January 2009 Archives

Weak First Quarter Bookings For Delta

January 30, 2009 2:22 PM |
Delta Air Lines Inc. (NYSE: DAL) blamed the economic downturn for weak first quarter ticket sales.  Shares of the airliner dropped $1.12 to close at $6.90.

Fifth Third Bancorp Downgraded

January 30, 2009 2:22 PM |
Bernstein & Co. analyst Kevin St. Pierre downgraded Fifth Third Bancorp (NYSE: FITB) and lowered his price target on the regional bank saying that it will need a such a large infusion of capital that investors will be significantly diluted.  The stock price plunged 66 cents to close at $2.39.

Gannett Reports Lower Preliminary Earnings

January 30, 2009 2:16 PM |
Gannett Co. Inc. (NYSE: GCI) blamed lower advertising revenue for reporting preliminary fourth quarter earnings that dropped to 69 cents per share.  The newspaper publisher warned that the preliminary results do not reflect up to $5.9 billion in write-downs.  The stock price dropped $1.13 to close at $5.77.

NOVA Chemicals Swings To Loss

January 30, 2009 10:59 AM |
An analyst downgraded NOVA Chemicals Corp. (NYSE: NCX) after the company swung to a fourth quarter loss of $2.56 per share compared with income of $1.51 per share a year earlier and posted a loss for the full year of 57 cents per share compared with earnings of $4.16 per share last year.  The stock price plunged $1.15 to $1.95.

Juniper's Revenue Slips

January 30, 2009 10:58 AM |
Shares of Juniper Networks Inc. (Nasdaq: JNPR) tumbled $2.76 to $14.21 after the network equipment maker reported higher profits of 25 cents per share compared with 22 cents per share last year on lower revenues.  Analysts promptly downgraded the stock.

Amazon Beats Estimates

January 30, 2009 10:36 AM |
Shares of Amazon.com (Nasdaq: AMZN) surged $8.26 to $58.26 after the online retailer reported fourth quarter profits of 52 cents per share compared with 48 cents per share in the year ago period that surpassed expectations.

Kodak Swings To Loss

January 29, 2009 3:11 PM |
Eastman Kodak Co. (NYSE: EK) swung to a loss for the fourth quarter of 51 cents per share compared with earnings of 75 cents per shares last year and will cut up to 4,500 positions as sales plummeted.  The stock price plunged $2.08 to close at $4.99.

Oshkosh Swings To Loss

January 29, 2009 3:10 PM |
Specialty vehicle maker Oshkosh Corp. (NYSE: OSK) swung to a first quarter loss of 28 cents per share compared with income of 50 cents per share in the year ago period due to the sluggish global economy, withdrew its full year outlook, and announced layoffs and production cuts sending the stock price plummeting $3.29 to close at $7.53.

Earnings Climb For Gold Fields

January 29, 2009 2:29 PM |

Gold Fields Ltd. (NYSE: GFI) reported higher fourth quarter earnings and achieved full production at its expansion projects.  The stock price climbed 95 cents to close at $10.64.


Textron Swings To Loss

January 29, 2009 10:57 AM |

Textron Inc. (NYSE: TXT) blamed the economic slump for swinging to a fourth quarter loss of 87 cents per share compared with income of $1 per share last year and announced that it will eliminate an additional 2,000 jobs.  The stock price slumped $4.22 to $9.08.

Dryships Breached Financial Covenants

January 29, 2009 10:56 AM |

Shares of Dryships Inc. (Nasdaq: DRYS) plummeted $3.19 to $9.03 after the Greek bulk carrier reported a breach of financial covenants and plans to issue $500 million in new stock.

 

Sepracor Swings To Profit

January 29, 2009 10:50 AM |

Sepracor Inc. (Nasdaq: SEPR) posted higher fourth quarter earnings of 77 cents per share compared with losses of 5 cents per share in the year ago period as the drug maker cut costs and reduced headcount to reaffirm its 2009 profit outlook.  Shares of the pharmaceutical surged $2.17 to $15.80.

Insurers Rise Over Possible Government Aid

January 28, 2009 2:04 PM |
Shares of insurers MGIC Investment Corp. (NYSE: MTG) leaped $1.06 to close at $3.32, MBIA Inc. (NYSE: MBI) soared 97 cents to close at $4.49 and Ambac Financial Group Inc.(NYSE: ABK) surged 25 cents to close at $1.29 over anticipation that the government will take on bad assets from financial institutions.

Allied Capital May Default

January 28, 2009 2:03 PM |
Allied Capital Corp. (NYSE: ALD) is negotiating with its lenders to amend the terms of its credit agreements and warned that it is close to defaulting on its debt.  Shares of the private equity firm slumped $1.69 to close at $1.91.


