December 2011 Archives

Chesapeake Energy Corp. (NYSE: CHK) failed to complete a $2.14 billion joint venture by mid-December as stated in the letter of intent weighing the stock price down 44 cents to close at $22.29.

A faulty battery by A123 Systems Inc. (Nasdaq: AONE) prompted Fisker Automotive to recall 239 Karma electric sports cars. The stock price lost 16 cents to close at $1.61.

A Seeking Alpha contributor listed RAM Energy Resources Inc. (Nasdaq: RAM) as one of four frequently traded stocks with a return on equity of more than 50% lifting the stock price 29 cents to close at $3.13.

Chinese ethanol producers launched an investigation into distiller's dried grains exports by Pacific Ethanol Inc. (Nasdaq: PEIX) and other U. S. ethanol companies. The stock price slipped 8 cents to $1.06.

J.P. Morgan said that Leap Wireless International Inc. (Nasdaq: LEAP) and MetroPCS Communications Inc. (NYSE: PCS) may be potential acquisition targets for AT&T Inc. (NYSE: T). Shares of Leap soared $1.09 to $9.58 while MetroPCS stock gained 48 cents to $8.72. AT&T stock edged up 12 cents to $30.29.

Invensas paid $35 million in cash to acquire a total of 73 patents from MoSys Inc. (Nasdaq: MOSY) sending the stock price soaring $1.27 to $4.24.  

A jump in pending home sales lifted shares of KB Home (NYSE: KBH) 39 cents to close at $6.73, Beazer Homes USA Inc. (NYSE: BZH) 16 cents to close at $2.45 and Masco Corp. (NYSE: MAS) 83 cents to close at $10.70.

Ivanhoe Energy Inc. (Nasdaq: IVAN) produced a video that explains its proprietary heavy oil upgrading process. The stock price added 16 cents to close at $1.18.

Motley Fool wrote that 2012 will be a make-it year for Cell Therapeutics Inc. (Nasdaq: CTIC) lifting the stock price 11 cents to close at $1.12.   

Investors locked in profits on Endeavour International Corp. (NYSE: END), whose stock price rose yesterday after an analyst upgrade. Shares of the oil and gas company lost 58 cents to $8.33.

CNBC reported that David Einhorn of Greenlight Capital may have acquired a stake in Diamond Foods Inc. (Nasdaq: DMND) sending the stock price soaring $2.13 to $31.53. 

VisionChina Media Inc. (Nasdaq: VISN) shareholders approved the appointment of Deloitte Touche Tohmatsu to be the company's independent auditor. The stock price rose 10 cents to $1.36.  

Falling gold and silver prices weighed down shares of Hecla Mining Co. (NYSE: HL) 37 cents to close at $5.03.

Zagg Inc. (Nasdaq: ZAGG) chief executive Robert G. Pedersen II sold approximately $2.5 million worth of company stock while beneficial owner Scott H. Huskinson sold more than  $6.9 million worth of stock. The stock price tumbled $1.12 to close at $6.73. 

TheStreet listed Zogenix Inc. (Nasdaq: ZGNX) as one of five stocks that is ready to breakout lifting the stock price 19 cents to close at $2.10.   

J.P. Morgan lowered its earnings guidance and price target on Molycorp  Inc. (Nasdaq: MCP). Shares of the rare earth metals company tumbled $2.90 to $25.10.

Rodman & Renshaw upgraded Endeavour International Corp. (NYSE: END) to an Outperform rating after the oil and gas company acquired Central North Sea oil fields from ConocoPhillips lifting the stock price $1.21 to $9.15.

Hyperdynamics Corp. (NYSE: HDY) resumed drilling off the shore of Republic of Guinea at its Sabu-1 exploration well. The stock price climbed 23 cents to $2.45. 

Sears Holdings Corp. (Nasdaq: SHLD) will close between 100 to 120 stores sending shares of the retailer plummeting $9.79 to $36.06. 

Magnum Hunter Resources Corp. (NYSE: MHR) lifted its production guidance for 2011 and 2012. Shares of the independent oil and gas company rose 72 cents to $5.39.

A new round of rigorous testing by Mead Johnson Nutrition Co. (NYSE: MJN) on its Enfamil Premium newborn formula revealed no presence of the bacteria Cronobacter sending the stock price soaring $3.44 to $68.73.   

A gain in November new home sales lifted shares of private mortgage insurer Radian Group Inc. (Nasdaq: RDN) 12 cents to close at $2.25. 

