RAIT Plunges Over Bankruptcy Concerns

Shares of RAIT Financial Trust (RAS) plunged $5.72 to close at $10.36 on fears that the company may not be able to collect debt obligations from American Home Mortgage Investment Corp. (AHM). American Home Mortgage stock skydived $9.43 to close at $1.04.

American Home Mortgage Near Bankruptcy

Financial backers of American Home Mortgage Investment Corp. (AHM) demanded payment from the troubled mortgage lender pushing the company closer to bankruptcy. The stock price collapsed $9.43 to close at $1.04.

Earnings Tumble For Health Management Associates

Second quarter earnings tumbled for Health Management Associates Inc. (HMA) to 5 cents per share from 32 cents per share last year prompting the hospital operator to slash its full year forecast. The stock price plunged $2.59 to close at $8.06.

Under Armour Reports Higher Earnings

Second quarter earnings for Under Armour Inc. (UA) rose to 11 cents per share from 5 cents per share in the year ago period beating expectations by an impressive 8 cents. The athletic apparel maker to lift its full year outlook sending the stock price soaring $6.23 to close at $61.41.

Mosaic Swings To Profit

Mosaic Co. (MOS) swung to a fourth quarter profit of 46 cents per shares compared with losses of 48 cents per share a year earlier as sales rose. The stock price climbed $1.60 to close at $37.56.

Dow Jones-News Corp. Merger Closer To Reality

Dow Jones & Co. Inc. (DJ) stock soared $5.82 to close at $57.38 as the Bancroft family appeared ready to approve the acquisition of Dow Jones by News Corp. (NWS). Shares of News Corp. edged down 18 cents to close at $22.66.

Four Goodyear Plants Reach Labor Agreement

Four Goodyear Tire & Rubber Co. (GT) plants reached labor agreements with the United Steelworkers sending the stock price up $2.12 to close at $29.12.

Gymboree Lifts Outlook

Gymboree Corp. (GYMB) lifted it second quarter outlook and announced a $50 million share repurchase plan. The stock price surged $3.42 to close at $39.45.

Revenue Drops For RadioShack

RadioShack Corp. (RSH) posted a profit of 34 cents per share versus year-ago losses of 2 cents per share, but revenues fell 15%. The stock price plummeted $3.25 to close at $25.55.

FDA Approves Vivus' EvaMist

Vivus Inc. (VVUS) announced FDA approval of its EvaMist menopausal spray. The stock price rose 25 cents to close at $5.75.

Nordstrom Upgraded

Nordstrom Inc. (JWN) was upgraded by an analyst ahead of its quarterly profit report. The stock price climbed $3.15 to close at $47.06.

Rural Cellular To Be Acquired

Verizon Wireless announced the purchase of Rural Cellular Corp. (RCCC) for $757 million in cash sending the stock price leaping $10.95 to close at $42.76.

Lululemon Surges In Debut

Shares of Lululemon Athletica Inc. (LULUV) leaped $10.00 to close at $28.00 in its market debut.

QLogic Disappoints

QLogic Corp. (QLGC) reported lower first quarter profits of 12 cents per share compared with 13 cents per share last year and issued a forecast that missed estimates. Shares of the networking equipment maker tumbled $2.62 to close at $14.05.

Cymer Beats Expectations

Cymer Inc. (CYMI) posted higher profits of 67 cents per share compared with 55 cents per share last year to beat estimates despite a drop in revenues from its chip laser business. The stock price jumped $5.75 to close at $43.30.

Medtronic To Buy Kyphon

Medical technology company Medtronic Inc. (MDT) offered $3.9 billion in cash to acquire Kyphon Inc. (KYPH). Shares of Medtronic eased 11 cents to close at $50.81 while Kyphon stock leaped $12.92 to close at $66.60.

Netgear Reports Lower Earnings

Netgear Inc. (NTGR) blamed increased research and development expenses for second quarter income that dropped to 17 cents per share from 29 cents per share a year earlier. The stock price plunged $8.93 to close at $28.89.

Earnings Drop For Sepracor

Sepracor Inc. (SEPR) reported lower second quarter earnings of 5 cents per share compared with 10 cents per share in the year ago period that fell short of expectations. Shares of the pharmaceutical plummeted $10.97 to close at $27.29.

