Friday, December 29, 2006
Partner Success Holdings completed its reverse take-over of OraLabs Holding and changed its name to China Precision Steel (CPSL). The stock price leaped $5.30 to close at $10.75.
Encysive Continues To Fall
Shares of Encysive Pharmaceuticals Inc. (ENCY) continued to fall over concerns that the FDA's slow review of the company's lung condition treatment would allow rivals to get to market first. The stock price fell 28 cents to close at $4.21.
Goodyear Strike Ends
United Steelworkers voted to end its 12-week long strike of Goodyear Tire & Rubber Co. (GT). The stock price climbed 98 cents to close at $20.99.
Oscient Amends License
Oscient Pharmaceuticals Corp. (OSCI) amended its licensing deal to cover all nations in the European Union. The stock price soared 86 cents to close at $5.06.
Private Equity Firms Interested In Alltel
The Wall Street Journal reported that private equity firms are interested in purchasing Alltel Corp. (AT). Shares of the wireless operator surged $2.17 to close at $60.48.
Apple Restates Earnings
Apple Computer Inc. (AAPL) restated earnings due to stock option practices and expressed confidence in chief executive Steve Jobs and its management team. Shares of the computer maker surged $3.97 to close at $84.84.
Thursday, December 28, 2006
Apple Continues To Fall
Apple Computer Inc. (AAPL) stock continued to fall over reports that former executives forged documents related to stock option grants. The stock price lost 65 cents to close at $80.87.
SciClone Applies To Sell Liver Treatment In China
SciClone Pharmaceuticals Inc. (SCLN) submitted an application with the Chinese government to sell its liver cancer treatment in China. The stock price gained 53 cents to $3.42.
Positive Test Results For Threshold Pharmaceuticals
Threshold Pharmaceuticals Inc. (THLD) reported positive trial results for its pancreatic cancer treatment. The stock price climbed 91 cents to close at $4.11.
AsiaInfo Will Upgrade China Telecom
AsiaInfo Holdings Inc. (ASIA) will upgrade China Telecom's business support system. The stock price soared $1.25 to close at $7.83.
Coverage Initiated On CDC
Oppenheimer initiated coverage of CDC Corp. (CHINA) with a buy rating lifting the stock price 98 cents to close at $9.37.
First Financial To Join S&P SmallCap 600
First Cash Financial Services Inc. (FCFS) will be added to the S&P SmallCap 600 index. The stock price surged $2.59 to close at $26.12.
Wednesday, December 27, 2006
Telik Inc. (TELK) was downgraded after reporting disappointing drug trial results. Shares of the biopharmaceutical lost 36 cents to close at $4.41.
Revenue Falls For Euro Tech
Euro Tech Holdings Co. Ltd. (CLWT) reported lower revenue for the six months ended June 30, 2006. The stock price tumbled 97 cents to close at $3.86.
FDA Approval For Vascular Solutions' Tool
The Food and Drug Administration approved Vascular Solutions Inc.'s (VASC) hemostat surgical tool D-Stat Flowable for another application. Shares of the medical device company jumped $1.29 to close at $8.85.
InfoSonics To Distribute Handsets
InfoSonics Corp. (IFON) will distribute LG handsets in the Caribbean and certain Latin American countries. The stock price soared $1.69 to close at $5.56.
Piper Jaffray Lifts Price Target For Guess?
Piper Jaffray lifted its earnings estimate and target price for Guess? Inc. (GES) in anticipation of higher December sales. The stock price surged $5.14 to close at $65.00.
Sento Swings To Loss
Although Sento Corp. (SNTO) swung to a loss for the second quarter, the results beat expectations lifting the stock price $1.32 to close at $3.24.
Tuesday, December 26, 2006
Zi Continues To Climb
Shares of Zi Corp. (ZICA) continued to surge by climbing another 80 cents to close at $2.56 after it announced its new mobile search engine Qix on Friday.
FDA To Review Cyberonics' Depression Treatment
The Food and Drug Administration will review Cyberonics Inc.'s (CYBX) depression treatment device sending the stock price tumbling $1.84 to close at $20.78.
