Jim Cramer Blog

Here are 7 stocks for traders for Monday from TradingMarkets.com:
Alberto-Culver (NYSE:ACV - News) reports earnings on Monday before the market opens, with traders looking for $0.26 EPS. ACV's PowerRating (for Traders) is 5.
Black & Decker (NYSE:BDK - News) announces quarterly results on Monday morning; watch for $1.03 EPS. BDK's PowerRating (for Traders) is 4.
Halliburton (NYSE:HAL - News) is poised to report $0.69 EPS on Monday morning before the bell. HAL's PowerRating (for Traders) is 4.
When McDonald's (NYSE:MCD - News) announces results on Monday morning, traders will be watching for $0.71 EPS. MCD's PowerRating (for Traders) is 4.
Tyson Foods (NYSE:TSN - News) expects to report $0.04 EPS on Monday morning. TSN's PowerRating (for Traders) is 5.
Analysts will be watching for Verizon (NYSE:VZ - News) to report for $0.62 EPS on Monday morning. VZ's PowerRating (for Traders) is 5.
On Monday afternoon, watch for SanDisk (NasdaqGS:SNDK - News) to report $0.64 EPS. SNDK's PowerRating (for Traders) is 5.

Labels: ACV, BDK, HAL, Hot Stocks, MCD, SNDK, TSN, VZ

Tyson Foods Inc., the world's largest meat company, swung to a profit Monday for its fourth quarter, but forecast earnings for this year below what analysts were expecting.
Tyson shares fell 4 percent in morning trading.
The company cited cost-cutting for the improved performance in the July-September period but said cost pressures will rise this fiscal year.
Tyson earned $32 million, or 9 cents per share, in the three months ended Sept. 29 versus a loss of $56 million, or 17 cents per share, a year ago.
Revenue rose 6 percent to $6.88 billion from $6.47 billion in the year-ago quarter.
Analysts polled by Thomson Financial expected a profit of 10 cents per share on revenue of $6.73 billion. The earnings estimates typically exclude one-time items.

Labels: TSN, Tyson Foods Inc.

Here are 7 stocks for traders for Monday from TradingMarkets.com:
Leap Wireless (NasdaqGS:LEAP - News) lost 35% on Friday, after announcing plans to correct accounting revenue mistakes from 3 years ago. LEAP's PowerRating (for Traders) is 7.
Merck (NYSE:MRK - News) rallied over 4% on Friday, on news that the company will pay nearly $5 billion to settle the majority of the company's Vioxx-related lawsuits. MRK's PowerRating (for Traders) is 6.
Blackstone (NYSE:BX - News) reports earnings on Monday before the bell, with traders looking for $0.33 EPS. BX does not have a PowerRating (for Traders) due to its short trading histroy.
Analysts are watching for EchoStar (NasdaqGS:DISH - News) to announce $0.44 EPS on Monday before the market opens. DISH's PowerRating (for Traders) is 5.
Tyson Foods (NYSE:TSN - News) is looking to report $0.10 EPS on Monday morning. TSN's PowerRating (for Traders) is 5.
Globecomm Systems (NasdaqGM:GCOM - News) and Bob Evans (NasdaqGS:BOBE - News) both report earnings after the close on Monday, so watch for heightened price action and volatility ahead of the bell. GCOM's PowerRating (for Traders) is 7, and BOBE's PowerRating (for Traders) is 5.

Labels: BOBE, BX, DISH, GCOM, Hot Stocks, LEAP, MRK, TSN

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Men's Warehouse (NYSE:MW - News). MW's PowerRating (for Traders) is 7.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Infineon Technologies (NYSE:IFX - News). IFX's PowerRating (for Traders) is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Integra Lifesciences (NasdaqGS:IART - News). IART's PowerRating (for Traders) is 6.
Bearish
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Cardinal Health (NYSE:CAH - News). CAH's PowerRating (for Traders) is 3.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Pfizer (NYSE:PFE - News). PFE's PowerRating (for Traders) is 4.
2-Period RSI Above 98: These are stocks that have a 2-day RSI reading above 98 and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average with a 2-period RSI reading above 98 have shown negative returns, on average, 1-day and 1-week later. Historically, these stocks have provided traders with a significant edge.
Tyson Foods (NYSE:TSN - News). TSN's PowerRating (for Traders) is 3.
Stocks Up 10% or More: These are stocks that have gained 10% or more over the past five days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Interoil Corporation (NYSE:IOC - News). IOC's PowerRating (for Traders) is 3.
Published By TradingMarkets.com