Earnings Drop For Advanced Energy

Advanced Energy Industries Inc. (AEIS) blamed higher research and development expenses for second quarter earnings that dropped to 25 cents per share from 40 cents per share in the year ago period. The stock price tumbled $3.87 to close at $19.27.

Perfect World Soars In Debut

Beijing based online gaming company Perfect World (PWRD) soared $4.40 to close at $20.40 on its first day of trading.

Akamai Downgraded

Although Akamai Technologies Inc. (AKAM) reported sharply higher second quarter earnings of 12 cents per share compared with 7 cents per share a year earlier, lower margins prompted analyst downgrades. The stock price plunged $8.91 to close at $38.27.

Sonus Completes Internal Probe

Sonus Networks Inc. (SONS) completed an internal probe into stock options and will record additional expenses from 2000 through 2005 sending the stock price plummeting $1.37 to close at $6.91.

Ford Surprises With First Profit In Two Years

Ford Motor Co. (F) surprised analysts by posting a second quarter profit of 31 cents per share compared with losses of 17 cents per share in the year ago period, the company's first profit in two year. Shares of the automaker rose 12 cents to close at $8.09.

Apple's Earnings Nearly Double

Third quarter earnings for Apple Inc. (AAPL) surged to 92 cents per share from 54 cents per share in the year ago period to beat expectations due to strong sales of Mac computers and iPod media players. The stock price leaped $8.74 to close at $146.00.

BladeLogic Soars In Debut

BladeLogic Inc. (BLOG) made a splash in its market debut by soaring $8.07 to close at $25.07.

Skechers' Earnings Drop

Skechers USA Inc. (SKX) reported lower second quarter earnings of 32 cents per share compared with 40 cents per share a year earlier prompting a downgrade. The stock price plummeted $6.06 to close at $22.27.

NutriSystem's Forecast Disappoints

Although second quarter earnings for NutriSystem Inc. (NTRI) rose to 96 cents per share from 53 cents per share last year, the weight loss management company forecast third quarter results below expectations. The stock price plunged $6.88 to close at $56.90.

Joy Global Lowers Guidance

Joy Global Inc. (JOYG) blamed weakness in the coal market for lowering its full year guidance sending the stock price plummeting $7.11 to close at $52.45.

Dade Behring To Be Acquired By Siemans

Dade Behring Holdings Inc. (DADE) will be acquired by Siemans AG (SI) for approximately $7 billion. The clinical laboratory diagnostics company also reported higher second quarter earnings of 61 cents per share compared with 43 cents per share a year earlier that easily surpassed estimates as revenue grew. Shares of Dade Behring jumped $18.35 to close at $74.26 while Siemans stock plunged $7.86 to close at $136.70.

Amazon.com's Earnings Surge

Amazon.com Inc.'s (AMZN) second quarter earnings surged to 19 cents per share from 5 cents per share in the year ago period beating expectations by 3 cents due to strong sales. The stock price leaped $16.93 to close at $86.18.

Quest Reports Higher Earnings

Quest Diagnostics Inc. (DGX) reported higher second quarter earnings of 73 cents per share compared with 66 cents per share a year earlier that beat expectations by 5 cents as the medical testing company cut costs. The stock price surged $3.62 to close at $56.42.

Millicom Disappoints

Millicom International Cellular SA (MICC) reported disappointing second quarter earnings that fell short of expectations sending the stock price plummeting $11.31 to close at $85.69.

Countrywide Misses By Wide Margin

Countrywide Financial Corp. (CFC) blamed mortgage defaults for reporting second quarter earnings that dropped to 81 cents per share from $1.15 per share in the year ago period, falling 14 cents short of expectations. The disappointing results prompted the mortgage banking company to lower its full year outlook for the second time sending the stock price tumbling $3.56 to close at $30.50.

Wyeth Must Conduct Additional Safety Test

The Food and Drug Administration requested that Wyeth (WYE) conduct an additional safety test before considering the company's antidepressant Pristiq for approval. Shares of the pharmaceutical plunged $5.70 to close at $50.30.

