May 2012 Archives

A downward revision of the nation's economy in the first quarter weighed the markets down to a lower close with the Dow losing 26 points to 12,393. Nasdaq fell 10 points to 2827.

On the upside

Flower Foods (NYSE: FLO) will pay approximately $370 million in cash and stock to acquire Lepage Bakeries.


Galena Biopharma (Nasdaq: GALE) appointed Gabriel N. Hortobagyi, M.D., F.A.C.P., to its Scientific Advisory Board.


Rosetta Genomics (Nasdaq: ROSG) will present clinical trial data from two miRview products at the American Society of Clinical Oncology 2012 Annual Meeting in Chicago from June 1-5, 2012.


On the downside


National Bank of Greece (NYSE: NBG) posted significant first quarter losses as loan loss provisions ballooned.


Goldman Sachs analyst Donald Lu downgraded United Microelectronics (NYSE: UMC) to a Sell rating.

  

Kohl's (NYSE: KSS) disappointed with a 4.2% drop in May same store sales.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 761.

The markets traded mixed during the midday with the Dow adding 5 points to 12,425 as investors weighed rising jobless claims against falling mortgage rates. Nasdaq fell 12 points to 2824.

On the upside

MicroVision (Nasdaq: MVIS) will supply Pioneer with $4 million worth of its next generation HD PicoP display technology.


Endeavour International (NYSE: END) completed the acquisition of the additional 23.43% working interest in the Alba field from Conoco Phillips.


National Oilwell Varco will pay approximately CAD$240 million to acquire CE Franklin (Nasdaq: CFK).


On the downside


The Buckle (NYSE: BKE) disappointed with a mere 0.2% increase in May same store sales.


Arch Coal (NYSE: ACI) subsidiary Arch Western Finance redeemed $450 million worth of senior notes due 2013.

  

Shares of U. S. Steel (NYSE: X) dropped after WP Steel filed for Chapter 11 bankruptcy protection.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 758.

First time applications for unemployment benefits rose more than expected last week to weigh the markets down to a lower open with the Dow dropping 64 points to 12,355. Nasdaq plunged 31 points to 2805.

On the upside

Sycamore Partners will pay approximately $193.3 million in cash to take Talbots (NYSE: TLB) private, a lower price than originally offered before acquisition negotiations between the parties ended last week.


Ciena (Nasdaq: CIEN) narrowed second quarter losses more than expected as revenue rose.


Gaylord Entertainment (NYSE: GET) will sell its Gaylord hotel brand and hotel management company to Marriott International (NYSE: MAR) for $210 million in cash.


On the downside


Joy Global (NYSE: JOY) reported higher second quarter earnings and revenue but the mining equipment maker cut its earnings guidance for 2012.


Chelsea Therapeutics (Nasdaq: CHTP) will halt development of its rheumatoid arthritis treatment CH-4051 after the drug failed a mid-stage clinical trial.

  

Jefferies cut its price target on DryShips (NYSE: DRYS) from $3 to $2.50.

In the broad market, declining issues outpaced advancers 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 tumbled 9 points to 752.

Euro Zone Concerns Sink Stocks

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Euro zone concerns along with a surprise decline in pending home sales sent the markets tumbling to a sharply lower close with the Dow plummeting 160 points to 12,419. Nasdaq sank 33 points to 2837.

On the upside

Bargain hunters lifted shares of VeriFone Systems (NYSE: PAY).


Four clients extended their contracts with FuelCell Energy (Nasdaq: FCEL).


EnerSys (NYSE: ENS) reported sharply higher fourth quarter earnings.


On the downside


CRT Capital Group and UBS both downgraded Patriot Coal (NYSE: PCX).


A Seeking Alpha contributor wrote that EXCO Resources (NYSE: XCO) was a good stock to short.

  

Investors locked in profits of USG (NYSE: USG) whose stock price rose yesterday after Longbow upgraded building materials company.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 15 points to 762.

An unexpected drop in pending home sales sent the markets tumbling during the midday with the Dow slumping 163 points to 12,416. Nasdaq plunged 45 points to 2825.

On the upside

NCI (Nasdaq: NCI) was awarded the Chief Information Officers-Solutions and Partners Government Wide Acquisition Contract.


Fourth quarter earnings more than doubled for Booz Allen (NYSE: BAH) to surpass analyst expectations.


The Fresh Market (Nasdaq: TFM) reported higher first quarter earnings and revenue that beat expectations.


On the downside


Perfect World (Nasdaq: PWRD) disappointed with lower first quarter earnings.


Teavana (NYSE: TEA) reported flat first quarter earnings but revenue fell short of expectations and the company forecast current quarter revenue below estimates.

  

Deutsche Bank downgraded Frontline (NYSE: FRO) to a Sell rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 13 points to 763.

The markets opened sharply lower with the Dow plunging 130 points to 12,450 as bond yields climbed in Italy and Spain. Nasdaq plummeted 33 points to 2837.

On the upside

Neonade (Nasdaq: NEON) will present at Cowen & Co.'s 40th Annual Technology, Media and Telecom Conference this afternoon in New York.


Monsanto (NYSE: MON) raised its earnings outlook for fiscal 2012 due to strong sales.


A Seeking Alpha contributor listed Vishay Technology (Nasdaq: VSH) as one of four undervalued small cap stocks with a large reserve of cash.


On the downside


Private equity firm Gores Group cancelled a $791 million offer to acquire Pep Boys Manny, Moe & Jack (NYSE: PBY).


Research in Motion (Nasdaq: RIMM) warned of losses for the first quarter and announced that it retained the services of JPMorgan and RBC Capital to explore strategic options.

  

Tata Motors (NYSE: TTM) reported sharply higher fourth quarter earnings but operating margin in its UK unit fell sequentially.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 766.

Optimism that China will announce additional economic stimulus measures sent the markets soaring to a sharply higher close with the Dow leaping 125 points to 12,580. Nasdaq surged 33 points to 2870.

On the upside

An InvestorVillage contributor noted that Microvision (Nasdaq: MVIS) was an undervalued growth company.


Rising polysilicon prices lifted shares of MEMC Electronic Materials (NYSE: WFR).


Santarus (Nasdaq: SNTS) will present at the Jefferies 2012 Global Healthcare Conference on Tuesday, June 5.


On the downside


Shares of Talbots (NYSE: TLB) continued falling after announcing on Friday that Sycamore Partners ended acquisition discussions with the women's apparel retailer.


William Blair downgraded Complete Genomics (Nasdaq: GNOM).

  

Cleveland Research said that April same store sales slowed for Tractor Supply (Nasdaq: TSCO).

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 10 points to 777.

The markets retreated from early morning highs during the midday but continued to trade in positive territory with the Dow climbing 81 points to 12,536 as investors weighed the impact of falling consumer confidence. Nasdaq gained 12 points to 2849.

On the upside

Bargain hunters lifted shares of VimpelCom (NYSE: VIP) whose stock price plunged last week after the Russian Court prohibited the telecom from issuing dividends.


BMO Capital Markets upgraded Terex (NYSE: TEX) to an Outperform rating.


J. P. Morgan upgraded Spreadtrum Communications (Nasdaq: SPRD) to an Overweight rating.


On the downside


Shares of Facebook (Nasdaq: FB) continued falling which dragged down Zynga (Nasdaq: ZNGA) stock.


The Commerce Department's proposal to impose antidumping tariffs on Chinese solar stocks continued to weigh down LDK Solar (NYSE: LDK).

  

Shares of Internet radio service Pandora Media (NYSE: P) fell after Samsung introduced a new music service for its flagship Galaxy S3 smartphone in Europe.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 771.

Consumer confidence tumbled in May but the markets opened sharply higher with the Dow leaping 153 points to 12,608 over speculation that China may announce additional stimulus measures. Nasdaq jumped 43 points to 2880.

On the upside

Teledyne Technologies (NYSE: TDY) will acquire LeCroy (Nasdaq: LCRY) in a deal valued at approximately $291 million.


Interline Brands (NYSE: IBI) agreed to be taken private by GS Capital Partners and P2 Capital Partners in a deal valued at approximately $1.1 billion including the assumption of debt.


Goldman Sachs upgraded Peabody Energy (NYSE: BTU) to a Buy rating with a $37 price target.


On the downside


Vertex Pharmaceuticals (Nasdaq: VRTX) corrected previously released data from an interim analysis of a Phase 2 clinical trial of its cystic fibrosis treatments VX-809 and Kalydeco.


