MarketMinute.com Market Updates tag:blog.marketminute.com,2007-10-15:/financial_market_updates//2 2010-02-08T22:08:00Z Real-Time Stock Market News Movable Type 4.23-en Concerns About Europe's Debt Load Sink Stocks tag:blog.marketminute.com,2010:/financial_market_updates//2.6367 2010-02-08T21:39:58Z 2010-02-08T22:08:00Z The Dow tumbled 103 points to 9908, closing below the 10,000 mark for the first time in three months, over concerns about growing debt loads in Europe. Nasdaq dropped 15 points to 2126. The Dow tumbled 103 points to 9908, closing below the 10,000 mark for the first time in three months, over concerns about growing debt loads in Europe. Nasdaq dropped 15 points to 2126.

 

On the upside

TheStreet.com wrote that The Phoenix Co.'s (NYSE: PNX) stock price was 45% lower than the consensus among analysts.

Both Carl Reichardt of Wells Fargo Securities and Michael Rehaut of J. P. Morgan ranked MDC (NYSE: MDC) a five star stock.

China Fire & Security (Nasdaq: CFSG) secured a $92 million contract to retrofit Wuhan Iron and Steel for fire protection.

On the downside

Oracle (Nasdaq: ORCL) will purchase AmberPoint for an undisclosed sum.

Wells Fargo (NYSE: WFG) announced that it will hire 1,000 brokers this year and train 400 new recruits.

U. S. District Judge Jed Rakoff will wait for Bank of America (NYSE: BAC) and the Securities and Exchange Commission to submit written responses to questions before ruling on a proposed $150 million settlement over a civil suit alleging that Bank of America misled shareholders.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 586.

]]> Markets Mixed Over European Debt Concerns tag:blog.marketminute.com,2010:/financial_market_updates//2.6362 2010-02-08T18:13:39Z 2010-02-08T18:16:10Z Despite upbeat earnings news, the markets traded mixed during the midday with the Dow losing 22 points to 9989 over continued concerns about European debt and extended global economic malaise. Nasdaq added a point to 2143. Despite upbeat earnings news, the markets traded mixed during the midday with the Dow losing 22 points to 9989 over continued concerns about European debt and extended global economic malaise. Nasdaq added a point to 2143.

 

On the upside

Borders Group (NYSE: BGP) majority shareholders William Ackerman said that it was very unlikely for the bookstore operator to file for bankruptcy.

MBIA (NYSE: MBI) restructured its Cutwater Asset Management subsidiary.

Electronic Products selected Vishay Technology's (NYSE: VSH) Bulk Metal Foil resistor as Product of the Year.

On the downside

Novavax (Nasdaq: NVAX) and Spanish pharmaceutical ROVI ended discussions after failing to agree on the terms of their partnership.

Shares of National Bank of Greece (NYSE: NBG) continued falling over default concerns.

Williams Coal Seam Gas Royalty Trust (NYSE: WTU) announced Friday after market close that the Trust will terminate March 1, 2010.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 593.

]]> European Debt Concerns Weigh Down Markets tag:blog.marketminute.com,2010:/financial_market_updates//2.6361 2010-02-08T14:53:15Z 2010-02-08T15:39:54Z Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139. Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.

 

On the upside

CVS Caremark (NYSE: CVS) reported higher fourth quarter earnings that topped analyst estimates.

A weekend Barron's article said that if Motorola (NYSE: MOT) spun off its cellphone business, the company's stock could soar 40%.

Fourth quarter earnings for Hasbro (NYSE: HAS) climbed to beat expectations on higher sales.

On the downside

The Food and Drug Administration will select an advisory panel to review Cell Therapeutics' (Nasdaq: CTIC) lymphoma treatment pixantrone due to safety concerns.

Seanergy Maritime (Nasdaq: SHIP) terminated its agreement to acquire a 2009 Capesize vessel.

A newspaper article reported that LLoyds Banking (NYSE: LYG) is in discussions to sell its Integrated Finance unit.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 592.

