February 2009 Archives
President Obama's budget proposal to provide only loans directly from the government to students sent shares of student lender Nelnet Inc. (NYSE: NNI) plummeting $5.83 to close at $4.91.
Fourth quarter earnings for Cliffs Natural Resources Inc. (NYSE: CLF) tumbled to 47 cents per share from 88 cents per share a year earlier due to hefty charges. Shares of the iron ore pellet producer plunged $3.05 to close at $16.14.
Fourth quarter earnings for NII Holdings Inc. (Nasdaq: NIHD) plunged to 5 cents per share from 71 cents per share in the year ago period to fall far short of expectations due to mounting expenses. The Latin American wireless carrier forecast disappointing 2009 sales sending the stock price plummeting $3.28 to close at $13.21.
Investors relieved that banks will not be nationalized lifted shares of Fifth Third Bancorp (Nasdaq: FITB) 39 cents to $2.33, SunTrust Banks (NYSE: STI) $2.20 to $13.10 and Zions Bancorp (Nasdaq: ZION) $1.36 to $10.98.
Psychiatric Solutions Inc. (Nasdaq: PSYS) disappointed with lower fourth quarter earnings that fell short of estimates as margins dropped and lowered its full year guidance. The stock price plummeted $9.59 to $17.70.
Las Vegas Sands Corp. (NYSE: LVS) will appeal a lower courts decision that casino operator's license to operate a ferry between Hong Kong and Macau, where the company owns two casino resorts, is unlawful. The stock price tumbled 43 cents to close at $2.16.
Standard & Poor's will remove American Capital Ltd. (Nasdaq: ACAS) from its S&P 500 index after market close on March 3 due to the company's low market capitalization. The stock price plunged 27 cents to close at $1.21.
Shares of banking stocks Fifth Third Bancorp (Nasdaq: FITB) surged 49 cents to close at $1.94, Huntington Bancshares Inc. (Nasdaq: HBAN) climbed 25 cents to close at $1.66 and Regions Financial Corp. (NYSE: RF) gained 47 cents to close at $3.76 after Fed Chief Ben Bernanke again dismissed the possibility of nationalizing banks and discussed stress tests that will be conducted on banks.
Although Chicago Bridge & Iron Co. (NYSE: CBI) reported higher fourth quarter earnings of 72 cents per share compared with 46 cents per share in the year ago period that topped expectations, the company forecast 2009 earnings and revenue below estimates.
ThinkEquity Partners downgraded First Solar Inc. (Nasdaq: FSLR) after the company warned that the sluggish economy will negatively impact results for rest of the year. Shares of the solar electric power modules company collapsed $26.83 to $110.85.
Agrium offered $3.6 billion in cash and stock to acquire CF Industries Holdings Inc. (NYSE: CF) with the condition that the fertilizer maker drop its bid to purchase Terra Industries Inc. (NYSE: TRA). Shares of CF leaped $7.26 to $62.84 while Terra Industries stock eased 9 cents to $24.73.
Wachovia analyst Justin B. Yagerman upgraded Eagle Bulk Shipping Inc. (Nasdaq: EGLE) saying that the stock price has fallen too much too quickly. Shares of the ocean transportation services company jumped $1.47 to close at $4.40.
Office Depot Inc. (NYSE: ODP) blamed significant restructuring charges for a $1.54 billlion fourth quarter loss. The stock price fell 19 cents to close at $1.26.
Fourth quarter earnings dropped for RadioShack Corp. (NYSE: RSH) to 50 cents per share from 77 cents per share a year earlier as the weak economy curbed consumer spending. Shares of the consumer electronics retailer plummeted $2.64 to close at $8.18.
Although Foster Wheeler AG (Nasdaq: FWLT) reported higher fourth quarter income of 75 cents per share compared with 54 cents per share in the year ago period, the construction and engineering company said that new orders slowed sending the stock price plummeting $3.79 to $15.41.
Developers Diversified Realty Corp. (NYSE: DDR) will sell 30 million shares valued at approximately $112.5 million to owners of German shopping center developer ECE Projektmanagement. The stock price soared 80 cents to $3.30.
According to Thomas Reuters service IFR, Hewlett-Packard Co. (NYSE: HPQ) will sell $2.7 billion in notes. The stock price dropped $1.96 to close at $29.28.
Intel Corp. (Nasdaq: INTC) will raise capital through the sale of debt, stock or other securities sending the stock price down 70 cents to close at $12.08.
While Humana Inc. (NYSE: HUM) affirmed its guidance for 2009, the health insurer warned that 2010 Medicare Advantage payment rates may negatively impact 2010 results prompting a downgrade. Shares of the insurer plummeted $9.71 to close at $30.83.
International Petroleum Investment Co. will pay approximately $499.2 million to acquire Nova Chemicals Corp. (NYSE: NCX). Shares of the plastics producer leaped $3.97 to $5.31.
Shares of Hartford Financial Services Group Inc. (NYSE: HIG) tumbled 94 cents to close at $6.79 over continued concerns about the life insurer's exposure to mortgage losses.
Huntington Bancshares Inc. (Nasdaq: HBAN) began eliminating jobs in order to save $100 million. The stock price soared 33 cents to close at $1.36.
