January 2010 Archives

Airgas Inc. (NYSE: ARG) reported sharply lower third quarter earnings of 56 cents per share compared with 76 cents per share last year that fell short of expectations as revenue dropped. The stock price plummeted $4.57 to close at $42.26.

Arch Coal Inc. (NYSE: ACI) blamed soft demand for sharply lower fourth quarter earnings of a penny per share compared with 44 cents per share a year earlier and forecast 2010 results below expectations. The stock price plunged $3.47 to close at $21.07.

Seanergy Maritime Holdings Corp. (Nasdaq: SHIP) priced its offering of more than 20 million common shares at $1.20 per share, a sharp discount over yesterday's closing price. Shares of the dry bulk carrier tumbled 60 cents to close at $1.20.

SanDisk Corp. (Nasdaq: SNDK) reversed year ago losses of $7.78 per share to post a profit for the fourth quarter of $1.45 per share that beat expectations by a wide margin but the flash memory maker offered a disappointing outlook. The stock price tumbled $3.07 to $25.71.

Yucheng Technologies Ltd. (Nasdaq: YTEC) swung to a fourth quarter loss of 28 cents per share from a profit of 24 cents per share a year earlier as revenue tumbled. The stock price plummeted $2.94 to $3.80.

US Airways Group Inc. (NYSE: LCC) narrowed losses for the fourth quarter to 49 cents per share from $4.76 per share in the year ago period even as revenue slipped. Shares of the airliner rose 28 cents to close at $5.14.

Although LSI Corp. (NYSE: LSI) swung to a profit for the fourth quarter of 10 cents per share compared with a loss of 94 cents per share last year, the company offered a disappointing forecast sending the stock price down 55 cents to close at $5.45.

Eastman Kodak Co. (NYSE: EK) reversed year ago losses of $3.42 per share to post its first profit in more than a year of $1.40 per share as revenue rose and margins improved. Shares of the company surged $1.17 to close at $5.92.

Motorola Inc. (NYSE: MOT) reversed year ago losses of $1.61 per share to post a profit for the first quarter of 6 cents per share but the company forecast disappointing phone sales for 2010. The stock price dropped 82 cents to $6.58.

While first quarter earnings for Qualcomm Inc. (Nasdaq: QCOM) more than doubled to 50 cents per share from 20 cents per share in the year ago period, the telecom forecast current quarter results below expectations sending the stock price plunging $6.70 to $40.50.

Fourth quarter earnings rose to 26 eurocents per share from 15 eurocents per share to top estimates for Nokia Corp. (NYSE: NOK) even as sales slipped. Shares of the world's largest handset maker gained $1.03 to $13.95.

Fitch Ratings lowered U. S. Steel Corp.'s (NYSE: X) rating to junk status saying that it will take the company a long time to return to profitability. The stock price tumbled $3.01 to close at $46.60.

Boeing Co. (NYSE: BA) swung to a profit of $1.75 per share compared with a loss of 12 cents per share last year that topped estimates as revenue climbed. Shares of the aircraft company soared $4.22 to close at $61.93.

US Airways Group Inc. (NYSE: LCC) is expected to post a fourth quarter loss when the airliner releases earnings tomorrow. The stock price fell 42 cents to $4.64.

Fourth quarter earnings for Caterpillar Inc. (NYSE: CAT) plunged to 36 cents per share from $1.08 per share a year earlier as revenue tumbled. Shares of the construction and mining equipment maker dropped $4.20 to $51.65.

Shares of Barnes & Noble Inc. (NYSE: BKS) climbed $2.32 to close at $19.70 over rumors that Apple's (Nasdaq: AAPL) new Tablet will offer a Barnes & Noble online store. Apple stock gained $2.87 to close at $205.94.

VMware Inc. (NYSE: VMW) reported fourth quarter earnings of 14 cents per share compared with 29 cents per share last year that surpassed expectations and forecast first quarter results ahead of estimates. Shares of the virtualization software maker surged $5.29 to close at $47.29.

Tellabs Inc. (Nasdaq: TLAB) reported sharply higher fourth quarter earnings of 16 cents per share compared with 3 cents per share a year earlier that topped estimates. The stock price rose 69 cents to close at $6.59.

While Regions Financial Corp. (NYSE: RF) narrowed fourth quarter losses to 51 cents per share from $9.01 per share a year earlier, loan loss provisions rose sending the stock price down 35 cents to $6.20.

United States Steel Corp. (NYSE: X) disappointed with its fourth quarterly loss in a row as revenue plunged. For the fourth quarter, the company lost $1.86 per share compared with a loss of $2.50 per share last year. The steel company warned of losses for the current quarter as well sending the stock price tumbling $5.18 to $51.05.

