L-3 Downgraded

CIBC analyst Myles Walton questioned the timing of stock option grants at L-3 Communications Holdings Inc. (LLL) and downgraded the stock sending shares of the company plunging $4.91 to close at $72.96.

Royal Caribbean To Redeem Debt

Royal Caribbean Cruises Ltd. (RCL) announced plans to redeem $543 million worth of outstanding liquid yield option notes due in 2021. The stock price rose $2.39 to close at $38.08.

West Corp. Receives $4.1 Billion Buy Out Offer

West Corp. (WSTC) received a $4.1 billion offer from a private investor group to purchase the company. Shares of the call center operator jumped $5.37 to close at $48.52.

AMD May Purchase ATI

Speculation that ATI Technologies Inc. (ATYT) may be the target of a take-over by Advanced Micro Devices (AMD) sent shares of the graphics company up $1.36 to close at $16.51. AMD stock gained 41 cents to close at $30.89.

FDA Rejects Cardiome's Application

The Food and Drug Administration rejected Cardiome Pharma Corp.'s (CRME) application to market its heart medication RSD1235. The stock price plummeted $2.25 to close at $9.03.

ADC To Buy Andrew Corp.

ADC Telecommunications Inc. (ADCT) reported second quarter earnings that slipped to 19 cents per share from 28 cents per share in the year ago period. Separately, the broadband equipment maker offered $2 billion to purchase communications equipment maker Andrew Corp. (ANDW). Shares of ADC plunged $4.46 to close at $17.92 while Andrew stock rose 34 cents to close at $10.12.

FDA Warns Wyeth About Quality Issues

The Food and Drug Administration issued a warning letter to Wyeth (WYE) about quality control issues at its plant in Puerto Rico. Separately, Merrill Lynch analyst David Risinger downgraded the drug maker over concerns that drugs in the company's pipeline may not live up to expectations. The stock price lost $1.55 to close at $46.32.

North Carolina Will Not Support Exxon Mobile Directors

To protest excessive executive compensation at Exxon Mobile Corp. (XOM), North Carolina's pension system, which owns 11 million shares of Exxon Mobile, will withhold its votes for five directors who also served on the compensation commitee. Shares of Exxon Mobile lost $1.38 to close at $60.20.

Merck Corrects Statistical Analysis Method

Merck & Co. (MRK) corrected a statistical analysis method that was used in a study which led the pharmaceutical to withdraw its painkiller Vioxx from the worldwide market. The correction, however, did not alter the outcome of the study. The stock price dropped $1.42 to close at $33.14.

GM Downgraded

Deutsche Bank analyst Rod Lache cited higher interest rates which could hurt car sales for downgrading General Motors Corp. (GM) sending shares of the world's largest automaker tumbling $1.51 to close at $26.57.

Tribune To Repurchase Stock

Tribune Co. (TRB) announced a $2 billion stock repurchase plan which prompted an analyst upgrade. Shares of the media and entertainment company rose $2.01 to close at $29.90.

Easing Demand For NAND Chips

Barron's reported that easing demand for NAND chips may hurt SanDisk Corp. (SNDK) and Lam Research Corp. (LRCX). Shares of SanDisk lost $2.81 to close at $56.83 while Lam Research stock slipped $1.64 to close at $43.50.

Navistar International And MAN AG To Strenthen Ties

Shares of Navistar International Corp. (NAV) surged $4.16 to close at $29.01 after German truckmaker MAN AG expressed interest in strengthening ties between the two companies.

Cyberonics Narrows Losses

Cyberonics Inc. (CYBX) surprised analysts by narrowing fourth quareter losses to 21 cents per share from 26 cents per share a year earlier. The medical device maker was expected to lose 30 cents per share. The stock price jumped $3.66 to close at $26.27.

Cubist's Cubicin Approval Expanded

The Food and Drug Administration expanded its approval of Cubist Pharmaceuticals Inc.'s (CBST) Cubicin to treat Staph infections in the bloodstream. Shares of Cubist leaped $4.30 to close at $25.55.