Labels: CAH, Hot Stocks, IART, IFX, IOC, MW, pfe, TSN

Here are 7 options to watch for Today from www.tradingmarkets.com.
Most Underpriced Calls: These are the most under priced calls of all stocks in our database. While the Equities Explosion List finds groups of calls for individual equities that are under priced, this list finds the most under priced individual calls. Thus, the options listed here will tend to be more severely under priced.

BHP Billiton Nov 80 Calls (NYSE:BHP - News). BHP's PowerRating (for Traders) is 5.
Most Underpriced Puts: These are the most under priced puts of all stocks in our database. While the Equities Explosion List finds groups of puts for individual equities that are under priced, this list finds the most under priced individual puts. Thus, the options listed here will tend to be more severely under priced.
Biogen Idec Sep 65 Puts (NasdaqGS:BIIB - News). BIIB's PowerRating (for Traders) is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. While the Equities Implosion List finds groups of calls for individual equities that are overpriced, this list finds the most overpriced individual calls. Thus, the options listed here will tend to be more severely overpriced.
SanDisk Oct 60 Calls (NasdaqGS:SNDK - News). SNDK's PowerRating (for Traders) is 6.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. While the Equities Implosion List finds groups of puts for individual equities that are overpriced, this list finds the most overpriced individual puts. Thus, the options listed here will tend to be more severely overpriced.
CME Group Sep 520 Puts (NYSE:CME - News). CME's PowerRating (for Traders) is 5.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
None today.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
Tyson Foods (NYSE:TSN - News). TSN's PowerRating (for Traders) is 5.
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Dell (NasdaqGS:DELL - News). DELL's PowerRating (for Traders) is 5.

Labels: BHP, BIIB, CME, DELL, SNDK, stock options, TSN

Stocks suffered large losses across the board, ending a two day rally in the stock market as credit fears and poor housing data contributed to a broad sell-off. At the close, the Dow Jones and S&P 500 lost a little more than 1% on the session, while the Nasdaq gave up -0.92%. Crude oil was up yet again, rising 65 cents to $75.73 a barrel.
The Fed released the much anticipated Beige Book today which stated that economic activity continued to expand in most of the nation's twelve districts at a modest pace in the month of August. However, the pace of growth slowed in some notable regions. The report also noted that much of the turmoil in the credit markets appears to be contained.
On the housing front, the National Association of Realtors announced today that pending home sales dropped -12.2% in July, much worse than economists' estimates of a decline of -2.2%. In related news, a private report showed that investors bought the fewest commercial properties in more than a year. Additionally, apartment building acquisitions fell by -50% from June levels.
The London Interbank offered rate or LIBOR, which is the rate banks charge each other in dollar terms for three months, rose for the 10th straight day on concerns that losses on securities linked to U.S. subprime mortgage problems will increase. LIBOR rates increased to 5.72%, the highest level since early 2001.
In corporate news, several big box retailers came out with August same-store sales. Among them, Costco (Nasdaq: COST - News) reported same-store sales growth of 2%, well below the 5.6% that analysts had expected. Total sales in the month were $4.84 million, up from $4.56 billion last year. The company said the poor results were the result of lower tobacco sales and a lower price for gasoline. Investors were not sympathetic, sending the shares down -4.2%. Chief rival BJ Wholesale Club (NYSE: BJ - News) reported a 1.4% rise in same-store sales for the month and total sales climbed 6.4% to $661.7 million.
Food giant Kraft Foods (NYSE: KFT - News) pleased investors today when it upped its earnings forecast for the full year to $1.60-1.62 a share, up from its previous range of $1.50-1.52 a share. Excluding items, it expects to report EPS for the year of $1.80-1.82 a share. Analysts were expecting $1.80. The company cited strength in its growth initiatives and a lower tax rate for the improved outlook. Shares rose 1.4%. Subscribers can read our analysis of Kraft in today's issue. Also in the food sector, meat producer Tyson Foods (NYSE: TSN - News) chopped its yearly profit forecast as it is facing a tougher-than-expected fourth quarter. The company sees EPS of 72-80 cents a share for the year ending September 30th. In July, the company had said earnings would be in a range of 82-92 cents a share. Rising cattle and hog costs coupled with disruption in the South Korean beef trade are to blame for the shortfall. Shares plunged by -13%.
Toymaker Mattel (NYSE: MAT - News) continues to have its problems in China, as the company announced for the third time that it will recall toys that contain a high level of toxic led paint. The company is recalling 844,000 toys, including popular Fischer Price and Barbie brands.
Finally, in the tech sector, Apple (Nasdaq: AAPL - News) once again grabbed investors' and consumers' attention with a big slate of product announcements, including a revamp of its popular iPod line. Most notably, the company unveiled the iPod Touch, a device with the same look and many of the same features as the iPhone, but lacking only phone capabilities. Apple also dropped the price on its 8GB iPhone to $399 and said it is phasing out the 4GB model completely. Investors "sold the news," sending the stock -5.1% lower.
By The BullMarket.com Staff

