October 2009 Archives
The Securities and Exchange Commission initiated an investigation of Zale's (NYSE: ZLC) accounting practices sending the stock price plummeting $1.66 to close at $4.73.
GFI Group Inc. (Nasdaq: GFIG) blamed a drop in trading volume for third quarter earnings that fell short of expectations. The stock price plunged $1.51 to close at $5.15.
Although Novatel Wireless Inc. (Nasdaq: NVTL) reported third quarter earnings of 20 cents per share that surpassed expectations by a wide margin, the company forecast disappointing fourth quarter results sending the stock price plummeting $3.29 to $8.90.
Fourth quarter earnings for Conexant Systems Inc. (Nasdaq: CNXT) leaped to 47 cents per share from 2 cents per share in the year ago period despite lower revenue as the company cut expenses and sold a business. Shares of the chip maker rose 32 cents to $2.76.
Audio equipment maker Harman International Industries Inc. (NYSE: HAR) posted lower revenues and a smaller quarterly loss of 14 cents per share compared with a loss of 36 cents per share last year that beat expectations. The stock price surged $5.72 to $38.72.
CIT Group Inc. (NYSE: CIT) rejected billionaire investor Carl Icahn's loan offer to secure a new $4.5 billion credit facility sending the stock price down 11 cents to close at 95 cents.
Central Pacific Financial Corp. (NYSE: CPF) reported a record quarterly loss of $6.38 per share due to charges compared with income of 11 cents per share in the year ago period. The stock price plunged 83 cents to close at $1.52,
American Superconductor Corp. (Nasdaq: AMSC) reversed year ago losses of 10 cents per share to post a better than expected profit for the second quarter of 10 cents per share and lifted its guidance for the full year. The stock price leaped $6.50 to close at $35.34.
Bank of America-Merrill Lynch upgraded Genworth Financial (NYSE: GNW) sending the stock price climbing $1.13 to $9.82.
First Solar Inc. (Nasdaq: FSLR) announced higher revenues and profits, but the results missed expectations. Analysts promptly downgraded shares of the nation's largest solar panel maker sending the stock price plummeting $25.94 to $125.64.
Garmin Ltd. (Nasdaq: GRMN) stock plunged $6.19 to close at $31.59 after a competitor warned that product prices are falling and Google (Nasdaq: GOOG) entered the navigation market. Google stock dropped $7.99 to close at $540.30.
StemCells Inc. (Nasdaq: STEM) will sell approximately 10 million shares of common stock to raise approximately $12.5 million sending the stock price down 25 cents to close at $1.17.
Quantum Corp. (NYSE: QTM) reversed year ago losses to post a profit of 6 cents per share for the second quarter even as revenue slipped. The stock price tumbled 35 cents to close at $1.98.
The Securities and Exchange Commission initiated an informal probe of Apollo Group Inc.'s (NYSE: APOL) accounting practices sending the stock price plummeting $13.09 to $59.88.
Illumina Inc. (Nasdaq: ILMN) reversed year ago losses of 8 cents per share to post a profit of 12 cents per share but the results fell short of estimates and the genetic analysis instrument maker forecast disappointing fourth quarter income. The stock price plunged $8.07 to $33.59.
Although third quarter earnings for Psychiatric Solutions Inc. (Nasdaq: PSYS) rose to 50 cents per share from 47 cents per share in the year ago period, the results fell short of expectations sending the stock price plummeting $6.08 to $18.07.
While third quarter earnings for Textron Inc. (NYSE: TXT) plummeted to a penny per share from 83 cents per share last year, the results topped estimates. The stock price gained $1.31 to close at $19.67.
Three analysts cited PrivateBancorp's (Nasdaq: PVTB) loss for the third quarter for lowering their price targets for the stock sending shares tumbling $2.33 to close at $9.65.
Scientific Games Corp. (Nasdaq: SGMS) posted lower revenues and modest profits of 16 cents per share compared with 23 cents per share in the year ago period. Investors remained worried about the outlook for the gaming industry. The stock price plunged $3.85 to close at $13.85.
Carter's Inc. (NYSE: CRI) delayed the release of its third quarter earnings. The stock price plunged $6.80 to $21.64.
Patriot Coal Corp. (NYSE: PCX) reported higher third quarter revenue and said that demand surged sequentially from the second quarter to the third quarter sending the stock price soaring $1.74 to $12.93.
Shares of medical device maker ev3 Inc. (Nasdaq: EVVV) climbed $1.13 after posting profits that topped estimates and raised its full-year outlook.
