December 2010 Archives

The National Association of Realtors reported yesterday that pending sales of previously owned homes climbed by a much larger than expected 3.5% in November to lift shares of homebuilders Standard Pacific Corp. (NYSE: SPF) and Hovnanian Enterprises Inc. (NYSE: HOV). Shares of Standard Pacific rose 16 cents to close at $4.60 while Hovnanian stock added 16 cents to close at $4.09.

Investors locked in profits on Qiao Xing Universal Resources Inc. (Nasdaq: XING), whose shares rose after the emerging resources company posted pictures of its newly acquired lead-zinc-copper mine in Inner Mongolia on Wednesday. The stock price eased 2 cents to close at $2.83.

China Direct Industries Inc. (Nasdaq: CDII) will sell more than 2 million common shares at $1.80 per share through a registered direct offering. The stock price fell 35 cents to close at $1.51.

Borders Group Inc. (NYSE: BGP) will postpone paying some of its vendors as the bookseller restructures financing agreements. Shares of the bookseller tumbled 26 cents to $0.90.

CVS Caremark (NYSE: CVS) will pay approximately $1.25 billion to purchase the Medicare Part D business of Universal American (NYSE: UAM). Shares of CVS lost 14 cents to $34.86 while Universal American stock leaped $5.84 to $20.45.

The Daily Mail reported that Sony may offer $40 per share to acquire IMAX (Nasdaq: IMAX) sending the stock price soaring $4.19 to $31.05.

Shares of Suntech Power Holdings Co. Ltd. (NYSE: STP) continued falling by losing 24 cents to close at $7.84 over concerns that more solar subsidies will end.

Bloomberg reported that a surge yesterday in put-option volume for Zale Corp. (NYSE: ZLC) indicated that investors expect the jewelry retailer's price to drop. The stock price lost 58 cents to close at $4.38.

Analysts expect International Coal Group Inc. (NYSE: ICO) to swing to a profit for the fourth quarter of 8 cents per share compared with a loss of 7 cents per share a year earlier and forecast a 23% surge in the stock. Shares of the coal producer rose 59 cents to close at $7.84.

JPMorgan Chase (NYSE: JPM) and Barclay's (NYSE: BCS) withdrew from a lawsuit filed in May 2009 by eighteen of the largest global financial institutions against MBIA (NYSE: MBI).

The Daily Mail reported that BHP Billiton will make an all cash $90 per share offer to acquire Andarko Petroleum Corp. (NYSE: APC) lifting the stock price $4.66 to $75.39.

Shares of Qiao Xing Universal Resources Inc. (Nasdaq: XING) continued soaring by climbing 22 cents to $2.93 after the mining company posted pictures of its recently acquired lead-zinc-copper mine in Inner Mongolia and announced the launch of a new company website in January.

Piper Jaffay upgraded Rightnow Technologies Inc. (Nasdaq: RNOW) to an Overweight rating with a price target of $26 sending the stock price soaring $3.72 to close at $23.51.

Calyon Securities analyst Mike Mayo lowered his fourth quarter earnings outlook on The Goldman Sachs Group Inc. (NYSE: GS) sending the stock price down $1.56 to close at $167.63.

Bel Fuse will nominate three candidates for Pulse Electronics Corp.'s (NYSE: PULS) Board of Directors as a first step in reopening discussions for a possible merger between the two electronics components rivals. The stock price soared $1.09 to close at $5.45.

Shares of Molycorp Inc. (NYSE: MCP) climbed $2.77 to $48.95 after China announced yesterday that it will lower its rare earth metals exports in 2011.

Qiao Xing Universal Resources Inc. (Nasdaq: XING) posted pictures of its recently acquired lead-zinc-copper mine in Inner Mongolia lifting the stock price 52 cents to $2.37.

The New York Post reported that BJ's Wholesale Club Inc. (NYSE: BJ) may be the target of a hostile takeover by private equity firm Leonard Green & Partners if the warehouse club fails to initiate an auction to sell itself next month. The stock price soared $3.00 to $47.47.