Labels: AAPL, BJ, COST, KFT, MAT, TSN

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
Gaps Down 5% or More: These are stocks that gap down by 5% or more and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that gap down by more than 5% have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.

Tesco Corporation (NasdaqGS:TESO - News). TESO's PowerRating is 5.
Laps Down 5% or More: These are stocks that lap down by 5% or more and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that lap down by more than 5% have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Leap Wireless (NasdaqGS:LEAP - News). LEAP's PowerRating is 7.
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge. Historically, these stocks have provided traders with a significant edge.
Transocean (NYSE:RIG - News). RIG's PowerRating is 7.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Tyson Foods (NYSE:TSN - News). TSN's PowerRating is 7.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Diamond Offshore (NYSE:DO - News). DO's PowerRating is 7.
Bearish
5+ Consecutive Up Days: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
AmeriGroup (NYSE:AGP - News). AGP's PowerRating is 2.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Cardinal Health (NYSE:CAH - News). CAH's PowerRating is 4.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: AGP, CAH, DO, Hot Stocks, LEAP, RIG, TESO, TSN

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
Our research shows that stocks exhibiting this price behavior, while trading above their 200-day moving average, have on average, shown positive returns 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge. To learn more about our research into stocks exhibiting this type of behavior, go to TradingMarkets.com.
Gaps Down 5% or More: Dril-Quip (NYSE:DRQ - News). DRQ's PowerRating is 6.
Laps Down 5% or More: Apex Silver Mines (AMEX:SIL - News). SIL's PowerRating is 7.
5+ Consecutive Down Days: Linn Energy (NasdaqGM:LINE - News). LINE's PowerRating is 8.
5+ Consecutive Lower Lows: Tyson Foods (NYSE:TSN - News). TSN's PowerRating is 7.
2-Period RSI Below 2: Terra Nitrogen (NYSE:TNH - News). TNH's PowerRating is 9.
Bearish
Our research shows that stocks exhibiting this price behavior, while trading below their 200-day moving average, have on average, shown negative returns 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
5+ Consecutive Up Days: Nordstrom (NYSE:JWN - News). JWN's PowerRating is 3.
Stocks Up 10% or More: DivX (NasdaqGM:DIVX - News). DIVX's PowerRating is 3.

