December 2011 Archives

Lower Close With Europe Mired In Debt

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The markets ended the year flat with Europe mired in debt and the domestic job market just beginning to show some signs of recovery. The Dow fell 69 points to close the year at 12,217 while Nasdaq lost 8 points to 2605.

On the upside

Lexicon Pharmaceuticals (Nasdaq: LXRX) completed a rights offering that generated proceeds of approximately $161 million.  


Piper Jaffray initiated coverage of Frontier Communications (NYSE: FTR) with a Neutral rating. 

A Seeking Alpha contributor listed RAM Energy Resources (Nasdaq: RAM) as one of four frequently traded stocks with a return on equity of more than 50%.

On the downside


A faulty battery by A123 Systems (Nasdaq: AONE) prompted Fisker Automotive to recall 239 Karma electric sports cars. 


Jordan Opportunity Fund portfolio manager Jerry Jordan has a favorable view of regional bank Fifth Third Bancorp (Nasdaq: FTB) but the stock price fell. 

  

Chesapeake Energy (NYSE: CHK) failed to complete a $2.14 billion joint venture by mid-December as stated in the letter of intent.

In the broad market, declining issues outpaced advancers 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 lost 4 points to 740.

The markets slipped during the midday with the Dow losing 35 points to 12,251 on a quiet trading day after many European markets ended the year lower. Nasdaq added a point to 2614.

On the upside

J.P. Morgan said that Leap Wireless (Nasdaq: LEAP) and MetroPCS (NYSE: PCS) may be potential acquisition targets for AT&T (NYSE: T).  


Radian Group (NYSE: RDN) replaced the severance agreement that subsidiary Radian Guaranty president Teresa Bryce Bazemore had with one that is in alignment with arrangements for other executive officers. 

StreetAuthority listed HCA Holdings (NYSE: HCA) as a recently public company whose current stock price is now at least 25% below its offering price that will rebound in 2012.

On the downside


Federal District Court Judge Jed S. Rakokk said that both the Securities and Exchange Commission as well as Citigroup (NYSE: C) mislead the court in the SEC's fraud case against Citigroup. 


Sharply lower natural gas prices weighed down shares of Exxon Mobil (NYSE: XOM). 

  

Chinese ethanol producers launched an investigation into distiller's dried grains exports by Pacific Ethanol (Nasdaq: PEIX) and other U. S. ethanol companies.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 745.

The markets opened lower on the last trading day of the year with the Dow slipping 11 points to 12,275 as global economic concerns weighed down investor sentiment. Nasdaq eased a point to 2612.

On the upside

Invensas paid $35 million in cash to acquire a total of 73 patents from MoSys (Nasdaq: MOSY).  


Rebounding silver prices lifted shares of Endeavour Silver (NYSE: EXK) and Silver Wheaton (NYSE: SLW). 

Research in Motion's (Nasdaq: RIMM) market share dropped in the quarter that ended in November from 19.7% to 16.6% but the stock price rose.

On the downside


Delcath Systems (Nasdaq: DCTH) may sell up to $39.8 million worth of common stock. 


DryShips' (Nasdaq: DRYS) stock price plunged more than 63% in 2011. 

  

Verizon Wireless (NYSE: VZ) will begin charging customers a $2 convenience fee for every payment made online or by telephone beginning January 15, 2012.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while decliners edged out advancers by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 744.

Upbeat Economic Data Boosts Markets

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Upbeat jobs and housing data boosted the markets to a sharply higher close with the Dow surging 135 points to 12,287. Nasdaq climbed 23 points to 2613.

On the upside

Motley Fool wrote that 2012 will be make-it year for Cell Therapeutics (Nasdaq: CTIC).   


Ivanhoe Energy (Nasdaq: IVAN) produced a video that explains its proprietary heavy oil upgrading process. 

A jump in pending home sales lifted shares of KB Home (NYSE: KBH), Beazer Homes (NYSE: BZH) and Masco (NYSE: MAS).

On the downside


Sequans Communications (NYSE: SQNS) will release fourth quarter results on Thursday, February 9, 2012 before market open. 


A Seeking Alpha contributor wrote yesterday that StoneMor Partners' (NYSE: STON) distributions were unsustainable.


China Sky One Medical (Nasdaq: CSKI) announced the resignation of chief financial officer and treasurer Pan Hong-yu.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 744.

Pending home sales climbed in November to lift the markets higher during the midday with the Dow soaring 115 points to 12,266. Nasdaq gained 19 points to 2609.

On the upside

VisionChina Media (Nasdaq: VISN) shareholders approved the appointment of Deloitte Touche Tohmatsu to be the company's independent auditor.   


CNBC reported that David Einhorn of Greenlight Capital may have acquired a stake in Diamond Foods (Nasdaq: DMND). 

PulteGroup (NYSE: PHM) sold land in Colorado to Wheelock Street Capital.

On the downside


Oceanic Investment Management added a $2 million position in Frontline (NYSE: FRO) but the stock price dropped. 


Investors locked in profits on Endeavour International (NYSE: END), whose stock price rose yesterday after an analyst upgrade.


Chesapeake Midstream Partners (NYSE: CHKM) will pay approximately $865 million to acquire Chesapeake Midstream Development, a subsidiary of Chesapeake Energy (NYSE: CHK).


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 742.

While first time applications for unemployment benefits rose last week, the four week moving average fell to a two and a half year low. The market opened higher with the Dow climbing 91 points to 12,243. Nasdaq rose 7 points to 2597.

On the upside

Fushi Copperweld (Nasdaq: FSIN) received a revised offer from chairman and co-chief executive Li Fu and Abax Global Capital to take the company private for $9.50 per share in cash.   


JA Solar (Nasdaq: JASO) will supply Solarhybrid with 19 megawatts of solar modules for its Allstedt I solar power plant. 

A Seeking Alpha contributor wrote on Tuesday that Pacific Ethanol (Nasdaq: PEIX) was one of six stocks under $10 that was poised to double in 2012.

On the downside


Mosaic (NYSE: MOS) blamed soft demand for lowering its phosphate output by up to 250,000 tons. 


Silver and gold prices continued falling to weigh down shares of Hecla Mining (NYSE: HL), Kinross Gold (NYSE: KGC) and Silver Wheaton (NYSE: SLW).


Goldman Sachs issued a research note warning that Amazon's (Nasdaq: AMZN) sales growth in the current holiday quarter may fall short of analyst expectations.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 740.

Rather than lending each other money, European banks deposited a record $590.72 billion overnight with the European Central Bank raising concerns of economic stagnation. The market closed sharply lower with the Dow plummeting 139 points to 12,151. Nasdaq plunged 35 points to 2589.

On the upside

TheStreet listed Zogenix (Nasdaq: ZGNX) as one of five stocks that is ready to breakout.   


Delcath Systems' (Nasdaq: DCTH) Ireland site achieved the internationally recognized quality standard of ISO 13485:2003. 

Investors snapped up shares of USEC (Nasdaq: USU), whose stock price has plunged nearly 79% in 2011.

On the downside


Zagg (Nasdaq: ZAGG) chief executive Robert G. Pedersen II sold approximately $2.5 million worth of company stock while beneficial owner Scott H. Huskinson sold more than  $6.9 million worth of stock. 


Falling gold and silver prices weighed down shares of Hecla Mining (NYSE: HL).


Motley Fool wrote that GMX Resources (NYSE: GMXR) performed poorly in 2011.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 16 points to 735.

Euro Falls, Markets Open Lower

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The falling euro weighed the markets down to a lower open with the Dow tumbling 84 points to 12,206. Nasdaq dropped 24 points to 2600.

On the upside

Hyperdynamics (NYSE: HDY) resumed drilling offshore the Republic of Guinea at its Sabu-1 exploration well.   


