January 2012 Archives

Economic Data Weighs Down Markets

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Lower home prices along with a drop in consumer confidence weighed the markets down to a lower close with the Dow slipping 20 points to 12,632. Nasdaq added a point to 2813.

On the upside

MicroStockProfit.com issued a research report on FriendFinder Networks (Nasdaq: FFN). 


A Seeking Alpha contributor affirmed a Strong Buy rating for Gafisa (NYSE: GFA).

 

Parexel International (Nasdaq: PRXL) reported lower second quarter earnings but revenue climbed and the company's backlog increased.


On the downside


MannKind (Nasdaq: MNKD) will sell $50 million worth of stock and warrants through a public offering.  


Rex Energy (Nasdaq: REXX) announced a public offering of 7 million common shares. 

  

Waddell & Reed (NYSE: WDR) disappointed with lower fourth quarter earnings that fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 792.

The markets turned negative in midday trading with the Dow losing 42 points to 12,611 as consumer confidence unexpectedly fell in December. Nasdaq eased a fraction to 2811.

On the upside

The Food and Drug Administration approved Vertex Pharmaceuticals' (Nasdaq: VRTX) cystic fibrosis treatment Kalydeco. 


Shares of electronic payment solutions firm VeriFone Systems (NYSE: PAY) climbed on news that MasterCard (NYSE: MA) would introduce new credit cards with EMV technology.

 

ICICI Bank (NYSE: IBN) reported sharply higher third quarter earnings that beat analyst expectations.


On the downside


Fourth quarter earnings for Gentex (Nasdaq: GNTX) rose but the results fell short of analyst expectations.  


DA Davidson downgraded Polypore International (NYSE: PPO) to an Underperform rating. 

  

Tellab (Nasdaq: TLAB) narrowed fourth quarter losses but the communications equipment maker announced the elimination of 530 jobs.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners were on par with advancers on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 791.

Flat Open As Home Prices Drop

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The markets opened flat with the Dow edging  up a fraction to 12,654 as home prices dropped and consumer confidence slipped. Nasdaq added 4 points to 2816.

On the upside

ARM Holdings (Nasdaq: ARMH) reported higher fourth quarter earnings as sales climbed to beat expectations. 


U. S. Steel (NYSE: X) narrowed fourth quarter losses as revenue rose to surpass estimates.

 

Fourth quarter earnings rose for Mattel (Nasdaq: MAT) to top analyst expectations prompting the toymaker to raise its dividend.


On the downside


RadioShack (NYSE: RSH) warned of sharply lower fourth quarter earnings that will fall far short of analyst expectations and suspended its stock repurchase program.  


Second quarter earnings plunged for Archer Daniels Midland (NYSE: ADM) to miss expectations by a wide margin due to a significant impairment charge. 

  

Lexmark International (NYSE: LXK) reported lower fourth quarter earnings and revenue.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq.

The markets recovered earlier losses in afternoon trading but ended the session lower with the Dow slipping 6 points to 12,653 as the Greek debt crisis continued to weigh on investors. Nasdaq lost 4 points to 2811.

On the upside

Citigroup expects GTx (Nasdaq: GTXI) to report positive results next year for a Phase III clinical trial of its cancer related muscle wasting treatment Ostarine and lifted its price target on the biopharmaceutical to $19 per share. 


Comstock Resources (NYSE: CRK) reported a 25% increase in proved oil and natural gas reserves last year.

 

Shares of InvenSense (NYSE: INVN) continued rising after posting sharply higher third quarter earnings last week that surpassed analyst expectations by a wide margin.


On the downside


Hyperdynamics (NYSE: HDY) will raise approximately $30 million through a registered direct offering.  


The Food and Drug Administration approved the skin cancer treatment Erivedge which is made by Curis (Nasdaq: CRIS) and Genentech but the stock price fell. 

  

Globe Specialty Metals (NYSE: GSM) warned of lower second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 792.

Greece's failure to finalize a deal with creditors sent the markets down during the midday with the Dow tumbling 82 points to 12,577. Nasdaq lost 13 points to 2803.

On the upside

A Seeking Alpha contributor wrote that Arena Pharmaceuticals (Nasdaq: ARNA) has an upside potential of 300% in 2012. 


Shares of Chinese social networking site Renren (NYSE: RENN) surged over reports that Facebook may file for for its initial public offering this Wednesday.

 

The Wall Street Journal reported that Delta Air Lines (NYSE: DAL) may be exploring the possible acquisition of US Airways (NYSE: LCC).


On the downside


The Federal Trade Commission sued to block Omnicare's (NYSE: OCR) $440.8 million acquisition of PharMerica (NYSE: PMC).  


Emcore (Nasdaq: EMKR) announced a one for four reverse stock split. 

  

TheStreet upgraded YPF Sociedad Anonima (NYSE: YPF) to a Buy rating but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 791.

Greece continued struggling with its debt problems to weigh the markets down to a shapely lower open with the Dow plunging 108 points to 12,55. Nasdaq tumbled 28 points to 2787.

On the upside

Gores Group will take Pep Boys - Manny, Moe & Jack (NYSE: PBY) private for approximately $791 million in cash. 


ABB will pay approximately $3.9 billion in cash to acquire Thomas & Betts (NYSE: TNB).

 

The Food and Drug Administration approved Amylin Pharmaceuticals' (Nasdaq: AMLN) diabetes treatment Bydureon on Friday.


On the downside


Cell Therapeutics (Nasdaq: CTIC) withdrew the New Drug Application for its non-Hodgkin's lymphoma treatment Pixuvri.  


Gannett (NYSE: GCI) reported sharply lower fourth quarter earnings as revenue dropped. 

  

StemCells (Nasdaq: STEM) reported upbeat preclinical data that its purified human neural stem cells preserved vision in an animal model of retinal disease but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 789.

The nation's economy grew in the fourth quarter but at a slower than expected pace. The markets closed mixed with the Dow dropping 74 points to 12,660 while Nasdaq gained 11 points to 2816.

On the upside

The Paragon Report said that Sina (Nasdaq: SINA) will increase its revenue as more Chinese begin using the Internet. More than half a billion Chinese used the Internet in 2011. 


Despite strict government regulation, approximately 40% of China's population, more than 500 million people, used the Internet in 2011. Shares of social networking site Renren (NYSE: RENN) surged.

 

First Solar (Nasdaq: FSLR) was listed by a Seeking Alpha contributor as one of five solar stocks to own.


On the downside


Robert Half (NYSE: RHI) reported higher fourth quarter earnings and revenue but the results fell short of expectations.  


Fourth quarter earnings dropped for Chubb (NYSE: CB) due to hurricane losses. 

  

Legg Mason (NYSE: LM) blamed a restructuring charge for sharply lower third quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 798.

The markets traded mixed during the midday with the Dow falling 73 points to 12,661 after Fitch downgraded the credit ratings for Italy, Spain, Belgium and Slovenia. Nasdaq rose 6 points to 2811.

On the upside

Emulex (NYSE: ELX) reversed year ago losses to post a better than expected profit for the second quarter and forecast third quarter results that topped analyst estimates. 


Shares of United Continental (NYSE: UAL) continued rising after reporting a narrower than expected loss for the fourth quarter yesterday.

 

Newell Rubbermaid (NYSE: NWL) reported higher fourth quarter earning that topped expectations.


On the downside


Inergy (NYSE: NRGY) will evaluate its operating business in light of a challenging market conditions prompting downgrades.  


Shares of Nokia (NYSE: NOK) continued falling after reporting a fourth quarter loss yesterday. 

  

Third quarter earnings dropped for Cirrus Logic (Nasdaq: CRUS).

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 gained 4 points to 797.