A greater than expected drop in home prices weighed down shares of Beazer Homes USA Inc. (NYSE: BZH) 25 cents to close at $5.37.

China's decision to cut its rare earth exports lifted shares of Thompson Creek Metals Company Inc. (NYSE: TC) 72 cents to close at $13.94.

Piper Jaffray analyst Neely Tamminga initiated coverage of ValueVision Media Inc. (Nasdaq: VVTV) with a Buy rating and a price target of $8. Shares of the multimedia retailer leaped $1.02 to close at $5.90.

Shares of XOMA Ltd. (Nasdaq: XOMA) continued falling by dropping another $1.09 to $5.05 after Seeking Alpha contributor Edward Stevenson questioned the biopharmaceutical's drug development pipeline yesterday.

Gushan Environmental Energy Ltd. (NYSE: GU) is assessing the effects of China's consumption tax. The stock price rose 35 cents to $5.69.

BioSante Pharmaceuticals Inc. (Nasdaq: BPAX) announced an $18 million registered direct offering sending the stock price down 31 cents to $1.69.

DryShips Inc. (Nasdaq: DRYS) will pay approximately $770 million for a dozen high-specification newbuilding oil tankers. The stock price lost 42 cents to close at $5.55.

Seeking Alpha contributor Edward Stevenson questioned the recent surge in XOMA Ltd.'s (Nasdaq: XOMA) stock price sending shares tumbling $1.02 to close at $6.14.

American International Group Inc. (NYSE: AIG) entered two credit facilities totaling $3 billion. The stock price soared $5.05 to close at $59.38.

Capstone Investments analyst Carter Driscoll initiated coverage of Tesla Motors Inc. (Nasdaq: TSLA) with a Sell rating and a price target of $22. Shares of the electric vehicle maker plunged $3.91 to $26.18.

Shares of Jackson Hewitt Tax Service Inc. (NYSE: JTX) climbed 64 cents to $2.41 after H&R Block's (NYSE: HRB) tax refund anticipation loan partner ended its contract with the tax preparation firm. H&R Block stock lost 89 cents to $11.80.

Repros Therapeutics Inc. (Nasdaq: RPRX) completed two animal studies of its uterine fibroid and endometriosis treatment Proellex in a vaginal delivery formulation sending the stock price soaring $1.59 to $4.15.

New home sales rose less than expected in November to weigh down shares of homebuilders Hovnanian Enterprises Inc. (NYSE: HOV) 22 cents to close at $4.03, Lennar Corp. (NYSE: LEN) 79 cent to close at $18.17 and Standard Pacific Corp. (NYSE: SPF) 34 cents to close at $4.35.

Goldman Sachs initiated coverage of ReneSola Ltd. (NYSE: SOL) with a Buy rating and an $11 price target lifting the stock price 67 cents to close at $9.07.

Repros Therapeutics Inc. (Nasdaq: RPRX) submitted data to the Food and Drug Administration for its Androxal testosterone treatment. Shares of the biopharmaceutical jumped $1.16 to close at $2.57.

The Irish government will gain control of Allied Irish Banks (NYSE: AIB) with a capital infusion of $4.9 billion sending the stock price tumbling 16 cents to $0.93.

Investment firm Leonard Green & Partners will take Jo-Ann Stores Inc. (NYSE: JAS) private in a deal valued at approximately $1.6 billion. Shares of the fabric store leaped $14.57 to $60.20.

Rovi will acquire Sonic Solutions (Nasdaq: SNIC) in a cash and stock deal valued at approximately $720 million sending the stock price soaring $2.86 to $14.06.

MI Developments Inc. (NYSE: MIM) will convert all Class A and Class B stock into common shares sending the stock price soaring $8.63 to close at $27.69.

EMCORE Corp. (Nasdaq: EMKR) disappointed with a loss for the fourth quarter of a penny per share compared with a loss of 11 cents per share a year earlier sending the stock price tumbling 36 cents to close at $1.23.

