Systems (Nasdaq: NVLS) but the results surpassed analyst expectations. 


Terex (NYSE: TEX) swung to a better than expected profit for the third quarter and lifted its full year revenue guidance. 

On the downside


NII Holdings (Nasdaq: NIHD) swung to a loss for the third quarter.

Third quarter earnings fell for Time Warner Cable (NYSE: TWC) to miss expectations as expenses rose.   

Community Health Systems (NYSE: CYH) reported higher third quarter earnings but revenue fell short of expectations.

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 surged 22 points to 749.

European leaders agreed to increase the rescue fund lifting the markets to a sharply higher open with the Dow surging 215 points to 12,084. Nasdaq jumped 48 points to 2699.

On the upside

Akamai Technologies (Nasdaq: AKAM) reported higher third quarter earnings that topped analyst estimates as revenue climbed and announced the resignation of president David Kenny.  


Third quarter earnings and revenue for Citrix Systems (Nasdaq: CTXS) rose to beat expectations and the company forecast current quarter results ahead of estimates. 


Shares of Barclays (NYSE: BCS), Deutsche Bank (NYSE: DB) and ING (NYSE: ING) all rose after European leaders increased the financial rescue fund to 1 trillion euros. 

On the downside


Third quarter earnings plunged for TriQuint Semiconductor (Nasdaq: TQNT) as revenue fell and the chipmaker forecast current quarter results below estimates.

Avon Products (NYSE: AVP) reported lower third quarter earnings and withdrew its guidance for the current quarter.   

McDermott International (NYSE: MDR) warned that third quarter earnings and revenue would fall short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 11 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 747.

Higher Close As Bailout Funds Soar

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The markets soared to close sharply higher with the Dow surging 162 points to 11,869 as European leaders pledged to increase bailout funds to one trillion euros. Nasdaq gained 12 points to 2650.

On the upside

F5 Networks (Nasdaq: FFIV) reported sharply higher fourth quarter earnings that surpassed analyst expectations as revenue soared.  


The Daily Mail reported that Reliance Industries will offer a premium of $48 per share in cash to acquire Valero Energy (NYSE: VLO). 


Nabors Industries (NYSE: NBR) reversed year ago losses to post a better than expected profit for the third quarter. 

On the downside


The Wall Street Journal reported that MF Global Holdings (NYSE: MF) retained the services of Evercore Partners to explore strategic options including the possible sale of the company.

Jones Group (NYSE: JNY) reported higher third quarter earnings but revenue fell short of expectations.   

Third quarter earnings rose for C. H. Robinson Worldwide (Nasdaq: CHRW) but revenue missed analyst expectations prompting downgrades.

In the broad market, advancing issues outpaced decliners 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 soared 13 points to 727.

Investors monitored rescue fund discussions to resolve the financial crisis in Europe. The markets traded mixed during the midday with the Dow rising 26 points to 11,733 while Nasdaq dropped 20 points to 2618.

On the upside

Express Scripts (Nasdaq: ESRX) reported higher third quarter earnings that beat analyst expectations as revenue rose.  


Third quarter earnings surged for Manitowoc (NYSE: MTW) to top analyst estimates as demand increased for cranes. 


Third quarter earnings for Medco Health Solutions (NYSE: MHS) slipped but the results were better than expected. 

On the downside


Thermo Fisher Scientific (NYSE: TMO) reported lower third quarter earnings and trimmed its full year guidance.

RadioShack (NYSE: RSH) disappointed with sharply lower third quarter earnings that fell far short of expectations.   

Third quarter earnings rose for Valassis Communications (NYSE: VCI) but revenue fell and the company lowered its full year outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 717.

Mixed Open As European Leaders Meet

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The markets opened mixed with the Dow gaining 83 points to 11,789 as European leaders met to finalize details of a financial bailout package. Nasdaq slipped 4 points to 2634.

On the upside

Sprint (NYSE: S) agreed to provide financing for Clearwire's (Nasdaq: CLWR) 4G network.  


Corning (NYSE: GLW) reported higher third quarter earnings that surpassed analyst expectations as revenue climbed and the company expects higher demand from Korea. 


Bargain hunters lifted shares of First Solar (Nasdaq: FSLR), whose stock price plunged yesterday after chief executive Rob Gillette left and the company cut its full year guidance. 

On the downside


Amazon.com (Nasdaq: AMZN) disappointed with sharply lower third quarter earnings that fell far short of analyst expectations and warned of a possible loss for the current quarter.

Third quarter earnings slipped for Ford (NYSE: F) and the automaker warned of lower margins for the year.   

Human Genome Sciences (Nasdaq: HGSI) widened third quarter losses more than expected.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 714.

The markets closed sharply lower with the Dow collapsing 207 points to 11,706 ahead of the European summit meeting tomorrow. Nasdaq stumbled 61 points to 2638.

On the upside

Under Armour (NYSE: UA) impressed with higher third quarter earnings and revenue that topped analyst estimates and lifted its full year outlook.  


Third quarter earnings and revenue climbed for Albemarle (NYSE: ALB) to beat expectations. 


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


On the downside


First Solar (Nasdaq: FSLR) announced the immediate departure of chief executive Rob Gillette.

Paragon Report issued research reports on mortgage insurers Genworth Financial (NYSE: GNW) and MGIC Investment (NYSE: MTG) saying that mortgage delinquencies rose in the second quarter.   

ResMed (NYSE: RMD) disappointed with lower third quarter earnings that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 2 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 22 points to 713.

The markets extended its losses during the midday with the Dow plunging 127 points to 11,786 as consumer confidence dropped unexpectedly. Nasdaq plummeted 46 points to 2653.

On the upside

Fortinet (Nasdaq: FTNT) reported higher third quarter earnings as revenue climbed.  


Third quarter earnings for Illumina (Nasdaq: ILMN) dropped as revenue slipped but the genetic analysis instrument maker announced restructuring plans to lower expenses. 


Third quarter earnings for Unisys (NYSE: UIS) more than doubled to beat expectations by a wide margin as revenue climbed. 


On the downside


Investors locked in profits on CIENA (Nasdaq: CIEN), whose stock price climbed yesterday on news that its Carrier Ethernet Service Delivery portfolio and Ethernet Service Manager solutions would be used for a new fiber optic network being built by Fibertech Networks.

Rising crude oil prices weighed down shares of Marathon Petroleum (NYSE: MPC).   

U. S. Steel (NYSE: X) reversed year ago losses to post a better than expected profit for the third quarter but warned of weakness for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 724.

An unexpected drop in consumer confidence weighed the markets down to a lower open with the Dow tumbling 84 points to 11,829. Nasdaq fell 23 points to 2675.

On the upside

Quest Diagnostics (NYSE: DGX) reported lower third quarter earnings but revenue rose to top estimates and the company increased its quarterly dividend.  


Third quarter earnings more than doubled for BP (NYSE: BP) as revenue climbed. 