Anadarko Sells Fields To EXCO
Anadarko Petroleum Corp. (APC) sold two gas fields in Louisiana to EXCO Resources Inc. (XCO) lifting shares of Andarko 56 cents to close at $42.70. EXCO stock climbed $1.06 to close at $17.90.
Acme Packet Hits New High
Shares of Acme Packet hit a new high by surging $2.26 to close at $20.47. The network equipment maker was among the most successful IPO's of 2006.
Telik Reports Disappointing Test Results
Telik Inc. (TELK) was the casualty of the day after the drug research firm reported disappointing results for its cancer drug treatment. The stock price plummeted $11.49 to close at $4.77.
Fuwei Films Raises $35.7 Million
China-based Fuwei Films Holdings Co. (FFHL) raised $35.7 million in its initial public offering with funds earmarked for sales and marketing of its specialty plastic films. The stock price rose 99 cents to close at $13.50.
Friday, December 22, 2006
Research In Motion Misses By A Penny
Shares of Research in Motion Ltd. (RIMM) tumbled after posting third quarter earnings that fell one penny short of expectations. The Blackberry maker earned 93 cents per share compared with 61 cents per share a year earlier. The stock price dropped $3.70 to close at $130.00.
Resources Connections Beats Expectations
Although second quarter earnings for Resources Connections slid to 29 cents per share from 31 cents per share a year earlier, the results beat expectations sending the stock price soaring $3.05 to close at $31.66.
Positive Trial Results Boost InterMune
Positive trial results for lung disease treatment pirfenidone boosted shares of InterMune Inc. (ITMN) $6.39 to close at $28.40.
Positive Results For SciClone
SciClone Pharmaceuticals Inc. (SCLN) reported positive survival data for its melanoma drug treatment trial. The stock price surged 87 cents to close at $3.13.
Pinnacle Settles With Northwest
Pinnacle Airlines Corp. (PNCL) reached an agreement with Northwest Airlines Corp. (NWACQ)to settle $377.5 million in claims and continue its partnership. Shares of Pinnacle leaped $6.05 to close at $16.75 while Northwest stock eased 38 cents to close at $4.04.
Cheniere Subsidiary Files For IPO
Cheniere Energy Inc. (LNG) subsidiary Sabine Pass filed for an initial public offering with expected proceeds of approximately $250 million. The stock price surged $2.55 to close at $28.95.
Thursday, December 21, 2006
Jabil Circuit Downgraded
Analysts disappointed with Jabil Circuit Inc.'s (JBL) first quarter sales downgraded the company. The stock price tumbled $2.44 to close at $24.12.
Onstream Media Launches Video Search
Onstream Media Corp. (ONSM) launched a video search platform yesterday sending the stock price surging $1.03 to close at $3.15.
GlaxoSmithKline Buys Praecis
Praecis Pharmaceuticals Inc. (PRCS) was snapped up by GlaxoSmithKline plc (GSK) for $55 million. Praecis stock more than doubled by surging $2.89 to close at $4.89 while shares of GlaxoSmithKline eased 15 cents to close at $52.14.
International Assets Swings To Loss
International Assets Holding Corp. (IAAC) swung to a fourth quarter loss of 25 cents per share compared with earnings of 13 cents per share in the year ago period. Shares of the financial services firm plummeted $15.63 to close at $32.30.
Possible Partners For Accentia
Shares of Accentia Biopharmaceuticals Inc. (ABPI) rose over potential partners for the company's sinus treatment SinuNase. The stock price soared 57 cents to close at $3.81.
Psychicatric Solutions To Acquire Horizon Health
Horizon Health Corp. (HORC) will be acquired by Psychiatric Solutions for approximately $321 million. The stock price jumped $3.23 to close at $19.36.
Wednesday, December 20, 2006
No Casino License For Trump
Trump Entertainment Resorts Inc. (TRMP) failed to secure a license to build a casino in Philadelphia sending the stock price tumbling $3.02 to close at $19.78.
Digitas To Be Acquired
Digitas Inc. (DTAS) will be purchased by Paris based Publicis Groupe SA for approximately $1.3 billion in cash. The stock price surged $2.42 to close at $13.35.
