May 2010 Archives

Shares of deepwater drilling companies Noble Corp. (NYSE: NE) fell $1.00 to close at $29.07 and Transocean Ltd. (NYSE: RIG) dropped $2.94 to close at $56.77 after the government ordered drilling to stop at 33 deepwater wells while safety reviews are conducted.

CKX Inc. (Nasdaq: CKXE) received an acquisition offer from American Idol creator Simon Fuller. Shares of  the entertainment company leaped 98 cents to close at $5.30.

Jackson Hewitt Tax Service Inc. (NYSE: JTX) said that full year 2010 revenue will top estimates as the number of prepared tax returns fell less than expected. The stock price gained 34 cents to $1.95.

Maxim Group downgraded DJSP Enterprises Inc. (Nasdaq: DJSP) after the company reported lower first quater results sending the stock price tumbling $2.81 to $6.06.

While Blue Coat Systems Inc. (Nasdaq: BCSI) swung to a profit for the fourth quarter of 49 cents per share compared with a loss of 9 cents per share in the year ago period, the company forecast first quarter results below expectations. The stock price plummeted $6.03 to $22.81.

Bloomberg News reported that Ford Motor Co. (NYSE: F) is considering ending the production of its Mercury brand of cars. Shares of the automaker rose 60 cents to close at $11.99.

Nonprofit One Laptop Per Child selected Marvell Technology Group Ltd.'s (Nasdaq: MRVL) Moby tablet as its next computer lifting the stock price 88 cents to close at $19.25.

SunPower Corp. (Nasdaq: SPWRA) entered a $700 million joint venture with AU Optronics Corp. (NYSE: AUO) to own and operate a solar cell fabrication facility in Malaysia. Shares of SunPower leaped $2.40 to close at $13.20 while AU Optronics stock rose 50 cents to close at $9.75.

Second quarter earnings for VeriFone Systems Inc. (NYSE: PAY) nearly doubled to 23 cents per share from 13 cents per share last year to beat expectations as revenue rose and the company forecast second quarter revenue ahead of estimates. The stock price climbed $2.88 to $20.19.

Fourth quarter earnings for NetApp Inc. (Nasdaq: NTAP) surged to 40 cents per share from 21 cents per share to beat analyst expectations. The company forecast first quarter results ahead of estimates sending the stock price soaring $5.64 to $38.07.

Neurocrine Biosciences Inc. (Nasdaq: NBIX) stock surged for a second day by climbing 69 cents to close at $4.09 after the company reported upbeat results from a midstage clinical trial of its endometriosis treatment elagolix.

The Food and Drug Administration will review MELA Sciences Inc.'s (Nasdaq: MELA) pre-market application for its melanoma detection tool MelaFind. Shares of the medical device company surged $1.53 to close at $7.57.

GTx Inc. (Nasdaq: GTXI) reported that its prostate cancer treatment toremifene failed a late stage clinical study sending the stock price plummeting $1.00 to close at $2.02.

Central Jersey Bancorp (Nasdaq: CJBK) and Kearny Financial Corp. (Nasdaq: KRNY) will merge in a deal valued at approximately $72.3 million. Shares of Central Jersey leaped $3.90 to $6.98 while Kearny Financial stock slipped 28 cents to $9.07.

American Eagle Outfitters Inc. (NYSE: AEO) reported lower first quarter earnings of 5 cents per share compared with 11 cents per share a year earlier and forecast second quarter results below analyst expectations. Shares of the teen retailer plunged $2.46 to $12.92.

Woori Finance Holdings will pay up to $240 million to acquire a controlling stake in Hanmi Financial Corp. (Nasdaq: HAFC). The stock price soared 66 cents to $2.69.

Citigroup and Bank of America Merrill Lynch upgraded AK Steel Holding Corp. (NYSE: AKS) lifting the stock price $1.54 to close at $15.06.

Sprint Nextel Corp. (NYSE: S) expanded ethernet access to 28 markets nationwide and 35 countries globally. The stock price rose 50 cents to close at $5.29.