VeriFone (NYSE: PAY) responded to investor questions by releasing additional detailed cash flow data.

  

Shares of Banco Santander (NYSE: STP) fell after the announcement of a $24 billion government bailout of Spain's third largest bank Bankia.

In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 776.

U. S. Markets Closed

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

Despite a greater than expected increase in consumer sentiment, the markets closed lower with the Dow dropping 74 points to 12,454 over fears that Greece may exit the euro zone. Nasdaq slipped a point to 2837.

On the upside

Frontline (Nasdaq: FRO) swung to a better than expected profit for the first quarter.


Bollinger Report selected Career Education (Nasdaq: CECO) as a high momentum stock among the service industry.


Axcelis Technologies (Nasdaq: ACLS) affirmed its second quarter outlook.


On the downside


TheStreet Ratings downgraded Maxwell Technologies (Nasdaq: MXWL) to a Sell rating.


LDK Solar (NYSE: LDK) chief executive Peng Xiaofeng said that U. S. tariffs on Chinese solar imports would be challenging.

  

HSBC lowered its price target on Suntech Power Holdings (NYSE: STP).

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 766.

The markets traded mixed during the midday with the Dow falling 43 points to 12,486 as French banks prepared for the possibility of Greece leaving the euro zone. Nasdaq added 3 points to 2842.

On the upside

Stockpickr listed Pacific Biosciences of California (Nasdaq: PACB) as one of seven stocks under $10 that moved higher yesterday.


Neptune Technologies & Bioressources (Nasdaq: NEPT) narrowed fourth quarter losses as revenue climbed.


Uroplasty (Nasdaq: UPI) narrowed losses for the fourth quarter as revenue rose.


On the downside


The Moscow Arbitration Court issued an injunction order that prohibits VimpelCom (NYSE: VIP) from paying dividends to shareholders.


Profit taking sank shares of Rosetta Genomics (Nasdaq: ROSG).

  

Mentor Graphics (Nasdaq: MENT) reversed year ago losses to post a profit for the first quarter but revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 768.

Concerns about the deepening banking crisis in Spain weighed the markets down to a lower open with the Dow losing 36 points to 12,493. Nasdaq slipped 7 points to 2831.

On the upside

Bloomberg reported that billionaire investor Carl Icahn acquired a 4% stake in Chesapeake Energy (NYSE: CHK).


An increase in April mattress sales lifted shares of Tempur-Pedic (NYSE: TPX).


Complete Genomics (Nasdaq: GNOM) advanced for the fourth day.


On the downside


Delcath Systems (Nasdaq: DCTH) priced its public offering of more than 13 million common shares at the discounted price of $1.50 per share.


VeriFone (NYSE: PAY) reported sharply lower second quarter earnings and forecast third quarter results below estimates.

  

Talbots (NYSE: TLB) suitor Sycamore Partners ended acquisition negotiations with the women's apparel retailer.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 767.

The markets closed mixed with the Dow rising 33 points to 12,529 as investors weighed the impact of a shrinking manufacturing sector in China against retreating crude oil prices. Nasdaq lost 10 points to 2839.

On the upside

First quarter earnings slipped for Flower Foods (NYSE: FLO) as expenses climbed but revenue rose to top analyst expectations and the bakery products company forecast full year earnings ahead of estimates.


Stockpickr noted that Vermillion (Nasdaq: VRML) was one of seven stocks under $10 that surged higher.


STR Holdings (NYSE: STRI) shareholders appointed PricewaterhouseCoopers to be the company's independent registered public accounting firm and elected nine individuals to the Board of Directors.


On the downside


Greenlight Capital sold its holdings in OmniVision Technologies (Nasdaq: OVTI).


LDK Solar (NYSE: LDK) affirmed its commitment to delivering high quality products at competitive prices despite being subject to a preliminary antidumping tariff rate of 31.18% in the United States.

  

Monro Muffler Brake (Nasdaq: MNRO) reported higher fourth quarter earnings and revenue but the automotive repair company forecast first quarter results that fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 766.

Further contraction of the British economy weighed the markets down during the midday with the Dow losing 32 points to 12,463. Nasdaq fell 18 points to 2831.

On the upside

Genetic Technologies (Nasdaq: GENE) continued soaring after announcing increasing sales of its breast cancer risk test BREVAGen on Tuesday.


Shares of Rosetta Genomics (Nasdaq: ROSG) surged again over acquisition speculation.


First quarter earnings soared for PVH (NYSE: PVH) to beat expectations prompting the apparel retailer to lift its full year guidance.


On the downside


Signet Jewelers (NYSE: SIG) reported higher first quarter earnings but revenue fell short of estimates and the jewelry retailer forecast second quarter income that missed analyst expectations.


A Seeking Alpha contributor recommended that investors avoid Patriot Coal (NYSE: PCX) saying that the company could file for bankruptcy.

  

A Seeking Alpha contributor calculated Alpha Natural Resources' (NYSE: ANC) Altman Z-score as indicating a very high likelihood of bankruptcy.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by a 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 762.

First time applications for unemployment benefits slipped more than expected last week to lift the markets to a higher open with the Dow rising 33 points to 12,530. Nasdaq added 2 points to 2853.

On the upside

Hewlett-Packard (NYSE: HPQ) reported lower second quarter revenue and earnings but the results beat expectations and the company announced plans to eliminate 27,000 positions in order to save $3 billion per year.


Pandora Media (NYSE: P) widened first quarter losses but the results were better than expected and the online radio service forecast full year results ahead of estimates.


Airline stocks were upgraded on lower fuel costs and strong demand. Shares of Delta Air Lines (NYSE: DAL) and US Airways Group (NYSE: LCC) rose.


On the downside


Analysts downgraded NetApp (Nasdaq: NTAP) after the company forecast first quarter results well below expectations.


Tiffany & Co. (NYSE: TIF) reported flat first quarter earnings that missed estimates and cut its full year earnings and revenue guidance.

  

A Seeking Alpha contributor wrote that EMC (NYSE: EMC) had an upside potential of 10% but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by a more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 763.

The markets closed flat with the Dow slipping 6 points to 12,496 while Nasdaq rose 11 points to 2850. Retreating crude oil prices and stronger than expected new home sales tempered Eurozone fears.

On the upside

A Seeking Alpha contributor wrote yesterday that Westport Innovations (Nasdaq: WPRT) had a substantially larger patent portfolio than its competitors.


Goldcorp (NYSE: GG) was declared a steal by a Seeking Alpha contributor.


Talbots (NYSE: TLB) extended acquisition discussions with Sycamore Partners for the second time.


On the downside


A Seeking Alpha article noted that Nokia's (NYSE: NOK) cash reserves plunged by $2.1 billion over the last five quarters and analysts expect the company to burn another $2.5 billion in the next three quarters.


Ralcorp Holdings (NYSE: RAH) reported lower second quarter earnings even as revenue increased.

  

Shares of Hugoton Royalty Trust (NYSE: HGT) continued falling.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by a nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 765.

The markets extended its losses during the midday with the Dow slumping 159 point to 12,343 as European economic concerns trumped a gain in new home sales. Nasdaq plummeted 32 points to 2807.

On the upside

PetSmart (Nasdaq: PETM) reported sharply higher first quarter earnings that surpassed analyst expectations as revenue rose and lifted its full year guidance.


First quarter earnings dropped for Guess (NYSE: GES) but the results beat expectations.


Five Star Equities expects large pharmaceuticals to explore acquiring biotechnology firm Rosetta Genomics (Nasdaq: ROSG).


On the downside


Piper Jaffray analyst Mark Murphy expects billings growth to slow which sent shares of Red Hat (NYSE: RHT) tumbling.


Shares of Galena Biopharma (Nasdaq: GALE) continued falling after TheStreet questioned the effectiveness of the company's breast cancer vaccine NeuVax yesterday.

  

Investors locked in profits on Radian Group (NYSE: RDN) whose stock price spiked recently over acquisition rumors.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by a nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 9 points to 750.

The falling euro sent the markets tumbling to a sharply lower open with the Dow plummeting 156 point to 12,346. Nasdaq plunged 31 points to 2807.

On the upside

Transtelco will conduct a trial of Alcatel-Lucent's (NYSE: ALU) CloudBand solution featuring higher connection speeds and bandwidth.