Labels: DIVX, DRQ, Hot Stocks, JWN, LINE, SIL, TNH, TSN

Here are 7 stocks for traders for Friday from TradingMarkets.com:
Nike (NYSE:NKE - News) beat earnings Thursday afternoon with $1.37 EPS over a consensus of $1.33 EPS. NKE's PowerRating is 5.
Palm (NasdaqGS:PALM - News) beat earnings on Thursday after the close, announcing $0.16 EPS over an expected $0.12 EPS. PALM's PowerRating is 5.
KB Home (NYSE:KBH - News) beat earnings estimates Thursday morning, but also said that Q1 profit fell 84%. KBH's PowerRating is 3.
Activision (NasdaqGS:ATVI - News) announced a multi-year deal to develop and distribute videogames based on Live Nation's products. ATVI's PowerRating is 4.
Motorola (NYSE:MOT - News) cut its quarterly forecast from $10.46 billion to $9.2 billion, prompting major selling. Watch for more action into the week's end. MOT's PowerRating is 4.
Tyson Foods (NYSE:TSN - News) announced plans to sell two poultry plants in Alabama; around 400 people will lose their jobs in the acquisition. TSN's PowerRating is 5.
JP Morgan raised its target for Intermune (NasdaqGM:ITMN - News) from $29 to $34 because investors are undervaluing some of the company's key products. ITMN's PowerRating is 1.
PowerRatings are courtesy of TradingMarkets.com

Labels: ATVI, Hot Stocks, ITMN, KBH, MOT, NKE, PALM, TSN

OccuLogix Inc. (NasdaqGM:OCCX - News) shares gained after the Toronto-based developer of ophthalmic devices said it has obtained investigational device exemption clearance from the Food and Drug Administration to begin its Phase III study of the Rheo procedure to treat the dry form of age-related macular degeneration. If successful, the company expects the study to support its application to the FDA for approval to market the Rheo system in the U.S.
Par Pharmaceutical (NYSE:PRX - News) shares advanced after the Woodcliff Lake, N.J.-based company said it has received final approval from the Food and Drug Administration of its abbreviated new drug application for propranolol hydrochloride extended release capsules. Propranolol HCI, the generic equivalent of Wyeth's (NYSE:WYE - News) Inderal-LA, is used to treat hypertension, angina pectoris due to coronary atherosclerosis, migraine and hypertrophic subaortic stenosis. Annual U.S. sales of Inderal-LA are roughly $215 million, Par said.
Premier Community Bankshares' (NasdaqCM:PREM - News) shares soared after the Winchester, Va.-based bank said it has agreed to be acquired by United Bankshares Inc. (NasdaqGS:UBSI - News). Premier shareholders will be able to elect to receive either United Bakshares stock, cash, or a combination. The stock consideration will be at a fixed exchange ratio of 0.93 shares of United common stock for each share of Premier common stock, and the cash consideration will be $34 a share. Premier had $900.7 million in assets at Dec.31, 2006, and 26 offices through three banking subsidiaries.
Quest Diagnostics (NYSE:DGX - News) was upgraded to overweight from neutral at J.P. Morgan. The firm said it expects the company to become more active in the acquisitions market. "Based on our conversations with Quest's management, we now believe the company will become more aggressive to act upon its long-stated goal of expanding overseas," the broker said. "In addition, we believe current guidance for the impact of the recent contract losses is too conservative, and that results over the next few quarters will prove to be better than current expectations," it added.
Silicom Ltd. (NasdaqCM:SILC - News) shares surged after the Israel-based supplier of networking products reported fourth-quarter net earnings of $1.07 million, or 20 cents a share, up from $473,000, or 11 cents a share, in the year-ago period. Revenue rose to $5.02 million from $3.13 million.
Sturm, Ruger & Co. (NYSE:RGR - News) shares gained after the Southport, Conn.-based maker of firearms and steel investment castings said it has authorized a repurchase program of up to $20 million of its common stock.
Synagro Technologies (NasdaqGM:SYGR - News) agreed to be acquired by The Carlyle Group for $462 million. The total enterprise value of the deal is $772 million, reflecting the assumption of $310 million in debt. The deal values Synagro shares at $5.76 each, a nearly 29% premium to Friday's closing price of $4.48. Synagro, a Houston-based provider of biosolid recycling services, and Carlyle expect the transaction to close in the second quarter. Synagro added that it plans to continue paying dividends on its common stock through the closing of the deal.
Tesoro Corp. (NYSE:TSO - News) said fourth-quarter earnings rose to $158 million, or $2.28 a share, from $69 million, or 97 cents a share, a year earlier. Analysts surveyed by Thomson Financial had been expecting earnings of $1.91 a share, on average. Revenue for the quarter ending December fell to $4.02 billion from last year's $4.36 billion. The company also agreed to acquire certain California assets of Shell Oil Products, including a Los Angeles refinery and 250 branded retail sites, for $1.63 billion.
Trex Co. (NYSE:TWP - News) said it will restate its results for 2003 through 2005 and the first nine months of 2006 to correct errors related to the recording of certain expenses. The maker of composite decking and railing expects the cumulative effect of the restatements to increase reported net income for 2003 through 2005 by roughly $200,000, and to increase reported net income for the first nine months of 2006 by roughly $200,000, or 2 cents a share.
Tyson Foods' (NYSE:TSN - News) first-quarter earnings rose 46%, boosted by higher profits in its chicken, pork and prepared foods units, and cost-cutting efforts that lowered expenses. The Springdale, Ark., meat processor reported first-quarter earnings of $57 million, or 16 cents a share, up from $39 million, or 11 cents a share, a year earlier. Tyson said sales for the quarter ended Dec. 30 rose 1.6% to $6.56 billion from $6.45 billion a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 6 cents a share on revenue of $6.38 billion. In addition, Tyson affirmed its earlier earnings outlook for its 2007 fiscal year, saying it expects earnings of 50 cents to 80 cents a share. The company also said it expects its second quarter to be profitable.
U.S. Airways Group (NYSE:LCC - News) is prepared to add a $1 billion cash sweetener to its offer to acquire Delta Air Lines (Other OTC:DALRQ.PK - News), according to a Wall Street Journal report. The newspaper, citing people familiar with the matter, said Tempe, Ariz.-based U.S. Airways could lift its hostile takeover offer to $10.8 billion in cash and stock if Delta's official creditors committee demands that the bankrupt carrier allow due diligence by its suitor. The creditors would also have to request that the bankruptcy court overseeing Delta's Chapter 11 bankruptcy proceedings postpone a February hearing on the Atlanta-based airline's restructuring proposal, and they'd have to agree to support the start of a formal antitrust review of the proposed merger as well.
Van der Moolen (NYSE:VDM - News) appointed Michiel Wolfswinkel as chief financial officer, effective March 1. Wolfswinkel will succeed interim-CFO Jan Van de Walter. Van der Moolen recently announced it was cutting 30% of the staff at its NYSE specialist unit as the exchange completed the transition to its hybrid trading system.

