January 2012 Archives

Tellabs Inc. (Nasdaq: TLAB) narrowed fourth quarter losses to a penny per share from 3 cents per share in the year ago period but the communications equipment maker announced the elimination of 530 jobs sending the stock price down 39 cents to close at $3.80.

Shares of electronic payment solutions firm VeriFone Systems Inc. (NYSE: PAY) soared $3.29 to close at $42.70 on news that MasterCard Inc. (NYSE: MA) would introduce new credit cards with EMV technology. MasterCard stock climbed $3.60 to close at $355.57.

A Seeking Alpha contributor affirmed a Strong Buy rating for Gafisa SA (NYSE: GFA). Shares of the Brazilian homebuilder rose 30 cents to close at $5.42.

RadioShack Corp. (NYSE: RSH) warned of sharply lower fourth quarter earnings that will fall far short of analyst expectations and suspended its stock repurchase program sending the stock price plunging $3.05 to $7.19.  

U. S. Steel Corp. (NYSE: X) narrowed fourth quarter losses to $1.57 per share from $1.74 per share a year earlier as revenue rose to surpass estimates. The stock price climbed $1.80 to $30.53.

DA Davidson downgraded Polypore International Inc. (NYSE: PPO) to an Underperform rating sending the stock price plummeting $14.29 to $40.05. 

Shares of Chinese social networking site Renren Inc. (NYSE: RENN) surged $1.06 to close at $6.31 over reports that Facebook may file for its initial public offering this Wednesday.

A Seeking Alpha contributor wrote that Arena Pharmaceuticals Inc. (Nasdaq: ARNA) has an upside potential of 300% in 2012. The stock price climbed 18 cents to close at $1.77.

Hyperdynamics Corp. (NYSE: HDY) will raise approximately $30 million through a registered direct offering sending the stock price tumbling 77 cents to close at $2.60.  

The Food and Drug Administration approved Amylin Pharmaceuticals' (Nasdaq: AMLN) diabetes treatment Bydureon on Friday. The stock price soared $2.12 to $14.26.

ABB will pay approximately $3.9 billion in cash to acquire Thomas & Betts Corp. (NYSE: TNB) sending the stock price soaring $13.15 to $71.10.

Gores Group will take Pep Boys - Manny, Moe & Jack (NYSE: PBY) private for approximately $791 million in cash. The stock price leaped $2.84 to $14.92. 

Riverbed Technology Inc. (Nasdaq: RVBD) reported higher fourth quarter earnings of 12 cents per share compared with 8 cents per share in the year ago period as revenue climbed but the company warned of a drop in the growth of its Steelhead product line in the first quarter. The stock price plummeted $5.61 to $24.31.  

Eastman Chemical Co. (NYSE: EMN) will pay approximately $3.38 billion in cash and stock to acquire Solutia Inc. (NYSE: SOA). Shares of Eastman Chemical soared $2.76 to $49.88 while Solutia stock leaped $7.78 to $27.29.

Emulex Corp. (NYSE: ELX) reversed year ago losses of 47 cents per share to post a better than expected profit for the second quarter of 17 cents per share and forecast third quarter results that topped analyst estimates. The stock price climbed $1.38 to $10.65. 

Goldman Sachs downgraded E-trade Financial Corp. (Nasdaq: ETFC) after the online brokerage fell to an unexpected fourth quarter loss. The stock price tumbled $1.37 to close at $7.99.

Fourth quarter earnings for SanDisk Corp. (Nasdaq: SNDK) tumbled to $1.14 per shares from $2.01 per share a year earlier as expenses climbed and the flash memory maker warned of weakness in the first half of 2012. The stock price plummeted $5.95 to close at $46.39. 

United Continental Holdings Inc. (NYSE: UAL) narrowed fourth quarter losses more than expected to 42 cents per share from $1.01 per share in the year ago period as expenses related to the merger of United and Continental dropped. Shares of the airliner climbed $1.29 to close at $21.70.

LSI Corp. (NYSE: LSI) narrowed fourth quarter losses and forecast first quarter results ahead of estimates lifting the stock price 81 cents to $7.89.

Amgen Inc. (Nasdaq: AMGN) will pay approximately $1.16 billion in cash to acquire Micromet Inc. (Nasdaq: MITI). Shares of Amgen slipped  90 cents to $68.31 while Micromet stock leaped $2.64 to $10.92.