Arena Pharmaceuticals Inc. (Nasdaq: ARNA) will resubmit a new drug application for its weight loss treatment Iorcaserin to the Food and Drug Administration by the end of 2011. The stock price slipped 24 cents to close at $1.80.

Zoom Technologies Inc. (Nasdaq: ZOOM) raised its full year guidance to forecast record results earnings and revenue sending the stock price soaring $1.55 to $5.38.

First quarter earnings for Walgreen Co. (NYSE: WAG) climbed to 62 cents per share from 49 cents per share a year earlier to surpass analyst expectations as revenue rose. Shares of the drugstore chain climbed $2.61 to $39.44.

Hancock Holding Co. (Nasdaq: HBHC) will acquire Whitney Holding Corp. (Nasdaq: WTNY) in a stock-for-stock transaction valued at approximately $1.5 billion. Shares of Whitney leaped $3.31 to $14.18 while Hancock stock dropped $2.04 to $35.00.

Security camera maker ICOP Digital Inc. (Nasdaq: ICOP) suspended operations due to a lack of cash and is pursuing financing options. The stock price collapsed 49 cents to close at $0.58.

Summer Street Research Partners said that Xoma Ltd.'s (Nasdaq: XOMA) once per month diabetes medication XOMA-052 may be the best in a new class of blockbuster drugs. Shares of the biopharmaceutical leaped $1.67 to close at $4.05.

First quarter earnings for Jabil Circuit Inc. (NYSE: JBL) more than tripled to 49 cents per share from 13 cents per share a year earlier to surpass analyst expectations as revenue soared and the company forecast current quarter results ahead of estimates lifting the stock price $1.89 to close at $19.55.

Molycorp Inc. (NYSE: MCP) partnered with Hitachi Metals to produce rare earth alloys and magnets in the United States. The stock price surged $5.73 to $44.98.

Lock maker Assa Abloy will acquire LaserCard Corp. (Nasdaq: LCRD) for approximately $80 million. Shares of the identity card maker leaped $1.77 to $6.22.

The largest vitamin maker in the world DSM will pay approximately $1.1 billion in cash to acquire Martek Biosciences Corp. (Nasdaq: MATK) sending the stock price soaring $8.26 to $31.62.

WSP Holdings Ltd. (NYSE: WH) subsidiary Wuxi Seamless Oil Pipes received twenty six new orders from Venezuelan oil company PDVSA Services for casing pipe, tubing pipe and line pipe. The stock price leaped 43 cents to close at $1.47.

TheStreet.com listed Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) as one of the top 10 stock picks for 2011 that is under $5 lifting the stock price 58 cents to close at $5.15.

Moody's downgraded Allied Irish Banks (NYSE: AIB) sending the stock price down 10 cents to close at $1.13.

Chesapeake Energy Corp. (NYSE: CHK) announced that activist investor Carl Icahn own's 5.8% of the company's stock sending shares up $1.62 to $24.92.

Icagen Inc. (Nasdaq: ICGN) began a Phase I clinical trial of its pain treatment Nav1.7 in collaboration with Pfizer Inc. (NYSE: PFE). Shares of Icagen leaped 49 cents to $1.94 while Pfizer stock edged up 8 cents to $17.11.

Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) will accelerate the new drug application process for its chronic low blood pressure treatment Northera lifting the stock price $1.17 to $7.18.

Moody's Investors Service downgraded Ireland's credit rating sending shares of Allied Irish Banks (NYSE: AIB) down 7 cents to close at $1.23 and The Governor and Company of The Bank of Ireland (NYSE: IRE) down 13 cents to close at $2.55.

UBS downgraded Digital Realty Trust Inc. (NYSE: DLR) to a Sell rating sending the stock price plummeting $3.42 to close at $48.32.

First quarter earnings climbed for Accenture (NYSE: ACN) to 81 cents per share from 67 cents per share a year earlier to top analyst estimates prompting the management consulting and technology outsourcing services firm to lift its full year guidance. The stock price soared $3.65 to close at $50.32.

