Tuesday, October 23, 2007
Netflix Inc. (NFLX) reported higher third quarter earnings of 23 cents per share compared with 18 cents per share a year earlier. The results surpassed expectations and prompted the company to lift its fourth quarter outlook. Shares of the online DVD rental company leaped $2.98 to close at $25.99.
Earnings Drop For Ultra Clean
Ultra Clean Holdings Inc. (UCTT) blamed weak demand for a sharp drop in third quarter earnings to 16 cents per share from 25 cents per share in the year ago period and warned that fourth quarter results will fall short of expectations. The stock price tumbled $2.14 to clsoe at $13.28.
Texas Instruments Downgraded
Analysts downgraded Texas Instruments Inc. (TXN) on worries that its wireless chip business may face margin pressures sending the stock price plunging $2.84 to close at $31.43.
Level 3 Widens Losses
Level 3 Communications Inc. (LVLT) continued to struggle as it reported a wider loss and lowered its outlook for 2007 and 2008 due to a glut in bandwidth capacity. The stock price tumbled $1.04 to close at $3.28.
Income Surges For AT&T
AT&T Inc. (T) posted higher earnings and revenues that doubled as the nation's largest telecommunications company cited growth in its wireless business while completing its acquisition of BellSouth. The stock price gained 85 cents to close at $42.02.
Apple Inc. (AAPL) polished off a solid quarter with earnings that surged to $1.01 per share from 62 cents per share a year earlier as sales of its Macintosh computers, iPods and iPhones beat expectations. The stock price leaped $11.80 to close at $186.16.
Friday, October 19, 2007
Polysilicon Supply Concerns Weigh Down LDK
Concerns about a shortage of polysilicon supplies weighed down shares of LDK Solar Co. Ltd.(LDK). Shares of the solar wafer maker plunged $5.78 to close at $35.73.
PMC-Sierra Narrows Losses
PMC-Sierra Inc. (PMCS) narrowed third quarter losses to 3 cents per share from 5 cents per share last year and beat expectations as expenses dropped. Shares of the chip maker climbed 73 cents to close at $9.75.
SanDisk Earnings Tumble
Third quarter earnings tumbled to 36 cents per share from 51 cents per share for SanDisk Corp. (SNDK) due to higher costs and acquisition related charges. Shares of the flash memory drive maker plummeted $7.60 to close at $42.71.
Caterpillar Inc. (CAT) reported third quarter earnings of $1.40 per share compared with $1.14 per share a year earlier. The results fell 3 cents short of expectations prompting the heavy equipment maker to cut its full year guidance. The stock price tumbled $4.09 to close at $73.57.
Informatica Corp. (INFA) beat expectations with higher third quarter earnings of 15 cents per share compared with 10 cents per share last year. Shares of the data integration software company gained 98 cents to close at $16.74.
TempurPedic Posts Higher Earnings
TempurPedic International Inc. (TPX) reported higher third quarter earnings of 49 cents per share compared with 34 cents per share in the year ago period to surpass estimates and lifted its full year outlook. Shares of the mattress maker rose 36 cents to close at $34.04.
Thursday, October 18, 2007
IMS Falls Short
IMS Health Inc. (RX) blamed higher tax expenses for third quarter earnings that slipped to 29 cents per share from 34 cents per share in the year ago period, falling 4 cents short of expectations. Shares of the market research company plunged $6.44 to close at $23.12.
Bright Horizons Warns Of Shortfall
Bright Horizons Family Solutions Inc. (BFAM) warned that third quarter results will fall short of expectations due to lower enrollment. The stock price plummeted $7.84 to close at $38.49.
EBay Posts Loss
EBay Inc. (EBAY) posted a loss of 69 cents per share compared with earnings of 20 cents per share in the year ago period due to a significant write-down of its Skype acquisition. Shares of the online auction site dropped $2.50 to close at $38.10.
Earnings Rise For Logitech
Logitech International (LOGI) posted higher sales and profits, but noted that the computer peripheral maker will write down a portfolio of bad investments. The stock price surged $6.77 to close at $36.26.
Price Target Lifted For Paragon
Cantor Fitzgerald cited rising dry bulk rates for lifting the price target for Paragon Shipping Inc. (PRGN) sending the stock price up $1.78 to close at $25.94.
Galencia To Acquire Aspreva
Galencia Group will acquire Aspreva Pharmaceuticals Corp. (ASPV) in a deal valued at approximately $915.2 million. Shares of Aspreva jumped $3.11 to close at $25.61.
Wednesday, October 17, 2007
First Cash Disappoints
Although First Cash Financial Services Inc. (FCFS) reported higher third quarter earnings of 32 cents per share compared with 25 cents per share in the year ago period, the results fell a penny short of expectations. Shares of the pawn shop operator tumbled $2.93 to close at $20.99.