Published By MarketWatch

Labels: DGX, LCC, OCCX, PREM, PRX, RGR, SILC, SYGR, TSN, TSO, TWP, UBSI, VDM, WYE

Here are 7 stocks for traders for Monday from TradingMarkets.com:
Cummins (NYSE:CMI - News) announces earnings on Monday morning before the open; watch for $3.83 EPS. CMI's PowerRating is 5.
Gentex (NasdaqGS:GNTX - News) reports quarterly earnings Monday morning, with analysts looking for $0.18 EPS. GNTX's PowerRating is 5.
When Mattel (NYSE:MAT - News) announces earnings on Monday before the bell, look for $0.66 EPS. MAT's PowerRating is 5.
Analysts are watching for Tesoro Petroleum (NYSE:TSO - News) to report $1.79 EPS on Monday morning. TSO's PowerRating is 5.
Tyson Foods (NYSE:TSN - News) should report $0.06 EPS on Monday morning before the market opens. TSN's PowerRating is 5.
Before trading starts on Monday morning, watch for USG Corp. (NYSE:USG - News) to report $1.31 EPS. USG's PowerRating is 4.
Verizon (NYSE:VZ - News) looks set to report $0.61 EPS on Monday morning. VZ's PowerRating is 5.
PowerRatings are courtesy of PowerRatings.net

