July 2012 Archives

The markets closed lower with the Dow dropping 64 points to 13,008 ahead of possible economic stimulus announcements by the Federal Reserve and the European Central Bank. Nasdaq lost 6 points to 2939.

On the upside

Vishay Intertechnology (NYSE: VSH) reported lower second quarter earnings and revenue that missed analyst estimates but the stock price climbed.

Third quarter earnings slipped for Kulicke & Soffa (Nasdaq: KLIC) but revenue beat expectations.

Five Star Equities issued a research report on James River Coal (NYSE: JRCC) saying that the company will benefit from an expected increase in thermal coal demand.

On the downside

PMC-Sierra (Nasdaq: PMCS) reported higher second quarter earnings that topped analyst estimates but the company warned of slowing demand in the current quarter and cut its revenue guidance prompting downgrades.

Shares of Suntech Power (NYSE: STP) continued falling after reporting yesterday that ap pledge of German bonds may have been fraudulent.

RealD (NYSE: RLD) reported lower first quarter earnings that missed estimates by a wide margin prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 786.

Markets Fall As Fed Meets

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Personal income and consumer confidence both rose but the markets traded lower during the midday with the Dow falling 41 points to 13,031 as the Federal Reserve convened its two-day policy meeting. Nasdaq eased a point to 2943.

On the upside

U. S. Steel (NYSE: X) reported lower second quarter earnings but the results surpassed analyst expectations by a wide margin.

The Wall Street Journal reported that Nokia (NYSE: NOK) will increase the amount of stock options available to key employees.

Goodyear Tire & Rubber (NYSE: GT) impressed with sharply higher second quarter earnings that more than doubled to beat analyst estimates.

On the downside

Masco (NYSE: MAS) fell to a loss for the second quarter as margins slipped.

Amarin's (Nasdaq: AMRN) chief executive Joe Zakrzewski, president John Thero and director Carl Gordon all sold shares of company stock.

Humana (NYSE: HUM) disappointed with lower second quarter earnings that fell far short of analyst expectations and cut its full year outlook.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 788.
The markets opened mixed with the Dow slipping 18 points to 13,054 while Nasdaq added 2 points to 2947 as consumer spending held steady in June.

On the upside

Cirrus Logic (Nasdaq: CRUS) reported lower first quarter earnings but the results topped analyst estimates and the company forecast sharply higher second quarter revenue.

Accretive Health (NYSE: AH) will settle a lawsuit filed by the Minnesota attorney general by closing operations in the state and paying a fine of approximately $2.5 million.

Cobalt International Energy (NYSE: CIE) widened second quarter losses but the oil exploration company reported a vast amount of hydrocarbon accumulation and oil deposits at its Cameia No. 2 appraisal well offshore Angola.

On the downside

Dendreon (Nasdaq: DNDN) will close a manufacturing facility after sales of its cancer vaccine Provenge dropped.

Coach (NYSE: COH) reported higher fourth quarter earnings but revenue fell short of analyst expectations.

Shares of OCZ Technology (Nasdaq: OCZ) continued falling after Seagate (Nasdaq: STX) refused to address acquisition rumors.

In the broad market, advancing issues edged out decliners by a slim margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 792.
Economic uncertainty weighed the markets down to a lower close with the Dow easing 2 points to 13,073. Nasdaq slipped 12 points to 2945.

On the upside

Supervalu (NYSE: SVU) fired chief executive Craig Herkert and named chairman Wayne Sales as its new CEO.

Sterne Agee upgraded Arch Coal (NYSE: ACI) to a Buy rating.

Clearwire (Nasdaq: CLWR) announced 50% savings on all Clear devices.

On the downside

Shares of Sequenom (Nasdaq: SQNM) continued falling after reporting wider losses for the second quarter last week.

Shares of OCZ Technology (Nasdaq: OCZ) fell after Seagate Technology (Nasdaq: STX) did not announce plans to acquire OCZ. A blog reported last week that Seagate would purchase OCZ.

Investors locked in profits on Groupon (Nasdaq: GRPN).

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 5 to 3 Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 791.
The markets retreated into negative territory with the Dow slipping 6 points to 13,069 as investors await the outcome of the Federal Reserve meeting later this week. Nasdaq lost 13 points to 2944.

On the upside

A Seeking Alpha contributor wrote that ATP Oil and Gas (Nasdaq: ATPG) may not file for bankruptcy protection.

Sarepta Therapeutics (Nasdaq: SRPT) regained compliance for Nasdaq listing by maintaining a $1 minimum closing bid price for ten consecutive business days.

Roper Industries (NYSE: ROP) reported higher second quarter earnings and announced the acquisition of Sunquest Information Systems for approximately $1.4 billion in cash.

On the downside

Credit Suisse analyst Michael Exstein said that J.C. Penney's (NYSE: JCP) efforts to revitalize its brand with the new branded shops within a department store concept will be challenging.

Second quarter earnings for Lufkin (Nasdaq: LUFK) fell short of analyst expectations and the oilfield services provider forecast earnings and revenue that missed analyst estimates.

Needham downgraded Progenics Pharmaceuticals (Nasdaq: PGNX) after the Food and Drug Administration requested additional clinical data for its opioid-induced constipation treatment Relistor.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 2 to 1 Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 791.
The markets opened modestly higher with the Dow rising 38 points to 13,113 ahead of the Federal Reserve's meeting this week. Nasdaq held steady at 2958.

On the upside

Chicago Bridge & Iron (NYSE: CBI) will pay approximately $3.04 billion in cash and stock to acquire Shaw Group (NYSE: SHAW).

Bargain hunters lifted shares of Green Dot (NYSE: GDOT) whose stock price plummeted last week after reporting lower second quarter earnings that fell short of analyst expectations.

Clean Diesel Technologies (Nasdaq: CDTI) has begun supplying catalysts for the Honda Accord.

On the downside

Suntech Power Holdings (NYSE: STP) said that a pledge of German government bonds worth 560 million euros by Global Solar Fund may have been fraudulent.

The Food and Drug Administration issued a Complete Response Letter requesting additional clinical data to Salix Pharmaceuticals (Nasdaq: SLXP) for its opioid-induced constipation treatment Relistor.

Alpha Natural Resources (NYSE: ANR) received an imminent danger order alleging failure of a highwall at its Eagle Butte Mine in Wyoming.

In the broad market, advancing issues outpaced decliners by a margin of more the 3 to 2 on the NYSE and by nearly 10 to 9 Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 796.
Expansion of the nation's economy during the second quarter boosted investor sentiment to lift the markets to a sharply higher close with the Dow leaping 187 points to 13,075. Nasdaq jumped 64 points to 2958.

On the upside

Shares of Alpha Natural Resources (NYSE: ANR) surged after Arch Coal (NYSE: ACI) reported better than expected earnings.

Qlik Technologies (Nasdaq: QLIK) narrowed second quarter losses more than expected as revenue climbed and forecast full year revenue ahead of estimates.

Bargain hunters lifted shares of Groupon (Nasdaq: GRPN) whose stock price had been falling since Business Insider published an article on Tuesday about Groupon bankrupting a waffle house.

On the downside

QLogic (Nasdaq: QLGC) reported sharply lower first quarter earnings that missed expectations as revenue fell.

Sequenom (Nasdaq: SQNM) widened second quarter losses more than expected.

