Monday, July 31, 2006
BWS Financial analyst Hamed Khorsand upgraded Rambus Inc. (RMBS) as the memory chip maker settled a patent infringement lawsuit filed against Hynix Semiconductor Inc. Rambus stock rose $1.98 to close at $17.63.
Airline Stocks Fall
Record crude oil prices weighed down airline stocks with Continental Airlines Inc. (CAL) tumbling $2.12 to close at $26.34 while shares of AMR Corp. (AMR) dropped $1.25 to close at $22.00.
Coal Companies Surge
Shares of rival coal companies surged after Massey Energy Co.'s (MEE) earnings plunged. Arch Coal Inc. (ACI) stock surged $3.24 to close at $37.94 while the stock price of Peabody Energy Corp. (BTU) soared $3.90 to close at $49.90. Shares of Massey rose $1.67 to close at $26.72.
Avon Products Inc. (AVP) blamed disappointing sales for second quarter earnings that plunged to 33 cents per share from 69 cents per share a year earlier sending shares of the beauty products company tumbling $3.82 to close at $28.99.
Humana's Earnings Rise
Humana Inc. (HUM) reported second quarter earnings that rose to 53 cents per share from 49 cents per share in the year ago period. Shares of the health insurer surged $4.39 to close at $55.93.
Strong demand for Apple Computer Inc.'s (AAPL) MacBook and iPod prompted Bank of America to upgrade the company and lift its price target for the stock. The stock climbed $2.37 to close at $67.96.
Friday, July 28, 2006
Genitope Must Continue Trial
A safety monitoring board recommended that Genitope Corp. (GTOP) continue its clinical trials of the cancer vaccine MyVax. The stock price plummeted $2.71 to close at $2.87.
Upbeat Outlook Lifts Lawson
Despite a filing delay for its fiscal 2006 results, shares of Lawson Software Inc. (LWSN) rose $1.12 to close at $6.77 on the business application software company's upbeat fiscal 2008 outlook.
XM Radio Widens Losses
XM Satellite Radio Holdings Inc. (XMSR) widened second quarter losses to 87 cents per share from 70 cents per share last year and cut its subscriber forecast. However, the results were better than expected sending the stock price surging $1.78 to close at $12.67.
Rackable Systems' Outlook Disappoints
Although Rackable Systems Inc. (RACK) reported strong second quarter earnings of 18 cents per share compared with 7 cents per share in the year ago period, the server company forecast below expectations prompting downgrades. The stock price plummeted $13.68 to close at $21.23.
Celestica Inc. (CLS) swung to loss of 13 cents per share compared with earnings of 6 cents per share a year earlier. However, the results beat expectations prompting upgrades which lifted the stock price $1.67 to close at $9.54.
Earnings Surge For FormFactor
FormFactor Inc. (FORM)reported earnings that surged to 32 cents per share from 12 cents per share a year ago, beating expectations by 4 cents. The stock price leaped $6.85 to close at $42.25.
Thursday, July 27, 2006
Plexus Offers Disappointing Forecast
Plexus Corp. (PLXS) swung to a third quarter profit of 53 cents per share compared with a loss of 50 cents per share last year, but the electronics manufacturer guided below expectations sending the stock price plunging $10.71 to close at $22.89.
Kendle Falls Short
Shares of Kendle International Inc. (KNDL) plummeted $8.54 to close at $27.06 after reporting second quarter earnings that fell short of expectations.
Deluxe Announces Cost Saving Plan
Although Deluxe Corp. (DLX) swung to a second quarter loss of 5 cents per share compared with earnings of 83 cents per share last year, shares of the printing services company climbed $2.12 to close at $15.87 after announcing a cost saving plan to save at least $150 million.
Questar Earnings Jump
Earnings for Questar Corp. (STR) surged to $1.03 per diluted share compared to 70 cents per diluted share a year earlier. The stock price jumped $5.83 to close at $87.52.