The nation's economy expanded at a lower than expected 2.8% annual pace in the fourth quarter to weigh the markets down to a lower open with the Dow dropping 74 points to 12,660. Nasdaq edged up a fraction to 2806.

On the upside

Eastman Chemical (NYSE: EMN) will pay approximately $3.38 billion in cash and stock to acquire Solutia (NYSE: SOA). 


Cepheid (Nasdaq: CPHD) fell to a loss for the fourth quarter but the results surpassed analyst expectations and the company forecast 2012 results well ahead of estimates.

 

Informatica (Nasdaq: INFA) reported higher fourth quarter earnings that topped estimates and expects its pipeline to rise in the first quarter.


On the downside


Riverbed Technology (Nasdaq: RVBD) reported higher fourth quarter earnings as revenue climbed but the company warned of a drop in the growth of its Steelhead product line in the first quarter.  


Ford (NYSE: F) reported sharply higher fourth quarter earnings due to an accounting change but the results fell short of analyst expectations. 

  

Juniper Networks (NYSE: JNPR) disappointed with lower fourth quarter earnings and forecast first quarter results that fell far short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 793.

Sales of new homes dropped to a record low in 2011 to weigh the markets down to a lower close with the Dow losing 22 points to 12,734. Nasdaq fell 13 points to 2805.

On the upside

A magistrate judged has been assigned to Star Scientific's (Nasdaq: CIGX) patent infringement suit against RJ Reynolds for a possible settlement. 


United Rentals (NYSE: URI) reversed year ago losses to post a better than expected profit for the fourth quarter as revenue climbed.

 

United Continental (NYSE: UAL) narrowed fourth quarter losses more than expected as expenses related to the merger of United and Continental dropped.


On the downside


Fourth quarter earnings surged for Cypress Semiconductor (Nasdaq: CY) but the company warned of lower first quarter revenue.  


Quantum (NYSE: QTM) reported lower third quarter earnings as revenue slipped.

  

Exco Resources (NYSE: XCO) chairman and chief executive Douglas H. Miller sold nearly 1.2 million shred of common stock.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 792.

Mixed Markets As New Home Sales Drop

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The markets traded mixed during the midday with the Dow rising 14 points to 12,771 as a drop in December new home sales tempered strong corporate earnings. Nasdaq lost 7 points to 2811.

On the upside

J.C. Penney (NYSE: JCP) announced a new pricing strategy and logo and will redesign the layout of its stores. 


US Airways (NYSE: LCC) retained the services of Millstein & Co., Barclays and Latham & Watkins to explore the possible acquisition of bankrupt American Airlines.

 

PTC (Nasdaq: PMTC) reported higher first quarter earnings that topped analyst estimates.


On the downside


An appeals court granted Amphastar a stay in a patent infringement suit filed by Momenta Pharmaceuticals (Nasdaq: MNTA).  


Carbo Ceramics (NYSE: CRR) reported higher fourth quarter earnings but the results fell far short of analyst expectations.

  

Fourth quarter earnings dropped for Covance (NYSE: CVD) as gross margin fell prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 794.

Higher Open On Upbeat Earnings

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Upbeat earnings lifted the markets to a higher open with the Dow gaining 50 points to 12,807. Nasdaq rose 5 points to 2823.

On the upside

Amgen (Nasdaq: AMGN) will pay approximately $1.16 billion in cash to acquire Micromet (Nasdaq: MITI). 


Netflix (Nasdaq: NFLX) reported lower fourth quarter earnings but the video subscription service added 600,000 customers prompting an upgrade.

 

LSI (NYSE: LSI) narrowed fourth quarter losses and forecast first quarter results ahead of estimates.


On the downside


Fourth quarter earnings for SanDisk (Nasdaq: SNDK) tumbled as expenses climbed and the flash memory maker warned of weakness in the first half of 2012.  


Goldman Sachs downgraded E-trade Financial (Nasdaq: ETFC) after the online brokerage fell to an unexpected fourth quarter loss.

  

Monster Worldwide (NYSE: MWW) reported higher fourth quarter earnings but the results fell short of expectations and the recruitment firm announced the elimination of 400 jobs.

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 added 2 points to 797.

Investors welcomed the Federal Reserve's decision to maintain low interest rates until at least 2014 by lifting the markets to a high close with the Dow climbing 83 points to 12,758. Nasdaq soared 31 points to 2818.

On the upside

Fourth quarter earnings slipped for US Airways (NYSE: LCC) but the results surpassed analyst expectations by a wide margin and the airliner confirmed that it was exploring the possibility of merging with bankrupt American Airlines. 


Societe Generale upgraded Encana (NYSE: ECA) to a Buy rating.

 

Rising gold prices lifted shares of U. S. Gold (NYSE: UXG), Iamgold (NYSE: IAG) and Yamana Gold (NYSE: AUY).


On the downside


Motorola Solutions (NYSE: MSI) reported lower fourth quarter earnings and forecast current quarter earnings below expectations.  


Fourth quarter earnings rose for RPC (NYSE: RES) but the results fell short of analyst expectations and the company warned that lower natural gas production this year will negatively impact earnings.

  

RockTenn (NYSE: RKT) reported lower first quarter earnings that fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 795.

The Federal Reserve's announcement that it will maintain low interest rates until at least 2014 lifted the markets higher during the midday with the Dow rising 47 points to 12,722. Nasdaq climbed 26 points to 2812.

On the upside

CA (Nasdaq: CA) reported higher third quarter earnings and revenue that beat expectations and lifted its full year guidance. 


Fourth quarter earnings surged for Delta Air Lines (NYSE: DAL) to handily beat analyst expectations as the company increased ticket prices.

 

Tempur-Pedic International (NYSE: TPX) reported higher fourth quarter earnings that topped analyst estimates and forecast 2012 results ahead of expectations.


On the downside


Fusion-io (NYSE: FIO) narrowed second quarter losses but the company warned of lower margins in the current quarter.  


Xerox (NYSE: XRX) reported fourth quarter earnings that more than doubled but revenue fell short of expectations.

  

Hess (NYSE: HES) fell to a loss for the fourth quarter.

In the broad market, advancing issues outpaced decliners 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 gained 5 points to 793.

The markets opened mixed with the Dow dropping 79 points to 12,595 as pending home sales fell. Apple's impressive earnings lifted Nasdaq 4 points to 2791.

On the upside

Roche announced a $5.7 billion hostile bid for Illumina (Nasdaq: ILMN). 


First quarter earnings more than doubled for Apple (Nasdaq: AAPL) to beat analyst expectations by a wide margin on strong iPhone sales and forecast current quarter results ahead of estimates.

 

Textron (NYSE: TXT) swung to a loss for the fourth quart but the results were better than expected and the company forecast 2012 results above analyst expectations.


On the downside


Corning (NYSE: GLW) disappointed with sharply lower fourth quarter earnings and warned that the company will lower glass prices this quarter.  


Fourth quarter earnings for WellPoint (NYSE: WLP) tumbled to fall short of analyst expectations as expenses climbed. 

  

LM Ericsson (Nasdaq: ERIC) reported sharply lower fourth quarter earnings as gross margin fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 786.

The markets closed mixed with the Dow losing 33 points to 12,675 as upbeat earnings tempered fears of a Greek default. Nasdaq added 2 points to 2786.

On the upside

Synovus Financial (NYSE: SNV) reversed year ago losses to post a profit for the fourth quarter as loan loss provisions dropped. 


Waters (NYSE: WAT) reported higher fourth quarter earnings that topped analyst estimates as revenue rose.

 

Lee Enterprises (NYSE: LEE) will exit Chapter 11 bankruptcy on January 30.