Standard Pacific (NYSE: SPF) reported higher second quarter earnings and revenue but revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks surged 18 points to 796.
The markets extended its gains during the midday with the Dow surging 117 points to 13,005 as the nation's economy grew 1.5% annual pace in the second quarter. Nasdaq surged 41 points to 2935.

On the upside

Expedia (Nasdaq: EXPE) reported lower second quarter earnings but the results surpassed analyst expectations.

A Seeking Alpha contributor expects OCZ (Nasdaq: OCZ) to report strong results in the second quarter as well as the full year.

Barclays (NYSE: BCS) reported higher adjusted profit for the first half of the year.

On the downside

Starbucks (Nasdaq: SBUX) reported higher third quarter earnings and revenue but the results fell short of expectations and lowered its guidance for the current quarter.

Acme Packet (Nasdaq: APKT) fell to a loss for the second quarter and cut its full year forecast below analyst expectations.

Coinstar (Nasdaq: CSTR) reported higher second quarter earnings but revenue missed estimates and the company forecast full year earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 789.

Higher Open As GDP Grows 1.5%

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The nation's economy expanded at a modest 1.5% rate in the second quarter to lift the markets to a higher open with the Dow climbing 61 points to 12,949. Nasdaq gained 21 points to 2914.

On the upside

Apple (Nasdaq: AAPL) will pay approximately $356 million in cash to mobile security company AuthenTec (Nasdaq: AUTH).

UBS upgraded Sprint (NYSE: S) to a Buy rating.

Arch Coal (NYSE: ACI) fell to a loss for the second quarter but revenue rose to beat analyst expectations and the company announced a quarterly cash dividend of $0.03 per share payable on September 14, 2012 to shareholders of record August 31, 2012.

On the downside

Facebook (Nasdaq: FB) reported results for its first quarter as a publicly traded company that met analyst expectations but slowing growth sent the stock price tumbling.

Green Dot (Nasdaq: GDOT) disappointed with lower second quarter earnings and cut its full year outlook.

The Food and Drug Administration approved Amarin's (Nasdaq: AMRN) severe hypertriglyceridemia treatment Vascepa but limited conditions for its use.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 3 Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 781.
Investors welcomed comments by European Central Bank president Mario Draghi that the bank will protect the euro. The markets closed sharply higher with the Dow rocketing 211 points to 12,887 while Nasdaq soared 39 points to 2893.

On the upside

PulteGroup (NYSE: PHM) swung to a greater than expected profit for the second quarter as revenue rose.

Second quarter earnings slipped for Akamai Technologies (Nasdaq: AKAM) but the results beat analyst expectations as revenue climbed.

Crocs (Nasdaq: CROX) reported higher second quarter earnings that topped analyst estimates.

On the downside

Ferro (NYSE: FOE) fell to a larger than expected loss for the second quarter and cut its full year earnings guidance.

LogMeIn (Nasdaq: LOGM) reported lower second quarter earnings even as revenue rose and forecast current quarter and full year results that fell short of analyst expectations.

Synacor (Nasdaq: SYNC) reported higher second quarter earnings and revenue but the company forecast current quarter and full year revenue below estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 777.
Reassurances that the European Central Bank will act to support the euro sent the markets soaring during the midday with the Dow jumping 187 points to 12,863. Nasdaq climbed 30 points to 2884.

On the upside

LSI (NYSE: LSI) reported sharply higher second quarter earnings that more than doubled to beat expectations as revenue surged.

Second quarter earnings soared for MetroPCS (NYSE: PCS) to surpass analyst estimates by a wide margin and announced that it will successfully implement its 4G LTE network by the end of the third quarter.

Terex (NYSE: TEX) reported second quarter earnings that soared as revenue jumped.

On the downside

The Interpublic Group of Companies (NYSE: IPG) reported lower second quarter earnings as revenue slipped to fall short of expectations.

Timken (NYSE: TKR) reported higher second quarter earnings and revenue but the company revenue missed estimates and the company cut its earnings guidance for the year.

First quarter earnings fell for Quality Systems (Nasdaq: QSII) to miss expectations by a wide margin.

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 Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 773.
The markets soared to a sharply higher open with the Dow leaping 196 points to 12,872 after European Central Bank president Mario Draghi suggested that the bank may purchase Spanish and Italian bonds. Nasdaq surged 41 points to 2895.

On the upside

Sprint (NYSE: S) widened second quarter losses but revenue rose to top analyst estimates prompting the wireless communications services provider to lift its full year outlook.

Fourth quarter earnings for Western Digital (Nasdaq: WDC) surged to surpass analyst expectations by a wide margin as revenue nearly doubled.

A Seeking Alpha contributor expects Seagate Technology (Nasdaq: STX) to report impressive earnings next week.

On the downside

Zynga (Nasdaq: ZNGA) disappointed by falling to a wider than expected loss for the second quarter and slashing its guidance for the full year prompting downgrades.

Second quarter earnings plunged for Las Vegas Sands (NYSE: LVS) to fall far short of expectations.

Barrick Gold (NYSE: ABX) reported sharply lower second quarter earnings and warned of soaring costs to build its Pascua-Lama gold mine.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 2 on the NYSE and by nearly 7 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 778.
The markets closed mixed with the Dow rising 58 points to 12,676 while Nasdaq lost 8 points to 2854 as investors digested a sharp drop in new home sales.

On the upside

Thermo Fisher Scientific (NYSE: TMO) reported lower second quarter earnings but the results were better than expected.

Lumber Liquidators Holdings (NYSE: LL) reported higher second quarter earnings and revenue that surpassed analyst expectations.

Second quarter earnings and revenue climbed for SolarWinds (NYSE: SWI) to beat estimates.

On the downside

Corning (NYSE: GLW) reported lower second quarter earnings and revenue that missed analyst expectations.

USG (NYSE: USG) reported a larger than expected loss for the second quarter.

Shares of Peabody Energy (NYSE: BTU) continued falling after reporting lower second quarter earnings yesterday.

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 Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 769.
A sharp drop in new home sales dampened hope for a housing recovery. The markets traded mixed during the midday with the Dow rising 49 points to 12,667 while Nasdaq slipped 6 points to 2856.

On the upside

Tempur-Pedic (NYSE: TPX) reported lower second quarter earnings and revenue but the results surpassed analyst expectations.

Second quarter earnings and revenue dropped for Altera (Nasdaq: ALTR) but the results beat expectations by a wide margin.

InvenSense (NYSE: INVN) reported lower first quarter earnings but revenue rose to top estimates.

On the downside

RF Micro Devices (Nasdaq: RFMD) fell to a loss for the first quarter as revenue dropped.

WellPoint (NYSE: WLP) disappointed with lower second quarter earnings that fell short of expectations and cut its full year guidance.

RadioShack (NYSE: RSH) fell to an unexpected loss for the second quarter even as revenue rose and suspended its dividend.

In the broad market, advancing issues were on par with decliners on the NYSE and while advancers outpaced decliners by more than 7 to 5 Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 769.
The markets opened mixed with the Dow gaining 54 points to 12,672 while Nasdaq lost 14 points to 2848. Construction equipment maker Caterpillar reported strong earnings but sales of new homes fell more than expected in June.

On the upside

Riverbed Technology (Nasdaq: RVBD) reported higher second quarter earnings that topped analyst expectations and forecast current quarter revenue ahead of estimates.

First quarter earnings slipped for Symantec (Nasdaq: SYMC) but revenue rose and the company named chairman Steve Bennett to replace chief executive Enrique Salem effective immediately.

