September 2011 Archives
Micron Technology Inc. (Nasdaq: MU) disappointed by swinging to a fourth quarter loss of 14 cents per share compared with earnings of 32 cents per share in the year ago period prompting a downgrade. Shares of the semiconductor lost 57 cents to $5.30.
Netflix Inc. (Nasdaq: NFLX) plunged $12.98 to $114.16 after Amazon Inc. (Nasdaq: AMZN) introduced its Kindle Fire with Prime Instant Video streaming service yesterday available for the low price of $199. Shares of Amazon tumbled $6.76 to $222.95.
Analysts downgraded Imperial Holdings (NYSE: IFT) after federal agents raided the corporate office yesterday. The stock price plummeted $3.70 to $2.60.
Quantum Corp. (NYSE: QTM) named Tom Valiente as vice president, North America Channel Sales. The stock price rose 19 cents to close at $2.02.
Eastman Kodak Co. (NYSE: EK) will borrow $160 million from its revolving credit line sending the stock price tumbling 56 cents to $1.82.
The Paragon Report issued an equity research report on Human Genome Sciences Inc. (Nasdaq: HGSI), whose lupus treatment Benlysta was approved for marketing in the US, Europe and Canada. The stock price climbed $1.58 to close at $14.58.
Alpha Natural Resources Inc. (NYSE: ANR) cut its 2011 coal production outlook due to lower demand sending the stock price plummeting $3.31 to $23.61.
Deutsche Bank initiated coverage of Suntech Power (Nasdaq: STP), Yingli Green Energy (NYSE: YGE), JinkoSolar Holding (NYSE: JKS) and Trina Solar (NYSE: TSL) with Hold ratings. Shares of Suntech eased 9 cents to close at $3.68 while Yingli Green Energy stock slipped 30 cents to close at $3.84. JinkoSolar Holdings stock lost 78 cents to close at $9.04 while shares of Trina Solar fell 62 cents to close at $9.61.
Patriot Coal Corp. (NYSE: PCX) warned that third quarter production will fall while the average cost per ton of coal will rise. The stock price dropped $1.47 to close at $12.86.
HCA Inc. (NYSE: HCA) will repurchase more than 80 million shares of common stock owned by Bank of America (NYSE: BAC). Shares of HCA soared $2.23 to close at $20.84 while Bank of America stock added 28 cents to close at $7.33.
A UBS (NYSE: UBS) employee engaged in unauthorized trading accumulated $2 billion in losses. Shares of the financial services firm dropped $1.36 to $11.32.
STMicroelectronics (NYSE: STM) introduced its iNEMO Engine Sensor Fusion Suite solution for enhanced motion and accurate heading recognition. The company also announced that its Near Field Communication solution will support the Windows 8 operating system lifting the stock price 66 cents to close at $6.66.
ConAgra Foods Inc. (NYSE: CAG) will drop its $5.2 billion acquisition offer for Ralcorp Holdings Inc. (NYSE: RAH) if Ralcorp refuses to engage in merger discussions. Shares of ConAgra lost 61 cents to close at $23.45 while Ralcorp stock plummeted $6.03 to close at $79.11.
Best Buy Co. (NYSE: BBY) disappointed with lower second quarter earnings of 47 cents per share compared with 60 cents per share a year earlier that fell short of analyst expectations. Shares of the consumer electronics retailer dropped $1.78 to $23.18.
Tenet Healthcare Corp. (NYSE: THC) warned that 2011 earnings will be at the low end of its guidance due to lower Medicaid reimbursements. The stock price slipped 39 cents to $4.63.
The chief executive officer of Tata Motors Ltd. (NYSE: TTM), Carl-Peter Forster, resigned effective immediately. Shares of the Indian automaker dropped $1.56 to close at $15.35.
Moody's Investors Service downgraded Beazer Homes USA Inc.'s (NYSE: BZH) debt rating sending the stock price down 22 cents to close at $1.63.
Skyworks Solutions accused Advanced Analogic Technologies Inc. (Nasdaq: AATI) of failing to comply with conditions of their merger agreement sending the stock price plummeting $1.29 to close at $4.64.
VeriSign Inc. (Nasdaq: VRSN) announced the resignation of chief financial officer Brian Robins sending the stock price plummeting $5.09 to $28.82.
Ulta Salon, Cosmetics & Fragrance Inc. (Nasdaq: ULTA) reported higher second quarter earnings of 38 cents per share compared with 22 cents per share a year earlier and revenue that topped analyst expectations and forecast current quarter results ahead of estimates. The stock price leaped $8.41 to $68.17.
Investors locked in profits on MGIC Investment Corp. (NYSE: MTG), whose stock price climbed on Wednesday after the company announced that the number of delinquent mortgages dropped. The stock price fell 35 cents to $2.35.
An unexpected increase in first time jobless claims weighed down shares of homebuilder Beazer Homes USA Inc. (NYSE: BZH) 19 cents to close at $1.85.
Smithfield Foods Inc. (NYSE: SFD) reported higher first quarter earnings of 49 cents per share compared with 46 cents per share a year earlier but revenue fell short of expectations and the packaged meat company forecast disappointing full year results. The stock price dropped $1.85 to close at $20.27.
