April 2010 Archives

First quarter earnings for Robert Half International Inc. (NYSE: RHI) slipped to 5 cents per share from 6 cents per share in the year ago period to fall short of expectations and the company forecast disappointing second quarter results. Robert W. Baird downgraded the company sending the stock price tumbling $3.20 to close at $28.20.

Greece's budget deficit ballooned to 13.6% of the nation's gross domestic product sending shares of National Bank of Greece (NYSE: NBG) down 20 cents to close at $3.13.

Delcath Systems Inc. (Nasdaq: DCTH) reported upbeat results from a Phase III clinical trial of the company's Percutaneous Hepatic Perfusion system to treat liver cancer. The stock price climbed $2.08 to close at $12.93.

While Textron Inc. (NYSE: TXT) swung to a first quarter loss of 3 cents per share compared with income of 35 cents per share last year, the results were better than expected lifting shares of the company $2.63 to close at $24.23.

First quarter losses for Marshall & Ilsley Corp. (NYSE: MI) widened but the results beat expectations sending the stock price up 90 cents to close at $9.31.

Array BioPharma Inc. (Nasdaq: ARRY) entered a collaboration agreement valued at up to $467 million with Novartis to develop the cancer treatments ARRY-162 and ARRY-300. The stock price leaped $1.00 to close at $4.02.

Human Genome Sciences Inc. (Nasdaq: HGSI) and GlaxoSmithKline (NYSE: GSK) announced that their lupus treatment Benlysta failed secondary goals in a late stage clinical trial. Shares of Human Genome tumbled $2.98 to $28.51 while GlaxoSmithKline stock edged up 13 cents to $39.51.

First quarter earnings plunged for Harley-Davidson Inc. (NYSE: HOG) to 14 cents per share from 50 cents per share in the year ago period but the results topped analyst estimates. The stock price climbed $2.43 to $35.20.

McMoRan Exploration (NYSE: MMR) blamed one-time charges for widening first quarter losses. The stock price dropped $1.98 to $13.38.

Citigroup (NYSE: C) impressed with higher first quarter earnings of 15 cents per share that beat analyst expectations by a wide margin as loan loss provisions fell and trading revenue increased. Shares of the bank rose 15 cents to $4.71.

Morgan Keegan analyst Tavis McCourt downgraded Palm (Nasdaq: PALM) to a Sell rating saying that the company will be unable to sell itself.  The stock price dropped 65 cents to $4.94.

First Horizon National Corp. (NYSE: FHN) narrowed first quarter losses to 12 cents per share from 37 cents per share a year earlier but revenue dropped to fall short of expectations.

The Securities and Exchange Commission accused Goldman Sachs Group Inc. (NYSE: GS) of fraud related to subprime mortgage securities. Shares of the investment firm plunged $21.98 to $162.29.

AEterna Zentaris Inc. (Nasdaq: AEZS) will sell $15 million worth of common stock and warrants to purchase common shares through registered direct offering sending the stock price tumbling 35 cents to $1.30.

Jamba Inc. (Nasdaq: JMBA) launched a new line of branded apparel. The stock price rose 38 cents to close at $3.33.

The European Medicines Agency advised AEterna Zentaris Inc. (Nasdaq: AEZS) that the Phase III study of its cancer treatment perifosine is acceptable. Shares of the drug development company gained 27 cents to close at $1.65.

MGM Mirage (NYSE: MGM) warned of greater than expected losses for the first quarter sending the stock price down 84 cents to close at $14.57.

Macerich Co. (NYSE: MAC) priced its offering of 30 million common shares at $41 per share sending the stock price tumbling $3.49 to $40.24.

The Wall Street Transcript interviewed AEterna Zentaris (Nasdaq: AEZS) chief executive Dr. Jurgen Engel sending the stock price up 22 cents to close at $1.38.

Goldman Sachs downgraded Potash Corp. of Saskeatchewan Inc. (NYSE: POT) and Mosaic (NYSE: MOS). Shares of Potash tumbled $3.53 to $108.68 while Mosaic stock dropped $1.99 to $54.79.

Kulicke & Soffa Industries Inc. (Nasdaq: KLIC) said that both second quarter and third quarter revenue will top analyst estimates. The stock price climbed $1.46 to $9.32.

Hot Topic Inc. (Nasdaq: HOTT) said that sales are improving in all of its core businesses sending the stock price up $1.12 to $9.60.

Investors locked in profits on Ambac Financial Group Inc. (NYSE: ABK), whose shares have tripled since last week. The stock price tumbled 63 cents to close at $1.62.

Avon Products Inc. (NYSE: AVP) has suspended four executives in an ongoing investigation of allegations of bribery sending the stock price dropping $2.77 to close at $31.99.

UBS downgraded Huntington Bancshares Inc. (Nasdaq: HBAN) saying that the economic recovery will  be slower than anticipated. Shares of the regional bank fell 40 cents to $5.63.

While Popular Inc. (Nasdaq: BPOP) warned of wider first quarter losses, the parent company of Banco Popular expects lower loan loss provisions and announced plans to raise $900 million through a public offering. The stock price rose 35 cents to $3.40.

Fannie Mae (NYSE: FNM) will sell $5 billion in three and six month bills on Wednesday. The stock price added 14 cents to close at $1.24.