Juniper Networks (NYSE: JNPR) reported lower second quarter earnings and revenue but the results were better than expected.

On the downside

Netflix (Nasdaq: NFLX) reported sharply lower second quarter earnings as subscriber growth slowed and warned of losses at the end of the year.

International Game Technology (NYSE: IGT) disappointed with sharply lower third quarter earnings that fell short of analyst expectations.

Weatherford International (NYSE: WFT) reported higher second quarter earnings and revenue but the oilfield services firm took a $100 million charge.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 2 to 1 Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 770.
Disappointing corporate earnings sent the markets tumbling to a sharply lower close with the Dow plunging 104 points to 12,617. Nasdaq dropped 27 points to 2862.

On the upside

Shares of Chuy's Holdings (Nasdaq: CHUY) soared on its first trading day.

CoreLogic (NYSE: CLGX) reported higher second quarter earnings and revenue that surpassed analyst expectations.

Sanmina (Nasdaq: SANM) reported lower third quarter earnings but revenue topped analyst estimates.

On the downside

Lexmark International (NYSE: LXK) disappointed with sharply lower second quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates.

Analysts expect Arch Coal (NYSE: ACI) to report a loss for the second quarter on Friday.

Boyd Gaming (NYSE: BYD) reversed year ago losses but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and on by 5 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 767.
The markets extended its losses during the midday with the Dow plummeting 144 points to 12,577 over disappointing earnings. Nasdaq fell 22 points to 2867.

On the upside

The Paragon Report issued an equity research paper on StemCells (Nasdaq: STEM) noting recent promising results from a preclinical study on Alzheimer's disease.

A Seeking Alpha contributor listed four reasons to purchase shares of Catalyst Pharmaceuticals (Nasdaq: CPRX).

Regions Financial (NYSE: RF) reported sharply higher second quarter earnings that beat analyst expectations as the company wrote more mortgage and commercial loans.

On the downside

Peabody Energy (NYSE: BTU) reported lower second quarter earnings, forecast current quarter earnings below estimates and cut its production guidance for the year.

WebMD (Nasdaq: WBMD) warned of losses for the second quarter with revenue expected to fall short of its previous guidance and forecast a loss for the full year.

Bruker (Nasdaq: BRKR) reported preliminary second quarter earnings and revenue that fell far short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and on by nearly 5 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 770.
Germany's Aaa credit rating was cut to Negative from Stable by Moody's sending the markets down to a lower open with the Dow dropping 54 points to 12,666. Nasdaq lost 7 points to 2882.

On the upside

Sarepta Therapeutics (Nasdaq: SRPT) reported positive results from a Phase IIb clinical trial of its Duchenne muscular dystrophy treatment eteplirsen.

Second quarter earnings surged for Baidu (Nasdaq: BIDU) to beat analyst expectations as revenue soared.

Under Armour (NYSE: UA) reported higher second quarter earnings and revenue prompting the athletic apparel maker to lift its full year revenue outlook.

On the downside

Alzheimer's disease treatment bapineuzumab developed by Pfizer (NYSE: PFE), Johnson & Johnson (NYSE: JNJ) and Elan (NYSE: ELN) failed a late stage clinical trial.

Gentex (Nasdaq: GNTX) reported higher second quarter earnings and revenue but the results fell short of analyst expectations.

DeVry (NYSE: DV) warned that fourth quarter results will miss expectations by a wide margin and announced the elimination of 570 positions prompting a downgrade.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and on by more than 7 to 5 Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 776.
The ongoing debt crisis in Europe continued to weigh on investor sentiment sending the markets tumbling to a sharply lower close with the Dow plunging 101 points to 12,721. Nasdaq plummeted 35 points to 2890.

On the upside

German conglomerate Joh. A. Benckiser will take Peet's Coffee & Tea (Nasdaq: PEET) private in a deal valued at approximately $1 billion.

Moody's Investors Service downgraded Nokia's (NYSE: NOK) credit rating from Ba1 to Ba3 but the stock price rose.

Genesee & Wyoming will pay a premium of approximately $1.39 billion in cash to acquire rival RailAmerica (NYSE: RA).

On the downside

Shares of Micron Technology (Nasdaq: MU) fell after Nikkei reported that Toshiba will slash NAND flash memory production by 30%.

Analysts expect Sprint (NYSE: S) to report a loss for the second quarter on Thursday before market open.

Retreating gold and silver prices weighed down share of Freeport-McMoRan Copper & Gold (NYSE: FCX).

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 12 points to 778.

Spain Worries Weigh Down Stocks

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Fears that Spain may need additional bailout funds sent the markets tumbling during the midday with the Dow plummeting 124 points to 12,698. Nasdaq plunged 41 points to 2883.

On the upside

The Paragon Report issued an equity research report on Peregrine Pharmaceuticals (Nasdaq: PPHM) last week saying that shares of the biotechnology firm would continue soaring for the rest of the year.

Bargain hunters lifted shares of Arena Pharmaceuticals (Nasdaq: ARNA), whose stock price fell last week when the Food and Drug Administration approved Vivus' (Nasdaq: VVUS) competing obesity treatment Qsymia.

Eaton (NYSE: ETN) reported higher second quarter earnings even as revenue slipped.

On the downside

Teen apparel retailer Wet Seal (Nasdaq: WTSLA) fired chief executive Susan McGalla citing declining sales.

PetMed Express (Nasdaq: PETS) reported lower first quarter earnings and revenue that fell short of analyst expectations.

Deutsche Bank downgraded Akorn (Nasdaq: AKRX) to a Hold rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 12 points to 779.
Continued concerns about the European debt crisis sent the markets tumbling to a sharply lower open with the Dow collapsing 208 points to 12,613. Nasdaq sank 62 points to 2862.

On the upside

Chinese oil company CNOOC will pay approximately $15.1 billion to acquire Canadian energy company Nexen (NYSE: NXY).

NRG Energy (NYSE: NRG) will acquire GenOn Energy (NYSE: GEN) for approximately $1.7 billion in stock.

Talisman Energy (NYSE: TLM) will sell a 49% interest in its UK North Sea assets to Sinopec for approximately $1.5 billion.

On the downside

Banco Bradesco (NYSE: BBD) reported higher second quarter earnings but the results fell short of analyst expectations prompting the Brazilian bank to lower its lending growth guidance for the year.

Shares of Las Vegas Sands (NYSE: LVS) dropped after three murders in Macau over the past two weeks sparked fears that violent crime will keep patrons away from the gambling capital of the world.

InterMune (Nasdaq: ITMN) swung to a profit for the second quarter but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 16 points to 775.
Concerns about Spain's financial crisis sent the markets tumbling to a sharply lower close with the Dow sinking 120 points to 12,822. Nasdaq plummeted 40 points to 2925.

On the upside

The Food and Drug Administration approved Onyx Pharmaceuticals' (NYSE: ONXX) multiple myeloma treatment Kyprolis.

StemCells (Nasdaq: STEM) advanced again after reporting positive results from an Alzheimer's disease study on Tuesday.

The European Medicines Agency's Committee for Medical Products for Human Use recommended approval for Astex Pharmaceuticals' (Nasdaq: ASTX) secondary acute myeloid leukemia treatment Dacogen.

On the downside

Xerox (NYSE: XRX) reported lower second quarter earnings and revenue and cut its earnings guidance for the full year.