Harris Income Surges
Fourth quarter earnings surged for Harris Corp. (HRS) to 61 cents per share from 44 cents per share a year earlier prompting the company to lift its 2007 outlook. Shares of the communications product maker jumped $4.45 to close at $43.14.
Wednesday, July 26, 2006
Mylan Earnings Surged
First quarter earnings for Mylan Laboratories Inc. (MYL) climbed to 35 cents from 16 cents per share in the year ago period prompting the generic drug maker to lift its full year forecast. The stock price gained $2.04 to close at $22.29.
Choice Hotels Downgraded
Analysts downgraded Choice Hotels International Inc. (CHH) after the hotel franchisor missed earnings by 2 cents to report second quarter earnings of 36 cents per share compared with 32 cents per share last year. The stock price plummeted $14.65 to $44.20.
BE Aerospace Buys Draeger
BE Aerospace Inc. (BEAV) purchased Draeger Aerospace GmbH for approximately $80 million in cash. Shares of the aircraft interior maker surged $3.00 to $23.22.
Panera Guides Below Expectations
Panera Bread Co. (PNRA) met expectations with second quarter earnings of 44 cents per share compared with 33 cents per share last year. The stock price plunged $7.34 to close at $51.93 after the company guided below expectations.
Martha Stewart Narrows Losses
Martha Stewart Living Omnimedia Inc. (MSO)narrowed second quarter losses to 2 cents per share from losses of 65 cents per share a year earlier as advertising revenue surged. The stock price climbed $1.59 to close at $16.99.
Yankee Candle May Sell Itself
Second quarter earnings dropped for Yankee Candle Co. Inc. (YCC) to 12 cents per share from 19 cents per share a year earlier. However, the stock price surged $3.97 to close at $26.05 on news that the company is considering selling itself.
Tuesday, July 25, 2006
Wabtec Earnings Fall Short
Despite improved margins, earnings fell short for Wabtec Corp. (WAB). The train braking equipment maker reported second quarter earnings of 43 cents per share compared with 32 cents per share a year earlier sending the stock price plunging $7.00 to close at $25.45.
Buffet's To Acquire Ryan's
Buffet's Inc. will acquire Ryan's Restaurant Group Inc. (RYAN) in a deal worth approximately $876 million. Shares of the restaurant chain surged $4.48 to close at $15.70.
Momenta Partners With Novartis
Momenta Pharmaceuticals Inc. (MNTA) entered a deal with Novartis AG (NVS) to develop four generic drugs. Shares of Momenta surged $4.97 to close at $18.02 while Novartis stock eased 53 cents to close at $55.44.
Earnings Climb For AT&T
Strong growth from its wireless joint venture lifted second quarter earnings for AT&T Inc. (T) to 46 cents per share from 30 cents per share in the year ago period. Shares of the telecommunications company climbed $1.17 to close at $28.95.
3M Co. (MMM) blamed slim margins for earnings that fell 2 cents short of expectations. For the second quarter, income rose to $1.15 per share, up from 96 cents per share last year. The stock price tumbled $3.58 to close at $68.11.
NutriSystem's Results Impress
NutriSystem Inc. (NTRI) beat expectations with second quarter earnings of 53 cents per share compared with 12 cents per share a year earlier. The impressive results prompted the weight management services company to raise its full year forecast. However, the departure of president and COO George Jankovic rattled investors sending the stock price plunging $13.38 to close at $54.42.
Monday, July 24, 2006
HCA To Go Private
HCA Inc. (HCA) to go private in a deal worth nearly $33 billion. Shares of the hospital operator rose $1.61 to close at $49.48.
AMD Buys ATI
Video chip maker ATI Technologies Inc. (ATYT) was snapped up by Advanced Micro Devices Inc. (AMD) for a $5.4 billion price tag which sent AMD's stock down 87 cents to close at $17.39. Shares of ATI surged $3.11 to close at $19.67.