Rodman & Renshaw upgraded Endeavour International (NYSE: END) to an Outperform rating after the oil and gas company acquired Central North Sea oil fields from ConocoPhillips. 

Arctic Cat (Nasdaq: ACAT) will repurchase 6.1 million shares of class B stock from Suzuki Motor.

On the downside


J.P. Morgan lowered its earnings guidance and price target on Molycorp (Nasdaq: MCP). 


Northland Securities cited valuation concerns for downgrading Kodiak Oil & Gas (NYSE: KOG).


The New York Times listed Research in Motion (Nasdaq: RIMM) chief executive Mike Lazaridis as one of the worst CEOs of 2011.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 744.

Initial enthusiasm about high consumer confidence in December gave way to profit-takers.  The Dow closed the session down 2 points to 12,291.  Nasdaq held on to its gain rising 6 points to 2625.

On the upside

Endeavor International (NYSE: END) announced plans to acquire three North Sea fields from ConocoPhillips  (NYSE: COP) for $330 million.


Shares of Scientific Games (Nasdaq: SGMS) surged on hopes that a U.S. Department of Justice opinion may open the way for more online gambling opportunities.


Shares of Research in Motion (Nasdaq: RIMM) continued to rise in hopes of a possible takeover of the marker of the still-popular Blackberry smartphone.


Shares of Parlux Fagrances (Nasdaq: PARL) nearly doubled after it agreed to be acquired by Perfumania (Nasdaq: PERF) in a stock and cash deal valued at $170 million.  


On the downside


Shares of Walgreen (NYSE: WAG) continued to lag after recent news of baby formula being pulled from its shelves despite reports that no infection-causing bacteria was found.


Gold prices rose sharply, but shares of Novagold Resources (AMEX: NG) bucked the trend.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners narrowly edged out advancers on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to close at 751.



Consumer confidence climbed in December to lift the markets to a modestly higher open with the Dow rising 19 points to 12,313. Nasdaq added 5 points to 2624.

On the upside

A new round of rigorous testing by Mead Johnson Nutrition (NYSE: MJN) on its Enfamil Premium newborn formula revealed no presence of the bacteria Cronobacter.   


Ventas (NYSE: VTR) will acquire Cogdell Spencer (NYSE: CSA) in an all cash deal valued at approximately $760 million including the assumption of debt. 

Magnum Hunter (NYSE: MHR) lifted its production guidance for 2011 and 2012.

On the downside


Sears Holdings (Nasdaq: SHLD) will close between 100 to 120 stores. 


Computer Sciences (NYSE: CSC) must recognize an impairment charge in the third quarter of up to $1.5 billion.


Sidoti downgraded Whirlpool (NYSE: WHR) to a Neutral rating.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 747.

U. S. Markets Closed

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U. S. Markets are closed in observance of Christmas.

Investors embraced Congress' extension of the payroll tax cut by sending the markets soaring to a sharply higher close with the Dow leaping 124 points to 12,294. Nasdaq gained 19 points to 2618.

On the upside

Macau experienced a 20.1% year-over-year increase in November visitors lifting shares of casino operator MGM Resorts (NYSE: MGM).   


A gain in November new home sales lifted shares of private mortgage insurer Radian Group (Nasdaq: RDN). 

North American Energy Partners (NYSE: NOA) will resume overburden operations at Canadian Natural Resources' Horizon Mine on January 2, 2012.

On the downside


TheStreet listed Dynegy (Nasdaq: DYN) as one of eight stocks to avoid that are under $10. 


The Arizona Department of Corrections cancelled plans to build a 5,000 bed private prison. Corrections Corporation of America (NYSE: CXW) had submitted a proposal for the project.


Shares of KB Home (NYSE: KBH) continued falling after reporting lower fourth quarter earnings on Wednesday.


In the broad market, advancing issues outpaced decliners 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 added 2 points to 747.

Rise In New Home Sales Lifts Markets

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Sales of new homes rose 1.6% in November to lift the markets higher during the midday with the Dow climbing 91 points to 12,261. Nasdaq rose 13 points to 2613.

On the upside

Citigroup lifted its price target on Chico's FAS (NYSE: CHS) to $12 from $11.   


RAM Energy (Nasdaq: RAME) continued climbing after announcing a $550 million investment from Halcon Resources and that former Petrohawk Energy chief executive Floyd Wilson will become RAM's next chief executive. 

Rumors circulated that Digital Sky Technologies invested in Sina (Nasdsaq: SINA).

On the downside


Bloomber reported that Allot Communications (Nasdaq: ALLT) sold networking equipment to a distributor who shipped the products to Iran. 


Shares of CPI (NYSE: CPH) continued falling after reporting lower third quarter revenue yesterday.


PHH (Nasdaq: PHH) extended its losses after Standard & Poor's lowered the company's credit rating on Wednesday.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 747.

Modest gains in consumer spending and personal incomes lifted the markets to a higher open with the Dow gaining 46 points to 12,216. Nasdaq added 3 points to 2602.

On the upside

Shares of SandRidge Energy (NYSE: SD) continued climbing after announcing a $1 billion joint venture with Repsol YPF at its Extension Mississippian play and at its Original Mississippian play in western Kansas.   


Rambus (Nasdaq: RMBS) finalized a patent license agreement allowing Broadcom (Nasdaq: BRCM) to use its technology in integrated circuit products for five years. 

SunPower (NYSE: SPWR) will acquire French solar energy system company Tenesol for $165.4 million in cash.

On the downside


Shares of Mead Johnson Nutrition (NYSE: MJN) continued falling after Wal-Mart (NYSE: WMT) pulled the company's Enfamil baby formula from its shelves yesterday. 


United Continental (NYSE: UAL) expects its capacity to drop by 4.8% in the fourth quarter.


Shutterfly (Nasdaq: SFLY) lowered its fourth quarter revenue guidance.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE while decliners edged out advancers by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 744.

The markets closed higher with the Dow climbing 61 points to 12,169 as investors embraced upbeat economic data. Nasdaq gained 21 points to 2599.

On the upside

SandRidge Energy (NYSE: SD) entered a $1 billion joint venture with Repsol YPF at its Extension Mississippian play and at its Original Mississippian play.   


Advanced Micro Devices (NYSE: AMD) introduced its AMD Radeon HD 7970 graphics card, the world's fastest single-GPU graphics card. 

Shares e-Commerce China Dangdang (NYSE: DANG) rose after launching its e-book platform yesterday.

On the downside


CPI (NYSE: CPY) narrowed third quarter losses but revenue dropped. 


Stifel Nicolaus downgrade KB Home (NYSE: KBH) from a Buy rating to a Hold rating.


Shares of TripAdvisor (Nasdaq: TRIP) continued falling after splitting from Expedia yesterday.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 745.

Jobless Claims Drop, Markets Rise

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First time applications for unemployment benefits dropped to a more than three and a half year low to lift the markets higher during the midday with the Dow gaining 41 points to 12,149. Nasdaq climbed 16 points to 2594.

On the upside

WCA Waste (Nasdaq: WCAA) agreed to be acquired by Macquarie Infrastructure Partners II.   


BMO Capital Markets analyst Tim Long upgraded Juniper Networks (NYSE: JNPR) to an Outperform rating and lifted his price target from $22 to $25. 

A Seeking Alpha contributor wrote that Citigroup (NYSE: C) was more undervalued than Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS).

On the downside


Walmart (NYSE: WMT) pulled Mead Johnson's (NYSE: MJN) Enfamil infant formula from its stores after an infant died. 


Alaska Communications (Nasdaq: ALSK) slashed its quarterly dividend.