Wunderlich downgraded Synovus Financial Corp. (NYSE: SNV). The stock price dropped 43 cents to close at $2.49.
FiberTower Corp. (Nasdaq: FTWR) announced an exchange offer for its outstanding convertible senior notes. The stock price plummeted 68 cents to close at 73 cents.
ION Geophysical Corp. (NYSE: IO) announced a joint venture with BGP to provide seismic data for petroleum prospects based on land. The stock price climbed $1.05 to $4.59.
Allied Capital Corp. (NYSE: ALD) will be acquired by Ares Capital in an all stock deal valued at approximately $648 million. The stock price soared 89 cents to $3.62.
BioCryst Pharmaceuticals Inc. (Nasdaq: BCRX) received FDA approval for its experimental drug to be used as emergency treatment for swine flu sending the stock price soaring 98 cents to $10.65.
MEMC Electronic Materials Inc. (NYSE: WFR) blamed plunging sales for swinging to a third quarter loss of 29 cents per share compared with income of 80 cents per share in the year ago period. Shares of the silicon wafer maker dropped $1.56 to close at $13.87.
Third quarter earnings for Capital One Financial Corp. (NYSE: COF) rose to surpass analyst estimates sending the stock price soaring $2.62 to close at $40.95.
Bucyrus International Inc. (Nasdaq: BUCY) reported sharply higher third quarter earnings of $1.21 per share compared with 85 cents per share last year that beat expectations by a wide margin. Shares of the mining equipment maker leaped $5.83 to close at $48.36.
European regulators will review the multiple sclerosis drug Tysabri made by Elan (NYSE: ELN) and Biogen (Nasdaq: BIIB) after 23 reported cases of the brain infection progressive multifocal leukoencephalopathy. Shares of Elan tumbled $1.14 to $5.30 while Biogen stock dropped $2.47 to $44.76.
Synovus Financial (NYSE: SNV) posted a sizable loss of $1.27 per share compared with a loss of 12 cents per share last year and did not expect to return to profitability until late 2010. The stock price plunged 79 cents to $2.78.
Amazon.com Inc. (Nasdaq: AMZN) announced sharply higher profits of 45 cents per share compared with 27 cents per share a year earlier and offered an upbeat forecast for the upcoming holiday shopping season. Shares of the online retailer leaped $23.09 to $116.54.
Despite rising loan losses, PNC Financial Services Group Inc. (NYSE: PNC) reported sharply higher third quarter earnings of $1 per share compared with 70 cents per share last year. Shares of the bank surged $5.69 to close at $50.65.
F5 Networks Inc. (Nasdaq: FFIV) impressed with higher fourth quarter earnings of 36 cents per share compared with 24 cents per share a year earlier that topped estimates prompting upgrades. The stock price leaped $6.47 to close at $48.00.
The New York Times Company (NYSE: NYT) reported another slide in revenues and a loss due to one-time charges, but analysts noted a profit on a cashflow basis. The stock price surged $1.97 to close at $10.72.
NCR Corp. (NYSE: NCR) disappointed with lower than expected third quarter earnings of 9 cents per share compared with 49 cents per share a year earlier, cut its guidance for the year and announced job cuts. The stock price tumbled $1.52 to $10.70.
Korea National Oil Corp. will pay approximately $3.9 million for Harvest Energy Trust (NYSE: HTE). Analysts promptly upgraded Harvest Energy sending the stock price soaring $2.27 to $9.28.
Shares of TriQuint Semiconductor Inc. (Nasdaq: TQNT) plunged $2.10 to $6.00 after the chip maker posted lower third quarter revenues and profits and downgraded its fourth quarter targets.
United Airlines (Nasdaq: UAUA) reported a loss for the third quarter of 39 cents per share as revenue tumbled. Shares of the airliner fell 98 cents to close at $6.92.
Fannie Mae (NYSE: FNM) sold $3 billion worth of benchmark bills at higher interest rates than last week. The stock price rose 11 cents to close at $1.23.
Sallie Mae (NYSE: SLM) reversed year ago losses to post a better than expected profit of 25 cents per share compared with losses of 40 cents per share last year. The stock price surged $1.84 to close at $10.74.
American Airlines (NYSE: AMR) swung to a loss for the third quarter of $1.26 per share compared with income of 12 cents per share a year earlier as revenue plunged. Shares of the airliner tumbled 98 cents to $6.68.