 

Century Aluminum To Raise $100 Million

January 28, 2009 2:01 PM |

Century Aluminum Co. (Nasdaq: CENX) announced plans to raise $100 million by offering new shares sending the stock price plummeting $2.75 to close at $4.60.

Colonial BancGroup Swings To Loss

January 28, 2009 9:20 AM |

Colonial BancGroup Inc. (NYSE: CNB) blamed a significant goodwill charge for swinging to a fourth quarter loss of $825 million.

Private Equity Assets Surged For State Street

January 28, 2009 9:19 AM |

Shares of State Street Corp. (NYSE: STT) soared $6.12 to $25.74 after its private equity group reported a 60% increase in assets under management for 2008.

Wells Fargo Posts Loss But Dividend Payment Intact

January 28, 2009 9:14 AM |
Wells Fargo (NYSE: WFC) posted a $2.83 billion fourth quarter loss while keeping its dividend payment intact.  To the relief of investors, the banking giant also maintained assumptions about risks associated with its recent acquisition of Wachovia.  The stock price leaped $4.15 to $20.34.


Cott's Exclusive Soda Supply Contract With Wal-Mart To End

January 27, 2009 2:21 PM |

Cott Corp. (NYSE: COT) will phase out its exclusive soda drink supply agreement with Wal-Mart Stores Inc. (NYSE: WMT) with a complete termination of the relationship in January 2012.  Shares of Cott plunged 37 cents to close at 92 cents while Wal-Mart stock edged up 19 cents to close at $48.79.

American Airlines Unions Request Federal Mediation

January 27, 2009 2:21 PM |

All the unions of American Airlines (NYSE: AMR) have requested federal mediation from the National Mediation Board sending shares of the airliner tumbling 96 to close at $6.25.

MarkWest Enters Joint Venture With NGP

January 27, 2009 2:17 PM |

MarkWest Energy Partners LP (NYSE: MWE) entered a joint venture with NGP Midstream & Resources to build and operate midstream gas services.  The stock price leaped $2.88 to close at $12.60.

Earnings Surge For Netflix

January 27, 2009 10:41 AM |
Fourth quarter earnings for Netflix (Nasdaq: NFLX) surged to 34 cents per share from 23 cents per share last year as the online DVD rental company added more customers and forecast first quarter revenue ahead of estimates.  The stock price leaped $4.54 to $34.69.

Astellas Offers $1 Billion For CV Therapeutics

January 27, 2009 10:40 AM |

Japanese drug maker Astellas Pharma offered approximately $1 billion to acquire CV Therapeutics Inc. (Nasdaq: CVTX).  The stock price leaped $4.62 to $15.97.

Delta Posts Massive Loss

January 27, 2009 10:34 AM |

Delta Air Lines Inc. (NYSE: DAL) posted a massive $1.4 billion loss due to employee stock awards and charges from fuel hedges sending shares of the airline plunging $1.82 to $8.11.

 

Loss Expected For Regions Financial

January 26, 2009 2:41 PM |
Ladenburg Thalmann analyst Richard Bove expects Regions Financial Corp. (NYSE: RF) to report a loss for 2009 and slashed his price target for the bank.  The stock price dropped 56 cents to close at $4.10.

KV Pharmaceutical Suspends Manufacturing And Shipping

January 26, 2009 2:40 PM |
KV Pharmaceutical Co. (NYSE: KV-A) suspended all of its manufacturing operations, halted the shipping of all its products and will recall most of its drugs due to quality problems raised by the Food and Drug Administration sending the stock price plummeting $1.73 to close at 51 cents.
  

U. S. Bancorp Downgraded

January 26, 2009 2:37 PM |
Goldman Sachs downgraded U. S. Bancorp (NYSE: USB) and placed the bank on Americas conviction sell list.  The stock price tumbled $1.63 to close at $13.01.

Caterpillar Disappoints

January 26, 2009 10:21 AM |
Caterpillar Inc. (NYSE: CAT) posted lower profits of $1.08 per share compared with $1.50 per share in the year ago period and lowered its outlook for 2009.  The maker of bulldozers and other construction equipment also announced plans to cut nearly 20,000 jobs sending the stock price plunging $3.36 to $32.30.

Barclays Beats Estimates

January 26, 2009 10:11 AM |
American Depositary Receipts of Barclays PLC (NYSE: BCS) leaped $1.98 to $5.05 after the UK-based bank posted a profit for 2008 which beat expectations.