Lexington To Buy Newkirk
Lexington Corporate Properties Trust (LXP) will buy Newkirk Realty Trust Inc. (NKT) for approximately $325 million. Shares of Lexington eased 77 cents to close at $20.20 while Newkirk stock lost 90 cents to close at $16.05.
Ralph Lauren Raises Outlook
Polo Ralph Lauren Corp. (RL) raised its outlook over strong demand for its products. Shares of the fashion company leaped $7.50 to close at $55.40.
Schlumberger Called Best of Breed
Impressive earnings prompted RBC Capital Markets analyst Kurt Hallead to name Schlumberger Ltd. (SLB) best of breed for energy services. The stock price jumped $3.02 to close at $64.47.
SanDisk Earnings Surge
Earnings surged above expectations for SanDisk Corp. (SNDK) as sales rose. Shares of the flash memory maker climbed $2.69 to close at $40.20.
Friday, July 21, 2006
Halliburton Falls Short
Halliburton Co. (HAL) posted second quarter earnings a penny shy of expectations and announced that it may no longer IPO its KBR unit. Shares of the oilfield services firm dropped $2.64 to close at $30.04.
Profits were up for Advanced Micro Devices Inc. (AMD), but numbers missed forecast sending shares tumbling $3.39 to close at $18.26.
Capital One Misses
Losses and lower margins lead to earnings miss for credit card issuer Capital One Financial Corp. (COF) The stock price plummeted $8.47 to close at $77.70.
PMC-Sierra Swings To Loss
PMC-Sierra Inc. (PMCS) swung to a loss prompting a downgrade. Shares of the semiconductor maker plunged $1.84 to close at $5.14.
Earnings Surge For Cerner
Second quarter earnings surged for Cerner Corp. (CERN) lifting the healthcare information technology solutions provider $4.73 to close at $39.00.
Amgen Lifts Forecast
Second quarter earnings slipped for Amgen Inc. (AMGN) but the biotech firm lifted its full year foreacast sending its stock price up $2.23 to close at $66.15.
Thursday, July 20, 2006
Higher Earnings For Apple
Apple Computer (AAPL) posted higher earnings due to strong iPod portable player sales and notebook computer sales. The stock leaped $6.40 to close at $60.50.
Coal Price Concerns Send Peabody Lower
Although Peabody Energy Corp. (BTU) reported second quarter earnings that climbed to 57 cents per share from 36 cents per share in the year ago period, the stock price plunged $5.56 to close at $47.79 over concerns that coal prices could soften.
Citrix Falls Short
Citrix Systems Inc. (CTXS) fell 9 cents short of expectations to report second quarter earnings of 24 cents per share compared with 16 cents per share a year earlier sending the stock price tumbling $4.80 to close at $29.97.
Avici Reverses Losses
On the upside, Avici Systems Inc. (AVCI) reversed losses to report earnings of 58 cents per share compared with losses of 21 cents per share last year sending the stock price soaring $2.20 to $7.73.
Revenue Concerns Plague Lam Research
Fourth quarter earnings for Lam Research Corp. (LRCX) surged to 84 cents per share from 47 cents per share in the year ago period, beating expectations by a penny. However, the stock price plunged $5.60 to close at $39.34 over concerns of falling revenue.
MGI Pharma Inc. (MOGN) widely missed expectations with second quarter losses of 25 cents per share compared with earnings of 17 cents per share a year earlier. Upcoming competition from a generic version of MGI's Aloxi prompted the biopharmaceutical firm to trim its full year forecast. The stock price plummeted $6.89 to close at $14.54.
Wednesday, July 19, 2006
UnitedHealth Earnings Soar
Second quarter earnings for UnitedHealth Group Inc. (UNH) climbed to 70 cents per share from 58 cents per share a year earlier sending the stock price up $2.53 to close at $50.93.
Bank of America Beats Estimates
Bank of America (BAC) beat estimates to report second quarter earnings of $1.19 per share, up from $1.14 per share last year. The stock price gained $1.51 to close at $49.95.