SIGA Receives Orphan Drug Status
The Food and Drug Administration granted Orphan Drug status to SIGA Technologies Inc.'s (SIGA) smallpox drug SIGA-246. The stock price leaped $2.23 to close at $4.95.
Disappointing Trial Results For Panacos
Panacos Pharmaceuticals Inc. (PANC) reported disappointing results for its HIV treatment bevirimat sending the stock price tumbling $1.75 to close at $3.94.
Earnings Triple For Systemax
Systemax Inc. (SYX) reported third quarter earnings that tripled to 33 cents per shares from 11 cents per share in the year ago period. The stock price surged $2.36 to close at $16.71.
Escala Continues To Advance
Escala Group Inc. (ESCL) continued to advance after announcing that an internal probe revealed no questionable transactions with majority shareholder Afinsa Bienes Tangibles. Escala will restate financials from fiscal 2003 through the first three quarters of 2006. The stock price jumped $1.93 to close at $10.53.
Tuesday, December 19, 2006
Golf Galaxy Widens Losses
Shares of Dick's Sporting Goods Inc. (DKS) tumbled $2.55 to close at $48.73 after its acquisition target Golf Galaxy Inc. (GGXY) widened third quarter losses to 31 cents per share from a loss of 15 cents per share last year. Golf Galaxy stock eased 3 cents to close at $18.58.
Melco Surges In Debut
Shares of Melco PBL Entertainment (MPEL) surged $2.55 to close at $21.55 in its market debut.
Syntroleum To Develop New Guinea Facility
Syntroleum Corp. (SYNM) will jointly develop a gas-to-liquids facility in Papua New Guinea sending the stock price soaring $1.29 to close at $4.10.
No Impropriety At Escala Group
Escala Group Inc.'s (ESCL) internal investigation found no evidence of improper transactions with majority shareholder Afinsa Bienes Tangibles SA. The stock price leaped $4.12 to close at $8.60.
Applied Digital Misses
Analysts downgraded Applied Signal Technology Inc. (APSG) after the company fell 17 cents short of fourth quarter expectations to report earnings of 5 cents per share compared with 26 cents per share in the year ago period. The stock price plunged $2.29 to close at $13.45.
Circuit City Swings To Loss
Circuit City Stores Inc. (CC) swung to a third quarter loss of 9 cents per share compared with earnings of 6 cents per share as the electronics retailer slashed prices. The stock price plummeted $3.75 to close at $19.01.
Monday, December 18, 2006
Bucyrus To Buy DBT
Bucyrus International Inc. (BUCY) will acquire DBT GmbH for approximately $731 million in cash and stock. The stock price surged $5.75 to close at $48.48.
Mikron Warns Revenue Growth Will Slow
Fourth quarter earnings for Mikron Infrared rose to 16 cents per share from 13 cents per share a year earlier but the company warned that revenue growth will slow.
L-3 Loses Contract To DynCorp
L-3 Communications Holdings Inc. (LLL) lost a $4.6 billion five year contract with the Army to DynCorp International Inc. (DCP). Shares of L-3 plunged $4.72 to close at $79.00 while DynCorp stock soared $2.14 to close at $16.05.
Statoil To Acquire Norsk
Norsk Hydro ASA (NHY) will be acquired by Statoil ASA (STO) for approximately $30 billion. Shares of Norsk surged $4.70 to close at $29.55 while Statoil stock eased 89 cents to close at $26.74.
Harrah's Receives Sweetened Bid
Harrah's Entertainment Inc. (HET) was expected to accept a sweetened buyout offer from two private equity firms. Share of the casino operator climbed $2.68 to close at $82.18.
Apollo Group To Acquire Realogy
Realogy Corp. (H), owners of the Coldwell Banker real estate franchise, agreed to be acquired by private equity firm Apollo Group for about $6.6 billion sending the stock price soaring $4.90 to close at $30.40.
Friday, December 15, 2006
Walter Industries Completes Spinoff
Walter Industries Inc. (WLT) completed the spinoff of Mueller Water Products. The stock price plummeted $22.52 to close at $26.50.