Microvision To Work With Motorola

Microvision Inc. (MVIS) will work with Motorola Inc. (MOT) to integrate its ultra miniature projector with a mobile device. Shares of Microvision climbed 60 cents to close at $5.45 while Motorola stock eased 12 cents to close at $17.71.

Liberty Property To Acquire Republic Property

Liberty Property Trust (LRY) will acquire Republic Property Trust (RPB) in an all cash deal valued at approximately $383.5 million. Shares of Liberty dropped $2.81 to close at $40.10 while Republic stock surged $2.55 to close at $14.03.

Earnings Drop For LifePoint

LifePoint Hospitals Inc. (LPNT) blamed bad debt for a sharp drop in second quarter earnings to 23 cents per share from 62 cents per share in the year ago period and lowered its full year forecast. The stock price plummeted $6.86 to close at $32.25.

Teleflex To Purchase Arrow International

Teleflex Inc. (TFX) will purchase Arrow International Inc. (ARRO) in an all cash deal valued at approximately $2 billion. Shares of Teleflex edged up 10 cents to close at $85.40 while Arrow stock leaped $6.32 to close at $44.11.

GigaBeam Receives More Orders

One Velocity ordered 24 more WiFiber links from GigaBeam Corp. (GGBM) sending the stock price surging $2.05 to close at $4.85.

Transocean And GlobalSantaFe To Merge

Transocean Inc. (RIG) will merge with GlobalSantaFe Corp. (GSF) to create a new offshore oil drilling company. Shares of Transocean jumped $5.99 to close at $115.96 while GlobalSantaFe stock leaped $3.59 to close at $78.33 .

Investor Group To Buy Cumulus Media

A group of investors will pay $507.7 million in cash to acquire Cumulus Media Inc. (CMLS) sending shares of the radio station operator surging $2.75 to close at $11.12.

Hewlett-Packard To Acquire Opsware

Opsware Inc. (OPSW) will be aquired by Hewlett-Packard Co. (HPQ) in a deal valued at approximately $1.6 billion. Shares of Opsware leaped $3.72 to close at $14.00 while Hewlett-Packard stock eased 11 cents to close at $48.43.

Earnings Drop For CyberSource

CyberSource Corp. (CYBS) blamed soaring expenses for a sharp drop in second quarter earnings and warned of losses for the third quarter. Shares of the electronic payment processor dropped $1.78 to close at $12.03.

Sonoco Reports Lower Earnings

Sonoco Products Co. (SON) reported lower second quarter earnings of 41 cents per share compared with 49 cents per share a year earlier that fell 3 cents short of expectations. Shares of the global packaging maker plummeted $6.30 to close at $38.00.

FDA Approves Nucryst's Topical Cream

The Food and Drug Administration approved Nucryst Pharmaceuticals Corp.'s (NCST) antimicrobial topical cream. The stock price nearly doubled by surging $23.61 to close at $5.84.

FDA Rejects Biovail's Application

The Food and Drug Administration rejected Biovail Corp.'s (BVF) drug application for its antidepressant bupropion sending shares of the pharmaceutical plunging $5.48 to close at $20.03.

Google Misses

Search engine giant Google Inc. (GOOG) reported higher revenues, but earnings missed expectations due to higher personnel and content acquisition costs. The company reported second quarter earnings of $2.93 cents per share compared with $2.33 per share in the year ago period. The stock price plummeted $28.47 to close at $520.12.

Caterpillar Falls Short

Caterpillar Inc. (CAT), a Dow Jones Industrial average component, posted lower profits of $1.24 per share compared with $1.52 per share in the year ago period and missed analyst expectations by 25 cents. The stock price tumbled $3.78 to close at $83.20.

Williams Scotsman To Go Private

Williams Scotsman International Inc. (WLSC) will go private in a deal valued at approximately $1.24 billion. The stock price jumped $4.64 to close at $28.00.

PNC To Acquire Sterling

PNC Financial Services Group Inc. (PNC) will pay approximately $565 million in cash and stock to acquire Sterling Financial Corp. (SLFI). Shares of PNC fell $1.84 to close at $71.37 while Sterling stock leaped $7.11 to close at $17.66.