Macau experienced a 20.1% year-over-year increase in November visitors lifting shares of casino operator MGM Resorts International (NYSE: MGM) 48 cents to close at $9.96.   

Shares of Mead Johnson Nutrition Co. (NYSE: MJN) continued falling by plunging $3.47 to close at $65.29 after Wal-Mart Stores Inc. (NYSE: WMT) pulled the company's Enfamil baby formula from its shelves yesterday. Wal-Mart stock gained 80 cents to close at $59.99.

United Continental Holdings Inc. (NYSE: UAL) expects its capacity to drop by 4.8% in the fourth quarter. Shares of the airliner dropped $1.05 to $19.21.

Rambus Inc. (Nasdaq: RMBS) finalized a patent license agreement allowing Broadcom Corp. (Nasdaq: BRCM) to use its technology in integrated circuit products for five years. Shares of Rambus climbed $1.04 to $8.36 while Broadcom stock eased 3 cents to $29.74.

RAM Energy Resources Inc. (Nasdaq: RAM) continued climbing by gaining 60 cents to $2.61 after announcing a $550 million investment from Halcon Resources and that former Petrohawk Energy chief executive Floyd Wilson will become RAM's next chief executive.  

RAM Energy Resources Inc. (Nasdaq: RAM) regained compliance with Nasdaq's minimum price listing requirements and announced a $550 million capital investment from Halcon Resources. The stock price leaped 91 cents to close at $2.01.  

Wal-Mart Stores Inc. (NYSE: WMT) pulled Mead Johnson Nutrition Co.'s (NYSE: MJN) Enfamil infant formula from its stores after an infant died. Shares of Wal-Mart eased 20 cents to close at $59.19 while Mead Johnson stock plummeted $7.72 to close at $68.76.

SandRidge Energy Inc. (NYSE: SD) entered a $1 billion joint venture with Repsol YPF at its Extension Mississippian play and at its Original Mississippian play. The stock price soared $1.54 to close at $8.21.

Akamai Technologies Inc. (Nasdaq: AKAM) will pay approximately $268 million in cash to acquire cloud services provider Contendo. The stock price leaped $4.98 to $31.65.

Micron Technology Inc. (Nasdaq: MU) swung to a wider than expected loss for the first quarter of 19 cents per share compared with income of 15 cents per share in the year ago period but the stock price rose 89 cents to $6.43 after Wedbush Securities upgraded the company to an Outperform rating. 

WCA Waste Corp. (Nasdaq: WCAA) agreed to be acquired by Macquarie Infrastructure Partners II sending the stock price soaring $1.47 to $6.38.   

Oracle Corp.'s (Nasdaq: ORCL) earnings miss weighed down shares of business software firms Salesforce.com (NYSE: CRM) $5.29 to close at $99.03, Teradata Corp. (NYSE: TDC) $2.78 to close at $47.70, Tibco Software Inc. (Nasdaq: TIBX) $1.56 to close at $22.00 and Vmware Inc. (NYSE: VMW) $8.47 to close at $76.85. Shares of Oracle plunged $3.40 to close at $25.77.

KB Home (NYSE: KBH) reported lower fourth quarter earnings of 18 cents per diluted share compared with 23 cents per diluted share a year earlier weighing the stock price down 52 cents to close at $7.22.

Analysts lowered their price target on Emerson Electric Co. (NYSE: EMR) sending the stock price tumbling $2.70 to close at $46.97.

Cobalt International Energy Inc. (NYSE: CIE) entered into another offshore drilling contract in West Africa sending the stock price soaring $3.75 to close at $13.85.

Targacept Inc. (Nasdaq: TRGT) announced disappointing results for its depression drug Phase 3 trials. Shares of the biopharmaceutical plummeted $2.79 to close at $4.99.

The software sector failed to keep up with the rest of the markets.  Shares  of Red Hat Inc. (NYSE: RHT) issued a revenue forecast that missed analysts' estimates. The stock price plunged $4.10 to close at $41.95.

A drop in domestic box office receipts and movie attendance weighed down shares of  multi-screen theatre operator Regal Entertainment Group (NYSE: RGC) $1.16 to close at $12.11. 

The Oxen Group slashed their price target on LDK Solar Co. Inc. (Nasdaq: LDK) from $15.50 to $6 but the stock price rose 50 cents to close at $4.95.

Motley Fool wrote that Elan Corp. (NYSE: ELN) turned itself around in 2011 lifting the stock price 75 cents to close at $12.57. 

