January 2008 Archives
Although Cameron International Corp. (NYSE: CAM) posted higher fourth quarter results of 54 cents per share compared with 42 cents per share in the year ago period that beat expectations, the oil services company disappointed with first quarter guidance as well as full year outlook that fell short of estimates. The stock price dropped $2.96 to close at $40.10.
Second quarter earnings for Accuray Inc. (Nasdaq: ARAY) rose to 4 cents per share compared with losses of 45 cents per share last year but the results fell short of expectations due to disappointing sales. The maker of the CyberKnife surgery system to cut its fiscal 2008 revenue guidance sending the stock price plummeting $5.46 to close at $9.52.
Analysts upgraded Alliance Data Systems Corp. (NYSE: ADS) after the company reported fourth quarter earnings in line with expectations. Shares of the business services company leaped $7.87 to close at $50.57.
Shares of Cadence Design Systems Inc. (Nasdaq: CDNS) plummeted $5.01 to close at $10.15 after the semiconductor manufacturing equipment maker set lower first quarter guidance.
Credit card processor MasterCard Inc. (NYSE: MA) posted sharply higher fourth quarter earnings of $2.26 per share compared with 30 cents per share in the year ago period citing strength in overseas spending. The stock price leaped $18.00 to close at $207.00.
Shares of Mattel Inc. (NYSE: MAT) rose $2.07 to close at $21.01 after the maker of Barbie, Hot Wheels and Fisher-Price toys announced higher earnings of 89 cents per share compared with 75 cents per share last year boosted by tax gains that helped to offset product recall-related charges.
Municipal Mortgage & Equity LLC (NYSE: MMA) will not be able to file its financial restatements by the March 2 deadline set by the NYSE and expects to be delisted. The stock price plunged $2.06 to close at $7.13.
The Centers for Medicare & Medicaid Services announced that Phase I of an experimental wellness program will end as scheduled at the end of the year but failed to indicate whether the program will be expanded sending shares of wellness program provider Healthways Inc. (Nasdaq: HWAY) plummeting $10.52 to close at $55.85.
Foundry Networks Inc. (Nasdaq: FDRY) posted higher profits of 18 cents per share compared with 10 cents per share in the year ago period that beat forecast, but the lack of guidance weighed down the stock. Shares of the networking equipment maker slipped $1.19 to close at $13.73.
Shares of Baker Hughes Inc. (NYSE: BHI) plunged $6.17 to close at $67.27 after the oil services company reported a higher fourth quarter profit of $1.26 per share compared with $1.02 per share a year earlier, but missed expectations.
Yahoo (Nasdaq: YHOO) posted lower profits of 15 cents per share compared with 19 cents per share last year and announced up to 1,000 job cuts in order to slash expenses at the beleaguered Internet media company. Analysts downgraded the company sending the stock price tumbling $1.76 to close at $19.05.
Shares of Silicon Laboratories Inc. (Nasdaq: SLAB) surged $3.38 to close at $31.85 after the chipmaker posted higher revenues and earnings of 38 cents per share compared with 9 cents per share in the year ago period that met expectations.
Excel Maritime Carriers Ltd. (NYSE: EXM) offered $2.45 billion in cash and stock to buy Quintana Maritime Ltd. (Nasdaq: QMAR) and form a combined fleet of 55 vessels. Shares of Excel Maritime dropped $1.22 to close at $31.78 while Quintana stock leaped $5.13 to close at $22.02.
Shares of Albemarle Corp. (NYSE: ALB) plunged $3.73 to close at $35.36 after the chemical company posted lower profits of 60 cents per share compared with 65 cents per share in the year ago period which prompted an immediate analyst downgrade.
VMware Corp. (NYSE: VMW) disappointed with fourth quarter revenue that fell short of estimates and forecast 2008 revenue growth below expectations. Shares of the virtualization software provider plummeted $28.13 to close at $54.87.