Black & Decker Slashes Forecast
Black & Decker Corp. (BDK) slashed both its fourth quarter outlook as well as its full year forecast as the slowing housing market weakened demand for the company's products. The stock price plummeted $8.66 to close at $78.26.
American Italian Pasta To Be Suspended From NYSE
American Italian Pasta Co. (PLB) will be suspended from trading on the New York Stock Exchange on December 20 for failure to file its financial reports in a timely manner. The stock price dropped $1.15 to close at $10.10.
Carrols Restaurant Rises In Debut
Carrols Restaurant Group Inc. (TAST) rose $2.20 to close at $15.20 on its initial trading day.
Affymax Soars On First Trading Day
Shares of Affymax Inc. (AFFY) soared $8.88 to close at $33.88 on its first day of trading.
Isilon Surges In Market Debut
Isilon Systems Inc. (ISLN) surged $10.10 to close at $23.10 in its market debut.
Thursday, December 14, 2006
Tariffs Against Imported Steel Lifted
Tariffs were lifted against imported steel that is used in cars sending shares of IPSCO Inc. (IPS) plunging $4.33 to close at $97.19.
LodgeNet To Buy On Command
LodgeNet Entertainment Corp. (LNET) will purchase rival On Command Corp. for approximately $380 million in cash and stock. Shares of LodgeNet jumped $3.55 to close at $26.75.
Dectron Internationale Swings To Profit
Dectron Internationale Inc. (DECT) swung to a third quarter profit of 17 cents per share compared with a loss of 12 cents per share a year earlier. The stock price surged $2.00 to close at $6.20.
SiRF Issues Sales Warning
SiRF Technology Holdings Inc. (SIRF) issued a sales warning for its global positioning system semiconductor solutions sending the stock price plunging $3.39 to close at $26.20.
Bluefly Reports Strong Sales
Online retailer Bluefly Inc. (BFLY) shares rallied for a second day by gaining 17 cents to close at $1.32 on strong holiday sales results.
Ciena's First Profit In 5 Years
Ciena Corp. (CIEN) swung to a first quarter profit, its first in five years sending the stock price surging $2.87 to close at $27.83.
Wednesday, December 13, 2006
IPG Surges In Debut
Shares of IPG Photonics Corp. (IPGP) surged more than 50% by jumping $9.10 to cose at $25.60 in its market debut.
Lumera Reports Successful Test
Lumera Corp. (LMRA) successfully tested its wireless bridge lifting the stock price 27 cents to close at $6.84.
Atmel Announces Restructuring Plans
Atmel Corp. (ATML) announced restructuring plans that include selling two factories and eliminating jobs. The stock price rose 62 cents to close at $5.90.
Raymond James downgraded OptionsXpress Holdings Inc. (OXPS) citing disappointing account growth. The stock price tumbled $2.33 to close at $24.77.
FDA Requests More Data From Pozen
Pozen Inc. (POZN) shares stumbled $2.02 to close at $16.09 after the FDA requested more data for its migraine drug.
Progen Reports Positive Test Results
Progen Industries Ltd. (PGLA) shares leaped $3.53 to close at $6.48 on positive results for its liver cancer treatment.
Tuesday, December 12, 2006
Circuit City Falls On Best Buy's Results
Shares of Circuit City Stores Inc. (CC) dropped $1.36 to close at $23.58 after rival Best Buy posted disappointing earnings.
Scotts Miracle-Gro To Repurchase Stock
The Scotts Miracle-Gro Co. (SMG) announced plans to repurchase up to $250 million worth of stock and will pay a special one-time cash dividend. The stock price soared $2.56 to close at $53.39.
Epix Partners With GlaxoSmithKline
Epix Pharmaceuticals Inc. (EPIX) entered a partnership with GlaxoSmithKline plc (GSK) to jointly develop drugs. Shares of Epix soared $1.67 to close at $7.19 while GlaxoSmithKline stock edged up 57 cents to close at $53.00.
Best Buy Disappoints
While third quarter earnings for Best Buy Co. Inc. (BBY) rose, the results fell short of expectations sending the stock price tumbling $2.62 to close at $51.30.