On the downside


TCF Financial (NYSE: TCB) blamed lower banking fees for a sharp drop in fourth quarter earnings.  


The threat of a possible default by Greece weighed down shares of National Bank of Greece (NYSE: NBG). 

  

STMicroelectronics (NYSE: STM) swung to a loss for the fourth quarter as revenue dropped to fall short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 788.

Greek Default Looms, Markets Down

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The markets traded lower during the midday with the Dow falling 40 points to 12,668 over concerns that Greece may default on its debt. Nasdaq edged up a fraction to 2785.

On the upside

BioLineRx (Nasdaq: BLRX) secured a worldwide, exclusive license agreement to develop and commercialize Genoscience's hepatitis C treatment BL-8020. 


Second quarter earnings slipped for Western Digital (NYSE: WDC) due to floods in Thailand but the results beat analyst expectations and the company forecast current quarter results ahead of estimates.

 

VMware (NYSE: VMW) reported sharply higher fourth quarter earnings that topped analyst estimates and forecast first quarter results that beat expectations.


On the downside


CSX (NYSE: CSX) reported higher fourth quarter earnings but the results fell short of analyst expectations and the company announced that former chief operating officer Oscar Munoz replaced COO David A. Brown.  


Second quarter net income slipped for Brinker International (NYSE: EAT). 

  

Kansas City Southern (NYSE: KSU) reported sharply higher fourth quarter earnings but revenue fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 785.

Concerns that Greece may fail to finalize a debt deal weighed the markets down to a lower open with the Dow losing 44 points to 12,664. Nasdaq slipped 2 points to 2781.

On the upside

Clearwire (Nasdaq: CLWR) expects to report fourth quarter revenue ahead of analyst expectations. 


EMC (NYSE: EMC) reported record earnings and revenue for the fourth quarter.

 

Fourth quarter earnings surged for Polycom (Nasdaq: PLCM) to surpass analyst expectations by a wide margin.


On the downside


Analysts expect Nokia's (NYSE: NOK) earnings and sales to drop as the company's market share continues to shrink.  


InterDigital (Nasdaq: IDCC) will not sell itself and focus on monetizing its vast portfolio of patents. 

  

Zions Bancorp (Nasdaq: ZION) reversed year ago losses to post a profit for the fourth quarter but the results missed expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 780.

Flat Close As Greek Talks Continue

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The markets closed flat with the Dow slipping 11 points to 12,708 as Greece continued negotiations with creditors. Nasdaq lost 2 points to 2784.

On the upside

Investors expect demand for coal to increase after Chesapeake Energy (NYSE: CHK) announced natural gas production cuts.  Shares of Patriot Coal (NYSE: PCX) rose. 


A Seeking Alpha contributor listed Quicksilver Resources (NYSE: KWK) as one of five energy stocks to buy.

 

Hugoton Royalty Trust (NYSE: HGT) declared a cash distribution of $0.082003 per unit payable on February 14, 2012 to unit holders of record on January 31, 2012.


On the downside


Twin Disc (Nasdaq: TWIN) reported higher second quarter earnings but its order backlog dropped.  


JP Morgan downgraded McMoRan Exploration (NYSE: MMR) to an Underweight rating. 

  

Standard Register (NYSE: SR) will eliminate jobs as part of a restructuring plan and suspended its quarterly dividend.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 783.

The markets retreated to trade lower during the midday with the Dow losing 27 points to 12,692 as investors awaited debt negotiation news from Greece. Nasdaq slipped 5 points to 2780.

On the upside

An announcement by Chesapeake Energy (NYSE: CHK) this morning that it would cut natural gas production this year lifted shares of rival natural gas companies Southwestern Energy (NYSE: SWN), Cabot Oil & Gas (NYSE: COG), Range Resources (NYSE: RRC) and Forest Oil (NYSE: FST). 


Analysts expect EQT (NYSE: EQT) to report sharply higher fourth quarter earnings on Thursday.

 

PetMed (Nasdaq: PETS) reported fourth quarter earnings and revenue that surpassed analyst expectations.


On the downside


Pan American Silver (Nasdaq: PAAS) will pay approximately $1.49 billion in cash and stock to acquire Minefinders.  


Investors locked in profits on E-Commerce China Dangdang (NYSE: DANG), whose stock price climbed last week on news that China's economy continued expanding in the fourth quarter. 

  

Hyperdynamics (NYSE: HDY) will suspend drilling at its Sabu-1 exploration well off the coast of Guinea for one week while equipment is repaired.

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 2 points to 781.

The markets opened higher with the Dow rising 24 points to 12,744 as Greece appeared close to finalizing an agreement with its creditors. Nasdaq gained 11 points to 2798.

On the upside

Chesapeake Energy (NYSE: CHK) will cut natural gas production by 8% due to an oversupply of the fuel. 


Shares of Cell Therapeutics (NYSE: CTIC) continued to rise after announcing that the Eurpean Medicines Agency's Committee for Medicinal Products for Human Use may issue an opinion of the company's Marketing Authorization Application for Pixuvri in mid-February.

 

Sears Holdings (NYSE: SHLD) director Eddie S. Lampert purchased $3.3 million worth of common stock.


On the downside


Research In Motion (Nasdaq: RIMM) announced the appointment of Thorsten Heins to the position of chief executive replacing co-chief executives Mike Lazaridis and Jim Balsillie, who have resigned.  


Shares of Columbia Laboratories (NYSE: CBRX) continued falling after a Food and Drug advisory panel rejected its preterm birth prevention gel Prochieve on Friday. 

  

Halliburton (NYSE: HAL) reported higher fourth quarter earnings but investors were disappointed that the results failed to surpass expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 789.

The markets closed mixed with the Dow soaring 96 points to 12,720 as the European debt crisis continued to weigh on investors. Nasdaq eased a point to 2786.

On the upside

Cell Therapeutics (Nasdaq: CTIC) anticipates an opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use in mid-February for its Marketing Authorization Application for Pixuvri. 


Shareholders approved US Gold's (NYSE: UXG) proposed acquisition of Minera Andes.

 

A Seeking Alpha contributor noted that CPI (NYSE: CPY) had a yield of 65%.


On the downside


The European Medicines Agency launched an investigation into the role of Novatis' (NYSE: NVS) multiple sclerosis treatment Gilenya in the deaths of eleven patients.  


Abercrombie & Fitch (NYSE: ANF) will close three stores in the Minneapolis-St. Paul metropolitan area. 

  

A Seeking Alpha contributor questioned the effectiveness of Achillion Pharmaceuticals' (Nasdaq: ACHN) hepatitis C treatments that are currently in development.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 784.

The markets traded mixed during the midday with the Dow climbing 63 points to 12,687 in anticipation of the implementation of the Federal Reserve's new communications policy next week. Nasdaq lost 4 points to 2783.

On the upside

CNBC reported that Talbots (NYSE: TLB) may be engaged in negotiations to be acquired by Golden Gate or TPG. 


CIT Group may resume financing loans to suppliers for Sears (Nasdaq: SHLD).

 

AsiaInfo-Linkage (Nasdaq: ASIA) received an acquisition offer from Power Joy.


On the downside


The Federal Bureau of Investigations charged Cogent Communications (Nasdaq: CCOI) client Megaupload.com with copyright infringement and shut down the content sharing website.  


Whiting Petroleum (NYSE: WLL) lowered its production guidance for the fourth quarter as well as the full year. 

  

TreeHouse Foods (NYSE: THS) warned that fourth quarter earnings will fall short of expectations and cut its full year outlook as warm weather hurt sales.

In the broad market, advancing issues barely edged out decliners by a margin by a margin of nearly 5 to 4 the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 783.