LECG Corp. (Nasdaq: XPRT) blamed a restructuring charge for cutting its fourth quarter guidance. Shares of the legal and financial services provider plummeted $4.18 to close at $8.13.
Lockheed Martin ordered high electro-optic activity materials from Lumera Corp. (Nasdaq: LMRA) and will seek a commercial license for the polymer materials. The stock price leaped 88 cents to close at $3.17.
The Wall Street Journal reported that Sprint Nextel Corp. (NYSE: S) and Clearwire Corp. (Nasdaq: CLWR) renewed discussions to build a high-speed wireless network. Shares of Sprint edged up 83 cents to close at $10.80 while Clearwire stock surged $2.89 to close at $15.34.
Standard & Poor's said that Clear Channel Communications (NYSE: CCU) ratings remains on CreditWatch with negative implications sending the stock price tumbling $2.38 to close at $31.42.
The $6.4 billion purchase of Alliance Data Systems Corp. (NYSE: ADS) by the Blackstone Group (NYSE: BX) may be in jeopardy due to Blackstone's inability to meet certain conditions set by the Office of the Comptroller of the Currency. Shares of Alliance Data plummeted $23.12 to close at $42.48 while Blackstone stock eased 21 cents to close at $19.15.
Israel-based wireless equipment maker Ceragon Networks Ltd. (Nasdaq: CRNT) swung to a profit of 12 cents per share compared with losses of 30 cents per share in the year ago period, but investors used the news to take profits. The stock price tumbled $1.75 to close at $8.58.
YRC Worldwide Inc. (Nasdaq: YRCW) posted a large fourth quarter loss of $12.99 per share compared with earnings of 80 cents per shares last year after the trucking company took a one-time restructuring charge. The stock price dropped $2.78 to close at $16.08.
Shares of McDonald's (NYSE: MCD) tumbled $3.03 to close at $51.07 despite reporting higher fourth quarter earnings of $1.06 per share compared with $1.00 per share in the year ago period as domestic sales weakened.
Shares of Acorda Therapeutics Inc. (Nasdaq: ACOR) leaped $5.50 to close at $27.28 following a report that its drug treatment for multiple sclerosis generated test results that did not increase abnormal heart rhythms.
Shares of IPC The Hospitalist Co. (Nasdaq: IPCM) surged $4.48 to close at $20.48 in its market debut.
Tempur-Pedic International Inc. (NYSE: TPX) blamed slowing consumer spending for fourth quarter results of 52 cents per share compared with 36 cents per share last year, falling a penny short of expectations. Shares of the mattress maker plunged $5.94 to close at $18.97.
Although Synaptics Inc. (Nasdaq: SYNA) posted higher second quarter profits of 50 cents per share compared with 32 cents per share in the year ago period that surpassed expectations, the company issued third quarter guidance that fell short of estimates. Shares of the computer components manufacturer plunged $7.36 to close at $24.07.
SunOpta Inc. (Nasdaq: STKL) slashed its fiscal 2007 guidance and warned that the organic food producer may restate financials prompting a downgrade. The stock price plummeted $3.51 to close at $6.05.
Analysts downgraded Integrated Devices Technology Inc. (Nasdaq: IDTI) due to softness in the semiconductor sector sending the stock price tumbling $1.40 to close at $7.61.
Shares of diversified manufacturer Honeywell International Inc. (NYSE: HON) rose $2.05 to close at $58.25 after reporting fourth quarter earnings that climbed to 91 cents per share from 72 cents per share in the year ago period.
Sovereign Bancorp Inc. (NYSE: SOV) widened fourth quarter losses to $3.34 per share compared with losses of 28 cents per share last year as the company wrote down $1.58 billion. The stock price tumbled $1.04 to close at $10.09.
Despite revenue that more than tripled, fourth quarter earnings for SunPower Corp. (Nasdaq: SPWR) plunged to 6 cents per share from 15 cents per share a year earlier as expenses soared. The solar products maker also forecast first quarter result below estimates sending the stock price plummeting $5.04 to close at $69.21.