Nucor Corp. (NUE) warned that fourth quarter earnings will disappoint due to lower prices and soft demand. Shares of the steel maker plunged $4.75 to close at $59.60.
Sabre Holdings To Be Acquired
A private equity group will acquire Sabre Holdings Corp. (TSG) for approximately $5 billion. The stock price rose $1.53 to close at $31.96.
Monday, December 11, 2006
Hubbell Slashed Forecast
Hubbell Inc. (HUBB) slashed its earnings forecast as sales dropped. The stock price plunged $6.71 to close at $46.00.
Acquisition Speculation Lifts Continental
Speculation that Continental Airlines Inc. (CAL) may be acquired sent shares of the airliner surging $3.44 to close at $45.42.
Taro May Be Acquired
Ofer Hi-Tech is in negotiations to purchase Taro Pharmaceutical Industries Ltd. (TARO) sending the stock price up $1.53 to close at $12.65.
Nuvelo Reports Two Failed Tests
Nuvelo Inc. (NUVO) was the casualty of the day after its blood thinning drug failed two clinical trials. The stock price plummeted $15.50 to close at $4.05.
Trial Failure For NeoPharm
NeoPharm Inc. (NEOL) reported a failed trial for its experimental cancer treatment. The stock price plummeted $4.56 to close at $2.16.
Approval For Palomar Medical
Palomar Medical Technologies Inc. (PMTI) received an FDA approval for its laser hair removal device lifting the stock price $5.39 to close at $55.35.
Friday, December 08, 2006
Possible Suitor For Catalina Marketing
A private equity firm expressed interest in purchasing Catalina Marketing Corp. (POS) sending the stock price soaring $4.88 to close at $29.11.
Allegiant Travel Surges In Debut
Allegiant Travel Co. (ALGT), an airline operator aimed at leisure travelers in small cities, made an impressive debut by surging $7.10 to close at $25.10.
Heelys Soars In Debut
Heelys Inc. (HLYS) which makes patented sneakers with wheels in the heels for children made its debut at $21 a share and leaped $11.60 to close at $32.60.
Smith & Wesson Disappoints
Smith & Wesson Holding Corp. (SWHC) reported higher revenues due to strong firearms sales, but earnings disappointed investors. The stock price tumbled $2.17 to close at $11.60.
Profits Fall For Central Garden & Pet
Central Garden & Pet Co. (CENT) reported higher revenues, but lower profits due to higher grain costs. The stock price plunged $4.53 to close at $48.36.
Credence Systems Upgraded
Credence Systems Corp. (CMOS) was upgraded by analysts for its turnaround efforts in the semiconductor testing equipment business sending the stock price soaring $1.01 to close at $4.96.
Thursday, December 07, 2006
Cree Lowers Outlook
Cree Inc. (CREE) lowered its second quarter outlook due to slowing demand for its LED chip products sending the stock price tumbling $2.72 to close at $18.39.
Toro Beats Expectations
While fourth quarter earnings for Toro Co. (TTC) slipped to 10 cents per share from 14 cents per share a year earlier, the results surpassed expectations lifting the stock price $2.94 to close at $49.68.
First Albany upgraded Biovail Corp. (BVF) after the pharmaceutical announced a restructuring plan and forecast fiscal 2007 results above expectations. The stock price climbed $1.60 to close at $22.32.
Keystone To Contest Ruling
Keystone Automotive Industries Inc. (KEYS) planned to contest a ruling in a patent suit against Ford Global Technologies. The stock price plummeted $8.21 to close at $30.55.
Halozyme Signs Deal With Roche
Halozyme Therapeutics Inc. (HTI) shares continued to rally by climbing another $1.18 to close at $5.73 after signing a deal with Roche worth up to a potential $581 million.
Positive Test Results For Vanda
Vanda Pharmaceuticals Inc. (VNDA) reported positive results for its late stage schizophrenia drug trial sending the stock price soaring $10.65 to close at $26.15.
Wednesday, December 06, 2006
WR Hambrect downgraded SonicWall Inc. (SNWL) over concerns that the company would miss fourth quarter targets sending the stock price down $1.08 to close at $8.81.