The Wall Street Journal reported that Patriot Coal (NYSE: PCX) was exploring refinancing options with Blackstone Group.


Recon Technology (Nasdaq: RCON) announced a contract valued at more than $3.02 million to provide China National Petroleum with the Emerson PCS & SIS Systems in its South Yolotan Gas Field Project.


On the downside


Dell (Nasdaq: DELL) disappointed with lower first quarter earnings that fell short of analyst expectations and forecast lower current quarter revenue below estimates.


Shares of Hewlett-Packard (NYSE: HPQ) fell ahead of its earnings release after market close and the anticipated layoff of 25,000 employees.

  

Qihoo 360 Technology (NYSE: QIHU) reversed year ago losses to post a better than expected profit for the first quarter as revenue surged but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by a nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 7 points to 752.

The markets closed flat with the Dow easing 1 point to 12,502 despite a strong gain in existing home sales as Fitch downgraded Japan's sovereign credit rating. Nasdaq lost 8 points to 2839.

On the upside

SAP will pay a premium of approximately $4.3 billion to acquire Ariba (Nasdaq: ARBA).


Old Republic International (Nasdaq: ORI) sold a 20.6% stake in its wholly owned subsidiary Republic Financial Indemnity Group.


DSW (NYSE: DSW) reversed year ago losses to post a better than expected profit for the first quarter.


On the downside


Motley Fool's investing community expects MEMC Electronic Materials (NYSE: WFR) to outperform the S&P 500 but the stock price fell.


Shares of James River Coal (Nasdaq: JRCC) fell despite analyst Michael Dudas' recommendation yesterday to purchase shares of the stock.

  

Profit taking sank shares of CVR Energy (NYSE: CVI), whose stock price climbed yesterday on news that billionaire investor Carl Icahn increased his stake in the nitrogen fertilizer company to 80%.

In the broad market, advancing issues barely edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by a margin of more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 759.

The markets retreated from early morning highs but continued to trade in positive territory during the midday with the Dow rising 37 points to 12,541 as existing homes sales advanced in April. Nasdaq added 2 points to 2849.

On the upside

Shares of Radian (NYSE: RDN) continued climbing after major shareholder Clinton Group said yesterday that a company expressed interest in acquiring the mortgage insurer.


Urban Outfitters (Nasdaq: URBN) reported lower first quarter earnings but the results topped analyst estimates.


Twice as many Business Insider readers share links every day on LinkedIn (NYSE: LNKD) rather than on Google+.


On the downside


Shares Patriot Coal (NYSE: PCX) plunged over bankruptcy concerns.


A Seeking Alpha contributor listed Seagate Technology (Nasdaq: STX) as one of five dividend stocks that are expected to double their payouts within five years but the stock price fell.

  

Investors locked in profits on Arch Coal (NYSE: ACI) whose stock price climbed yesterday on an analyst recommendation to buy coal stocks.

In the broad market, advancing issues outpaced decliners by a margin of more than 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 edged up a fraction to 765.

Higher Open As Home Sales Rise

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Sales of previously owned homes rose in April to lift the markets to a higher open with the Dow gaining 56 points to 12,561. Nasdaq climbed 15 points to 2862.

On the upside

Angelo Gordon & Co. will take Benihana (Nasdaq: BNHN) private in a deal valued at approximately $296 million.


Ralph Lauren (NYSE: RL) reported higher fourth quarter earnings that surpassed analyst expectations as revenue climbed and the clothing company doubled its quarterly dividend.


Global Hunter Securities initiated coverage of DryShips (Nasdaq: DRYS) with a Buy rating.


On the downside


Facebook (Nasdaq: FB) stock continued falling on its third day of trading.


First quarter earnings rose for Express (NYSE: EXPR) but the results fell short of expectations prompting the apparel retailer to lower its full year outlook.

  

Cree (Nasdaq: CREE) chief financial officer John Kurtzweil resigned yesterday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 769.

China's assertion that it will increase consumption in order to improve the global economy lifted the markets to a sharply higher close with the Dow leaping 135 points to 12,504. Nasdaq surged 68 points to 2847.

On the upside

A Seeking Alpha contributor wrote that Magnum Hunter Resources (NYSE: MHR) was a good buy after its recent price drop.


Krispy Kreme Doughnuts (NYSE: KKD) reported lower first quarter earnings but the results were better than expected.


Amyris (Nasdaq: AMRS) raised $4.1 million on Friday through the sale of more than 1.7 million common shares in a private placement.


On the downside


Shares of Sturm, Ruger & Co. (NYSE: RGR) dropped after rival Smith & Wesson (NYSE: SWHC) posted strong first quarter results that beat expectations.


Bank of America (NYSE: BAC) chief executive Brian Moynihan reassured investor conference attendees that he was comfortable with investments made by the bank but the stock price fell.

  

Shares of Chinese social networking site Renren (Nasdaq: RENN) continued falling after Facebook (Nasdaq: FB) shares tanked on its second day of trading.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 17 points to 764.

The Group of Eight vowed over the weekend to promote global economic growth. The markets advanced during the midday with the Dow soaring 92 points to 12,461 while Nasdaq jumped 53 points to 2832.

On the upside

Radian Group (NYSE: RDN) shareholder Clinton Group requested that Radian provide detailed historical information about legacy mortgage and financial businesses.


Goodrich Petroleum (NYSE: GDP) declared a quarterly dividend of $0.6719 per share on its 5.375% Series B Cumulative Convertible Preferred Stock payable on June 15, 2012 to shareholders of record June 1, 2012.


JMP Securities said that Westport Innovations (Nasdaq: WPRT) still has an attractive valuation.


On the downside


Hugoton Royalty Trust (NYSE: HGT) declared a quarterly cash distribution of $0.052539 per unit payable on June 14, 2012 to shareholders of record May 31, 2012 but the stock price continued falling.


Shares of FriendFinder Networks (Nasdaq: FFN) continued falling as Facebook (Nasdaq: FB) tumbled on its second trading day.

  

GSV Capital (Nasdaq: GSVC), which holds pre-IPO Facebook (Nasdaq: FB) stock, extended its losses as shares of Facebook dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 13 points to 760.

The markets opened higher with the Dow climbing 87 points to 12,457 after the Group of Eight affirmed its commitment to stabilizing the European economy. Nasdaq soared 33 points to 2811.

On the upside

Eaton (NYSE: ETN) will pay approximately $11.8 billion in cash and stock to acquire Cooper Industries (NYSE: CBE).


American Eagle Outfitters (NYSE: AEO) will sell its money losing children's apparel unit 77kids.


Keryx Biopharmaceuticals (Nasdaq: KERX) announced a poster presentation for Zerenex at the 49th ERA-EDTA Congress.


On the downside


Shares of Facebook (Nasdaq: FB) tumbled below its IPO price of $38 on its second day of trading.


Lowe's (NYSE: LOW) reported higher first quarter earnings as revenue rose but the home improvement retailer trimmed its full year outlook.

  

Facebook's (Nasdaq: FB) falling stock price dragged down Zynga (Nasdaq: ZNGA).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 750.

May 18, 2012 will be remembered as a day of more hype than substance.  A flurry of frenzied activity marked the first 30 seconds of Facebook's (Nasdaq: FB) entry into the world of publicly traded companies with volume surging to more than 80 million shares.  By the end of the day, an IPO record of nearly 567 million shares were traded as investors clamored to own a piece of the social networking giant.  But the stock price hovered near its offering price.

"Facebook disappointed by going nowhere - the hype didn't carry it through," said Margaret M. Black-Scott, President & CEO of Beverly Hills Wealth Management. "What's next? Can Zuckerberg show that they have a truly disruptive product and gain traction in the after market. Our clients are waiting and hoping."

On Thursday, Facebook priced its IPO at $38 per share to raise $16 billion.  The stock opened higher at $42.05 and climbed to $45 only to retreat as the stock failed to catch fire.  The largest internet IPO ended the historic day up a modest 23 cents to close at $38.23.

Originally slated to sell 337 million shares, Facebook cited strong demand for increasing its offering to approximately 421 million shares barely two days before making its market debut.  Even with the added shares, the offering was greatly oversubscribed.

"Frankly, I think the excitement for Facebook is overdone," said Jason Raznick, CEO at Benzinga.com on Thursday. "I doubt that the stock will maintain the premium that has been building during the media frenzy. I'd be careful investing into it at the $38 IPO pricing."