Pfizer Acquires Wyeth

January 26, 2009 9:59 AM |
As expected, Wyeth (NYSE: WYE) was acquired by Pfizer Inc. (NYSE: PFE) in a $68 billion deal.  Shares of Wyeth edged up 17 cents to $43.91 while Pfizer stock tumbled $1.69 to $15.76.

Southwest Downgraded

January 23, 2009 1:58 PM |
Analysts downgraded Southwest Airlines Co. (NYSE: LUV) saying that the stock price was too high since capacity cuts and increasing expenses are expected.  Shares of the airliner plunged $1.81 to close at $8.00.

Citigroup To Sell $12 Billion In Notes

January 23, 2009 1:58 PM |
Citigroup Inc. (NYSE: C) announced the sale of $12 billion worth of notes backed by the FDIC.  The stock price climbed 36 cents close at $3.47.

UCBH Swings To Loss

January 23, 2009 1:51 PM |

UCBH Holdings Inc. (Nasdaq: UCBH) swung to a loss for the fourth quarter of 51 cents per share compared with income of 16 cents per share a year earlier as loan loss provisions soared.  Shares of the holding company of United Commercial Bank plummeted $1.06 to close at $2.18.

Microsemi's Forecast Disappoints

January 23, 2009 9:59 AM |
Although Microsemi Corp. (Nasdaq: MSCC) reported higher first quarter earnings of 16 cents per share compared with 11 cents per share in the year ago period, the chip maker forecast second quarter results well below analyst estimates.  The stock price plummeted $2.21 to $8.16.

Geron's Stem Cell Study Approved

January 23, 2009 9:58 AM |

The Food and Drug Administration approved Geron Corp.'s (Nasdaq: GERN) study to treat spinal cord injuries with human embryonic stem cells, the first study of its kind in the world.  Shares of the biopharmaceutical leaped $2.49 to $7.70.



Aflac Says No Need To Raise New Capital

January 23, 2009 9:52 AM |

Insurer AFLAC Inc. (NYSE: AFL) rebounded by soaring $3.75 to $26.65 after stating that it did not need to raise new capital.

Dryships Suspends Dividend

January 22, 2009 2:07 PM |

In its efforts to preserve capital, Dryships Inc. (Nasdaq: DRYS) suspended its dividend, announced plans to sell some of its vessels and cancelled ship orders.  Shares of the drybulk carrier plummeted $4.01 to close at $10.49.

Eclipsys' Forecast Falls Short

January 22, 2009 2:06 PM |

Eclipsys (Nasdaq: ECLP) forecast fourth quarter income that fell short of expectations prompting downgrades.  Shares of the healthcare information technology company plunged $3.33 to close at $8.01.

Seagate Disappoints

January 22, 2009 1:59 PM |

Seagate Technology (Nasdaq: STX) disappointed with a wider than expected second quarter loss of $1.02 per share compared with a profit of 73 cents per share in the year ago period and forecast third quarter results below estimates.  The stock price slumped $1.02 to close at $3.23.

Aflac Exposed To Hybrid Securities Losses

January 22, 2009 10:00 AM |

Shares of Aflac Inc. (NYSE: AFL) plummeted $10.28 to $25.99 over concerns that the insurer may be exposed to losses from hybrid securities.

Fifth Third Bancorp Reports $2.2 Billion In Losses

January 22, 2009 9:59 AM |
Fifth Third Bancorp (Nasdaq: FITB) reported $2.2 billion in losses in the fourth quarter due to rising loan defaults.  The stock price slumped $1.22 to $2.77.

Autonomy Offers $775 Million For Interwoven

January 22, 2009 9:54 AM |

British software maker Autonomy Corp. offered $775 million to buy Interwoven Inc. (Nasdaq: IWOV), a data management software company sending the stock price soaring $3.63 to $15.47.


 

JPMorgan May Advise Satyam

January 21, 2009 3:09 PM |

JPMorgan Chase & Co. (NYSE: JPM) was one of several banks being considered to advise Satyam Computer Services' new board in restructuring the firm after a $1 billion fraud scandal.  The stock price surged $4.54 to close at $22.63.

Citigroup Not Selling Banamex

January 21, 2009 3:08 PM |

Citigroup Inc. (NYSE: C) said that it will not sell Banamex, the Mexican bank it purchased in 2001 for $12.5 billion.  The stock price leaped 87 cents to close at $3.67.

 

Bank Of America CEO Buys 200,000 Shares

January 21, 2009 3:05 PM |

The chief executive of Bank of America Corp. (NYSE: BAC), Kenneth Lewis, purchased 200,000 common shares of the bank to send the stock price soaring $1.58 to close at $6.68. 

