December 2009 Archives

MarketWatch's John Dvorak does not expect Dell Inc. (Nasdaq: DELL) to do well next year and placed the company on his loser list for 2010 sending the stock price tumbling 43 cents to close at $14.36.

Investors locked in profits on Origin Agritech Limited (Nasdaq: SEED). Shares of the biotech firm soared yesterday after completing a debt repurchase agreement. The stock price fell $1.03 to close at $11.77.

Wells Fargo & Co. (NYSE: WFC) will not award cash bonuses to its top executives in 2009. Instead, the bank will offer stock grants that vest after three years. The stock price rose 39 cents to $27.21.

Biodel Inc. (Nasdaq: BIOD) submitted a new drug application for its diabetes treatment VIAject to the Food and Drug Administration lifting the stock price 22 cents to $4.35.

China BAK Battery Inc. (Nasdaq: CBAK) dispelled rumors that Google Inc. (Nasdaq: GOOG) had selected the company to provide lithium polymer batteries for the Nexus One. Shares of China BAK tumbled 87 cents to close at $2.77 while Google stock gained $3.33 to close at $622.73.

Thornburg Global Opportunities Fund co-manager Brian McMahon cited the need for businesses to upgrade their computers, which has been delayed due to the recession, for selecting Dell Inc. (NYSE: DELL) as a top stock pick. The stock price rose 47 cents to close at $14.79.

Keryx Biopharmaceuticals Inc. (Nasdaq: KERX) was named as one of three PowerRatings Stocks by TradingMarkets.com sending the stock price up 32 cents to close at $2.65.

Shares of Fannie Mae (NYSE: FNM) lost 9 cents to $1.16 and Freddie Mac (NYSE: FRE) fell 12 cents to $1.38 as investors locked in profits. The two mortgage giants surged after the government lifted financial assistance caps last week.

Shares of OSI Systems Inc. (Nasdaq: OSIS), which makes explosive materials detection equipment, continued to rise by gaining $1.62 to $26.68 over expectations that its technology will be in demand after the failed Christmas Day attempted bombing.

McMoRan Exploration Co. (NYSE: MMR) reported progress on its Gulf of Mexico exploration activities lifting the stock price 54 cents to close at $8.45.

Briefing.com reported rumors that Google Inc. (Nasdaq: GOOG) plans to use China BAK Battery's (Nasdaq: CBAK) lithium polymer battery in its Nexus One phone. Shares of Google fell $3.47 to close at $619.40 while China BAK stock surged $1.41 to close at $3.64.

Rite Aid Corp. (NYSE: RAD) introduced its new Rite Weight Plan in partnership with fitness expert Denise Austin and weight control program Lindora sending the stock price up 9 cents to $1.51.

Sunesis Pharmaceuticals Inc. (Nasdaq: SNSS) regained compliance to be listed on Nasdaq but the stock price slipped 13 cents to close at $1.15.

A safety review board recommended that Vical Inc. (Nasdaq: VICL) continue a late stage clinical trial of its melanoma treatment Allovectin-7. The stock price surged 61 cents to close at $3.36.

Private equity firm Thoma Bravo will acquire Amicas Inc. (Nasdaq: AMCS) in an all cash deal valued at approximately $217 million sending the stock price soaring $1.05 to close at $5.47.

The Treasury Department decision to provide Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) with unlimited capital for the next three years lifted shares of the mortgage finance firms. Fannie Mae stock rose 18 cents to $1.23 while shares of Freddie Mac climbed 25 cents to $1.51.

Shares of American Airlines parent AMR Corp. (NYSE: AMR) lost 40 cents to $7.74, Delta Air Lines Inc. (NYSE: DAL) dropped 53 cents to $11.24, and United Air Lines parent UAL Corp. (NYSE: UAUA) fell 40 cents to $12.69 over concerns that new security measures introduced at airports after a failed attempt to blow up an airplane will curtail air travel.

Fannie Mae (NYSE: FNM) chief executive Michael Willams and Freddie Mac (NYSE: FRE) chief executive Charles Haldeman Jr. may each receive up to a $6 million pay package for 2009. Fannie Mae stock held steady at $1.05 while Freddie Mac stock lost 5 cents to close at $1.26.

Alcoa Inc. (NYSE: AA) entered a joint venture with Saudi Arabia Mining Company to develop, construct and operate a mine and refinery in the Saudi Arabia. The stock price rose 34 cents to close at $16.34.