Facebook founder and chief executive Mark Zuckerberg rang Nasdaq's opening bell this morning as investors eagerly awaited active trading of FB on the tech heavy exchange.  Zuckerberg sold 30.2 million of his shares which added $1.1 billion to his bank account.

Zuckerberg launched Facebook in 2004 as a Harvard sophomore with membership limited exclusively to Harvard students.  Membership was soon extended to other colleges and universities.  Facebook now boasts over 900 million users around the world.

Facebook reported 2011 revenue of $3.7 billion and profit of $1 billion.  With a valuation of approximately $104 billion, Facebook's P/E is a staggering 104.

The disappointing market debut of social networking giant Facebook weighed the markets down to a lower close with the Dow falling 73 points to 12,369. Nasdaq dropped 34 points to 2778.

On the upside

Bargain hunters snapped up shares of Clearwire (Nasdaq: CLWR).


Beazer Homes (NYSE: BZH) formed a real estate investment trust to acquire, refurbish and lease previously-owned single-family homes.


Rising gold prices lifted shares of AngloGold Ashanti (NYSE: AU).


On the downside


Online social games company Zynga (Nasdaq: ZNGA) tumbled after Facebook's (Nasdaq: FB) disappointing market debut.


Shares of JA Solar (Nasdaq: JASO) continued falling after the Commerce Department announced new tariffs yesterday on solar panel imports from China.

  

Mad Money's Jim Cramer rated Walter Energy (NYSE: WLT) a Sell.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 747.

The downgrade of five Greek banks weighed the markets down during the midday with the Dow losing 44 points to 12,397. Nasdaq fell 18 points to 2794.

On the upside

Facebook (Nasdaq: FB) opened above its IPO price of $38 and reached a high of $45 before slipping down to $40.98 at midday.


Rising natural gas prices lifted shares of Chesapeake Energy (NYSE: CHK).


Brown Shoe (Nasdaq: BWS) reported sharply lower first quarter earnings on higher markdowns but the results were better than expected.


On the downside


Profit taking sank shares of FriendFinder Networks (Nasdaq: FFN) whose stock price soared yesterday ahead of Facebook's (Nasdaq: FB) market debut.


Firsthand Technology Value Fund (Nasdaq: SVVC) and GSV Capital (Nasdaq: GSVC), which acquired stakes in Facebook (Nasdaq: FB) before the initial public offering, tumbled as shares of the social networking site failed to surge.

  

Schnitzer Steel Industries (Nasdaq: SCHN) warned that higher raw material expenses will pressure margins in the third quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 753.

The markets opened flat with the Dow adding 3 points to 12,446 while Nasdaq eased a point to 2812. Greece's downgrade further into junk territory tempered enthusiasm for Facebook's initial public offering.

On the upside

Technology blog AllThingsD reported that Yahoo (Nasdaq: YHOO) was finalizing details of plan to sell nearly half of its stake in Alibaba Group for approximately $7 billion.


CLSA Asia-Pacific Markets upgraded Salesforce.com (NYSE: CRM) to a Buy rating and lifted its price target to $180 from $160.


First quarter earnings for Foot Locker (NYSE: FL) soared to surpass analysts expectations as revenue rose.


On the downside


Autodesk (Nasdaq: ADSK) reported higher first quarter earnings and revenue but warned that second revenue will fall short of analyst expectations.


Coventry Health will not cover the cost of Sequenom's (Nasdaq: SQNM) Down syndrome test MaterniT21 as originally announced on May 9.

  

Investors locked in profits on Renren (NYSE: RENN).

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 755.

Concerns of a Greek default sent the markets tumbling to a sharply lower close with the Dow plummeting 156 points to 12,442. Nasdaq plunged 60 points to 2813.

On the upside

Shares of social networking site FriendFinder Networks (Nasdaq: FFN) surged ahead of Facebook's initial public offering tomorrow.


The Commerce Department announced 31% tariffs on Chinese solar panel imports which lifted shares of domestic solar energy firm SunPower (Nasdaq: SPWR).

 

A Seeking Alpha contributor listed Barrick Gold (NYSE: ABX) as one of three gold stocks with the potential to soar over the next two to three years. 


On the downside


Profit taking sank shares of Herbalife (NYSE: HLF) whose stock priced spiked yesterday after Greenlight Capital's David Einhorn did not recommend shorting the stock.


Shares of construction equipment company Terex (NYSE: TEX) after Caterpillar (NYSE: CAT) reported a slowdown in sales last month.

  

Yingli Green Energy (NYSE: YGE) responded to the Commerce Department's 31% tariff on solar imports from China by affirming its commitment to serving the U. S. market and to creating a competitive marketplace.


In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 754.

The markets extended its losses during the midday with the Dow dropping 78 points to 12,520 despite a drop in mortgage rates as investors monitored political developments in Greece. Nasdaq tumbled 31 points to 2842.

On the upside

Rising gold prices lifted shares of Eldorado Gold (NYSE: EGO), Goldcorp (NYSE: GG) and Kinross Gold (NYSE: KGC).


Ctrip.com International (Nasdaq: CTRP) reported lower first quarter earnings but revenue rose to top analyst estimates.

 

Sears Holdings (Nasdaq: SHLD) swung to a first quarter profit and announced plans to spin off Sears Canada. 


On the downside


The Securities and Exchange Commission has opened an investigation into Dendreon (Nasdaq: DNDN).


GT Advanced Technologies (Nasdaq: GTAT) reported higher fourth quarter earnings and revenue but the results fell short of expectations.

  

E-Commerce China Dangdang (NYSE: DANG) fell to a loss for the first quarter and forecast second quarter revenue below analyst estimates.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 9 points to 762.

Despite an increase in pending home sales, the markets opened lower with the Dow slipping 25 points to 12,572 as European debt concerns continued to weigh on investors. Nasdaq lost 18 points to 2855.

On the upside

Wal-Mart (NYSE: WMT) reported higher first quarter earnings that topped analyst estimates as revenue rose.


Warren Buffet's Berkshire Hathaway will pay approximately $142 million to acquire 63 newspapers from Media General (NYSE: MEG).

 

A Seeking Alpha contributor expects Galena Biopharma (Nasdaq: GALE) shares to climb over the next three weeks leading up to the American Society of Clinical Oncology conference. 


On the downside


Shares of MEMC Electronic Materials (NYSE: WFR) continued falling after announcing the immediate resignation of chief financial officer Mark Murphy yesterday.


Advance Auto Parts (NYSE: AAP) reported higher first quarter earnings but the results fell short of analyst expectations and the automotive parts retailer warned of a challenging second quarter.

  

GameStop (NYSE: GME) disappointed with lower first quarter earnings and revenue and forecast second quarter income well below expectations.


In the broad market, declining issues outpaced advancers 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 dropped 5 points to 766.

The markets closed lower with the Dow losing 33 points to 12,598 after the European Central Bank confirmed that it will no longer fund undercapitalized Greek banks. Nasdaq fell 19 points to 2874.

On the upside

Relieved investors snapped up shares of Herbalife (NYSE: HLF) after Greenlight Capital's David Einhorn made no mention of shorting the stock at the Ira Sohn conference.


Bargain hunters lifted shares of Nu Skin Enterprises (NYSE: NUS) whose stock price tumbled after a weekend Barrons article noted that 90% of Nu Skin distributors in the United States are not profitable.

 

Shares of Renren (NYSE: RENN) continued rising after reporting better than expected first quarter results after market close on Monday. 


On the downside


MEMC Electronic Materials (NYSE: WFR) chief financial officer Mark Murphy resigned today and will be replaced by Brian Wuebbels immediately.


Greenlight Capital's David Einhorn said that Martin Marietta Material (NYSE: MLM) was overvalued.

  

Shares of Millennial Media (NYSE: MM) continued falling after reporting first quarter revenue that fell short of estimates and forecasting second quarter and full year revenue below expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 772.

The European Central Bank halted refinancing operations with certain Greek banks. The markets traded mixed during the midday with the Dow rising 20 points to 12,652 while Nasdaq slipped 2 points to 2981.

On the upside

A Food and Drug Administration advisory committee unanimously recommended approval for OraSure Technologies' (Nasdaq: OSUR) OraQuick In-Home HIV Test.


SAC Capital has acquired more than 4.7 million shares of Goodyear Tire & Rubber (NYSE: GT) in the first quarter.