The FDA approved a Phase 2 study for Aeterna Zentaris' (Nasdaq: AEZS) breast cancer treatment AEZS-108. 


On the downside


Third quarter earnings rose for Netflix (Nasdaq: NFLX) to beat expectations but the company lost more subscribers than expected and warned of losses next year.

MF Global (NYSE: MF) widened second quarter losses more than expected.   

AK Steel Holding (NYSE: AKS) narrowed third quarter losses but warned of challenging economic conditions and issued no outlook for the current quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 13 points to 722.

Upbeat earnings along with corporate consolidations lifted the markets to a sharply higher close with the Dow surging 104 points to 11,913. Nasdaq leaped 61 points to 2699.

On the upside

Solar stocks JA Solar Holdings (Nasdaq: JASO), Suntech Power Holdings (NYSE: STP) and Yingli Green Energy (NYSE: YGE) climbed after Yingli reported increased demand in Germany and Italy due to low prices.  


Sky-mobi (Nasdaq: MOBI) entered a strategic alliance with SINA (Nasdaq: SINA) to offer SINA's Weibo.com as a downloadable application through Sky-mobi's social network. 


Plains All American Pipeline made a hostile bid for SemGroup (NYSE: SEMG) valued at approximately $1 billion. 


On the downside


Motley Fool wrote that Western Refining's (NYSE: WNR) margins were improving but the stock price fell.

A Seeking Alpha contributor wrote that Eastman Kodak's (NYSE: EK) business model has become obsolete with the proliferation of good phone cameras.   

Shares of First Niagara Financial Group (NYSE: FNFG) continued falling after reporting third quarter earnings last week that fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 23 points to 736.

The markets extended its gains during the midday with the Dow soaring 127 points to 11,936 as investors welcomed merger and acquisition news. Nasdaq jumped 65 points to 2702.

On the upside

KPMG confirmed the accuracy of Silvercorp Metals' (NYSE: SVM) financial reports after conducting an intensive forensic accounting investigation.  


Newsweek named Office Depot (NYSE: ODP) as the nation's greenest large retailer for the second year in a row. 


Exelixis (Nasdaq: EXEL) reported positive results from a late stage clinical trial of its thyroid cancer treatment cabozantinib. 


On the downside


Credit Suisse slashed its price target for SXC Health Solutions (Nasdaq: SXCI) after Cigna (NYSE: CI) announced its acquisition of SXC customer HealthSpring (NYSE: HS).

MF Global Holdings (NYSE: MF) rescheduled its second quarter earnings report release to Tuesday, October 25, 2011 from Thursday, October 27, 2011.   

Analysts expect Colgate-Palmolive (NYSE: CL) to report higher third quarter earnings on Thursday, October 27, but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 732.

Corporate consolidations lifted the markets to a higher open with the Dow gaining 69 points to 11,878. Nasdaq soared 38 points to 2676.

On the upside

Cigna will pay a premium of approximately $3.8 billion in cash to acquire HealthSpring (NYSE: HS).  


Adolor (Nasdaq: ADLR) will be acquired by Cubist Pharmaceuticals (Nasdaq: CBST) for approximately $190 million in cash. 


Oracle (Nasdaq: ORCL) will pay a premium of approximately $1.5 billion to acquire RightNow Technologies (Nasdaq: RNOW). 


On the downside


AT&T (NYSE: T) will seek a dismissal of Sprint's (NYSE: S) antitrust suit to prevent AT&T's acquisition of T-Mobile USA.

Shares of MGIC Investment (NYSE: MTG) and Radian Group (NYSE: RDN) after the Arizona Department of Insurance seized PMI Group's (NYSE: PMI) PMI Mortgage Insurance division.   

Kimberly-Clark (NYSE: KMB) disappointed with lower third quarter earnings and trimmed its full year earnings and revenue guidance.

In the broad market, advancing issues outpaced decliners 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 soared 10 points to 723.

Higher Close On Strong Earnings

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Strong earnings news sent the markets soaring to close higher with the Dow leaping 267 points to 11,808. Nasdaq surged 38 points to 2637.

On the upside

Harman International (NYSE: HAR) reported sharply higher first quarter earnings that surpassed analyst expectations.  


Third quarter earnings for Cytec Industries (NYSE: CYT) climbed to beat expectations and the company announced that it was exploring options for its coating resins business. 


A. O. Smith (NYSE: AOS) reported higher third quarter earnings and lifted its full year outlook. 


On the downside


Athenahealth (Nasdaq: ATHN) reported higher third quarter earnings and lifted its full year guidance but the stock price dropped.

RSC Holdings (NYSE: RRR) reversed year ago losses to post a profit for the third quarter but the stock price fell.   

USEC (NYSE: USU) continued discussions with the Department of Energy to one day commercialize the American Centrifuge project technology.

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 jumped 16 points to 712.

A drop in the September unemployment rate in 25 states boosted the markets higher during the midday with the Dow soaring 180 points to 11,722. Nasdaq climbed 20 points to 2619.

On the upside

Altera (Nasdaq: ALT) reported lower third quarter earnings and revenue but analysts maintained Buy ratings on the company.  


Third quarter earnings slipped for Flextronics (Nasdaq: FLEX) but Citigroup lifted its price target to $7. 


Synaptics (Nasdaq: SYNA) reported lower first quarter earnings but the results beat analyst expectations. 


On the downside


Abbott Laboratories' (NYSE: ABT) reported positive interim results from a study of its hepatitis C treatment sending shares of rival Pharmasset (Nasdaq: VRUS) tumbling.

Calix (NYSE: CALX) widened third quarter losses.   

Basic Energy Services (NYSE: BAS) reversed year ago losses to post a profit for the third quarter but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 702.

Upbeat earnings reports lifted the markets to a sharply higher open with the Dow surging 204 points to 11,746. Nasdaq soared 43 points to 2642.

On the upside

First quarter earnings slipped for Seagate Technology (Nasdaq: STX) but the results topped analyst estimates.  


SanDisk (Nasdaq: SNDK) reported lower third quarter earnings as expenses rose but the results surpassed expectations. 


LyondellBasell Industries (NYSE: LYB) commenced a cash tender offer for senior secured notes. 


On the downside


Acme Packet (NYSE: APKT) disappointed with lower third quarter earnings that fell short of analyst expectations.

MGIC Investment (NYSE: MTG) blamed rising mortgage delinquencies for widening third quarter losses.   

Informatica (Nasdaq: INFA) reported higher third quarter earnings that topped analyst estimates but the company forecast fourth quarter revenue that fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners barely edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 707.

It was a mixed close for the markets with the Dow gaining 37 points to 11,541 as European leaders failed to resolve differences in proposed bailout plans. Nasdaq lost 5 points to 2598.

On the upside

KeyCorp (NYSE: KEY) reported higher third quarter earnings that topped analyst estimates.  


