Tuesday, October 23, 2007
Netflix Inc. (NFLX) reported higher third quarter earnings of 23 cents per share compared with 18 cents per share a year earlier. The results surpassed expectations and prompted the company to lift its fourth quarter outlook. Shares of the online DVD rental company leaped $2.98 to close at $25.99.
Earnings Drop For Ultra Clean
Ultra Clean Holdings Inc. (UCTT) blamed weak demand for a sharp drop in third quarter earnings to 16 cents per share from 25 cents per share in the year ago period and warned that fourth quarter results will fall short of expectations. The stock price tumbled $2.14 to clsoe at $13.28.
Texas Instruments Downgraded
Analysts downgraded Texas Instruments Inc. (TXN) on worries that its wireless chip business may face margin pressures sending the stock price plunging $2.84 to close at $31.43.
Level 3 Widens Losses
Level 3 Communications Inc. (LVLT) continued to struggle as it reported a wider loss and lowered its outlook for 2007 and 2008 due to a glut in bandwidth capacity. The stock price tumbled $1.04 to close at $3.28.
Income Surges For AT&T
AT&T Inc. (T) posted higher earnings and revenues that doubled as the nation's largest telecommunications company cited growth in its wireless business while completing its acquisition of BellSouth. The stock price gained 85 cents to close at $42.02.
Apple Inc. (AAPL) polished off a solid quarter with earnings that surged to $1.01 per share from 62 cents per share a year earlier as sales of its Macintosh computers, iPods and iPhones beat expectations. The stock price leaped $11.80 to close at $186.16.
Friday, October 19, 2007
Polysilicon Supply Concerns Weigh Down LDK
Concerns about a shortage of polysilicon supplies weighed down shares of LDK Solar Co. Ltd.(LDK). Shares of the solar wafer maker plunged $5.78 to close at $35.73.
PMC-Sierra Narrows Losses
PMC-Sierra Inc. (PMCS) narrowed third quarter losses to 3 cents per share from 5 cents per share last year and beat expectations as expenses dropped. Shares of the chip maker climbed 73 cents to close at $9.75.
SanDisk Earnings Tumble
Third quarter earnings tumbled to 36 cents per share from 51 cents per share for SanDisk Corp. (SNDK) due to higher costs and acquisition related charges. Shares of the flash memory drive maker plummeted $7.60 to close at $42.71.
Caterpillar Inc. (CAT) reported third quarter earnings of $1.40 per share compared with $1.14 per share a year earlier. The results fell 3 cents short of expectations prompting the heavy equipment maker to cut its full year guidance. The stock price tumbled $4.09 to close at $73.57.
Informatica Corp. (INFA) beat expectations with higher third quarter earnings of 15 cents per share compared with 10 cents per share last year. Shares of the data integration software company gained 98 cents to close at $16.74.
TempurPedic Posts Higher Earnings
TempurPedic International Inc. (TPX) reported higher third quarter earnings of 49 cents per share compared with 34 cents per share in the year ago period to surpass estimates and lifted its full year outlook. Shares of the mattress maker rose 36 cents to close at $34.04.
Thursday, October 18, 2007
IMS Falls Short
IMS Health Inc. (RX) blamed higher tax expenses for third quarter earnings that slipped to 29 cents per share from 34 cents per share in the year ago period, falling 4 cents short of expectations. Shares of the market research company plunged $6.44 to close at $23.12.
Bright Horizons Warns Of Shortfall
Bright Horizons Family Solutions Inc. (BFAM) warned that third quarter results will fall short of expectations due to lower enrollment. The stock price plummeted $7.84 to close at $38.49.
EBay Posts Loss
EBay Inc. (EBAY) posted a loss of 69 cents per share compared with earnings of 20 cents per share in the year ago period due to a significant write-down of its Skype acquisition. Shares of the online auction site dropped $2.50 to close at $38.10.
Earnings Rise For Logitech
Logitech International (LOGI) posted higher sales and profits, but noted that the computer peripheral maker will write down a portfolio of bad investments. The stock price surged $6.77 to close at $36.26.
Price Target Lifted For Paragon
Cantor Fitzgerald cited rising dry bulk rates for lifting the price target for Paragon Shipping Inc. (PRGN) sending the stock price up $1.78 to close at $25.94.
