June 2009 Archives
Raser Technologies Inc. (NYSE: RZ) will sell $25.5 million worth of common stock and warrants to institutional investors through a registered direct offering. The stock price plunged $1.05 to close at $2.80.
EXCO Resources Inc. (NYSE: XCO) will sell a 50% stake in its Haynesville shale to BG Group for $1.3 billion. The stock price soared $1.80 to close at $12.92.
Novavax Inc. (Nasdaq: NVAX) will develop genetically engineered pandemic and seasonal flu vaccines for the Spanish government sending the stock price soaring 80 cents to $3.30.
American International Group Inc. (NYSE: AIG) sold off its credit card operations in Taiwan for an undisclosed amount. Shares of the insurer fell 18 cents to $1.15.
American International Group Inc. (NYSE: AIG) will sell its Russian consumer finance business to Peugeot. The insurer will also hold its annual meeting tomorrow when a new board will be elected. The stock price lost 13 cents to close at $1.33.
FBR Capital Markets analyst Luther Lu downgraded Alcoa Inc. (NYSE: AA) citing an oversupply of aluminum along with recent gains in Alcoa's stock price. The stock price fell 32 cents to close at $10.44.
Wendys/Arby's Group Inc. (NYSE: WEN) received a favorable write-up in Barron's to lift the stock price 38 cents to close at $4.01.
J.P. Morgan upgraded TRW Automotive Holdings Corp. (NYSE: TRW) and lifted its priced target for the automotive parts supplier after TRW amended its credit agreement. The stock price leaped $2.10 to $11.10.
Rite Aid Corp. (NYSE: RAD) refinanced a $145 million loan and a $1.75 billion credit facility sending the stock price up 23 cents to $1.47.
Shares of Chico's FAS Inc. (NYSE: CHS) tumbled $1.45 to close at $9.10 after the Commerce Department reported that consumers saved at the highest rate in 15-years.
Steelcase Inc. (NYSE: SCS) declared a quarterly dividend of 4 cents per share payable on July 17, 2009 to shareholders of record July 2, 2009 lifting the stock price 73 cents to close at $6.02.
Although KB Home (NYSE: KBH) narrowed second quarter losses to $1.03 per share from $3.30 per share in the year ago period, the results were worse than expected. Shares of the homebuilder dropped $1.17 to $13.60.
The Food and Drug Administration issued Immucor Inc. (Nasdaq: BLUD) a notice of intent to revoke the license for some blood reagents sending the stock price plunging $2.77 to $13.32.
Although Palm Inc. (Nasdaq: PALM) widened fourth quarter losses to 78 cents per share from 40 cents per share last year, the results were better than expected. Shares of the maker of smart phones surged $2.09 to $16.11.
Dress Barn Inc. (Nasdaq: DBRN) will acquire Tween Brands (NYSE: TWB) for approximately $157 million in stock. Shares of Dress Barn climbed $1.17 to close at $14.41 while Tween Brands stock soared $1.45 to close at $6.63.
Hertz Global Holdings Inc. (NYSE: HTZ) forecast second quarter and full year results ahead of analyst expectations sending the stock price up $1.12 to close at $8.13.
Although Lennar Corp. (NYSE: LEN) widened second quarter losses, new home sales and orders rose compared with the first quarter lifting shares of the homebuilder $1.37 to close at $9.19.
Insmed Inc. (Nasdaq: INSM) reported disappointing results from a Phase II clinical trial of its myotonic muscular dystrophy treatment IPLEX sending the stock price plummeting $1.29 to $1.04.
China Architectural Engineering Inc. (Nasdaq: CAEI) won a contract valued at over $500 million to develop and build a resort for the Shanghai Nine Dragon Co. The stock price leaped 77 cents to $2.05.
Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) announced upbeat results from a Phase III clinical trial of its fibromyalgia treatment sodium oxybate sending the stock price soaring $1.29 to $4.54.