J.C. Penney Co. Inc. (NYSE: JCP) announced a new pricing strategy and logo and will redesign the layout of its stores sending the stock price soaring $5.25 to $39.53. 

LM Ericsson Telephone Co. (Nasdaq: ERIC) reported sharply lower fourth quarter earnings as gross margin fell sending the stock price down $1.58 to close at $8.65.

Textron Inc. (NYSE: TXT) swung to a loss for the fourth quarter of 7 cents per share compared with income of 19 cents per share last year but the results were better than expected and the company forecast 2012 results above analyst expectations. The stock price surged $3.15 to close at $24.76.

Fourth quarter earnings slipped for US Airways Group Inc. (NYSE: LCC) to 11 cents per share from 17 cents per share a year earlier but the results surpassed analyst expectations by a wide margin and the airliner confirmed that it was exploring the possibility of merging with bankrupt American Airlines. The stock price climbed $1.11 to close at $7.52.

Corning Inc. (NYSE: GLW) disappointed with sharply lower fourth quarter earnings of 31 cents per share compared with 66 cents per share a year earlier and warned that the company will lower glass prices this quarter. The stock price dropped $1.50 to $13.12. 

Roche announced a $5.7 billion hostile bid for Illumina Inc. (Nasdaq: ILMN) sending the stock price soaring $16.83 to $54.52. 

Xerox Corp (NYSE: XRX) reported fourth quarter earnings that more than doubled to 26 cents per share from 12 cents per share in the year ago period but revenue fell short of expectations weighing the stock price down 79 cents to $7.88.

Zions Bancorp (Nasdaq: ZION) reversed year ago losses of 62 cents per share to post a profit for the fourth quarter of 24 cents per share but the results missed expectations sending the stock price tumbling $1.40 to close at $17.15.

InterDigital Inc. (Nasdaq: IDCC) will not sell itself and focus on monetizing its vast portfolio of patents. Shares of the digital wireless solutions company plummeted $8.56 to close at $35.89.

Fourth quarter earnings surged for Polycom Inc. (Nasdaq: PLCM) to 28 cents per share from 19 cents per share a year earlier to surpass analyst expectations by a wide margin. The stock price soared $2.43 to close at $20.85.

Analysts expect Nokia Corp.'s (NYSE: NOK) earnings and sales to drop as the company's market share continues to shrink. Shares of the mobile device maker lost 45 cents to $5.29.

EMC Corp. (NYSE: EMC) reported record revenue and earnings of 38 cents per share compared with 29 cents per share a year earlier for the fourth quarter lifting the stock price $1.58 to $25.02.

Second quarter earnings slipped for Western Digital Corp. (NYSE: WDC) to 61 cents per share from 96 cents per share in the year ago period due to floods in Thailand but the results beat analyst expectations and the company forecast current quarter results ahead of estimates. Shares of the hard disk drive maker climbed $2.13 to $36.84.

JP Morgan downgraded McMoRan Exploration (NYSE: MMR) to an Underweight rating sending the stock price down 76 cents to close at $12.61. 

Pan American Silver Corp. (Nasdaq: PAAS) will pay approximately $1.49 billion in cash and stock to acquire Minefinders. The stock price plunged $2.43 to close at $22.29.

Shares of Cell Therapeutics Inc. (NYSE: CTIC) continued to rise by gaining 15 cents to close at $1.46 after announcing that the Eurpean Medicines Agency's Committee for Medicinal Products for Human Use may issue an opinion of the company's Marketing Authorization Application for Pixuvri in mid-February.

An announcement by Chesapeake Energy Corp. (NYSE: CHK) this morning that it would cut natural gas production this year lifted shares of rival natural gas companies Southwestern Energy Co. (NYSE: SWN) $3.08 to $32.51, Cabot Oil & Gas Corp. (NYSE: COG) $4.41 to $65.53, Range Resources Corp. (NYSE: RRC) $4.30 to $58.32 and Forest Oil Corp. (NYSE: FST) $1.58 to $14.49. Chesapeake Energy stock climbed $1.33 to $22.29. 