Earnings Surge For Avici

Second quarter earnings surged to 82 cents per share from 58 cents per share a year earlier for Avici Systems Inc. (AVCI) as revenue increased. Shares of the networking technology company climbed $2.97 to close at $11.39.

Knoll Falls Short

Although second quarter earnings rose to 35 cents per share from 28 cents per share in the year ago period for Knoll Inc. (KNL), the results fell 2 cents short of expectations sending the stock price tumbling $1.93 to close at $20.55.

Juniper Networks Swings To Profit

Juniper Networks Inc. (JNPR) swung to a second quarter profit of 15 cents per share compared with losses of $2.13 per share a year earlier as sales increased. The stock price surged $3.33 to close at $30.06.

Clearwire Partners With Sprint

Clearwire Corp. (CLWR) will partner with Sprint Nextel Corp. (S) to develop a wireless mobile WiMax network. Shares of Clearwire leaped $8.52 to close at $33.30 while Sprint stock eased 15 cents to close at $22.01.

TAM Downgraded

Air transportation serivces company TAM S.A. (TAM) was downgraded after the worst air crash in Brazil's history. The stock price plummeted $3.24 to close at $32.59.

Analyst Warns Of NovaStar's Financial Troubles

Friedman Billings Ramsey analyst Scott Valentin warned that subprime lender NovaStar Financial Inc.'s (NFI) financial problems will worsen sending the stock price plunging $1.25 to close at $5.86.

Semgroup Surges In Market Debut

Shares of Semgroup Energy Partners (SGLP) surged $7.32 to close at $29.32 in its market debut.

PPD Lowers Outlook

Despite reporting higher second quarter earnings of 36 cents per share compared with 31 cents per share in the year ago period, Pharmaceutical Product Development Inc. (PPDI) lowered its full year outlook. The stock price plummeted $5.13 to $33.31.

I2 Warns Of Shortfall

I2 Technologies Inc. (ITWP) warned that full year earnings will fall short of expectations due to disappointing bookings. The stock price tumbled $1.98 to $15.00.

Alfa Receives Offer

Alfa Corp.'s (ALFA) majority shareholders offered to take the insurer private sending the stock price soaring $3.31 to $18.51.

Macy's May Be Taken Private

Shares of Macy's Inc. (M) surged $4.20 to $44.23 on talk of a possible $24 billion takeover by a private equity firm.

Lyondell To Be Acquired

Lyondell Chemical Co. (LYO) was the target of a $12.1 billion cash bid from Dutch chemicals company Basell. Lyondell stock leaped $6.93 to close at $47.05.

Novellus Beats Expectations

Second quarter earnings for Novellus Systems Inc. (NVLS) rose to 45 cents per shares from 42 cents per share in the year ago period, beating expectations by 2 cents. Shares of the semiconductor equipment maker soared $3.34 to close at $33.03.

Assurant Places CEO And CFO On Leave

Assurant Inc. (AIZ) placed its chief executive and chief financial officer on leave after the Securities and Exchange Commission notified the specialty insurer that civil action may be taken against the executives for violating securities laws. A total of five employees have received notices from the SEC and have been placed on leave. The stock price plunged $5.85 to close at $52.95.

Metabasis' Diabetes Drug Fails Trial

Metabasis Therapeutics Inc.'s (MBRX) diabetes drug CS-917 failed a mid-stage clinical trial sending shares of the biopharmaceutical plummeting $3.75 to close at $3.15.

Plains Exploration To Buy Pogo Producing

Pogo Producing Co. (PPP) agreed to be acquired by Plains Exploration & Production Co. (PXP) in a $3.6 billion cash and stock deal. Shares of Pogo leaped $7.02 to close at $57.50 while Plains Exploration tumbled $3.31 to close at $47.88.

LKQ To Acquire Keystone Automotive

LKQ Corp. (LKQX) will pay $811 million in cash to acquire Keystone Automotive Industries Inc. (KEYS). Shares of LKQ soared $3.71 to close at $29.09 while Keystone stock surged $3.19 to close at $46.80.

Dynacq Swings To Profit

Dynacq Healthcare Inc. (DYII) swung to a third quarter profit of 17 cents per share compared with a loss of 5 cents per shares in the year ago period as revenue rose sharply. Shares of the surgical health care services provider leaped $5.41 to close at $7.87.