Standard & Poor's downgraded PHH's (NYSE: PHH) long-term issuer credit rating to BB-.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which 

A greater than expected increase in December consumer sentiment lifted the markets to a higher open with the Dow rising 42 points to 12,150. Nasdaq gained 13 points to 2591.

On the upside

RAM Energy Resources (Nasdaq: RAM) regained compliance with Nasdaq's minimum price listing requirements and announced a $550 million capital investment from Halcon Resources.   


Micron Technology (Nasdaq: MU) swung to a wider than expected loss for the first quarter but the stock price rose. 

Akamai Technologies (Nasdaq: AKAM) will pay approximately $268 million in cash to acquire cloud services provider Contendo.

On the downside


Vivus (Nasdaq: VVUS) reported a link between one of the ingredients in its weight loss treatment Qnexa and an increased risk of cleft lip or cleft palate. 


Bed Bath & Beyond (Nasdaq: BBBY) reported higher third quarter earnings but revenue fell short of expectations.


American Greetings (NYSE: AM) disappointed with sharply lower third quarter earnings as expenses climbed.


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 climbed 6 points to 746.

The markets closed mixed with the Dow adding 4 points to 12,107 as congressional deadlock on payroll tax extensions continued. Nasdaq dropped 25 points to 2577.

On the upside

Exane BNP Paribas upgraded Lloyds Banking (NYSE: LYG) to an Outperform rating.   


Actuant (NYSE: ATU) reported sharply higher first quarter earnings that surpassed analyst expectations as revenue climbed. 

FSI International (Nasdaq: FSII) widened first quarter losses but the company forecast current quarter results ahead of estimates.

On the downside


Standard & Poor's upgraded Red Hat's (NYSE: RHT) credit rating to BBB- from BB+ but the stock price dropped. 


Enterprise software firm SAP (NYSE: SAP) tumbled in response to Oracle's (Nasdaq: ORCL) earnings miss.


E-Commerce China Dangdang (NYSE: DANG) launched its e-book platform but the stock price dropped.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 740.

The markets extended its losses during the midday with the Dow falling 66 points to 12,036 in reaction to Oracle's disappointing earnings miss. Nasdaq plunged 49 points to 2554.

On the upside

Goldman Sachs lifted its price target on Cobalt International Energy (NYSE: CIE) from $14 per share to $21 per share and added the oil exploration and production company to its Americas Buy List.   


Cintas (Nasdaq: CTAS) reported higher second quarter earnings that beat analyst expectations as revenue climbed. 

The Shaw Group (NYSE: SHAW) reversed year ago losses to post a better than expected profit for first quarter.

On the downside


Oracle's (Nasdaq: ORCL) earnings miss weighed down shares of business software firms Salesforce.com (NYSE: CRM), Teradata (NYSE: TDC), Tibco Software (Nasdaq: TIBX) and Vmware (NYSE: VMW). 


CarMax (NYSE: KMX) reported flat third quarter earnings that fell short of analyst estimates.


KB Home (NYSE: KBH) reported lower fourth quarter earnings.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 731.

Disappointing earnings weighed the markets down to a lower open with the Dow losing 16 points to 12,086. Nasdaq dropped 33 points to 2570.

On the upside

Tokio Marine Holdings will acquire Delphi Financial (NYSE: DFG) in a deal valued at approximately $2.7 billion.   


Research in Motion (Nasdaq: RIMM) was reportedly the target of a possible acquisition by Amazon and a joint bid by Microsoft and Nokia. 

Clearwire (Nasdaq: CLWR) may be targeted for acquisition by AT&T (NYSE: T) after AT&T abandoned its bid for T-Mobile.

On the downside


Oracle (Nasdaq: ORCL) reported higher second quarter earnings but the results fell short of analyst expectations. 


Walgreen (NYSE: WAG) blamed a slow start to the cold and flu season and a contract dispute with Express Scripts for lower first quarter earnings that missed expectations.


Analysts lowered their price target on Emerson Electric (NYSE: EMR).


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 734.

The Commerce Department announced that 685,000 new homes were constructed last month, a 9.3 percent increase from October.  Meanwhile, confidence in Germany and Spain inspired investors to buy into the rally.  The Dow finished the session up 337 points to 12,103 while Nasdaq leaped 80 points to close at 2603.

On the upside

PulteGroup (NYSE: PHM) and D.R. Horton (NYSE: DHI) led the rally among home builders as investors hoped that the industry may have finally turned the corner.


Banking stocks also joined the rally with shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and JP Morgan Chase (NYSE: JPM) all closing in positive territory.


Nike (NYSE: NKE) posted sharply higher revenues as well as profits that overcame increased costs.


On the downside


The software sector failed to keep up with the rest of the markets.  Shares of Red Hat (NYSE: RHT) issued a revenue forecast that missed analysts' estimates.


Shares of Oracle (Nasdaq: ORCL) lost ground afterhours after posting 2nd quarter results that missed expectations.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 29 points to 738.

Strong economic data from Germany and an appetite for Spanish debt fueled a rally with the Dow surged 250 points to 12,016. Nasdaq leaped 60 points to 2583.

On the upside

Share of AT&T (NYSE: T) rose after calling off a possible acquisition for T-Mobile due to its inability to overcome antitrust concerns.


TransCanada Corp. (NYSE: TRP) announced an agreement to pay $470 million for 86 megawatt of solar power projects in Ontario from a unit of panel maker Canadian Solar Inc. (Nasdaq: CSIQ).


Cobalt International Energy (NYSE: CIE) entered into another offshore drilling contract in West Africa.


Shares of Apple (Nasdaq: AAPL)  rose sharply after the U.S. International Trade Commission ruled  against HTC in a patent-infringement case involving smart phone technology.


On the downside


Targacept (Nasdq: TRGT) announced disappointing results for its depression drug Phase 3 trials.


Shares of Research in Motion (Nasdaq: RIMM) traded at multi-year lows as investors continued to worry about plummeting sales and product launch delays.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 20 points to 729.

European finance ministers failed to raise 200 billion euros for the bailout fund sending the markets tumbling in late afternoon trading with the Dow dropping 100 points to 11,766. Nasdaq plunged 32 points to 2523.

On the upside

Towerstream (Nasdaq: TWER) climbed after announcing a partnership with Skype last week.   


Motley Fool wrote that Elan (NYSE: ELN) turned itself around in 2011. 

The Oxen Group slashed their price target on LDK Solar (Nasdaq: LDK) from $15.50 to $6 but the stock price rose.

On the downside


A drop in domestic box office receipts and movie attendance weighed down shares of  multi-screen theatre operator Regal Entertainment (NYSE: RGC). 


Investors locked in profits on Frontline (NYSE: FRO), whose stock price climbed on Friday after announcing a $285 million capital raise. 


Reports that Apple (Nasdaq: AAPL) plans to purchase solid-state storage company Anobit sent shares of OCZ Technology (Nasdaq: OCZ) lower.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 708.

The markets turned negative during the midday with the Dow falling 49 points to 11,816 as uncertainty surrounded the death and succession of North Korean dictator Kim Jong Il. Nasdaq dropped 11 points to 2544.

On the upside

Analysts lifted their price target on Gilead Sciences (Nasdaq: GILD).   


Shares of Pfizer (NYSE: PFE) continued rising after the pharmaceutical declared a quarterly dividend and announced a stock repurchase plan last week. 

Canaccord said that the sell-off of Inhibitex (Nasdaq: INHX) on Friday offered investors a buying opportunity.

On the downside


TheStreet listed U. S. Steel (NYSE: X) as one of the ten worst performing S&P 500 stocks of 2011. 


Mechel OAO (NYSE: MTL) launched its first line, the blooming concaster #5, which will supply the universal rolling mill with billets but the stock price fell. 