Activision Blizzard Inc. (Nasdaq: ATVI) is offering a free version of Call of Duty: World at War: ZOMBIES through the App Store for the iPhone and iPod touch. Shares of the video game publisher lost 24 cents to close at $10.12.

The Ticketmaster Entertainment Inc. (Nasdaq: TKTM) Live Nation Inc. (NYSE: LYV) merger was approved by the Justice Department with certain conditions to protect consumers by promoteing competition and lowering ticket prices. Shares of Ticketmaster surged $2.10 to close at $15.40 while Live Nation stock soared $1.35 to close at $10.51.

Medifast Inc. (NYSE: MED) said that fourth quarter as well as full year results will top estimates sending the stock price soaring $2.46 to $21.34.

AK Steel Holding Corp. (NYSE: AKS) reversed year ago losses of $3.87 per share to post a greater than expected profit of 36 cents per share for the fourth quarter lifting the stock price $1.12 to $21.31.

Poniard Pharmaceuticals Inc. (Nasdaq: PARD) will release more data on Monday from a Phase 2 clinical trial of its colorectal cancer treatment picoplatin sending the stock price soaring 47 cents to close at $2.61.

GenVec Inc. (Nasdaq: GNVC) reported that its advanced esophageal cancer treatment TNFerade increased median survival time when used in combination with chemoradiation. Shares of the biopharmaceutical leaped 60 cents to close at $2.99.

NRG Energy Inc. (NYSE: NRG) will replace Sun Microsystems Inc. (Nasdaq: JAVA) on the S&P 500 index after Oracle Corp. (Nasdaq: ORCL) completes its acquisition of Sun. Shares of NRG rose $1.29 to $25.29. Sun stock edged up a penny to $9.48 while Oracle stock lost 16 cents to $24.67.

Somaxon Pharmaceuticals Inc. (Nasdaq: SOMX) resubmitted its New Drug Application to the Food and Drug Administration for its insomnia treatment Silenor with a decision expected by March 21. The stock price more than doubled by soaring $1.37 to $2.69.

Shares of Bank of America Corp. (NYSE: BAC) fell $1.02 to close at $15.47, JP Morgan Chase & Co. (NYSE: JPM) dropped $2.86 to close at $40.54 and Citigroup Inc. (NYSE: C) lost 19 cents to close at $3.27 over the possibility of increased banking regulations.

A-Power Energy Generation Systems Ltd. (Nasdaq: APWR) closed an $83 million private placement. The stock price plunged $3.58 to close at $13.36.

Fifth Third Bancorp (Nasdaq: FITB) narrowed fourth quarter losses to 20 cents per share from $3.78 per share in the year ago period and posted a profit of 67 cents per share for the full year compared with a loss of $3.91 per share last year. The stock price rose $1.12 to $12.43.

Seagate Technology (Nasdaq: STX) reversed year ago losses of $5.80 per share to post a stronger than expected profit for the second quarter of $1.03 per shares as gross margin improved. Shares of the hard disk drive maker gained $1.72 to $19.48.

Strong  holiday sales lifted fourth quarter earnings for eBay (Nasdaq: EBAY) to $1.02 per share from 29 cents per share last year. The stock price climbed $1.91 to $24.14.

Fourth quarter earnings for State Street Corp. (NYSE: STT) nearly doubled to $1 per share from 54 cents per share a year earlier top estimates even as revenue slipped. The stock price gained $3.08 to close at $46.28.

Brinker International Inc. (NYSE: EAT) reversed year ago losses of 21 cents per share to post a better than expected profit of 18 cents per share for the second quarter. Shares of the owner of Chili's Grill & Bar climbed $1.95 to close at $17.26.

Second quarter earnings for Cree Inc. (Nasdaq: CREE) more than tripled to surpass expectations as revenue surged. Shares of the LED products maker leaped $8.67 to $62.88.

Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) reported positive results from a Phase II clinical trial of its diabetes treatment LX4211 lifting the stock price 33 cents to $2.30.

Samsung Electronics Co. Ltd. settled a lawsuit filed by Rambus Inc. (Nasdaq: RMBS) by agreeing to license Rambus technology. Rambus may potentially receive $900 million in the next five years. The stock price soared $2.97 to $24.10.

McMoRan Exploration (NYSE: MMR) narrowed fourth quarter losses to 11 cents per share from $4.46 per share in the year ago period as revenue rose. Shares of the petroleum producer gained $1.36 to close at $15.30.

Craig-Hallum Capital initiated coverage of LTX-Credence Corp. (Nasdaq: LTXC) with a Buy rating sending the stock price soaring 42 cents to close at $2.36.