Mechel OAO (NYSE: MTL) launched its first line, the blooming concaster #5, which will supply the universal rolling mill with billets but the stock price fell $0.74 to $8.21. 

Eldorado Gold Corp. (Nasdaq: EGO) will acquire European Goldfields in a cash and stock deal valued at approximately $2.4 billion. Shares of Eldorado Gold dropped $1.77 to $13.21.

Grocery store chain Bi-Lo will pay approximately $560 million to acquire rival Winn-Dixie Stores Inc. (Nasdaq: WINN) sending the stock price soaring $3.87 to $9.30.   

Shares of InterMune Inc. (Nasdaq: ITMN) continued falling by dropping $1.65 to close at $11.09 after a German regulatory agency said yesterday that the biopharmaceutical's lung disease treatment Esbriet provided no additional benefits to patients.

Nevada sued Lender Processing Services Inc. (NYSE: LPS) for engaging in fraudulent and deceptive practices sending the stock price plunging $3.04 to close at $14.30. 

Pharmasset Inc.'s (Nasdaq: VRUS) plan to amend the drug trial of its hepatitis C treatment PSI-938 weighed down shares of rival hepatitis C treatment developer Inhibitex Inc. (Nasdaq: INHX). Shares of Pharmasset plunged $4.04 to close at $123.75 while Inhibitex stock plummeted $2.54 to close at $10.45.

Cablevision Systems Corp. (NYSE: CVC) chief operating officer Tom Rutledge announced his resignation effective at the end of the month sending the stock price tumbling $1.92 to $12.01.

Research in Motion Ltd. (Nasdaq: RIMM) reported sharply lower third quarter earnings of 51 cents per diluted share compared with $1.74 per diluted share in the year ago period and warned that BlackBerry shipments in the fourth quarter will drop prompting downgrades. The stock price dropped $1.82 to $13.31. 

United Rentals Inc. (NYSE: URI) will pay approximately $1.9 billion in cash and stock to acquire rival RSC Holdings Inc. (NYSE: RRR). Shares of United Rentals rose 88 cents to $26.92 while RSC Holdings stock leaped $6.31 to $17.68.  

Athenahealth Inc. (Nasdaq: ATHN) forecast 2012 results well below analyst expectations sending the stock price plummeting $8.99 to close at $49.04. 

Germany's Institute for Quality and Efficiency in Health Care said that InterMune Inc.'s (Nasdaq: ITMN) lung disease treatment Esbriet provided little to no additional benefit to patients. Shares of the biopharmaceutical plummeted $5.55 to close at $12.74.

The impending expiration of ethanol subsidies at the end of the year weighed down shares of Pacific Ethanol Inc. (Nasdaq: PEIX) 21 cents to close at $0.86. 

Lam Research Corp. (Nasdaq: LRCX) will pay approximately $3.3 billion in stock to acquire rival Novellus Systems Inc. (Nasdaq: NVLS). Shares of Lam Research dropped $2.06 to $37.42 while Novellus stock leaped $6.86 to $41.56.

Analysts downgraded BioSante Pharmaceuticals Inc. (Nasdaq: BPAX) after the company reported that its LibiGel female sexual dysfunction drug failed two late stage clinical trials. The stock price plummeted $1.64 to $0.48.

Ultrasound system company SonoSite Inc. (Nasdaq: SONO) agreed to be acquired by Fujifilm Holdings in a deal valued at approximately $995 million including the assumption of debt. The stock price jumped $11.32 to $53.56.

Shares of Terex Corp. (NYSE: TEX) continued to fall by dropping $1.11 to close at $12.90 after a jury ruled against the company last week in a patent infringement suit. 

BioSante Pharmaceuticals Inc. (Nasdaq: BPAX) reported that its LibiGel failed two Phase III clinical trials sending the stock price down 40 cents to close at $2.12. 

Delta Air Lines Inc. (NYSE: DAL) and US Airways Group Inc. (NYSE: LCC) closed their takeoff and landing slot rights swap to increase US Airways' presence at Reagan National Airport while Delta expanded flights to LaGuardia Airport. Shares of Delta rose 16 cents to close at $8.15 while US Airways stock gained 40 cents to close at $5.59.

HyperDynamics Corp. (NYSE: HDY) reported that mechanical and operational issues have delayed drilling at its Sabu-1 exploration well off the coast of the Republic of Guinea. The stock price lost 29 cents to $2.39. 

First Solar Inc. (Nasdaq: FSLR) blamed weather delays for slashing its 2011 earnings and revenue forecast. Shares of the solar module company plummeted $8.47 to $34.10. 

