January 2009 Archives
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 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.
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 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.
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 Inc. (NYSE: CNB) blamed a significant goodwill charge for swinging to a fourth quarter loss of $825 million.
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.
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.
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 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.
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 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.
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.
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.
Insurer AFLAC Inc. (NYSE: AFL) rebounded by soaring $3.75 to $26.65 after stating that it did not need to raise new capital.
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 (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 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.
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.
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 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 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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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 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 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.
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.
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.
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.
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 & 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.
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.