 

Legg Mason (NYSE: LM) will repurchase $1.25 billion in convertible senior notes and increased its stock buyback plan by an additional $1 billion. 


On the downside


Velti (Nasdaq: VELT) narrowed first quarter losses more than expected as revenue surged but investors were disappointed that its full year guidance fell in line with expectations rather than surpassing analyst estimates.


Standard & Poor's downgraded Patriot Coal's (NYSE: PCX) credit rating to a B-.

  

Shares of Tata Motors (NYSE: TTM) fell after Mercedes-Benz unveiled the latest M-Class sport utility vehicle model for the Indian market.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE and while advancers outpaced decliners by a narrow margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 778.

A 2.6% gain in April housing starts lifted the markets to a higher open with the Dow climbing 83 points to 12,715. Nasdaq gained 19 points to 2913.

On the upside

Sina (Nasdaq: SINA) narrowed first quarter losses more than expected as revenue rose.


Canaccord Genuity upgraded SandRidge Energy (NYSE: SD) to a Hold rating.

 

Medicare will now cover Rosetta Genomics' (Nasdaq: ROSG) miRview mets2 assay. 


On the downside


J.C. Penney (NYSE: JCP) fell to a larger than expected loss for the first quarter as revenue dropped.


Newcastle Investment (NYSE: NCT) priced its public offering of 20 million common shares at the discounted price of $6.71 per share.

  

Abercrombie & Fitch (NYSE: ANF) disappointed with sharply lower first quarter earnings as expenses climbed.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 782.

The markets closed lower with the Dow falling 63 points to 12,632 as Greece prepares to hold new elections next month. Nasdaq lost 8 points to 2893.

On the upside

An increase in homebuilder sentiment lifted shares of Hovnanian Enterprises (NYSE: HOV).


OPNET Technologies (Nasdaq: OPNT) reported higher fourth quarter earnings and declared a quarterly dividend of 15 cents per share payable on June 28, 2012 to shareholders of record June 14, 2012.

 

FriendFinder Networks (Nasdaq: FFN) widened first quarter losses more than expected but the social networking site increased new adult subscribers for the first time in six months. 


On the downside


McEwen Mining (NYSE: MUX) discovered high grade gold in a new vein at its El Gallo Complex but the stock price fell.


Jaguar Mining (NYSE: JAG) reported lower first quarter earnings as sales dropped.

  

Retreating silver prices weighed down shares of Silvercorp Metals (NYSE: SVM).


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 777.

Homebuilder confidence rose in May to lift the markets higher during the midday with the Dow adding 13 points to 12,708. Nasdaq rose 13 points to 2915.

On the upside

TJX (NYSE: TJX) reported sharply higher first quarter earnings that topped analyst estimates as revenue climbed and the discount retailer lifted its full year earnings outlook.


Second quarter earnings climbed for Agilent Technologies (NYSE: A) as revenue rose and the scientific instrument maker forecast current quarter sales ahead of estimates.

 

Glu Mobile (Nasdaq: GLUU) will present at the 13th Annual B. Riley & Co. Investor Conference on Wednesday, May 23, at the Sterne Agee 2012 Technology Conference on Thursday, May 24 and at the Cowen and Company 40th Annual Technology Media & Telecom Conference on Thursday, May 31. 


On the downside


Lone Pine Resources (NYSE: LPR) widened first quarter losses.


Summer Infant (Nasdaq: SUMR) disappointed with flat first quarter earnings that fell far short of analyst expectations.

  

First quarter earnings tumbled for Cellcom (NYSE: CEL) as expenses rose.


In the broad market, declining outpaced advancers by a margin of nearly 7 to 5 on the NYSE while advancers outpaced decliners by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 780.

The markets opened modestly higher with the Dow rising 32 points to 12,727 as April retail sales edged up 0.1%. Nasdaq gained 16 points to 2918.

On the upside

Groupon (Nasdaq: GRPN) narrowed first quarter losses as revenue climbed to top estimates.


Renren (NYSE: RENN) reported a smaller than expected loss for the first quarter as revenue surged to beat expectations.

 

First quarter earnings climbed for Dick's Sporting Goods (NYSE: DKS) as revenue rose to surpass analyst expectations. 


On the downside


Fragrance company Coty withdrew its $10.7 billion offer to acquire Avon Products (NYSE: AVP).


Chesapeake Energy (NYSE: CHK) raised its bridge loan from $3 billion to $4 billion.

  

Patriot Coal (NYSE: PCX) blamed a possible client default for lowering its steelmaking coal sales outlook.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 780.

Concerns about a slowdown of the Chinese economy sent the markets tumbling to a sharply lower close with the Dow plunging 125 points to 12,695. Nasdaq plummeted 31 points to 2902.

On the upside

Ventrus Biosciences (Nasdaq: VTUS) reported positive results from a late stage clinical trial of its anal fissure treatment diltiazem.


Shares of Horizon Pharma (Nasdaq: HZNP) continued rising after reporting a narrower first quarter loss last week.

 

Golf Town will pay  a premium of approximately $96.5 million in cash to acquire Golfsmith International Holdings (Nasdaq: GOLF). 


On the downside


Investors locked in profits on Melco Crown Entertainment (Nasdaq: MPEL), whose stock price rose last week after reporting higher first quarter results that beat analyst expectations.


First quarter earning rose for Silver Wheaton (NYSE: SLW) but the results fell short of expectations.

  

Iamgold (NYSE: IAG) disappointed with lower first quarter earnings and revenue.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 778.

The markets recovered early morning losses but continued trading lower during the midday with the Dow falling 54 points to 12,765 as European debt concerns continued to weigh on investors. Nasdaq lost 10 points to 2923.

On the upside

Investors snapped up shares of Groupon (Nasdaq: GRPN) ahead of its earnings release after market close.


BMC Software (Nasdaq: BMC) adopted a shareholder rights plan to protect itself from a possible hostile takeover by Elliott Associates.

 

Avon Products (NYSE: AVP) will evaluate the increased acquisition offer made by Coty last Thursday. 


On the downside


Shares of Kemet (NYSE: KEM) continued falling after reporting sharply lower fourth quarter earnings last Thursday.


Shares of NetQin Mobile (NYSE: NQ) continued falling after announcing a secondary offering of 6 million American Depositary Shares last week.

  

Societe Generale analyst Andy Perkins downgraded Nokia (NYSE: NOK) to a Sell rating.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 782.

Greece's strife laden efforts to form a new government sent the markets tumbling to a sharply lower open with the Dow plunging 120 points to 12,700. Nasdaq dropped 26 points to 2907.

On the upside

The Wall Street Journal reported that activist investor Carl Icahn acquired a significant stake in Chesapeake Energy (NYSE: CHK).


Kelta will pay a premium of approximately $33.1 million to acquire Tii Network Technologies (Nasdaq: TIII).

 

A Seeking Alpha contributor noted that Keryx Biopharmaceuticals (Nasdaq: KERX) was a low debt pharmaceutical with a Buy rating. 


On the downside


NBC's cancellation of the television program "Who Do You Think You Are?" sent shares of Ancestry.com (Nasdaq: ACOM) tumbling.


InterOil (NYSE: IOC) received unofficial notice that Papua New Guinea will cancel the 2009 LNG Project Agreement.

  

Craig-Hallum downgraded A123 Systems (Nasdaq: AONE) to a Sell rating.


In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 779.

The markets closed lower with the Dow falling 34 points to 12,820 as investors digested J. P. Morgan's $2 billion loss. Nasdaq edged up a fraction to 2933.

On the upside

Reuters reported that LinkedIn and Silver Lake may be interested in acquiring Monster Worldwide (NYSE: MWW).


Three directors and one executive vice president recently purchased Heckmann (NYSE: HEK) stock.

 

The Food and Drug Administration advisory panel's approval recommendation for Arena's (Nasdaq: ARNA) Lorcaserin lifted shares of Orexigen Therapeutics (Nasdaq: OREX) which is testing its own weight loss treatment Contrave. 


On the downside


The Wall Street Journal reported that Chesapeake Energy (NYSE: CHK) has accumulated approximately $1.4 billion in undisclosed liabilities.


Shares of Kemet (NYSE: KEM) continued falling a day after reporting sharply lower fourth quarter earnings that missed analyst expectations.

  

Shares of MEMC Electronic Materials (NYSE: WFR) continued falling after reporting a wider than expected loss for the first quarter yesterday.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 790.