Mixed Open Over Earnings News

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The markets opened mixed with the Dow climbing 63 points to 12,687 while Nasdaq slipped 2 points to 2785 over earnings news.

On the upside

First quarter earnings slipped for Skyworks Solutions (Nasdaq: SWKS) but the results topped analyst estimates and the chipmaker forecast current quarter results ahead of expectations. 


The Food and Drug Administration lifted the clinical hold placed on Insmed's (Nasdaq: INSM) ARIKACE for treating patients with non-tuberculosis mycobacteria lung disease.

 

SunTrust Banks (NYSE: STI) reported higher fourth quarter earnings as loan loss provisions dropped.


On the downside


Google (Nasdaq: GOOG) reported higher fourth quarter earnings but the results fell short of expectations as advertising prices fell.  


Capital One Financial (NYSE: COF) disappointed with sharply lower fourth quarter earnings as expenses increased. 

  

Boardwalk Pipeline Partners (NYSE: BWP) priced its offering of 8 million common units at the discounted price of $27.55 per unit.

In the broad market, advancing issues barely edged out decliners by a margin by slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 782.

Higher Close On Upbeat Economic Data

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Falling jobless claims and record low mortgage rates lifted the markets to a higher close with the Dow climbing 46 points to 12,625. Nasdaq gained 18 points to 2788.

On the upside

Fourth quarter earnings for Knight Capital Group (NYSE: KCG) surged more than fourfold to surpass analyst expectations by a wide margin. 


Hansen Medical (Nasdaq: HNSN) will exhibit its Magellan Robotic System at the Leipzig Interventional Course from January 25-28.

 

NetScout Systems (Nasdaq: NTCT) reported lower third quarter earnings but the results topped analyst estimates.


On the downside


MEMC Electronic Materials (NYSE: WFR) will spend $4.6 billion over five years to build solar power plants in Japan.  


Navistar International (NYSE: NAV) failed to convince the Environmental Protection Agency to recall model year 2010 engines made by a rival. 

  

A member of Motley Fool's investing community said to avoid Lexicon Pharmaceuticals (Nasdaq: LXRX).

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 782.

Mortgage Rates Fall, Markets Rise

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The markets advanced during the midday with the Dow gaining 33 points to 12,612 as mortgage rates dropped to a new low. Nasdaq climbed 21 points to 2791.

On the upside

Third quarter earnings and revenue surged for 8x8 (Nasdaq: EGHT) to top analyst expectations. 


Alcatel-Lucent (NYSE: ALU) partnered with Arbor Networks to offer a solution to distributed denial of service attacks.

 

Morgan Stanley upgraded UBS (NYSE: UBS) to an Overweight rating.


On the downside


Investors locked in profits of JA Solar (Nasdaq: JASO) and Suntech Power Holdings (NYSE: STP), whose stock prices soared recently over expectations of a solar rebound.  


The TUV Rheinland Group granted Yingli Green Energy (NYSE: NAT) Product Carbon Footprint Verification for its multi-crystalline and mono-crystalline PV modules but the stock price fell. 

  

BankUnited (NYSE: BKU) will no longer pursue suitors and will remain an independent company.

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 rose 3 points to 782.

Higher Open As Jobless Claims Drop

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A sharp drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow rising 28 points to 12,607. Nasdaq gained 17 points to 2787.

On the upside

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


Morgan Stanley (NYSE: MS) reported a loss for the fourth quarter that was smaller than expected.

 

First quarter earnings for F5 Networks (Nasdaq: FFIV) rose to top analyst estimates.


On the downside


Johnson Controls (NYSE: JCI) reported higher first quarter earnings and revenue but the results missed analyst expectations and the company cut its outlook for the year.  


Nordic American Tankers (NYSE: NAT) priced its offering of 5.5 million common shares.

  

Investors locked in profits on Energy Conversion Devices (Nasdaq: ENER), whose stock price surged after paying down debt last week.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 780.

Higher Close As IMF Ups Bailout Fund

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The markets closed higher with the Dow climbing 96 points to 12,578 as investors welcomed plans by the International Monetary Fund to increase the European bailout fund by up to $500 billion. Nasdaq soared 41 points to 2769.

On the upside

Barclays Capital upgraded Radio Shack (NYSE: RSH) to an Equal Weight rating from Underweight. 


PHH (NYSE: PHH) completed its $250 million convertible senior notes offering.

 

Brighton Markets issued a research report on United Rentals (NYSE: URI).


On the downside


Sunoco (NYSE: SUN) completed the spin-off of SunCoke (NYSE: SXC).  


Fulton Financial (Nasdaq: FULT) reported higher fourth quarter earnings but the results fell short of expectations.

  

Investors locked in profits on Ku6 Media (Nasdaq: KUTV), whose stock price soared yesterday on news of its partnership with YouTube.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 779.

The International Monetary Fund will explore ways to increase the European bailout fund by up to $500 billion. The markets traded higher during the midday with the Dow gaining 63 points to 12,545 while Nasdaq climbed 33 points to 2761.

On the upside

A Seeking Alpha contributor wrote that the solar industry will rebound lifting shares of JA Solar Holdings (Nasdaq: JASO) and Suntech Power Holdings (NYSE: STP). 


Linear Technology (Nasdaq: LLTC) reported lower second quarter earnings as revenue slipped but revenue topped analyst estimates and the company forecast third quarter revenue ahead of expectations.

 

Bargain hunters snapped up shares of Columbia Laboratories (Nasdaq: CBRX), whose stock price plummeted yesterday after the Food and Drug Administration released a staff report saying that the company's preterm birth prevention gel was ineffective.


On the downside


Bank of New York Mellon (NYSE: BK) cited restructuring charges for lower fourth quarter earnings that fell short of analyst expectations.  


Shares of Apollo Group (Nasdaq: APOL) fell after Height Analytics warned that the federal government may reduce funding to military personnel that is used to repay education loans.

  

BancorpSouth (NYSE: BXS) reported lower fourth quarter earnings and announced a public offering of $100 million in common stock.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 775.

Higher Open On Strong Factory Output

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A strong gain in December factory output lifted the markets to a higher open with the Dow climbing 66 points to 12,548. Nasdaq gained 20 points to 2748.

On the upside

Bollinger Report issued a research report on Energy Conversion Devices (Nasdaq: ENER). 


Shares of ING (NYSE: ING) continued climbing after reports yesterday that American International Group (NYSE: AIG) was interested in acquiring ING's Asian insurance business.

 

Mad Money's Jim Cramer ranked Heckmann (NYSE: HEK) a Buy yesterday.


On the downside


UBS downgraded GenOn Energy (NYSE: GEN) to a Sell rating.  


Majesco Entertainment (Nasdaq: COOL) blamed higher operating expenses for widening fourth quarter losses and forecast 2012 results below analyst expectations.

  

Fourth quarter earnings for State Street (NYSE: STT) soared but the results fell far short of analyst expectations.

In the broad market, advancing issues outpaced decliners 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 rose 4 points to 769.

The markets closed higher with the Dow gaining 60 points to 12,482 as China's economy continued to expand in the fourth quarter. Nasdaq climbed 17 points to 2728.

On the upside

Goldman Sachs analyst Patrick Archambault upgraded Tesla (Nasdaq: TSLA) to a Buy rating. 


Rumors circulated that Samsung may be interested in acquiring parts of Research in Motion (Nasdaq: RIMM) or even the entire company.

 

Motley Fool recommended against buying Cameco (NYSE: CCJ) but the stock price rose.


On the downside


A Food and Drug Administration staff report said that Columbia Laboratories' (Nasdaq: CBRX) and Watson Pharmaceuticals' (NYSE: WPI) progesterone gel to prevent preterm birth was ineffective.  