Vistaprint (Nasdaq: VPRT) will pay approximately $117.5 million in cash and stock to acquire Webs.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 717.

A gain in homebuilder sentiment lifted the markets to a higher open with the Dow rising 44 points to 11,911. Nasdaq gained 11 points to 2566.

On the upside

Grocery store chain Bi-Lo will pay approximately $560 million to acquire rival Winn-Dixie Stores (Nasdaq: WINN).   


Reports that China may increase restrictions on rare earth metal exports lifted shares of Molycorp (NYSE: MCP). 

Zalicus (Nasdaq: ZLCS) initiated a Phase 1 clinical trial of its Z944 oral T-type calcium channel blocker to treat acute and inflammatory pain.

On the downside


Eldorado Gold (Nasdaq: EGO) will acquire European Goldfields in a cash and stock deal valued at approximately $2.4 billion. 


KeyBanc Capital Markets analyst Scott Hamann cut his price target on Jakks Pacific (Nasdaq: JAKK) after the toymaker slashed its full year earnings guidance on Friday. 


Capstone Turbine (Nasdaq: CPST) received orders for 4.2 megawatts but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 726.

Fitch affirmed the AAA credit rating of France but warned that six other European nations may be downgraded. The markets closed mixed with the Dow slipping 2 points to 11,866 while Nasdaq gained 14 points to 2555.

On the upside

Cobalt International (NYSE: CIE) extended its lease on Diamond Offshore Drilling's Ocean Confidence rig to continue drilling in waters off the coast of Angola.   


Frontline (NYSE: FRO) raised $285 million to finance its restructuring plan. 

Dahlman Rose upgraded Basic Energy Services (NYSE: BAS) to a Buy rating.

On the downside


Quantum Fuel Systems Technologies Worldwide (Nasdaq: QTWW) priced its public offering of more than 10.5 million units at $0.95 per unit. 


Nevada sued Lender Processing Services (NYSE: LPS) for engaging in fraudulent and deceptive practices. 


Takeda Pharmaceutical declined the opportunity to commercialize Affymax's (Nasdaq: AFFY) anemia treatment peginesatide in Japan.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 722.

The markets traded mixed during the midday with the Dow losing 6 points to 11,862 after Fitch affirmed France's credit rating but warned six European nations that they may be downgraded. Nasdaq gained 15 point to 2556.

On the upside

Valeant Pharmaceuticals (NYSE: VRX) made a $314 million hostile bid for Ista Pharmaceuticals (Nasdaq: ISTA).   


Vertex Pharmaceuticals (Nasdaq: VRTX) named Jeffrey Leiden to replace Matthew Emmens as chief executive after Emmens retires on February 1, 2012. 

Quiksilver (NYSE: ZQK) swung to a profit for the fourth quarter as revenue climbed to top analyst estimates.

On the downside


Accenture (NYSE: ACN) reported higher first quarter earnings that topped analyst estimates but the management consulting firm forecast 2012 results below expectations. 


StemCells (Nasdaq: STEM) will sell 8 million units and 8 million warrants to raise up to $20 million. 


Shares of InterMune (Nasdaq: ITMN) continued falling after a German regulatory agency said yesterday that the biopharmaceutical's lung disease treatment Esbriet provided no additional benefits to patients.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 720.

The markets opened higher with the Dow gaining 85 points to 11,954 as investors monitored the European debt crisis. Nasdaq climbed 39 point to 2580.

On the upside

United Rentals (NYSE: URI) will pay approximately $1.9 billion in cash and stock to acquire rival RSC Holdings (NYSE: RRR).   


Tilman Fertitta, owner of Landry's Group, will pay approximately $116.6 million in cash to acquire Morton's Restaurant Group (NYSE: MRT). 

Fourth quarter earnings fell for Adobe Systems (Nasdaq: ADBE) but the results beat analyst expectations and revenue rose.

On the downside


Pharmasset's (Nasdaq: VRUS) plan to amend the drug trial of its hepatitis C treatment PSI-938 weighed down shares of rival hepatitis C treatment developer Inhibitex (Nasdaq: INHX). 


Research in Motion (Nasdaq: RIMM) reported sharply lower third quarter earnings and warned that BlackBerry shipments in the fourth quarter will drop prompting downgrades. 


Cablevision Systems (NYSE: CVC) chief operating officer Tom Rutledge announced his resignation effective at the end of the month.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 729.

Falling Jobless Claims Lifts Markets

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Falling jobless claims lifted the markets to a modestly higher close with the Dow rising 45 points to 11,868. Nasdaq edged up a point to 2541.

On the upside

Acadia Healthcare (Nasdaq: ACHC) priced its public offering of more than 8 million common shares at $7.50 per share.   


Russian Standard will increase its stake in Central European Distribution (Nasdaq: CEDC) from approximately 9.9% to 30%. 

Shares of Newcastle Investment (NYSE: NCT) continued rising after announcing a mortgage servicing rights deal with Nationstar Mortgage late Tuesday.

On the downside


Germany's Institute for Quality and Efficiency in Health Care said that InterMune's (Nasdaq: ITMN) lung disease treatment Esbriet provided little to no additional benefit to patients. 


Athenahealth (Nasdaq: ATHN) forecast 2012 results well below analyst expectations. 


Shares of Penn Virginia (NYSE: PVA) continued falling after slashing its fourth quarter production guidance on Tuesday.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 716.

Drop In Mortgage Rate Lifts Markets

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Mortgage rates dropped to record lows to boost the markets during the midday with the Dow gaining 83 points to 11,907. Nasdaq added 8 points to 2547.

On the upside

Rite Aid (NYSE: RAD) narrowed third quarter losses as revenue climbed.   


Delta Air Lines (NYSE: DAL) said yesterday at its 2011 Investor Day conference that 2011 earnings are expected to be $800 million. 

The Centers for Medicare and Medicais Services reaffirmed its coverage of ZOLL Medical's (Nasdaq: ZOLL) LifeVest Wearable Defibrillator.

On the downside


Sterne Agee downgraded Deckers Outdoor (Nasdaq: DECK) to an Underperform rating. 


The impending expiration of ethanol subsidies at the end of the year weighed down shares of Pacific Ethanol (Nasdaq: PEIX). 


VeriFone Systems (NYSE: PAY) reported sharply higher fourth quarter earnings as revenue soared but the electronic payment systems company forecast current quarter results below estimates.


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 8 points to 716.

First time applications for jobless claims dropped to a 3 1/2 year low lifting the markets to a higher open with the Dow climbing 74 points to 11,898. Nasdaq rose 6 points to 2545.

On the upside

Lam Research (Nasdaq: LRCX) will pay approximately $3.3 billion in stock to acquire rival Novellus Systems (Nasdaq: NVLS).   


Ultrasound system company SonoSite (Nasdaq: SONO) agree to be acquired by Fujifilm Holdings in a deal valued at approximately $995 million including the assumption of debt. 

Second quarter earnings nearly doubled for Fed Ex (NYSE: FDX) as online holiday shopping increased.

On the downside


Analysts downgraded BioSante Pharmaceuticals (Nasdaq: BPAX) after the company reported that its LibiGel female sexual dysfunction drug failed two late stage clinical trials. 


Hecla Mining (NYSE: HL) rescued seven miners from the Lucky Friday silver mine in  northern Idaho after a rock burst. 


Shares of Green Mountain Coffee Roasters (NYSE: GMCR) continued falling after Stifel Nicolaus analyst Mark Astrachan cited slowing sales of the Keurig brewer for maintaining a Sell rating on the company yesterday.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 713.

European Debt Concerns Sink Stocks

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European debt concerns continued to plague the markets with the Dow plummeting 131 points to 11,823. Nasdaq plunged 39 points to 2539.