A surge in borrowing costs for Spain weighed down shares of Banco Bilbao (NYSE: BBVA).

Rambus (Nasdaq: RMBS) widened second quarter losses as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 10 points to 791.
The markets extended its losses during the midday with the Dow plummeting 107 points to 12,836 as soaring borrowing costs for Spain renewed concerns about the global economy. Nasdaq plunged 32 points to 2933.

On the upside

Cemex (NYSE: CX) narrowed second quarter losses.

Shares of Palo Alto Networks (NYSE: PANW) surged in its market debut.

Kayak (Nasdaq: KYAK) stock soared on its first trading day.

On the downside

Shares of Vivus (Nasdaq: VVUS) extended its losses as investors locked in profits on the biopharmaceutical.

Societe Generale upgraded Nokia (NYSE: NOK) to a Hold rating but the stock price fell as investors locked in profits.

Shares of Banco Santander (NYSE: SAN) fell as Spain's borrowing costs soared.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 8 points to 793.
The soaring cost for Spain to borrow money sent the markets tumbling to a lower open with the Dow dropping 73 points to 12,869. Nasdaq fell 15 points to 2950.

On the upside

Baker Hughes (NYSE: BHI) reported higher second quarter earnings that beat analyst expectations.

Second quarter earnings plunged for SanDisk (Nasdaq: SNDK) but the results were better than expected.

New Oriental Education and Technology Group (NYSE: EDU) formed an independent special committee to review allegations made by Muddy Waters on Wednesday.

On the downside

Advanced Micro Devices (NYSE: AMD) disappointed with sharply lower second quarter earnings that fell short of expectations.

Second quarter earnings surged for Chipotle Mexican Grill (NYSE: CMG) but the revenue missed analyst estimates.

Cepheid (Nasdaq: CPHD) reported lower second quarter earnings even as revenue rose.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 7 points to 794.
Initial applications for unemployment benefits climbed but the markets closed modestly higher with the Dow rising 34 points to 12,943 on upbeat earnings news. Nasdaq gained 23 points to 2965.

On the upside

Fudzilla.com reported that Seagate Technology (Nasdaq: STX) may be exploring a possible acquisition of rival OCZ Technology Group (Nasdaq: OCZ).

Panasonic will integrate Rovi's (Nasdaq: ROVI) DivX Plus Streaming technology into its UniPhier® series of digital television and Blu-ray Disc solutions.

Textron (NYSE: TXT) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin as revenue climbed.

On the downside

Shares of U. S. Airways (NYSE: LCC) fell after AMR chief executive Tom Horton said that the bankrupt airliner was in no hurry to merge.

Investors locked in profits on Vivus (Nasdaq: VVUS) yesterday after the Food and Drug Administration approved the biopharmaceutical's obesity treatment Qsymia.

The Brazilian Agency of Telecommunications blocked the sale of new TIM Participacoes (NYSE: TSU) mobile lines in nineteen states.

In the broad market, advancing issues edged out decliners by a margin of more than 10 to 9 on the NYSE while decliners outpaced advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 802.
The markets advanced during the midday with the Dow gaining 55 points to 12,963 as mortgage rates dropped to record lows. Nasdaq climbed 31 points to 2973.

On the upside

New Oriental Education & Technology Group (NYSE: EDU) rejected allegations by Muddy Waters that the company franchised its learning centers and included financial results of the franchisees into its own financial reports.

Third quarter earnings slipped for Skyworks Solutions (Nasdaq: SWKS) but the results topped analyst estimates prompting an upgrade.

Shares of preteen retailer Five Below (Nasdaq: FIVE) leaped on its first trading day.

On the downside

Johnson Controls (NYSE: JCI) reported higher third quarter earnings and revenue but the results fell short of analyst expectations prompting a downgrade.

Shares of Rite Aid (NYSE: RAD) fell after rival Walgreen (NYSE: WAG) settled its months long dispute with Express Scripts (Nasdaq: ESRX).

Diana Containerships (Nasdaq: DCIX) priced its public offering of 8.1 million common shares at the discounted price of $6.25 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 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 804.
Upbeat corporate earnings tempered a gain in jobless claims to lift the markets to a modestly higher open with the Dow adding 9 points to 12,918. Nasdaq rose 14 points to 2957.

On the upside

Second quarter earnings more than doubled for eBay (Nasdaq: EBAY) to top analyst estimates as revenue soared.

Walgreen (NYSE: WAG) and Express Scripts (Nasdaq: ESRX) ended their seven month dispute with a multiyear agreement that begins on September 15.

Nokia (NYSE: NOK) widened second quarter losses as revenue fell but the company sold more Lumia phones than expected.

On the downside

Anthera Pharmaceuticals (Nasdaq: ANTH) priced its public offering of common stock at the discounted price of $1.00 per share.

Morgan Stanley (NYSE: MS) reversed year ago losses to post a profit for the second quarter but the results fell short of analyst expectations and revenue dropped.

Safeway (NYSE: SWY) blamed higher expenses for a drop in second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 802.
Housing starts climbed in June to the highest level in more than three years to boost the markets to a sharply higher close with the Dow soaring 103 points to 12,908. Nasdaq leaped 38 points to 2948.

On the upside

Aruba Networks (Nasdaq: ARUN) was selected as the official wireless network provider for Black Hat USA 2012 for the fourth year in a row.

Amphenol (NYSE: APH) reported higher second quarter earnings that topped analyst estimates and lifted its full year guidance.

VMware (NYSE: VMW) named EMC (NYSE: EMC) executive Pat Gelsinger as its new chief executive.

On the downside

Knight Capital (NYSE: KCG) blamed losses from the Facebook (Nasdaq: FB) initial public offering for sharply lower second quarter earnings.

Harte-Hanks (NYSE: HHS) blamed an impairment charge for warning of a second quarter loss.

Stifel Nicolaus downgraded Penn Virginia (NYSE: PVA) to a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 805.
The markets advanced during the midday with the Dow soaring 107 points to 12,912 as June housing start climbed to its highest level October 2008. Nasdaq leaped 38 points to 2948.

On the upside

The U. S. Patent and Trademark Office issued a patent Galena Biopharma (Nasdaq: GALE) for its NeuVax breast cancer vaccine.

EMC (NYSE: EMC) reported higher preliminary second quarter earnings and revenue.

Second quarter earnings rose for Check Point Software Technologies (Nasdaq: CHKP) to top analyst estimates.

On the downside

Oppenheimer downgraded New Oriental Education & Technology Group (NYSE: EDU) to a Market Perform rating.

Sally Beauty Holdings (NYSE: SBH) disappointed with flat preliminary third quarter earnings and announced that largest shareholder Clayton, Dubilier & Rice was selling its 23.1 million shares of the cosmetic products retailer.

United Rentals (NYSE: URI) fell to a loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 807.
An increase in June housing starts lifted the markets to a higher open with the Dow rising 18 points to 12,824. Nasdaq gained 20 points to 2930.

On the upside

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

Honeywell International (NYSE: HON) reported higher second quarter earnings that topped analyst estimates as revenue rose.

The Food and Drug Administration approved Vivus' (NYSE: VVUS) obesity drug Qsymia making it the second weight loss medication to receive regulatory approval in less that one month.

On the downside

Rovi (Nasdaq: ROVI) warned of wider losses for the second quarter earnings and full year results that would fall far short of analyst expectations prompting downgrades.