ADC Lowers Forecast
ADC Telecommunications Inc. (ADCT) blamed disappointing sales for lowering its full year forecast and warned that third quarter results would miss expectations. The stock price dropped $1.84 to close at $12.52.
J. P. Morgan Earnings Soar
Second quarter earnings for J. P. Morgan Chase & Co. (JPM) surged to 99 cents per share from 28 cents per share in the year ago period, beating expectations by a healthy 12 cents. The stock price climbed $2.34 to close at $43.05.
Analysts downgraded Digitas Inc. (DTAS) after the company slashed its full year earnings outlook. Shares of the digital marketing company plummeted $2.83 to close at $7.40.
Illumina Reverses Losses
Illumina Inc. (ILMN) reversed losses to report second quarter earnings of 14 cents per share compared with losses of 46 cents per share a year earlier. The impressive results prompted the medical equipment maker to raise its fiscal 2006 forecast sending the stock price soaring $8.24 to close at $37.10.
Tuesday, July 18, 2006
Timken Raises Outlook
Shares of Timken Co. (TKR) climbed $1.74 to close at $31.44 after strong results prompted the company to lift its second quarter outlook as well as its full year forecast.
Earnings Surge For Crown Holdings
Second quarter earnings for Crown Holdings Inc. (CCK) surged to 29 cents per share from 16 cents per share a year earlier due to higher sales. Shares of the consumer packaging products maker climbed $1.33 to close at $16.48.
TD Ameritrade Beats Expectations
TD Ameritrade Holding Corp. (AMTD) reported third quarter earnings that rose to 23 cents per share from 20 cents per share in the year ago period to beat expectations by a penny. The stock price gained $1.05 to close at $14.69.
Abercrombie & Fitch Downgraded
Shares of Abercrombie & Fitch Co. (ANF) tumbled $2.56 to close at $50.95 after A. G. Edward analyst Bob Buchanan downgraded the teen apparel retailer.
Target Slashes Sales Forecast
Target Corp. (TGT) slashed its same store sales forecast for July sending the stock price plunging $2.02 to close at $45.53.
Centene Cuts Earnings Forecast
Centene Corp. (CNC) forecast second quarter earnings that fell short of expectations and blamed additional medical costs for cutting its full year outlook. Shares of the healthcare company plummeted $7.44 to close at $13.60.
Monday, July 17, 2006
Magic Software And IBM Enter Deal
Magic Software Enterprises Ltd. (MGIC) announced a three year global distribution and original equipment manufacturing agreement with International Business Machines Corp. (IBM). Shares of Magic Software climbed soared $1.04 to $2.45 while IBM stock eased 17 cents to $73.40.
Spectrum Cuts Forecast Again
Disappointing sales prompted Spectrum Brands Inc. (SPC) to cut its fiscal 2006 outlook for the third time sending shares of the consumer products company plummeting $3.09 to $7.61.
Threshold Halts Prostate Drug
Threshold Pharmaceuticals Inc. (THLD) halted development of its prostate drug TH-070 after it failed both mid-stage and late-stage clinical trials. The stock price plummeted more than 50% by falling $1.67 to $1.51.
Friday, July 14, 2006
Chemed Warns Earnings Will Fall Short
Chemed Corp. (CHE) warned that second quarter earnings would fall short of expectations and lowered its full year forecast. The stock price plummeted $10.35 to close at $40.15.
Manitowoc Ups Offer For Enodis
Manitowoc Co. (MTW) increased its offer to purchase London based Enodis PLC to approximately $1.64 billion. The stock price tumbled $3.52 to close at $37.94.
Analyst Downgrades Titanium Companies
Longbow Research analyst David MacGregor downgraded titanium manufacturers RTI International Metals Inc. (RTI) and Allegheny Technologies Inc. (ATI) over supply chain concerns. Shares of RTI plunged $3.63 to close at $45.00 while Allegheny stock dropped $2.54 to close at $58.73.