Western Digital (NYSE: WDC) reported higher first quarter earnings that beat analyst expectations as revenue surged. 


American Airlines parent AMR (NYSE: AMR) reported a third quarter loss yesterday but Sterne Agee analyst Jeff Kauffman expects the stock price to climb to $5 once ongoing negotiations with the pilots' union are finalized. 


On the downside


Agnico-Eagle Mines (NYSE: AEM) doubled its maximum cash offer to acquire Grayd Resource.

8x8 (Nasdaq: EGHT) disappointed with lower second quarter earnings.   

Third quarter earnings plunged for Astoria Financial (NYSE: AF) to fall short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners barely edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 696.

A drop in September sales of previously owned homes weighed the markets down with the Dow falling 55 points to 11,449. Nasdaq tumbled 30 points to 2574.

On the upside

Third quarter earnings climbed for Riverbed Technology (Nasdaq: RVBD) to top analyst estimates as revenue rose.  


Patriot Coal (NYSE: PCX) widened third quarter losses but the results were better than expected. 


Select Comfort (Nasdaq: SCSS) reported sharply higher third quarter earnings as sales climbed prompting the mattress maker to lift its full year guidance. 


On the downside


Second quarter earnings tumbled for Cirrus (Nasdaq: CRUS) to fall short of expectations and the company forecast third quarter results below estimates.

Quicksilver Resources (NYSE: KWK) will spin off part of its Barnett shale assets.   

Ingersoll-Rand (NYSE: IR) blamed a significant impairment charge for sharply lower third quarter earnings and trimmed its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 685.

The markets opened mixed with the Dow rising 13 points to 11,518 despite a drop in jobless claims as concerns arose that the second financial aid package for Greece may not be finalized until the end of November. Nasdaq lost 8 points to 2595.

On the upside

Nokia (NYSE: NOK) swung to a third quarter loss but the results were better than expected.  


Ericsson (Nasdaq: ERIC) reported higher third quarter earnings and revenue that topped analyst expectations. 


Third quarter earnings for Fifth Third Bancorp (Nasdaq: FITB) more than doubled to beat estimates. 


On the downside


Polycom (Nasdaq: PLCM) disappointed with third quarter earnings and revenue that missed analyst expectations prompting downgrades.

Third quarter earnings and revenue dropped for Boston Scientific (NYSE: BSX).   

Newfield Exploration (NYSE: NFX) reported higher third quarter earnings and revenue but the company lowered its full year production outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 690.

Greece Rioting Weighs Down Markets

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Rioting in Greece sparked a sell-off in late afternoon trading to weigh the markets down to a lower close with the Dow dropping 72 points to 11,504. Nasdaq tumbled 53 points to 2604.

On the upside

Tekelec (Nasdaq: TKLC) reported preliminary third quarter earnings and revenue that were stronger than expected.  


Shares of Zeltiq Aesthetics (Nasdaq: ZLTQ) surged on its first trading day. 


Intuitive Surgical (Nasdaq: ISRG) impressed with sharply higher third quarter earnings as revenue surged. 


On the downside


Green Mountain Coffee Roasters (Nasdaq: GMCR) announced plans to expand operations at four sites in Vermont but the stock price dropped.

Cree (Nasdaq: CREE) disappointed with sharply lower first quarter earnings and forecast second quarter results well below analyst estimates.   

Comerica (Nasdaq: CWTR) priced its offering of 26.5 million common shares at the discounted price of $0.85 per share.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 694.

The markets traded mixed during the midday with the Dow gaining 34 points to 11,611 as anti-austerity demonstrations turned violent in Greece. Nasdaq fell 14 points to 2643.

On the upside

Third quarter earnings for United Rentals (NYSE: URI) more than tripled as revenue surged.  


A surge in September home construction lifted shares of KB Home (NYSE: KBH) and Hovnanian (NYSE: HOV). 


Shares of Human Genome Sciences (Nasdaq: HGSI) continued rising over speculation that GlaxoSmithKline (NYSE: GSK) may purchase the biotech. 


On the downside


Agnico-Eagle Mines (NYSE: AEM) suspended its Val d'Or, Quebec operations due to water inflow and ground instability.

Two of Western Digital's (NYSE: WDC) factories have been closed due to flooding in Thailand.   

Comerica (NYSE: CMA) reported higher third quarter earnings but warned that net interest margin will fall in the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 705.

Mixed Open On Housing Data

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Construction of apartments surged in September but building permits fell.  The markets opened mixed with the Dow rising 42 points to 11,620 while Nasdaq lost 8 points to 2649.

On the upside

Abbott Laboratories (NYSE: ABT) will become two separate companies with one focused on generic drugs and medical devices while the other company will be dedicated to research based medicines.  


Morgan Stanley (NYSE: MS) reversed year ago losses to post a better than expected profit for the third quarter. 


Apollo Group (Nasdaq: APOL) reported higher fourth quarter earnings that surpassed analyst expectations. 


On the downside


Powerwave Technologies (Nasdaq: PWAV) warned that third quarter revenue will fall far short of analyst expectations.

Alcatel-Lucent's (NYSE: ALU) Genesys unit received an acquisition offer from private equity firm Permira.   

ON Semiconductor (Nasdaq: ONNN) said that flooding in Thailand has damaged manufacturing facilities and will reduce revenue by between $40 to $60 million every quarter over the next year.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 707.

Reports that France and Germany agreed to increase the rescue package for troubled European nations lifted the markets to a sharply higher close with the Dow soaring 180 points to 11,577. Nasdaq surged 42 points to 2657.

On the upside

Compass Point upgraded Regions Financial (NYSE: RF) to a Neutral rating from Sell.  


State Street (NYSE: STT) reported higher third quarter earnings and revenue that topped analyst expectations. 


Halozyme Therapeutics (Nasdaq: HALO) reported positive results from a late stage clinical trial of its breast cancer treatment Herceptin. 


On the downside


Polaris Industries (NYSE: PII) reported higher third quarter earnings and revenue that topped estimates but the stock price dropped.

Ingram Micro (NYSE: IM) warned that third quarter earnings will fall short of analyst expectations.   

Profit taking weighed down shares of Sequenom (Nasdaq: SQNM).

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 709.

Homebuilder sentiment rose to lift the markets higher during the midday with the Dow gaining 78 points to 11,475. Nasdaq rose 15 points to 2630.

On the upside

Improving homebuilder sentiment lifted shares of PulteGroup (NYSE: PHM), D. R. Horton (NYSE: DHI) and Toll Brothers (NYSE: TOL).  


Third quarter earnings for Brown & Brown (NYSE: BRO) slipped but revenue rose. 


Goldman Sachs upgraded AK Steel (NYSE: AKS) to a Neutral rating from Sell. 