THQ Inc. (Nasdaq: THQI) blamed underperforming titles and product development charges for slashing its third quarter outlook. Shares of the video game publisher plummeted $5.60 to close at $19.50.
Although F5 Networks Inc. (Nasdaq: FFIV) reported lower first quarter earnings of 21 cents per share compared with 26 cents per share in the year ago period, the results beat expectations and the software company forecast second quarter results above estimates. Analysts upgraded the company sending the stock price soaring $4.62 to close at $24.80.
Fourth quarter earnings for Capital One Financial Corp. (NYSE: COF) tumbled to 60 cents per share from $1.14 per share last year due to credit card loan losses but the results surpassed expectations. The stock price surged $3.55 to close at $47.75.
The Food and Drug Administration approved MiddleBrook Pharmaceuticals Inc.'s (Nasdaq: MBRK) once a day strep throat treatment Moxatag Tablets. The stock price more than doubled by leaping $1.74 to close at $2.99.
Patients in a late stage trial of Human Genome Sciences Inc.'s (Nadsaq: HGSI) hepatitis C treatment Albuferon experienced serious lung related side effects prompting the biopharmaceutical to lower the dosage of the treatment. Shares of the biopharmaceutical plummeted $4.40 to close at $5.62.
Ambac Financial Group Inc. (NYSE: ABK) and MBIA Inc. (NYSE: MBI) met with insurance regulators to discuss options for the struggling bond insurers. Shares of Ambac leaped $5.73 to close at $13.70 while MBIA stock jumped $4.08 to close at $16.61.
An analyst lowered his opinion of Ciena Corp. (Nasdaq: CIEN) questioning the merits of the company's $290 million acquisition of World Wide Packets, a provider of carrier ethernet services. The stock price plummeted $3.34 to close at $22.83.
Motorola Inc. (NYSE: MOT) posted sharply lower fourth quarter profits of 4 cents per share compared with 25 cents per share in the year ago period due to a weakness in its handset unit. The stock price plunged $2.31 to close at $10.01.
Apple Inc. (Nadsaq: AAPL) offered guidance for the second quarter late yesterday that confirmed worries about consumer spending. The stock price plummeted $16.57 to close at $139.07.
Shares of semiconductor maker Cree Inc. (Nasdaq: CREE) climbed $2.90 to close at $28.55 after the company boosted its profit and revenue outlook due to strong LED sales.
Although Waters Corp. (NYSE: WAT) reported higher fourth quarter earnings of 96 cents per share compared with 78 cents per share a year earlier, the results fell short of expectations and the company forecast 2008 results below estimates. Shares of the analytical instruments maker plummeted $14.65 to close at $58.58.
MBIA Inc. (NYSE: MBI) stood to benefit from this morning's interest rate cut to help lower expenses. The loan insurer had also raised $1 billion in capital to shore up its balance sheet last week. The stock price leaped $3.98 to close at $12.53.
Corinthian Colleges Inc. (Nasdaq: COCO) trimmed its outlook after three student loan providers announced more stringent lending policies. Shares of the for-profit education company plunged $3.34 to close at $7.55.
Northstar Neuroscience Inc. (Nasdaq: NSTR) announced disappointing results from a late stage clinical trial of its stroke treatment Everest sending shares of the medical device company plummeting $6.99 to close at $1.37.
Although KeyCorp (NYSE: KEY) reported sharply lower fourth quarter earnings of 6 cents per share compared with 36 cents per share in the year ago period, the results impressed analysts who were anticipating losses of 3 cents per share. The stock price leaped $2.65 to close at $23.75.
Bernstein Research analysts Colin MacGranahan and Uta Werner upgraded Williams-Sonoma Inc. (NYSE: WSM) saying that the stock price has a very limited downside after recent declines. Shares of the home products specialty retailer soared $2.48 to close at $23.74.