]]> Mixed Jobs Data Sparks Volatile Trading Day tag:blog.marketminute.com,2010:/financial_market_updates//2.6356 2010-02-05T21:32:25Z 2010-02-05T21:48:39Z Mixed jobs data sparked a volatile day of trading sending the Dow tumbling below the 10,000 mark before recovering in the late afternoon to close with the blue chip index gaining 10 points to 10,012. Nasdaq climbed 15 points to 2141. Mixed jobs data sparked a volatile day of trading sending the Dow tumbling below the 10,000 mark before recovering in the late afternoon to close with the blue chip index gaining 10 points to 10,012. Nasdaq climbed 15 points to 2141.

 

On the upside

Hawaiian Airlines (Nasdaq: HA) reported higher traffic, occupancy and miles flown in January.

Goldcorp (NYSE: GG) completed its acquisition of Canplats Resources, which includes the significant gold and silver resources of the Camino Rojo project.

Although fourth quarter earnings tumbled for Baldor Electric (NYSE: BEZ), the electrical equipment maker forecast first quarter sales above estimates.

On the downside

NetSuite (NYSE: N) widened fourth quarter losses.

The McClatchy Company (NYSE: MNI) priced its $875 million bond offering at very high interest rates.

Although TTM Technologies (Nasdaq: TTMI) reversed year ago losses, the results fell short of expectations and the company forecast disappointing first quarter results.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 592.

]]> Greater Than Expected Job Losses Weigh Down Markets tag:blog.marketminute.com,2010:/financial_market_updates//2.6351 2010-02-05T18:02:46Z 2010-02-05T18:06:19Z Greater than expected job losses in January weighed down the markets during the midday with the Dow dropping 53 points to 9949. Nasdaq slipped 2 points to 2122. Greater than expected job losses in January weighed down the markets during the midday with the Dow dropping 53 points to 9949. Nasdaq slipped 2 points to 2122.

 

On the upside

Second quarter earnings for Bebe Stores (Nasdaq: BEBE) tumbled but the results topped analyst estimates.

US Airways (NYSE: LCC) waived change fees for passengers affected by storms in the mid-Atlantic region.

Credit Suisse analyst Satya Kumar upgraded MEMC Electronic Materials (NYSE: WFR).

On the downside

Powerwave Technologies (Nasdaq: PWAV) disappointed with lower fourth quarter revenue and earnings that fell short of expectations.

Brooks Automation (Nasdaq: BRKS) reported a first quarter loss that was wider than expected.

American Axle & Manufacturing (NYSE: AXL) reversed year ago losses to post a profit for the fourth quarter but the company forecast full year revenue below analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 587.

]]> Unemployment Rates Drops Despite Unexpected Job Losses tag:blog.marketminute.com,2010:/financial_market_updates//2.6350 2010-02-05T14:49:16Z 2010-02-05T15:26:32Z Despite an unexpected loss of 20,000 jobs in January, the unemployement rate dropped to 9.7%, the lowest level in five months. The markets opened lower with the Dow falling 49 points to 9952 while Nasdaq lost 7 points to 2117. Despite an unexpected loss of 20,000 jobs in January, the unemployement rate dropped to 9.7%, the lowest level in five months. The markets opened lower with the Dow falling 49 points to 9952 while Nasdaq lost 7 points to 2117.

 

On the upside

Air Products and Chemicals (NYSE: APD) offered approximately $5.1 billion in cash to acquire Airgas (NYSE: ARG).

Tyson Foods (NYSE: TSN) reversed year ago losses to post a greater than expected profit for the first quarter as revenue rose.

Fourth quarter earnings for Power-One (Nasdaq: PWER) more than doubled as sales climbed.

On the downside

Phase Forward (Nasdaq: PFWD) blamed impairment charges for swinging to a fourth quarter loss.

While Corning (NYSE: GLW) said that sales of liquid crystal display televisions, laptops and handheld devices are expected to be strong in 2010, the company failed to offer a full year outlook.

NIC (Nasdaq: EGOV) disappointed with lower fourth quarter earnings that fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 585.

]]> Fears Of Weak European Economy Sink Stocks tag:blog.marketminute.com,2010:/financial_market_updates//2.6345 2010-02-04T21:34:19Z 2010-02-04T22:08:10Z Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125. Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125.