Analysts upgraded Avon Products Inc. (NYSE: AVP) after the cosmetics company announced a search for a new chief executive to replace Andrea Jung, who will remain as chairman. The stock price climbed $1.02 to $17.16.

Endocyte Inc. (Nasdaq: ECYT) reported inconclusive results from a Phase 2b PRECEDENT trial of its ovarian cancer treatment EC145 sending the stock price plummeting $6.72 to close at $3.57. 

Forest Oil Corp. (NYSE: FST) will spend $550 million to $600 million on capital projects in 2012 and expects 2012 net sales volumes to rise 5% - 6%. The stock price tumbled $2.05 to close at $14.04.

Shares of Jive Software Inc. (Nasdaq: JIVE) surged $3.05 to close at $15.05 on its first trading day.   

An arbitrator sided with Rio Tinto (NYSE: RIO) in its challenge to Ivanhoe Mines Ltd.'s (NYSE: IVN) Shareholders' Rights Plan by allowing the anti-dilution rights that were granted to Rio Tinto to apply. Shares of Rio Tinto eased 5 cents to $49.06  while Ivanhoe Mines stock plunged $3.95 to $16.75.

Best Buy Co. Inc. (NYSE: BBY) reported lower third quarter earnings of 42 cents per share compared with 54 cents per share in the year ago period that fell short of analyst expectations as increased competition forced the consumer electronics retailer to lower prices. The stock price plummeted $3.87 to $24.20. 

Rosetta Resources Inc. (Nasdaq: ROSE) reported disappointing results from two exploratory wells in the Southern Alberta Basin sending the stock price plummeting $5.89 to close at $44.66.

ING Group (NYSE: ING) will swap approximately $7.76 billion in subordinated debt in exchange for senior loans and cash. The stock price lost 68 cents to close at $7.15.

Continued concerns about the European debt crisis sank shares of coal producer Alpha Natural Resources Inc. (NYSE: ANR) $2.06 to close at $21.39. 

Martin Marietta Materials Inc. (NYSE: MLM) initiated an unsolicited bid of approximately $4.74 billion in stock to acquire Vulcan Materials (NYSE: VMC). Shares of Martin Marietta climbed $2.08 to $75.45 while Vulcan Materials stock leaped $5.85 to $39.40.

Rumors circulated that Verizon Communications Inc. (NYSE: VZ) may be interested in acquiring Netflix Inc. (Nasdaq: NFLX). Shares of Netflix surged $4.93 to $75.82 while Verizon stock eased 23 cents to $38.20.   

Diamond Foods Inc. (Nasdaq: DMND) must delay filing its first quarter financial report due to an audit investigation into the accounting of certain crop payments to walnut growers. The stock price plummeted $8.77 to $31.79.

Diamond Foods Inc. (Nasdaq: DMND) must delay filing its first quarter financial report due to an audit investigation into the accounting of certain crop payments to walnut growers. The stock price plummeted $8.77 to $31.79.

Diamond Foods Inc. (Nasdaq: DMND) must delay filing its first quarter financial report due to an audit investigation into the accounting of certain crop payments to walnut growers. The stock price plummeted $8.77 to $31.79.

Pacific Ethanol Inc. (Nasdaq: PEIX) will sell $8 million worth of stock through a private placement. The stock price eased 8 cents to close at $1.21.

Shares of The McClatchy Co. (NYSE: MNI) continued climbing by rising 64 cents to close at $2.36 after reporting on Wednesday that advertising revenue was recovering.   

KeyBanc Capital Markets analyst Akshay Jagdale said that an audit committee investigation at Diamond Foods Inc. (Nasdaq: DMND) should be resolved quickly with the company unlikely to restate financials. The stock price leaped $14.01 to close at $40.56.   

E. I du Pont de Nemours and Co. (NYSE: DD) blamed slower growth and demand for lowering its full year guidance. The stock price dropped $1.47 to $45.05.

Alcatel-Lucent (NYSE: ALU) invested in cloud compute platform developer CiiNOW lifting the stock price 13 cents to $1.69. 

Thoma Bravo will take Blue Coat Systems Inc. (Nasdaq: BCSI) private in a deal valued at approximately $1.3 billion. The stock price leaped $7.69 to $25.17   

Russian Standard expressed interest in acquiring an additional 19.9% stake in Central European Distribution Corp. (Nasdaq: CEDC) lifting the stock price 93 cents to close at $6.04.

E-Commerce China Dangdang Inc. (NYSE: DANG) will launch its own digital book reader at the end of the month sending the stock price soaring 92 cents to close at $5.57. 