The FDA approved ZymoGenetics Inc.'s (Nasdaq: ZGEN) blood clotting drug Recothrom but an analyst downgraded the stock over concerns pricing pressures will hurt product sales. The stock price tumbled $2.16 to close at $10.89.
Advanced Micro Devices (NYSE: AMD) reported a smaller than expected fourth quarter loss of $3.06 per share compared with losses of $1.08 per shares last year as the company reduced costs. Shares of the microprocessor maker climbed 73 cents to close at $7.07.
An affiliate of Blackstone Group and Wellspring Capital Management will pay $1.3 billion to purchase Performance Food Group Co. (Nasdaq: PFGC). Shares of the food distributor leaped $7.64 to close at $31.83.
Schlumberger Ltd. (NYSE: SLB) posted higher profits of $1.12 per share compared with 92 cents per share in the year ago period, but a cautious outlook for 2008 sent shares of the oilfield services firm tumbling $2.99 to close at $79.52.
Wireless phone company Sprint Nextel Corp. (NYSE: S) announced job cuts and store closings aimed at cutting expenses. Shares plummeted $2.87 to close at a new 52-week low of $8.70.
General Electric Co. (NYSE: GE) posted higher revenues and earnings of 66 cents per share compared with 62 cents per share a year earlier due to strong global demand for its products while reaffirming its outlook for 2008. The stock price rose $1.10 to close at $34.31.
Shares of mortgage insurer MGIC Investment Corp. (NYSE: MTG) plunged $2.28 to close at $13.49 as new home construction plunged more than 24%, the greatest decline since 1980.
First Horizon National Corp. (NYSE: FHN) blamed losses in its mortgage banking business as well as greater loan loss provisions for swinging to a fourth quarter loss of $1.97 per share compared with earnings of 60 cents per share in the year ago period. Shares of the regional bank tumbled $2.43 to close at $16.48.
WCI Communities Inc. (NYSE: WCI) renegotiated the terms of its loan allowing the condominium builder more time and flexibility to repay debt. The stock price edged up 56 cents to close at $3.00.
Credit protection costs surged for MBIA Inc. (NYSE: MBI) as the bond insurer continued to struggle with its portfolio. The stock price plummeted $4.18 to close at $9.22.
Shares of Merrill Lynch & Co. Inc. (NYSE: MER) slipped after the world's largest brokerage announced a $14.1 billion write-down to cover mortgage-related losses in the fourth quarter. The stock price plunged $5.64 to close at $49.45.
Callaway Golf Co. (NYSE: ELY) raised its guidance despite a flat golf market in the United States. Analysts promptly upgraded the stock lifting the price $1.64 to close at $15.59.
Ambac Financial Group Inc. (NYSE: ABK) announced the immediate retirement of chief executive Robert Genader who will be replaced by Michael Callen. The bond insurer will also take $5.4 billion write-down in the fourth quarter and drastically cut its dividend to 7 cents from 21 cents. The stock price plunged $8.17 to close at $12.97.
Scientific Games Corp. (Nasdaq: SGMS) lost its contract to provide terminal based lottery services to the Pennsylvania State Lottery sending the stock price plummeting $8.70 to close at $19.45.
California Pizza Kitchen Inc. (Nasdaq: CPKI) lowered its fourth quarter and full-year guidance due to slowing same-store sales as consumers cut back on discretionary spending. The stock price tumbled $2.17 to close at $10.10.
Shares of Apple Inc. (Nasdaq: AAPL) plunged $9.40 to close at $159.64. Analysts and investors were mostly lukewarm with the line-up of new products announced at the company's trade show yesterday.
Shares of Intel Corp. (Nasdaq: INTC) tumbled $2.81 to close at $19.88 on heavy volume after the chip maker reported disappointing fourth quarter results of 38 cents per share compared with 26 cents per share in the year ago period, two cents short of expectations, and warned of continued softness through 2008.