Speculation that Apple Inc. (Nasddaq: AAPL) will unveil it tablet touch screen computer in San Francisco in January lifted shares of the company $6.94 to close at $209.04.

Shares of Jackson Hewitt Tax Service (NYSE: JTX) plunged $1.24 to $4.60 over Pacific Capital Bancorp's (Nasdaq: PCBC) announcement that it will sell its tax unit to a private equity fund. Pacific Capital's tax unit was going to offer nearly 75% of Jackson Hewitt's financial products. Pacific Capital stock rose 13 cents to $1.18.

General Steel Holdings Inc. (NYSE: GSI) will sell nearly 5.6 million common shares and warrants to purchase more than 2.7 million common shares to raise approximately $25 million sending the stock price down $1.13 to $4.66.

The Food and Drug Adminstration accepted Questcor Pharmaceuticals Inc.'s (Nasdaq: QCOR) filing to market it infantile spasm treatment Acthar and will make a decision by June 11, 2010. The stock price soared 89 cents to $5.21.

Tonight is the deadline for YRC Worldwide Inc.'s (Nasdaq: YRCW) debt for equity exchange. Participation in the exchange has been disappointing. Shares of the transportation services firm tumbled 19 cents to close at $0.95.

pSivida Corp. (Nasdaq: PSDV) reported positive results from two late stage clinical trials of its diabetic macular edema treatment lluvien sending the stock price soaring $1.48 to close at $5.00.

Cintas Corp. (Nasdaq: CTAS) reported lower second quarter earnings of 37 cents per share compared with 47 cents per share in the year ago period and revenue that fell short of estimates and warned that it may miss third quarter earnings expectations. The stock price plunged $3.33 to $26.35.

Compugen Ltd. (Nasdaq: CGEN) entered a predictive discovery collaboration agreement with Pfizer (NYSE: PFE) allowing Pfizer the right to license and develop three drugs of intererst to Pfizer. Shares of Compugen leaped $2.10 to $4.94 while Pfizer stock edged up 9 cents to $18.70.

Shares of China Infrastructure Investment Corp. (Nasdaq: CIIC) surged $1.57 to close at $3.32.  The company constructed and operates a major toll road and gas stations in China.

Shares of Commercial Metals Co. (NYSE: CMC) fell 94 cents to close at $16.23 after the steel making and distribution company posted a quarterly loss of 28 cents per share compared with earnings of 49 cents per share in the year ago period.

American International Group Inc. (NYSE: AIG) placed on hold plans to sell up to a 20% stake in its property and casualty unit Chartis. The stock price climbed $2.66 to $30.72.

Amkor Technology Inc. (Nasdaq: AMKR) cited better than expected demand for lifting its revenue guidance for the fourth quarter. The stock price climbed 89 cents to $7.40.

Private equity firm 72 Mobile Holdings will acquire Airvana (Nasdaq: AIRV) in a deal valued at approximately $530 million sending the stock price soaring $1.35 to close at $7.59.

LDK Solar Co. Ltd. (NYSE: LDK) modified its offering to approximately 16.5 million American Depository Shares to raise $108 million sending the stock price down 99 cents to close at $6.85.

Although Take-Two Interactive (Nasdaq: TTWO) widened fourth quarter losses to 28 cents per share from 20 cents per share in the year ago period, investors expect current quarter revenue to top estimates. The stock price rose 90 cents to $9.15.

Oracle (Nasdaq: ORCL) reported higher second quarter earnings of 29 cents per share compared with 25 cents per share in the year ago period that beat expectations due to favorable exchange rates. Shares of the enterprise software company climbed $1.50 to $24.38.

Research in Motion Ltd. (Nasdaq: RIMM) impressed with higher third quarter earnings of $1.10 per share compared with 69 cents per share last year that topped analyst estimates as sales surged prompting upgrades. Shares of the BlackBerry maker soared $6.54 to $70.00.

Discover Financial Services (Nasdaq: DFS) disappointed with lower fourth quarter earnings of 63 cents per share compared with 89 cents per share in the year ago period as credit card loan losses rose. Shares of the credit card company tumbled $1.50 to close at $14.92.

Anadys Pharmaceuticals Inc. (Nasdaq: ANDS) reported upbeat results from a midstage clinical trial of its hepatitis C treatment ANA598 but the stock price dropped 34 cents to close at $2.60.