Markets Mixed At Midday

|

The markets traded mixed during the midday with the Dow losing 16 points to 12,838 as investors weighed J. P. Morgan's $2 billion loss against rising consumer sentiment. Nasdaq rose 10 points to 2944.

On the upside

Dillard's (NYSE: DDS) reported higher first quarter earnings that beat analyst expectations as revenue climbed.


Shares of Ignite Restaurant (Nasdaq: IRG) soared in its market debut.

 

Keryx Biopharmaceuticals (Nasdaq: KERX) will present at the 11th Annual JMP Securities Research Conference next Tuesday, May 15. 


On the downside


The Food and Drug Administration is inspecting Alere's (NYSE: ALR) San Diego facility that makes the Alere Triage products.


Career Education (Nasdaq: CECO) reported sharply lower first quarter earnings as new student enrollment dropped.

  

A123 Systems (Nasdaq: AONE) warned that it will report a loss of $125 million for the first quarter due to a battery recall.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 791.

The markets opened higher with the Dow rising 22 points to 12,877 despite J.P. Morgan's $2 billion loss as pending home sales climbed. Nasdaq gained 19 points to 2953.

On the upside

A Food and Drug Administration advisory committee recommended approval for Arena Pharmaceuticals' (Nasdaq: ARNA) obesity treatment Lorcaserin.


Nvidia (Nasdaq: NVDA) reported lower first quarter earnings and revenue but the results were better than expected and the chipmaker forecast current quarter revenue ahead of estimates.

 

First quarter earnings fell for McDermott International (NYSE: MDR) but the results surpassed analyst expectations by a wide margin. 


On the downside


J.P. Morgan Chase (NYSE: JPM) disclosed a $2 billion trading loss.


Roundy's (NYSE: RNDY) reported sharply lower first quarter earnings and warned that same store sales will drop this year prompting a downgrade.

  

GSV Capital (Nasdaq: GSVC) priced its follow-on offering of 6 million common shares at the discounted price of $16.25 per share.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 791.

A drop in jobless claims lifted the markets to a modestly higher close with the Dow rising 19 points to 12,855. Nasdaq slipped a point to 2933.

On the upside

Feihe International (NYSE: ADY) reported sharply higher first quarter earnings that nearly doubled.


First quarter earnings leaped for InfoSpace (Nasdaq: INSP) as revenue more than doubled.

 

The European Union approved Cell Therapeutics' (Nasdaq: CTIC) multiply relapsed or refractory aggressive non-Hodgkin B-cell lymphomas treatment Pixuvri. 


On the downside


Fourth quarter earnings slipped for PSS World Medical (Nasdaq: PSSI) to fall short of expectations and the company announced that it will sell some of its businesses.


Comments by Cisco (Nasdaq: CSCO) that corporate spending will drop sent shares of Salesforce.com (NYSE: CRM) tumbling.

  

Cenveo (NYSE: CVO) fell to a loss for the first quarter due to charges.


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 2 points to 791.

Despite a drop in first time applications for unemployment benefits, the markets traded mixed during the midday with the Dow rising 35 points to 12,870 while Nasdaq lost 7 points to 2927 over continued uncertainty in Europe.

On the upside

InfoSpace (Nasdaq: INSP) reported sharply higher first quarter earnings and revenue and the company forecast current quarter revenue ahead of estimates.


Shares of Audience (Nasdaq: ADNC) soared on its first trading day.

 

Live Nation (Nasdaq: LYV) widened first quarter losses but the results were better than expected. 


On the downside


MEMC Electronic Materials (NYSE: WFR) widened first quarter losses more than expected as solar sales tumbled.


Cisco's (Nasdaq: CSCO) disappointing outlook weighed down shares of Juniper Networks (NYSE: JNPR).

  

Universal Panel (Nasdaq: PANL) reported an unexpected loss for the first quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 790.

Mortgage rates fell last week to a record low to lift the markets to a higher open with the Dow gaining 48 points to 12,883. Nasdaq slipped 3 points to 2931.

On the upside

Roth Capital upgraded Keryx Biopharmaceuticals (Nasdaq: KERX) to a Buy rating and lifted its price target to $7 from $4.


Tesla Motors (Nasdaq: TSLA) expects to deliver its Model S sedan in June, one month earlier that previously announced.

 

Monster Beverage (Nasdaq: MNST) reported record first quarter earnings and revenue that surpassed analyst expectations. 


On the downside


Cisco Systems (Nasdaq: CSCO) reported higher third quarter earnings but the company forecast current quarter results below analyst expectations.


Windstream (Nasdaq: WIN) reported higher first quarter earnings but the results missed estimates.

  

Silicon Graphics (Nasdaq: SGI) narrowed first quarter losses but the company forecast second quarter results that fell short of expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 793.

The markets closed lower with the Dow plunging 97 points to 12,835 over concerns that Spain may have to infuse its banks with capital. Nasdaq dropped 11 points to 2934.

On the upside

Bloomberg reported that MetroPCS (NYSE: PCS) may merge with T-Mobile while rumors that Leap Wireless (Nasdaq: LEAP) may be acquired lifted shares of the rival pre-paid wireless carrier.


Speculation that Avon (NYSE: AVP) may receive another acquisition offer from Coty lifted shares of the beauty products company.

 

Credit Suisse initiated coverage of Phillips 66 (NYSE: PSX) with an Outperform rating and a price target of $42. 


On the downside


Kronos Worldwide (NYSE: KRO) reported sharply higher first quarter earnings that beat analyst expectations but the company warned that raw materials expenses are expected to soar.


First quarter earnings slipped for FTI Consulting (NYSE: FCN) to fall far short of analyst estimates.

  

Shares of Amedisys (Nasdaq: AMED) continued falling after reporting sharply lower first quarter earnings yesterday.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 788.

The markets recovered earlier losses but continued trading lower with the Dow tumbling 83 points to 12,849 as investors monitored political developments in Europe. Nasdaq fell 10 points to 2935.

On the upside

Investors snapped up shares of Jaguar Mining (NYSE: JAG) after the company announced a restructuring plan yesterday.


Dean Foods (NYSE: DF) reported higher first quarter earnings and forecast current quarter as well as full year results ahead of estimates.

 

First quarter earnings rose for Accretive Health (NYSE: AH) as revenue surged to beat expectations. 


On the downside


Energy Solutions (NYSE: ES) disappointed with a loss for the first quarter.


MercadoLibre (Nasdaq: MELI) reported higher first quarter earnings and revenue but the results missed estimates prompting a downgrade.

  

XOMA (Nasdaq: XOMA) widened first quarter losses as revenue dropped.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 790.

Concerns about more losses among Spanish banks sent the markets tumbling to a sharply lower open with the Dow plummeting 176 points to 12,755. Nasdaq plunged 44 points to 2902.

On the upside

SodaStream International (Nasdaq: SODA) reported sharply higher first quarter earnings that surpassed analyst expectations as revenue surged.


Second quarter earnings climbed for Walt Disney (NYSE: DIS) to beat expectations on improved revenue from theme parks and pay TV.

 

Cost Plus (Nasdaq: CPWM) will be acquired by Bed Bath & Beyond (Nasdaq: BBBY) for a premium of approximately $495 million. 


On the downside


Dynavax Technologies (Nasdaq: DVAX) priced its public offering of 17.5 million common shares at the discounted price of $4.25.


Macy's (NYSE: M) reported higher first quarter earnings that beat analyst expectations but the retailer's full year guidance fell short of expectations.

  

Chiquita Brands International (NYSE: CQB) disappointed by falling to a larger than expected loss for the first quarter.


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 9 points to 783.

Political uncertainty in Europe weighed the markets down to a lower close with the Dow dropping 76 points to 12,932. Nasdaq lost 11 points to 2946.

On the upside

Needham & Co. upgraded Vertex Pharmaceuticals (Nasdaq: VRTX) to a Buy rating.


KeyBanc Capital Markets upgraded EXCO Resources (NYSE: XCO) to a Buy rating.

 

Grand Canyon Education (Nasdaq: LOPE) reported higher first quarter earnings that beat analyst expectations and lifted its full year guidance. 


On the downside


Scotts Miracle-Gro (NYSE: SMG) reported lower second quarter earnings as gross margin fell.


Synchronoss Technologies (NYSE: SNCR) reported flat revenue from its largest client AT&T (Nasdaq: T) and lowered its full year revenue outlook for AT&T.