BEA Systems Inc. (Nasdaq: BEAS) received a $7.85 billion offer from Oracle Corp. (Nasdaq: ORCL) ending a 3-month tussle to buy the middleware software provider. Shares of BEA soared $2.88 to close at $18.46 while Oracle stock edged up 61 cents to close at $21.92.
Hibbett Sports Inc. (Nasdaq: HIBB) blamed a weak economy for lowering its fourth quarter guidance sending the stock price plunging $2.58 to close at $13.38.
The Wall Street Journal reported that Delta Air Lines Inc. (NYSE: DAL) initiated merger discussions with Northwest Airlines Corp. (NYSE: NWA) and UAL Corp. (NYSE: UAUA). Shares of Delta rose 68 cents to close at $15.98 while Northwest stock climbed $1.37 to close at $17.38. UAL stock gained $1.64 to close at $34.57.
Net unrealized losses for MoneyGram International Inc. (NYSE: MGI) soared as the value of its asset backed securities tumbled. The stock price plummeted $6.02 to close at $6.15.
Coldwater Creek Inc. (Nasdaq: CWTR) blamed lower same store sales for cutting its fourth quarter guidance prompting a downgrade. Shares of the women's apparel retailer plunged $1.29 to close at $3.86.
Citigroup Inc. (NYSE: C) recorded its biggest loss ever writing down $18.1 billion from its portfolio and setting aside another $4.1 billion in reserves for potential future losses. The nation's largest bank also cut its dividend and sought financing from overseas investment funds sending the stock price down $2.12 to close at $26.94.
Lifecore Biomedical Inc. (Nasdaq: LCBM) received a $229.5 million buyout offer from affiliates of private equity firm Warburg Pincus. Shares of the medical materials and device maker leaped $3.92 to close at $16.76.
Schering-Plough Corp. (NYSE: SGP) reported disappointing results for its cholesterol drug Vytorin sending the stock price tumbling $2.21 to close at $25.52.
Analysts downgraded Harman International Industries Inc. (Nasdaq: HAR) after the electronics maker slashed its 2008 guidance due to pricing competition in the portable navigation device sector. The stock price plummeted $25.97 to close at $43.00.
Private equity firm Bain Capital Partners LLC will acquire Bright Horizons Family Solutions Inc. (Nasdaq: BFAM) for approximately $1.3 billion. Shares of the workplace childcare and early education center operator jumped $12.07 to close at $44.86.
Terex Corp. (NYSE: TEX) will pay approximately $488 million to acquire construction equipment maker A. S. V. Inc. (Nasdaq: ASVI). Shares of Terex soared $3.81 to close at $56.74 while A. S. V. stock leaped $5.50 to close at $17.79.
Shares of WellCare Health Plans Inc. (NYSE: WCG) leaped $9.44 to close at $56.43 due to new contract approvals, higher enrollment and analysts' upgrade.
International Business Machines Corp. (NYSE: IBM), a Dow component, issued early profit estimates that were 24% above year-ago levels to beat analysts' forecasts. The stock price soared $5.26 to close at $102.93.
American Express Co. (NYSE: AXP) warned that fourth quarter results will fall far short of expectations as spending slowed while delinquent payments rose. The stock price plunged $4.92 to close at $44.00.
Analysts downgraded Juniper Networks Inc. (Nasdaq: JNPR) after its COO departed to work for Microsoft Corp.(Nasdaq: MSFT). Shares of Juniper Networks tumbled $4.07 to close at $26.60 while Microsoft stock eased 42 cents to close at $33.91.
RF Micro Devices Inc. (Nasdaq: RFMD) blamed weaker than expected demand for lowering its third quarter outlook. Shares of the radio frequency components maker tumbled $1.29 to close at $3.73.
Opnext Inc. (Nasdaq: OPXT) warned that third quarter sales will fall short of expectations as demand declined. The stock price plunged $2.54 to close at $4.42.
Cadence Pharmaceuticals Inc. (Nasdaq: CADX) reported that its intravenous pain treatment Acetavance failed a late stage clinical trial sending shares of the biopharmaceutical plummeting $8.63 to close at $5.36.