Shares of Columbia Laboratories Inc. (NYSE: CBRX) continued falling by plummeting 88 cents to $0.70 after a Food and Drug advisory panel rejected Columbia Laboratories' preterm birth prevention gel Prochieve on Friday. 

Research In Motion Ltd. (Nasdaq: RIMM) announced the appointment of Thorsten Heins to the position of chief executive replacing co-chief executives Mike Lazaridis and Jim Balsillie, who have resigned. Shares of the Blackberry maker fell $1.13 to $15.87.

The Federal Bureau of Investigations charged Cogent Communications Group Inc. (Nasdaq: CCOI) client Megaupload.com with copyright infringement and shut down the content sharing website. Shares of Cogent plummeted $3.51 to $15.30.

CNBC reported that Talbots Inc. (NYSE: TLB) may be engaged in negotiations to be acquired by Golden Gate or TPG sending the stock price up 50 cents to close at $3.19. 

Cell Therapeutics Inc. (Nasdaq: CTIC) anticipates an opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use in mid-February for its Marketing Authorization Application for Pixuvri. The stock price added 17 cents to close at $1.31.

Capital One Financial Corp. (NYSE: COF) disappointed with sharply lower fourth quarter earnings of 88 cents per share compared with $1.52 per share a year earlier as expenses increased. Shares of the bank plunged $2.97 to $45.81.

Google Inc. (Nasdaq: GOOG) reported higher fourth quarter earnings of $8.22 per share compared with $7.81 per share in the year ago period but the results fell short of expectations as advertising prices fell. The stock price plummeted $55.78 to $583.79. 

First quarter earnings slipped for Skyworks Solutions Inc. (Nasdaq: SWKS) to 30 cents per share compared with 32 cents per share last year but the results topped analyst estimates and the chipmaker forecast current quarter results ahead of expectations. The stock price soared $2.06 to $21.29. 

MEMC Electronic Materials Inc. (NYSE: WFR) will spend $4.6 billion over five years to build solar power plants in Japan. The stock price lost 26 cents to close at $4.66.

The TUV Rheinland Group granted Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) Product Carbon Footprint Verification for its multi-crystalline and mono-crystalline PV modules but the stock price dropped 65 cents to close at $4.45. 

Investors locked in profits of JA Solar Holdings Co. Ltd. (Nasdaq: JASO) and Suntech Power Holdings Co. Ltd. (NYSE: STP), whose stock prices soared recently over expectations of a solar rebound. Shares of JA Solar fell 31 cents to close at $1.80 while Suntech stock lost 50 cents to close at $3.20.

Investors locked in profits on Energy Conversion Devices Inc. (Nasdaq: ENER), whose stock price surged after paying down debt last week. The stock tumbled 28 cents to close at $0.99.

Johnson Controls Inc. (NYSE: JCI) reported higher first quarter revenue and earnings of 60 cents per share compared with 55 cents per share a year earlier but the results missed analyst expectations and the company cut its outlook for the year. Shares of the auto parts maker plummeted $3.12 to close at $32.46. 

Third quarter earnings and revenue surged for 8x8 Inc. (Nasdaq: EGHT) to 4 cents per share from 2 cents per share in the year ago period to top analyst expectations. The stock price soared 85 cents to close at $4.26.

Bargain hunters snapped up shares of Columbia Laboratories Inc. (Nasdaq: CBRX), whose stock price plummeted yesterday after the Food and Drug Administration released a staff report saying that the company's preterm birth prevention gel was ineffective. The stock price surged 38 cents to close at $1.47.

A Seeking Alpha contributor wrote that the solar industry will rebound lifting shares of JA Solar Holdings Co. Ltd. (Nasdaq: JASO) and Suntech Power Holdings Co. Ltd. (NYSE: STP). Shares of JA Solar rose 24 cents to close at $2.11 while Suntech stock gained 49 cents to close at $3.70.

Sunoco Inc. (NYSE: SUN) completed the spin-off of SunCoke Energy Inc. (NYSE: SXC). Shares of Sunoco gained $1.87 to close at $37.07 while SunCoke stock lost 54 cents to close at $12.86

Fourth quarter earnings for State Street Corp. (NYSE: STT) soared  to 76 cents per share from 16 cents per share a year earlier but the results missed analyst expectations sending the stock price tumbling $2.75 to $40.00.