On the upside

The Food and Drug Administration approved a supplemental new drug application for ViroPharma's (Nasdaq: VPHM) Vancocin.   


Medicare Administrative Contractor Palmetto will begging reimbursing for TranS1's (Nasdaq: TSON) AxiaLIF beginning on January 1, 2012. 

Endeavour International (NYSE: END) has terminated agreements to acquire Marcellus Shale assets from SM Energy (NYSE: SM).

On the downside


BioSante Pharmaceuticals (Nasdaq: BPAX) reported that its LibiGel failed two Phase III clinical trials. 


Shares of Terex (NYSE: TEX) continued to fall after a jury ruled against the company last week in a patent infringement suit. 

  

Sequans Communications (NYSE: SQNS) slashed its fourth quarter revenue guidance and forecast a wider loss.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 708.

Falling Euro Drags Down Markets

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The markets extended its loses during the midday with the Dow plunging 134 points to 11,820 as the euro fell and Italian bond yields climbed. Nasdaq tumbled 40 points to 2538.

On the upside

The Progressive Group (NYSE: PGR) reported higher November income as the number of premiums written rose.   


Eon Communications (Nasdaq: EONC) reversed year ago losses to post a profit for the first quarter as revenue increased. 

Delta Air Lines (NYSE: DAL) and US Airways (NYSE: LCC) closed their takeoff and landing slot rights swap to increase US Airways' presence at Reagan National Airport while Delta expanded flights to LaGuardia Airport.

On the downside


Silicon Graphics International (Nasdaq: SGI) announced the resignation of president and chief executive Mark J. Barrenechea effective January 1, 2011. 


HyperDynamics (NYSE: HDY) reported that mechanical and operational issues have delayed drilling at its Sabu-1 exploration well off the coast of the Republic of Guinea. 

  

FBN Securities initiated coverage of Fusion-io (NYSE: FIO) with a Sector Perform rating.

In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 709.

Continued concerns about the European debt crisis weighed the markets down to a lower open with the Dow dropping 67 points to 11,887. Nasdaq fell 31 points to 2579.

On the upside

Broadcom (Nasdaq: BRCM) lifted its fourth quarter revenue guidance.   


Analysts upgraded Avon Products (NYSE: AVP) after the cosmetics company announced a search for a new chief executive to replace Andrea Jung, who will remain as chairman. 

Delta Air Lines (NYSE: DAL) forecast 2011 earnings above analyst estimates.

On the downside


First Solar (Nasdaq: FSLR) blamed weather delays for slashing its 2011 earnings and revenue forecast. 


Shares of Green Mountain Coffee Roasters (Nasdaq: GMCR) continued falling over concerns that its single serve K-cup business was losing market share. 

  

Joy Global (NYSE: JOY) reported higher fourth quarter earnings but warned that future production will increase at a more tempered pace.

In the broad market, declining issues outpaced advancers 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 dropped 8 points to 709.

Fed Fails To Act, Markets Close Lower

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The markets turned negative in late afternoon trading with the Dow falling 66 points to 11,954 over disappointment that the Federal Reserve failed to offer additional economic stimulus measures. Nasdaq tumbled 32 points to 2579.

On the upside

LiveDeal (Nasdaq: LIVE) raised $2 million through the sale more than 1.6 million common shares.   


Pharmacyclics (Nasdaq: PCYC) reported upbeat results from a Phase Ib/II clinical trial of its irreversible Bruton's tyrosine kinase inhibitor PCI-32765 for treating relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma. 

Cabot Microelectronics (Nasdaq: CCMP) announced a special $15 per share dividend and increased its stock repurchase plan to $150 million.

On the downside


Avanir Pharmaceuticals (Nasdaq: AVNR) widened fourth quarter losses. 


FuelCell Energy (Nasdaq: FCEL) narrowed fourth quarter losses but the stock price fell. 

  

Penn Virginia (NYSE: PVA) lowered its fourth quarter production guidance.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 718.

Hope For Fed Action Lifts Markets

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Optimism that the Federal Reserve may take further action to stimulate the sluggish economy lifted the markets during the midday with the Dow gaining 68 points to 12,089. Nasdaq added 2 points to 2614.

On the upside

Shares of Jive Software (Nasdaq: JIVE) surged on its first trading day.   


Seaspan (NYSE: SSW) announced plans to repurchase up to 10 million shares of class A stock at the premium price of $15 per share. 

Deutsche Bank upgraded Marathon Oil (NYSE: MRO) to a Buy rating.

On the downside


SymphonyIRI reported that the market share of Green Mountain Coffee Roasters' (NYSE: GMCR) single serve K-Cup business slipped in November. 


Forest Oil (NYSE: FST) will spend $550 million to $600 million on capital projects in 2012 and expects 2012 net sales volumes to rise 5% - 6%. 

  

Sensata Technologies (NYSE: ST) lowered its fourth quarter guidance yesterday.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 733.

The markets opened higher with the Dow climbing 88 points to 12,110 even as November retail sales rose less than expected. Nasdaq gained 15 points to 2627.

On the upside

Morgan Stanley (NYSE: MS) and MBIA (NYSE: MBI) settled their lawsuits against each other with Morgan Stanley taking a $1.8 billion charge and unloading $5 billion of its risky financial assets.   


Urban Outfitters (Nasdaq: URBN) reported higher same store sales in the fourth quarter to date. 

Baxter International (NYSE: BAX) will pay approximately $325 million to acquire Synovis Life Technologies (Nasdaq: SYNO).

On the downside


Best Buy (NYSE: BBY) reported lower third quarter earnings that fell short of analyst expectations as increased competition forced the consumer electronics retailer to lower prices. 


Endocyte (Nasdaq: ECYT) reported inconclusive results from a Phase 2b PRECEDENT trial of its ovarian cancer treatment EC145. 

  

An arbitrator sided with Rio Tinto (NYSE: RIO) in its challenge to Ivanhoe Mines' (NYSE: IVN) Shareholders' Rights Plan by allowing the anti-dilution rights that were granted to Rio Tinto to apply.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 741.

The markets plunged to close sharply lower with the Dow plummeting 162 points to 12,021 over possible downgrades of European nations by Moody's. Nasdaq tumbled 34 points to 2612.

On the upside

Edwards Lifesciences (NYSE: EW) affirmed its 2011 guidance on Friday.   


The Bedford Report issued an equity report on Dex One (NYSE: DEXO). 

Martin Marietta's (NYSE: MLM) hostile bid for Vulcan Materials (NYSE: VMC) lifted shares of rival construction materials company Texas Industries (NYSE: TXI).

On the downside


Hagens Berman Sobol Shapiro reminded investors that 11 days remained before lead plaintiff deadline in a class-action lawsuit against Central European Distribution (Nasdaq: CEDC). 


BPZ Resources (NYSE: BPZ) director Gary Gordon sold 50,000 shares of company stock last week. 

  

Shares of National Bank of Greece (NYSE: NBG) fell after Moody's Investors Service announced that the credit ratings of all European nations would be reviewed.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 733.

Moody's Investors Service's announcement that it will conduct reviews of the credit ratings of all European countries sent the markets tumbling during the midday with the Dow collapsing 234 points to 11,949. Nasdaq sank 49 points to 2596.

On the upside

Rumors circulated that Verizon (NYSE: VZ) may be interested in acquiring Netflix (Nasdaq: NFLX).   


Martin Marietta Materials (NYSE: MLM) initiated an unsolicited bid of approximately $4.74 billion in stock to acquire Vulcan Materials (NYSE: VMC). 

After completing its strategic review, Sun Life Financial (NYSE: SLF) will no longer offer variable annuity and individual life products in the U. S. beginning on December 30, 2011.