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) fell after rival Vivus (NYSE: VVUS) received approval for its weight loss drug Qsymia which will compete against Arena's recently approved Belviq.

Investors locked in profits on StemCells (Nasdaq: STEM) whose stock price soared yesterday after announcing positive preclinical data for its human neural stem cell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up 2 points to 801.
The markets closed higher with the Dow gaining 78 points to 12,805 as upbeat corporate earnings tempered disappointment that Federal Reserve Chairman failed to lower interest rates. Nasdaq climbed 13 points to 2910.

On the upside

Anthera Pharmaceuticals (Nasdaq: ANTH) announced reported positive results from a Phase 2b PEARL-SC trial of its systemic lupus erythematosus treatment blisibimod.

Shares of Sprint Nextel (NYSE: S) continued rising after launching its new 4G LTE wireless data network yesterday.

McMoRan (NYSE: MMR) widened second quarter losses more than expected but the company expects to test its Davy Jones No. 1 well at the end of the month.

On the downside

Shares of Vivus (Nasdaq: VVUS) dropped ahead of the Food and Drug Administration's decision on the biopharmaceutical's obesity treatment Qnexa.

Alcatel-Lucent (NYSE: ALU) warned that second quarter results would fall short of analyst expectations.

The Securities and Exchange Commission launched an investigation into New Oriental Education's (NYSE: EDU) financial statements.

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 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 799.
The markets opened higher with the Dow climbing 63 points to 12,791 ahead of Federal Reserve Chairman Ben Bernanke's testimony before Congress today. Nasdaq gained 15 points to 2913.

On the upside

Goldman Sachs (NYSE: GS) reported lower second quarter earnings and revenue but the results beat analyst expectations by a wide margin.

Yahoo (Nasdaq: YHOO) named Google (Nasdaq: GOOG) executive Marissa Mayer as its new chief executive.

Mattel (NYSE: MAT) reported higher second quarter earnings.

On the downside

Second quarter earnings rose for J. B. Hunt Transport Services (Nasdaq: JBHT) but revenue fell short of expectations.

Nabors Industries (NYSE: NBR) warned that second quarter earnings would miss analyst estimates.

Johnson & Johnson (NYSE: JNJ) disappointed with sharply lower second quarter earnings and revenue and trimmed its full year earnings outlook.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 800.
June retail sales unexpectedly fell to send the markets down to a lower close with the Dow losing 49 points to 12,727. Nasdaq fell 11 points to 2896.

On the upside

Alnylam Pharmaceuticals (Nasdaq: ALNY) reported positive results from a Phase I clinical trial of its TTR-mediated amyloidosis treatment ALN-TTR02.

The Wall Street Journal reported that C&S Wholesale Grocers may explore acquiring the distribution unit of Supervalu (NYSE: SVU).

Sprint Nextel (NYSE: S) launched its 4G LTE wireless data network.

On the downside

Facebook (Nasdaq: FB) acquired the development talent behind mobile app maker Spool.

Green Mountain Coffee Roasters (Nasdaq: GMCR) continued falling after Stifel Nicolaus cut its earnings guidance for the company last week.

BMO Capital Markets analyst Amit Sharma downgraded Dean Foods (NYSE: DF) to a Market Perform rating citing rising feed expenses.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 796.
A drop in June retail sales weighed the markets down to a lower open with the Dow falling 58 points to 12,718. Nasdaq lost 13 points to 2894.

On the upside

GlaxoSmithKline (NYSE: GSK) is close to finalizing a deal to acquire Human Genome Sciences (Nasdaq: HGSI) for as much as $3 billion.

Citigroup (NYSE: C) reported lower second quarter earnings but the results beat analyst expectations.

TPG will pay a premium of approximately $1.9 billion to take Par Pharmaceutical Companies (NYSE: PRX) private.

On the downside

AT&T (NYSE: T) slashed the price of Nokia's (NYSE: NOK) flagship Lumia 900 by half.

IsoRay (NYSE: ISR) announced a registered direct placement of $3.5 million worth of common stock.

BMO Capital downgraded Alpha Natural Resources (NYSE: ANR) to an Underperform rating.

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 slipped 2 points to 798.
Despite a drop in July consumer sentiment, the markets surged to close sharply higher with the Dow rocketing 203 points to 12,777 over expectations that China will adopt additional economic stimulus measures. Nasdaq leaped 42 points to 2908.

On the upside

A Seeking Alpha contributor suggested that Canadian Solar (Nasdaq: CSIQ) could soar 275%.

FBR Capital initiated coverage of Wabash National (NYSE: WNC) with an Outperform rating.

Analysts expect Qualcomm (Nasdaq: QCOM) to report higher third quarter earnings next week.

On the downside

Acadia Pharmaceuticals (Nasdaq: ACAD) halted development of its schizophrenia drug AM-831 after it failed a Phase I clinical trial.

Shares of Supervalu (NYSE: SVU) continued falling after reporting sharply lower earnings yesterday.

Lexmark (Nasdaq: LXK) cut its guidance for the second quarter due to weaker than expected demand.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 11 points to 800.
The markets extended its gains during the midday with the Dow jumping 174 points to 12,748 as slower than expected expansion of the Chinese economy sparked speculation of further stimulus measures. Nasdaq surged 38 points to 2904.

On the upside

Shares of Affymax (Nasdaq: AFFY) continued climbing after announcing yesterday that nationwide dialysis center operator Fresenius Medical Care would use its anemia treatment Omontys.

Bank of America Merrill Lynch lifted its earnings guidance for Orexigen Therapeutics (Nasdaq: OREX).

Rising gold prices lifted shares of Kinross Gold (NYSE: KGC).

On the downside

Stifel Nicolaus analyst Mark Astrachan cut his earnings guidance for Green Mountain Coffee Roasters (Nasdaq: GMCR).

Bank of America initiated coverage of Questcor Pharmaceuticals (Nasdaq: QCOR) with a Buy rating and set a $60 price target but the stock price tumbled.

A Seeking Alpha contributor raised questions about James River Coal's (Nasdaq: JRCC) liquidity.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 800.
Speculation that China may announce further economic stimulus measures lifted the markets to a sharply higher open with the Dow soaring 142 points to 12,715. Nasdaq climbed 26 points to 2893.

On the upside

JPMorgan Chase (NYSE: JPM) reported a greater than expected profit for the second quarter even as its trading loss surged to $4.4 billion.

The Blackstone Group's GSO Capital Partners will pay approximately $125 million to acquire a portfolio of land parcels from Hovnanian Enterprises (NYSE: HOV).

Athene Holding will pay a premium of approximately $415 million in cash to acquire Presidential Life (Nasdaq: PLFE).

On the downside

Ampio Pharmaceuticals (Nasdaq: AMPE) priced its offering of approximately 4.6 million common shares at the discounted price of $3.25 per share.

Box Ships (NYSE: TEU) priced its public offering at the discounted price of $7.00 per share.

Bridgepoint Education's (NYSE: BPI) Ashford University received a Special Monitoring status letter from the Board of Trustees of the Higher Learning Commission of the North Central Association of Schools and Colleges.

In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 10 points to 800.
Earnings warnings among technology stocks weighed the markets down to a lower close with the Dow losing 31 points to 12,573. Nasdaq fell 21 points to 2866.

On the upside

MKM Partners expects MBIA (NYSE: MBI) to settle its lawsuit with Bank of America (NYSE: BAC) soon.