Syntax-Brillian Raises Outlook

Syntax-Brillian Corp. (BRLC) cited strong demand for raising its full year outlook. The stock price climbed $1.05 to close at $6.61.

DJO Receives Offer From Blackstone

DJO Inc. (DJO) received a $1.3 billion buyout offer from Blackstone Group (BX). Shares of DJO leaped $8.00 to close at $50.10 while Blackstone stock eased 16 cents to close at $29.69.

Spartech Lowers Outlook

Spartech Corp. (SEH) blamed disappointing sales for lowering its full year outlook and also announced the resignation of chief executive George Abd. The stock price plummeted $4.99 to close at $22.33.

Earnings Rise For Mattel

Mattel Inc. (MAT) posted higher net income of 11 cents per share compared with 10 cents per shares in the year ago period as global sales rose. Shares of the world's largest toymaker rose 67 cents to close at $27.20.

IHOP To Buy Applebee's

IHOP Inc. (IHP) offered $1.9 billion in cash to buy Applebee's International Inc. (APPB)restaurant chain. Shares of IHOP surged $4.99 to close at $61.24 while the stock of Applebee's edged up 53 cents to close at $24.91.

Baker Hughes Issues Profit Warning

Baker Hughes Inc. (BHI) issued a profit warnings due to weakness in its Canadian drilling business. Shares of the oil services firm plunged $5.13 to close at $84.00.

Shaw Group Names New CFO

Shaw Group Inc. (SGR) shares leaped $6.50 to close at a new record of $57.58 after naming a new CFO as demand for its engineering services remained strong.

Idenix Stops Clinical Trial

Idenix Pharmaceuticals Inc. (IDIX) stopped clinical trials of its hepatitis C treatment valopicitabine due to disappointing results sending the stock price plunging $2.22 to close at $3.57.

Energizer To Acquire Playtex

Playtex Products Inc. (PYX) will be acquired by Energizer Holdings Inc. (ENR) for approximately $1.16 billion. Shares of Playtex surged $2.45 to close at $17.97 while Energizer stock added 94 cents to close at $107.67.

Macrovision Lowers Outlook

Macrovision Corp. (MVSN) which makes content rights software lowered its outlook due to a delayed deal sending the stock price tumbling $3.56 to close at $26.22.

GE Reports Higher Earnings

General Electric Co. (GE) gave the Dow Jones Industrial Average a lift after reporting solid earnings that rose to 53 cents per shares from 48 cents per share in the year ago period and announcing that it was selling off its subprime loan holdings. The stock price added 50 cents to close at $39.50.

KBR To Manage Chemical Plant Construction

KBR Inc. (KBR) landed a contract to manage the construction of a chemical plant for Armaco and The Dow Chemical Co. (DOW). Shares of KBR climbed $3.93 to close at $35.28 while Dow Chemical stock rose 68 cents to close at $46.13.

Sales Rise For Target

Target Corp. (TGT) reported a 3.3% growth in same store sales for June sending shares of the discount retailer soaring $4.44 to close at $70.04.

Sify Partners With Microsoft

Sify Ltd. (SIFY) partnered with Microsoft Corp. (MSFT) to offer Microsoft Office to the Indian internet service provider's cyber cafe subscribers. Shares of Sify gained 10 cents to close at $10.25 while Microsoft stock edged up 58 cents to close at $30.07.

Strong Sales For Wal-Mart

Wal-Mart Stores Inc. (WMT) announced higher than expected sales growth for the month of June lifting the stock price $1.15 to close at $48.83.

Rio Tinto Offers $38 Billion For Alcan

The bidding war for Alcan Inc. (AL) went another round with Rio Tinto plc (RTP) making a bid of $38 billion, topping Alcoa Inc.'s (AA) $28 billion offer. Shares of Alcan leaped $8.85 to close at $98.45 while Rio Tinto stock plunged $6.71 to close at $317.71. Shares of Alcoa soared $2.86 to close at $45.29.

Macy's Disappoints

Macy's Inc. (M) diappointed with a sharper than expected 2.7% drop in June same store sales sending shares of the department store down $1.16 to close at $39.25.