Las Vegas Sands Lands Singapore Deal

Las Vegas Sands Corp. (LVS) secured the rights to build island nation Singapore's first casino resort. The stock price leaped $5.96 to close at $69.63.

Pacific Ethanol Places 5.5 Million Shares

Pacific Ethanol Inc. (PEIX) will sell 5.5 million shares of common stock to a group of institutional investors. Shares of the renewable fuels company plunged $2.02 to close at $29.50.

Credence Systems Halts Development Project

Credence Systems Corp. (CMOS) narrowed second quarter losses to 14 cents per share from 21 cents per share in the year ago period. However, analysts downgraded the semiconductor test equipment maker after the company announced that it will stop development of its next-generation flash memory test project. The stock price plunged $1.83 to close at $4.57.

Corning Reaffirms Outlook

Corning Inc. (GLW) reaffirmed its second quarter outlook sending its stock price up $1.31 to close at $24.56.

Omnicare Cannot Charge Premium For Services

The Centers for Medicare and Medicaid announced that providers of pharmaceuticals to participants of Medicare Part D are not allowed to charge premiums for services. Shares of Omnicare Inc. (OCR) plunged $3.54 to close at $44.46.

Workers Accept GM Buyout Offers

Shares of General Motors Corp. (GM) rose $1.39 to close at $27.90 after the Detroit News reported that over 20,000 employees have accepted buyout offers.

Wal-Mart Upgraded

Shares of Wal-Mart (WMT) rose $1.42 to close at $49.45 after Bank of America analyst David Strasser upgraded the world's largest retailer. Strasser credited the company's successful efforts for selling higher quality merchandise.

Network Appliance Reports Earnings Slip

Network Appliance Inc. (NTAP) blamed higher expenses for fourth quarter earnings that slipped to 15 cents per share from 16 cents per share in the year ago period. The stock price lost 12 cents to close at $33.36.

Sharp Sales Drop At Joy Global

Although second quarter income for Joy Global Inc. (JOYG) more than doubled to 66 cents per share from 31 cents per share a year earlier, equipment orders plunged by a third sending the stock price plummeting $4.97 to close at $49.40.

Earnings Rise For Payless ShoeSource

Payless ShoeSource Inc. (PSS) reported first quarter earnings that rose to 53 cents per share from 45 cents per share a year earlier. The discount retailer also announced the purchase of the American Eagle line of shoes from Jimlar Corp. The stock price leaped $3.77 to close at $24.65.

Biotech Up Over Avian Flu Scare

News of the first suspected case of avian flu transmitted by humans sent shares of drug makers higher with BioCryst Pharmaceuticals Inc. (BCRX) gaining $1.15 to close at $12.95. Shares of Gilead Sciences Inc. (GILD) rose $1.73 to close at $55.50 while Generex Biotechnology Corp. (GNBT) stock edged up 19 cents to close at $2.03.

XM Radio Lowers Subscriber Growth

XM Satellite Radio Holdings Inc. (XMSR) blamed a softness in sales for lowering its full year forecast for subscriber growth and revenue. The stock price tumbled $1.76 to close at $13.75.

Gold Prices Plunge

As gold futures plunged over $20 an ounce, shares of StreetTracks Gold Trust (GLD) tumbled $2.32 to close at $64.06.

GM Upgraded

Merrill Lynch analyst John Murphy cited General Motors Corp.'s (GM) restructuring plan for upgrading the world's largest automaker. The stock price climbed $2.03 to close at $26.51e.

Medtronic Earnings Up Sharply

Fourth quarter earnings for Medtronic Inc. (MDT) leaped to 62 cents per share from 16 cents per share in the year ago period prompting the company to lift its fiscal 2007 outlook. Shares of the medical device maker rose $2.22 to close at $50.17.

Copper Stocks Rise

A rebound in commodities lifted shares of copper miners with Phelps Dodge Corp. (PD) soaring $3.26 to close at $83.06. Shares of Freeport-McMoRan Copper & Gold Inc. (FCX) climbed $1.26 to close at $55.53 while shares of Sourthern Copper Corp. (PCU) gained $2.70 to close at $84.60.