On the downside


Continued concerns about the European debt crisis sank shares of coal producer Alpha Natural Resources (NYSE: ANR). 


ING Group (NYSE: ING) will swap approximately $7.76 billion in subordinated debt in exchange for senior loans and cash. 

  

Rosetta Resources (Nasdaq: ROSE) reported disappointing results from two exploratory wells in the Southern Alberta Basin.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 16 points to 728.

Concerns that last week's European deal fails to address underlying problems sent the markets tumbling to a sharply lower open with the Dow plummeting 168 points to 12,015. Nasdaq sank 49 points to 2597.

On the upside

The Food and Drug Administration approved a crush-resistant formula of Endo Pharmaceuticals' (Nasdaq: ENDP) Opana ER.   


OXiGENE (Nasdaq: OXGN) partnered with Azanta Danmark to provide ZYBRESTAT to anaplastic thyroid cancer patients in Europe and Canada. 

US Airways Group (NYSE: LCC) will allow active duty military personnel board first.

On the downside


Diamond Foods (Nasdaq: DMND) must delay filing its first quarter financial report due to an audit investigation in the accounting of certain crop payments to walnut growers. 


Shares of Pandora Media (NYSE: P) continued falling with the expiration of the lock-up period today. 

  

Analyst lowered their earnings estimate for MEMC Electronic Materials (NYSE: WFR).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 727.

Consumer sentiment climbed to a six month high to lift the markets to a sharply higher close with the Dow leaping 186 points to 12,184. Nasdaq surged 50 points to 2646.

On the upside

Shares of McClatchy (NYSE: MNI) continued climbing after reporting on Wednesday that advertising revenue was recovering.   


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

GMX Resources (NYSE: GMXR) declared a quarterly dividend of $0.578125 per share of its Series B cumulative preferred stock payable on December 30, 2011 to shareholders of record December 20, 2011.

On the downside


The lock-up period for Pandora (NYSE: P) will expire on Sunday, December 11. 


Investors locked in profits on E-Commerce China Dangdang (NYSE: DANG), whose stock price soared yesterday after the company announced that it will introduce its own e-book reader at the end of the month. 

  

Pacific Ethanol (Nasdaq: PEIX) will sell $8 million worth of stock through a private placement.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 22 points to 745.

European governments agreed to further integrate their economies in order to resolve the debt crisis. The markets continued rising with the Dow surging 173 points to 12,171. Nasdaq jumped 47 points to 2643.

On the upside

KeyBanc Capital Markets analyst Akshay Jagdale said that an audit committee investigation at Diamond Foods (Nasdaq: DMND) should be resolved quickly with the company unlikely to restate financials.   


Cooper Cos. (NYSE: COO) reported higher fourth quarter earnings that surpassed analyst estimates and forecast 2012 results ahead of expectations. 

First quarter earnings for Pall (NYSE: PLL) beat analyst expectations as revenue rose.

On the downside


The Justice Department planned to establish that Transocean (NYSE: RIG) engaged in willful misconduct in activities related to the Deepwater Horizon oilspill last year. 


Global Hunter Securities and RBC Capital both downgraded Pharmacyclics (Nasdaq: PCYC). 

  

Cell Therapeutics (Nasdaq: CTIC) will sell $20 million worth of preferred stock to two institutional investors.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 19 points to 741.

The markets opened higher with the Dow soaring 104 points to 12,101 after more than two dozen European nations agreed to tighter fiscal oversight of their budgets. Nasdaq gained 19 points to 2616.

On the upside

Thoma Bravo will take Blue Coat Systems (Nasdaq: BCSI) private in a deal valued at approximately $1.3 billion.   


Alcatel-Lucent (NYSE: ALU) invested in cloud compute platform developer CiiNOW. 

Morgan Stanley (NYSE: MS) climbed on news that European nations agreed to further integrate their budgets in order to resolve the debt crisis.

On the downside


DuPont (NYSE: DD) blamed slower growth and demand for lowering its full year guidance. 


Texas Instruments (NYSE: TXN) cited weak demand for cutting its revenue and earnings guidance for the fourth quarter. 

  

FBR Capital downgraded Invesco Mortgage Capital (NYSE: IVR) to a Market Perform rating from Outperform.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 731.

Disappointment with the failure of the ECB to increase government bond purchases sent the markets tumbling to a sharply lower close with the Dow sinking 198 points to 11,997. Nasdaq plummeted 52 points to 2596.

On the upside

Shares of LDK Solar (NYSE: LDK) continued climbing after selling 500 million yuan of 3-year bonds.   


Talbots' (NYSE: TLB) largest institutional investor, Oppenheimer, said that Sycamore Partners' $3 per share acquisition offer was too low. 

G-III (Nasdaq: GIII) reported higher third quarter earnings that topped analyst estimates as revenue climbed.

On the downside


Eastman Kodak (NYSE: EK) paid $217,000 to lobby the federal government in the third quarter. 


The Food and Drug Administration proposed suspending some of Invacare's (NYSE: IVC) operations for failing to comply with quality standard requirements. 

  

Investors locked in profits on McClathcy (NYSE: MNI), whose stock price climbed yesterday on news that advertising revenue began to recover this quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 23 points to 722.

The markets extended its losses during the midday with the Dow plunging 137 points to 12,059 over disappointment that the ECB will not be purchasing more government bonds. Nasdaq tumbled 33 points to 2615.

On the upside

IBM (NYSE: IBM) will pay a premium of approximately $440 million in cash to acquire DemandTec (Nasdaq: DMAN).   


E-Commerce China Dangdang (NYSE: DANG) will launch its own digital book reader at the end of the month. 

Russian Standard expressed interest in acquiring an additional 19.9% stake in Central European Distribution (Nasdaq: CEDC).

On the downside


Morgan Stanley analyst Adam Jonas downgraded Tesla (Nasdaq: TSLA) to an Underweight rating and slashed his price target on the stock from $44 to $26. 


Analysts lowered their price target for Hartford Financial Services (NYSE: HIG). 

  

Analysts lowered their earnings estimates and price target on Alpha Natural Resources (NYSE: ANR).

In the broad market, declining issues outpaced advancers 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 plummeted 18 points to 727.

The European Central Bank lowered a key interest rate but announced that there would be no increase in government bond purchases. The markets opened lower with the Dow dropping 65 points to 12,130 while Nasdaq fell 15 points to 2633.

On the upside

A Food and Drug Administration advisory panel recommended approval of Affymax's (Nasdaq: AFFY) peginesatide to treat anemia in dialysis patients.  


Pacific Sunwear (Nasdaq: PSUN) widened third quarter losses but the results were better than expected and the teen retailer announced plans to close up to 200 underperforming stores. 

Ciena (Nasdaq: CIEN) narrowed fourth quarter losses as revenue rose to top analyst estimates.

On the downside


American Airlines (NYSE: AMR) entered into a partnership with China's Hainan Airlines to codeshare each other's flights but the stock price fell over concerns about AMR's Chapter 11 bankruptcy filing. 


Clearwire (NYSE: CLWR) increased its stock offering to 175 million common shares and priced the offering at $2 per share. 

  

THQ (Nasdaq: THQI) warned that current quarter revenue will fall short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 734.

Mixed Close Ahead Of European Summit

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It was a mixed close for the markets with the Dow gaining 46 points to 12,196 ahead of the European summit to manage the debt crisis. Nasdaq eased a fraction to 2649.

On the upside

Men's Wearhouse (NYSE: MW) reported higher third quarter earnings that beat analyst expectations as prices rose and the company lifted its full year guidance.  


CRT Capital upgraded U. S. Airways (NYSE: LCC) to a Buy rating. 

Royale Energy (Nasdaq: ROYL) won the wide lease sale for the North Slope Area acreage in Alaska.