A U. S. district judged dismissed a lawsuit against YRC Worldwide Inc. (Nasdaq: YRCW) seeking to overturn concessions made by the Teamsters to YRC. The stock price gained 49 cents to $3.83.

The Bank of Montreal will pay approximately $4.1 billion in stock to acquire Marshall & Ilsley Corp. (NYSE: MI) lifting the stock price $1.04 to $6.83.

A European health regulator advisory panel recommended approval for InterMune Inc.'s (Nasdaq: ITMN) idiopathic pulmonary fibrosis treatment Esbriet. Shares of the biotechnology company more than doubled by leaping $19.74 to $34.01.

The Federal Reserve proposed a debit card transaction fee cap that would translate into an 80% to 90% cut in fees sending shares of Visa Inc. (NYSE: V) plunging $9.75 to close at $67.19 and Mastercard Inc. (NYSE: MA) plummeting $25.73 to close at $223.49.

Comstock Resources Inc. (NYSE: CRK) will spend approximately $522 million for development and exploration in 2011 sending the stock price tumbling $2.23 to close at $22.12.

Winnebago Industries Inc. (NYSE: WGO) swung to a third quarter profit of 13 cents per share compared with a loss of 5 cents per shares last year that beat analyst expectations by a wide margin. Shares of the recreational vehicle company soared $1.87 to close at $14.96.

After reviewing strategic alternatives, Regis Corp. (NYSE: RGS) decided not to sell itself sending the stock price tumbling $1.95 to $16.38. 

Aeropostale Inc. (NYSE: ARO) retained the services of Barclays Capital to provide strategic advice. Shares of the apparel retailer climbed $1.59 to $25.16.

Certain OCZ Technology Group Inc. (Nasdaq: OCZ) shareholders will sell their common stock to institutional and accredited investors lifting shares of the computer components company 82 cents to $4.93.

Manitowoc Co. Inc. (NYSE: MTW) will sell its Kysor/Warren refrigerated systems unit to Lennox International Inc. (NYSE: LII) for approximately $138 million. Shares of Manitowoc lost 66 cents to close at $12.43 while Lennox stock rose 61 cents to close at $47.70.

Shares of Allied Irish Banks (NYSE: AIB) rose 11 cents to close at $1.33 after the Irish parliament approved the European Union's 85 billion euro bailout package.

KEMET Corp. (NYSE: KEM) unveiled its new Ceramic Chip Capacitor Array in a smaller case size lifting the stock price $1.26 to close at $12.75.

Rumors that The St. Joe Company (NYSE: JOE) will be acquired lifted shares of the real estate developer $2.08 to $19.88.

Shares of Cypress Bioscience Inc. (Nasdaq: CYPB) continued to rise after accepting Ramius' $6.50 per share cash acquisition offer by gaining 70 cents to $6.45.

Novartis (NYSE: NVS) will buy the 23% of Alcon Inc. (NYSE: ACL) that it does not already own by paying an increased price of $12.9 billion. Shares of Novartis soared $3.12 to $58.95 while Alcon stock climbed $2.72 to $165.15.

Shares of the Governor and Company of The Bank of Ireland (NYSE: IRE) dropped 16 cents to close at $2.66 after Ireland empowered the government with extensive authority to restructure banks.

BSD Medical Corp. (Nasdaq: BSDM) successfully launched its MicroThermX Microwave Ablation System for treating cancer. Shares of the medical systems company soared $1.54 to close at $5.28.

Citigroup downgraded Veeco Instruments Inc. (Nasdaq: VECO) sending the stock price plummeting $7.78 to close at $42.19.

International Coal Group Inc. (NYSE: ICO) priced its secondary offering of approximately 34.7 million common shares sending the stock price down $1.05 to $7.11.

Best Buy Co. Inc. (NYSE: BBY) disappointed with lower third quarter earnings that fell short of analyst expectations prompting the consumer electronics retailer to lower its fiscall 2011 guidance. The stock price plummeted $6.11 to $35.59.

Private investment firm H.I.G. Capital will pay $8 per share in cash to acquire Matrixx Initiatives Inc. (Nasdaq: MTXX) sending the stock price soaring $2.87 to $7.99.