Williams Companies Inc. (NYSE: WMB) announced a restructuring plan to combine its pipeline and processing systems, creating a vast nationwide partnership. The stock price climbed $1.64 to $23.01.

Brink's Home Security (NYSE: CFL) will be acquired by Tyco International (NYSE: TYC) in a cash and stock deal valued at approximately $2 billion. Shares of Brink's surged $9.97 to $41.39 while Tyco stock edged up 44 cents to $37.98.

Procter & Gamble Co. (NYSE: PG) partnered with PFSweb Inc. (Nasdaq: PFSW) to launch online shopping site eStore featuring P&G products. Shares of Procter & Gamble lost 76 cents to close at $60.82 while PFSweb stock more than doubled by leaping $2.03 to close at $3.78.

GenVec Inc. (Nasdaq: GNVC) reported 184 deaths in a Phase III clinical trial of its pancreatic cancer treatment TNFerade. Shares of the biopharmaceutical dropped 16 cents to close at $1.74.

Hersha Hospitality Trust (NYSE: HT) priced its offering of 45 million common shares at $3 per share sending the stock price up 21 cents to close at $3.53.

JP Morgan upgraded OfficeMax Inc. (NYSE: OMX) to lift the stock price 72 cents to $14.56.

Manitowoc Co. Inc. (NYSE: MTW) will sell approximately $400 million in senior unsecured notes in order to refinance some of its long term debt. The stock price rose 78 cents to $13.83.

The Federal Communications Commission granted TerreStar Corp. (Nasdaq: TSTR) authority to integrate it satellite and terrestrial communications network to enhance its mobile wireless services. The stock price rose 21 cents to close at $1.26.

Reuters reported that Germany will cut its solar incentives by 16% to 17% sending shares of JA Solar Holdings Co. Ltd. (Nasdaq: JASO) down 55 cents to close at $5.92, Trina Solar Ltd. (NYSE: TSL) tumbling $6.96 to close at $52.22 and Suntech Power Holdings Co. Ltd. (NYSE: STP) dropping $1.46 to close at $16.09.

Cell Therapeutics Inc. (Nasdaq: CTIC) will sell $30 million worth of preferred stock and warrants to purchase common shares to two institutional investors through a registered offering sending the stock price down 17 cents to $1.16.

MDRNA Inc. (Nasdaq: MRNA) will sell nearly 5.4 million common shares to raise approximately $5.5 million through a registered direct offering. The stock price dropped 34 cents to $1.05.

Barclays will pay approximately $25 million in cash to acquire the 700 New York Stock Exchange market maker assignments held by LaBranche & Co. Inc. (NYSE: LAB) sending the stock price soaring $1.24 to $4.02.

Synovus Financial Corp. (NYSE: SNV) has a presence in the warmer southeastern parts of the nation making it an attractive take-over target. Shares of the bank holding company rose 22 cents to close at $2.77.

American Capital Ltd.'s (Nasdaq: ACAS) wholly owned affiliate European Capital received euro 66.8 million from the sale three portfolio companies sending the stock price up 45 cents to close at $3.75.

Tesoro Corp. (NYSE: TSO) will begin maintenance work at its Los Angeles refinery today. The stock price lost 83 cents to $13.29.

Health Management Associates Inc. (NYSE: HMA) appointed Kelly E. Curry to the position of executive vice president and chief financial officer sending the stock price up 53 cents to $8.04.

Supervalu Inc. (NYSE: SVU) reversed year ago losses of $13.95 per share to post a profit for the third quarter of 51 cents per share as the grocery chain controlled costs. The stock price rose 75 cents to close at $13.67.

Illlumina Inc. (Nasdaq: ILMN) released preliminary fourth quarter revenue of $176 million that topped analyst estimates sending the stock price soaring $5.35 to close at $39.17.

Goldman Sachs upgraded MGM Mirage (NYSE: MGM) and lifted its price target for the company saying that the casino operator was undervalued. The stock price rose 79 cents to $11.69.

While Alcoa (NYSE: AA) narrowed fourth quarter losses to 28 cents per share from $1.49 per share in the year ago period, the results fell short of analyst expectations. Shares of the aluminum giant tumbled $1.87 to $15.59.

Mindray Medical International Ltd. (NYSE: MR) released higher preliminary full year the results sending the stock price soaring $2.96 to close at $39.50.

Achillion Pharmaceuticals Inc. (Nasdaq: ACHN) reported additional upbeat preliminary data from a Phase 1b study of its hepatitis C treatment ACH-1625. But the stock price dropped 34 cents to close at $3.05.

Cyclacel Pharmaceuticals Inc. (Nasdaq: CYCC) will raise approximately $7.2 million through a registered direct offering. Shares of the biopharmaceutical dropped 51 cents to $2.45.