 

AMR Widens Losses

January 21, 2009 9:06 AM |
American Airlines parent AMR Corp. (NYSE: AMR) widened fourth quarter losses to $1.22 from 28 cents per share a year earlier due to greater fuel expenses.  Shares of the airliner plunged $2.73 to $7.73.

Revenue Rises For Ericsson

January 21, 2009 9:06 AM |
Although fourth quarter earnings for LM Ericsson Telephone Co. (Nasdaq: ERIC) fell, revenue rose and the telecommunications equipment maker announced the elimination of another 5,000 jobs.  The stock price climbed $1.03 to $7.64.

 


 

Earnings More Than Double For Northern Trust

January 21, 2009 8:58 AM |

Northern Trust Corp. (Nasdaq: NTRS) reported sharply higher first quarter earnings that more than doubled to $1.47 per share from 55 cents per share in the year ago period sending the stock price soaring $11.19 to $55.12.


 

Analyst Expects Wells Fargo Dividend Cut

January 20, 2009 2:10 PM |
Friedman, Billings, Ramsay analyst Paul Miller said that Wells Fargo & Co. (NYSE: WFC) must lower its dividend in order to build up some capital.  The stock price plunged $4.45 to close at $14.23.

Bank of America Downgraded

January 20, 2009 2:10 PM |
Stifel, Nicolaus & Co. analyst Christopher Mutascio downgraded Bank of America Corp. (NYSE: BAC) citing the increasing government funds required to keep the bank solvent.  The stock price plunged $2.08 to close at $5.10.

PNC Downgraded

January 20, 2009 2:07 PM |
Standard & Poor's downgraded PNC Financial Services Group Inc. (NYSE: PNC) and cut its earnings estimate for the financial services firm sending the stock price plummeting $15.54 to close at $22.00.


Earnings Plunge For State Street

January 20, 2009 11:23 AM |

State Street Corp. (NYSE: STT) disappointed with sharply lower fourth quarter earnings of 15 cents per share compared with 57 cents per share in the year ago period.  The stock price plummeted $17.74 to $18.61.

RBS Warns Of Losses Up To $41.3 Billion

January 20, 2009 11:22 AM |
Royal Bank of Scotland (NYSE: RBS) warned that its full year losses could be as much as $41.3 billion while the British government increased its stake in the troubled bank to 70% from 58%.  The stock price skidded $7.49 to $3.36.

 

FDA May Not Approve AspenBio's Appendicitis Test

January 20, 2009 10:55 AM |

Although AspenBio Pharma Inc. (Nasdaq: APPY) reported upbeat preliminary clinical trial results for its blood based test to diagnose appendicitis, concerns were raised whether the FDA would approve the test.  Shares of the biopharmaceutical collapsed $6.43 to $1.20.

Barclays Plunges Over Bankruptcy Concerns

January 16, 2009 3:34 PM |
Concerns of further bankruptcies among financial services companies sent shares of Barclays plc (NYSE: BCS) plunging $1.15 to close at $7.25.  Barclays refused to accept government bailout funds in October.

First Horizon Narrows Losses

January 16, 2009 3:26 PM |
First Horizon National Corp. (NYSE: FHN) narrowed fourth quarter losses to 27 cents per share compared with $1.88 per share in the year ago period as its loan loss provisions declined.  Shares of the regional bank surged $1.36 to close at $8.82.

 


Genworth Awaiting Review To Become S&L

January 16, 2009 2:14 PM |
Insurer Genworth Financial Inc. (NYSE: GNW) said that its application to become a savings and loan is still being reviewed by the U. S. Office of Thrift Supervision.  If approved, the company will be eligible for federal assistance.  The stock price climbed 32 cents to close at $2.38.

CF Industries Offers $2 Billion For Terra Industries

January 16, 2009 10:05 AM |

CF Industries (NYSE: CF) offered $2 billion in stock to acquire competing nitrogen fertilizer maker Terra Industries (NYSE: TRA).  Shares of CF Industries fell 88 cents to $46.35 while Terra Industries stock surged $3.09 to $19.38.

Bank Of America Accepts $20 Billion In Federal Funds

January 16, 2009 10:04 AM |
Bank of America Corp. (NYSE: BAC) accepted another $20 billion in federal funds to stabilize its balance sheet as it completed its acquisition of Merrill Lynch.  The stock price tumbled $1.25 to $7.07.

 

Citigroup Posts $8.2 Billion Loss

January 16, 2009 9:58 AM |

Citigroup Inc. (NYSE: C) posted a $8.2 billion quarterly loss and announced plans to split the company into a traditional bank and a financial services company holdings its riskier assets.  The stock price eased 4 cents to $3.79.