THQ Inc. (Nasdaq: THQI) warned that current quarter revenue will fall short of expectations sending the stock price plummeting 56 cents to close at $0.90.

American Airlines (NYSE: AMR) entered into a partnership with China's Hainan Airlines to codeshare each other's flights but the stock price fell 29 cents to $0.83 over concerns about AMR's Chapter 11 bankruptcy filing. 

A Food and Drug Administration advisory panel recommended approval of Affymax Inc.'s (Nasdaq: AFFY) peginesatide to treat anemia in dialysis patients sending the stock price soaring $2.32 to $8.18.  

IBM (NYSE: IBM) will pay a premium of approximately $440 million in cash to acquire DemandTec Inc. (Nasdaq: DMAN). Shares of IBM lost $1.80 to $192.25 while DemandTec stock leaped $4.71 to$13.14.   

Juniper Networks Inc. (NYSE: JNPR) partnered with Sojitz subsidiary NISSHO to form J Network Initiative but the stock price fell $1.41 to close at $21.31.

Investors locked in profits on Clearwire Corp. (NYSE: CLWR), whose stock price climbed yesterday after announcing a stock offering to raise $595 million. Shares of the wireless broadband services provider slipped 22 cents to close at $2.28.

Halliburton Co. (NYSE: HAL) denied allegations by BP (NYSE: BP) that it destroyed evidence related to the 2010 Deepwater Horizon explosion but the stock price tumbled $2.17 to close at $33.40. BP stock lost 53 cents to close at $43.03. 

Jaguar Mining Inc. (NYSE: JAG) announced the immediate departure of chief executive Daniel Titcomb weighing the stock price down 59 cents to $6.65.

The Talbots Inc. (NYSE: TLB) received an unsolicited acquisition offer from Sycamore Partners for a premium of $3 per share. Shares of the women's apparel retailer surged 94 cents to $2.50. 

The McClatchy Co. (NYSE: MNI) reported that advertising revenue was beginning to recover in the current quarter sending the stock price soaring 46 cents to $1.64.  

SunTrust Banks Inc. (NYSE: STI) reported sharply higher mortgage repurchase expenses in the fourth quarter sending the stock price down $1.24 to close at $18.03. 

Investors locked in profits on Synovus Financial Corp. (NYSE: SNV), whose stock price rose last week after central banks lowered the pricing on existing temporary U. S. dollar liquidity swap arrangements. The stock price slipped 11 cents to closes at $1.40.

Clearwire Corp. (Nasdaq: CLWR) will raise approximately $595 million through a stock offering. The stock price rose 25 cents to close at $2.50. 

Investors bought call options on Hecla Mining Co. (NYSE: HL). The stock price rose 52 cents to $6.50.

Darden Restaurants Inc. (NYSE: DRI) slashed its full year guidance sending the stock price plummeting $5.66 to $42.07.

John Fredriksen's Hemen Holdings will offer more than $500 million in guarantees to restructure Frontline Ltd. (NYSE: FRO) lifting the stock price 61 cents to $4.15.  

CRT Capital Group managing director Sheryl Skolnick wrote that new audits for Medicare payments for heart and orthopedic surgeries were misunderstood lifting shares of Tenet Healthcare Corp. (NYSE: THC) 52 cents to close at $4.70.

BTIG initiated coverage of Assured Guaranty Ltd. (NYSE: AGO) with a Buy rating and a price target of $35 lifting the stock price 98 cents to close at $12.23. 

Barclays Capital analyst Stephen Kim said that the housing market will begin to recover next year lifting shares of mortgage insurers MGIC Investment Corp. (NYSE: MTG) 40 cents to close at $3.46 and Radian Group Inc. (NYSE: RDN) 25 cents to close at $2.49.  

Shares of Nokia Corp. (NYSE: NOK) lost 26 cents to $5.36 after Brigantine Advisors backed their upgrade on November 17 of Research in Motion Ltd. (Nasdaq: RIMM) to a Buy rating. Research In Motion stock edged up 5 cents to $16.82.

Lazard Capital Markets upgraded Gannett Co. Inc. (NYSE: GCI) to a Buy rating lifting the stock price $1.19 to $13.10. 

SAP (NYSE: SAP) will pay a premium of approximately $3.4 billion to acquire SuccessFactors Inc. (NYSE: SFSF). Shares of SAP slipped 93 cents to $58.61 while SuccessFactors stock leaped $13.46 to $39.71.