Trans1 Surges In Debut
Shares of Trans1 Inc. (TSON) leaped $9.00 to close at $24.00 in its market debut.
Although Yahoo Inc. (YHOO) reported a slight drop in third quarter earnings to $151.3 million, or 11 cents per share, compared with $158.5 million a year earlier, also 11 cents per share due to more stock on the open market, the results beat expectations. The stock price soared $2.13 to close at $28.82.
WebMD Lowers Outlook
WebMD Health Corp. (WBMD) lowered its revenue outlook while raising its profit forecast. The stock price plummeted $7.89 to close at $50.10.
Exact Sciences Needs FDA Approval
The FDA notified Exact Sciences Corp. (EXAS) that the company's PreGen-Plus colorectal screening device needs approval before going to market sending the stock price tumbling $1.30 to close at $4.72.
China TechFaith Wins Government Contract
China TechFaith Wireless Communication Technology Ltd. (CNTF) won a government contract to develop a phone for police forces in two Chinese provinces. The stock price soared $1.56 to close at $7.90.
Tuesday, October 16, 2007
Robbins & Myers Earnings More Than Double
Robbins & Myers Inc. (RBN) posted profits that more than doubled to $1.10 per share compared with 56 cents per share in the year ago period as the industrial equipment maker boosted sales and cut costs. The stock price leaped $11.05 to close at $72.14.
Immunomedics Gets Patent
Immunomedics Inc. (IMMU) was awarded a U.S. patent for an antibody used in the treatment of pancreatic cancer sending shares of the biopharmaceutical soaring 68 cents to close at $3.24.
Lululemon Lifts Forecast
Lululemon Athletica Inc. (LULU) lifted its same store sales forecast for the third quarter and expects earnings to surpass expectations. Shares of the Canadian athletic clothing retailer leaped $6.17 to close at $47.30.
ValueClick Inc. (VCLK) warned that third quarter results will come in at the low end of expectations and cut its full year sales outlook sending shares of the online advertising firm tumbling $3.23 to close at $24.55.
Ericsson Warns Of Earnings Miss
LM Ericsson Telephone Co. (ERIC) warned that third quarter sales and earnings would miss expectations. The stock price plummeted $9.60 to close at $31.33.
E. W. Scripps To Spin Off Unit
E. W. Scripps Co. (SSP) announced plans to spin off its cable and interactive units into a separate company sending the stock price soaring $3.65 to close at $45.93.
Monday, October 15, 2007
UBS Investment Research analyst J. David Anderson downgraded Dril-Quip Inc. (DRQ) saying that margins are expected to fall. Shares of the offshore drilling equipment maker plunged $3.97 to close at $49.93.
China Petroleum Upgraded
Citi Investment Research analyst Graham Cunningham upgraded China Petroleum & Chemical Corp. (SNP) saying that the stock is underpriced. Shares of the oil and gas company leaped $16.62 to close at $165.57.
Phazar Reverses Losses
Phazar Corp. (ANTP) reversed year ago losses of 4 cents per share to post a profit of 8 cents per share for the first quarter. The stock price leaped $2.95 to close at $10.52.
Level 3 CFO To Step Down
The CFO of Level 3 Communications Inc. (LVLT) planned to step down by the first quarter of 2008. The stock price fell 54 cents to close at $4.36.
Medtronic Suspends Defibrillator Sales
Shares of Medtronic Inc. (MDT) plunged $6.33 to close at $50.00 after the company suspended sales of its defibrillator due to risk of breakage.
Biogen May Sell Itself
Biogen Idec Inc. (BIIB) said that it planned to explore a sale of the company sending the stock price soaring $13.08 to close at $82.51.
Friday, October 12, 2007
GM's New Contract With UAW To Save More Than Expected
Analysts expect General Motors Corp.'s (GM) new contract with the United Auto Workers union will save the automaker more money than originally forecast. The stock price soared $2.65 to close at $42.64.
BP plc (BP) announced a restructuring plan to simplify operations sending the stock price soaring $3.61 to close at $75.43.
W-H Lowers Expectations
Analysts downgraded W-H Energy Services Inc. (WHQ) after the oil services company warned that lower revenues from its coiled tubing business will dampen third quarter results. The stock price plummeted $10.97 to close at $61.10.
Allegheny Tech Lowers Outlook
Shares of Allegheny Technologies Inc. (ATI) plunged $6.61 to close at $100.04 after the steel product maker lowered its full-year outlook.
Coldwater Creek Warns Of Loss
Apparel retailer Coldwater Creek Inc. (CWTR) unexpectedly issued a forecast for a loss instead of a profit citing more price markdowns. The stock price plummeted $3.05 to close at $7.82.