Shares of Patriot Coal (NYSE: PCX) fell after Citi Investment Research analyst Brian Yu said that coal prices are expected to drop in 2012 on weak demand amidst higher production.

  

The partial sinking of Carnival (NYSE: CCL) cruise ship Costa Concordia off the coast of Italy weighed down shares of rival Royal Caribbean Cruises (NYSE: RCL).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 765.

Optimism that the Chinese government may act to further stimulate its economy lifted the markets during the midday with the Dow climbing 98 points to 12,520. Nasdaq gained 26 points to 2737.

On the upside

Maxim Group analyst Aaron Chew expects solar demand to climb in China for 2012 and noted that Yingli Green Energy (NYSE: YGE) will have an advantage over its rivals because it owns a polysilicon plant. 


Rumors circulated that American International Group (NYSE: AIG) subsidiary AIA Group may consider that possibility of acquiring ING's (NYSE: ING) Asian insurance business.

 

Ku6 Media (Nasdaq: KUTV) entered into a partnership with YouTube that will allow Ku6 users to view original videos from China through a new YouTube channel.


On the downside


R. R. Donnelly & Sons (Nasdaq: RRD) forecast 2011 revenue below analyst expectations.  


MGIC Investment (NYSE: MTG) will release fourth quarter results before market open on Tuesday, January 24, 2012.

  

Second quarter earnings rose for New Oriental Education & Technology (NYSE: EDU) but the results fell short of expectations and the private educational services provider forecast current quarter revenue below estimates.

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 gained 5 points to 769.

China's economy expanded at a greater-than-expected 8.9% in the fourth quarter to boost the markets to a sharply higher open with the Dow soaring 119 points to 12,541. Nasdaq climbed 26 points to 2736.

On the upside

Blackbaud offered a premium of approximately $312 million in cash to acquire Convio (Nasdaq: CNVO). 


Pembina Pipeline will acquire Provident Energy (NYSE: PVX) in a stock deal valued at approximately $3.1 billion.

 

Venoco (NYSE: VQ) accepted a $770 million acquisition offer from its chairman and chief executive Timothy Marquez.

On the downside


Citigroup (NYSE: C) disappointed with lower fourth quarter earning that fell far short of analyst expectations.  


Carnival (NYSE: CCL) cruise ship Costa Concordia partially sank off the coast of Italy on Friday, killing at least six people.

  

Kinross Gold (NYSE: KGC) warned of higher production costs for 2012.

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 rose 5 points to 769.

U. S. Markets Closed

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U. S. markets are closed in observance of the Martin Luther King, Jr. holiday.

Standard & Poor's downgraded the credit rating of France to weigh the markets down to a lower close with the Dow falling 48 points to 12,422. Nasdaq lost 14 points to 2710.

On the upside

Idenix Pharmaceuticals (Nasdaq: IDIX) engaged in discussions to identify a partner to jointly develop a drug cocktail to treat hepatitis C. 


Bloomberg News reported that BankUnited (NYSE: BKU) retained the services of Goldman Sachs to explore the possible sale of the company. 


China Ming Yang Wind Power Group (NYSE: MY) successfully hosted its 2012 Ming Yang Wind Power Strategy Supply Chain Conference with more than 276 suppliers in attendance.

On the downside


A 21% drop in December video game hardware and software sales weighed down shares of Electronic Arts (Nasdaq: EA).  


Two Tesla Motor (Nasdaq: TSLA) executives who worked on the Model S luxury sedan left the electric car company this month.

  

Raymond James downgraded JA Solar (Nasdaq: JASO) to an Underperform rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 764.

A breakdown of debt negotiations in Greece sent the markets tumbling during the midday with the Dow plummeting 102 points to 12,368. Nasdaq fell 22 points to 2701.

On the upside

Rovi (Nasdaq: ROVI) announced the sale of its Roxio unit to Corel. 


A Seeking Alpha contributor said that KB Home (NYSE: KBH) was undervalued. 


Craig-Hallum said that ZAGG (Nasdaq: ZAGG) may be able to land Wal-Mart (NYSE: WMT) as client.

On the downside


Patriot Coal (NYSE: PCX) cited weak demand for lowering coal production in West Virginia.  


Shares of coal companies Arch Coal (NYSE: ACI), Alpha Natural Resources (NYSE: ANR) and Consol Energy (NYSE: CNX) all fell after Patriot cut its production.

  

JDA Software Group (Nasdaq: JDAS) reported preliminary fourth quarter revenue that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 762.

Standard & Poor's informed several European governments of possible credit downgrades sending the markets tumbling to a lower open with the Dow plunging 133 points to 12,337. Nasdaq dropped 28 points to 2696.

On the upside

Westlake Chemical offered approximately $1.03 billion in cash to acquire Georgia Gulf (NYSE: GGC). 


Radian Group (NYSE: RDN) wrote $6.5 billion in new mortgage insurance during the fourth quarter. 


SAP AG (NYSE: SAP) reported record revenue for the fourth quarter as well as the full year.

On the downside


Archer Daniels Midland (NYSE: ADM) will end its Telles biodegradable plastics joint venture with Metabolix (Nasdaq: MBLX).  


Raymond James downgraded JA Solar Holdings (Nasdaq: JASO) to an Underperform rating.

  

The Wall Street Journal reported that federal prosecutors initiated an investigation into possible accounting violations by Diamond Foods (Nasdaq: DMND).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 761.

Drop In Mortgage Rate Lifts Markets

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A drop in mortgage rates to a record low 3.89% lifted the markets to a modestly higher close with the Dow rising 21 points to 12,471. Nasdaq gained 13 points to 2724.

On the upside

Furniture Brands International (NYSE: FBN) presented at the 14th Annual ICR XChange Conference in Miami yesterday. 


A Seeking Alpha contributor expects solar stocks to rally in 2012 lifting shares of Trina Solar (NYSE: TSL) and Hanwha SolarOne (Nasdaq: HSOL). 


Wells Fargo initiated coverage of SunCoke Energy (NYSE: SXC) with an Outperform rating.

On the downside


WPX Energy (NYSE: WPX) reported production at its Bakken Shale of 6,400 barrels of oil equivalent per day in October 2011 and expects to increase production to 20,000 BOE per day by the end of 2012.  


Shares of Precision Drilling (NYSE: PDS) continued falling even though Dahlman Rose initiated coverage of the stock yesterday with a Buy rating.

  

Covance (NYSE: CVD) affirmed its full year guidance at the 30th Annual J.P. Morgan Healthcare Conference yesterday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 770.

The markets traded flat during the midday with the Dow slipping 3 points to 12,445 despite a drop in mortgage rates as investors monitored debt proceedings in Greece. Nasdaq rose 7 points to 2718.

On the upside

BioDelivery Sciences International (Nasdaq: BDSI) granted Endo Pharmaceuticals (Nasdaq: ENDO) an exclusive world-wide license to develop, manufacture, market and sell its BEMA Buprenorphine product. 


A Seeking Alpha contributor established a $105 per share price target on Molycorp (NYSE: MCP). 


China GrenTech (Nasdaq: GRRF) will be taken private by Talenthome Management and Xing Sheng.

On the downside


Rumors circulated that the Federal Trade Commission will block Omnicare's (NYSE: OCR) acquisition of PharMerica (NYSE: PMC).  


Law firm Block & Leviton initiated an investigation into Health Management Associates (Nasdaq: HMA) for possible securities law violations.

  

Raymond James (NYSE: RJF) will acquire Morgan Keegan for approximately $930 million in stock.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 768.

The Commerce Department reported a disappointing 0.1% gain in December retail sales over November sales to weigh the markets down to a lower open with the Dow falling 42 points to 12,406. Nasdaq slipped 7 points to 2703.