 

On the upside

THQ (Nasdaq: THQI) reversed year ago losses to post a third quarter profit and forecast fourth quarter results ahead of estimates.

Kulicke & Soffa Industries (Nasdaq: KLIC) reported first quarter results that surpassed expectations by a wide margin and forecast second quarter revenue above estimates.

Third quarter earnings nearly doubled for 99 Cents Only Stores (NYSE: NDN).

On the downside

Penn National Gaming (Nasdaq: PENN) narrowed fourth quarter losses but forecast first quarter and full year results below expectations.

Caisse de Depot sold over $10 million worth of Patriot Coal (NYSE: PCX) stock.

Standard Pacific (NYSE: SPF) posted profit for the fourth quarter but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by a margin of nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 589.

]]> Concerns About Europe's Fiscal Health Sink Markets tag:blog.marketminute.com,2010:/financial_market_updates//2.6337 2010-02-04T18:12:45Z 2010-02-04T18:24:44Z Concerns about European fiscal health sank the markets during the midday with the Dow skidding 215 points to 10,055. Nasdaq plunged 52 points to 2138. Concerns about European fiscal health sank the markets during the midday with the Dow skidding 215 points to 10,055. Nasdaq plunged 52 points to 2138.

 

On the upside

Second quarter earnings leaped for Open Text (Nasdaq: OTEX) to beat expectations as revenue grew and the company cut costs.

Joe's Jeans (Nasdaq: JOEZ) reported sharply higher fourth quarter earnings that topped estimates as sales surged.

Unisys (NYSE: UIS) reversed year ago losses to post a better than expected profit for the fourth quarter. The company announced the sale of its check and cash automation unit. Also, the company won a three year contract valued at approximately $32 million.

On the downside

While fourth quarter earnings edged up for Double-Take Software (Nasdaq: DBTK), revenue dropped to fall short of estimates and the company forecast disappointing first quarter as well as full year results.

SummerStreet Research Partners analyst Carol Werther downgraded AMAG Pharmaceuticals (Nasdaq: AMAG) citing possible severe allergic reactions in kidney disease patients to the company's iron replacement drug Feraheme.

While United Rentals (NYSE: URI) narrowed fourth quarter losses, the results missed estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by a margin of nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 594.

]]> Jobless Claims Rise, Markets Open Lower tag:blog.marketminute.com,2010:/financial_market_updates//2.6336 2010-02-04T14:49:41Z 2010-02-04T15:11:24Z Initial applications for unemployment benefits unexpectedly climbed last week to weigh down the markets to a lower open with the Dow plunging 145 points to 10,124. Nasdaq plummeted 33 points to 2157. Initial applications for unemployment benefits unexpectedly climbed last week to weigh down the markets to a lower open with the Dow plunging 145 points to 10,124. Nasdaq plummeted 33 points to 2157.

 

On the upside

Roth Capital initiated coverage of Cyclacel Pharmaceuticals (Nasdaq: CYCC) with a Buy rating.

Affymetrix (Nasdaq: AFFX) reversed year ago losses to post an unexpected profit for the fourth quarter as revenue rose.

January same store sales rose a greater than expected 5% for Gap (NYSE: GPS).

On the downside

Monster Worldwide (NYSE: MWW) blamed the dismal job market for swinging to a loss for the fourth quarter. The job search site also announced a $225 million all cash purchase of Yahoo's HotJobs.

MEMC Electronic Materials (NYSE: WFR) swung to a fourth quarter loss.

Although fourth quarter earnngs for Spirit AeroSystems (NYSE: SPR) more than doubled, the results fell far short of estimates.

In the broad market, declining issues edged out advancers by a margin of nearly 6 to 1 on the NYSE and by a margin of nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 602.

]]> Markets Close Lower Over Disappointing Service Sector Growth tag:blog.marketminute.com,2010:/financial_market_updates//2.6331 2010-02-03T21:35:01Z 2010-02-03T22:14:59Z While job losses were less than expected last month, expansion in the services sector disappointed. The markets closed lower with the Dow losing 26 points to 10,270. Nasdaq added a fraction to 2190. While job losses were less than expected last month, expansion in the services sector disappointed. The markets closed lower with the Dow losing 26 points to 10,270. Nasdaq added a fraction to 2190.