Seagate Completes Purchase of Maxtor

Seagate Technology (STX) announced the completion of its $2 billion stock purchase of Maxtor Corp. Approximately half of Maxtor's employees will be terminated. Shares of Seagate fell $1.23 to close at $23.68.

Alternative Fuel Stocks Rise

Shares of alternative fuel companies rose as crude oil flirted with the $72 a barrel mark before settling at $71.76. The stock price of Pacific Ethanol Inc. (PEIX) surged $4.32 to close at $29.89 while shares of MGP Ingredients Inc. (MGPI) jumped $3.23 to close at $29.10. The Andersons Inc. (ANDE) stock leaped $8.60 to close at $97.85.

Joy Global Upgraded

An analyst upgrade lifted Joy Global Inc. (JOYG) $2.70 to close at $53.69.

HID Global To Acquire Fargo Electronics

HID Global Corp. will acquire Fargo Electronic Inc. (FRGO) for approximately $326.1 million in cash. Shares of Fargo leaped $8.48 to close at $24.71.

Energy Stocks Climb

As crude oil prices surged above $71 a barrel, shares of energy companies rose. The stock price of Valero Energy Corp. (VLO) climbed $1.62 to close at $58.69 while Peabody Energy Corp. (BTU) jumped $2.35 to close at $56.45.

Longhouse Hospitality To Buy Jameson Inns

Jameson Inns Inc. (JAMS) will be acquired for $181 million in cash by Longhouse Hospitality, an affiliate of real estate investment firm J.E. Robert Companies. Shares of Jameson climbed 56 cents to close at $2.85.

Corning Warns Of Lower Glass Volume

Shares of Corning Inc. (GLW) lost $1.21 to close at $23.29 after the company warned that LCD glass volume would drop in the second quarter due to a build-up in inventory.

Analyst Sees Lower iPod Sales

A Piper Jaffray report saying that Apple Computer Inc.'s (AAPL) iPod sales for the third quarter will fall below expectations sent shares of computer maker down $1.13 to close at $63.38.

Earnings Rise For Lowe's

Lowe's Cos. (LOW) beat expectations by 12 cents to report first quarter earnings that rose to $1.06 per share from 73 cents per share in the year ago period. However, a calendar shift that added a week to the first quarter may negatively impact second quarter results. Shares of the nation's second largest home improvement retailer dropped $2.82 to close at $59.82.

KLA-Tencor Downgraded

Analysts downgraded KLA-Tencor Corp. (KLAC) after the Wall Street Journal questioned the timing of stock option grants. The stock price tumbled $4.70 to close at $40.54.

Trident Launches Internal Investigation

Shares of Trident Microsystems Inc. (TRID) plunged $3.54 to close at $23.79 after announcing an internal investigation of stock options granted to executives from 2000 to 2004.

SafeNet Under Investigation

The stock option practices of SafeNet Inc. (SFNT) is under investigation by both the U. S. Attorney in New York and the Securities and Exchange Commission. Shares of the security software firm plunged $4.28 to close at $14.93.

Foot Locker May Be Bought Out

A newspaper article suggesting that Foot Locker Inc. (FL) may be purchased by private equity firms sent shares of the athletic footwear retailer soaring $2.44 to close at $24.58.

Sales Surge For Supertex

Surging sales lifted fourth quarter earnings for Supertex Inc. (SUPX) to 37 cents per share from 3 cents per share in the year ago period. For the first quarter, the semiconductor company expects double-digit growth. The stock price jumped $3.30 to close at $39.91.

SEC Investigates American Tower

The Securities and Exchange Commission launched an informal inquiry into the stock option practices of American Tower Corp. (AMT) sending the stock price tumbling 73 cents to close at $30.88.

Autodesk's Earnings Slip

Autodesk Inc. (ADSK) blamed higher costs for first quarter income that slipped to 20 cents per share from 23 cents per share a year earlier. Shares of the design software and services company dropped 52 cents to close at $37.49.

Marvell Technology Beats Expectations

Marvell Technology Group Ltd. (MRVL) beat expectations by 2 cents to report first quarter earnings that rose to 23 cents per share from 20 cents per share in the year ago period. The chipmaker also forecast second quarter results ahead of expectations sending the stock price soaring $6.51 to close at $56.22.