Jefferies & Co. analyst Laurence Alexander widened his 2009 loss outlook for Huntsman Corp. (NYSE: HUN) and lowered his 2010 earnings forecast. Shares of the chemicals company dropped 63 cents to close at $5.29.
A judge ordered Republic Engineered Products to resume steel shipments to American Axle & Manufacturing Holdings Inc. (NYSE: AXL) sending the stock price up 40 cents to close at $3.20.
Supervalu Inc. (NYSE: SVU) blamed lower consumer spending amidst the recession for warning that first quarter earnings will fall far short of analyst estimates. Shares of the grocery store operator tumbled $1.94 to $13.75.
Actuant Corp. (NYSE: ATU) will raise capital to pay down debt through a public offering of 9 million common shares sending the stock price tumbling $1.98 to close at $12.53.
UBS Investment Research analyst Kevin Crissey cited continued weakness in air travel for lowering his estimate for US Airways Group Inc. (NYSE: LCC). The stock price fell 30 cents to close at $2.17.
Mechel Open Joint Stock Co.'s (NYSE: MTL) majority owner Igor Zyuzin used nearly 38% of company stock as collateral to borrow funds. Shares of the mining and steel company gained 83 cents to close at $8.51.
Boeing Co. (NYSE: BA) once again postponed the initial test flight of its next generation 787 jetliner saying that a section of the aircraft must be reinforced. The stock price tumbled $3.60 to $43.30.
Rambus Inc. (Nasdaq: RMBS) cut its second quarter revenue forecast and warned of higher litigation expenses sending the stock price tumbling $2.86 to $14.97.
Laboratory Corporation of America Holdings (NYSE: LH) will pay approximately $106.7 million to acquire Monogram Biosciences Inc. (Nasdaq: MGRM). Shares of Monogram more than doubled by leaping $2.83 to $4.51 while LabCorp stock eased 97 cents to $64.74.
Oncothyreon Inc. (Nasdaq: ONTY) launched a global Phase 3 clinical trial of the cancer vaccine Stimuvax sending the stock price soaring 75 cents to close at $3.03.
Rex Energy Corp. (Nasdaq: REXX) sold 50% of its stake in Marcellus shale to Williams (NYSE: N) for approximately $33 million. The stock price tumbled $1.14 to close at $4.70.
LodgeNet Interactive Corp. (Nasdaq: LNET) announced a $50 million offering of preferred convertible stock. The stock price plunged 99 cents to close at $3.55.
Level 3 Communications Inc. (Nasdaq: LVLT) signed an agreement to exchange cash and a new issue of senior convertible notes for part of an existing convertible subordinated notes and convertible senior notes held by institutional investors. The stock price climbed 20 cents to $1.40.
Medarex Inc. (Nasdaq: MEDX) indicated that its prostate cancer treatment showed promise sending the stock price up $1.17 to $8.53.
Cell Therapeutics Inc. (NYSE: CTIC) was listed among the top ten stock searches at TheStreet.com. The stock price gained 21 cents to close at $1.52.
Solutia Inc. (NYSE: SOA) raised approximately $103 million through the public offering of more than 20 million common shares. The stock price rose 67 cents to close at $5.78.
Ambac Financial Group Inc. (NYSE: ABK) postponed the launch of Everspan Financial Guarantee after failing to raise enough capital to achieve sufficient financial strength ratings. The stock price dropped 15 cents to $1.10.
The South Financial Group Inc. (Nasdaq: TSFG) will offer 75 million common shares at a discounted price of $1 per share sending the stock price down 26 cents to $1.10.
Liz Claiborne Inc. (NYSE: LIZ) warned that its loss for the second quarter would be wider than expected. The stock price plummeted $1.04 to close at $2.98.
Caterpillar Inc. (NYSE: CAT) reported that global sales plunged 43% in the quarter ended May sending the stock price down 72 cents to close at $34.08.
Shares of American Capital Ltd. (Nasdaq: ACAS) surged 80 cents to close at $3.27 over optimism that the company will be able to renegotiate the terms of its loans.