Rocky Brands Forecast Losses
Analysts who had been expecting earnings of 45 cents per share from Rocky Brands Inc. (RCKY) downgraded the footwear retailer after the company forecast second quarter losses between 5 to 10 cents per share. The stock price plummeted $9.57 to close at $12.72.
Forest Laboratories' Patent Upheld
Shares of Forest Laboratories Inc. (FRX) jumped $6.00 to close at $44.40 after a federal judge ruled that Teva Pharmaceutical Industries Ltd. (TEVA) infringed on Forest's patent for its antidepressant Lexapro. Teva stock eased a penny to close at $30.50.
Petco To Be Acquired
Petco Animal Supplies Inc. (PETC) agreed to be purchased by private equity firms Leonard Green & Partners and Texas Pacific Group for approximately $1.66 billion sending the stock price soaring $8.44 to close at $27.89.
Thursday, July 13, 2006
Warner Music Merger In Question
A European court annulled the European Commission's approval of a merger between Warner Music Group Corp. (WMG) and Sony Corp.'s (SNE) EMI Group PLC citing antitrust concerns. Shares of Warner Music Group plunged $5.23 to close at $24.53 while Sony stock lost $1.67 to close at $41.23.
FDA Rejects Nastech's Application
Shares of Nastech Pharmaceutical Co. (NSTK) fell $2.40 to close at $12.86 after the Food and Drug Administration rejected the company's application to develop a generic version of Novartis AG's (NVS) Miacalcin nasal spray. Novartis stock eased 46 cents to close at $55.16.
Airline Stocks Fall Over Record Oil
As crude oil prices surged to record levels, airline stocks tumbled. Shares of AMR Corp. (AMR) dropped $2.24 to close at $24.99 while JetBlue Airways Group (JBLU) stock lost $1.23 to close at $10.72. The stock price of Continental Airlines Inc. (CAL) fell $2.32 to close at $29.13.
Multi-Fineline Slashes Outlook
Multi-Fineline Electronix Inc. (MFLX) slashed its third quarter outlook citing unexpectedly higher cost of goods for hurting profits. The stock price plunged $6.26 to close at $21.55.
Tekelec (TKLC) disappointed with first quarter losses of 25 cents per share compared with earnings of 24 cents per share a year earlier because of a steep drop in sales. Shares of the network switching systems maker tumbled $1.36 to close at $10.33.
Cree Cuts Forecast
Cree Inc. (CREE) blamed lower sales for cutting its fourth quarter earnings forecast. The stock price plummeted $4.86 to close at $17.73.
Wednesday, July 12, 2006
Analyst Cuts Outlook For Dell
UBS analyst Benjamin Reitzes cited slowing sales for cutting his second quarter earnings and revenue outlook for Dell Inc. (DELL) sending the stock price down $1.04 to close at $22.38.
Although Matrix Investment Research upgraded SanDisk Corp. (SNDK), shares of the flash memory card maker lost $1.74 to close at $43.96.
Analyst Expects Apple To Warn Of Shortfall
Shares of Apple Computer Inc. (AAPL) dropped $2.69 to close at $52.96 after Credit Suisse First Boston analyst Robert Semple speculated that the company may warn investors that fourth quarter results could fall short of expectations.
Avastin Approval May Be Delayed
Genentech Inc. (DNA) impressed with second quarter earnings that soared to 49 cents per share from 27 cents per share a year earlier. However, the stock price dropped $3.08 to close at $80.98 after announcing that approval of the company's Avastin colon cancer medication to treat breast cancer may be delayed.
Genzyme Earnings Rise
Higher sales lifted second quarter earnings for Genzyme Corp. (GENZ) to 49 cents per share from 46 cents per share in the year ago period, beating expectations by 2 cents. The stock price jumped $4.76 to close at $62.74.