Constellation Brands (NYSE: STZ) Executive Vice President and Chief HR/Admin  Officer W. Keith Wilson sold 246,795 shares of company stock but the stock price climbed.

Standard Pacific's (NYSE: SPF) credit default swaps have narrowed since the beginning of the year.

On the downside

Marriott International (NYSE: MAR) reported higher second quarter earnings but the hotel operator cut its 2012 fee revenue guidance.

Brazil may fine TIM Participacoes (NYSE: TSU) for service complaints.

Barclays Capital analyst Ben Reitzes downgraded Lexmark (NYSE: LXK) to an Underweight rating and cut his price target from $29 to $24.

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 slipped 2 points to 789.
The markets recovered earlier losses but continued to trade lower with the Dow slipping 13 points to 12,591 as investors remain cautious about the global economy. Nasdaq dropped 23 points to 2864.

On the upside

Affymax (Nasdaq: AFFY) will supply its anemia treatment Omontys to nationwide dialysis center operator Fresenius Medical Care.

Pandora Media (NYSE: P) introduced a trial service in Australia and New Zealand.

Fastenal (Nasdaq: FAST) reported higher second quarter earnings but revenue fell short of expectations.

On the downside

Cal Dive (NYSE: DVR) warned that second quarter earnings would miss analyst estimates.

Shares of Safeway (NYSE: SWY) dropped after rival Supervalu (NYSE: SVU) reported sharply lower earnings that missed estimates by a wide margin.

Calix (NYSE: CALX) blamed slowing demand for cutting its outlook for the second quarter.

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 fell 5 points to 787.
Despite a drop in jobless claims, the markets opened lower with the Dow plunging 107 points to 12,497 over disappointing earnings reports. Nasdaq plummeted 48 points to 2839.

On the upside

Complete Genomics (Nasdaq: GNOM) continued rising after announcing a new whole genome sequencing technology yesterday.

Merck (NYSE: MRK) halted a late-stage clinical trial of its osteoporosis treatment odanacatib due to strong evidence that the drug was effective.

SAP (NYSE: SAP) pre-announced higher second quarter earnings that surpassed analyst expectations.

On the downside

Supervalu (NYSE: SVU) reported sharply lower first quarter earnings that fell far short of analyst expectations, suspended its dividend and announced a review of strategic options including the possible sale of the grocery store chain.

Infosys (Nasdaq: INFY) reported higher first quarter earnings and revenue but the company lowered its full year outlook.

ImmunoGen (Nasdaq: IMGN) priced its public offering of 6.25 million common shares at the discounted price of $16 per share.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 780.
Minutes from the Federal Reserve's meeting indicated that additional stimulus measures may be implemented if the economy worsened. The markets closed lower with the Dow dropping 48 points to 12,604 while Nasdaq fell 14 points to 2887.

On the upside

Complete Genomics (Nasdaq: GNOM) announced that its breakthrough Long Fragment Read technology dramatically improved whole genome sequencing accuracy.

Ocean Power Technologies (Nasdaq: OPTT) will jointly develop with Lockheed Martin (NYSE: LMT) a 19 megawatt wave energy project in Victoria, Australia.

Shares of HomeTrust Bancshares (Nasdaq: HTBI) climbed in its market debut.

On the downside

Shares of the nation's largest dairy processor Dean Foods (NYSE: DF) fell as the continued drought in the Midwest lifted animal feed prices.

Quantum (NYSE: QTM) stock continued falling after warning of that earnings will miss estimates on Monday.

Shares of Huntsman (NYSE: HUN) extended its losses after Jefferies downgraded the stock last week.

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 slipped 2 points to 792.
The markets extended its losses during the midday with the Dow falling 30 points to 12,622 as wholesale sales fell in May. Nasdaq dropped 15 points to 2887.

On the upside

Rumors that Abercrombie & Fitch (NYSE: ANF) may announced a stock repurchase plan lifted shares of the teen apparel retailer.

Credit Suisse upgraded Enerplus (NYSE: ERF) to an Outperform rating.

A Seeking Alpha contributor listed City Telecom (Nasdaq: CTEL) as one of three undervalued small cap technology stocks with strong earnings.

On the downside

ADTRAN (Nasdaq: ADTN) disappointed with lower second quarter earnings and revenue that fell short of analyst expectations.

Hhgregg (NYSE: HGG) cut its full year guidance and forecast first quarter results below estimates.

The Financial Post reported that Best Buy (NYSE: BBY) in Canada would open smaller stores and expand its merchandise offering to include clothing and kitchenware.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 792.
The markets opened lower with the Dow losing 16 points to 12,636 ahead of the release of minutes from the Federal Reserve's meeting. Nasdaq eased a point to 2901.

On the upside

Orexigen Therapeutics (Nasdaq: OREX) announced that enrollment for its Contrave cardiovascular clinical trial was much quicker than expected.

VeriFone Systems (NYSE: PAY) won a five-year $35 million contract to install and support driver and passenger information and payment systems in 6,500 taxi cabs in Washington, D.C.

A Seeking Alpha contributor wrote that Nokia (NYSE: NOK) had much upside potential.

On the downside

First quarter losses for OCZ Technology (Nasdaq: OCZ) was larger than expected as expenses surged.

Prospect Capital (Nasdaq: PSEC) priced its public offering of 21 million common shares at the discounted price of $11.15 per share.

Goldcorp (NYSE: CMI) cut its production guidance for 2012.

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 edged up a point to 796.

Earnings Warnings Sink Stocks

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A series of earnings warnings weighed the markets down to a lower close with the Dow tumbling 83 points to 12,653. Nasdaq dropped 29 points to 2902.

On the upside

Origin Agritech (Nasdaq: SEED) announced that the commercialization of two corn hybrids is awaiting approval from the Chinese government.

Rumors that AerCap (NYSE: AER) may sell itself lifted shares of the integrated aviation company.

Professional staffing firm Kforce (Nasdaq: KFRC) partnered with Monster Worldwide (NYSE: MWW) to deploy Monster's Power Resume Search technology.

On the downside

Citron Research alleged that Questcor Pharmaceuticals (Nasdaq: QCOR) marketed its multiple sclerosis treatment Acthar in questionable ways.

Beazer Homes (NYSE: BZH) will offer $75 million worth of common shares and 3 million equity units.

Cummins (NYSE: CMI) lowered its full year revenue outlook.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 795.
Concerns about disappointing corporate earnings weighed the markets down during the midday with the Dow slipping 6 points to 12,730. Nasdaq lost 14 points to 2916.

On the upside

A Seeking Alpha contributor suggested that Sunshine Heart (Nasdaq: SSH) may record its first sale in the second half of the year.

BioMimetic Therapeutics (Nasdaq: BMTI) submitted an amended Pre-Market Approval application to the Food and Drug Administration for its Augment Bone Graft.

MagicJack VocalTec (Nasdaq: CALL) cited strong sales for boosting its full year guidance.

On the downside

Advanced Micro Devices (NYSE: AMD) blamed disappointing international sales for cutting its revenue guidance for the second quarter.

Quantum (NYSE: QTM) warned that first quarter results would fall short of its previous guidance.