Century Aluminum Co. (Nasdaq: CENX) cited hefty one-time charges for widening fourth quarter losses to $14.27 per share compared with losses of $2.74 per share in the year ago period. The stock price plunged 71 cents to $2.16.
Chiquita Brands International Inc. (NYSE: CQB) blamed significant charges for sharply wider fourth quarter losses of $9.28 per share compared with losses of 68 cents per share last year. Shares of the banana and fresh produce company collapsed $5.04 to $7.69.
Investors dumped shares of Bank of America Corp. (NYSE: BAC) and Citigroup Inc. (NYSE: C) on worries that the banks may eventually be nationalized. Shares of Bank of America plummeted $1.13 to $2.80 while Citigroup stock plunged 74 cents to $1.77.
Fears that the federal government may seize control of troubled banks sent shares of Bank of America Corp. (NYSE: BAC) down 64 cents to close at $3.93 and Citigroup Inc. (NYSE: C) tumbling 40 cents to close at $2.51.
O'Reilly Automotive Inc. (Nasdaq: ORLY) reported sharply higher fourth quarter net income as revenue surged and forecast full year 2009 earnings ahead of expectations. Shares of the auto parts retailer leaped $5.10 to close at $32.84.
Although BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) reported sharply higher fourth quarter earnings of 21 cents per share compared with 3 cents per share in the year ago period as revenue more than doubled, the results fell short of estimates and the biotechnology firm forecast full year results below expectations prompting a downgrade. The stock price plummeted 55.40 to $12.29.
Sprint Nextel Corp. (NYSE: S) posted a $1.6 billion loss in the fourth quarter as the wireless carrier wrote off the remaining value of its acquisition of Nextel. The results were better than expected while subscriber losses declined. The stock price soared 74 cents to $3.45.
Moody's Investors Service downgraded PMI Group Inc.'s (NYSE: PMI) ratings to junk status sending the stock price tumbling 27 cents to close at 91 cents.
Celera Corp. (Nasdaq: CRA) swung to a loss for the fourth quarter of 8 cents per share sending the stock price tumbling $1.40 to $7.94.
Shares of Comcast Corp. (Nasdaq: CMCSA) fell 53 cents to $12.36 after the nation's largest cable TV provider posted lower earnings of 14 cents per share compared with 20 cents per share a year earlier due to a $600 million write-down of its investment in wireless technology provider Clearwire Corp. (Nasdaq: CLWR). Clearwire stock edged up 5 cents to $3.58.
Coldwater Creek Inc. (Nasdaq: CWTR) warned that fourth quarter losses will be larger than analyst expectations. Shares of the women's retailer slumped 90 cents to $2.05.
Shares of StemCells Inc. (Nasdaq: STEM) surged 35 cents to $2.47 over hopes that President Obama will lift the ban on stem cell research.
Fourth quarter earnings plunged for Great Plains Energy (NYSE: GXP) to 6 cents per share compared with 56 cents per share in the year ago period prompting the electric company to cut its full year guidance and lower its quarterly dividend. The stock price plummeted $4.16 to close at $15.39.
Nvidia Corp. (Nasdaq: NVDA) posted a fourth quarter loss of 27 cents per share compared with income of 42 cents per share in the year ago period as the graphic chip maker reported a steep drop in revenues. The stock price tumbled $1.09 to $8.23.
Standard & Poor's Ratings Services downgraded Alcoa Inc.'s (NYSE: AA) corporate credit rating on the expectation that the company's credit metrics will worsen. The stock price dropped 85 cents to close at $7.65.
Shares of Huntington Bancshares Inc. (Nasdaq: HBAN) plunged 72 cents to $1.89 and Fifth Third Bancorp (Nasdaq: FITB) plummeted 80 cents to $2.09 over doubts about the effectiveness of the government bailout plan.
U.K.-based CSR Plc offered to buy U.S. chip firm SiRF Technology Holdings Inc. (Nasdaq: SIRF) in a $136 million all-stock deal sending shares of the global positioning system company soaring 61 cents to $1.69.
Analysts downgraded Evergreen Solar Inc. (Nasdaq: ESLR) after the solar products maker swung to a fourth quarter loss of 32 cents per share from a profit of a penny per share last year. The stock price fell 31 cents to close at $1.91.
Although Cigna Corp. (NYSE: CI) swung to a loss of 77 cents per share from earnings of 93 cents per share in the year ago period for the fourth quarter, the results beat analyst estimates. The health insurer forecast 2009 results ahead of expectations sending the stock price soaring $2.95 to $20.97.
Akamai Technologies Inc. (Nasdaq: AKAM) reported higher fourth quarter profits of 22 cents per share compared with 20 cents per share a year earlier as demand for Internet bandwidth services rose. The stock price soared $2.49 to $16.66.
InterMune (Nasdaq: ITMN) reported upbeat results for a late stage clinical trial of its lung disease treatment pirfenidone sending shares of the biotechnology company soaring $4.30 to close at $16.17.
DryShips Inc. (Nasdaq: DRYS) renegotiated the terms of its loans in order to regain compliance with its lenders. Shares of the drybulk carrier surged $1.20 to close at $6.09.