On the upside

Dick's Sporting Goods (NYSE: DKS) announced a $200 million stock repurchase plan and narrowed its earnings guidance for the fourth quarter as well as the full year. 


Tractor Supply (Nasdaq: TSCO) lifted its full year guidance as fourth quarter revenue climbed to top estimates. 


Yamana Gold (NYSE: AUY) reported higher gold production in 2011 at a cash cost that was significantly lower than expected.

On the downside


Williams-Sonoma (NYSE: WSM) cut its fourth quarter earnings outlook due to more discounts during the holiday shopping season.  


Infosys (Nasdaq: INFY) reported higher third quarter earnings that met expectations but forecast current quarter results below estimates.

  

Wynn Resorts (Nasdaq: WYNN) vice chairman Kazuo Okada filed a lawsuit against the casino resort developer seeking certain financial records.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 763.

The markets closed mixed with the Dow losing 13 points to 12,449 as the European debt crisis continued to weigh on investors. Nasdaq rose 8 points to 2710.

On the upside

GlaxoSmithKline (NYSE: GSK) chief financial officer Simon Dingemans described the company's relationship with Human Genome Sciences (Nasdaq: HGSI) in a very positive light prompting speculation that GlaxoSmithKline may be exploring the possible acquisition of Human Genome. 


Motley Fool noted that Suntech Power Holdings (NYSE: STP) had $433 million in goodwill and other intangible assets on its balance sheet. 


Canadian Solar (Nasdaq: CSIQ), Hanwha SolarOne (Nasdaq: HSOL) and Yingli Green Energy all climbed after Deutsche Bank analyst Vishal Shah wrote that solar panel demand is expected to be strong in the first half of the year.

On the downside


Falling natural gas prices weighed down shares of Cabot Oil & Gas (NYSE: COG) and Range Resources (NYSE: RRC).  


Universal American (NYSE: UAM) will pay approximately $227.5 million to acquire privately held APS Healthcare.

  

Hill-Rom Holdings (NYSE: HRC) lowered its full year outlook.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 767.

The markets traded mixed during the midday with the Dow slipping 32 points to 12,430 after Fitch warned that it may downgrade Italy, Spain, Belgium, Ireland, Slovenia and Cyprus. Nasdaq added 4 points to 2707.

On the upside

Shares of JA Solar Holdings (Nasdaq: JASO), Suntech Power Holdings (NYSE: STP) and Trina Solar (NYSE: TSL) all rose after Deutsche Bank analyst Vishal Shah wrote that solar panel demand is expected to be strong in the first half of the year. 


A Seeking Alpha contributor listed MEMC Electronic Materials (NYSE: WFR) as one of five inexpensive technology stocks with great upside potential. 


Lennar (NYSE: LEN) reported a sharp increase in new orders lifting rival homebuilder KB Home (NYSE: KBH).

On the downside


Robert W. Baird downgraded Southwestern Energy (NYSE: SWN) from an Outperform rating to Neutral rating.  


Investors locked in profits on Questcor (Nasdaq: QCOR), whose stock price surged on Monday after reporting that sales of its multiple sclerosis treatment H.P. Acthar Gel doubled in the fourth quarter compared to last year.

  

Franklin Resources (NYSE: BEN) reported a drop in assets under management in December prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 765.

A contraction of Germany's economy in the fourth quarter weighed the markets down to a lower open with the Dow losing 36 points to 12,425. Nasdaq slipped 2 points to 2700.

On the upside

Crocs (Nasdaq: CROX) expects 2011 revenue to top $1 billion with fourth quarter revenue reaching the high end of its guidance. 


Alcatel-Lucent (NYSE: ALU) and Verizon Wireless (NYSE: VZ) demonstrated a new breed of mobile commerce applications that delivers custom coupons directly to the consumer's mobile device at the Consumer Electronics Show. 


Reuters reported that Textron (NYSE: TXT) may spin-off some of its businesses.

On the downside


Urban Outfitters (Nasdaq: URBN) chief executive Glen Senk resigned prompting downgrades.  


The Mine Safety and Health Administration ordered Hecla Mining (NYSE: HL) to close the Silver Shaft at the Lucky Friday mine in order to remove built-up material. The mining company also cut its 2012 silver production guidance. 

  

Supervalu (NYSE: SVU) widened third quarter losses as food prices climbed and cut its full year revenue outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 761.

China's trade surplus widened in December to lift the markets to a higher close with the Dow gaining 69 points to 12,462. Nasdaq climbed 25 points to 2702.

On the upside

Shares of Idenix Pharmaceuticals (NYSE: IDIX) continued climbing over speculation that the hepatitis C treatment maker may be acquired.  


Cobalt International Energy (NYSE: CIE) reported very encouraging results at its Cameia-1 discovery off the shore of West Africa. 


Brean Murray and Roth Capital affirmed their Buy ratings for Sina (Nasdaq: SINA).

On the downside


Complete Genomics (Nasdaq: GNOM) delivered fewer genomes than expected in the fourth quarter prompting a downgrade.  


Hhgregg (NYSE: HGG) warned of lower third quarter earnings and cut its guidance for 2012. 

  

Signet Jewelers (NYSE: SIG) reported higher same store sales during the holiday shopping season but the stock price dropped after rival Tiffany (NYSE: TIF) cut its full year guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 764.

Upbeat Alcoa Forecast Boosts Markets

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An upbeat forecast by Alcoa boosted the markets during the midday with the Dow climbing 71 points to 12,464. Nasdaq gained 25 points to 2702.

On the upside

Nexen (NYSE: NXY) announced the immediate resignation of chief executive Marvin Romanow and appointed chief financial officer Kevin Reinhart as interim chief executive.  


BorgWarner (NYSE: BWA) forecast sharply higher 2012 earnings. 


Perfect World (Nasdaq: PWRD) denied allegations of fraud and will seek legal action against individuals making inaccurate, defamatory and malicious accusations.

On the downside


Liz Claiborne (NYSE: LIZ) lowered its 2012 adjusted earnings guidance and announced the departure of chief financial officer Andrew Warren on March 16.  


Goodyear Tire (NYSE: GT) discussed challenging trends at the 2012 Deutsche Bank Global Auto Industry Conference. 

  

PHH (NYSE: PHH) will offer $150 million in convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 762.

A widening of China's trade surplus lifted the markets to a higher open with the Dow gaining 92 points to 12,485. Nasdaq climbed 30 points to 2706.

On the upside

Lululemon Athletica (Nasdaq: LULU) lifted its fourth quarter earnings and revenue guidance as the company increased inventory.  


Regeneron Pharmaceuticals (Nasdaq: REGN) reported fourth quarter Eylea sales of $24 million to $25 million, nearly five times the amount expected by Cowen & Co. analyst Phil Nadeau. 


Cirrus Logic (Nasdaq: CRUS) reported higher third quarter revenue that surpassed analyst expectations and forecast fourth quarter sales ahead of estimates.

On the downside


Health Management Associates (NYSE: HMA) raised its fourth quarter outlook but investors focused on a lawsuit filed by a former employee.  


WebMD (Nasdaq: WBMD) ended discussions to sell itself to several potential suitors and announced the resignation of chief executive Wayne T. Gattinella. 

  

Tiffany (NYSE: TIF) cut its full year sales outlook as holiday sales growth slowed.

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 rose 3 points to 753.

The markets closed modestly higher with the Dow rising 32 points to 12,392 as earnings season began with aluminum producer Alcoa meeting expectations. Nasdaq gained 2 points to 2676.

On the upside

Netflix (Nasdaq: NFLX) launched its subscription Internet streaming service in the United Kingdom and Ireland.  