  

Dun & Bradstreet (NYSE: DNB) reported higher first quarter earnings but the results fell short of analyst estimates and the company trimmed its 2012 core revenue growth estimate.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 793.

Concerns about European political stability weighed the markets down during the midday with the Dow plummeting 146 points to 12,862. Nasdaq tumbled 32 points to 2925.

On the upside

OfficeMax (NYSE: OMX) reported lower first quarter earnings but the results were better than expected.


Savient Pharmaceuticals (Nasdaq: SVNT) entered agreements with certain creditors to restructure its debt.

 

First quarter earnings for Generac (NYSE: GNRC) surged to surpass analyst expectations by a wide margin prompting the company to boost its full year revenue outlook. 


On the downside


Rackspace Hosting (NYSE: RAX) disappointed with first quarter earnings that missed analyst expectations.


Jaguar Mining (NYSE: JAG) will implement a restructuring plan but will reject a change of control proposal from Shandong Gold Group.

  

Merge Healthcare (Nasdaq: MRGE) narrowed first quarter losses and created operating groups Merge Healthcare and Merge DNA.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 786.

The markets opened sharply lower with the Dow plunging 150 points to 12,858 as Greece struggled to form a government. Nasdaq plummeted 45 points to 2912.

On the upside

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) soared ahead of its meeting with a Food and Drug Advisory Committee on Thursday, May 10 for its obesity treatment Lorcaserin.


Patriot Coal (NYSE: PCX) widened first quarter losses more than expected but thermal coal exports are expected to double this year.

 

Vitamin Shoppe (NYSE: VSI) reported sharply higher first quarter earnings as sales climbed. 


On the downside


Fossil (Nasdaq: FOSL) reported higher first quarter earnings but revenue fell short of expectations and the fashion accessories company slashed its full year forecast.


Dendreon (Nasdaq: DNDN) narrowed first quarter losses but concerns about competition for its only product Provenge weighed down shares of the biotechnology company.

  

MAKO Surgical (Nasdaq: MAKO) widened first quarter losses more than expected and cut the sales guidance for its RIO robotic surgery system.


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 7 points to 786.

Uncertainty in Europe weighed the Dow down to a lower close with the blue chip index losing 29 points to 13,008. Nasdaq added a point to 2957.

On the upside

GTSI (Nasdaq: GTSI) will be acquired by Unicom Systems for approximately $76 million in cash.


Shares of Kingold Jewelry (Nasdaq: KGJI) rose ahead of its earnings release on Wednesday, May 9 after market close.

 

First quarter earnings slipped for GEO Group (NYSE: GEO) but the results topped analyst estimates. Separately, the company announced that it will pay approximately $27 million to acquire 100% of the partnership interests in Municipal Corrections Finance. 


On the downside


PetMed Express (Nasdaq: PETS) reported lower fourth quarter earnings as expenses rose.


Sycamore upped its offer forTalbots (NYSE: TLB) to $3.05 per share. Talbots rejected the company's previous $3 per share bid saying that the price was too low.

  

Westlake Chemical (NYSE: WLK) withdrew its $1.9 billion offer to acquire Georgia Gulf (NYSE: GGC) on Friday after market close.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 793.

The markets recovered early morning losses during the midday to trade flat with the Dow easing a point to 13,037 as March pending home sales rose. Nasdaq rose 9 points to 2965.

On the upside

A Seeking Alpha contributor listed Kodiak Oil & Gas (NYSE: KOG) as one of five natural gas companies that will rebound in 2013.


The Food and Drug Administration lifted its hold on Insmed's (NYSE: INSM) lung disease drug Arikace.

 

Synacor's (Nasdaq: SYNC) Vice President of Mobile Jaafer Haidar will present at International CTIA Wireless on Tuesday, May 8.


On the downside


Clearwire (Nasdaq: CLWR) will collaborate with Sequans Communications (NYSE: SQNS) to develop standards for and devices to support multi-band, multi-mode TDD-LTE and FDD-LTE solutions but the stock price slipped.


Raymond James said that Tempur-Pedic International (NYSE: TPX) will offer discounts on its most profitable Cloud Supreme model. 

  

Thompson Creek Metals (NYSE: TC) will offer $200 million in senior notes.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 794.

Socialist victories in European elections raised concerns about austerity measures sending the markets down to a lower open with the Dow falling 63 points to 12,974. Nasdaq lost 9 points to 2947.

On the upside

Vertex Pharmaceuticals (Nasdaq: VRTX) reported upbeat results from a midstage clinical trial of its cystic fibrosis treatment Kalydeco.


Tyson Foods (NYSE: TSN) reported higher second quarter earnings that beat analyst expectations and forecast full year results ahead of estimates.

 

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) rose ahead of its meeting on Thursday with the Food and Drug Administration's Advisory Committee to discuss the obesity treatment Lorcaserin.


On the downside


Cognizant Technology Solutions (Nasdaq: CTSH) reported higher first quarter earnings but the company trimmed its full year outlook.


The Treasury Department will sell $5 billion worth of American International Group (NYSE: AIG) stock with the insurer purchasing $2 billion worth at the discounted price of $30.50 per common share. 

  

First quarter earnings fell for Broadsoft (Nasdaq: BSFT) and the company forecast current quarter results below estimates.


In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 792.

A slowdown in job creation renewed concerns about the economic recovery to send the markets tumbling to a sharply lower close with the Dow sinking 168 points to 13,038. Nasdaq collapsed 67 points to 2956.

On the upside

Power Integrations (Nasdaq: POWI) reported lower first quarter earnings and revenue but the results surpassed analyst expectations and the company forecast second quarter revenue ahead of estimates.


Bargain hunters lifted shares of KIT digital (Nasdaq: KITD) whose stock price dropped yesterday after the company lowered its first quarter guidance.

 

Mohawk Industries (NYSE: MHK) impressed with sharply higher first quarter earnings that beat analyst estimates and the company forecast second quarter income above expectations.


On the downside


Sapient (Nasdaq: SAPE) reported lower first quarter earnings even as revenue rose.


Manitowoc (NYSE: MTW) swung to a first quarter profit but the results fell short of expectations. 

  

Bebe Stores (Nasdaq: BEBE) narrowed third quarter losses more than expected but the women's apparel retailer forecast current quarter earnings below analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 792.

The markets extended its losses during the midday with the Dow plummeting 149 points to 13,057 over disappointing jobs data. Nasdaq sank 57 points to 2966.

On the upside

Microsoft (Nasdaq: MSFT) selected Dolby Laboratories' (NYSE: DLB) Dolby Digital Plus technology for digital audio encoding in the Windows 8 operating system.


LeapFrog (NYSE: LF) narrowed first quarter losses more than expected as revenue surged to beat analyst estimates.

 

Cincinnati Bell (NYSE: CBB) reported lower first quarter earnings but the company forecast full year revenue ahead of estimates.


On the downside


InvenSense (NYSE: INVN) reported sharply higher fourth quarter earnings but the company lowered the high end of its first quarter revenue forecast.


Arcos Dorados (NYSE: ARCO) reported lower first quarter earnings. 

  

Southwestern Energy (NYSE: SWN) disappointed with lower first quarter earnings that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 794.

Employers added fewer jobs than expected in April to weigh the markets down to a lower open with the Dow plunging 105 points to 13,101. Nasdaq plummeted 44 points to 2980.

On the upside

GeoEye (Nasdaq: GEOY) made a $792 million cash and stock bid for DigitalGlobe (NYSE: DGI).


LinkedIn (NYSE: LNKD) reported sharply higher first quarter earnings that more than doubled as revenue surged and announced the acquisition of SlideShare.

 

First quarter earnings for Spreadtrum Communications (Nasdaq: SPRD) slipped but the results beat analyst expectations and the company forecast current quarter revenue above estimates.


On the downside


Synergy Pharmaceuticals (Nasdaq: SGYP) priced its public offering of 10 million common shares at the discounted price of $4.50 per share.


Piper Jaffray downgraded Body Central (Nasdaq: BODY) to a Neutral rating. 

  

American International Group (NYSE: AIG) reported sharply higher first quarter earnings but the stock price fell as analysts remained cautious about the insurer's recovery.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 796.

Weak April retail sales and slower than expected expansion of the services sector weighed the markets down to a lower close with the Dow falling 61 points to 13,206. Nasdaq tumbled 35 points to 3024.