Secure Computing Slashes Outlook
Secure Computing Corp. (SCUR) blamed weak sales for slashing its second quarter outlook. The network security solutions developer also announced a $273.6 million cash and stock deal to acquire privately held Cipher Trust Inc. Secure Computing stock plunged $3.08 to close at $4.99.
Tuesday, July 11, 2006
National City To Acquire Harbor Florida
In mergers and acquisitions, National City Corp. (NCC) will purchase Harbor Florida Bancshares (HARB) for approximately $1.1 billion in stock. Shares of Harbor Florida surged $6.79 to $44.34 while National City stock eased 53 cents to $35.86.
Key Tronic Lifts Earnings
Key Tronic Corp. (KTCC) attributed strong demand growth from existing clients for raising its fourth quarter earnings estimate. Shares of the electronic manufacturing serices company jumped $2.17 to close at $6.37.
KLA-Tencor's Orders Impress
Shares of KLA-Tencor Corp. (KLAC) soared $3.23 to close at $42.56 over news that orders for the quarter ended in June came in above projections.
Talbots Narrows Losses
Shares of Talbots Inc. (TLB) surged $4.10 to close at $22.07 after narrowing its expected second quarter losses.
ChoicePoint To Sell Three Businesses
Analysts downgraded ChoicePoint Inc. (CPS) after the company announced plans to sell three of its businesses. Shares of the identification and verification services firm plunged $3.39 to close at $37.19.
Valentis May Sell Itself
Valentis Inc. (VLTS) stock collapsed over news that the company's peripheral arterial disease treatment VLTS 934 failed a Phase IIb clinical trial. The biotechnology company is considering selling itself. The stock plummeted $2.63 to close at 70 cents.
Monday, July 10, 2006
Equity Firm May Acquire Foot Locker
Shares of Foot Locker Inc. (FL) surged $2.48 to close at $27.32 after Women's Wear Daily reported that private equity firm Kohlberg Kravis Roberts & Co. may purchase the athletic footwear retailer.
No Alliance For MEMC
Negotiations failed between MEMC Electronic Materials Inc. (WFR) and Motech Industries Inc. to form a strategic alliance sending shares of MEMC tumbling $2.24 to close at $33.09.
Shaw Group Narrows Losses
Shaw Group Inc. (SGR) blamed cancelled government contracts for third quarter losses of 21 cents per share compared with losses of 31 cents per share in the year ago period. Shares of the engineering and construction firm plunged $3.67 to close at $22.08.
Piper Jaffray analyst Amit Kapur downgraded InterDigital Communications Corp. (IDCC) saying that the company's potential was already factored into the stock price. The stock price plummeted $6.82 to close at $25.89.
Kronos Lowers Outlook
Kronos Inc. (KRON) also lowered its third quarter earnings outlook. Shares of the workforce management firm tumbled $5.16 to close at $29.46.
Lower product orders prompted Connetics Corp. (CNCT) to warn that second quarter earnings would disappoint. The specialty pharmaceutical firm also withdrew its earnings guidance for the year sending is stock plunging $3.93 to close at $7.76.
Friday, July 07, 2006
Horizon Health Disappoints
Horizon Health Corp. (HORC) missed expectations by 6 cents to report third quarter earnings of 24 cents per share compared with 24 cents per share a year earlier. The healthcare services provider also slashed its earnings forecast for fiscal 2006 and 2007 sending the stock price plunging $6.46 to close at $13.83.
WebMethods Warns Of Loss
A sharp drop in revenue prompted WebMethods Inc. (WEBM) to change its first quarter forecast to a loss instead of a profit. Shares of the business software maker plummeted $3.06 to close at $6.52.
A. G. Edwards analyst Brian Postol downgraded Lowe's Cos. (LOW) over concerns that the slowing housing market will impact sales. The stock price dropped $1.32 to close at $28.96.
Analysts downgraded Starbucks Corp. (SBUX) after the coffee retailer reported June same store sales that fell short of expectations. The stock price lost $1.84 to close at $36.04.