Shares of Alpha Natural Resources (NYSE: ANR), Arch Coal (NYSE: ACI) and James River Coal (Nasdaq: JRCC) extended their losses after Patriot Coal (NYSE: PCX) filed for Chapter 11 bankruptcy protection yesterday.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 802.
The markets opened mixed with the Dow rising 5 points to 12,741 while Nasdaq slipped 6 points to 2925 as concerns about corporate earnings tempered enthusiasm for the Eurozone bailout of Spanish banks.

On the upside

Intel (NYSE: INTC) will acquire a 15% stake in ASML Holding (Nasdaq: ASML) for approximately $3.07 billion and invest $1 billion to develop new technologies.

Southwest Airlines (Nasdaq: LUV) will add two direct flights to New York from Nashville and announced new low fare sales for flights nationwide.

Wolverwine Worldwide (NYSE: WWW) reported lower second quarter earnings that fell short of expectations but the shoemaker affirmed its full year forecast.

On the downside

Applied Materials (NYSE: AMD) blamed falling demand for cutting its full year revenue guidance and warning that earnings will fall short of expectations.

Mako Surgical (Nasdaq: MAKO) cut its full year revenue guidance due to lower than expected sales of its RIO surgical robot system.

Mattson Techology (Nasdaq: MTSN) lowered its second quarter sales and earnings outlook.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 806.
Concerns about corporate earnings weighed the markets down to a lower close with the Dow losing 36 points to 12,736. Nasdaq slipped 5 points to 2931.

On the upside

Shares of Medicaid insurers Centene (Nasdaq: CNC), Molina Healthcare (NYSE: MOH) and Wellcare Health (NYSE: WCG) all rose after WellPoint (NYSE: WLP) announced plans to acquire Amerigroup (NYSE: AGP).

A Seeking Alpha contributor listed Galena Biopharma (Nasdaq: GALE) as one of three small cap pharmaceuticals that the author may buy.

Jamba Juice (Nasdaq: JMBA) announced the grand opening of its joint venture store with Venus Williams in Washington DC.

On the downside

Patriot Coal (NYSE: PCX) filed for Chapter 11 bankruptcy protection.

Shares of Alpha Natural Resources (NYSE: ANR), Arch Coal (NYSE: ACI) and James River Coal (Nasdaq: JRCC) all fell after Patriot Coal (NYSE: PCX) filed for bankruptcy.

Shares of Pilgrim's Pride (NYSE: PPC) continued falling over concerns about Mexico's bird flu outbreak.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 804.

Stocks Fall Ahead Of Earnings

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The markets traded lower during the midday with the Dow dropping 51 points to 12,720 ahead of corporate earnings reports. Nasdaq slipped 7 points to 2929.

On the upside

Central European Distribution (Nasdaq: CEDC) announced the resignation of chairman, president and chief executive Willaim V. Carey. The vodka maker also signed amended agreements on its strategic alliance with Russian Standard.

Sales of Questcor Pharmaceuticals' (Nasdaq: QCOR) multiple sclerosis treatment Acthar climbed in the second quarter.

A Seeking Alpha contributor listed three developments indicating that Antares Pharma (Nasdaq: ATRS) would rise.

On the downside

Luminex (Nasdaq: LMNX) will acquire privately held GenturaDx for approximately $50 million in cash.

Shares of A123 Systems (Nasdaq: AONE) continued falling after announcing that it only had enough cash to fund operations for five more months.

News that Facebook (Nasdaq: FB) may enter the professional networking space with a job listing board sent shares of LinkedIn (NYSE: LNKD) tumbling.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 803.

Lower Open Ahead Of Earnings

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The markets opened lower with the Dow falling 45 points to 12,727 as corporations begin reporting earnings after market close. Nasdaq lost 8 points to 2928.

On the upside

WellPoint (NYSE: WLP) will pay approximately $4.46 billion in cash to acquire Amerigroup (NYSE: AGP).

Roth Capital upgraded Nanosphere (Nasdaq: NSPH) to a Buy rating.

Thomson Reuters (NYSE: TRI) will pay a premium of approximately $625 million in cash to acquire FX Alliance (NYSE: FX).

On the downside

Profit taking sank shares of Patriot Coal (NYSE: PCX).

The Western Association of Schools and Colleges denied accreditation for Bridgepoint Education's (NYSE: BPI) Ashford University.

FBR Capital Markets downgraded SolarWinds (NYSE: SWI) to Market Perform from Outperform.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 801.
Stagnant hiring in June renewed fears of a stalled economic recovery to send the markets down to a sharply lower close with the Dow collapsing 124 points to 12,772. Nasdaq tumbled 38 points to 2937.

On the upside

Jamba Juice (Nasdaq: JMBA) partnered with USA Water Polo to fight childhood obesity.

Speculation that Research in Motion (Nasdaq: RIMM) may be acquired for its intellectual property lifted shares of the Blackberry maker.

Motley Fool listed three reasons to purchase shares of Green Mountain Coffee Roasters (Nasdaq: GMCR).

On the downside

Informatica's (Nasdaq: INFA) earnings warning weighed down shares of fellow enterprise software firms Teradata (NYSE: TDC) and Qlik Technologies (Nasdaq: QLIK).

A123 (Nasdaq: AONE) will raise approximately $39 million but analysts say that the battery maker needs to raise much more capital to remain viable.

Standard & Poor's Ratings Service downgraded the outlook of Walter Energy (NYSE: WLT) to negative while affirming its corporate credit rating of BB-.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 10 points to 807.
The markets extended its losses during the midday with the Dow collapsing 167 points to 12,729 as employers added a mere 80,000 jobs in June. Nasdaq plummeted 50 points to 2925.

On the upside

Xyratex (Nasdaq: XRTX) swung to a profit for the second quarter and forecast current quarter earnings ahead of analyst estimates.

A Seeking Alpha contributor wrote that Antares Pharma (Nasdaq: ATRS) was a long term investment.

A Seeking Alpha contributor has optimistic expectations for Xoma (Nasdaq: XOMA).

On the downside

Oppenheimer lowered its price target on EMC (NYSE: EMC) yesterday to $32 from $34.

BMO Capital Markets analyst Tim Long lowered his second quarter revenue guidance and full year earnings and revenue outlook for Riverbed Technology (Nasdaq: RVBD).

Navistar International (NYSE: NAV) will introduce its clean engine solution In-Cylinder Technology Plus but investors were concerned about the costs of the new engine.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 806.
A disappointing job creation report sent the markets tumbling to a sharply lower open with the Dow plummeting 152 points to 12,744. Nasdaq plunged 37 points to 2938.

On the upside

Shares of Arena Pharmaceuticals (Nasdaq: ARNA) continued rising after announcing the promotion of Craig Audet yesterday to the position of Senior Vice President of Operations and Head of Global Regulatory Affairs.

US Airways (NYSE: LCC) unveiled a "30 Days for D.C." campaign to celebrate expanded service at Reagan National Airport and the addition of 100 new jobs.

ABC Mart of Japan will pay approximately $137 million to acquire LaCrosse Footwear (Nasdaq: BOOT).

On the downside

Informatica (Nasdaq: INFA) warned that second quarter earnings would fall far short of its previous guidance.

Acme Packet (Nasdaq: APKT) blamed weakness in North America for warning that second quarter results will fall short of expectations.

Investors locked in profits on Patriot Coal (NYSE: PCX).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 808.
Despite a gain in June private employer hiring, the markets closed lower with the Dow losing 47 points to 12,896 over continued global economic concerns. Nasdaq held steady at 2976.