In lieu of contributing $83 million to its pension plan, YRC Worldwide Inc. (Nasdaq: YRCW) used real estate as collateral for the payment. Shares of the transportation services company fell 37 cents to $1.80.
Analysts upgraded National Penn Bancshares Inc. (Nasdaq: NPBC) sending the stock price soaring $1.41 to $5.01.
Although Carnival Corp. (NYSE: CCL) reported lower second quarter earnings of 33 cents per share compared with 49 cents per share in the year ago period, the results topped analyst estimates lifting the stock price $2.07 to $25.12.
Alvarion Ltd. (Nasdaq: ALVR) secured a five year $100 million contract to provide wireless broadband network service to Open Range Communications lifting the stock price 66 cents to close at $4.27.
Potash Corp. of Saskatchewan Inc. (NYSE: POT) will cut 2009 production by another 0.8 million metric tons making the total 2009 production reduction 5.5 million metric tons. The stock price plummeted $11.59 to close at $95.59.
Patriot Coal Corp. (NYSE: PCX) priced its offering of 12 million common shares at $7.90 per share sending the stock price down 91 cents to close at $7.10.
E-Trade Financial Corp. (Nasdaq: ETFC) will offer common stock to raise approximately $400 million. The stock price slipped 22 cents to $1.43.
A jury ruled that two patents owned by Star Scientific Inc. (Nasdaq: STSI) were not infringed upon by RJ Reynolds (NYSE: RAI). Shares of Star Scientific collapsed $3.09 to $1.12 while Reynolds stock rose 91 cents to $37.24.
A-Power Energy Generation Systems Ltd. (Nasdaq: APWR) disappointed with sharply lower first quarter earnings that fell short of expectations. The stock price plunged $3.12 to close at $9.97.
The Food and Drug Administration warned that use of Matrixx Initiatives' (Nasdaq: MTXX) Zicam Cold Remedy products may permanently damage a person's sense of smell sending the stock price plummeting $13.46 to close at $5.78.
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) expects shipments in the second quarter to surge 70% over the first quarter. The stock price climbed 88 cents to $14.04.
EMCORE Corp. (Nasdaq: EMKR) secured a contract valued at approximately $5 million to manufacture, test and deliver solar panels to NASA sending the stock price soaring 33 cents to $1.56.
Although Standard & Poor's raised its rating for Hartford Financial Services Group Inc. (NYSE: HIG), the stock price dropped $1.45 to close at $11.50.
Maguire Properties Inc. (NYSE: MPG) engaged in discussions with the special servicer to amend a commercial mortgage backed securities loan. The stock price surged 50 cents to close at $1.57.
Barclays Capital downgraded Lear Corp. (NYSE: LEA) sending the stock price down 35 cents to $1.58.
Cell Therapeutics Inc. (Nasdaq: CTIC) is on the shortlist for possible addition to the Russell 3000 Index and the Russell Global Index lifting the stock price 20 cents to $1.63.
Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) reported upbeat results from a late stage clinical trial of its fibromyalgia pain treatment sodium oxybate. The stock price leaped $2.04 to $4.68.
Satyam Computer Services Ltd.'s (NYSE: SAY) cost saving program to manage employees may affect up to 10,000 workers sending the stock price down 63 cents to close at $3.67.
Tenet Healthcare Corp. (NYSE: THC) purchased $891.4 million in senior notes and expects to buy as much as $1 billion in senior notes through an offering that ends June 25. Shares of the healthcare services firm fell 43 cents to close at $3.06.
Vulcan Materials Co. (NYSE: VMC) will offer 11.5 million common shares at $41.00 per share sending the stock price soaring $4.50 to close at $47.20.
Hartford Financial Services Group Inc. (NYSE: HIG) offered $750 million in a new stock offering while tapping the federal government for $3.4 billion in TARP funds. Shares of the insurer dropped $1.13 to close at $12.95.