Blackstone Group LP (NYSE: BX) may pay up to $930 million to purchase GSO Capital Partners LP. The stock price rose 22 cents to close at $20.06.
Concerns about rising home loan delinquency rates weighed down shares of mortgage insurer PMI Group Inc.(NYSE: PMI) $1.80 to close at $8.48.
Standard & Poor's affirmed the junk status of WCI Communities Inc. (NYSE: WCI) citing acute liquidity challenges for the homebuilder. The stock price plummeted $1.69 to close at $1.50.
El DuPont de Nemours & Co. (Nasdaq: DD) lifted its outlook for both 2007 as well as 2008 due to strong growth prospects for emerging markets. Shares of the chemical company soared $2.03 to close at $44.78.
Higher enrollment lifted first quarter earnings for Apollo Group Inc. (Nasdaq: APOL) to 83 cents per share from 65 cents per share in the year ago period. Shares of the education company leaped $11.05 to close at $79.16.
Shares of Garmin Ltd. (Nasdaq: GRMN) plummeted $4.21 to close at $75.99 following an analyst downgrade citing price competition for the navigation device maker.
Shares of Shutterfly (Nasdaq: SFLY) rebounded by edging up 13 cents to close at $21.70 after an analyst upgraded the online photo company citing continued customer growth versus its low valuation.
While Supervalu Inc. (NYSE: SVU) reported higher third quarter earnings of 66 cents per share compared with 54 cents per share a year earlier, sales dropped prompting the grocery chain to lower its full year outlook. Credit Suisse downgraded the company sending the stock price plummeting $5.68 to close at $28.61.
Shares of mortgage bond insurer AMBAC Financial Group Inc. (NYSE: ABK) plunged $3.92 to close at $19.56 as pending home sales dropped.
A New York Times article reported that Countrywide Financial Corp. (NYSE: CFC) fabricated documents in at least 300 bankruptcy cases prompting Lehman Bros. analyst Bruce Harting to lower his earnings expectations for the mortgage lender. The stock price tumbled $2.17 to close at $5.47.
King Pharmaceuticals Inc. (NYSE: KG) ended its patent infringement suit against CorePharma LLC and agreed to grant CorePharma certain rights to develop a generic version of King's muscle relaxant treatment Skelaxin. The stock price climbed $1.70 to close at $12.08.
Leap Wireless International Inc. (Nasdaq: LEAP) reduced the number of customers discontinuing their service by a full percentage point and added a greater than expected number of new clients in the fourth quarter. Shares of the digital wireless services provider jumped $2.32 to close at $40.16.
Isis Pharmaceuticals Inc. (Nasdaq: ISIS) entered a partnership with Genzyme Corp. (Nasdaq: GENZ) to jointly develop the cholesterol drug mipomersen. Shares of Isis leaped $4.00 to close at $18.58 while Genzyme stock edged up 31 cents to close at $77.41.
Pharmasset Inc. (Nasdaq: VRUS) reported impressive results from an early stage trial of its hepatitis C treatment R7128. Shares of the pharmaceutical leaped $6.25 to close at $20.24.
Jefferies Group Inc. (NYSE: JEF) warned of significant losses for the fourth quarter sending shares of the investment bank tumbling $1.12 to close at $18.67.
Avocent Corp. (Nasdaq: AVCT) forecast fourth quarter revenue below expectations saying that sales in North America dropped. Shares of the network integration company plunged $4.50 to close at $15.71.
ShoreTel Inc. (Nasdaq: SHOR) blamed lower sales for warning that second quarter results will fall short of expectations sending the stock price plummeting $7.06 to close at $6.02.
The CEO of Krispy Kreme Doughnuts Inc. (NYSE: KKD) announced plans to step down by the end of January. Separately, the company said all of its products would have zero grams of trans fat. The stock price rose 32 cents to close at $3.15.