LDK Solar Co. Ltd. (NYSE: LDK) will sell convertible preferences shares and may sell assets to avoid a cash crunch. The stock price tumbled $1.01 to $8.19.

Rite Aid Corp. (NYSE: RAD) narrowed losses for the third quarter to 10 cents per share from 30 cents per share a year earlier as the pharmacy chain lowered expenses and increased sales. The stock price rose 15 cents to $1.49.

A surge in new home construction lifted shares of Hovnanian Enterprises Inc. (NYSE: HOV) 43 cents to close at $4.23 and Beazer Homes USA Inc. (NYSE: BZH) 60 cents to close at $5.09.

Morgan Stanley upgraded ReneSola Ltd. (NYSE: SOL) lifting the stock price 40 cents to close at $4.90.

Genetic sequencing company Helicos BioSciences Corp. (Nasdaq: HLCS) raised $6.4 million by issuing new shares at $1 each sending the stock price plummeting 42 cents to close at $0.95.

Fannie Mae (NYSE: FNM) sold $1 billion worth of five-year notes after reopening an existing issue. The stock price dropped 12 cents to $1.06.

Investment research firm Emerging Stock Report initiated coverage on Delta Petroleum Corp. (Nasdaq: DPTR) sending the stock price surging 24 cents to $1.30.

Mad Money's Jim Cramer recommended Fluor Corp. (NYSE: FLR) citing the company's significant backlog. The stock price climbed $2.95 to close at $43.48.

Best Buy Co. Inc. (NYSE: BBY), the nation's largest electronics retailer, posted higher third quarter profits of 53 cents per share compared with 13 cents per share in the year ago period, but warned that margins may be squeezed during this holiday shopping season. The stock price plunged $3.84 to close at $41.53.

Amgen Inc. (Nasdaq: AMGN) and Array BioPharma Inc. (Nasdaq: ARRY) will jointly develop a type 2 diabetes treatment. Shares of Array leaped 53 cents to close at $2.78 while Amgen stock fell $1.11 to close at $55.75.

Shares of JA Solar Holdings Co. Ltd. (Nasdaq: JASO) climbed 73 cents to close at $5.30 after Dreyfus Greater China Fund manager Hugh Simon said that China will reduce greenhouse emissions and support solar initiatives.

The Government Accountability Office upheld a protest submitted by BAE Systems and Navistar International Corp. (NYSE: NAV) challenging the Pentagon's selection of Oshkosh (NYSE: OSK) to build 23,000 vehicles for the Army. Shares of Navistar climbed $1.75 to close at $36.03 while Oshkosh stock plunged $4.64 to close at $36.32.

California Micro Devices Corp. (Nasdaq: CAMD) received a $103 million acquisition bid by On Semiconductor (Nasdaq: ONNN). California Micro Devices stock leaped $1.62 to close at $4.67 while On stock rose 40 cents to close at $8.51.

Citigroup Inc. (NYSE: C) will raise $20 billion through the sale of common shares and securities to repay the government. The stock price fell 25 cents to $3.70.

Shares of Sunesis Pharmaceuticals Inc. (Nasdaq: SNSS) rallied for a third day by rising 23 cents to $1.95 after the company reported upbeat clinical trial data for its cancer treatment Voreloxin last week.

XTO Energy Inc. (NYSE: XTO) was the target of a $31 billion all-stock offer by Exxon Mobil Corp. (NYSE: XOM). Shares of XTO surged $6.19 to $47.69 while Exxon stock tumbled $3.18 to $69.64.

Sunesis Pharmaceuticals Inc. (Nasdaq: SNSS) stock surged again by soaring 33 cents to close at $1.72 after the company reported upbeat clinical trial data for its cancer treatment Voreloxin earlier this week.

Sunesis Pharmaceuticals Inc. (Nasdaq: SNSS) stock surged again by soaring 33 cents to close at $1.72 after the company reported upbeat clinical trial data for its cancer treatment Voreloxin earlier this week.

Freddie Mac (NYSE: FRE) will sell $3.0 billion worth of bills lifting the stock price 14 cents to close at $1.26.

Shares of IMS Health Inc. (NYSE: RX) tumbled $1.43 to $19.93 on news that the Senate will add an amendment to the health care bill that prohibits drug companies from using pharmacy records to target sales pitches to doctors. IMS mines prescription data to sell to pharmaceuticals.