Napster Narrows Losses

Although Napster Inc. (NAPS) narrowed fourth quarter losses to 10 cents per share from 60 cents per share a year earlier, the online music service forecast first quarter results below expectations. The stock price dropped 72 cents to close at $3.21.

Yahoo Cautious About Revenue Growth

Shares of Yahoo Inc. (YHOO) lost $1.11 to close at $29.00 after the company cautioned that revenue growth for the next few years would fall in the lower end of the forecast range for the current year.

Adobe Names New CFO

Adobe Systems Inc. (ADBE) named former Sanmina-SCI Corp. (SANM) president and chief operating officer Randy Furr to replace outgoing chief financial officer Murray Demo. Shares of Adobe lost $1.03 to close at $30.17 while Sanmina stock edged up 2 cents to close at $4.90.

Omnicare Sues UnitedHealth

On the downside, shares of UnitedHealth Group Inc. (UNH) lost $1.59 to close at $45.30 after Omnicare Inc. (OCR) sued the health insurer for conspiring with PacifiCare, which UnitedHealth purchased in 2005, during contract negotiations. Omnicare stock edgd upl 6 cents to close at $55.01.

Earnings Rise For Limited Brands

Strong sales lifted first quarter earnings for Limited Brands Inc. (LTD) to 25 cents per share from 16 cents per share a year earlier, surpassing expectations by 5 cents. Shares of the women's apparel retailer climbed $1.38 to close at $26.68.

Sears Swings To Profit

Sears Holdings Corp. (SHLD) impressed with first quarter earnings of $1.14 per share compared with losses of 7 cents per share in the year ago period due to lower expenses. The results beat expectations by 49 cents sending the stock price soaring $17.89 to close at $155.85.

Oil Falls Below $69 A Barrel

Shares of oil companies dipped as crude oil retreated to settle at $68.69 per barrel. Exxon Mobil Corp. (XOM) stock fell $1.78 to close at $60.18 while shares of Chevron Corp. (CVX) dropped $1.56 to close at $58.94.

Neurocrine Continues Freefall

Analysts downgraded Neurocrine Biosciences Inc. (NBIX) after the Food and Drug Administration yesterday delayed approval of the company's insomnia treatment indiplon. Shares of Neurocrine extended losses from yesterday by falling another $1.04 to close at $19.72 while Dov Pharmceutical Inc. (DOVP) stock lost another 24 cents to close at $2.78. Dov licensed indiplon to Neurocrine.

Qualcomm Infringed On Broadcom Patents

An International Trade Commission report found that Qualcomm Inc. (QCOM) infringed on two chip design patents held by Broadcom Corp. (BRCM). Shares of Broadcom rose $1.08 to close at $37.46 while Qualcomm stock lost $1.29 to close at $46.90.

Penson Worldwide Surges In Market Debut

In its market debut, shares of technology and services provider Penson Worldwide Inc. (PNSN) surged $2.50 to close at $19.50.

Earnings Rise For NetEase.com

NetEase.com Inc. (NTES) reported first quarter earnings that rose to 26 cents per American Depositary Share from 13 cents per ADS a year earlier. However, shares of the Chinese online gaming operator lost $1.20 to close at $21.80.

GM Cuts 900 Jobs

General Motors Corp. (GM) will eliminate 900 positions at its British factory. The world's largest automaker is also restructuring its controller's office after a series of accounting errors. The stock price dropped $1.07 to close at $24.46.

Carnival Cuts 2006 Forecast

Carnival Corp. (CCL) blamed higher fuel expenses for slashing its 2006 forecast. The stock price plunged $3.94 to close at $42.60.

FDA Delays Approval Of Indiplon

Shares of Dov Phamaceuticals (DOVP) plunged more than 50%, falling $4.03 to close at $3.02, after the FDA delayed approval of Neurocrine Bioscience Inc.'s (NBIX) insomnia treatment Indiplon. Dov licenses Indiplon to Neurocrine. Neurocrine stock plummeted $33.87 to close at $20.76. Meanwhile, shares of competitor Sepracor Inc. (SEPR), which makes the sleep aid Lunesta, leaped $6.28 to close at $51.10.