Galencia To Acquire Aspreva
Galencia Group will acquire Aspreva Pharmaceuticals Corp. (ASPV) in a deal valued at approximately $915.2 million. Shares of Aspreva jumped $3.11 to close at $25.61.
Wednesday, October 17, 2007
First Cash Disappoints
Although First Cash Financial Services Inc. (FCFS) reported higher third quarter earnings of 32 cents per share compared with 25 cents per share in the year ago period, the results fell a penny short of expectations. Shares of the pawn shop operator tumbled $2.93 to close at $20.99.
Trans1 Surges In Debut
Shares of Trans1 Inc. (TSON) leaped $9.00 to close at $24.00 in its market debut.
Although Yahoo Inc. (YHOO) reported a slight drop in third quarter earnings to $151.3 million, or 11 cents per share, compared with $158.5 million a year earlier, also 11 cents per share due to more stock on the open market, the results beat expectations. The stock price soared $2.13 to close at $28.82.
WebMD Lowers Outlook
WebMD Health Corp. (WBMD) lowered its revenue outlook while raising its profit forecast. The stock price plummeted $7.89 to close at $50.10.
Exact Sciences Needs FDA Approval
The FDA notified Exact Sciences Corp. (EXAS) that the company's PreGen-Plus colorectal screening device needs approval before going to market sending the stock price tumbling $1.30 to close at $4.72.
China TechFaith Wins Government Contract
China TechFaith Wireless Communication Technology Ltd. (CNTF) won a government contract to develop a phone for police forces in two Chinese provinces. The stock price soared $1.56 to close at $7.90.
Tuesday, October 16, 2007
Robbins & Myers Earnings More Than Double
Robbins & Myers Inc. (RBN) posted profits that more than doubled to $1.10 per share compared with 56 cents per share in the year ago period as the industrial equipment maker boosted sales and cut costs. The stock price leaped $11.05 to close at $72.14.
Immunomedics Gets Patent
Immunomedics Inc. (IMMU) was awarded a U.S. patent for an antibody used in the treatment of pancreatic cancer sending shares of the biopharmaceutical soaring 68 cents to close at $3.24.
Lululemon Lifts Forecast
Lululemon Athletica Inc. (LULU) lifted its same store sales forecast for the third quarter and expects earnings to surpass expectations. Shares of the Canadian athletic clothing retailer leaped $6.17 to close at $47.30.
ValueClick Inc. (VCLK) warned that third quarter results will come in at the low end of expectations and cut its full year sales outlook sending shares of the online advertising firm tumbling $3.23 to close at $24.55.
Ericsson Warns Of Earnings Miss
LM Ericsson Telephone Co. (ERIC) warned that third quarter sales and earnings would miss expectations. The stock price plummeted $9.60 to close at $31.33.
E. W. Scripps To Spin Off Unit
E. W. Scripps Co. (SSP) announced plans to spin off its cable and interactive units into a separate company sending the stock price soaring $3.65 to close at $45.93.
Monday, October 15, 2007
UBS Investment Research analyst J. David Anderson downgraded Dril-Quip Inc. (DRQ) saying that margins are expected to fall. Shares of the offshore drilling equipment maker plunged $3.97 to close at $49.93.
China Petroleum Upgraded
Citi Investment Research analyst Graham Cunningham upgraded China Petroleum & Chemical Corp. (SNP) saying that the stock is underpriced. Shares of the oil and gas company leaped $16.62 to close at $165.57.
Phazar Reverses Losses
Phazar Corp. (ANTP) reversed year ago losses of 4 cents per share to post a profit of 8 cents per share for the first quarter. The stock price leaped $2.95 to close at $10.52.
Level 3 CFO To Step Down
The CFO of Level 3 Communications Inc. (LVLT) planned to step down by the first quarter of 2008. The stock price fell 54 cents to close at $4.36.
Medtronic Suspends Defibrillator Sales
Shares of Medtronic Inc. (MDT) plunged $6.33 to close at $50.00 after the company suspended sales of its defibrillator due to risk of breakage.
Biogen May Sell Itself
Biogen Idec Inc. (BIIB) said that it planned to explore a sale of the company sending the stock price soaring $13.08 to close at $82.51.