Retreating Oil Lifts Airlines

January 15, 2009 1:45 PM |

Retreating oil prices lifted shares of American Airlines parent AMR Corp. (NYSE: AMR) 74 cents to close at $10.98, Delta Air Lines Inc. (NYSE: DAL) 68 cents to close at $10.97 and Continental Airlines Inc. (NYSE: CAL) 99 cents to close at $18.76.

Trimble Lowers Forecast

January 15, 2009 1:44 PM |
Shares of Trimble Navigation Ltd. (Nasdaq: TRMB) plummeted $4.11 to close at $15.55 after the navigation device maker lowered its fourth quarter forecast.

Apple CEO Steve Jobs Takes Leave Of Absence

January 15, 2009 1:40 PM |
Shares of Apple Inc. (Nasdaq: AAPL) fell $1.95 to close at $83.38 after Steve Jobs, its CEO, took a leave of absence due to personal health issues.

Marshall & Ilsley Swings To Loss

January 15, 2009 9:50 AM |
Marshall & Ilsley Corp. (NYSE: MI) swung to a fourth quarter loss of $1.55 per share compared with earnings of $1.83 per share last year due to higher loan-loss provisions.  Shares of the regional bank plunged $2.69 to $8.03.

Bank Of America And Citigroup Request More Federal Funds

January 15, 2009 9:49 AM |
Bank of America Corp. (NYSE: BAC) asked for more federal funds in order to absorb losses from its acquisition of Merrill Lynch.  Meanwhile, shares of Citigroup Inc. (NYSE: C) continued to slide by tumbling 83 cents to $3.70 due to mounting losses requiring more bailout funds.  Bank of America stock plunged $2.10 to $8.10.

FDA Approves Cypress' And Forest Labs' Pain Drug

January 15, 2009 9:41 AM |

Cypress Bioscience Inc. (Nasdaq: CYPB) and Forest Laboratories Inc. (NYSE: FRX) announced FDA approval for its drug treatment of chronic pain.  Shares of Cypress leaped $.186 to $9.08 while Forest Laboratories stock rose 88 cents to $25.11.


Cliffs Natural Resources Defers Revenue Recognition

January 14, 2009 2:40 PM |
Cliffs Natural Resources Inc. (NYSE: CLF) must defer recognition of 1.2 million tons of iron ore, which will lower pretax income by approximately $50 million, due to the shipping schedules of some clients.  The stock price plummeted $4.43 to close at $21.06.

Yahoo Names Bartz To CEO Position

January 14, 2009 2:39 PM |
Yahoo Inc. (Nasdaq: YHOO) named Carol Bartz as its new chief executive.  Bartz previously helmed Autodesk and turned the foundering company into a $1 billion a year dominant computer aided design software company.  Shares of the Internet service provider rose 31 cents to close at $12.41.


Huntington Bancshares Selects New CEO

January 14, 2009 2:35 PM |
Huntington Bancshares Inc. (Nasdaq: HBAN) selected Stephen Steinour, the former chief executive of Citizens Financial Group, to replace its chairman and chief executive Thomas Hoaglin who will retire at the end of next month.  The stock price dropped 96 cents to close at $4.95.

Flextronics Falls Over Nortel Bankruptcy

January 14, 2009 9:08 AM |
Shares of Flextronics International Ltd. (NYSE: FLEX) tumbled 45 cents to $2.55 after the bankruptcy filing of major client Nortel Networks Corp. (NYSE: NT).

Citigroup Continues Sliding

January 14, 2009 9:08 AM |
Shares of Citigroup Inc. (NYSE: C) continued to slide by falling another 98 cents to $4.92 as investors pondered about the business makeup of the troubled banking firm as it sells off assets.

Nortel Files For Bankruptcy

January 14, 2009 9:02 AM |
Shares of Nortel Networks Corp. (NYSE: NT) became virtually worthless after the Canadian telecommunications equipment maker filed for bankruptcy.

AerCap Announces Deals

January 13, 2009 2:18 PM |
AerCap Holdings N. V. (NYSE: AER) announced that during the fourth quarter, it signed fourteen new aircraft lease agreements and completed the delivery of twelve aircraft.  The stock price surged $1.42 to close at $5.69.

Rambus Continues Falling

January 13, 2009 2:17 PM |
Shares of Rambus Inc. (Nasdaq: RMBS) continued falling by plunging $1.59 to close at $9.95 after a federal judge ruled that its patents were unenforceable against Micron Technology Inc. (NYSE: MU).  Shares of Micron eased a penny to close at $3.15.