On the downside


Hospira (NYSE: HSP) warned of losses for the third quarter and slashed its full year 

Third quarter earnings more than doubled for Harley-Davidson (NYSE: HOG) as revenue climbed but the motorcycle company lowered its margin for the fourth quarter.   

New Oriental Education and Technology (NYSE: EDU) reported higher first quarter earnings and revenue but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 698.

Markets Open Flat

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Moody's warned that France's credit rating may receive a negative outlook. The market opened flat with the Dow slipping 2 points to 11,394 while Nasdaq added 2 points to 2617.

On the upside

Human Genome Sciences (Nasdaq: HGSI) will release third quarter earnings and host a conference call on Tuesday, October 25.  


Bank of America (NYSE: BAC) reversed year ago losses to post a better than expected profit for the third quarter. 


Kodiak Oil & Gas (NYSE: KOG) reported third quarter product sales volumes that more than doubled from last year. 


On the downside


Crocs (Nasdaq: CROX) blamed softening sales for lowering its third quarter guidance.

Regeneron Pharmaceuticals (Nasdaq: REGN) will offer $400 million in convertible senior notes.   

UnitedHealth Group (NYSE: UNH) reported lower third quarter earnings as expenses rose.

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 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 684.

Germany warned that a detailed plan to resolve Europe's debt crisis will not be finalized this weekend sending the markets tumbling to a sharply lower close with the Dow collapsing 247 points to 11,397. Nasdaq plummeted 52 points to 2614.

On the upside

Roche's $230 million acquisition of Anadys Pharmaceuticals (Nasdaq: ANDS) sparked speculation that fellow hepatitis C treatment developer Inhibitex (Nasdaq: INHX) may also be acquired.  


Shanda Interactive (Nasdaq: SNDA) chief executive Tianqiao Chen offered approximately $2.33 billion in cash to take the company private. 


On the downside


Profit taking sank shares of Cemex (NYSE: CX) .

Canadian Solar (Nasdaq: CSIQ) blamed lower prices for warning of sharply lower margins in the third quarter.   

Canaccord Genuity analyst Jonathan Dorsheimer downgraded Veeco (Nasdaq: VECO) to a Sell rating and slashed his price target on the company to $18 from $45.

Kaufman Bros. analyst Jeffrey Bencik cited increasing supplies flooding the LED market for reiterating his Sell rating on Cree (Nasdaq: CREE). 


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 23 points to 688.

Markets Extend Losses

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The markets extended its losses during the midday with the Dow slumping 214 points to 11,429. Nasdaq plunged 50 points to 2617.

On the upside

Sequenom (Nasdaq: SQNM) introduced its noninvasive prenatal Down syndrome test in 20 metropolitan regions.  


The Bedford Report issued a research report on USEC (NYSE: USU) saying that uranium prices are stabilizing. 


Royale Energy (Nasdaq: ROYL) sponsored the Present: Hope cycling tour to raise funds for victims of the Joplin, MO tornado and co chief executive Stephen Hosmer participated as a cyclist.

On the downside


Greenlight Capital founder David Einhorn questioned Green Mountain Coffee Roasters' (Nasdsaq: GMCR) business practices.   

Gannett (NYSE: GCI) reported lower third quarter earnings as revenue fell.

RBC Capital Markets lowered its price target on Manitowoc (NYSE: MTW) to $17 from $27. 


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 19 points to 693.

Concerns that the debt summit in Europe this weekend will fail to yield concrete steps to resolving the financial crisis sent the markets tumbling to a sharply lower open with the Dow plunging 132 points to 11,511. Nasdaq dropped 27 points to 2640.

On the upside

El Paso (NYSE: EP) will be acquired by Kinder Morgan (NYSE: KMI) in a cash and stock deal valued at approximately $21.1 billion including the assumption of debt.  


Statoil ASA will pay approximately $4.4 billion in cash to acquire Brigham Exploration (Nasdaq: BEXP). 


Anadys Pharmaceuticals (Nasdaq: ANDS) agreed to be acquired by Roche for a premium of approximately $230 million in cash.

On the downside


FBR Capital and Oppenheimer downgraded El Paso Pipeline Partners (NYSE: EPB).   

Wells Fargo (NYSE: WFC) reported higher third quarter earnings but revenue dropped to fall short of analyst expectations.

Third quarter earnings and revenue climbed to Halliburton (NYSE: HAL) but the oil services firm may have to pay billions to settle liability claims for the Deepwater Horizon explosion last year. 


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 plunged 10 points to 702.

A strong gain in September retail sales sent the markets soaring to a sharply higher close with the Dow leaping 166 points to 11,644. Nasdaq jumped 47 points to 2667.

On the upside

Shares of Ubiquiti Networks (Nasdaq: UBNT) soared on its first trading day.  


Relational Investors and the California State Teachers' Retirement System each purchased shares in Harman International (NYSE: HAR). 


Shares of USEC (NYSE: USU) surged after rival uranium producer Uranium Energy narrowed losses

On the downside


Level 3 Communications (Nasdaq: LVLT) will announce third quarter results on Wednesday, November 2, 2011.   

Moody's downgraded Clearwire's (Nasdaq: CLWR) credit rating.

Oncologist Dr. Mark Ratain expects Keryx Pharmaceuticals' (Nasdaq: KERX) colon cancer medication perifosine to fail its clinical trial. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 712.

The markets advanced during the midday with the Dow soaring 134 points to 11,612 on strong September retail sales. Nasdaq surged 39 points to 2659.

On the upside

StockCall.com issued a research report on Lincoln National (NYSE: LNC).  


Activist investor Carl Icahn paid approximately $118.1 million for 7.1 million shares of Navistar International (NYSE: NAV) to take a 9.8% stake in the vehicle manufacturer. 


OXiGENE (Nasdaq: OXGN) terminated its financing agreement with Kingsbridge Capital.

On the downside


Chipworks reported that Apple's (Nasdaq: AAPL) iPhone 4S uses a Sony (NYSE: SNE) camera sensor sending shares of rival OnmiVision Technologies (Nasdaq: OVTI) tumbling.   

The Defense Department said that AVI BioPharma's (Nasdaq: AVII) influenza treatment failed to qualify for a contract.

Microchip Technology (Nasdaq: MCHP) cut its second quarter earnings outlook. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 709.

Gain In Retail Sales Lifts Markets

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A gain in September retail sales lifted the markets to a higher open with the Dow climbing 87 points to 11,566. Nasdaq soared 25 points to 2645.

On the upside

Google (Nasdaq: GOOG) impressed with sharply higher third quarter earnings that surpassed analyst expectations as revenue surged.  


Shares of Sprint (NYSE: S) rose as sales of the Apple (Nasdaq: AAPL) iPhone 4S began and are expected to hit a record 3 million in sales over the weekend. 


Cemex (NYSE: CX) updated investors on the development of affordable housing projects in Southern Mexico and Central America.

On the downside


Depomed (Nasdaq: DEPO) reported disappointing results from a late stage clinical trial of its menopausal hot flash treatment Serada.  