The South Financial Group Inc. (Nasdaq: TSFG) warned of significant losses for the third quarter as loan loss provisions soared. The stock price plunged 42 cents to $1.01.
European regulators will issue a negative opinion of Antigenics' (Nasdaq: AGEN) cancer vaccine Oncophage sending the stock price plummeting 88 cents to $1.21.
While The Bank of New York Mellon Corp. (NYSE: BK) swung to a significant loss for the third quarter of $2.05 per share compared with income of 26 cents per share in the year ago period, the results were better than expected. The stock price climbed $1.67 to close at $28.90.
While third quarter earnings fell for Werner Enterprises Inc. (Nasdaq: WERN) to 26 cents per share from 31 cents per share last year, the results surpassed analyst estimates sending the stock price soaring $2.31 to close at $20.97.
Lexmark International Inc. (NYSE: LXK) posted lower revenues and a modest profit. The printer and copier maker also announced job cuts to trim costs. The stock price surged $3.59 to close at $26.16.
Boston Scientific Corp. (NYSE: BSX) returned to profitability in the third quarter with earnings of 13 cents per share compared with losses of 4 cents per share in the year ago period, but the medical device maker lowered its overall earnings and revenue outlook. The stock price tumbled $1.73 to $8.43.
The U. S. International Trade Commission ruled that Nokia did not infringe on InterDigital Inc.'s (Nasdaq: IDCC) patents prompting a downgrade. The stock price plummeted $4.50 to close at $19.94.
Sterne Agee upgraded Manitowoc Co. Inc. (NYSE: MTW) to a Buy rating sending the stock price up 88 cents to close at $11.54.
Energy XXI Ltd. (Nasdaq: EXXI) extended the expiration date of its exchange offer lifting the stock price 26 cents to close at $2.12.
Keefe, Bruyette & Woods said that Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) shares are most likely worthless. Shares of Freddie Mac fell 31 cents to $1.41 while Fannie Mae stock dropped 25 cents to $1.21.
Allion Healthcare Inc. (Nasdaq: ALLI) received a $6.60 cash bid from a private equity firm sending the stock price up $1.03 to $6.47.
Sprint Nextel Corp. (NYSE: S) offered $426 million in cash to buy affiliate iPCS (Nasdaq: IPCS). Shares of Sprint eased 3 cents to $3.44 while leaped $6.01 to $23.89.
Sensient Technologies Corp. (NYSE: SXT) reported lower third quarter earnings and cut its full year outlook sending the stock price tumbling $2.75 to close at $26.32.
While third quarter earnings for Valmont Industries (NYSE: VMI) surpassed analyst expectations, the company forecast lower sales in the fourth quarter sending the stock price plummeting $8.83 to close at $79.67.
Palomar Medical Technologies Inc. (Nasdaq: PMTI) and Johnson & Johnson (NYSE: JNJ) terminated their agreement to develop, test and market an over-the-counter wrinkle treatment for home use. Shares of Palomar plunged $2.30 to close at $12.96 while Johnson & Johnson stock eased 48 cents $60.46.
Shares of China Real Estate (Nasdaq: CRIC) surged $2.03 to $14.03 on its first day of trading.
Advanced Micro Devices Inc. (NYSE: AMD) disappointed with a third quarter loss of 18 cents per share compared with a loss of 22 cents per share last year as revenue fell sending the stock price down 45 cents to $5.74.
Sterling Financial Corp. (Nasdaq: STSA) agreed to a cease and desist order issued by the Federal Deposit Insurance Corp. The stock price tumbled 37 cents to close at $1.29.
Crown Holdings Inc. (NYSE: CCK) posted lower profits as food and drink packaging revenues fell. The stock price tumbled $2.33 to $26.88.
United Airlines (Nasdaq: UAUA) will offer non-stop flights between Pensacola and Washington Dulles International Airport twice a day beginning on February 11, 2010. Shares of the airliner rose 54 cents to close at $7.82.
Shares of MGIC Investment Corp. (NYSE: MTG) gained 91 cents to close at $7.48 ahead of its earnings release before market open on Friday.
Genworth Financial Inc. (NYSE: GNW) increased its board by two members to a total of 11 directors and declared a quarterly dividend of $0.65625 per Series A Cumulative Preferred Stock payable on December 1 to shareholders of record November 13. The stock price climbed $1.07 to close at $12.12.
Regulatory limitations prevent Minsheng Bank from acquiring a controlling stake in UCBH Holdings (Nasdaq: UCBH) sending the stock price down 14 cents to $1.01.