SLM Acquisition May Be Threatened

Pending legislation before Congress may threaten the $25 billion deal by a group of investors to purchase SLM Corp. (SLM). The stock price plunged $5.65 to close at $52.15.

NYSE Euronext Upgraded

Lehman Bros. analyst Roger Freeman upgraded NYSE Euronext Inc. (NYX) saying that the stock price of the trans-Atlantic stock exchange was heavily discounted. The stock price surged $4.31 to close at $82.11.

Additional $4.4 Million In Orders For Amtech

Amtech Systems Inc. (ASYS) received an additional $4.4 million in new solar orders sending the stock price surging $2.07 to close at $12.07.

Megasoft To Acquire Boston Communications

Indian computer programmer Megasoft Ltd. will pay approximately $65 million to acquire Boston Communications Group Inc. (BCGI) sending shares of the billing and payment software maker soaring $1.41 to close at $3.40.

Infosys Cuts Outlook

Infosys Technologies Ltd. (INFY), an India-based outsourcing firm, cut its outlook for the year due to higher payroll costs and a strong rupee currency. The stock price fell $1.15 to close at $51.68.

Sales Down For Chico's FAS

Women's apparel retailer Chico's FAS Inc. (CHS) reported same-store sales down more than 7% sending the stock price tumbling $1.17 to close at $22.45.

Noven To Buy JDS

Noven Pharmaceuticals Inc. (NOVN) will pay approximately $125 million in cash to purchase JDS Pharmaceuticals LLC. The stock price dropped $2.25 to close at $21.30.

Pantry Lowers Outlook

Pantry Inc. (PTRY) blamed low gasoline margins for forecasting third quarter results below expectations and for reducing its full year outlook. The stock price plummeted $6.85 to close at $39.82.

Allis-Chambers To Supply Additional 17 Rigs

Allis-Chambers Energy Inc. (ALY) will supply Pan American Energy with an additional 17 drilling and service rigs in Argentina. The stock price climbed $1.52 to close at $26.17.

Disappointing Results For DepoMed

DepoMed Inc. (DEPO) reported disappointing results in its late-stage clinical trial for its shingles pain treatment sending the stock price plunging $2.84 to $2.09.

Sears Lowers Forecast

Sears Holdings Corp. (SHLD) lowered its earnings forecast due to disappointing sales of home appliances at its Sears and Kmart stores. The stock price plummeted $14.33 to $157.08.

Gemstar Exploring Sale

Gemstar-TV Guide International Inc. (GMST) announced that it was exploring the sale of the company and other options sending the stock price up 59 cents to $5.93.

Isis To Receive $26.5 Million From Alnylam

Isis Pharmaceuticals Inc. (ISIS) will receive $26.5 million in upfront fees from Alnylam as part of its share of the agreement between Alnylam and Roche. The stock price climbed $1.73 to close at $11.80.

Taser Unveils Shockwave

Taser International Inc. (TASR) unveiled its new Shockwave unit for military use sending the stock price soaring $2.56 to close at $16.62.

Rosetta CEO Resigns

Rosetta Resources Inc. (ROSE) chairman, president and chief executive Bill Berilgen resigned sending the stock price tumbling $2.66 to close at $19.25.

First Solar Lands Five New Contracts

First Solar Inc. (FSLR) landed five long term contracts worth approximately $1.28 billion. Shares of the solar module maker leaped $23.05 to close at $119.34.

Children's Place Expects Loss

The Childrens Place Retail Stores Inc. (PLCE) issued a forecast for a loss in the second quarter due to declining same-store sales. Shares of the children's retailer plummeted $6.12 to close at $46.42.

Alnylam Signs License Deal With Roche

Alnylam Pharmaceuticals Inc. (ALNY) signed a deal to license up to $1 billion worth of drugs to Roche sending the stock price soaring $7.92 to close at $23.12.

Chicago Mercantile Ups Bid For CBOT

Chicago Mercantile Exchange Holdings Inc. increased its bid to acquire the Chicago Board of Trade (BOT) from $8 billion to more than $11 billion. Shares of CBOT leaped $17.85 to close at $224.00.

Macy's Climbs Ahead Of Sales Release

Macy's Inc. (M) stock climbed $2.22 to close at $41.99 in anticipation of the release of same store sales next week.