National CineMedia (Nasdaq: NCMI) blamed a drop in advertising revenue for lowering its full year outlook.

Investors locked in profits on Vertex Pharmaceuticals (Nasdaq: VRTX) whose shares rose yesterday over the prospect of higher Incivek sales. 


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 704.

It was a mixed close for the markets with the Dow losing 40 points to 11,478 as mortgage rates rose and a European Union official suggested that the bailout package for Greece must be renegotiated. Nasdaq gained 15 points to 2620.

On the upside

iFixit discovered at least two Triquint (Nasdaq: TQNT) parts inside the iPhone (Nasdaq: AAPL) 4S.  


Clearwire's (Nasdaq: CLWR) impressive report that preliminary third quarter revenue more than doubled from last year lifted shares of Sprint (NYSE: S), a majority shareholder of Clearwire. 


A British newspaper reported that several companies may be interested in acquiring Walter Energy (NYSE: WLT).

On the downside


Shares of Alliance Data Systems (NYSE: ADS) fell after JPMorgan (NYSE: JPM) warned that charge-off rates, which have been slipping, may flatten in the first quarter.  

OCZ Technology (Nasdaq: OCZ) launched its Deneva 2 and Intrepid Series mSATA SSD lineup for OEM clients but the stock price fell.

Investors locked in profits on A123 Systems (Nasdaq: AONE). 


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 698.

Mortgage rates rose to weigh the markets down during the midday with the Dow falling 66 points to 11,45. Nasdaq eased a fraction to 2604.

On the upside

A Forbes article on Chinese stocks highlighted the surge in Sina's (Nasdaq: SINA) stock price this year.  


Prescription data company IMS Health used incomplete data last month and may have underestimated sales for Vertex Pharmaceuticals' (Nasdaq: VRTX) hepatitis C treatment Incivek. 


Fairchild Semiconductor (NYSE: FCS) reported flat third quarter earnings but the results topped analyst estimates.

On the downside


Fitch Ratings placed Barclays (NYSE: BCS) on watch for a possible downgrade.  

Sterne Agee analyst Shaw Wu lowered his third quarter revenue and earnings guidance for Research in Motion (Nasdaq: RIMM) and cut his price target to $31 from $35.

Investors locked in profits on Cemex (NYSE: CX). 


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 689.

Global Economic Concerns Sink Stocks

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China's trade surplus narrowed in September renewing concerns of a prolonged global economic downturn. The markets opened lower with the Dow dropping 83 points to 11,435 while Nasdaq slipped 2 points to 2601.

On the upside

Clearwire (Nasdaq: CLWR) reported preliminary third quarter revenue that more than doubled from last year.  


Akamai Technologies (Nasdaq: AKAM) entered a strategic alliance with Evidon to offer Evidon's privacy and compliance InForm assurance service. 


Safeway (NYSE: SWY) reported higher third quarter earnings that topped analyst expectations.

On the downside


JPMorgan Chase & Co. (NYSE: JPM) disappointed with lower third quarter earnings and announced the elimination of 1,000 jobs.  

USA Technologies (Nasdaq: USAT) suspended George Jensen as chief executive while the audit committee investigates postings made on an Internet message board.

BB&T Capital initiated coverage of Freeport-McMoRan (NYSE: FCX) with a Buy rating but the stock price dropped. 


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 691.

Investors continued to hold out hope that the European Union would expand its financial bailout fund. The markets closed sharply higher with the Dow surging 102 points to 11,518 while Nasdaq climbed 21 points to 2604.

On the upside

Bargain hunters lifted shares of Cemex (NYSE: CX) whose stock price plunged last week over debt concerns.  


Investors snapped up shares of Frontline (Nasdaq: GTIV) whose stock price has steadily fallen since reporting a loss at the end of August and suffering analyst downgrades. 


Global Hunter Securities upgraded W&T Offshore (NYSE: WTI) to a Buy rating.

On the downside


Bloomberg reported that Eastman Kodak (NYSE: EK) bondholders are pushing to be paid first from any patent portfolio asset sales.  

Global service disruptions continued to plague Research in Motion's (Nasdaq: RIMM) BlackBerry.

RBC Capital Markets initiated coverage of Marvel Technology Group (Nasdaq: MRVL) with an Outperform rating but the stock price fell. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 700.

Continued optimism that European leaders will expand the financial rescue plan lifted the markets sharply higher during the midday with the Dow jumping 121 points to 11,537. Nasdaq soared 33 points to 2616.

On the upside

A Seeking Alpha contributor expects Renesola (NYSE: SOL) and Yingli Green Energy (NYSE: YGE) to post profits for the year.  


Bargain hunters lifted shares of Gentiva Health Services (Nasdaq: GTIV), whose stock price fell after a series of downgrades last week. 


TE Connectivity (Nasdaq: TEL) will replace Cephalon (Nasdaq: CEPH) on the S&P 500 index after Cephalon merges with Teva (Nasdaq: TEVA).

On the downside


ADTRAN (Nasdaq: ADTN) reported higher third quarter earnings but investors were disappointed that the results failed to top analyst estimates.  

Platinum Underwriters Holdings (NYSE: PTP) warned of lower third quarter earnings due to claims from Hurricane Irene and the earthquakes that struck Japan and New Zealand.

JP Morgan downgraded Brocade Communications Systems (Nasdaq: BRCD) to an Underweight rating. 


In the broad market, advancing issues outpaced decliners by a margin of 9 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 698.

The markets opened sharply higher with the Dow soaring 130 points to 11,546 in anticipation of Slovakia's approval to expand the European bailout fund. Nasdaq surged 40 points to 2623.

On the upside

Liz Claiborne (NYSE: LIZ) will sell four of its brands for approximately $328 million and change its name to better represent its remaining Juicy Couture and Lucky Brands.  


Alcatel-Lucent (NYSE: ALU) will deploy a Long Term Evolution Public Safety Network in Charlotte, North Carolina. 


CNBC reported that A123 Systems (Nasday: AONE) will supply the batteries for General Motors' (NYSE: GM) electric vehicle Spark.

On the downside


Chesapeake Midstream Partners (NYSE: CHKM) priced its secondary offering of 10 million common units at $26.65 per unit.  

Jefferies initiated coverage of GT Advanced Technologies (Nasdaq: GTAT) with an Underperform rating.

Alcoa (NYSE: AA) reported higher third quarter earnings but the results fell far short of analyst expectations. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 697.

It was a mixed close for the markets with the Dow slipping 16 points to 11,416 after Slovakia delayed its vote to expand the bailout fund. Nasdaq gained 16 points to 2583.

On the upside

US Airways (NYSE: LCC) raised average ticket prices by only $25 to $337 compared with a $40 increase to $364 by AMR (NYSE: AMR) and a $31 increase by Delta (NYSE: DAL) to $344.  