Cognos Delays Annual Report

Cognos Inc. (COGN) will postpone filing its annual report while the Securities and Exchange Commission reviews company records. The stock price dropped $4.46 to close at $30.13.

NCO CEO Offers To Buy Company

NCO Group Inc. (NCOG) Chairman and Chief Executive Officer Michael Barrist offered approximately $995.5 million in cash to acquire the company. The stock price surged $6.95 to close at $26.00.

Apple Sued By Creative Technology

Shares of Apple Computer Inc. (AAPL) slumped $2.81 to close at $64.98 after Creative Technology Ltd. (CREAF) filed a patent infringement lawsuit against the maker of the iPod digital music player. Creative Technology stock edged up 29 cents to close at $5.75.

Staples' Sales Disappoint

First quarter income for Staples Inc. (SPLS) rose to 25 cents per share from 20 cents per share in the year ago period. However, same store sales in North America added a disappointing 1% sending the stock price fallling $1.60 to close at $24.82.

First Avenue and FiberTower To Merge

First Avenue Networks Inc. (FRNS) will merge with FiberTower Corp. in a $1.5 billion all stock deal. The stock price jumped $3.85 to close at $13.51.

Crude Oil Prices Retreat

Crude oil prices continued to retreat following Friday's report from the International Energy Agency that growth in global demand for energy has slowed. Shares of Valero Energy Corp. (VLO) fell $1.86 to close at $60.56 while ConocoPhillips (COP) stock lost $1.67 to close at $63.52.

Gold Prices Drop

The price of gold dropped sharply sending shares of gold related stocks down. StreetTracks Gold Trust (GLD) stock tumbled $3.62 to close at $67.50 while shares of Goldcorp Inc. (GG) plunged $3.64 to close at $33.92.

Target Misses By A Penny

Although first quarter earnings for Target Corp. (TGT) rose to 63 cents per share from 55 cents per share in the year ago period, the results fell one penny short of expectations sending the stock price tumbling $2.19 to close at $50.02.

Brookdale To Buy American Retirement

Brookdale Senior Living Inc. (BKD) will pay $1.2 billion in cash to acquire rival American Retirement Corp. (ACR) to become the largest senior living facilities operator in the nation. Shares of American Retirement leaped $7.28 to close at $32.18 while Brookdale stock surged $5.23 to close at $42.23.

Baush & Lomb Recalls ReNu

Bausch & Lomb Inc. (BOL) has recalled its ReNu with MoistureLoc solution from the worldwide market to prevent further cases of the rare fungal infection Fusarium. The stock price surged $5.64 to close at $50.08.

Agco Downgraded

The Association of Equipment Manufacturers reported a drop in tractor and combine sales in April prompting analysts to downgrade Agco Corp. (AG). Shares of the agricultural equipment maker fell $1.85 to close at $25.21.

Turkcell Downgraded

Morgan Stanley analyst Sean Gardiner downgraded Turkcell Iletisim Hizmetleri A. S. (TKC) sending shares of the Turkish mobile phone company down $1.77 to close at $15.50.

Nvidia Beats Expectations

Although Nvidia Corp. (NVDA) beat expectations by one penny to report first quarter income that rose 23 cents per share from 18 cents per share in the year ago period, the stock price tumbled $2.14 to close at $26.33.

Barr's Patent Reissue Rejected

Shares of Barr Pharmaceuticals Inc. (BRL) tumbled $2.66 to close at $50.98 after the Patent and Trademark Office rejected the company's application for a patent reissue for the birth control pill Seasonale.

Goldcorp Completes Acquisition

Goldcorp Inc. (GG) has completed its $1.6 billion deal to acquire certain Placer Dome assets from Barrick Gold Corp. The stock price lost $1.91 to close at $37.56.

Threshold's Drug Trial Suspended

The Food and Drug Administration partially suspended Threshold Pharmaceuticals Inc.'s (THLD) Phase 3 clinical trial of the prostate treatment TH-070 due to liver complications. The stock price plummeted $10.56 to close at $3.44.