An analyst upgraded high-end retailer Saks Inc. (NYSE: SKS) with the company's prospects tied to an eventual recovery of consumer spending. The stock price climbed 58 cents to close at $4.34.
An FDA memo reaffirmed the efficacy of a gout drug treatment developed by Savient Pharmaceutical Inc. (Nasdaq: SVNT), but identified other risks to patients. The stock price leaped $3.33 to close at $9.26.
Symantec Corp. (Nasdaq: SYMC) warned that profit margins will be pressured this year sending shares of the software security company down 57 cents to close at $15.88.
First Commercial Bank of Florida extended and expanded its agreement with Level 3 Communications Inc. (Nasdaq: LVLT) to provide Internet connectivity, data storage services and to connect all ten locations of the bank through a virtual private network. The stock price surged 32 cents to close at $1.65.
American Capital Ltd. (Nasdaq: ACAS) declared a quarterly dividend of $1.07 per share payable on August 7, 2009 to shareholders of record June 22, 2009 sending the stock price up 59 cents to close at $3.35.
The Food and Drug Administration approved Staar Surgical Co.'s (Nasdaq: STAA) injector system for use with implantable lenses to treat cataracts. The stock price leaped $1.26 to $2.75.
An analyst downgraded UnitedHealth Group Inc. (NYSE: UNH) citing unrealistic Medicare reimbursement goals to boost profits sending the stock price down $1.91 to $23.82.
Level 3 Communications Inc. (Nasdaq: LVLT) and Sprint Nextel Corp. (NYSE: S) engaged in early stage discussions to form a joint venture. Shares of Level 3 climbed 20 cents to close at $1.33 while Sprint stock eased 11 cents to close at $4.84.
News that Fiat completed its acquisition of Chrysler's assets lifted shares of auto parts suppliers Lear Corp. (NYSE: LEA) and American Axle & Manufacturing Holdings Inc. (NYSE: AXL). Shares of Lear soared 47 cents to close at $2.06 while American Axle stock surged 92 cents to close at $4.50.
Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) will present data from a Phase III clinical trial of its fibromyalgia treatment sodium oxybate. The stock price rocketed $2.85 to $3.87.
Callaway Golf Co. (NYSE: ELY) slashed its quarterly dividend payable on July 15 to shareholders of record June 26 from 7 cents per share to 1 cent per share. The stock price tumbled $1.36 to close at $5.92.
Quiksilver Inc. (NYSE: ZQK) agreed to a five year $150 million loan and entered into three year $200 million credit facility sending the stock price falling 71 cents to close at $2.91.
Satyam Computer Services Ltd. (NYSE: SAY) reported earnings of $33.5 million for the December quarter sending shares of the Indian informatin technology company soaring 87 cents to $3.59.
JMP Securities upgraded Marvell Technology Group Ltd. (Nasdaq: MRVL) saying that more smartphones are using its controller technology. The stock price soared $1.54 to $12.75.
Arena Pharmaceuticals Inc. (Nasdaq: ARNA) reported positive results from a late stage clinical trial of its obesity treatment lorcaserin sending the stock price soaring $1.00 to close at $4.94.
Standard & Poor's downgraded Ireland's long term credit rating sending shares of Allied Irish Banks (NYSE: AIB) tumbling 70 cents to close at $5.55.
William Blair & Co. analyst David Long expects Sallie Mae (NYSE: SLM) to continue servicing student loans even if the government takes over student lending. Shares of the student lender climbed $1.32 to close at $7.93.
XOMA Ltd. (Nasdaq: XOMA) presented new upbeat results from Phase 1 studies of its Type 2 diabetes medication lifting shares of the biopharmaceutical up $1.20.
Keryx Biopharmaceuticals Inc. (Nasdaq: KERX) reported positive results for a Phase 2 clinical trial of its end-stage renal disease treatment Zerenex. The stock price climbed 21 cents to $1.29.
