April 2009 Archives
Expedia Inc. (Nasdaq: EXPE) reported lower first quarter earnings of 14 cents per share coompared with 17 cents per share a year earlier due to restructuring charges and lower revenue but the results beat expectations. Shares of the online travel company leaped $3.02 to close at $13.61.
Dow Chemical Co. (NYSE: DOW) reported lower revenues and a meager profit of 3 cents per share compared with 99 cents per share in the year ago period, but the results beat expectations of a quarterly loss. The stock price soared $2.49 to close at $16.00.
Wyndham Worldwide Corp. (NYSE: WYN) posted higher first quarter profits of 25 cents per share compared with 24 cents per share last year as cost-cutting offset reduced demand for hotel and vacation time shares. The stock price leaped $3.10 to close at $11.86.
Although second quarter earnings rose for Jacobs Engineering Group Inc. (NYSE: JEC) to 88 cents per share from 80 cents per share last year, revenue fell short of estimates and the company lowered its full year outlook. Shares of the engineering and construction company plummeted $5.16 to close at $40.39.
Masco Corp. (NYSE: MAS) swung to a first quarter loss of 23 cents per share compared with income of less than a penny per share a year ago as new home construction tumbled prompting the building products maker to cut its full year outlook. The stock price plunged $1.35 to close at $8.40.
Seaspan Corp. (NYSE: SSW) reversed year ago losses to post a first quarter profit of 31 cents per share compared with a loss of 65 cents per share last year but revenue fell short of estimates and the company slashed its dividend. Shares of the containership company plummeted $3.70 to $7.10.
Office Depot Inc. (NYSE: ODP) blamed the slumping global economy for swinging to a first quarter loss of 20 cents per share compared with income of 25 cents per share but the results beat analyst expectations. Shares of the office supplies retailer gained 39 cents to $2.92.
Shares of pork producer Smithfield Foods Inc. (NYSE: SFD) plunged $1.28 to close at $9.04 amidst fears of the swine flu.
Shares of Hecla Mining Co. (NYSE: HL) rose 37 cents to close at $2.60 ahead of its earnings release tomorrow.
Shares of antiviral makers Novavax Inc. (Nasdaq: NVAX) rocketed $1.41 to $2.83 and BioCryst Pharmaceuticals Inc. (Nasdaq: BCRX) surged 41.56 to $3.77 as the swine flu continued to spread.
First quarter earnings for Arch Coal Inc. (NYSE: ACI) plunged to 21 cents per share compared with 56 cents per share a year earlier as demand tumbled and the company forecast disappointingly low full year results. Shares of the coal company dropped $1.32 to close at $13.59.
Shares of Riverbed Technology Inc. (Nasdaq: RVBD) soared $3.49 to $18.08 after the data service provider reported higher first quarter profits of 13 cents per share compared with 11 cents per share last year.
Although Royal Caribbean Cruises Ltd. (NYSE: RCL) swung to a loss for the first quarter of 17 cents per share compared with income of 35 cents per share in the year ago period, the results were better than expected sending the stock price soaring $2.35 to close at $13.76.
First quarter earnings for VMware Inc. (NYSE: VMW) surged to 18 cents per share from 11 cents per share last year but the virtualization software maker warned that current quarter sales will disappoint prompting downgrades. The stock price slumped $6.63 to close at $25.92.
Although Omniture Inc. (Nasdaq: OMTR) narrowed first quarter losses to 11 cents per share from 19 cents per share in the year ago period, expenses rose and the company forecast second quarter results below estimates. Shares of the online business optimization software company tumbled $1.67 to $12.11.
Temple-Inland Inc. (NYSE: TIN) posted a profit of 33 cents per share compared with a losses of 12 cents per share in the year ago period that beat expectations by a wide margin. The stock price leaped $1.79 to close at $9.05.
Goldman Sachs analyst Patrick Archambault upgraded Ford Motor Co. (NYSE: F) lifting the stock price 53 cents to $4.33.
<p>First quarter earnings for US Bancorp (NYSE: USB) tumbled to 24 cents per share compared with 62 cents per share last year as loan loss provisions surged but the results beat expectations sending the stock price soaring $3.33 to close at $19.27.</p><br />
<p>Zions Bancorp (Nasdaq: ZION) swung to a first quarter loss of $7.29 compared with income of 97 cents per share in the year ago period due to a significant impairment charge. The stock price tumbled $1.99 to close at $10.94.</p><br />
<p>Although first quarter earnings for Teck Cominco Ltd. (NYSE: TCK) fell, the results topped estimates and revenue rose. Shares of the Canadian mining company leaped $2.56 to close at $9.97.</p><br />
Broadcom Corp. (Nasdaq: BRCM) offered approximately $764 million to acquire Emulex Corp. (NYSE: ELX). Shares of Emulex leaped $2.84 to $9.43 while Broadcom stock tumbled $1.80 to $20.00.
Kendle International Inc. (Nasdaq: KNDL) warned that first quarter earnings will fall short of expectations prompting a downgrade. Shares of the clinical research organization collapsed $10.71 to $10.65.
Tenet Healthcare Corp. (NYSE: THC) swung to a first quarter profit of 37 cents per share compared with losses of 6 cents per share in the year ago period and lifted its full year guidance. Shares of the hospital operator leaped 51 cents to $1.93.
Shares of Capital One Financial (NYSE: COF) plunged $4.47 to close at $13.38 ahead of its earnings release tomorrow.
Renewed concerns about credit losses weighed down shares of Fifth Third Bancorp ( Nasdaq: FITB) $1.18 to close at $3.65, Huntington Bancshares Inc. (Nasdaq: HBAN) 78 cents to close at $3.11 and Regions Financial (NYSE: RF) $1.43 to close at $5.80.