Select Personnel To Buy RemedyTemp

Privately held Select Personnel Services will acquire RemedyTemp Inc. (REMX) for $169 million in cash. RemedyTemp also announced second quarter earnings of 6 cents per share compared with a loss of 15 cents per share in the year ago period. Shares of the temporary staffing services firm leaped $4.33 to close at $16.53.

JDSU Issues Notes

JDSU Uniphase Corp. (JDSU) announced plans to sell senior convertible notes through a private placement in order to raise $375 million. The stock price dropped 36 cents to close at $3.03.

Ionatron Widens Losses

Ionatron Inc. (IOTN) widened first quarter losses to 5 cents per share from 2 cents per share a year earlier sending shares of the laser guided weapons maker tumbling $1.58 to close at $11.25.

Zolteck Posts First Profit In Seven Years

Although Zolteck Companies Inc. (ZOLT) reported a second quarter loss of $1.31 per share compared with a loss of 23 cents per share last year, the company recorded a profit of $3.2 million from continuing operations, its first profit in seven years. The stock price leaped $4.60 to close at $35.59.

Possible Layoffs Spark Walkout At GM Plant

Comments of a possible layoff of nearly 1,000 workers at General Motors Corp.'s (GM) Ellesmere Port plant in England sparked an impromtu walkout of all employees on the morning shift which successfully shut down operations at the site. Shares of GM lost 78 cents to close at $25.81.

Earnings Surge For Movie Gallery

Shares of Movie Gallery Inc. (MOVI) surged $1.62 to close at $4.78 after the DVD rental company reported first quarter earnings that more than doubled to $1.27 per share from 58 cents per share in the year ago period.

Mirant Profitable After Emerging From Bankruptcy

On the upside, Mirant Corp. (MIR) reported first quarter earnings of $1.51 per share lifting its stock price up $1.19 to $25.56. Last year, the company was under Chapter 11 bankruptcy protection.

Mixed Test Results For AVI BioPharma

Mixed results from AVI BioPharma Inc.'s (AVII) hepatitis C treatment AVI-4065 sent shares of the biopharmaceutical firm plummeting $2.44 to $4.82.

Teva Reports Loss

Teva Pharmaceutical Industries Ltd. (TEVA) attributed a first quarter loss of $1.01 per ADR compared with earnings of 38 cents per ADR to costs associated with its acquisition of Ivax Corp. Shares of the Israeli generic drug maker plunged $4.27 to $38.64.

Escala Group Embroiled In Stamp Scandal

Shares of Escala Group Inc. (ESCL) plummeted $19.77 to close at $12.23. The value of the auction house plunged by more than half its value after Spanish police raided company offices and arrested eight people in a fraud investigation involving collectible stamps.

SanDisk Sells $1 Billion Notes

Analysts upgraded SanDisk Corp. (SNDK) after the company announced plans to raise $1 billion through convertible senior notes. However, shares of the flash memory products maker tumbled $1.35 to close at $63.35.

Gold Prices Surge

The price for an ounce of gold surged above $700 to settle at $701.50 for the first time in 26 years lifting mining stocks along with it. Shares of Newmont Mining Corp. (NEM) climbed $2.20 to close at $57.93 while the price of investment trust Streettracks Gold Trust (GLD) gained $2.12 to close at $69.68.

GM Upgraded

Deutsche Bank analyst Rod Lache upgraded General Motors Corp. (GM) after the nation's largest automaker revised its first quarter earnings. The stock price rose $2.25 to close at $25.80.

Class Action Lawsuit Announced Against UnitedHealth

A class action lawsuit has been announced by the Law Offices of Charles J. Piven, P. A. against UnitedHealth Group Inc. (UNH) for issuing false and misleading statements which artificially inflated the stock price. Shares of UnitedHealth tumbled $1.28 to close at $43.80.

Glenayre Reports Loss

Glenayre Technologies Inc. (GEMS) swung to a first quarter loss of 10 cents per share compared with earnings of 3 cents per share a year earlier. The communications and entertainment company cut its 2006 outlook after one of its largest clients Sprint Nextel Corp. (S) excluded the company from its voicemail vendor selection process. Shares of Glenayre plunged $2.16 to close at $3.67 while Sprint stock eased 13 cents to close at $25.01.