RBC Capital Markets downgraded Western Refining Inc. (NYSE: WNR) to an Underperform rating. Shares of the crude oil refiner dropped $1.13 to close at $9.49.

Nektar Therapeutics (Nasdaq: NKTR) will not seek partners to develop its cancer treatment NKTR-102. Analysts questioned the financial risk involved sending shares of the biopharmaceutical tumbling $1.35 to close at $12.71.

Rare earth oxide producer Molycorp Inc. (NYSE: MCP) secured the final permits it needed to begin construction of a state of the art rare earth manufacturing plant in Mountain Pass, California sending the stock price soaring $3.00 to close at $34.28.

Cytokinetics Inc. (Nasdaq: CYTK) reported positive results from a midstage clinical trial of its Lou Gehrig's disease drug candidate CK-2017357 but the stock price fell 63 cents to $2.30. 

Financial reporter Herb Greenberg raised concerns about Youku's (NYSE: YOKU) high valuation amidst significant losses sending the stock price tumbling $4.77 to $32.73.

Shares of FuelCell Energy Inc. (Nasdaq: FCEL) rose 17 cents to $1.62 ahead of its earnings release after market close.

Aastrom Biosciences (Nasdaq: ASTM) priced its public offering of 10 million units at $2.25 per unit sending the stock price down 70 cents to close at $2.37.

Fourth quarter earnings rose for Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) to top analyst estimates but the company forecast disappointing first quarter income and lowered its fiscal 2011 guidance sending the stock price plummeting $3.61 to close at $33.81. 

The underwriters of Youku.com Inc.'s (NYSE: YOKU) initial public offering purchased approximately 2.3 million additional American depositary shares by exercising their over-allotment option. The stock price plunged $5.20 to close at $37.50.

Rumors that Great Atlantic & Pacific Tea Company Inc. (NYSE: GAP) may file for bankruptcy protection sent shares of the supermarket chain plummeting $1.90 to $0.93. 

Beckman Coulter Inc. (NYSE: BEC) retained the services of Goldman Sachs to explore strategic options to increase shareholder value including the possible sale of the company sending the stock price soaring $15.09 to $72.18.

Tenet Healthcare Corp. (NYSE: THC) received a $7.3 billion cash and stock acquisition offer from Community Health Systems Inc. (NYSE: CYH). Shares of Tenet Healthcare leaped $2.42 to $6.71 while Community Health stock soared $5.62 to $37.26.

American International Group Inc. (NYSE: AIG) finalized an agreement to repay the government bailout it received to avoid a bankruptcy many feared would lead to a global financial collapse. Shares of the insurer surged $5.56 to close at $47.78.

Dean Foods Co. (NYSE: DF) will offer up to $400 million in senior notes to qualified institutional investors. The stock price rose 94 cents to close at $8.39.

Shares of LED chips and components maker SemiLEDs Corp. (Nasdaq: LEDS) surged $8.76 to close at $25.76 on its first trading day.

Third quarter earnings surged for Lululemon Athletica Inc. (Nasdaq: LULU) to 36 cents per share from 20 cents per share a year earlier to surpass analyst expectations by a wide margin and forecast fourth quarter results ahead of estimates. Shares of the athletic apparel retailer soared $9.77 to $65.47.

Cien Corp. (Nasdaq: CIEN) widened fourth quarter losses to 86 cents per share from 29 cents per share last year but the communications networking company forecast first quarter revenue ahead of analyst estimates lifting the stock price $2.13 to $18.05.

First Republic Bank (NYSE: FRC) stock nearly doubled by leaping $13.69 to $27.64 in its initial public offering.

H&R Block Inc. (NYSE: HRB) narrowed second quarter losses to 35 cents per share from 38 cents per share in the year ago period but revenue fell to miss expectations sending the stock price down 83 cents to close at $12.72.