 

Cepheid Disappoints

January 13, 2009 2:13 PM |

Cepheid (Nasdaq: CPHD) disappointed with fourth quarter and full year guidance that missed analyst estimates and forecast flat sales for 2009 sending the stock price tumbling $1.31 to close at $7.07.

Lexmark Lowers Outlook

January 13, 2009 10:40 AM |
Lexmark International Inc. (NYSE: LXK) blamed high restructuring costs along with sluggish computer printer sales for lowering its fourth quarter guidance and announced plans to eliminate 375 positions.  The stock price plummeted $3.27 to $25.08.

More Foreclosure Assistance Lifts Wells Fargo

January 13, 2009 10:37 AM |
Shares of Wells Fargo & Co. (NYSE: WFC) gained 63 cents to $24.43 after President-elect Barack Obama's housing secretary nominee Shaun Donovan said that the government will utilize more aggressive tactics to stem the tide of foreclosures.


ZymoGenetics Enters Deal With Bristol-Myers

January 13, 2009 10:27 AM |
ZymoGenetics Inc. (Nasdaq: ZGEN) entered a hepatitis C drug development deal with Bristol-Myers Squibb Co. (NYSE: BMY) valued at up to $1.12 billion.  Shares of ZymoGenetics leaped $1.08 to $4.20 while Bristol-Myers stock eased 5 cents to $22.10.

Hartford's Credit May Deteriorate Further

January 12, 2009 1:49 PM |
Goldman Sachs analyst Christopher Neczypor warned that Hartford Financial Services Inc. (NYSE: HIG) is still at risk for credit deterioration.  Shares of the insurer plummeted $3.38 to close at $14.78.

Motley Fools Says Avoid Level 3 Communications

January 12, 2009 1:48 PM |
Motley Fool listed Level 3 Communications Inc. (Nasdaq: LVLT) as a stock to avoid because the company spends a lot of cash while holding much debt.  The stock price dropped 28 cents to close at $1.21.

Seagate Dismisses CEO, Announces Layoffs

January 12, 2009 1:41 PM |
SeagateTechnology (Nasdaq: STX) dismissed chief executive Bill Watkins and announced that 10% of jobs in the U. S. will be eliminated sending the stock price tumbling 88 cents to close at $4.76.

Satyam Continues Decline

January 12, 2009 10:22 AM |

The new board of Satyam Computer Services Ltd. (NYSE: SAY) warned that it will need time to restate financials and to search for a new chief executive.  Last week, India's fourth largest computer company admitted to overstating cash balances by more than $1 billion.  The stock price plummeted $7.77 to $1.58.

Hologic Boosts Profit Forecast

January 12, 2009 10:21 AM |
Shares of Hologic Inc. (Nasdaq: HOLX) surged $2.10 to $13.00 after the medical equipment maker lowered its first quarter revenue outlook, but boosted its profit forecast.

 

Advanced Medical Receives $2.8 Billion Offer From Abbott Labs

January 12, 2009 10:18 AM |

Advanced Medical Optics Inc. (NYSE: EYE) received a $2.8 billion offer from Abbott Laboratories (NYSE: ABT).  Shares of Advanced Medical leaped $12.74 to $21.59 while Abbott Laboratories stock eased 62 cents to $50.55.



Chevron Warns Of Lower Profit

January 9, 2009 2:19 PM |
Chevron Corp. (NYSE: CVX) warned that fourth quarter income will be sharply lower than third quarter earnings due to the significant drop in crude oil prices.  The stock price dropped $1.42 to close at $72.82.

CVS' Forecast Disappoints

January 9, 2009 2:18 PM |
CVS Caremark Corp. (NYSE: CVS) forecast 2009 results that fell short of expectations sending shares of the retail pharmacy plunging $3.65 to close at $25.69.

Rambus Patents Unenforceable

January 9, 2009 2:11 PM |
A federal judged ruled that twelve of Rambus Inc.'s (Nasdaq: RMBS) patents could not be enforced in its lawsuit against Micron Technology Inc. (NYSE: MU).  Shares of Rambus plummeted $7.26 to close at $11.24 while Micron stock eased 12 cents to close at $3.29.

Positive Reviews For Palm's New Operating System

January 9, 2009 9:55 AM |
Shares of Palm Inc. (Nasdaq: PALM) surged $1.70 to $6.15 as its new mobile operating system received positive reviews from industry pundits.

Questions About Old Joint Venture Weigh Down Lennar

January 9, 2009 9:53 AM |
An old letter to the Securities and Exchange Commission questioning a joint venture between homebuilder Lennar Corp. (NYSE: LEN) and a private developer surfaced on the Internet sending the stock price plunging $2.14 to $9.28.