Friday, October 12, 2007
GM's New Contract With UAW To Save More Than Expected
Analysts expect General Motors Corp.'s (GM) new contract with the United Auto Workers union will save the automaker more money than originally forecast. The stock price soared $2.65 to close at $42.64.
BP plc (BP) announced a restructuring plan to simplify operations sending the stock price soaring $3.61 to close at $75.43.
W-H Lowers Expectations
Analysts downgraded W-H Energy Services Inc. (WHQ) after the oil services company warned that lower revenues from its coiled tubing business will dampen third quarter results. The stock price plummeted $10.97 to close at $61.10.
Allegheny Tech Lowers Outlook
Shares of Allegheny Technologies Inc. (ATI) plunged $6.61 to close at $100.04 after the steel product maker lowered its full-year outlook.
Coldwater Creek Warns Of Loss
Apparel retailer Coldwater Creek Inc. (CWTR) unexpectedly issued a forecast for a loss instead of a profit citing more price markdowns. The stock price plummeted $3.05 to close at $7.82.
Oracle Makes Unsolicited Bid For BEA Systems
Shares of BEA Systems Inc. (BEAS) soared $5.20 to close at $18.82 after Oracle Corp. (ORCL) made an unsolicited bid for $6.66 billion. Oracle stock eased 2 cents to close at $22.44.
Thursday, October 11, 2007
Oppenheimer analyst Vijay Rakesh cited pricing pressures for downgrading SanDisk Corp. (SNDK). The stock price tumbled $2.98 to close at $48.70.
J. C. Penney Cuts Outlook
J. C. Penney Company Inc. (JCP) cut its third quarter outlook after reporting a sharp 4.6% drop in same store sales. Shares of the department store plunged $4.73 to close at $63.27.
NPS Reports Disappointing Drug Results
NPS Pharmaceuticals Inc. (NPSP) reported disappointing results from a late stage clinical trial for its short bowel syndrome treatment Gattex. Shares of the biopharmaceutical plunged $1.47 to close at $4.21.
InPhonic Exploring Alternatives
InPhonic Inc. (INPC) announced that the company is exploring strategic alternatives to increase cash liquidity, including the option of selling the company. The stock price plummeted $1.17 to close at 77 cents.
American Eagle Outfitters Lowers Guidance
American Eagle Outfitters Inc. (AEO) posted slow September sales and lowered its earnings guidance. Shares of the teen retailer edged up 37 cents to close at $24.95.
Wal-Mart Raises Outlook
Wal-Mart Stores Inc. (WMT) raised its third quarter profit outlook citing higher than expected same-store sales. Shares of the discount retailer rose $1.31 to close at $46.90.
Wednesday, October 10, 2007
Downey Financial Warns Of Losses
Downey Financial Corp. (DSL) warned of losses for the third quarter as mortgage delinquencies and defaults rose. The stock price leaped $6.25 to close at $53.12.
Costco Earnings Rise
Fourth quarter earnings rose to 83 cents per share from 75 cents per share in the year ago period to beat expectations for Costco Wholesale Corp. (COST) as sales increased. Shares of the warehouse club retailer surged $5.82 to close at $69.13.
U. S. Global's Funds Ranked Among Top Performers
The Wall Street Journal ranked seven of U. S. Global Investors, Inc.'s (GROW) stock funds among the top 1% performers sending the stock price soaring $3.88 to close at $22.88.
China Sunergy Signs Supply Contract
Luoyang Zhonggui High-tech will supply China Sunergy Co. Ltd. (CSUN) with 106 metric tons of virgin solar grade multicystalline polysilicon. Shares of the solar cell maker soared $1.61 to close at $13.78.
Search Warrant Issued For Youbet.com Records
A search warrant was issued for various customer records of Youbet.com Inc. (UBET) sending the stock price plunging 52 cents to close at $1.48.
Origin Agritech Makes Forbes List
Forbes Asia named Origin Agritech Limited (SEED) as one of Asia's Best Under A Billion companies. The stock price leaped $4.99 to close at $12.73.
Tuesday, October 09, 2007
LDK Lifts Guidance
LDK Solar Co. Ltd. (LDK) lifted its third quarter guidance. Shares of the solar wafer maker leaped $7.29 to close at $44.79.