Conseco Inc. (NYSE: CNO) priced nearly $300 million in convertible senior notes to help shore up the insurer's balance sheet. The stock price leaped $1.37 to $6.36.
LDK Solar Co. Ltd.'s (NYSE: LDK) senior vice president of manufacturing Nicola Sarno resigned sending the stock price down 27 cents to $8.08.
Headwaters Inc. (NYSE: HW) announced a $280 million private placement of senior secured notes sending the stock price up 38 cents to close at $4.31.
Ocean Power Technologies Inc. (Nasdaq: OPTT) entered an engineering agreement with Lockheed Martin Corp. (NYSE: LMT) to develop wave power systems. Shares of Ocean Power leaped $2.40 to close at $7.72 while Lockheed Marting stock eased 32 cents to close at $74.10.
CIT Group Inc. (NYSE: CIT) announced that its chairman and CEO will resign at the end of the year sending the stock price tumbling 14 cents to 90 cents.
Pier 1 Imports Inc. (NYSE: PIR) surprised analysts after announcing same-store sales rising nearly 10% versus year-ago levels. The stock price climbed 61 cents to $5.02.
Wireless network gear maker Starent Networks Corp. (Nasdaq: STAR) was snapped up by Cisco Systems (Nasdaq: CSCO) in a $2.9 billion deal. Shares of Starent leaped $4.88 to $33.91 while Cisco stock edged up 10 cents to $23.88.
Ford Motor Co. (NYSE: F) increased its market share in Europe to more than 10% in September. Shares of the automaker rose 50 cents to close at $7.62.
Blackstone Group (NYSE: BX) announced plans to take eight companies public lifting the stock price $1.23 to close at $16.08.
MDRNA (Nasdaq: MRNA) reported that its UsiRNA reduced tumor growth in liver and bladder cancer models sending the stock price soaring 22 cents to close at $1.46.
Lenders to YRC Worldwide Inc. (Nasdaq: YRCW) extended certain credit provisions for the transportation services company lifting the stock price 44 cents to $4.52.
Depomed Inc. (Nasdaq: DEPO) announced disappointing late stage results for its hot flash drug candidate sending the stock price plunging $2.32 to $4.04.
Digital River Inc. (Nasdaq: DRIV), which provide online sales provider, lost its largest customer Symantec Corp. (Nasdaq: SYMC) which decided to take sales operations inhouse. Shares of Digital River plummeted $14.29 to $26.13 while Symantec stock slipped 16 cents to $16.47.
YRC Worldwide Inc. (NYSE: YRCW) announced that it capped its severance plan to twelve weeks of pay and will require nonunion employees to take eight hours off each month. The stock price dropped 55 cents to close at $4.08.
Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) will offer over 30 million shares of common stock in order to raise approximately $50 million. The stock price fell 27 cents to close at $1.50.
The FDA did not approve a colon cancer drug treatment developed by Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) sending the stock price tumbling $1.12 to close at $5.09.
The Food and Drug Administration advisory panel questioned the safety of Acorda Therapeutics Inc.'s (Nasdaq: ACOR) multiple sclerosis treatment Fampridine-SR.
Sunrise Senior Living Inc. (NYSE: SRZ) will sell 21 of its senior living communities to Brookdale Senior Living for approximately $204 million. The stock price leaped $1.15 to $4.45.
Shares of Scientific Learning Corp. (Nasdaq: SCIL) surged $2.31 to $5.71 after the for-profit school released preliminary revenue and profit forecasts that topped expectations.
WellPoint Inc. (Nasdaq: WLP) stock tumbled $2.94 to close at $44.72 after a nonpartisan budget analysis said that the healtcare reform bill will not increase the budget deficit.
Shares of Lennar Corp. (NYSE: LEN) climbed $1.21 to close at $14.39 over optimism that the $8,000 tax credit for first time home buyers will be extended.
Repros Therapeutics Inc. (Nasdaq: RPRX) will raise approximately $4.4 million through the sale of 3.5 million shares to institutional investors. The stock price tumbled 46 cents to $1.40.
Liz Claiborne Inc. (NYSE: LIZ) signed an exclusive deal to sell its namesake apparel at J. C. Penney Company Inc. (NYSE: JCP). Shares of Liz Claiborne surged $1.36 to $6.56 while J. C. Penney stock edged up 17 cents to $35.08.