Ivanhoe Mines Ltd. (NYSE: IVN) will raise capital to finance the construction of the Oyu Tolgoi copper-gold complex in Mongolia through the sale of stock and warrants to mining and exploration company Rio Tinto. Shares of the mining company tumbled $4.21 to close at $24.99.

Stillwater Mining Co. (NYSE: SWC) priced its secondary offering of 37 million common shares at $19.50 per share sending the stock price down $1.40 to close at $19.05.

A jury in a product liability case reached a verdict against Cybex International Inc. (Nasdaq: CYBI) and awarded $66 million to the plaintiff sending the stock price plummeting 41 cents to $0.89. Cybex will appeal the decision. 

Lincoln National Corp. (NYSE: LNC) chief executive will present at the Goldman Sachs U. S. Financial Services Conference today. The stock price climbed $1.99 to $27.33.

A Food and Drug Admininstration advisory panel recommended approval for Orexigen Therapeutics Inc.'s (Nasdaq: OREX) weight loss treatment Contrave. The news lifted shares of Arena Pharmaceuticals Inc. (Nasdaq: ARNA) 17 cents to $1.58 and Vivus Inc. (Nasdaq: VVUS) $1.25 to $9.05, whose Lorcaserin and Qnexa diet drugs were rejected a few months ago. Shares of Orexigen doubled by leaping $4.87 to $9.74.

Onyx Pharmaceuticals Inc.'s (NYSE: ONXX) multiple myeloma treatment carfilzomib reduced cancer tumors in one third of the patients enrolled in a midstage clinical trial sending the stock price soaring $3.95 to close at $33.29.

US Airways Group Inc. (NYSE: LCC) fell to fourth place and lost its number one ranking in the Department of Transportation's October Air Travel Consumer Report measuring consumer satisfaction. Shares of the airliner lost 60 cents to close at $10.55.

Wintrust Financial Corp. (Nasdaq: WTFC) priced its offering of approximately 3.2 million common shares at $30.00 per share and 4 million tangible equity units at $50.00 per unit. The stock price tumbled $2.88 to close at $29.35.

Geron Corp. (Nasdaq: GERN) priced its offering of more than 17 million common shares at $5.00 per share. The stock price tumbled $1.02 to $5.10.

The Talbots Inc. (NYSE: TLB) reported higher third quarter earnings that topped analyst estimates but the women's apparel retailer forecast fourth quarter results below expectations and lowered its full year guidance sending the stock price plummeting $2.35 to $9.04. 

Ireland will entice investors to purchase loans from Governor and Company of the Bank of Ireland (NYSE: IRE) and Allied Irish Banks (NYSE: AIB) by sharing up to 2 billion euros in future bank loan losses. Shares of Bank of Ireland soared 51 cents to $2.67 while Allied Irish Banks stock surged 29 cents to $1.33.

Israeli newspaper the Calcalist reported that Riverbed Technology Inc. (Nasdaq: RVBD) offered $47 per share for Radware Ltd. (Nasdaq: RDWR). Shares of Radware leaped $7.01 to close at $39.77 while Riverbed stock gained 75 cents to close at $35.57.

Sprint Nextel (NYSE: S) will begin phasing out its Nextel unit in 2013, which has been losing subscribers since 2005. The stock price rose 25 cents to close at $4.17.

Suntech Power Holdings Co. Ltd. (NYSE: STP) forecast 2010 and 2011 full year results ahead of analyst expectations lifting the stock price 76 cents to close at $9.04.

Borders Group Inc.'s (NYSE: BGP) largest shareholder Pershing Square Capital, which is managed by activist investor William A. Ackman, offered to finance an all cash $960 million acquisition offer for Barnes & Noble (NYSE: BKS). Shares of Borders Group soared 37 cents to $1.48 while Barnes & Noble stock climbed $1.72 to $15.00.

Columbia Laboratories Inc. (Nasdaq: CBRX) and Watson Pharmaceuticals Inc. (NYSE: WPI) reported upbeat results from their Prochieve gel to reduce preterm birth. Shares of Columbia Laboratories climbed 28 cents to $1.79 while Watson Pharmaceuticals stock gained $1.21 to $50.76.