On the upside

Avon (NYSE: AVP) declared a quarterly dividend of $0.23 per common share payable on June 1, 2012 to shareholders of record May 17, 2012.


Level 3 Communications (NYSE: LVLT) narrowed first quarter losses more than expected as revenue surged.

 

Rite Aid (NYSE: RAD) reported a 2.9% increase in April same store sales.


On the downside


Shares of Herbalife (NYSE: HLF) fell for the third day after Greenlight Capital fund manager David Einhorn questioned the nutritional supplement retailer's disclosures about its distributors.


ValueClick (Nasdaq: VCLK) reported higher first quarter earnings that topped analyst estimates but revenue fell short and the company forecast current quarter results below expectations. 

  

Prudential Financial (NYSE: PRU) disappointed by falling to a greater than expected loss for the first quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 806.

Expansion of the nation's services sector slowed more than expected last month to weigh the markets down during the midday with the Dow slipping 35 points to 13,233. Nasdaq dropped 27 points to 3032.

On the upside

Zillow (Nasdaq: Z) reversed year ago losses to post a better than expected profit for the first quarter as revenue doubled. Separately, the company announced that it will pay $40 million in cash to acquire RentJuice 


Teradata (NYSE: TDC) reported higher first quarter earnings and revenue that surpassed analyst expectations.

 

First quarter earnings and revenue climbed for Scripps Networks Interactive (NYSE: SNI) to beat expectations.


On the downside


Mitek Systems (Nasdaq: MITK) fell to a loss for the second quarter as revenue plunged.


Genomma Lab abandoned its efforts to acquire Prestige Brands (NYSE: PBH). 

  

Health Net (NYSE: HNT) narrowed first quarter losses but the results fell short of analyst expectations and the company cut its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 809.

Same store sales rose less than expected in April to weigh the markets down to a lower open with the Dow losing 48 points to 13,220. Nasdaq fell 14 points to 3044.

On the upside

Dutch manufacturer Royal DSM will pay approximately $360 million in cash to acquire Kensey Nash (Nasdaq: KNSY). 


First quarter earnings fell for Walter Energy (NYSE: WLT) but metallurgical coal production climbed to a record high of 3 million metric tons.

 

ION Geophysical (NYSE: IO) reported higher first quarter earnings and revenue.


On the downside


Green Mountain Coffee Roasters (Nasdaq: GMCR) reported higher second quarter earnings and revenue but the company cut its full year guidance.


Hersha Hospitality Trust (NYSE: HT) priced its public offering of 24 million common shares at $5.60 per share. 

  

KIT digital (Nasdaq: KITD) warned that first quarter earnings and revenue will fall short of expectations.

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 fell 5 points to 813.

The markets closed mixed with the Dow slipping 10 points to 13,268 after the nation's private sector created fewer jobs than expected. Nasdaq rose 9 points to 3059.

On the upside

FormFactor (Nasdaq: FORM) narrowed first quarter losses more than expected. 


Synacor (Nasdaq: SYNC) acquired the HTML5 Platform Carbyn.

 

First quarter earnings for Con-way (NYSE: CNW) more than tripled to surpass analyst expectations by a wide margin.


On the downside


OCZ Technology Group (Nasdaq: OCZ) reported a larger than expected loss for the fourth quarter.


Cavium (Nasdaq: CAVM) forecast second quarter revenue that fell short of expectations. 

  

Endeavour International (NYSE: END) widened first quarter losses more than expected.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 818.

The markets recovered earlier losses to trade mixed during the midday with the Dow losing 29 points to 13,250 while Nasdaq added 2 points to 3052. Unemployment in 17 European countries rose but the number of job seekers in Germany fell.

On the upside

Arena Pharmaceuticals (Nasdaq: ARNA) narrowed first quarter losses and announced that the Food and Drug Administration will hold an advisory committee meeting on May 10 to discuss the New Drug Application for the biopharmaceutical's obesity treatment Lorcaserin. 


EasyLink Services International (Nasdaq: ESIC) agreed to be acquired by OpenText (Nasdaq: OTEX) for a premium of $7.25 per share in cash.

 

First quarter earnings rose for TripAdvisor (Nasdaq: TRIP) to top analyst estimates.


On the downside


Ubiquiti Networks (Nasdaq: UBNT) reported sharply higher third quarter earnings that topped analyst estimates but the company's current quarter outlook disappointed. Separately, TianYa.cn reported that company chief executive Robert Pera was under investigation for using the Chinese mafia to intimidate competitors in China.


Silicon Image (Nasdaq: SIMG) widened first quarter losses even as revenue climbed and announced $50 million stock repurchase plan. 

  

Bankrate (NYSE: RATE) reported first quarter earnings that doubled but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 816.

A drop in March factory orders sent the markets tumbling to a lower open with the Dow dropping 73 points to 13,206. Nasdaq fell 16 points to 3033.

On the upside

Ascena Retail Group will pay approximately $890 million to acquire Charming Shoppes (Nasdaq: CHRS). 


Standard Microsystems (Nasdaq: SMSC) will be acquired by Microchip Technology (Nasdaq: MCHP) for approximately $830 million in cash.

 

American Eagle Outfitters (NYSE: AEO) cited improved sales for raising its first quarter outlook.


On the downside


Chesapeake Energy (NYSE: CHK) narrowed first quarter losses but the results fell short of expectations. Separately, Reuters reported that chief executive Aubrey McClendon formed and lead a private hedge fund that traded commodities produced by Chesapeake.


OpenTable (Nasdaq: OPEN) reported higher first quarter earnings but revenue missed expectations and the company forecast current quarter revenue below estimates. 

  

Howard Weil downgraded Arch Coal (Nasdaq: ACI) to a Market Perform rating.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 809.

Strong growth in manufacturing activity lifted the markets to a higher close with the Dow gaining 65 points to 13,279. Nasdaq rose 4 points to 3050.

On the upside

Archer Daniels Midland (NYSE: ADM) reported lower third quarter earnings but the results beat analyst expectations. 


First quarter earnings dropped for Veeco Instruments (Nasdaq: VECO) but the results surpassed analyst expectations by a wide margin.

 

NuVasive (Nasdaq: NUVA) reported lower first quarter earnings but the results beat expectations.


On the downside


Forest Oil (NYSE: FST) widened first quarter losses more than expected. 


Radian Group (NYSE: RDN) fell to a larger than expected loss for the first quarter. 

  

Tang Capital Partners filed suit against Savient Pharmaceuticals (Nasdaq: SVNT) alleging that the biopharmaceutical was insolvent.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and 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 815.

Greater than expected expansion of manufacturing activity boosted the markets during the midday with the Dow soaring 106 points to 13,320. Nasdaq climbed 23 points to 3069.

On the upside

Avis Budget Group (Nasdaq: CAR) reported a preliminary loss for the first quarter due to charges but forecast higher 2012 results. 


First quarter earnings soared for Huntsman (NYSE: HUN) to surpass analyst expectations by a wide margin.

 

CapitalSource (NYSE: CSE) reported sharply higher first quarter earnings.


On the downside


Greenlight Capital's David Einhorn questioned Herbalife's (NYSE: HLF) financial disclosures during the company's earnings conference call. 


Avon Products (NYSE: AVP) blamed significant restructuring charges for sharply lower first quarter earnings that missed analyst expectations. 

  

Second quarter earnings slipped for Emerson Electric (NYSE: EMR) to fall short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 825.

The markets opened higher with the Dow climbing 83 points to 13,296 as pending home sales rose. Nasdaq soared 31 points to 3078.

On the upside

P. F. Chang's China Bistro (Nasdaq: PFCB) will be taken private Centerbridge Partners in a deal valued at approximately $1.1 billion. 


Louis Dreyfus Commodities will pay approximately $78 million to take Imperial Sugar (Nasdaq: IPSU) private.

 

Chesapeake Energy (NYSE: CHK) will remove chairman Aubrey McClendon from his position on the board after a loan scandal.


On the downside


Pep Boys (NYSE: PBY) reported preliminary first quarter results that fell short of expectations.  


Domino's Pizza (NYSE: DPZ) reported lower first quarter earnings and revenue that fell short of analyst expectations. 

  

Integrated Device Technology (Nasdaq: IDTI) reported lower fourth quarter earnings and revenue and announced the acquisition of PLX Technology (Nasdaq: PLXT) for approximately $330 million in cash and stock.

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 7 points to 824.

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