On the downside


Halliburton (NYSE: HAL) denied allegations by BP (NYSE: BP) that it destroyed evidence related to the 2010 Deepwater Horizon explosion but the stock price dropped. 


Investors locked in profits on Clearwire (NYSE: CLWR), whose stock price climbed yesterday after announcing a stock offering to raise $595 million. 

  

Juniper Networks (NYSE: JNPR) partnered with Sojitz subsidiary NISSHO to form J Network Initiative but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 746.

The markets traded mixed during the midday with the Dow rising 31 points to 12,181 as disagreements arose over proposals to resolve the European debt crisis. Nasdaq eased 2 points to 2647.

On the upside

McClatchy (NYSE: MNI) reported that advertising revenue was beginning to recover in the current quarter.  


Gannett (NYSE: GCI) chief executive Gracia Martore said that advertising trends improved in November. 

Bankrate (NYSE: RATE) shareholders will offer 10.5 million shares to the public at $17.50 per share.

On the downside


Cowen analyst Doug Creutz downgraded THQ (Nasdaq: THQI) yesterday to a Neutral rating. 


Investors locked in profits on Frontline (NYSE: FRO), whose stock price surged after announcing a restructuring plan. 

  

Shares of Fusion-io (NYSE: FIO) continued to slide after the lock-up period expired yesterday on more than 8.7 million shares.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 744.

European Concerns Sink Stocks

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Concerns that European leaders will fail to reach an agreement to manage the debt crisis sent the markets down to a lower open with the Dow falling 83 points to 12,066. Nasdaq dropped 36 points to 2612.

On the upside

Talbots (NYSE: TLB) received an unsolicited acquisition offer from Sycamore Partners for a premium of $3 per share.  


J.C. Penney (NYSE: JCP) will acquire a 16.6% stake in Martha Stewart Living Omnimedia (NYSE: MSO) for approximately $38.5 million. 

Berkshire Hathaway's MidAmerican Energy will acquire First Solar's (Nasdaq: FSLR) Topaz Solar Farm in California.

On the downside


Analysts lowered their earnings estimate for Sprint (NYSE: S). 


ING Group (NYSE: ING) warned of a $1.48 billion loss from its U. S. annuity business. 

  

Jaguar Mining (NYSE: JAG) announced the immediate departure of chief executive Daniel Titcomb.

In the broad market, declining outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 735.

It was a mixed close for the markets with the Dow gaining 52 points to 12,150 as European leaders considered a second bailout fund to contain the debt crisis. Nasdaq slipped 6 points to 2649.

On the upside

Clearwire (Nasdaq: CLWR) will raise approximately $595 million through a stock offering.  


Cell Therapeutics' (Nasdaq: CTIC) resubmitted new drug application for non-Hodgkin's lymphoma treatment pixantrone was considered complete by the Food and Drug Administration. 

The Benchmark Company upgraded Orbitz Worldwide (NYSE: OWW) to a Hold rating.

On the downside


Investors locked in profits on Affymax (Nasdaq: AFFY), whose stock price climbed yesterday after the Food and Drug Administration determined that the company's anemia treatment was just as effective as Amgen's (Nasdaq: AMGN) Epogen. 


Credit Suisse analyst Edward Westlake downgraded Tesoro (NYSE: TSO) to a Neutral rating. 

  

The lock-up period for Fusion-io (NYSE: FIO) expired today.

In the broad market, advancing issues barely edged out decliners by a slim margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 746.

The markets advanced during the midday with the Dow climbing 95 points to 12,193 as investors monitored developments in Europe. Nasdaq edged up a fraction to 2656.

On the upside

Investors bought call options on Hecla Mining (NYSE: HL).  


Eastman Kodak (NYSE: EK) replaced restructuring advisor Jones Day with Sullivan & Cromwell. 

Comstock Resources (NYSE: CRK) paid approximately $332.7 million to acquire acreage in the Delaware Basin in West Texas.

On the downside


Investors locked in profits on Synovus Financial (NYSE: SNV), whose stock price rose last week after central banks lowered the pricing on existing temporary U. S. dollar liquidity swap arrangements. 


SunTrust (NYSE: STI) reported sharply higher mortgage repurchase expenses in the fourth quarter. 

  

Mechel OAO (NYSE: MTL) suspended work at several facilities at the Lenin Underground mine and at the New-Olzherassk mine.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 746.

Mixed Open After S&P Warning

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The markets opened mixed with the Dow rising 41 points to 12,139 while Nasdaq slipped 5 points to 2649 after Standard & Poor's warned yesterday that the credit ratings of 15 European nations may be cut.

On the upside

John Fredriksen's Hemen Holdings will offer more than $500 million in guarantees to restructure Frontline (NYSE: FRO).  


Leap Wireless (Nasdaq: LEAP) entered into spectrum transaction agreements with Verizon Wireless. 

William Blair & Co. upgraded MetroPCS (NYSE: PCS) to an Outperform rating.

On the downside


Darden Restaurants (NYSE: DRI) slashed its full year guidance. 


A Seeking Alpha contributor alleged that China Medical Technologies (Nasdaq: CMED) paid $28.2 million to acquire Beijing Bio-Ekon from a party related to chief executive officer Wu Xiaodong. 

  

BP (NYSE: BP) claimed in a court filing that Halliburton (NYSE: HAL) destroyed evidence related to the Deepwater Horizon explosion in 2010.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 745.

Germany and France agreed on a debt plan for European countries lifting the markets to a higher close with the Dow gaining 78 points to 12,097. Nasdaq climbed 28 points to 2655.

On the upside

Barclays Capital analyst Stephen Kim said that the housing market will begin to recover next year lifting shares of mortgage insurers MGIC Investment (NYSE: MTG) and Radian Group (NYSE: RDN).  


BTIG initiated coverage of Assured Guaranty (NYSE: AGO) with a Buy rating and a price target of $35. 

SAP's (NYSE: SAP) $3.4 billion acquisition of SuccessFactors (Nasdaq: SFSF) sparked speculation that Ariba (Nasdaq: ARBA) may also be targeted for a buyout.

On the downside


Needham downgraded Hi Tech Pharmacal (Nasdaq: HITK) to a Hold rating. 


Investors locked in profits on Pacific Ethanol (Nasdaq: PEIX) whose stock price climbed last week after the company regained compliance for Nasdaq listing. 

  

Shares of Amgen (Nasdaq: AMGN) fell after the  Food and Drug Administration said that Affymax's (Nasdaq: AFFY) drug for anemia in dialysis patients with chronic kidney disease was just as effective as Amgen's Epogen and Aranesp.

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 12 points to 747.

The markets retreated from early morning highs but continued trading in positive territory with the Dow rising 52 points to 12,072 as German and French leaders met to discuss deficit control measures. Nasdaq gained 23 points to 2650.

On the upside

Syntroleum (Nasdaq: SYNM) and Tyson Foods (NYSE: TSN) joint venture Dynamic Fuels will supply the U. S. Navy with 450,000 gallons of renewable fuels.  


Lazard Capital Markets upgraded Gannett (NYSE: GCI) to a Buy rating. 

CRT Capital Group managing director Sheryl Skolnick wrote that new audits for Medicare payments for heart and orthopedic surgeries were misunderstood lifting shares of Tenet Healthcare (NYSE: THC).

On the downside


A Seeking Alpha article questioned the $22 price target that Canaccord Genuity set on Inhibitex (Nasdaq: INHX). 


Shares of Nokia (NYSE: NOK) tumbled after Brigantine Advisors backed their upgrade on November 17 of Research in Motion (Nasdaq: RIMM) to a Buy rating. 