Clean Diesel Technologies (Nasdaq: CDTI) announced preliminary third quarter revenue that surpassed analyst expectations. 


AuthenTec's (Nasday: AUTH) QuickSec VPN security was chosen by LG Electronics for its Android smartphones.

On the downside


Shares of Netflix (Nasdaq: NFLX) continued falling after abandoning plans yesterday to split its DVD rental business from its streaming business.  

RF Micro Devices (Nasdaq: RFMD) announced a conference call on Tuesday, October 25, 2011, to review second quarter results.

U. S. Bank (NYSE: USB) launched an iPhone (Nasdaq: AAPL) app to apply for and receive a virtual credit card at select retailers. 


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 688.

The markets traded mixed during the midday with the Dow easing 4 points to 11,429 as investors digested news that more job may be lost in the financial sector. Nasdaq climbed 10 points to 2576.

On the upside

Shares of Coffee Holding (Nasdaq: JVA) rose ahead of its ex-dividend date on Thursday, October 13, 2011.  


American Airlines parent AMR (NYSE: AMR) announced seat capacity cuts and the retirement of up to eleven Boeing 757s. 


Jones Group (NYSE: JNY) is in negotiations to sell its jeans business for between $350 million to $400 million.

On the downside


Shares of STMicroelectronics (NYSE: STM) fell as growth projections for semiconductors have dropped.  

Piper Jaffray analyst Ahmar Zaman downgraded Rubicon (Nasdaq: RBCN) citing lower LED prices.

Arrow Electronics (NYSE: ARW) will move its global headquarter from Melville, New York to Denver, Colorado. 


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 682.

Markets Mixed Ahead Of Slovakia Vote

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The markets opened mixed with the Dow falling 31 points to 11,401 as Slovakia prepared to vote for the expansion of the bailout fund for Europe. Nasdaq gained 7 points to 2573.

On the upside

Arris Group (Nasdaq: ARRS) will pay a premium of approximately $53 million in cash to acquire BigBand Networks (Nasdaq: BBND).  


Ares Management and Canada Pension Plan Investment Board will acquire 99 Cents Only Stores (NYSE: NDN) for approximately $1.6 billion in cash. 


Jefferies & Co. analyst Randal Konik upgraded Aeropostale (NYSE: ARO) to a Buy rating.

On the downside


Mechel (NYSE: MTL) disappointed with second quarter earnings that fell far short of analyst expectations.  

Sally Beauty Holdings (NYSE: SBH) announced a secondary offering of 15 million common shares.

Raymond James downgraded Suntech Power (NYSE: STP) to an Underperform rating. 


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 680.

Optimism that a plan to support ailing European banks will be finalized by the end of the month lifted the markets to a sharply higher close with the Dow rocketing 330 points to 11,433. Nasdaq leaped 86 points to 2566.

On the upside

Motley Fool listed Hercules Offshore (Nasdaq: HERO) as one of the top five companies that regularly topped analyst earnings estimates during the last year. 


Rex Energy (Nasdaq: REXX) named Thomas C. Stabley to the position of chief executive officer and Patrick M. McKinney as president. 


Morgan Stanley lowered its price target and earnings outlook for Sirius XM (Nasdaq: SIRI) but the stock price rose.

On the downside


Service outages for Research in Motion's (Nasdaq: RIMM) BlackBerry in Europe continued today.  

Alvarion (Nasdaq: ALVR) announced the resignation of chairman Anthony Maher.

Shares of Meru Networks (Nasdaq: MERU) fell after warning last week of wider than expected losses for the third quarter. 


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 28 points to 684.

Assurances from France and Germany to finalize a plan by the end of the month to address the debt crisis lifted the markets sharply higher during the midday with the Dow leaping 275 points to 11,378. Nasdaq surged 75 points to 2555.

On the upside

Equity Markets issued a research report on Abraxas Petroleum (Nasdaq: AXAS) . 


Cal Dive International (NYSE: DVR) reduced its credit facility to $150 million from $300 million. 


Macau reported a 13% increase in visitors from China during the Chinese national holiday week to lift shares o Melco Crown Entertainment (Nasdaq: MPEL).

On the downside


Shares of Vertex Pharmaceuticals (Nasdaq: VRTX) dropped after rival Pharmasset (Nasdaq: VRUS) expanded a mid-stage clinical trial of its hepatitis C treatment PSI-7977.  

Natus Medical (Nasdaq: BABY) disappointed with preliminary third quarter earnings that fell short of analyst expectations and cut its full year guidance.

Shares of Clearwire (Nasdaq: CLWR) continued falling after Sprint's (NYSE: S) announcement on Friday that it would no longer support Clearwire's network. 


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

The markets opened sharply higher with the Dow rocketing 278 points to 11,381 after France and Germany vowed to finalize plans to support struggling European banks. Nasdaq jumped 77 points to 2556.

On the upside

Netflix (Nasdaq: NFLX) abandoned plans to separate its DVD rental business from its video streaming business. 


Superior Energy Services (NYSE: SPN) will pay approximately $2.7 billion in cash and stock to acquire Complete Production Services (NYSE: CPX). 


Citigroup upgraded Micron Technology (Nasdaq: MU) to a Buy rating.

On the downside


Analysts downgraded Sprint (NYSE: S) and cut their price target on the company.  

The Food and Drug Administration requested additional animal studies for Insmed's (Nasdaq: INSM) pseudomonas lung infection treatment Arikace.

Hedge fund manager Martin Shkreli increased his stake in Amag Pharmaceuticals (Nasdaq: AMAG) in order to halt the company's merger with Allos Therapeutics (Nasdaq: ALTH). 


In the broad market, advancing issues outpaced decliners by a margin of 10 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 676.

Downgrades to the credit rating of Italy and Spain weighed the markets down to a lower close with the Dow falling 20 points to 11,103. Nasdaq tumbled 27 points to 2479.

On the upside

The Paragon Report issued a research report on Magnum Hunter (NYSE: MHR). 


Bargain hunters lifted shares of McDermott International (NYSE: MDR). 


Solutia will pay approximately $113 million to acquire Southwall Technologies (Nasdaq: SWTX).

On the downside


Investors locked in profits on Trina Solar (NYSE: TSL) whose shares rose yesterday after President Obama voiced support for continuing loan guarantees to clean energy firms.  

Profit takers weighed down shares of Patriot Coal (NYSE: PCX).

Shares of PerkinElmer (NYSE: PKI) fell after rival genetic analysis instrument maker Illumina (Nasdaq: ILMN) forecast disappointing third quarter revenue and withdrew its full year outlook. 


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 17 points to 656.

Fitch Ratings downgraded the debt rating for Italy and Spain to weigh the markets down during the midday with the Dow losing 17 points to 11,105. Nasdaq dropped 22 points to 2484.

On the upside

Avis Budget Group (Nasdaq: CAR) chairman, president and chief executive officer Ronald L. Nelson purchased 50,000 shares of company stock. 