Freddie Mac (NYSE: FRE) sold three and six month bills at a lower rate than last week due to improving demand. The stock price rose 19 cents to close at $1.56.

Mirant Corp. (NYSE: MIR) will acquire RRI Energy Inc. (NYSE: RRI) in a stock swap deal valued at approximately $1.61 billion. Shares of Mirant climbed $1.95 to close at $12.68 while RRI stock gained 58 cents to close at $4.53.

Shares of Ambac Financial Group Inc. (NYSE: ABK) continued soaring by leaping 56 cents to $1.66 after posting a profit on Friday.

Bloomberg reported that Palm Inc. (Nasdaq: PALM) retained the services of Goldman Sachs and Qatalyst Partners to assist in the sale of the company. The stock price climbed 85 cents to $6.01.

Borders Group Inc. (NYSE: BGP) secured a $700 million credit line with GE Capital Corporate Retail Finance as co-collateral agent. The stock price rose 26 cents to close at $2.97.

Manatee County selected Jacobs Engineering Group Inc. (NYSE: JEC) manage construction of its $20 million Fort Hamer Bridge project lifting the stock price $2.97 to $47.25.

Rumors circulated that HTC Corp. may be in negotiations to acquire Palm Inc. (Nasdaq: PALM). The stock price rose 51 cents to $5.16.

February gaming revenue jumped 32.9% on the Las Vegas Strip to lift shares of MGM Mirage (NYSE: MGM) $1.38 to close at $14.73, Las Vegas Sands Corp. (NYSE: LVS) $1.30 to close at $24.23 and Boyd Gaming Corp. (NYSE: BYD) $1.36 to close at $12.23.

J.C. Penney Company Inc. (NYSE: JCP) disappointed with a lower than expected increase in same store sales. Shares of the department store operator lost $1.81 to close at $30.98.

Pier 1 Imports Inc. (NYSE: PIR) swung to a fourth quarter profit of 30 cents per share from a loss of 33 cents per share a year earlier due to cost cutting measures and rising revenue. The stock price rose 82 cents to $8.08.

A Food and Drug Administratin advisory panel rejected Forest Laboratories Inc.'s (NYSE: FRX) lung disease treatment Daxas citing the possibility of dangerous side effects sending the stock price tumbling $4.04 to $28.42.

American International Group (NYSE: AIG) agreed to settle an antitrust lawsuit by paying $9 million. Shares of the insurer surged $3.78 to close at $39.69.

Star Scientific Inc. (Nasdaq: CIGX) entered a research agreement with Roskamp Institute to develop a compound with the potential to treat Alzheimer's disease but the stock price dropped 47 cents to close at $2.48.

Royal Bank of Scotland upgraded Allied Irish Banks plc (NYSE: AIB) to a Buy rating sending the stock price up 27 cents to $3.94.

Rumors swirled that Lenova may be interested in acquiring Palm Inc. (Nasdaq: PALM) lifting shares of the mobile device maker 72 cents to $4.57.

Shares of National Bank of Greece SA (NYSE: NBG) fell 28 cents to close at $3.85 after news articles suggested that the debt crisis in Greece was getting worse.

An explosion at one of Massey Energy Co.'s (NYSE: MEE) West Virginia coal mines killed 25 workers. The stock price plunged $4.62 to $50.07.

Zanett Inc. (Nasdaq: ZANE) announced a record $17.1 million in signed contracts for the first quarter. Shares of the information technology services provider leaped $1.34 to $3.18.

State Grid Corporation of China selected China Information Security Technology Inc. (Nasdaq: CPBY) to be one of only two suppliers for China's Smart Grid sending the stock price soaring $1.48 to $6.80.

Shares of PMI Group Inc. (NYSE: PMI) soared $1.33 to close at $7.10 after Barclays Capital analyst Eric Berg commented that the revised Home Affordable Modification Program will benefit mortgage insurers.

The Food and Drug Administration cleared Unilife Corp.'s (Nasdaq: UNIS) Unitract 1mL Insulin Syringes for assembly at the company's manufacturing facility in Lewisberry, PA. Shares of the medical device maker surged $2.23 to close at $8.04.

Analysts downgraded Tesoro (NYSE: TSO) after a refinery fire on Friday killed five workers. The stock price dropped 84 cents to $13.55.

The Food and Drug Administration granted Keryx Biopharmaceuticals Inc.'s (Nasdaq: KERX) refractory advanced colorectal cancer treatment KRX-0401 Fast Track status sending the stock price soaring 69 cents to $3.43.

Century Aluminum Co. (Nasdaq: CENX) temporarily extended a union contract at its Kentucky smelting plant while contract negotiations continue. The stock price climbed $1.54 to close at $15.30.

Lihir Gold Ltd. (Nasdaq: LIHR) rejected Newcrest Mining's $8.5 billion acquisition offer saying that the bid was too low sending the stock price soaring $7.45 to close at $35.61.

Pacific Ethanol Inc. (Nasdaq: PEIX) widened fourth quarter losses due to a significant impairment charge but adjusted earnings beat last year's results by a wide margin. The stock price climbed 23 cents to $1.34.

Gentium (Nasdaq: GENT) narrowed fourth quarter losses as revenue climbed. Shares of the biopharmaceutical leaped $1.54 to $3.83.