Pall Corp. (NYSE: PLL) released preliminary fourth quarter earnings that fell short of analyst estimates sending the stock price plummeting $4.79 to close at $44.03.
Seeking Alpha contributor Adam Gefvert researched allegations of fraud against Silvercorp Metals Inc. (NYSE: SVM) and concluded that the company did not commit fraud lifting the stock price 74 cents to $8.96.
Valero Energy Corp. (NYSE: VLO) said that it may explore the possibility of acquiring Sunoco's Philadelphia and Marcus Hook, Pennsylvania refineries lifting the stock price $1.32 to $23.60.
PerkinElmer Inc. (NYSE: PKI) will pay approximately $600 million in cash to acquire Caliper Life Sciences (Nasdaq: CALP). Shares of PerkinElmer slipped 69 cents to $21.36 while Caliper Life Sciences stock leaped $3.02 to $10.41.
Talbots (Nasdaq: TLB) reported a wider than expected loss for the second quarter of 54 cents per share compared with a profit of a penny per share last year but revenue topped analyst estimates and the company announced the departure of chief executive Michael Smaldone. Shares of the women's apparel retailer gained 43 cents to close at $2.96.
The European Union approved MELA Sciences Inc.'s (Nasdaq: MELA) melanoma treatment MelaFind sending the stock price soaring $1.26 to close at $3.50.
FuelCell Energy Inc. (Nasdaq: FCEL) narrowed third quarter losses to 7 cents per share compared with 15 cents per share in the year ago period as revenue surged more than expected. The stock price tumbled 26 cents to close at $1.29.
An article in The Times of London said that Walter Energy Inc. (NYSE: WLT) may be the target of an acquisition by Anglo American. Shares of Walter Energy leaped $16.45 to $91.44.
MGIC Investment Corp. (NYSE: MTG) reported a sequential drop in delinquent loans and wrote $1.3 billion in new mortgage insurance in August sending the stock price soaring 59 cents to $2.88.
Yahoo Inc. (Nasdaq: YHOO) fired chief executive officer Carol Bartz and named chief financial officer Tim Morse as interim chief executive. The stock price rose 66 cents to $13.57.
Shares of Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) tumbled 52 cents to close at $5.08 over fears that it may also file bankruptcy protection. Rival Solyndra filed for bankruptcy protection last week.
Shares of Dynegy Inc. (NYSE: DYN) continued rising by adding 41 cents to close at $5.32 after the company acquired direct ownership of Dynegy Coal Holdco.
Rumors circulated that VeriSign Inc. (Nasdaq: VRSN) may be acquired after the company cancelled an appearance at the Citigroup Global Technology Conference. The stock price leaped $2.05 to close at $32.06.
World Street Fundamentals issued a research report on Alcatel-Lucent (NYSE: ALU) but the stock price fell 31 cents to $3.20.
Concerns that Europe's debt crisis will worsen weighed down shares of Credit Suisse Group (NYSE: CS) $3.66 to $23.72.
International Paper Co. (NYSE: IP) will acquire Temple-Inland Inc. (NYSE: TIN) in a deal valued at approximately $4.3 billion including the assumption of debt. Shares of International Paper gained $1.18 to $26.67 while Temple-Inland stock leaped $6.18 to $30.81.
AppleInsider insider reported that Best Buy lowered the price of Research in Motion Ltd.'s (NYSE: RIMM) Playbook tablet to $549 from $699. The stock price dropped $1.73 to close at $30.12.
A Seeking Alpha article named Regeneron Pharmaceuticals Inc. (Nasdaq: REGN) as one of three healthcare stocks with significant upside potential sending the stock price soaring $5.32 to close at $64.78.
Liz Claiborne Inc. (NYSE: LIZ) will sell its Mexx unit for $85 million plus an 18.75% stake in the joint venture acquiring the business lifting the stock price 46 cents to close at $5.52.
H&R Block (NYSE: HRB) widened first quarter losses more than expected to 57 cents per share from 41 cents per share a year earlier as revenue fell. The stock price tumbled $1.87 to $13.31.
The New York Times reported that the Federal Housing Finance Agency will sue Bank of America Corp. (NYSE: BAC), The Goldman Sachs Group Inc (NYSE: GS) and JPMorgan Chase & Co. (NYSE: JPM) and other banks for misrepresenting mortgage securities that they sold. Shares of Bank of America lost 58 cents to $7.33 while Goldman Sachs stock plummeted $6.04 to $106.13. JPMorgan stock dropped $1.53 to $34.77.
Finisar Corp. (Nasdaq: FNSR) reported lower first quarter earnings of 11 cents per share compared with 24 cents per share in the year ago period due to a one-time charge but the results topped analyst estimates sending the stock price soaring $2.30 to $20.89.
A Seeking Alpha contributor suggested that Zynga acquire Glu Mobile Inc. (Nasdaq: GLUU) lifting the stock price 35 cents to close at $3.40.
SAIC Inc. (NYSE: SAI) reported lower second quarter earnings that fell short of expectations and forecast current quarter results below estimates prompting a downgrade. The stock price plunged $2.03 to close at $12.97.
Ciena Corp. (Nasdaq: CIEN) narrowed third quarter losses more than expected to 33 cents per share from $1.18 per share in the year ago period as the company cut expenses. The stock price surged $2.47 to close at $14.71.