United Industrial Disappoints

United Industrial Corp. (UIC) disappointed with first quarter earnings that dropped to 67 cents per share from 84 cents per share in the year ago period. The stock price plummeted $13.81 to close at $53.99.

Entercom Beats Expectations

Although first quarter income for Entercom Communications Corp. (ETM) plunged to 19 cents per share from 34 cents per share a year earlier, the results beat expectations by 5 cents. Shares of the radio broadcasting company climbed $2.31 to close at $29.93.

Wheeling-Pittsburg May Enter Alliance With Companhia Siderurgica

A possible alliance between Wheeling-Pittsburg Corp. (WPSC) and Brazilian company Companhia Siderurgica Nacional (SID) lifted Wheeling-Pittsburgh stock $4.36 to close at $27.45 while shares of Companhia Siderurgica edged up 14 cents to close at $37.38.

Chicago Tribune Circulation Up

Shares of newspaper publisher Tribune Co. (TRB) rose $1.82 to close at $29.84 over a report that circulation at the Chicago Tribune edged up 0.9% even as overall newspaper circulation fell 2.6% over the six month period that ended in March.

Health Net Earnings Soar

Health Net Inc. (HNT) reported first quarter income that more than tripled to 65 cents per share from 19 cents per share a year earlier, beating expectations by 3 cents. The stock price climbed $2.50 to close at $40.64.

Teck Cominco To Acquire Inco

Canadian mining company Teck Cominco Ltd. offered $16 billion to acquire Inco Ltd. (N) on the condition that Inco drops its offer to purchase competitor Falconbridge Ltd. (FAL). The merger of Teck Cominco and Inco will create the world's largest zinc mining firm and second largest nickel company. Shares of Inco leaped $8.01 to close at $67.09 while Falconbridge stock rose $2.60 to close at $45.23.

The Sportsman's Guide Bought By Redcats

The Sportsman's Guide Inc. (SGDE) will be acquired by Redcats USA for approximately $265 million. Shares of the direct marketer of outdoor gear leaped $3.46 to close at $30.46.

Chemtura's Earnings Drop

Chemtura Corp. (CEM) blamed merger costs for first quarter earnings that tumbled to 5 cents per share from 17 cents per share last year. The stock price dropped $1.61 to close at $10.65.

Slowing Growth In eBay's Overseas Markets

Shares of eBay Inc. (EBAY) sank $1.72 to close at $32.39 after the online auctioneer admitted to slowing growth in overseas markets.

El Paso's Earnings Impress

El Paso Corp. (EP) impressed with first quarter earnings that leaped to 49 cents per share from 17 cents per share a year earlier. Shares of the oil and gas company climbed $1.69 to close at $15.18.

CFO And Chairman Of Power Integrations Both Resign

Shares of Power Integrations Inc. (POWI) edged up 10 cents to close at $19.74 after company chairman Howard Earhart and chief financial officer John Cobb both resigned their positions amidst an internal investigation into stock option grant irregularities. Restatements of past financial results may be necessary.

Activision Reports Losses

Activision Inc. (ATVI) blamed lower sales for fourth quarter losses of 3 cents per share, down from earnings of a penny per share a year earlier. The results beat expectations for losses of 8 cents per share sending the stock price up $1.67 to close at $14.76.

Conseco CEO Resigns

Conseco Inc. (CNO) announced the resignation of chief executive officer William Kirsch and warned that first quarter earnings would fall short of expectations. The stock price dropped $1.48 to $23.90.

Chico's Sales Disappoint

Shares of Chico's FAS Inc. (CHS) plunged $7.10 to close at $30.00 after reporting that April same store sales rose only 5.4%, well below the expected 7.7%.

Whole Foods Beats Expectations

Whole Foods Market, Inc. (WFMI) beat expectations by one penny to report second quarter earnings of 36 cents per share, up from earnings of 30 cents per share in the year ago period. Shares of the natural foods grocer leaped $8.27 to close at $70.42.