J. P. Morgan lifted its price target for Alcoa Inc. (NYSE: AA) sending the stock price up 92 cents to $14.42.

Shares of UAL Corp. (Nasdaq: UAUA) gained 83 cents to $11.00, AMR Corp. (NYSE: AMR) rose 53 cents to $7.57 and Continental Airlines Inc. (NYSE: CAL) climbed 93 cents to $17.17 as crude oil prices retreated.

American Axle & Manufacturing Holdings Inc. (NYSE: AXL) priced its offering of $425 million in senior secured notes sending the stock price down 40 cents to close at $7.01.

First quarter earnings for Pall Corp. (NYSE: PLL) climbed to 56 cents per share form 36 cents per share in the year ago period and the company forecast upbeat results for the full year. The stock price soared $2.69 to close at $34.08.

Gildan Activewear Inc. (NYSE: GIL) impressed with fourth quarter earnings that nearly doubled to 35 cents per share from 18 cents per share in the year ago period. Shares of the branded apparel maker climbed $2.36 to $22.40.

Gannett Co. Inc. (NYSE: GCI) affirmed the high end of its fourth quarter guidance, which is above analyst estimates, sending the stock price up 77 cents to $12.77.

Valassis Communications Inc. (NYSE: VCI) forecast 2010 results above expectations sending the stock price soaring $3.17 to close at $19.48.

Jackson Hewitt Tax Service Inc. (NYSE: JTX) narrowed second quarter losses to 68 cents per share from 78 cents per share in the year ago period and will expand into more Wal-Mart Stores Inc. (NYSE: WMT) stores than originally announced. Shares of Jackson Hewitt climbed 75 cents to close at $4.88 while Wal-Mart stock eased 6 cents to close at $54.07.

J. P. Morgan upgraded RealNetworks Inc. (Nasdaq: RNWK) saying that the company should receive a favorable ruling in its arbitration with VeriSign Inc. (NYSE: VRSN). Shares of RealNetworks soared 54 cents to close $3.99 while VeriSign stock fell 26 cents to close at $21.85.

The Men's Wearhouse Inc. (NYSE: MW) warned of losses for the fourth quarter sending the stock price down $1.97 to $19.87.

Dynavax Technologies Corp. (Nasdaq: DVAX) received approval to commence commercial production of its hepatitis B surface antigen at its German manufacturing facility lifting the stock price 30 cents to $1.58.

Resource Capital Corp. (NYSE: RSO) priced its offering of 10 million common shares at $4.50 per share. The stock price fell 55 cents ot close at $4.33.

Motorola Inc. (NYSE: MOT) unveiled a new ergonomic, light weight, handheld radio frequency identification reader sending the stock price up 49 cents to close at $8.62.

Kroger Co. (NYSE: KR) blamed the economy and pricing competition for swinging to a third quarter loss of $1.35 per share compared with earnings of 36 cents per share in the year ago period. The grocery chain also lowered its full year outlook sending the stock price tumbling $2.71 to $20.14. 

YRC Worldwide Inc. (Nasdaq: YRCW) will be replaced on the Dow Jones Transportation Average by Delta Air Lines Inc.  (NYSE: DAL). Shares of YRC dropped 13 cents to $1.01 while Delta stock slipped 24 cents to $9.92.

Talbots Inc. (NYSE: TLB) reversed year ago losses of $3.19 per share to post a profit of 26 cents per share for the third quarter. Separately, the women's apparel retailer announced that it will merge with BPW Acquisition Corp. sending the stock price soaring $1.40 to $8.61.

Shares of Synovus Financial Corp. (NYSE: SNV) continued to rise by gaining another 20 cents to close at $2.35 after FBR Capital Markets analyst Paul Miller upgraded the bank on Friday.

Allos Therapeutics Inc. (Nasdaq: ALTH) defended its lymphoma treatment Folotyn as rival Celgene (Nasdaq: CELG) prepared to launch its lymphoma drug Istodax which it acquired from Gloucester Pharmaceuticals. Shares of Allos dropped $0.74 to close at $5.88 while Celgene stock lost 44 cents to close at $55.53.

The Food and Drug Administration determined that Somaxon Pharmaceuticals Inc.'s (Nasdaq: SOMX) insomnia treatment Silenor failed to meet approval standards in its present form. The stock price plummeted $2.12 to close at $1.41.

A Barron's article over the weekend said that Sprint Nextel Corp. (NYSE: S) stock was undervalued by as much as 50% sending the stock price up 36 cents to $4.05.