Earnings Rise For Apollo Group

January 9, 2009 9:45 AM |
Apollo Group Inc. (Nasdaq: APOL) reported higher first quarter earnings of $1.12 per share compared with 83 cents per share that beat expectations prompting an analyst to upgrade the parent company of University of Phoenix.  Shares of the education company leaped $9.78 to $87.00.

Shaw Group Beats

January 8, 2009 2:25 PM |
Although Shaw Group Inc. (NYSE: SGR) swung to a loss of 48 cents per share for the first quarter compared with earnings of 3 cents per share in the year ago period, the results topped analyst estimates to lift the stock price $5.16 to close at $27.33.

Manitowoc Narrows Guidance

January 8, 2009 2:25 PM |
Manitowoc Co. Inc. (NYSE: MTW) narrowed its full year guidance to the low end of its earlier outlook.  The stock price tumbled $1.11 to close at $8.39.

American Oriental Bioengineering Downgraded

January 8, 2009 2:21 PM |
Piper Jaffray downgraded American Oriental Bioengineering Inc. (NYSE: AOB) sending the stock price plunging $1.52 to close at $5.51.

Ion Warns

January 8, 2009 10:59 AM |
Ion Geophysical Corp. (NYSE: IO) warned that fourth quarter revenue will plunge 31% and full year revenue will fall short of expectations due to the slumping global economy sending the stock price plummeting $1.42 to $2.75.

Parametric's Outlook Falls Short

January 8, 2009 10:57 AM |
Parametric Technology Corp. (Nasdaq: PMTC) cited lower license sales for offering first quarter profit outlook below expectations.  The stock price plunged $2.16 to $10.69.

TD Ameritrade Offers $606 Million For Thinkorswim

January 8, 2009 10:51 AM |
Thinkorswim Group Inc. (Nasdaq: SWIM) received a $606 million cash and stock offer from retail brokerage firm TD Ameritrade Holding Corp. (Nasdaq: AMTD).  Shares of thinkorswim leaped $2.64 to $8.29 while TD Ameritrade stock eased 22 cents to $13.27.


General Growth Settles Lawsuit

January 7, 2009 2:37 PM |
General Growth Properties Inc. (NYSE: GGP) agreed to pay $48 million to settle a lawsuit over a California mall joint venture.  Shares of the real estate investment trust climbed 38 cents to close at $1.98.

Challenging Environment For Casinos

January 7, 2009 2:35 PM |
JPMorgan analyst Joseph Greff said that 2009 will continue to be challenging for casino operators sending shares of Las Vegas Sands Corp. (NYSE: LVS) down $1.00 to close at $7.40.


Reliant Energy Shut Down California Unit

January 7, 2009 2:30 PM |
Reliant Energy Inc. (NYSE: RRI) shut down its 775-megawatt Unit 2 located at the Ormond Beach natural gas-fired station in California.  The stock price plunged $1.48 to close at $5.69.

GM Scraps New Sport Truck Plans

January 7, 2009 9:10 AM |
General Motors Corp. (NYSE: GM) scrapped plans for the two-door, six-foot bed Pontiac G8 sport truck lifting the stock price 16 cents to $4.10.

Time Warner Cable Warns Of Losses

January 7, 2009 9:08 AM |
Time Warner Cable Inc. (NYSE: TWC) warned of a full-year loss for 2008 due to a one-time $15 billion noncash pretax impairment charge on its cable franchise rights.  The stock price fell $1.15 to $21.50.

Intel Lowers Outlook Again

January 7, 2009 9:05 AM |
Intel Corp. (Nasdaq: INTC) lowered its fourth quarter outlook again well below analysts' targets sending shares of the chipmaker down 44 cents to $14.92.

Developers Diversified Promotes Executives

January 6, 2009 2:19 PM |
Developers Diversified Realty Corp. (NYSE: DDR) announced the promotion of Paul W. Freddo to the position of senior executive vice president of leasing and development and David J. Oakes to senior executive vice president of finance and chief investment officer.  Shares of the real estate investment trust surged $2.05 to close at $7.75.

Allied Capital Upgraded

January 6, 2009 2:19 PM |
Shares of Allied Capital Corp. (NYSE: ALD) continued rising by soaring $1.25 to close at $4.80 after a revised credit agreement prompted Stifel Nicolaus analyst Greg Mason to upgrade the company.


ArvinMeritor To Cut Executive Salaries

January 6, 2009 2:15 PM |
ArvinMeritor Inc. (NYSE: ARM) will cut the salaries of its top executives by 10% due to the ailing economy.  Shares of the auto parts supplier leaped $1.28 to close at $3.95.