The FDA approved a pulmonary embolism device to be made by Angiotech Pharmaceuticals Inc. (Nasdaq: ANPI) sending the stock price soaring 65 cents to $2.35.
Rite Aid Corp. (NYSE: RAD) reported a 0.6% increase in same store sales for May as pharmacy sales rose. Shares of the retail drugstore operator gained 27 cents to close at $1.66.
RBC Capital Markets upgraded KeyCorp (NYSE: KEY) from sector perform to top pick sending the stock price up 80 cents to $5.40.
Novavax Inc. (Nasdaq: NVAX) will work with the National Institutes of Health to evaluate a virus-like particle vaccine against the swine flu, influenza A (H1N1), virus. Shares of the biopharmaceutical jumped $1.00 to $2.87.
Angiotech Pharmaceuticals Inc. (Nasdaq: ANPI) entered a license, distribution and supply agreement for Haemacure's proprietary fibrin and thrombin technology. The stock price climbed 34 cents to close at $1.89.
JetBlue Airways Corp. (Nasdaq: JBLU) announced plans to sell 20 million shares of common stock and $150 million in convertible debentures. Shares of the airliner dropped 74 cents to close at $4.29.
Dynavax Technologies Corp. (Nasdaq: DVAX) reported upbeat Phase III results for its hepatitis B vaccine Heplisav sending the stock price soaring 45 cents to close at $1.86.
TiVo Inc. (Nasdaq: TIVO) was awarded $103 million in a patent infringement case against Dish Network Corp. (Nasdaq: DISH). Shares of TiVo leaped $3.43 to $10.41 while Dish Network stock fell $1.72 to $15.52.
Valero Energy Corp. (NYSE: VLO) announced a public offering of 40 million common shares. Meanwhile, the company lowered guidance to a likely second quarter loss sending the stock price tumbling $4.01 to $18.37.
Shares of Antigenics Inc. (Nasdaq: AGEN) soared $1.25 to $2.78 after the drug research company reported positive results for its treatment of patients with kidney cancer.
Cardinal Health Inc. (NYSE: CAH) will increase its quarterly dividend to 17.5 cents per share from 14 cents per share payable on July 15, 2009 to shareholders of record July 1, 2009 sending the stock price tumbling $3.96 to close at $32.60.
Quantum Corp. (NYSE: QTM) extended the deadline for its tender offer of convertible subordinated notes. Shares of the storage solutions company tumbled 21 cents to close at 96 cents.
ProLogis (NYSE: PLD) declared a dividend of $1.0675 per Series C preferred share payable on June 30, 2009 to shareholders of record June 15, 2009. The stock price slipped 76 cents to close at $8.50.
Morgan Keegan upgraded SunTrust Banks Inc. (NYSE: STI) due to its attractive valuation lifting the stock price up $1.43 to $15.23.
J.P. Morgan upgraded Continental Airlines Inc. (NYSE: CAL) citing declines in the airliner's stock price. The stock price climbed $1.06 to $11.11.
UBS analyst Michael Morris upgraded CBS Corp. (NYSE: CBS) lifting the stock price $1.36 to close at $8.74.
Merge Healthcare Inc. will acquire Etrials Worldwide Inc. (Nasdaq: ETWC) in a cash and stock deal valued at approximately $18.3 million. Shares of Etrials soared 43 cents to close at $1.70.
Colonial BancGroup Inc. (NYSE: CNB) founder and chief executive Robert E. Lowder will retire after completing the capital infusion deal with Taylor Bean & Whitaker Mortgage Corp. The stock price lost 13 cents to $1.17.
Celldex Therapeutics Inc. (Nasdaq: CLDX) announced upbeat results from two Phase 1 clinical studies of its cancer treatment CDX-1307 sending the stock price soaring $2.69 to $11.71.
PMI Group Inc.'s (NYSE: PMI) Amended and Restated Credit Agreement came into effect after the company satisfied all necessary conditions. The stock price surged 80 cents to $2.54.