UBS downgraded GenOn Energy Inc. (NYSE: GEN) to a Sell rating weighing the stock price down 20 cents to $2.16.  

Bank of New York Mellon Corp. (NYSE: BK) cited restructuring charges for lower fourth quarter earnings of 42 cents per share compared with 54 cents per share in the year ago period that fell short of analyst expectations. The stock price lost 99 cents to $20.28. 

Citigroup Inc. (NYSE: C) disappointed with lower fourth quarter earnings of 38 cents per share compared with 43 cents per share in the year ago period that fell far short of analyst expectations sending the stock price tumbling $2.53 to close at $28.22.  

Pembina Pipeline will acquire Provident Energy Ltd. (NYSE: PVX) in a stock deal valued at approximately $3.1 billion sending the stock price soaring $2.03 to close at $11.34.

A Food and Drug Administration staff report said that Columbia Laboratories Inc.'s (Nasdaq: CBRX) and Watson Pharmaceuticals' (NYSE: WPI) progesterone gel to prevent preterm birth was ineffective. Shares of Columbia plummeted $1.31 to close at $1.10 while Watson Pharmaceutical stock sank $4.23 to close at $57.98. 

Kinross Gold Corp. (NYSE: KGC) warned of higher production costs for 2012 sending the stock price plummeting $2.12 to $10.53.

Carnival Corp. (NYSE: CCL) cruise ship Costa Concordia partially sank off the coast of Italy on Friday, killing at least six people. The stock price plunged $4.82 to $29.46.

R. R. Donnelly & Sons Co. (Nasdaq: RRD) forecast 2011 revenue below analyst expectations sending the stock price tumbling $2.14 to $12.27.

Raymond James downgraded JA Solar Holdings Co. Ltd. (Nasdaq: JASO) to an Underperform rating sending the stock price down 20 cents to close at $1.82.

A 21% drop in December video game hardware and software sales weighed down shares of Electronic Arts Inc. (Nasdaq: EA) $1.47 to close at $18.04.  

Idenix Pharmaceuticals Inc. (Nasdaq: IDIX) engaged in discussions to identify a partner to jointly develop a drug cocktail to treat hepatitis C. The stock price climbed $1.71 to close at $14.42.

Patriot Coal Corp. (NYSE: PCX) cited weak demand for lowering coal production in West Virginia. The stock price tumbled $1.16 to $7.86.

Archer Daniels Midland Co. (NYSE: ADM) will end its Telles biodegradable plastics joint venture with Metabolix Inc. (Nasdaq: MBLX). Shares of Archer Daniels eased 17 cents to $28.97 while Metabolix stock plummeted $3.37 to $2.62.

Westlake Chemical offered approximately $1.03 billion in cash to acquire Georgia Gulf Corp. (NYSE: GGC) sending the stock price soaring $8.38 to $32.86. 

Infosys Ltd. (Nasdaq: INFY) reported higher third quarter earnings of 80 cents per American Depositary Share compared with 69 cents per ADS that met expectations but forecast current quarter results below estimates. Shares of the information technology services firm plummeted $5.02 to close at $51.85.

Law firm Block & Leviton initiated an investigation into Health Management Associates Inc. (Nasdaq: HMA) for possible securities law violations sending the stock price down 41 cents to close at $5.91.

WPX Energy Inc. (NYSE: WPX) reported production at its Bakken Shale of 6,400 barrels of oil equivalent per day in October 2011 and expects to increase production to 20,000 BOE per day by the end of 2012. The stock price lost 85 cents to close at $15.66. 

Williams-Sonoma Inc. (NYSE: WSM) cut its fourth quarter earnings outlook due to more discounts during the holiday shopping season. The stock price plunged $4.89 to $34.19.

Dick's Sporting Goods Inc. (NYSE: DKS) announced a $200 million stock repurchase plan and narrowed its earnings guidance for the fourth quarter as well as the full year. Shares of the retailer leaped $4.48 to $40.88.

A Seeking Alpha contributor established a $105 per share price target on Molycorp Inc. (NYSE: MCP) lifting the stock price $1.92 to $29.56. 

A Seeking Alpha contributor listed MEMC Electronic Materials Inc. (NYSE: WFR) as one of five inexpensive technology stocks with great upside potential lifting the stock price 84 cents to close at $4.75. 