On the upside

Arena Pharmaceuticals (Nasdaq: ARNA) promoted Craig M. Audet to the position of Senior Vice President, Operations and Head of Global Regulatory Affairs.

Kohl's (NYSE: KSS) reported a drop in June same store sales but sales improved at the end of the month.

LeapFrog (Nasdaq: LF) announced the resignation of chief financial officer Mark Etnyre effective October 1, 2012.

On the downside

Ampio Pharmaceuticals (Nasdaq: AMPE) founder and chief scientific officer Dr. David Bar-Or and chairman and lead investor Michael Macaluso extended their lock-up agreement from July 15, 2012 to January 2013.

UBS downgraded Veolia Environment (NYSE: VE) from Neutral to Sell.

Profit taking sank shares of BPZ Resources (NYSE: BPZ).

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 817.
The markets traded mixed during the midday with the Dow losing 23 points to 12,919 while Nasdaq rose 5 points to 2981 as upbeat jobs data tempered a drop in service sector growth.

On the upside

Ross Stores (Nasdaq: ROST) reported a greater than expected 7% increase in June same store sales.

June same store sales climbed more than expected for Limited Brands (NYSE: LTD).

Increasing use of coal in Europe continued to lift shares of James River Coal (Nasdaq: JRCC).

On the downside

Profit taking weighed down shares of Spanish banks Banco Santander (NYSE: SAN) and Banco Bilbao (NYSE: BBVA).

Intel (Nasdaq: INTC) lawyers told a European Union appeals court that a 2009 $1.33 billion fine was based on "utter nonsense."

Global economic concerns weighed down shares of JPMorgan Chase (NYSE: JPM).

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 edged up a fraction to 818.
Disappointing retail sales weighed the markets down to a lower open with the Dow dropping 64 points to 12,879. Nasdaq fell 11 points to 2964.

On the upside

Motley Fool said that Netflix (Nasdaq: NFLX) was a cheap stock.

Rising coal demand in Europe continued to lift shares of Patriot Coal (NYSE: PCX).

The Food and Drug Administration approved OraSure Technologies' (Nasdaq: OSUR) over-the-counter OraQuick In-Home HIV Test.

On the downside

Finland's prime minister said that the government will not bailout Nokia (NYSE: NOK).

HSBC Securities downgraded ArcelorMittal (NYSE: MT) to a Neutral rating and lowered its price target to $18.30 from $18.90.

Greece's Supreme Administrative Court provisionally suspended the cutting of trees in a forest area owned by Eldorado Gold (NYSE: EGO) subsidiary Hellas Gold.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more  than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 813.

U. S. Markets Closed

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U. S markets are closed in observance of the Independence Day holiday.
An upbeat factory orders report lifted the markets to a higher close on a shortened trading day before the Independence Day holiday with the Dow climbing 72 points to 12,943. Nasdaq gained 24 points to 2976.

On the upside

Verso Paper (NYSE: VRS) proposed a potential business combination with bankrupt NewPage.

An increase in the use of coal in Europe lifted shares of Alpha Natural Resources (NYSE: ANR) and Patriot Coal (NYSE: PCX).

Five Star Equities issued a research report on Keryx Biopharmaceuticals (Nasdaq: KERX).

On the downside

Shares of Groupon (Nasdaq: GRPN) continued falling after an analyst lowered his price target on the company from $15 to $12 and executive chairman and co-founder Eric Lefkofsky announced that he would step back from his duties.

UBS downgraded CTC Media (Nasdaq: CTCM) to a Neutral rating.

Profit taking sank shares of ATP Oil & Gas (Nasdaq: ATPG).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 818.
A greater than expected increase in May factory orders lifted the markets to a higher open with the Dow gaining 40 points to 12,911. Nasdaq rose 13 points to 2964.

On the upside

One Equity will pay a premium of approximately $1.1 billion in cash to acquire M*Modal (Nasdaq: MODL).

Jefferies upgraded Nanosphere (Nasdaq: NSPH) to a Buy rating.

Duke Energy (NYSE: DUK) completed its merger with Progress Energy and announced that Duke chief executive Jim Rogers will head the new combined company instead of Progress chief executive Bill Johnson.

On the downside

J. C. Penney (NYSE: JCP) will close its Plainfield, Indiana distribution center and lay off 230 employees.

The Food and Drug Administration recommended that Chelsea Therapeutics (Nasdaq: CHTP) conduct an additional study for its Northera new drug application.

Delta Air Lines (NYSE: DAL) was ranked tenth among the most disliked companies in America.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 812.

The markets closed mixed with the Dow slipping 8 points to 12,871 as disappointing manufacturing data sparked hope for additional stimulus measures. Nasdaq gained 16 points to 2951.

On the upside

Shares of Horizon Pharmaceuticals (Nasdaq: HZNP) rose in anticipation of regulatory approval of the company's rheumatoid arthritis treatment later this month.


Five Star Equities issued a research report on Patriot Coal (NYSE: PCX) saying that strong foreign demand will benefit the company.


Canaccord Genuity affirmed its Buy rating for Constellation Brands (NYSE: STZ).


On the downside


Youku (NYSE: YOKU) appointed Michael Xu to the position of chief financial officer.

 

Ryan & Maniskas filed a class action lawsuit against Tempur-Pedic International (NYSE: TPX) for securities violations.

  

Barclays downgraded PennVirgina (NYSE: PVA) to an Underweight rating.

In the broad market, advancing outpaced decliners by a margin of 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 807.

A contraction of June manufacturing activity in the United States weighed the markets down during the midday with the Dow losing 37 points to 12,842. Nasdaq added 3 points to 2938.

On the upside

MEMC Electronic Materials (NYSE: WFR) sold four solar projects in Europe during the second quarter.


Rumors that Best Buy (NYSE: BBY) founder Richard Schulze will acquire the company lifted shares of the electronic retailer.


ATP Oil & Gas (Nasdaq: ATPG) discovered natural gas at the Shimshon well off the coast of Israel.


On the downside


Construction spending rose more than expected in May but shares of Hovnanian Enterprises (NYSE: HOV) fell.

 

Barclay's Capital analyst Mark May downgraded OpenTable (Nasdaq: OPEN) to Equal Weight and lowered his price target on the online restaurant reservation service to $43 from $50.

  

Mad Money's Jim Cramer told viewers on Friday that he was bearish on Navistar International (NYSE: NAV).

In the broad market, advancing outpaced decliners by a margin of 4 to 3 on the NYSE while decliners edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 798.

Manufacturing activity slowed more than expected in China to weigh the markets down to a lower open with the Dow falling 61 points to 12,818. Nasdaq eased a point to 2933.

On the upside

German company Linde will acquire Lincare Holdings (Nasdaq: LNCR) in a cash deal valued at approximately $4.6 billion.


Bristol-Myers Squibb (NYSE: BMY) will pay a premium of $31 per share in cash to acquire Amylin Pharmaceuticals (Nasdaq: AMLN).


BrightPoint (Nasdaq: CELL) agreed to be acquired by Ingram Micro (NYSE: IM) for approximately $650 million in cash.


On the downside


Susquehanna lowered its price target on Groupon (Nasdaq: GRPN) from $15 to $12.

 

Mad Money's Jim Cramer rated Liquidity Services (Nasdaq: LQDT) a Sell.

  

Stifel Nicolaus downgraded Forest Oil (NYSE: FST) to a Hold rating.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 797.

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