Wunderlich upgraded Quantum (NYSE: QTM) to a Buy rating. 


A Michigan jury determined that IPG Photonics (Nasdaq: IPGP) did not infringe on a patent owned by IMRA America.

On the downside


Sprint (NYSE: S) will stop using Clearwire's (Nasdaq: CLWR) 4G network beginning in 2013 once the company launches its own 4G network next year.  

Shares of Agilent Technologies (NYSE: A) tumbled after fellow medical instrument maker Illumina (NYSE: ILMN) warned of an earnings shortfall.

MetroPCS (Nasdaq: PCS) will not offer tablets until LTE capable tablets increase their market share. 


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 655.

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A better than expected jobs report lifted the markets to a higher open with the Dow gaining 76 points to 11,199. Nasdaq edged up a fraction to 2507.

On the upside

ServiceSource (Nasdaq: SREV) announced preliminary third quarter revenue above previous guidance and lifted its full year outlook. 


President Obama's comment yesterday that the government should continue providing loan guarantees to clean energy companies lifted shares of Suntech Power (NYSE: STP). 


At an investor meeting, Sprint (NYSE: S) chief executive officer Dan Hesse said that Apple's (Nasdaq: AAPL) iPhone will be one of Sprint's most profitable devices.

On the downside


Illumina (Nasdaq: ILMN) reported preliminary third quarter revenue that fell short of expectations and suspended its guidance for the year prompting a downgrade.  

Regency Energy Partners (NYSE: RGP) priced its offering of 10 million common units at $20.92 per common unit.

MarketWest Energy Partners (NYSE: MWE) priced its public offering of 5 million common units at $45.52 per common unit. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 672.

Investors welcomed news that European banks will have access to emergency loans through the European Central Bank. The markets closed sharply higher with the Dow jumping 183 points to 11,123. Nasdaq surged 46 points to 2506.

On the upside

DryShips (Nasdaq: DRYS) may explore selling its majority stake in Ocean Rig (Nasdaq: ORIG). 


A drop in the 30-year fixed rate mortgage to a record low lifted shares of mortgage insurers MGIC Investment (NYSE: MTG) and Radian Group (NYSE: RDN). 


The Pentagon issued a report on the importance of rare earth metals to the military which lifted shares of Molycorp (NYSE: MCP).

On the downside


Wunderlich downgraded BPZ Resources (NYSE: BPZ) yesterday to a Hold rating.  

Shares of Apple (Nasdaq: AAPL) slipped in reaction to the death yesterday of visionary founder Steve Jobs.

Yahoo (Nasdaq: YHOO) is exploring the possible sale of its 35% stake in Yahoo Japan. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 15 points to 673.


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The markets advanced during the midday with the Dow climbing 100 points to 11,040 after the European Central Bank announced new emergency loans to support the frail economy. Nasdaq soared 32 points to 2492.

On the upside

Express Scripts (Nasdaq: ESRX) cut its earnings outlook for 2011 but the reduction was less severe than anticipated. 


Citigroup analyst Richard Gardner slashed his price target on Eastman Kodak (NYSE: EK) to $1 from $2 but he forecast a narrower loss for the year than consensus estimates. 


Bargain hunters lifted shares of ReneSola (NYSE: SOL).

On the downside


GLG Life Tech (Nasdaq: GLGL) warned that the ready-to-drink tea market in China was weaker than expected.  

Investors locked in profits on OmniVision Technologies (Nasdaq: OVTI).

Dahlman Rose downgraded Overseas Shipholding Group (NYSE: OSG) to a Sell rating. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 668.

The rate for a fixed 30-year mortgage dropped to a record low to lift the markets to a higher open with the Dow rising 52 points to 10,992. Nasdaq gained 26 points to 2486.

On the upside

OCZ Technology Group (Nasdaq: OCZ) reversed year ago losses to post a profit for the second quarter as revenue more than doubled. 


Macau gambling revenue surged 39% in September to lift shares of Melco Crown Entertainment (Nasdaq: MPEL). 


Ivanhoe Mines (NYSE: IVN), Rio Tinto and Mongolia reaffirmed their investment agreement.

On the downside


Dahlman Rose downgraded Frontline (NYSE: FRO) to a Sell rating.  

TJX (NYSE: TJX) reported a gain in September same store sales but the retailer forecast third quarter earnings below estimates.

Wet Seal (Nasdaq: WTSLA) disappointed with a 0.3% drop in September same store sales. 


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 659.

The markets advanced to close sharply higher with the Dow soaring 131 points to 10,939 as private employers added 91,000 jobs to the economy while the nation's services sector expanded in August. Nasdaq surged 55 points to 2460.

On the upside

Citigroup downgraded Yingli Green Energy (NYSE: YGE) but the stock price rose. 


Tesoro (NYSE: TSO) will expand its Mandan, North Dakota refinery to add capacity. 


Magnum Hunter (NYSE: MHR) entered a services agreement with MarkWest Liberty Midstream & Resources for its Marcellus Shale.

Rising crude oil prices lifted shares of McDermott International (NYSE: MDR).

The Paragon Report issued a research paper saying that Suntech Power (NYSE: STP) had positive long term growth potential.  

On the downside


Landec (Nasdaq: LNDC) disappointed with lower first 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 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 658.

The nation's service sector expanded in August to lift the markets higher during the midday with the Dow adding 3 points to 10,812. Nasdaq gained 15 points to 2420.

On the upside

Acquisition rumors lifted shares of BlackBerry maker Research in Motion (Nasdaq: RIMM). 


A Wall Street Journal report that the Environmental Protection Agency may allow more pollutants from power plants lifted shares of Alpha Natural Resources (NYSE: ANR), James River Coal (Nasdaq: JRCC) and Patriot Coal (NYSE: PCX). 


Star Scientific (Nasdaq: CIGX) announced the publication of a peer-reviewed article demonstrating that anatabine lowers levels of A-beta in mice.  

On the downside


Rising loan delinquencies weighed down shares of Fifth Third Bancorp (Nasdaq: FITB). 


Sirius XM Radio (Nasdaq: SIRI) will begin offering satellite radio in 2012 Subarus but the stock price dropped.

Disappointment with Apple's (Nasdaq: AAPL) latest iPhone weighed down shares of the company.

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 a point to 649.

The markets opened higher with the Dow rising 24 points to 10,833 after European officials indicated that financial assistance for Greece will most likely be provided. Nasdaq climbed 20 points to 2425.

On the upside

Level 3 Communications (Nasdaq: LVLT) completed its acquisition of Global Crossing and will eliminate hundreds of jobs to save costs. 


Alcatel-Lucent (NYSE: ALU) was listed by a Seeking Alpha contributor as a stock under $10 with the potential to double. 


Bargain hunters lifted shares of AMR (NYSE: AMR), whose stock price tumbled over bankruptcy concerns.  