Shares of JA Solar Holdings Co. Ltd. (Nasdaq: JASO) climbed 50 cents to close at $1.94, Suntech Power Holdings Co. Ltd. (NYSE: STP) gained 70 cents to close at $3.26 and Trina Solar Ltd. (NYSE: TSL) soared $2.13 to close at $9.43 after Deutsche Bank analyst Vishal Shah wrote that solar panel demand is expected to be strong in the first half of the year. 

Lennar Corp. (NYSE: LEN) reported a sharp increase in new orders lifting rival homebuilder KB Home (NYSE: KBH). Shares of Lennar climbed $1.55 to $22.31 while KB Home stock gained $1.08 to $8.78.

The Mine Safety and Health Administration ordered Hecla Mining Co. (NYSE: HL) to close the Silver Shaft at the Lucky Friday mine in order to remove built-up material. The mining company also cut its 2012 silver production guidance sending the stock price tumbling $1.40 to $4.44.

Urban Outfitters Inc. (Nasdaq: URBN) chief executive Glen Senk resigned prompting downgrades. The stock price plummeted $5.11 to $24.30. 

PHH Corp. (NYSE: PHH) will offer $150 million in convertible senior notes. The stock price lost 70 cents to close at $10.23.

Tiffany & Co. (NYSE: TIF) cut its full year sales outlook as holiday sales growth slowed sending the stock price plunging $7.00 to close at $59.94.

WebMD Health Corp. (Nasdaq: WBMD) ended discussions to sell itself to several potential suitors and announced the resignation of chief executive Wayne T. Gattinella. The stock price plummeted $10.48 to close at $26.25.

Health Management Associates Inc. (NYSE: HMA) raised its fourth quarter outlook but investors focused on a lawsuit filed by a former employee. The stock price tumbled $1.50 to $5.46.

Lululemon Athletica Inc. (Nasdaq: LULU) lifted its fourth quarter earnings and revenue guidance as the company increased inventory. Shares of the athletic apparel retailer leaped $6.54 to $59.98. 

Goodyear Tire & Rubber Co. (NYSE: GT) discussed challenging trends at the 2012 Deutsche Bank Global Auto Industry Conference sending the stock price down $1.30 to $13.98. 

A blog on Chinese social networking site Tianya alleged that Perfect World Co. Ltd. (Nasdaq: PWRD) was under investigation for fraud sending the stock price plummeting $3.19 to close at $8.81.  

Netflix Inc. (Nasdaq: NFLX) launched its subscription Internet streaming service in the United Kingdom and Ireland sending the stock price soaring $11.89 to close at $98.18.  

Idenix Pharmaceuticals Inc. (Nasdaq: IDIX) reported positive interim data for its hepatitis C treatment IDX184 and will begin a phase I clinical trial of IDX719. Shares of the biopharmaceutical leaped $2.61 to close at $9.66.

Shares of Dendreon Corp. (Nasdaq: DNDN) continued climbing by gaining $1.51 to $13.86 after reporting better than expected sales of its prostate cancer drug Provenge last week.

Stifel Nicolaus expects Juniper Networks Inc. (NYSE: JNPR) to report earnings that meet expectations. The stock price climbed $1.42 to $21.85. 

Inhibitex Inc. (Nasdaq: INHX) will be acquired by Bristol-Myers Squibb Co. (NYSE: BMY) for approximately $2.5 billion in cash. Shares of Inhibitex more than doubled by leaping $13.90 to $23.76 while Bristol-Myers stock slipped 37 cents to $33.85. 

RF Micro Devices Inc.'s (Nasdaq: RFMD) earnings warning weighed down shares of rival Spreadtrum Communications Inc. (Nasdaq: SPRD) $4.28 to close at $14.98. Shares of RF Micro Devices tumbled $1.10 to close at $4.54.

Shares of Canadian oil and gas company Talisman Energy Inc. (Nasdaq: TLM) fell 80 cents to close at $12.36 after Canada reported disappointing December jobs data.  

US News & World Report listed Weight Watchers International Inc. (NYSE: WTW) again as the Best Weight-Loss Diet and Best Commercial Diet Plan on its second annual Best Diets rankings sending the stock price soaring $5.48 to close at $68.00. 