 

On the upside

NetLogic Microsystems (Nasdaq: NETL) posted better than expected fourth quarter results and forecast first quarter earnings ahead of expectations prompting upgrades.

ZAGG (Nasdaq: ZAGG) has begun accepting invisibleSHIELD pre-orders for the Apple iPad.

Shares of Somaxon Pharmaceuticals (NYSE: SOMX) surged in anticipation of early regulatory approval for the company's insomnnia medication.

On the downside

Analysts cited Alliance Data Systems' (NYSE: ADS) disappointing outlook for cutting their price targets for the credit card processor.

Toyota Motor (NYSE: TM) will send all dealerships in the United States $75,000 to assist with the recall and repair of 2.3 million vehicles.

Polo Ralph Lauren (NYSE: RL) reported higher third quarter earnings that topped estimates but revenue fell and the company warned expenses related to expansion of its Asian operations will hurt fourth quarter results.

In the broad market, declining issues edged out advancers by a margin of more than 5 to 3 on the NYSE and by a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 610.

]]> Service Sector Expands Less Than Expected tag:blog.marketminute.com,2010:/financial_market_updates//2.6326 2010-02-03T18:30:47Z 2010-02-03T18:39:13Z Service activity edged up less than expected in January to dampen investor enthusiasm. The markets traded flat during the midday with the Dow slipping 3 points to 10,293 while Nasdaq added a point to 2191. Service activity edged up less than expected in January to dampen investor enthusiasm. The markets traded flat during the midday with the Dow slipping 3 points to 10,293 while Nasdaq added a point to 2191.

 

On the upside

The Food and Drug Administration approved Auxilium Pharmaceuticals' (Nasdaq: AUXL) Xiaflex for treating Dupuytren's contracture, a progressive condition that constricts the fingers.

Brean Murray upgraded Lexmark (NYSE: LXK) after the printing and imaging solutions company reported better than expected earnings yesterday.

Mueller Water Products (NYSE: MWA) narrowed first quarter losses.

On the downside

PSS World Medical (Nasdaq: PSSI) announced the immediate departure of president and chief executive David Smith with chief operating officer Gary Corless stepping in to Smith's roles.

Howard Weil downgraded ATP Oil & Gas (Nasdaq: ATPG).

While fourth quarter earnings rose for Quest Software (NYSE: QSFT), revenue slipped.

In the broad market, declining issues edged out advancers by a margin of more than 5 to 3 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 609.

]]> Markets Open Flat As Services Sector Posts Modest Gain tag:blog.marketminute.com,2010:/financial_market_updates//2.6325 2010-02-03T14:51:52Z 2010-02-03T15:15:37Z The markets opened flat with the Dow slipping 3 points to 10,293 while Nasdaq added a fraction to 2190. The nation's services sector posted a modest gain in January. The markets opened flat with the Dow slipping 3 points to 10,293 while Nasdaq added a fraction to 2190. The nation's services sector posted a modest gain in January.

 

On the upside

Home Diagnostics (Nasdaq: HDIX) will be acquired by Japanese medical device maker Nipro for approximately $215 million.

The Food and Drug Administration approved Labopharm's (Nasdaq: DDSS) once-a-day antidepressant Oleptro Extended Release Tablets.

Fourth quarter earnings for Acme Packet (Nasdaq: APKT) more than doubled due to its acquisition of Covergence last year.

On the downside

Exide Technologies (Nasdaq: XIDE) reported lower third quarter earnings as sales fell.

VeriSign (Nasdaq: VRSN) reported lower fourth quarter income that fell short of estimates.

Fourth quarter earnings for Western Union (NYSE: WU) slipped.

In the broad market, declining issues edged out advancers by a margin of more than 10 to 9 on the NYSE while advancers outpaced decliners by a margin of nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 615.