McMoRan Exploration Exploration Co. (NYSE: MMR) discovered gas at its Davy Jones ultra-deep prospect in the Gulf of Mexico sending the stock price soaring $3.73 to $12.92.

Pacific Ethanol Inc. (Nasdaq: PEIX) reopened its ethanol plant in Burley, Idaho after sitting idle for nearly a year due to depressed market conditions. The stock price leaped $1.15 to $2.57.

DCT Industrial Trust (NYSE: DCT) signed 3.1 million square feet of leases in the fourth quarter. The stock price eased 25 cents to close at $5.19.

Lawson Software Inc. (Nasdaq: LWSN) will acquire Healthvision Solutions for approximately $160 million prompting a downgrade from Cowen & Co. analyst Peter Goldmacher. The company also forecast third quarter results below estimates. The stock price fell 58 cents to $6.41.

Soleil downgraded MetroPCS Communications Inc. (NYSE: PCS) sending the stock price down 51 cents to $7.01.

Somaxon Pharmaceuticals Inc. (Nasdaq: SOMX) reassured investors that it will continue working with the Food and Drug Administration in seeking approval of its insomnia medication Silenor. The stock price climbed 36 cents to close at $1.58.

Roth Capital initiated coverage of GenVec Inc. (Nasdaq: GNVC) with a Buy rating and set a price target of $4 on the stock lifting the stock price 27 cents to close at $1.71.

Abercrombie & Fitch Co. (NYSE: ANF) reported a sharp 19% drop in December same store sales sending the stock price tumbling $2.65 to $33.56.

GameStop Corp. (NYSE: GME) cut its earnings guidance for the fourth quarter as December same store sales tumbled due to continued weakness in the economy and product shortages. Shares of the video game products retailer plunged $3.82 to $20.22.

Lennar Corp. (NYSE: LEN) reported its first quarterly profit in nearly three years due to a tax benefit. The homebuilder earned 19 cents per share in the fourth quarter compared with a loss of $5.12 per share in the year ago period. The stock price climbed $1.75 to $15.45.

Oppenheimer analyst Sam Dubinsky lifted his price target for Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF). The stock price climbed $1.18 to close at $9.99.

Investopedia named MetroPCS Communications Inc. (NYSE: PCS) as one of the worst performing stocks of 2009 sending the stock price down 54 cents to close at $7.45.

Taser International Inc. (Nasdaq: TASR) shipped three large orders in December 2009 and expects fourth quarter revenue to be approximately $32 million. The stock price surged $1.14 to close at $5.84.

Shares of Sunesis Pharmaceuticals (Nasdaq: SNSS) surged 36 cents to $1.44 after website BioMed Reports commented that traders should take advantage of any retreat in the stock price.

Beazer Homes USA Inc. (NYSE: BZH) announced plans to offer 18 million common shares and $50 million worth of senior convertible notes. Shares of the homebuilder fell 66 cents to $4.76.

MannKind Corp. (Nasdaq: MNKD) engaged in discussions with the Food and Drug Administration regarding the label for its inhaled insulin Afresa. The stock price fell $1.07 to close at $7.92.

Reports that Macau gaming revenue climbed 10% in 2009 lifted shares of Melco Crown Entertainment Ltd. (Nasdaq: MPEL) 55 cents to close at $4.13.

Ford Motor Co. (NYSE: F) reported a sharp 33% jump in auto sales for the month of December. Shares of the automaker rose 86 cents to $11.14.

Goldman Sachs upgraded Tenet Healthcare Corp. (NYSE: THC) and placed the company on its conviction buy list citing the hospital operator's valuation sending the stock price up 59 cents to $6.04.

BPZ Resources Inc. (NYSE: BPZ) completed two wells in northwest Peru but the stock price dropped $1.18 to close at $8.32.

Jefferies & Co. analyst Randal Konik downgraded AnnTaylor Stores Corp. (NYSE: ANN) to Underperform citing greater cost pressures sending shares of the women's clothing retailer down 72 cents to close at $12.92.

Novartis offered approximately $39.3 billion to acquire the remaining shares of Alcon Inc. (NYSE: ACL) that it does not already own. The value of the offer to minority shareholders is approximately $153 per share, well below the close price on Thursday of $164.35. The stock price plunged $9.37 to close at $154.98.

UBS analyst Robin Farley upgraded Las Vegas Sands Corp. (NYSE: LVS) saying that gaming revenue in Macau will continue to grow. Shares of the casino operator rose $1.48 to $16.42.

China Direct Industries Inc. (Nasdaq: CDII) cited improved visibility for providing an annual financial guidance. The stock price climbed 49 cents to $1.67.