ValueClick Is Good Acquisition Target
Mad Money's Jim Cramer said that ValueClick Inc. (VCLK) is a good acquisition candidate sending the stock price soaring $2.68 to close at $28.20.
J. P. Morgan downgraded The Cooper Companies Inc. (COO) on the expectation that earnings will drop sending the stock price plunging $2.15 to close at $47.43.
Thornburg Warns Of Wider Losses
Thornburg Mortgage Inc. (TMA) warned that third quarter losses will be wider than expected sending the stock price tumbling $1.17 to close at $12.29.
Stifel Nicolaus & Co. analyst Paul Forward upgraded Massey Energy Co. (MEE) citing improved coal output and higher prices. The stock price climbed $2.60 to close at $25.31.
Successful Demonstration Of Electric Vehicle
Altair Nanotechnologies Inc. (ALTI), AeroVironment Inc. (AVAV), Micro-Vett SPA and Go Green Holding AS jointly announced that their all electric delivery vehicle successfully completed a delivery circuit. Shares of Altair leaped $1.08 to close at $4.53 while AeroVironment stock rose 90 cents to close at $26.09.
Monday, October 08, 2007
Cognos Rises Over Acquisition Speculation
Speculation that Cognos Inc. (COGN) will be acquired lifted shares of the applications software company $6.05 to close at $50.50.
SAP Offers $6.79 Billion For Business Objects
SAP AG (SAP) offered $6.79 billion in cash and stock to buy Business Objects SA (BOBJ). Shares of SAP tumbled $2.87 to close at $56.36 while Business Objects stock leaped $7.56 to close at $57.83.
Noven Reports Disappointing Drug Data
Noven Pharmaceuticals Inc.'s (NOVN) bipolar disorder treatment Lithium QD failed a late stage clinical trial sending the stock price plunging $3.64 to close at $13.05.
Edge Petroleum Cuts Outlook
Edge Petroleum Corp. (EPEX) blamed drilling problems for cutting both its third quarter as well as its full year production forecasts sending the stock price plummeting $2.93 to close at $9.81.
China Tech Posts Profit
China Technology Development Group Corp. (CTDC) posted a profit for the six months ended June 30, 2007 compared with losses a year earlier. The stock price soared $2.03 to close at $10.39.
Hexagon To Acquire NovAtel
Hexagon AB will purchase NovAtel Inc. (NGPS) in a deal worth approximately $390 million sending shares of the global positioning system equipment maker soaring $7.22 to close at $49.65.
Friday, October 05, 2007
China Natural Says No New Developments
China Natural Resources Inc. (CHNR) issued a statement yesterday saying that there have been no significant business developments to explain the recent surge in its stock price. The stock price plunged $4.51 to close at $39.75.
Map Surges In Debut
Shares of Map Pharmaceuticals Inc. (MAPP) surged $1.35 to close at $13.35 on its first trading day.
Earnings Double For Research In Motion
Second quarter earnings doubled to 50 cents per share from 25 cents per share in the year ago period for Research in Motion Ltd. (RIMM) as sales surged. Shares of the Blackberry maker jumped $12.83 to close at $113.37.
SupportSoft Cuts Outlook
SupportSoft Inc. (SPRT) cut its third quarter as well as its full year revenue guidance and forecast a wider than expected loss for the year sending the stock price plummeting $1.42 to close at $4.91.
Natural Health Launches Retail Program In China
Natural Health Trends Corp. (BHIP) will launch a buyers club style retail program in China sending the stock price soaring 54 cents to close at $5.19.
Conolog Accelerates Orders
Conolog Corp. (CNLG) will accelerate the delivery of its systems in order to meet client demands. The stock price leaped $1.16 to close at $2.78.
Thursday, October 04, 2007
Analysts downgraded Isilon Systems Inc. (ISLN) after the company cut its third quarter sales guidance. The stock price plunged $1.34 to close at $5.66.
Immucor's Earnings Rise
First quarter earnings for Immucor Inc. (BLUD) rose to 25 cents per share from 18 cents per share in the year ago period to surpass expectations. The stock price jumped $3.74 to close at $39.00.
Hollis-Eden Reports Positive Test Results
Hollis-Eden Pharmaceuticals Inc. (HEPH) reported positive results from a preclinical trial of its prostate cancer treatment HE3235. The stock price soared 50 cents to close at $2.54.