]]> Markets Soar As Pending Home Sales Rise tag:blog.marketminute.com,2010:/financial_market_updates//2.6320 2010-02-02T21:42:52Z 2010-02-02T21:51:14Z The markets soared to close higher with the Dow surging 111 points to 10,296 as a gain in pending home sales signalled a possible recovery to the devastated housing market. Nasdaq climbed 18 points to 2190. The markets soared to close higher with the Dow surging 111 points to 10,296 as a gain in pending home sales signalled a possible recovery to the devastated housing market. Nasdaq climbed 18 points to 2190.

 

On the upside

Ivanhoe Energy's (Nasdaq: IVAN) first appraisal well in Ecuador reached total depth with physical testing beginning this week.

Focus Holding Media (Nasdaq: FMCN) will repurchase up to $200 million worth of American depositary shares.

Third quarter earnings for Steris (NYSE: STE) surged as revenue rose to surpass expectations and the medical products maker cut expenses.

On the downside

Silicon Motion Technology (Nasdaq: SIMO) blamed sharply lower revenue for widening fourth quarter losses.

DST Systems (NYSE: DST) reported lower fourth quarter earnings that fell short of estimates and announced the elimination of approximately 760 positions.

Cedar Shopping Centers (NYSE: CDR) will offer 7.5 million common shares in order to raise approximately $47 million through a public offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 614.

]]> Rise In Pending Home Sales Lifts Markets tag:blog.marketminute.com,2010:/financial_market_updates//2.6315 2010-02-02T17:40:32Z 2010-02-02T17:38:37Z Pending home sales rose in December to lift investor sentiment along with the markets during the midday with the Dow climbing 86 points to 10,272. Nasdaq gained 13 points to 2184. Pending home sales rose in December to lift investor sentiment along with the markets during the midday with the Dow climbing 86 points to 10,272. Nasdaq gained 13 points to 2184.

 

On the upside

An article in the Journal of the National Cancer Institute reviewed the role of hypothermia in cancer treatments saying that adding hypothermia to chemotherapy improved survival rates. BSD Medical's (Nasdaq: BSDM) BSD 2000 Deep Regional Hyperthermia System was used by all institutions participating in the study.

Ann Taylor (NYSE: ANN) announced that fourth quarter earnings will top estimates and far outpace last year's results.

D. R. Horton (NYSE: DHI) reported its first quarterly profit in nearly three years.

On the downside

American Superconductor (Nasdaq: AMSC) reversed year ago losses to post a third quarter profit as revenue surged. The stock price dropped as investors, who had anticipated the wind turbine company to beat expectations, locked in profits.

MannKind (Nasdaq: MNKD) narrowed fourth quarter losses but still fell short of estimates.

Patriot Coal (NYSE: PCX) blamed a significant charges for fourth quarter earnings that plunged.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 613.

]]> Mixed Open Ahead Of Pending Home Sales Report tag:blog.marketminute.com,2010:/financial_market_updates//2.6314 2010-02-02T14:46:55Z 2010-02-02T15:26:50Z The markets opened mixed with the Dow adding 6 points to 10,192 while Nasdaq slipped 4 points to 2167. Investors embraced upbeat corporate earnings and await the December pending home sales report. The markets opened mixed with the Dow adding 6 points to 10,192 while Nasdaq slipped 4 points to 2167. Investors embraced upbeat corporate earnings and await the December pending home sales report.

 

On the upside

Comsys IT Partners (Nasdaq: CITP) will be acquired by Manpower (NYSE: MAN) in a deal valued at approximately $431 million.

Compugen (Nasdaq: CGEN) discovered a treatment for autoimmune disorders, CGEN-15001.

Fourth quarter earnings more than tripled for Lexmark International (NYSE: LXK) to beat expectations by a wide margin as the printing and imaging solutions company cut costs.

On the downside

Dow Chemical (NYSE: DOW) swung to a better than expected profit but investors were disappointed with weak sales in the United States and Europe.

While Suncor (NYSE: SU) reversed year ago losses to post a fourth quarter profit, the results fell far short of expectations.

First BanCorp (NYSE: FBP) swung to a fourth quarter loss as loan loss provisions surged.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 609.

]]>