The FDA asked for more information about a respiratoratory drug treatment for infants from Discovery Laboratories Inc. (Nasdaq: DSCO). Shares of the biotechnology company collapsed 89 cents to close at 91 cents.
Bank of America Corp. (NYSE: BAC) posted profits of 44 cents per share compared with 23 cents per share last year that beat expectations as revenues from its recently acquired Lehman Brothers operations contributed to first quarter results. However, sizable credit losses marred the report sending the stock price plunging $2.05 to $8.55.
Beverage and snack maker PepsiCo Inc. (NYSE: PEP) offered $6.6 billion to acquire its
two largest bottlers, Pepsi Bottling Group Inc. (NYSE: PBG) and PepsiAmericas Inc. (NYSE: PAS). Shares of PepsiCo dropped $2.56 to $49.57 while Pepsi Bottling jumped $5.30 to $30.50. PepsiAmericas stock soared $4.67 to $24.55.
Sun Microsystems Inc. (Nasdaq: JAVA) received a $7.4 billion bid from Oracle Corp. (Nasdaq: ORCL) putting the Java programming language into the hands of the world's largest database company. Shares of Sun leaped $2.43 to $9.12 while Oracle stock eased 32 cents to $18.74.
Although Credit Suisse analyst Christopher Ceraso tripled his price target for Ford Motor Co. (NYSE: F), he said that the stock remains an unattractive buy. Shares of the automaker fell 16 cents to close at $4.00.
Citigroup Inc. (NYSE: C) narrowed first quarter losses to 18 cents per share compared with losses of $1.03 per share a year earlier to beat estimates but the stock price fell 36 cents to close at $3.65 as investors locked in profits.
Level 3 Communications Inc. (NYSE: LVLT) closed its $220 million senior secured term loan lifting the stock price 21 cents to close at $1.24.
Rumors that the government may take a stake in General Motors Corp. (NYSE: GM) lifted shares of the beleaguered automaker 7 cents to close at $1.78.
DryShips Inc. (Nasdaq: DRYS) officially signed a three-year contract valued at approximately $360 million with Petrobras. Shares of the drybulk shipper climbed 52 cents to close at $5.59.
Shares of Dendreon Corp. (Nasdaq: DNDN) rocketed $10.21 to $17.51 after the biotechnology company announced positive safety results for its prostate cancer drug treatment.
Banking stocks continued to rally on turnaround hopes. Shares of Citigroup Inc. (NYSE: C) leaped 76 cents to close at $3.80 and Fifth Third Bancorp (Nasdaq: FITB) surged 76 cents to close at $4.34.
According to Reuters Estimates, analysts anticipate losses in all four quarters of 2009 for KeyCorp (NYSE: KEY). The stock price fell 88 cents to close at $6.57.
Although third quarter earnings for Ruby Tuesday Inc. (NYSE: RT) tumbled to 9 cents per share from 23 cents per share last year due to significant charges, the results beat expectations prompting an upgrade. Shares of the casual dining restaurant chain leaped $2.27 to $6.16.
Bed Bath & Beyond Inc. (Nasdaq: BBBY) posted lower fourth quarter earnings of 55 cents per share compared with 66 cents per share a year earlier, but the results beat expectations. Revenues for the home products retailer edged down less than 1%. The stock price leaped $5.81 to $31.32.
YRC Worldwide Inc. (Nasdaq: YRCW) warned that it will take a $185 million one-time charge in the first quarter. Shares of the transportation services company plunged $1.43 to $4.02.
Shares of the world's largest maker of corporate jets rose 62 cents to $8.88 amid takeover speculation about Textron Inc. (NYSE: TXT).
Lincoln National Corp. (NYSE: LNC) repaid $500 million in debt and expects to pay another $200 million in the next few weeks to lift the stock price up 56 cents to $6.93.
Shares of NII Holdings Inc. (Nasdaq: NIHD) plunged $3.19 to close at $14.31 after the Latin American wireless carrier reported gains in subscribers that missed targets, particularly in Mexico, its largest market.
The American Urological Association has reserved a spot on its annual conference program for Dendreon Corp. (Nasdaq: DNDN) to present data from a late stage clinical trial of its prostate cancer treatment Provenge. Shares of the biotechnology company leaped $1.65 to close at $5.99.
Shares of Research In Motion Ltd. (Nasdaq: RIMM) soared $9.82 to $58.91 after the maker of BlackBerry smartphones posted strong fourth quarter earnings of 90 cents per share compared with 72 cents per share last year that surpassed estimates.
Navistar International Corp. (NYSE: NAV) filed a formal protest with the Pentagon over the government agency's evaluation process for a bid to supply mine-resistant ambush-protected vehicles for the military. The stock price plunged $4.62 to close at $29.21.
Juniper Networks Inc. (Nasdaq: JNPR) introduced its integrated video monitoring and analysis solution StreamScope sending the stock price up $1.16 to close at $16.94.
American Capital Ltd. (Nasdaq: ACAS) created its new Core Financial Group by combining its Core Business Credit, Velocity Financial Group and Oceana Media Finance businesses. The stock price climbed 38 cents to close at $2.25.
Shares of Las Vegas Sands (NYSE: LVS) climbed 48 cents to $3.49 after its chairman bought $23.2 million of its stock.
Metavante Technologies Inc. (NYSE: MV) was the target of a $2.94 billion all-stock offer by Fidelity National Information Services (NYSE: FIS) to form a banking and payments processing giant. Shares of Metavante soared $2.30 to $22.26 while Fidelity National Information Services lost 89 cents to $17.31.