Benchmark Electronics Lowers Outlook
Benchmark Electronics Inc. (BHE) lowered its outlook due to soft demand for its electronic manufacturing services sending the stock price down $2.36 to close at $21.56.
NutriSystem Lowers Outlook
Shares of NutriSystem Inc. (NTRI) plummeted $15.98 to close at $31.59 after the comany lowered its outlook.
LDK Says No Wrongdoing
Chinese solar wafer maker LDK Solar Co. Ltd. (LDK) announced that its internal investigation revealed no financial wrongdoing. The stock price tumbled $3.35 to close at $48.30.
Wednesday, October 03, 2007
Oversupply Concerns Weigh Down Micron
Concerns about an oversupply of memory chips weighed down shares of Micron Technology Inc. (MU) $1.10 to $10.69.
Disappointing Macau Revenue Weighs Down Wynn
Morgan Stanley analyst Celeste Mellet Brown said that preliminary September gaming revenue in Macau was far lower than expected sending shares of Wynn Resorts Ltd. (WYNN) plunging $13.27 to $152.56.
Opinion Raised For Ciena
Analysts raised their opinion of Ciena Corp. (CIEN) citing growth and improving profit margins for the telecommunications equipment maker. The stock price soared $2.54 to $45.20.
Beijing Tourism Group Licenses e-Future's Software
Shares of e-Future Information Technology Inc. (EFUT) leaped $10.02 to $29.02 after the Beijing tourism group licensed its purchasing software.
Tuesday, October 02, 2007
EFJ Warns Of Losses
EFJ Inc. (EFJI) warned of significant losses for the third quarter and cut its full year revenue guidance sending the stock price plummeting 41.95 to close at $3.88.
Baidu.com's Price Expected To Climb
J. P. Morgan analyst Dick Wei initiated coverage of Baidu.com Inc. (BIDU) with a rating of Overweight saying that the stock price will climb as Internet use expands in China. The stock price leaped $35.77 to close at $320.58.
TD Offers $8.5 Billion For Commerce Bancorp
TD Bank Financial Group (TD) offered $8.5 billion to buy Commerce Bancorp Inc. (CBH). Shares of TD plunged $4.29 to close at $72.65 while Commerce stock eased 14 cents to close at $39.47.
Garmin Continues Slide
Shares of Garmin Ltd. (GRMN) continued to plummet by falling another $7.13 to close at $100.10 over concerns that Nokia Corp.'s (NOK) acquisition of Navteq Corp. (NVT) will limit Garmin's access to mapping data. Shares of Nokia slipped 68 cents to close at $37.28 while Navteq stock eased 35 cents to close at $76.10.
Miva Trims Outlook
Miva Inc. (MIVA) blamed lower revenue for trimming its third quarter outlook. Shares of the online media and advertising network company plunged $1.68 to close at $2.96.
PerkinElmer To Acquire ViaCell
PerkinElmer Inc. (PKI) will pay $300 million to acquire ViaCell Inc. (VIAC). Shares of PerkinElmer fell 95 cents to close at $28.91 while ViaCell stock leaped $2.41 to close at $7.18.
Monday, October 01, 2007
Price Target For Excel Maritime Lifted
Cantor Fitzgerald analyst Natasha Boyden lifted her price target for Excel Maritime Carriers Ltd. (EXM) to $68 from $52 sending the stock price soaring $4.65 to close at $60.45.
Pulte Homes Upgraded
Citigroup analyst Stephen Kim upgraded Pulte Homes Inc. (PHM) saying that homebuilders have hit bottom and are poised to rebound. The stock price climbed $1.18 to close at $14.79.
Belo Spins Off Newspaper Business
Belo Corp. (BLC) will spin off its newspaper business sending the stock price soaring $3.25 to close at $20.61.
Radvision Ltd. (RVSN) warned that third quarter results will fall short of expectations sending the stock price plunging $3.06 to close at $14.50.
Acxiom's Acquisition Deal Terminated
The $2.25 billion deal to take Acxiom Corp. (ACXM) private by Silver Lake and Value Act Capital has been terminated. The stock price plummeted $3.90 to close at $15.89.