On the downside


Deutsche Bank cut its price target on Acme Packet (Nasdaq: APKT) to $50 from $60 after the company forecast third quarter results below analyst expectations. 


Lufkin Industries (Nasdaq: LUFK) blamed shipment delays and materials shortages for slashing its third quarter guidance and the company forecast fourth quarter results that fell far short of analyst expectations.

Investors locked in profits on Molycorp (NYSE: MCP), whose stock price rose yesterday after announcing the development of a new rare earth deposit.

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

The markets rallied in late afternoon trading to close sharply higher with the Dow soaring 153 points to 10,809 after Federal Reserve chairman Ben Bernanke indicated that the Fed may consider additional stimulus funds. Nasdaq leaped 68 points to 2404.

On the upside

Shares of Focus Media Holding (Nasdaq: FMCN) continued climbing after raising its stock repurchase plan to $650 million. 


Wave Systems (Nasdaq: WAVX) will present at the IT security trade fair it-sa in Europe. 


Motley Fool wrote that Nvidia's (Nasdaq: NVDA) transition to providing chips for mobile computing platforms will improve profitability.  

On the downside


The federal government proposed new regulations that may lower the amount of prescription drugs given to the elderly. Shares of pharmacy services firms Omnicare (NYSE: OCR) and PharMerica (NYSE: PMC) dropped. 


InterOil (NYSE: IOC) retained the services of Morgan Stanley (NYSE: MS) and UBS (NYSE: UBS) to secure a partner to develop the LNG project in Papua New Guinea.

Windstream (Nasdaq: WIN) launched its second generation cloud platform but the stock price slipped.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 39 points to 648.

The markets traded mixed during the midday with the Dow falling 56 points to 10,599 as investors monitored a potential Greek bankruptcy. The launch of Apple's latest iPhone lifted technology stocks with Nasdaq climbing 34 points to 2370.

On the upside

Bargain hunters lifted shares of Patriot Coal (NYSE: PCX), whose stock price dropped last week. 


The Food and Drug Administration granted Transcept Pharmaceuticals (Nasdaq: TSPT) a shorter review period for its insomnia treatment Intermezzo. 


Polycom (Nasdaq: PLCM) introduced its new Soundstation Duo conference phone that works with analog networks as well as Voice over IP environments.  

On the downside


Shares of Gentiva Health (Nasdaq: GTIV) and Amedisys (NYSE: AMED) continued falling after a Senate panel found that the home health care companies provided medically unnecessary treatment to Medicare patients. 


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

Shares of AT&T (NYSE: T) fell on reports that Sprint (NYSE: S) will offer Apple's (Nasdaq: AAPL) iPhone.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE while advancers edged out decliners by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 12 points to 621.

Without additional bailout funds, Greece will be bankrupt in mid-November. The markets opened sharply lower with the Dow plummeting 194 points to 10,460 while Nasdaq tumbled 16 points to 2319.

On the upside

Capstone Investments upgraded American Airlines parent AMR (NYSE: AMR) to a Buy rating while Rodman & Renshaw upgraded the airliner to Market Outperform. 


Molycorp (NYSE: MCP) will announce results of a new rare earth deposit at its Mountain Pass mines in California. 


MicroStockProfit.com issued a research report on Eastman Kodak (NYSE: EK) which denied bankruptcy rumors late Friday.  

On the downside


Anworth Mortgage (NYSE: ANH) will repurchase up to 2 million shares of common stock. 


Kodiak Oil & Gas (NYSE: KOG) will pay approximately $235 million in cash to acquire properties in North Dakota from BTA Oil Producers.

DryShips (Nasdaq: DRYS) adjusted downward the conversion price of its convertible notes.

In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 607.

Greece warned that reductions to its budget deficit will fall short of previously agreed levels with the European Union sending the markets tumbling to a sharply lower close with the Dow collapsing 258 points to 10,655.  Nasdaq plummeted 79 points to 2335.

On the upside

Emergent BioSolutions (NYSE: EBS) received an order for 44.8 million doses of its anthrax vaccine BioThrax. 


On the downside


Popular (Nasdaq: BPOP) declared a monthly dividend on several series of preferred stock payable on October 31 to shareholders of record October 15 but the stock price fell.  

Concerns persist that Cemex (NYSE: CX) may default on its debt. 


Westinghouse Solar switched suppliers from Suntech Power Holdings (NYSE: STP) to  less expensive Lightway and expects to post a profit next year. 


OfficeMax (NYSE: OMX) partnered with Google (Nasdaq: GOOG) to offer checkout terminals at more than 100 locations allowing customers to pay with Google Wallet but the stock price dropped.

Magnum Hunter (NYSE: MHR) announced a significantly higher daily production exit rate for the third quarter but the stock price dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by nearly 10 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 34 points to 609.

Markets Mixed At Midday

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The markets traded mixed during the midday with the Dow rising 10 points to 10,923 as manufacturing activity expanded in September.  Nasdaq lost 4 points to 2410.

On the upside

The settlement of a patent infringement suit filed by The Medicines Co. (Nasdaq: MDCO) against Teva Pharmaceutical (Nasdaq: TEVA) will allow Teva to begin making a generic version of The Medicines' anticlotting drug Angiomax in 2019. 


Wolverine Worldwide (NYSE: WWW) reported higher third quarter earnings that beat analyst expectations.

ABC News (NYSE: DIS) partnered with Yahoo (Nasdaq: YHOO) to deliver digital news to 100 million people. 


On the downside


Demand growth for international air travel slowed in August to weigh down shares of American Airlines parent AMR (NYSE: AMR).  

Century Aluminum (Nasdsaq: CENX) will announced third quarter earnings after market close on Tuesday, October 25, 2011. 


Forbes said that Whiting Petroleum (NYSE: WLL) was oversold.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 642.

The markets opened lower with the Dow losing 21 points to 10,891 as construction spending rose modestly in August but remained below healthy levels for a strong economy.  Nasdaq slipped 3 points to 2411.

On the upside

The Carlyle Group and Hellman & Friedman LP will take Pharmaceutical Production Development (Nasdaq: PPDI) private in an all cash deal valued at approximately $3.79 billion. 


Focus Media Holding (Nasdaq: FMCN) increased its share repurchase plan to $650 million and affirmed its outlook for the third quarter.

Wells Fargo analyst Matthew Burnell said that Morgan Stanley's (NYSE: MS) credit exposure was below its peers. 


On the downside


Sangamo BioSciences (Nasdaq: SGMO) halted development of its diabetic neuropathy treatment SB-509 after it failed a Phase 2b clinical trial.  

Nomura cut its price target for Alcatel-Lucent (NYSE: ALU).


Arch Coal (NYSE: ACI) blamed production problems at a mine in West Virginia for lowering its outlook.

In the broad market, declining issues outpaced advancers by a margin of 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 646.

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