New York Community Bancorp Inc. (NYSE: NYB) announced plans to offer 60 million common shares lifting the stock price 97 cents to $13.30.

Falling gold prices weighed down shares of Goldcorp (NYSE: GG) $2.88 to close at $42.27.

DuPont (NYSE: DD) delayed the release of its Pioneer Hi-Bred line of corn hybrids and soybean products sending the stock price tumbling $2.49 to close at $32.34.

Third quarter earnings for Big Lots Inc. (NYSE: BIG) more than doubled to 37 cents per share from 15 cents per share in the year ago period prompting the closeout retailer to boost its fourth quarter outlook. The stock price surged $4.54 to close at $28.08.

An appeals court ruled that more environmental analysis must be conducted at the site of Barrick Gold Corp.'s (NYSE: ABX) Cortez Hills project. The stock price plunged $4.47 to $42.37.  

Take-Two Interactive Software Inc. (Nasdaq: TTWO) cut its forecast for the third and fourth quarters and warned of greater than expected losses for the full year prompting downgrades sending the stock price plummeting $3.18 to $7.74.

FBR Capital Markets analyst upgraded Synovus Financial Corp. (NYSE: SNV) saying that the stock price has plunged 61% over the last three months. Shares of the bank holding company climbed 30 cents to $2.08.

Family Dollar Stores Inc. (NYSE: FDO) reported a modest rise in same store sales but revenue fell short of estimates sending the stock price tumbling $2.31 to close at $28.42.

The Office of the Commissioner of Insurance for the State of Wisconsin temporarily waived minimum capital requirements for MGIC (NYSE: MTG) until December 31, 2011. Shares of the mortgage insurer rose 38 cents to close at $4.63.

Principal Financial Group Inc. (NYSE: PFG) provided earnings outlook for 2010 that fell short of expectations sending the stock price plunging $3.46 to $22.52.

Although Aeropostale Inc. (NYSE: ARO) reported higher third quarter earnings of 92 cents per share compared with 63 cents per share that topped estimates, the retailer's fourth quarter outlook disappointed. The stock price plunged $3.64 to $29.06.

Bank of America Corp. (NYSE: BAC) announced that it will repay the entire $45 billion it received from the government bailout sending the stock price up 48 cents to $16.14.

The Food and Drug Administration granted Keryx Biopharmaceuticals Inc. (Nasdaq: KERX) fast track status for its cancer drug Perifosine sending the stock price up 37 cents to close at $3.02.

Shares of video game retailer GameStop Corp. (NYSE: GME) tumbled $1.97 to close at $21.87 after Wal-Mart Stores Inc. (NYSE: WMT) cut prices on the top 25 video games. Wal-Mart stock slipped 18 cents to close at $54.57.

The National Institutes of Health cleared thirteen new stem cell lines for research sending shares of StemCells Inc. (Nasdaq: STEM) soaring 40 cents to close at $1.48 and Geron Corp. (Nasdaq: GERN) climbing 76 cents to close at $6.20.

Morgan Stanley upgraded United Air Lines parent UAL Corp. (Nasdaq: UAUA) and American Airlines parent AMR Corp. (NYSE: AMR). Shares of UAL rose 89 cents to $9.15 while AMR stock gained 44 cents to $6.73.

Dyax Corp. (Nasdaq: DYAX) announced that the Food and Drug Administration approved its hereditary angioedema treatment Kalbitor sending shares of the biopharmaceutical soaring 74 cents to $4.24.

SandRidge Energy will pay approximately $800 million for the Permian Basin properties of Forest Oil Corp. (NYSE: FST) sending the stock price up $1.83 to close at $20.15.

Morgan Stanley upgraded Tata Motors Ltd. (NYSE: TTM) saying that the company's recent acquisition of the Jaguar Land Rover business will become profitable in 2011. The stock price climbed $1.58 to close at $15.90.

Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) completed enrollment in one of the Phase 3 trials of the company's bladder cancer treatment apaziquone. The stock price gained 56 cents to close at $4.96.

Radian Group Inc. (NYSE: RDN) announced that mortgage delinquencies in October and November were lower than expected sending the stock price soaring 77 cents to $5.24.

Shares of Guess Inc. (NYSE: GES) surged $5.13 to $42.18 after the apparel retailer posted a profit and boosted its forecast. Analysts promptly upgraded the stock.