Ariad Wins Lawsuit Against Eli Lilly

Ariad Pharmaceuticals Inc. (ARIA) won a patent infringement lawsuit against Eli Lilly and Co. (LLY) and will be awarded $65.3 million in damages. Shares of Ariad surged $1.45 to close at $6.99 while Eli Lilly stock edged up 6 cents to close at $52.02.

ViroPharma's Earnings Fall Short

ViroPharma Inc. (VPHM) fell 9 cents short of expectations with first quarter earnings of 12 cents per share compared with 36 cents per share in the year ago period. Shares of the drug maker tumbled $1.05 to close at $9.92.

Electronic Arts Swings To Loss

Electronic Arts Inc. (ERTS) disappointed with fourth quarter losses of 5 cents per share compared with earnings of 2 cents per share last year. The game maker also forecast lackluster results for 2006 as customers delay game purchases until new game consoles are available. The stock price plummeted $5.95 to close at $48.55.

Genesis Microchip Downgraded

Analysts downgraded Genesis Microchip Inc. (GNSS) after the integrated circuit maker disappointed with losses of a penny per share compared with losses of 20 cents per share last year. The stock price plummeted $3.35 to $12.76.

Quantum To Buy Advanced Digital

Quantum Corp. (DSS) announced a $770 million deal to purchase Advanced Digital Information Corp. (ADIC&). Separately, Quantum widened fourth quarter losses to 12 cents per share from 2 cents per share a year earlier. Shares of Advanced Digital surged $3.62 to $11.89 while Quantum stock eased 43 cents to $3.05.

PDL BioPharma Disappoints

Although PDL BioPharma Inc. (PDLI) narrowed first quarter losses to 23 cents per share from losses of 87 cents per share in the year ago period, the results fell short of expectations prompting the biotechnology firm to reduce its revenue forecast. The stock price plunged $7.59 to $20.00.

TXU Reverses Losses

TXU Corp. (TXU) attributed improved margins for reversing losses to report first quarter income of $1.22 per share compared with losses of 10 cents per share a year earlier. The stock price leaped $3.90 to $53.81.

Visteon Swings To Profit

Visteon Corp. (VC) swung to a profit with first quarter earnings of 2 cents per share compared with losses of $1.30 per share in the year ago period. The upbeat results prompted the company lift its full year forecast sending shares of the auto parts supplier soaring $1.16 to $7.02.

Vical Vaccine Effective Against Bird Flu

Vical Inc. (VICL) reported that its experimental vaccine protected animals against the bird flu virus. Clinical trials on human subjects is next. The stock price surged $1.59 to $7.09.

Gevity Reports Higher Income

First quarter income for Gevity HR Inc. (GVHR) rose to 30 cents per share from 26 cents per share in the year ago period. The stock price climbed $2.86 to close at $28.55.

XM Satellite Price Target Lowered

Shares of XM Satellite Radio (XMSR) lost $1.57 to close at $18.71 after Morgan Stanley analyst Benjamin Swinburne lowered his price target on the stock to $31.

Earnings Drop For Laserscope

Laserscope Inc. (LSCP) blamed delayed orders for first quarter earnings that dropped to 12 cents per share from 22 cents per share a year earlier. The medical device maker also announced its acquisition of privately held InnovaQuartz Inc. Shares of Laserscope dropped $3.05 to close at $20.71.

Aramark May Go Private

Aramark Corp. (RMK) chief executive Joseph Neubauer and a group of investors offered approximately $5.8 billion to purchase the food service provider and take the company private sending the stock price surging $5.79 to close at $33.90.

Court Sides With Teva

A U. S. District Court sided with Teva Pharmaceutical Industries Ltd. (TEVA) by sending the company's application for exclusive rights to sell a generic version of the anti-cholesterol drug Zocor back to the Food and Drug Administration. The stock price climbed $1.61 to close at $42.11.

Three Executives Resign At Comverse

Shares of Comverse Technology Inc. (CMVT) rose $1.00 to close at $23.65 after chief executive Kobi Alexander and two other executives resigned amidst an internal investigation into the timing of stock option grants.