Dynegy Inc. (NYSE: DYN) entered a new $150 million credit facility with Morgan Stanley Capital Group. The stock price leaped $3.67 to $4.68.

Toshiba and Babcock & Wilcox Investment will invest $200 million in USEC Inc. (NYSE: USU). The stock price climbed 84 cents to $5.08.

Neurocrine Biosciences Inc. (Nasdaq: NBIX) reported positive results from a Phase II Daisy PETAL study using elagolix in endometriosis patients sending the stock price soaring 89 cents to $3.62.

Microsoft Corp.'s (Nasdaq: MSFT) appeal of a verdict that the company infringed on Alcatel-Lucent's (NYSE: ALU) patent was rejected by the Supreme Court. Shares of Microsoft fell 57 cents to $26.27 while Alcatel-Lucent stock eased 3 cents to close at $2.43.

JP Morgan Chase lowered its earnings estimate and price target for Transocean Ltd. (NYSE: RIG), owner of the Deepwater Horizon rig that exploded in the Gulf of Mexico. The stock price plunged $5.28 to close at $53.96.

Goldman Sachs upgraded Sprint Nextel Corp. (NYSE: S) to a Buy rating and lifted its price target on the company from $3.50 to $6. The stock price rose 38 cents to close at $4.79.

Dreamworks Animation SKG Inc.'s (Nasdaq: DWA) "Shrek Forever After" earned far less than expected at the box office on its opening weekend sending the stock price tumbling $3.44 to $31.43.

Gentiva Health Services Inc. (Nasdaq: GTIV) will pay approximately $1 billion in cash to acquire Odyssey Healthcare Inc. (Nasdaq: ODSY). Shares of Gentiva soared $3.45 to $29.24 while Odyssey stock leaped $7.23 to $26.53.

Dynegy Inc. (NYSE: DYN) announced on Friday that shareholders approved a 1-for-5 reverse stock split to take effect on or about May 25, 2010 sending the stock price down 7 cents to $1.05.

First quarter earnings rose for Dell Inc. (Nasdaq: DELL) to 22 cents per share from 15 cents per share a year earlier but gross margin fell sending the stock price down 97 cents to close at $13.35.

Moody's Investors Service lifted its outlook on Las Vegas Sands Corp. (NYSE: LVS) and affirmed its corporate rating on the casino operator. The stock price gained $1.15 to close at $21.00.

Shares of Bank of America Corp. (NYSE: BAC) rose 69 cents to close at $15.99, Citigroup (NYSE: C) added 12 cents to $3.75 and Wells Fargo & Co. (NYSE: WFC) gained $1.42 to close at $30.11 after passage of the Senate banking reform bill provided certainty for investors to make informed decisions.

Brocade Communications Systems Inc. (Nasdaq: BRCD) swung to a second quarter profit of 5 cents per share from a loss of 17 cents per share a year earlier but revenue missed estimates. The stock price lost 61 cents to $5.26.

All Things Digital reported that Yahoo Inc. (Nasdaq: YHOO) will partner with Nokia Corp. (NYSE: NOK) to develop a phone using Yahoo applications. Shares of Yahoo rose 50 cents to $15.60 while Nokia stock edged up 6 cents to $10.09.

Keryx Biopharmaceuticals Inc. (Nasdaq: KERX) reported promising results from a midstage trial of its colorectal cancer treatment perifosine lifting the stock price 55 cents to $5.03.

FormFactor Inc. (Nasdaq: FORM) announced that chief executive Mario Ruscev and chief financial officer Jean Bernard Vernet both resigned effective immediately. The stock price dropped 66 cents to close at $12.94.

The Motley Fool investment community rated Wave Systems Corp. (Nasdaq: WAVX) a one star stock out of five stars sending the stock price down 49 cents to close at $2.88.

In an antitrust suit against General Electric Co. (NYSE: GE), Mitsubishi accused General Electric of making meritless patent infringement claims against the company and monopolizing the wind turbine market. Shares of GE fell $1.00 to close at $16.26.

Antigenics Inc. (Nasdaq: AGEN) announced positive results from a clinical trial of its brain cancer vaccine Oncophage but the stock price fell 22 cents to $1.14.