Business Objects Cuts Forecast
Shares of Business Objects S. A. (BOBJ) plunged $5.76 to close at $21.03 after slashing its second quarter earnings forecast.
PMC CFO To Leave
PMC Sierra Inc. (PMCS) announced that its chief financial officer Alan Krock will leave the company after a reasonable time of transition. Shares of the integrated circuit maker tumbled $1.17 to close at $7.87.
Thursday, July 06, 2006
Microsoft To Compete Against iPod
Reports that Microsoft Corp. (MSFT) will release its own portable music player to compete against Apple Computer Inc.'s (AAPL) popular iPod sent shares of Apple down $1.23 to close at $55.77. Microsoft stock edged up 13 cents to close at $23.48.
Citigroup analyst Craig Ellis downgraded Maxim Integrated Products (MXIM) over stock option concerns. Shares of the analog chipmaker lost $1.02 to close at $30.25.
Florida Court Overturns $145 Billion Award Against Tobacco Firms
The Florida Supreme Court upheld an appeals court ruling that overturned a $145 billion punitive damage award against major tobacco companies sending shares of cigarette makers soaring. Altria Group Inc. (MO) stock surged $4.43 to close at $77.76 while shares of Reynolds American Inc. (RAI) jumped $4.59 to close at $118.95. Shares of Carolina Group (CG) climbed $2.81 to close at $53.99.
Par Pharmaceuticals To Restate Financials
Par Pharmaceuticals Cos. Inc. (PRX) must restate financial results for 2004, 2005 and the first quarter of 2006 due to accounting errors. Reported revenue is expected to drop by as much as $55 million. The stock price plunged $4.78 to close at $13.47.
WR Hambrecht downgraded Digitas Inc. (DTAS) over concerns that the marketing services firm may lose a major client. The stock price tumbled 76 cents to close at $10.41.
PayPal President Steps Down
Shares of eBay Inc. (EBAY) fell $1.51 to close at $26.85 after announcing the departure of Jeff Jordan, president of eBay's PayPal unit.
Wednesday, July 05, 2006
Commerce Bancorp Tumbles Over Wall St. Journal Article
A Wall Street Journal article noting that Commerce Bancorp Inc.'s (CBH) clients are seeking better interest rates at rival institutions sent shares of the company tumbling $2.52 to close at $32.80.
Atheros Communications Downgraded
Concerns about Atheros Communications Inc.'s (ATHR) cell phone sales prompted Jefferies & Co. to downgrade the stock and cut its earnings forecast. The stock price plunged $2.71 to close at $15.63.
Thomas Weisel Partners analyst Jason Pflaum cited valuation concerns for downgrading Trident Microsystems Inc. (TRID). The stock price plummeted $3.33 to close at $15.96.
The stock price of Qualcomm Inc. (QCOM) lost $1.29 to close at $38.17 despite an analyst upgrade.
Millicom Adds Subscribers
Millicom International Cellular S. A. (MICC) added over 1.4 million subscribers during the second quarter to lift its total subscribers to 10.9 million. The stock price surged $1.69 to close at $35.02.
Marvell Tech Options Probe
Shares of Marvell Technology Group Ltd. (MRVL) plunged $3.53 to close at $41.31 after disclosing an informal inquiry by the Securities and Exchange Commission into stock option grants as well as a subpoena by the U. S. Attorney for documents related to options.
Monday, July 03, 2006
Newmont Mining Expected To Expand Production
Barron's reported that Newmont Mining Corp. (NEM) stock will rise sharply over the next year and a half as the company expands its gold production. The stock price gained $2.43 to $55.36.
Merge CEO, CFO Resign
Shares of Merge Technologies Inc. (MRGE) plummeted $4.96 to $7.35 after announcing that due to improper accounting practices, the company must restate all financial reports from 2002 through 2005. Both the company interim chief executive and chief financial officer resigned.