Verigy Ltd. (Nasdaq: VRGY) received an unsolicited acquisition offer from Advantest (NYSE: ATE). Shares of Verigy leaped $3.66 to $12.80 while Advantest stock eased 25 cents to $21.45.

Third quarter earnings for Big Lots Inc. (NYSE: BIG) tumbled to 23 cents per share from 37 cents per share a year earlier to fall short of expectations. Shares of the discount retailer dropped $1.59 to close at $29.50.

Gentex Corp. (Nasdaq: GNTX) declared a quarterly dividend of $0.11 cents per share payable on January 21, 2011 to shareholders of record January 6, 2011. The stock price soared $4.06 to close at $26.89.

Rising silver prices lifted shares of Hecla Mining Co. (NYSE: HL) 75 cents to close at $10.50.

Speculation that Microvision Inc. (Nasdaq: MVIS) technology may be incorporated into Apple Inc.'s (Nasdaq: AAPL) iPhone 5 lifted shares of the miniature display and imaging company 23 cents to $1.67. Apple stock lost $1.36 to $316.79.

The Food and Drug Administration said that Orexigen Therapeutics Inc.'s (Nasdaq: OREX) weight loss pill Contrave failed to meet all of the regulatory agency's guidelines sending the stock price down 48 cents to $4.99. 

Dryships Inc. (Nasdaq: DRYS) raised approximately $350 million through an ATM Equity Offering and announced that subsidiary Ocean Rig will raise approximately $500 million through a private placement offering. The stock price climbed 64 cents to $5.87.

Goldman Sachs upgraded the financial sector lifting shares of regional bank Marshall & IlsleyCorp. (NYSE: MI) 60 cents to close at $5.48.

Aeropostale Inc. (NYSE: ARO) disappointed with third quarter earnings of 63 cents per share compared with 61 cents per share last year and revenue that fell short of estimates and announced the resignation of co-chief executive Mindy C. Meads. Shares of the teen retailer tumbled $3.76 to close at $23.04.

Same store sales surged 22% for Abercrombie & Fitch Co. (NYSE: ANF) sending the stock price soaring $5.58 to close at $56.02.

The Kroger Co. (NYSE: KR) swung to a profit for the third quarter of 32 cents per share from a loss of $1.35 per share last year but investors were disappointed with the grocery store chain's full year guidance. The stock price dropped $1.92 to $21.94.

Pepsico Inc. (NYSE: PEP) will pay approximately $3.8 billion to acquire a 66% stake in Wimm-Bill-Dann Foods (NYSE: WBD). Shares of Pepsico slipped 81 cents to $64.82 while Wimm-Bill-Dann stock leaped $6.61 to $31.11.

Investors locked in profits on Las Vegas Sands Corp. (NYSE: LVS), which soared yesterday on news of a 42% jump in November gaming revenue in Macau. Shares of the casino operator tumbled $3.38 to $47.96.

Linktone Ltd. (Nasdaq: LTON) reported lower third quarter earnings but revenue rose lifting the stock price 26 cents to close at $1.67. 

Shares of Mecox Lane Ltd. (Nasdaq: MCOX) continued falling by dropping another $1.80 to close at $6.65 after reporting lower sales at its company run stores yesterday. 

Motorola Inc. (NYSE: MOT) subsidiary Motorola Mobility will acquire 4Home, a software and services platform firm that connects home services through its ControlPoint solution. The stock price rose 35 cents to close at $8.01.

BPZ Resources Inc. (NYSE: BPZ) announced that its CX-11 Corvina platform in Peru will begin commercial production. Shares of the oil and natural gas company rose 60 cents to $4.54.

A-Power Energy Generation Systems Ltd. (Nasdaq: APWR) widened third quarter losses as revenue plunged sending the stock price plummeting $1.66 to $4.70. 

GT Solar International Inc. (Nasdaq: SOLR) received its first two orders for its sapphire crystallization systems worth more than $84 million lifting the stock price 80 cents to $7.49.