A Seeking Alpha contributor listed Elan (NYSE: ELN) as one of thirty stocks expected to beat the S&P 500 by 5 points. 


The Food and Drug Administration reversed itself and will now allow women of child bearing age to use Vivus' (Nasdaq: VVUS) experimental weight loss treatment Qnexa.

On the downside


A blog on Chinese social networking site Tianya alleged that Perfect World (Nasdaq: PWRD) was under investigation for fraud.  


IPC The Hospitalist (Nasdaq: IPCM) cut its fourth quarter outlook. 

  

CL King downgraded Steris (NYSE: STE) to a Sell rating.

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 rose 3 points to 753.

The markets traded in a narrow range during the midday with the Dow gaining 24 points to 12,384 as cautious investors awaited earnings news. Nasdaq added 3 points to 2677.

On the upside

Stifel Nicolaus expects Juniper Networks (NYSE: JNPR) to report earnings that met expectations.  


Bristol-Myers Squibb's (NYSE: BMY) $2.5 billion acquisition of Inhibitex (Nasdaq: INHX) lifted shares of rival hepatitis C treatment maker Achillion Pharmaceuticals (Nasdaq: ACHN) and Vertex Pharmaceuticals (Nasdaq: VRTX). 


Shares of Dendreon (Nasdaq: DNDN) continued climbing after reporting better than expected sales of its prostate cancer drug Provenge last week.

On the downside


Macquarie Group analyst Ben Schachter raised concerns last week that revenues for online games company Zynga (Nasdaq: ZNGA) are generated from only a small segment of its users.  


CRT Capital Group analyst Sheryl Skolnick wrote that a former Health Management Associates (NYSE: HMA) employee filed a lawsuit against the company in October. 

  

Astellas Pharma will no longer market Theravance's (Nasdaq: THRX) antibiotic Vibativ.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 752.

The markets opened higher with the Dow rising 30 points to 12,390 as corporations began releasing earnings. Nasdaq gained 7 points to 2681.

On the upside

Inhibitex (Nasdaq: INHX) will be acquired by Bristol-Myers Squibb (NYSE: BMY) for approximately $2.5 billion in cash.  


Idenix Pharmaceuticals (Nasdaq: IDIX) reported positive interim data for its hepatitis C treatment IDX184 and will begin a phase I clinical trial of IDX719. 


Human Genome Sciences (Nasdaq: HGSI) reported 2011 gross sales of $59.2 million for its systemic lupus treatment Benlysta.

On the downside


CareFusion (NYSE: CFN) reported preliminary second quarter results that fell short of analyst expectations.  


GlaxoSmithKline (NYSE: GSK) and Theravance (Nasdaq: THRX) completed Phase III studies for their once-a-day chronic obstructive pulmonary disease treatment Relovair but safety questions were raised after reports of pneumonia-related deaths. 

  

GameStop (NYSE: GME) disappointed with flat holiday sales.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 750.

The value of the euro fell to temper enthusiasm for a drop in the nation's unemployment rate. The markets closed mixed with the Dow losing 55 points to 12,359 while Nasdaq added 4 points to 2674.

On the upside

Jazz Pharmaceuticals (Nasdaq: JAZZ) forecast 2012 full year results ahead of analyst expectations.  


Greenbrier Companies (NYSE: GBX) reversed year ago losses to post a better than expected profit for the first quarter as revenue more than doubled. 


Stephens upgraded Krispy Kreme Doughnuts (NYSE: KKD) to an Overweight rating.

On the downside


Shares of Canadian oil and gas company Talisman Energy (Nasdaq: TLM) fell after Canada reported disappointing December jobs data.  


SmartMoney noted that two different analysts maintain a Sell rating on MEMC Electronic Materials (NYSE: WFR). 

  

RF Micro Devices' (Nasdaq: RFMD) earnings warning weighed down shares of rival Spreadtrum Communications (Nasdaq: SPRD) .

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 749.

The markets traded mixed during the midday with the Dow losing 39 points to 12,376 despite a drop in the nation's unemployment rate as investors digested the upbeat data amidst the European debt crisis. Nasdaq rose 7 points to 2676.

On the upside

Shares of Netflix (Nasdaq: NFLX) continued to advance after reporting impressive Internet streaming data on Wednesday.  


US News & World Report listed Weight Watchers (NYSE: WTW) again as the Best Weight-Loss Diet and Best Commercial Diet Plan on its second annual Best Diets rankings. 


Commercial Metals (NYSE: CMC) reported sharply higher first quarter earnings that surpassed analyst expectations.

On the downside


Durect (Nasdaq: DRRX) reported that its pain medication Posidur failed a Phase III clinical trial.  


Family Dollar Stores (NYSE: FDO) reported higher first quarter earnings but revenue missed analyst expectations. 

  

Muddy Waters questioned Focus Media's (Nasdaq: FMCN) acquisition of a ginseng plantation.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 752.

The nation's unemployment rate fell in December but the markets opened lower with the Dow falling 52 points to 12,363 as global economic concerns continued to weigh on investors. Nasdaq eased a point to 2668.

On the upside

Shares of Dendreon (Nasdaq: DNDN) continued climbing after announcing yesterday that sales of its prostate cancer treatment Provenge surpassed expectations.  


Sandridge Eenrgy (NYSE: SD) filed yesterday for the initial public offering of SandRidge Mississippian Trust II. 


Bargain hunters lifted shares of Barnes & Noble (NYSE: BKS) whose stock price tumbled yesterday when the book seller said that it may spin off its Nook e-reader business.

On the downside


RF Micro Devices (Nasdaq: RFMD) warned that third quarter revenue will fall short of expectations prompting downgrades.  


Vical (Nasdaq: VICL) priced its public offering of approximately 13 million common shares at the discounted price of $3.75 per share. 

  

Synta (Nasdaq: SNTA) priced its public offering of 7 million shares of common stock at the discounted price of $4.40 per share.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 749.

The markets closed flat with the Dow slipping 2 points to 12,415 as mixed retail sales figures tempered upbeat jobs data. Nasdaq climbed 21 points to 2669.

On the upside

Sirius XM (Nasdaq: SIRI) added approximately 1.7 million subscribers in 2011 bringing its total to nearly 21.9 million subscribers.  


Rumors that the federal government may introduce a plan to jumpstart mortgage refinancing lifted shares of Bank of America (NYSE: BAC). 

CNBC said that PulteGroup (NYSE: PHM) may rebound the most among homebuilders in 2012.

On the downside


Marathon Petroleum (NYSE: MPC) shut down the platformer and udex units at its Texas City refinery on January 4.  


Shares of Credit Suisse (NYSE: CS) fell after weekly magazine Weltwoche accused Switzerland's central bank chairman Philipp M. Hildebrand of insider trading. 

  

Jefferies & Co. downgraded Globe Specialty Metals (Nasdaq: GSM) and cut its price target from $22.50 to $16.

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 gained 5 points to 752.

Although the nation's service sector expanded more than expected in December, European debt concerns continued to weigh on investors. The markets traded mixed during the midday with the Dow losing 19 points to 12,398 while Nasdaq gained 14 points to 2662.

On the upside

InterMune (Nasdaq: ITMN) reported that its idiopathic pulmonary fibrosis treatment Esbriet has generated approximately $2.8 million in sales in Germany since its mid-September launch.  


December same store sales climbed 3.6% for Rite Aid (NYSE: RAD). 

Wedbush upgraded LSI (NYSE: LSI) to an Outperform rating and lifted its price target to $8.50 per share from $7 per share.

On the downside


MetroPCS (NYSE: PCS) reported a disappointing subscriber growth of 197,000 in the fourth quarter.  