Sallie Mae (NYSE: SLM) named Anthony P. Terracciano to the position of chairman and appointed John F. Remondi as vice chairman and CFO. Shares of the nation's largest student lender soared $1.16 to close at $17.83.
Landec Corp. (Nasdaq: LNDC) posted earnings that met expectations, but revenues were slightly below targets. Shares of the maker of polymers for food packaging dropped $1.37 to $11.25.
A decline in chip orders from computer manufacturers weighed down the semiconductor sector with shares of bellwether Intel Corp. (Nasdaq: INTC) falling $1.67 to $23.00.
Bed Bath & Beyond Inc. (NYSE: BBBY) posted earnings that met expecations, but lowered its outlook for the fourth quarter sending the stock price tumbling $1.87 to $25.53.
Shares of Osiris Therapeutics (Nasdaq: OSIR) climbed $2.07 to $14.64 after the company landed a $224 million to stockpile stem cell treatments for radiation exposure.
AZZ Inc. (NYSE: AZZ) which makes power generators and equipment for the utility industry posted higher profits and raised its full-year outlook. The stock price soared $3.16 to $32.01.
Shares of Sonic Corp. (Nasdaq: SONC) rose $1.14 to $21.12 after the burger chain reported lower profits that beat expectations.
To clamp down on fraud, the IRS may limit tax preparers such as Jackson Hewitt Tax Service Inc. (NYSE: JTX) from offering refund anticipation loans sending the stock price plummeting $7.25 to close at $24.13.
Hoku Scientific Inc. (Nasdaq: HOKU) hired Idaho Power to build a polysilicon plant in Pocatello, Idaho. The stock price climbed $1.71 to close at $14.19.
Bakery and cafe chain Panera Bread Co. (Nasdaq: PNRA) posted higher revenues, but unfavorable weather conditions hurt same-store sales results. The stock price dropped $3.26 to close at $31.52.
Shares of CVS Caremark Corp. (NYSE: CVS) tumbled $2.58 to close at $36.77after the drugstore chain operator updated its outlook toward the low end of analysts' expectations.
Seed company Monsanto Co. (NYSE: MON) posted earnings that nearly tripled to 46 cents per share from 16 cents per share in the year ago period citing strong Latin American results. The stock price leaped $9.45 to close at $120.92.
Sciele Pharma Inc. (Nasdaq: SCRX) received FDA approval to sell a new version of its high blood pressure drug treatment sending the stock price soaring $2.26 to close at $22.10.
Deutsche Bank analyst Paul Ginocchio downgraded Harte-Hanks Inc. (NYSE: HHS) due to its struggling shopper unit. Shares of the direct marketing and shopper advertising services firm tumbled $1.69 to close at $15.61.
J. P. Morgan analyst Charles Grom downgraded BJ's Wholesale Club Inc. (NYSE: BJ) saying that sales are expected to weaken in 2008. Shares of the warehouse club operator plummeted $4.05 to close at $29.78.
VeriFone Holdings Inc. (NYSE: PAY) is unable to complete its annual report by the extended deadline of January 14 because the company is uncertain when its financial restatements of the first three quarters of the fiscal year will be finished. The stock price plunged $3.44 to close at $19.81.
Motley Fool named Yamana Gold Inc. (NYSE: AUY) the best stock for 2008 after a change in management sending the stock price up 93 cents to close at $13.87.
Johnson & Johnson (NYSE: JNJ) will pay Millennium Pharmaceuticals Inc. (Nasdaq: MLNM) $40 million for reaching an overseas sales goal for the blood cancer treatment Velcade. Shares of Millennium rose $1.21 to close at $16.19 while Johnson & Johnson stock eased 79 cents to close at $65.91.
Akeena Solar Inc. (Nasdaq: AKNS) engaged Suntech Power Holdings Co. Ltd. (NYSE: STP) to distribute Akeena's Andalay product line in Europe, Japan and Australia. Shares of Akeena leaped $3.49 to close at $11.45 while Suntech stock surged $3.64 to close at $85.96.