Strategic Hotels & Resorts Inc. (NYSE: BEE) closed its offering of 75.9 million common shares. The stock price lost 67 cents to $4.10.

China Techfaith Wireless Communication Technology Ltd. (Nasdaq: CNTF) reported sharply higher first quarter earnings as revenue surged lifting the stock price 41 cents to $2.67.

US Airways Group Inc. (NYSE: LCC) chief executive Doug Parker reassured investors that the airliner was on firm financial footing and does not need to merge in order to survive lifting the stock price 40 cents to close at $7.40. 

Denny's Corp. (Nasdaq: DENN) shareholders will decide whether to oust chief executive Nelson Marchioli, board chair Debra Smithart-Oglesby and former chair Robert Marks or maintain the current board. The stock price dropped 45 cents to close at $2.94.

ChipMOS Technologies Ltd. (Nasdaq: IMOS) reversed year ago losses to post a profit for the first quarter as revenue surged. The stock price climbed 21 cents to close at $1.86.

While Chico's FAS Inc. (NYSE: CHS) reported first quarter earnings that more than doubled to 20 cents per share from 8 cents per share last year, investors were disappointed that the company merely met analyst expectations. Shares of the women's apparel company tumbled $2.11 to $12.05.

Second quarter earnings for Analog Devices Inc. (NYSE: ADI) more than tripled to 55 cents per share froom 18 cents per share a year earlier beat expectations as revenue soared. The chip maker forecast current quarter results ahead of estimates sending the stock price up $1.22 to $28.82.

The Wall Street Journal reported that both Georgia Pacific and Rank Group joined Apollo Management in a bidding war for Pactiv Corp. (NYSE: PTV) lifting the stock price $1.68 to $29.58.

RBC Capital Markets downgraded Whiting USA Trust (NYSE: WHX) to an underperform rating. Shares of the real estate investment trust plunged $3.15 to close at $18.92.

Resource Capital Corp. (NYSE: RSO) will offer approximately $80 million in stock sending the stock price down 73 cents to close at $5.99.

China Nepstar Chain Drugstore Ltd. (NYSE: NPD) blamed expenses from 104 store openings for sharply lower first quarter earnings of 2 cents per American Depositary Share from 28 cents per ADS. The stock price tumbled 94 cents to close at $4.74.

Ambac Financial Group Inc. (NYSE: ABK) widened first quarter losses to $2.39 per share from a loss of $1.36 per share in the year ago period sending the stock price tumbling 30 cents to $1.16.

Citi Investment Research analyst Josh Levin upgraded Beazer Homes (NYSE: BZH) to a Buy rating saying that recent drops in the stock price made it a value. Shares of the homebuilder rose 39 cents to $5.63.

Spreadtrum Communications Inc. (Nasdaq: SPRD) reversed year ago losses of 19 cents per American Depositary share to post a first quarter profit of 13 cents per ADS as revenue surged. The stock price climbed 98 cents to $9.16.

Deer Consumer Products Inc. (Nasdaq: DEER) lifted its full year guidance and announced a $20 million stock repurchase plan sending the stock price up $1.17 to close at $8.87.

Virtual Radiologic Corp. (Nasdaq: VRAD) will be taken private by Providence Equity Partners in a deal valued at approximately $294 million. The stock price soared $3.91 to close at $16.90.

Massey Energy Co. (NYSE: MEE) will declassify its board of directors sending the stock price tumbling $3.71 to close at $33.29.

The Wall Street Journal reported that Pactiv Corp. (Nasdaq: PTV) may be acquired by private equity firm Apollo Global Management sending the stock price soaring $4.42 to $28.39.

Perfect World Co. Ltd. (Nasdaq: PWRD) reported higher first quarter results but forecast disappointing second quarter revenue sending the stock price tumbling $7.30 to $25.64.

Man Group will pay approximately $1.6 billion in cash and stock to acquire GLG Partners Inc. (Nasdaq: GLG). The stock price surged $1.44 to $4.35.