InterDigital Lowers Guidance
InterDigital Communications Corp. (IDCC) lowered guidance for its fourth quarter revenues sending the stock price tumbling $2.29 to close at $30.50.
Yahoo Changes Management Team
Yahoo Inc. (YHOO) shook up its management team with the departure of its COO while its CFO was put in charge of ad sales. The stock price eased 57 cents to close at $26.86.
Directed Electronics Trims Outlook
Directed Electronics Inc. (DEIX) trimmed its full year outlook as sales fell below expectations. The stock price tumbled $1.88 to close at $11.28.
Docucorp To Be Acquired
Privately held Skywire Software will pay approximately $127 million in cash to acquire Docucorp International Inc. (DOCC) sending the stock price soaring $2.26 to close at $9.76.
GoAmerica Introduces New Service
GoAmerica Inc. (GOAM) introduced its new relay service enabling deaf users to communicate through sign language. The stock price surged $2.13 to close at $7.80.
Tuesday, December 05, 2006
Henry Schein Lowers Outlook
Disappointing sales prompted Henry Schein Inc. (HSIC) to lower its fiscal 2006 outlook. The stock price plummeted $3.35 to close at $50.44.
Sanderson's Income Rises
Fourth quarter income rose to 52 cents per share from 50 cents per share in the year ago period for Sanderson Farms. The stock price jumped $3.44 to close at $32.72.
Nastech Defers P&G's Payment
Nastech Pharmaceutical Co. Inc. (NSTK) agreed to defer Proctor & Gamble's $15 million milestone payment sending the stock price tumbling $2.99 to close at $16.20.
MTM Technologies Secures Contract
MTM Technologies Inc. (MTMC) secured a multi-year multi-million dollar contract to provide support services to Webster Bank. The stock price soared 95 cents to close at $2.50.
E. Coli Outbreak Lifts Food Technology
Shares of food sterilization services firm Food Technology Service Inc. (VIFL) surged after E. coli sickened dozens of Taco Bell customers. The stock price climbed 87 cents to close at $3.03.
Direct General To Go Private
A private equity group will take Direct General Corp. (DRCT) private for approximatley $431.4 million in cash sending the stock price surging $3.99 to close at $20.50.
Monday, December 04, 2006
Pilgrim's Pride To Acquire Gold Kist
Pilgrim's Pride Corp. (PPC) will acquire Gold Kist Inc. (GKIS) for approximately $1.1 billion. Shares of Gold Kist rose 90 cents to close at $20.87 while Pilgrim's Pride stock soared $2.52 to close at $27.90.
$4.7 Billion Offer For Station Casinos
Colony Capital and the Fertitta family offered $4.7 billion to purchase Station Casinos Inc. (STN) sending the stock price surging $15.80 to close at $84.90.
Onyx Trial Results Disappoint
Onyx Pharmaceuticals Inc. (ONXX) reported disappointing results for its skin cancer drug treatment sending the stock price plummeting $5.32 to close at $12.18.
Disappointing Results For Forbes Medi Tech
Shares of Forbes Medi Tech (FMTI) Inc. lost more than half their value by plunging $1.36 to close at $1.01 on disappointing cholestrol drug trial results.
Kyphon To Acquire St. Francis
Kyphon Inc. (KYPH) will pay $525 million in cash and possibly up to $200 million in contingent payments for privately held St. Francis Medical Technologies. The stock price leaped $10.08 to close at $43.60.
Micromet Receives $10 Million
Micromet Inc. (MITI) received a milestone payment of $10 million from Serono S. A. for the completion of Phase II clinical trials of its cancer treatment adecatumumab. The stock price surged 98 cents to close at $3.00.
Friday, December 01, 2006
Legal Setback For SCO Group
SCO Group Inc. (SCOX) suffered another setback in its legal fight with IBM over UNIX source code sending the stock price tumbling 78 cents to close at $1.22.
LOGIC Swings To Profit
LOGIC Devices Inc. (LOGC) posted a profit of 2 cents per share compared with losses of 20 cents per share a year earlier due to strong chip sales. The stock price rose 45 cents to close at $3.02.