Rumor Lifts Target Shares

Shares of Target Corp. (TGT) surged $3.89 to close at $68.10 over rumors that the retailer may sell its credit card business.

Newmont Mining Drops Gold Hedges

Newmont Mining Corp. (NEM) dropped its gold hedges, a bullish sign indicating higher gold prices in the future. The stock price climbed $2.20 to close at $41.78.

Texas Attorney General Sues Mannatech

The Texas attorney general sued Mannatech Inc. (MTEX) claiming that the nutritional products company operated an illegal marketing scheme. The stock price plummeted $3.75 to close at $12.25.

Parametric Technology Trims Outlook

Parametric Technology Corp. (PMTC) shares plunged $4.34 to close at $17.23 after the design and engineering software company trimmed its sales and profit outlook.

Hearst Takes Stake In Local.com

Hearst Communications purchased a 22.4% stake in search engine Local.com Corp. (LOCM). The stock price leaped $4.06 to close at $12.93.

Huntsman Receives Another Offer

Chemical company Huntsman Corp. (HUN) reportedly received another buyout offer from a private equity firm sending the stock price soaring $3.06 to close at $27.46.

GM Downgraded

Weak June sales prompted analysts to downgrade General Motors Corp. (GM). Shares of the automaker tumbled $1.22 to close at $36.76.

Penson Lowers Outlook

Brokerage and clearing firm Penson Worldwide Inc. (PNSN) lowered its outlook sending the stock price plunging $6.25 to close at $19.11.

Apple Surges To New Record

Apple Inc. (AAPL) shares surged $5.58 to a new record close of $132.75 on reports that 1 million iPhones have been activated in less than a week.

Hilton Receives Buyout Offer

Hilton Hotels Corp. (HLT) was the target of a $26 billion offer from Blackstone Group. The stock price leaped $9.34 to close at $45.39.

Caterpillar Downgraded

Caterpillar Inc. (CAT) shares pulled back $2.46 to close at $77.99 on an analyst downgrade against a backdrop of declining factory orders in May.

Movie Gallery Defaults

Movie Gallery Inc. (MOVI) shares plunged $1.23 to close at $66 cents after the movie and video game renter indicated a default on certain financial requirements.

Shoretel Surges In Debut

Shoretel Inc. (SHOR) surged $2.65 to close at $12.15 on its initial public offering. The Internet-based telecommunications provider priced its offering at $9.50 a share.

iPhone Launch Boosts Synchronoss

Synchronoss Technologies Inc. (SNCR) was identified as a company that provides services to AT&T Inc. (T) to support the iPhone launch. Shares of Synchronoss leaped $4.45 to close at $33.04 while AT&T stock eased 35 cents to close at $41.50.

Par Pharmaceutical Upgraded

An analyst upgraded Par Pharmaceutical Cos. (PRX) after the generic drug maker licensed the rights to BioAlliance Pharma's thrush treatment Loramyc. The stock price gained $1.75 to close at $30.30.

Bill Barrett Added To S&P MidCap 400

Bill Barrett Corp. (BBG) will replace Laureate Education, which is being acquired, on the S&P MidCap 400. Shares of the oil and gas company climbed $2.07 to close at $38.40.

Walgreen To Acquire Option Care

Option Care Inc. (OPTN) will be acquired by Walgreen Co. (WAG) for approximately $850 million. Shares of Option Care surged $3.84 to close at $19.24 while Walgreen stock edged up 17 cents to close at $43.71.

Focus Media Delays Filing

Focus Media Holding Ltd. (FMCN) delayed its annual filing as an audit committee started an internal inquiry sending the stock price tumbling $4.33 to $46.16.

Manor Care Receives Offer

Manor Care Inc. (HCR), a provider of short-term post-acute services and long-term care, was the target of a $4.9 billion offer from private equity firm Carlyle Group. The stock price fell $1.07 to $64.22.

AT&T To Buy Dobson

AT&T Inc. (T) announced plans to buy Dobson Communications Corp. (DCEL), a rural wireless provider, for $2.8 billion. Shares of Dobson climbed $1.29 to $12.40 while AT&T stock edged up 14 cents to $41.64.