  

Newfield Exploration (NYSE: NFX) will supply Tesoro with 18,000 barrels of crude oil per day but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 12 points to 747.

Optimism that European leaders will finalize an agreement to solve the credit crisis lifted the markets to a sharply higher open with the Dow surging 154 points to 12,173. Nasdaq soared 43 points to 2670.

On the upside

SAP (NYSE: SAP) will pay a premium of approximately $3.4 billion to acquire SuccessFactors (NYSE: SFSF).  


The Food and Drug Administration said that Affymax's (Nasdaq: AFFY) anemia medication peginesatide was just as effective as Amgen's (Nasdaq: AMGN) Epogen for treating patients with chronic kidney disease on dialysis. 

BMO Capital Markets said that Taleo (Nasdaq: TLEO) may be targeted for acquisition by Oracle (Nasdaq: ORCL).

On the downside


Regeneron Pharmaceuticals' (Nasdaq: REGN) age-related macular degeneration treatment Eylea provided no advantage to patients over Roche Holding's Lucentis after two years. 


Fushi Copperweld (Nasdaq: FSIN) rejected an offer by chief executive Li Fu to be taken private. 

  

A Seeking Alpha article said that Cedar Fair's (NYSE: FUN) dividend yield will not be as high as expected.

In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 14 points to 749.

Investors captured recent gains and sold off on positive news about the nation's unemployment rate.  The Dow slipped a fraction to 12,019 while Nasdaq rose a fraction to finish the session at 2626.

On the upside

Financial stocks rallied after languishing lately.  Shares of JP Morgan Chase (NYSE: JPM), Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC) were among the gainers.


Western Digital (NYSE: WDC) was upgraded by ThinkEquity from a hold to a buy as the hard drive maker recovered from recent floods in Thailand.


Shares of First Security Group (Nasdaq: FSGI) nearly doubled in value on light volume.  No news was attributed to the gain.


On the downside


Investors sold off on healthcare-related stocks.  Shares of Health Management Associates (NYSE: HMA) and Community Health Systems (NYSE: CYH) were among the day's largest decliners.


An analyst mentioned that Seagate Technology (NYSE: STX), which was the least hit hard drive maker from the recent floods in Thailand, may eventually lose market share back to Western Digital.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to close at 735.

Lower Jobless Rate Lifts Markets

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A surprise drop in the unemployment rate triggered a morning rally, but investors quickly took profits.  The Dow was up only 22 points to 12,042 while Nasdaq climbed 6 points to 2632.

On the upside

Shares of Zumiez (Nasdaq: ZUMZ) rocketed higher after the teen apparel retailer posted higher earnings and reported higher same store sales.


Mitel Networks (Nasdaq: MITL) posted higher 2nd quarter revenues while profits rose due to a boost in tax benefits.


Alexander & Baldwin (Nasdaq: ALEX) announced plans to split into two companies: one focused on ocean transports and the other on its Hawaii-based land and agriculture business.


Shares of Old Republic Internationial (NYSE: ORI) rose sharply after the insurer was added to one of S&P's high-yield dividend index.


On the downside


Shares of H&R Block (NYSE: HRB) fell after the tax preparer posted a wider quarter loss.


Teavana Holdings (NYSE: TEA) posted its 3rd quarter results showing growing revenues, but some investors worried about higher costs associated with new store openings.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 736.

A drop in the nation's unemployment rate to a 2 1/2 year low of 8.6% lifted the markets to a sharply higher open with the Dow soaring 101 points to 12,121. Nasdaq climbed 25 points to 2651.

On the upside

Western Digital (Nasdaq: WDC) lifted its December revenue guidance and announced the partial resumption of production at its Thailand facility ahead of schedule.  


Shares of Pacific Ethanol (Nasdaq: PEIX) continued climbing after regaining compliance with NASDAQ listing requirements earlier this week. 

Clearwire (Nasdaq: CLWR) stock continued rising after Sprint (NYSE: S) announced yesterday that it will provide Clearwire with $1.6 billion.

On the downside


Research in Motion (Nasdaq: RIMM) warned that third quarter revenue will fall short of expectations and full year earnings will miss estimates. 


Enbridge Energy Partners (NYSE: EEP) priced its offering of 8.5 million common units at $30.85 per unit. 

  

Big Lots (NYSE: BIG) reported sharply lower third quarter earnings that fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 739.

Investors contained their appetite for stocks as they digested higher jobless claims and the first batch of holiday retail sales numbers.  The Dow dropped 25 points to 12,020  while Nasdaq rose 5 points to close the session at 2626.

On the upside

Shares of Yahoo (Nasdaq: YHOO) rose on hopes of possible buyout offer from a number of private equity firms.

Western Refining (NYSE: WNR) announced plans to sell unused facilities and crude oil pipelines to Plains All American Pipeline LP for $220 million.

Shares of Coffee Holding (NYSE: JVA) rose after the coffee distribution company decided to invest in an instant coffee venture.

On the downside


Kohl's Corp. (NYSE:KSS) posted November sales declining 6.2% which missed analysts' projections of a 2.1% gain. 


Investors felt the sting as Scorpio Tankers (Nasdaq: STNG) offered 7 million shares at $5.50 each.


Shares of Lululemon Athletica (Nasdaq: LULU) lost their luster after the apparel retailer announced positive earnings, but missed revenue expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by a margin of nearly 7 to 4 on Nasdaq.  The Russell 2000 which tracks small cap stocks closed at 730, down 6 points.

Stocks slipped as investors mulled over the latest increase in jobless claims over the 400,000 threshold.  The Dow lost 37 points to 12,008 while Nasdaq moved back into the positive with a 2 point gain at 2622.

On the upside

Clearwire (Nasdaq: CLWR) entered a financing partnership with Sprint (NYSE: S) to receive $1.6 billion over the next four years.   The funds assure that Clearwire can make its next interest payment.

The Bon-Ton Stores (Nasdaq: BONT) reported lower November sales due to weak sales of its cold weather merchandise.  However, investors focused on the record Black Friday results and hoped that possible windstorms may fan coat sales in December.

S&P downgraded bond insurer Assured Guaranty (NYSE: AGO) to A-minus, but investors were assured by a stable rating outlook.

On the downside


Barnes & Noble (NYSE: BKS) posted lower than expected revenues along with a $6.6 million net loss for the latest quarter.  Nook Tablet sales was the major bright spot.


Shares of Finisar (Nasdaq: FNSR) skidded after the fiber optic components maker posted lower income and expected 3rd quarter results to miss targets.


UTI Worldwide (Nasdsaq: UTIW) posetd slightly higher revenues, but air freight volume remained weak particular in the month of October.


In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks gave up 4 points to 732.

Strong Same Store Sales Lift Markets

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Better than expected November same store sales lifted the markets to a higher open with the Dow adding 4 points to 12,049. Nasdaq rose 14 points to 2635.

On the upside

Synopsys (Nasdaq: SNPS) will acquire Magma Design Automation (Nasdaq: LAVA) in a deal valued at approximately $507 million.  


Transcept Pharmaceuticals (Nasdaq: TSPT) announced that Purdue Pharma will commercialize Transcept's middle-of-the-night awakening insomnia treatment Intermezzo in the United States. 

Charming Shoppes (Nasdaq: CHRS) narrowed third quarter losses, announced that it will divest its Fashion Bug business and will engage in a strategic review to enhance shareholder value.

On the downside


Lululemon Athletica (Nasdaq: LULU) reported higher third quarter earning but revenue fell short of expectations. 


Scorpio Tankers (NYSE: STNG) priced its public offering of 7 million common shares at the discounted price of $5.50 per share. 

  

Gildan Activewear (NYSE: GIL) reported lower fourth quarter earnings and forecast first quarter results below estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 734.

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