Vical Inc. (Nasdaq: VICL) priced its public offering of approximately 13 million common shares at the discounted price of $3.75 per share sending the stock price down 58 cents to $3.70. 

RF Micro Devices Inc. (Nasdaq: RFMD) warned that third quarter revenue will fall short of expectations prompting downgrades. The stock price plunged $1.11 to $4.53.

Shares of Dendreon Corp.(Nasdaq: DNDN) continued climbing by advancing $1.43 to $12.05 after announcing yesterday that sales of its prostate cancer treatment Provenge surpassed expectations.  

Rumors that the federal government may introduce a plan to jumpstart mortgage refinancing lifted shares of Bank of America Corp. (NYSE: BAC) 50 cents to close at $6.31. 

Sirius XM Radio Inc. (Nasdaq: SIRI) added approximately 1.7 million subscribers in 2011 bringing its total to nearly 21.9 million subscribers. Shares of the satellite radio services company rose 21 cents to close at $2.04. 

Wedbush upgraded LSI Corp. (NYSE: LSI) to an Outperform rating and lifted its price target to $8.50 per share from $7 per share. The stock price gained 48 cents to close at $6.70.

American Eagle Outfitters Inc. (NYSE: AEO) cited more aggressive promotions for lowering its fourth quarter earnings guidance. The stock price dropped $1.94 to $13.22.

Barnes & Noble Inc. (NYSE: BKS) lowered its full year outlook and said that it is exploring options for its Nook e-book reader business including the possibility of spinning off the unit. Shares of the book retailer plunged $2.87 to $10.68.

Dendreon Corp (Nasdaq: DNDN) reported preliminary fourth quarter sales of its prostate cancer treatment Provenge that were better than analyst expectations sending the stock price soaring $3.40 to $11.00. 

TiVo Inc. (Nasdaq: TIVO) will receive $215 million from AT&T Inc. (NYSE: T) to settle a patent infringement suit. Shares of TiVo gained 90 cents to close at $9.82 while AT&T stock edged up 5 cents to close at $30.43.

While Motley Fool said that Alcatel-Lucent (NYSE: ALU) is not likely to file for bankruptcy in 2012, the company must pursue a path to profitability. The stock price lost 10 cents to close at $1.60. 

MetroPCS Communications Inc. (NYSE: PCS) will begin offering cellphones with the capability to receive live local television broadcasts but analysts questioned whether demand exists for such a service sending the stock price down 60 cents to close at $8.79. 

Netflix Inc. (Nasdaq: NFLX) subscribers streamed an impressive two billion plus hours of television shows and movies in the fourth quarter. The stock price leaped $8.21 to close at $80.45. 

Amarin Corp. (Nasdaq: AMRN) priced its offering of $150 million in exchangeable senior notes at an initial exchange price of approximately $8.81 per American Depositary Share. Shares of the biopharmaceutical lost 70 cents to close at $6.35.

Acme Packet Inc. (Nasdaq: APKT) forecast fourth quarter results below analyst estimates and cut its full year guidance citing uncertainty in the North American service provider market. The stock price plummeted $6.11 to close at $25.70. 

Janney Capital Markets analyst David Strasser downgraded Williams-Sonoma Inc. (NYSE: WSM) to a Sell rating sending the stock price down $1.56 to close at $36.94. 

Canaccord Genuity lowered its price target on Universal Display Corp. (Nasdaq: PANL) and cut its license revenue assumption from client Samsung sending the stock price plummeting $4.08 to close at $32.61.  

Bargain hunters lifted shares of A123 Systems Inc. (Nasdaq: AONE) 35 cents to close at $1.96, whose stock price fell last week after a battery defect prompted Fisker to recall 239 Karma electric sports cars.  

Analysts lowered their price target on FirstEnergy Corp. (NYSE: FE) sending the stock price down $1.76 to $42.54.

MGIC Investment Corp. (NYSE: MTG) added $200 million to its insurance unit Mortgage Guaranty in order to continue writing new policies. The stock price lost 29 cents to $3.44.

A cut in the inflation forecast for Brazil prompted speculation that lower borrowing costs will entice more consumers to purchase new homes. Shares of homebuilder Gafisa S.A. (NYSE: GFA) rose 47 cents to $5.07.