Hauppauge Digital Inc. (Nasdaq: HAUP) introduced its tuner board to stream live TV to Apple's iPad, iPhone and iPod touch sending the stock price soaring 90 cents to close at $3.93.

A Senate amendment lowering debit card fees weighed down shares of Visa Inc. (NYSE: V) $8.47 to close at $77.26 and Mastercard Inc. (NYSE: MA) $19.86 to close at $212.45.

Although Nvidia Corp. (Nasdaq: NVDA) swung to a first quarter profit of 23 cents per share from a loss of 37 cents per share last year, the company forecast disappointing revenue for the current quarter sending the stock price down $1.69 to close at $12.96.

An appeals court will allow Dish Network Corp. (Nasdaq: DISH) and EchoStar Corp. (Nasdaq: SATS) to present their case again in TiVo Inc.'s (Nasdaq: TIVO) patent infringement suit against the two companies. Shares of Dish Network gained 99 cents to $22.95 while EchoStar stock eased a penny to $20.46. TiVo stock plummeted $7.14 to $10.25.

Merit Medical Systems Inc. (Nasdaq: MMSI) will pay approximately $96 million to acquire BioSphere Medical (Nasdaq: BSMD). Shares of Merit Medical slipped 39 cents to $15.77 while BioSphere stock leaped $1.26 to $4.26.

Hauppauge Digital Inc. (Nasdaq: HAUP) introduced its tuner boards to stream live TV to Apple Inc.'s (Nasdaq: AAPL) iPad, iPhone and iPod touch. Hauppage stock leaped $2.01 to close at $3.03 while Apple stock fell $3.73 to close at $258.36.

Prestige Brands Holdings Inc. (NYSE: PBH) swung to a fourth quarter profit of 7 cents per share compared with a loss of $4.22 per share last year but the results fell short of expectations as expenses climbed.

A new Sprint Nextel Corp. (NYSE: S) prepaid wireless plan will be offered by Wal-Mart Stores Inc. (NYSE: WMT) prompting Raymond James to upgrade Sprint. Shares of Sprint rose 32 cents to $4.47 while Wal-Mart stock added 37 cents to $52.84.

AuthenTec Inc. (Nasdaq: AUTH) widened first quarter losses but revenue climbed to beat analyst expectations sending the stock price up 75 cents to $3.15.

Walt Disney Co. (NYSE: DIS) reported higher second quarter earnings of 48 cents per share compared with 33 cents per share last year as the company's movie revenue rose but amusement park and televison income disappointed. Shares of the entertainment company lost 63 cents to close at $35.13.

SAP is about ready to close a deal to acquire Sybase (NYSE: SY) for approximately $6 billion. The stock price leaped $14.57 to close at $56.14.

S&P Equity Research upgraded Eastman Kodak Co. (NYSE: EK) sending the stock price up 55 cents to close at $6.29.

Ambac Financial Group Inc. (NYSE: ABK) warned of a $750 million loss for the first quarter sending the stock price down 11 cents to $1.35.

BPZ Resources Inc. (NYSE: BPZ) reported a loss for the first quarter sending the stock price down 86 cents to close at $5.15.

Leap Wireless International Inc. (Nasdaq: LEAP) blamed higher expenses for widening first quarter losses more than expected to 90 cents per share fro 74 cents per share in the year ago period. The stock price tumbled to $2.67 to $14.11.

Trico Marine Services Inc. (Nasdaq: TRMA) reported a first quarter loss of $3.80 per share that was much wider than expected and warned that it may fail to be in compliance with its debt covenants. The stock price plunged 78 cents to $1.66.

The Food and Drug Administration rejected InterMune Inc.'s (Nasdaq: ITMN) lung scarring treatment pirfenidone sending the stock price plummeting $34.77 to $10.67.

CapitalSource Inc. (NYSE: CSE) widened first quarter losses to 66 cents per share from a loss of 36 cents per share a year earlier as loan loss provisions soared. The stock price tumbled 63 cents to close at $5.34.

Jackson Hewitt Tax Service Inc. (NYSE: JTX) amended its credit agreement and eliminated 15% of its workers sending the stock price soaring 50 cents to $2.18.