Alcoa Inc. (NYSE: AA) posted a surprise third quarter profit of 8 cents per share even as worldwide demand for aluminum declined. Shares of other industry players like Century Aluminum (Nasdaq: CENX) joined the rally. Alcoa stock rose 31 cents to $14.51 while Century Aluminum stock climbed $1.04 to $10.69.
Goldman Sachs analyst Steven Kent upgraded Wyndham Worldwide Corp. (NYSE: WYN) for the company's decision to focus on its fee-for-service business rather than a timeshare business. The stock price climbed $1.21 to close at $17.47.
Shares of Verisk Analytics Inc. (Nasdaq: VRSK) surged $5.22 to close at $27.22 on its first day of trading.
Investors worried about dilution after Avis Budget Group Inc. (NYSE: CAR) announced a $250 million convertible note offering. The stock price fell 78 cents to close at $12.50.
Labopharm Inc.'s (Nasdaq: DDSS) active pharmaceutical ingredient supplier resolved manufacturing deficiencies with the Food and Drug Administration sending the stock price soaring 50 cents to $1.86.
According to Bloomberg, China's Minsheng Bank plans to increase its stake in UCBH Holdings Inc. (Nasdaq: UCBH) from its current 9.6% to at least 50%. The stock price rose 15 cents to $1.31.
AirTran Holdings Inc. (NYSE: AAI) offered $75 million in convertible senior notes and 9 million shares of stock sending the stock price tumbling $1.06 to $5.08.
Despite disappointing results from one late stage clinical trial, Acadia Pharmaceuticals (Nasdaq: ACAD) and Biovail will continue development of its Parkinson's disease drug pimavanserin. The stock price rose 25 cents to close at $1.90.
NutriSystem Inc. (Nasdaq: NTRI) announced that its 14-Day introductory weight loss program will be available at Wal-Mart (NYSE: WMT) stores nationwide. Shares of NutriSystem soared $2.41 to close at $17.46 while Wal-Mart stock edged up 42 cents to close at $49.48.
Shares of Fonar Corp. (Nasdaq: FONR) leaped $1.04 to close at $3.19 after the medical scanner maker posted higher revenues and a return to profitability.
Medical device maker St. Jude Medical Inc. (NYSE: STJ) lowered its third quarter outlook sending the stock price plummeting $4.04 to $34.20.
Avocent Corp. (Nasdaq: AVCT) received a $1.2 billion cash bid from Emerson Electric Co. (NYSE: EMR) further consolidating the data storage industry. Shares of Avocent leaped $4.32 to $24.84 while Emerson stock edged up 49 cents to $39.17.
Vonage Holdings Corp. (NYSE: VG) introduced cheap international calling applications for the Blackberry and iPhone lifting the stock price 22 cents to $1.54.
Shares of AVI BioPharma Inc. (Nasdaq: AVII) surged 40 cents to $1.96 after the company received a Department of Defense contract worth up to $45 million to develop drugs to treat virus infections.
KBW analyst Jefferson Harralson upgraded BB&T Corp. (Nasdaq: BBT) to Outperform. The stock price rose $1.18 to close at $26.71.
Shares of A123 Systems Inc. (Nasdaq: AONE), which recently completed an initial public offering, climbed $3.16 to close at $25.77.
Oncolytics Biotech Inc. (Nasdaq: ONCY) received an FDA nod to proceed with phase 3 trial of its head and neck cancer treatment sending the stock price soaring 60 cents to close at $3.54.
Shares of EnteroMedics Inc. (Nasdaq: ETRM) collapsed $3.25 to $1.23 after the company reported disappointing preliminary results for obesity treatment.
CIT Group Inc. (NYSE: CIT) reached a preliminary agreement to shed debt and to give up 93% of the company to bondholders. The stock price soared 23 cents to $1.29.
Comcast Corp. (Nasdaq: CMCSA) denied reports that it agreed to acquire NBC Universal sending the stock price down $1.21 to close at $15.67.
Shares of E-Trade Financial Corp. (Nasdaq: ETFC) dropped 15 cents to close at $1.60 after Sandler O'Neill Partners analyst Richard Repetto said that September online trading will be lower than last year.
Shares of Talecris Biotherapeutics (Nasdaq: TLCR) climbed $2.15 to close at $21.15 on its first day of trading.
United Airlines parent UAL (Nasdaq: UAUA) will offer 19 million common shares and $175 million in senior convertible notes. The stock price tumbled $1.34 to $7.88.
Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) reported that its neurological disorder treatment Droxidopa demonstrated significant improvement in patients sending the stock price soaring 58 cents to $3.09.