J.C. Penney (NYSE: JCP) warned of losses for the fourth quarter after December same store sales edged up less than the department store expected. 

  

Shares of Banco Santander (NYSE: STD) fell after Spain said that their banking industry must raise an additional 50 billion euros to cover bad property assets.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 750.

Despite a drop in first time applications for unemployment benefits, the markets opened lower with the Dow falling 78 points to 12,340 over continued concerns about the European debt crisis. Nasdaq slipped 2 points to 2646.

On the upside

Seagate Technology (Nasdaq: STX) lifted its second quarter revenue guidance and forecast third quarter results above analyst expectations.  


Dendreon (Nasdaq: DNDN) reported preliminary fourth quarter sales of its prostate cancer treatment Provenge that were better than analyst expectations. 

Credit Suisse analyst Kulbinder Garcha upgraded Nokia (NYSE: NOK) to an Outperform rating.

On the downside


Barnes & Noble (NYSE: BKS) lowered its full year outlook and said that it is exploring options for its Nook e-book reader business including the possibility of spinning off the unit.  


American Eagle Outfitters (NYSE: AEO) cited more aggressive promotions for lowering its fourth quarter earnings guidance. 

  

Tesoro (NYSE: TSO) warned of losses for the fourth quarter due to lower margins.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 737.

The markets recovered earlier losses to close flat with the Dow rising 21 points to 12,418 despite lingering concerns about the European debt crisis as investors welcomed a rebound in November factory orders. Nasdaq eased a fraction to 2648.

On the upside

Netflix (Nasdaq: NFLX) subscribers streamed an impressive two billion plus hours of television shows and movies in the fourth quarter.  


Liz Claiborne (NYSE: LIZ) will change its name to Fifth & Pacific as the clothing retailer reorganizes to focus on three premium global lifestyle brands. 

Magnum Hunter Resources (NYSE: MHR) chairman and chief executive Gary C. Evans presented today at the Pritchard Capital Partners Energize 2012 Conference in San Francisco.

On the downside


MetroPCS (NYSE: PCS) will begin offering cellphones with the capability to receive live local television broadcasts but analysts questioned whether demand exists for such a service.  


While Motley Fool said that Alcatel-Lucent (NYSE: ALU) is not likely to file for bankruptcy in 2012, the company must pursue a path to profitability. 

  

Edward Lampert's hedge fund ESL Investments lowered its stake in AutoNation (NYSE: AN) to 52.5% from 56.4%.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 747.

The markets traded lower during the midday with the Dow losing 22 points to 12,374 as European debt concerns overshadowed a gain in November factory orders. Nasdaq slipped 7 points to 2641.

On the upside

Autocar India editor Hormazd Sorabjee said that Bajaj Auto's new four wheeler RE60 would be no threat to Tata Motors' (NYSE: TTM) Nano.  


InterMune (Nasdaq: ITMN) will report unaudited fourth quarter revenue from Esbriet sales in Germany tomorrow before market open. 

Bargain hunters lifted share of MGIC Investment (NYSE: MTG), whose stock price tumbled yesterday when the company announced a $200 million contribution to its mortgage unit in order to continue writing policies.

On the downside


A Seeking Alpha contributor noted that short sellers have targeted BroadSoft (Nasdaq: BSFT) while hedge funds have been acquiring shares of the software provider for Internet protocol based networks.  


The Securities and Exchange Commission filed suit against Life Partners Holdings (Nasdaq: LPHI) for defrauding shareholders. 

  

Progress Software (Nasdaq: PRGS) reported sharply lower fourth quarter earnings and forecast current quarter results well below analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 747.

Durable goods orders rose less than expected in December to weigh the markets down to a lower open with the Dow losing 55 points to 12,341. Nasdaq fell 21 points to 2627.

On the upside

TiVo (Nasdaq: TIVO) will receive $215 million from AT&T (NYSE: T) to settle a patent infringement suit.  


Goldman Sachs analyst Michelle Tan added Lululemon Athletica (Nasdaq: LULU) to the company's conviction buy list. 

The Paragon Report said that oil companies with little or no exposure to the Middle East such as Hyperdynamics (NYSE: HDY) will benefit from higher oil prices.

On the downside


Acme Packet (Nasdaq: APKT) forecast fourth quarter results below analyst estimates and cut its full year guidance citing uncertainty in the North American service provider market.  


Private investment funds will sell more than 21 million shares of Ventas (NYSE: VTR) common stock. 

  

Amarin (Nasdaq: AMRN) priced its offering of $150 million in exchangeable senior notes at an initial exchange price of approximately $8.81 per American Depositary Share.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 745.

November construction spending jumped to lift the markets to a sharply higher close with the Dow surging 179 points to 12,397. Nasdaq soared 43 points to 2648.

On the upside

Bargain hunters lifted shares of A123 Systems (Nasdaq: AONE), whose stock price fell last week after a battery defect prompted Fisker to recall 239 Karma electric sports cars.  


Rising crude oil prices lifted shares of oilfield services firm RPC (NYSE: RES). 

Shares of U. S. Gold (NYSE: UXG) rose as gold prices climbed.

On the downside


The Denver Business Journal listed Pilgrim's Pride (NYSE: PETD) as one of ten Colorado stocks that rebounded last year but the stock price fell.  


Citigroup analyst Gary Taylor cited possible cuts in government funding for issuing a negative outlook on hospital stocks sending shares of Kindred Healthcare (NYSE: KND) lower. 

  

Telestone Technologies (Nasdaq: TSTC) lowered its full year revenue guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 752.

A gain in December manufacturing activity boosted the markets during the midday with the Dow soaring 183 points to 12,401. Nasdaq climbed 38 points to 2643.

On the upside

Barclays Capital upgraded Micron Technology (Nasdaq: MU) to an Overweight rating.  


A cut in the inflation forecast for Brazil prompted speculation that lower borrowing costs will entice more consumers to purchase new homes. Shares of homebuilder Gafisa (NYSE: GFA) rose. 

Shares of e-Commerce China Dangdang (NYSE: DANG) rose in anticipation of the release of its e-reader this year.

On the downside


Canaccord Genuity lowered its price target on Universal Display (Nasdaq: PANL) and cut its license revenue assumption from client Samsung.  


Janney Capital Markets analyst David Strasser downgraded Williams-Sonoma (NYSE: WSM) to a Sell rating. 

  

Analysts lowered their price target on FirstEnergy (NYSE: FE).

In the broad market, advancing issues outpaced decliners by a margin of 7 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 750.

The first trading day of 2012 started strong with the Dow leaping 248 points to 12,465 as investors embraced indications that the Chinese economy may be improving. Nasdaq soared 57 points to 2662.

On the upside

Trefis affirmed its $7 price target on Nokia (NYSE: NOK) in anticipation of the launch of the company's Lumia 710 smartphone in the U. S. on January 11.  


Motley Fool writer Matt Koppenheffer listed Arcelor Mittal (NYSE: MT) as one of three stocks expected to post strong gains in 2012. 

Motley Fool expects STMicroelectronics (NYSE: STM) to experience a high five year growth rate.

On the downside


Aveo Pharmaceuticals (Nasdaq: AVEO) reported that its experimental kidney cancer treatment tivozanib was more effective than Onyx Pharmaceuticals' (Nasdaq: ONXX) Nexavar but the stock price dropped.  


A Seeking Alpha contributor wrote that Philip Morris (NYSE: PM) was a better investment than Altria Group (NYSE: MO). 

  

MGIC Investment (NYSE: MTG) added $200 million to its insurance unit Mortgage Guaranty in order to continue writing new policies.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 758.

U. S. Markets Closed

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U. S. Markets are closed in observance of New Year's Day

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