LDK Cuts Guidance

January 6, 2009 10:11 AM |
LDK Solar Co. Ltd. (NYSE: LDK) cut its revenue guidance for the fourth quarter due to delayed customer shipments sending the stock price down $1.00 to $13.84.

IntercontinentalExchange Drops For Second Day

January 6, 2009 10:10 AM |
Shares of IntercontinentalExchange Inc. (NYSE: ICE) plummeted $10.02 to $62.98 as a drop in commodity futures trading cut into its average daily commissions total.

Endo Offers $370 Million For Indevus

January 6, 2009 10:06 AM |
Indevus Pharmaceuticals Inc. (Nasdaq: IDEV) received a $370 million buy-out offer from Endo Pharmaceuticals Holdings Inc. (Nasdaq: ENDP) to diversify its drug portfolio.  Shares of Indevus leaped $2.21 to $5.31 while Endo stock plunged $3.48 to $20.57.

Analyst Warns Of Losses For Saks

January 5, 2009 2:21 PM |

Barclays Capital analyst Robert Drbul said that while heavy holiday promotions may have lifted sales for Saks Inc. (NYSE: SKS), 2008 earnings will most likely be impacted negatively.  Drbul expects Saks to post a loss for the year.  Shares of the retailer tumbled 65 cents to close at $4.40.

Northstar To Liquidate And Dissolve Company

January 5, 2009 2:20 PM |

Northstar Neuroscience Inc. (Nasdaq: NSTR) announced that after much consideration, it will liquidate its assets and dissolve the company.  Shares of the medical device maker soared 47 cents to close at $1.75.

 

 

Bargain Hunters Lift American Capital

January 5, 2009 2:13 PM |

Bargain hunters snapped up shares of American Capital Ltd. (Nasdaq: ACAS) to send the stock price soaring $1.52 to close at $5.20.  The stock price of the investment firm plummeted 90.2% in 2008 and was listed as one of the top 10 worst performers on the S&P 500 last year.

 

Synovus Warns Loan Loss Provision To Quadruple

January 5, 2009 10:18 AM |

JPMorgan Securities analyst Steven Alexopoulos slashed his price target for Synovus Financial Corp. (NYSE: SNV) and forecast a fourth quarter loss after the company warned that its loan loss provision for the fourth quarter will more than quadruple.  Shares of the bank holding company tumbled $1.00 to $7.20.

Conmed Lowers Outlook

January 5, 2009 10:17 AM |

Surgical equipment maker Conmed Corp. (Nasdaq: CNMD) lowered its fourth quarter outlook blaming a strong dollar and weak hospital demand domestically.  The stock price plummeted $7.09 to $16.90.

 

 

Jobs To Remain Apple CEO

January 5, 2009 10:12 AM |

Steve Jobs has hormonal imbalance causing weight loss, but is expected to remain CEO of Apple Inc. (Nasdaq: AAPL) lifting the stock price $4.05 to $94.80.

 

Overseas Box Office Receipts Jump For Universal

January 2, 2009 2:32 PM |
Universal Pictures, which is owned by General Electric Co. (NYSE: GE), reported a 66% jump in overseas box office receipts to $1.7 billion.  GE stock gained 87 cents to close at $17.07.

Liz Claiborne To Meet With Retailers

January 2, 2009 2:30 PM |
Liz Claiborne Inc. (NYSE: LIZ) will meet with retailers to force them to absorb some of the steep discounts made during the holiday shopping season.  Shares of the apparel maker surged 71 cents to close at $3.31.

China Tech To Build Solar Plant

January 2, 2009 2:26 PM |
China Technology Development Group Corp. (Nasdaq: CTDC) and Qinghai New Energy Group announced plans to build a 30 megawatt solar power plant sending the stock price soaring 51 cents to close at $2.54.

Emcore Sued

January 2, 2009 10:35 AM |

Several class action lawsuits were filed against Emcore Corp. (Nasdaq: EMKR) for issuing false statements that artificially lifted the stock price sending the stock price down 20 cents to $1.10.

Wells Fargo And Bank Of America Complete Acquisitions

January 2, 2009 10:34 AM |

Wells Fargo & Co. (NYSE: WFC) completed its acquisition of Wachovia to give the banking giant a nationwide footprint while Bank of America Corp. (NYSE: BAC) absorbed Merill Lynch and was expected to keep the brand name.  Shares of Wells Fargo eased 4 cents to $29.44 while Bank of America stock edged up 2 cents to $14.10.

No Jobs At Macworld But Apple Up

January 2, 2009 10:09 AM |

Shares of Apple Inc. (Nasdaq: AAPL) climbed $4.10 to $89.45 ahead of a key trade show where Steve Jobs will not be making an appearance for the first time in years.

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