Labels: CMI, GNTX, Hot Stocks, MAT, TSN, TSO, USG, VZ

Alpharma Inc. (NYSE:ALO - News) shares slumped after the specialty pharmaceuticals maker said it expects to report 2007 earnings below the average forecast on Wall Street.
Anadarko Petroleum (NYSE:APC - News) was downgraded to neutral from buy at Goldman Sachs.
Biomira Inc. (NASDAQ:BIOM - News) shares fell after the Edmonton, Alberta-based biotech company said it plans to raise $13 million by offering up to 9.63 million units for $1.35 each. Units will consist of one common share and 0.2 of a warrant. Each warrant will entitle the holder to buy one common share at an exercise price of $1.86. The warrants will have a 48-month term and a no-exercise period of six months. The offering is expected to close in the next few days.
Celgene (NASDAQ:CELG - News) shares declined after the company said Barr Pharmaceuticals (NYSE:BRL - News) has filed an Abbreviated New Drug Application with the Food and Drug Administration to market a generic version of thalidomide. Celgene said Barr is seeking approval for the treatment of moderate to severe erythema nodosum leprosum, an immunologic skin ailment. Celgene markets thalidomide under the brand name Thalomid for treatment multiple myeloma, as well as for erythema nodosum leprosum. Celgene said it plans to file a complaint against Barr, alleging infringement of Celgene patents.
CHC Helicopter Corp. (NYSE:FLI - News) reported second-quarter net earnings of C$8.9 million ($7.2 million), or 20 Canadian cents a share, compared with C$39.2 million, or 85 Canadian cents a share, in the same period last year.
CKE Restaurants Inc. (NYSE:CKR - News) said third-quarter net income fell, as income tax expense rose, to $9.46 million, or 13 cents a share, from $15.8 million, or 23 cents a share, during the same period in the prior year. The company also said its blended same-store sales for November rose 2.9%. The company's Carl's Jr. restaurants posted an increase of 0.5% in comparable sales for the four weeks ended Dec. 4, while its Hardee's restaurants saw a jump of 5.2% in same-store sales for the period. Carpinteria, Calif.-based CKE said total consolidated revenue from company-owned stores for the period reached $95.9 million.
Shares of Cooper Cos. (NYSE:COO - News) slumped after the company reported fiscal fourth-quarter results that came in below its own expectations, which the health-care products maker attributed to order processing and shipping delays, and a lackluster response to its new spherical contact lens products.
Shares of CSX Corp. (NYSE:CSX - News) fell after Bear Stearns downgraded the railroad company to peer perform from outperform, due primarily to concerns over valuation. Analyst Edward Wolfe also said CSX was the most-likely of the large-capitalization companies he covers to miss fourth-quarter earnings expectations due to a drag from fuel hedges, a drop off in volume that was worse than expected and than its peers and management's commitment to stay with its operating plan regardless of near-term cost overrides.
EntreMed Inc. (NASDAQ:ENMD - News) shares fell after the company announced that it plans to sell up to 10.7 million shares of its common stock in a transaction valued at about $17.2 million.
Shares of Monster Worldwide Inc. (NASDAQ:MNST - News) slid after the company said a panel investigating its stock option grant practices found evidence that someone intentionally lowered exercise prices so they would have a higher value. The company said it's restating results to record a total charge of $339.6 million to properly account for options granted between 1997 and March 31, 2003.
The disclosure tamped down the positive effects of a note Wednesday by Piper Jaffray & Co. analyst Brett Manderfeld, who wrote that the operator of the Monster.com jobs board was on track for a fourth-quarter that was in-line with expectations of about 60% sales growth.
Share of OptionsXpress (NASDAQ:OXPS - News) fell after the company reported that while its trading volume improved, its account growth slowed. Also, Raymond James analysts downgraded the shares to outperform from strong buy Wednesday, noting account growth, "was well below expectations."
Peerless Systems Corp. (NASDAQ:PRLS - News) said it swung to a third-quarter net loss, as revenue fell, of $18,000, or breakeven on a per-share basis. During the same period in the prior year, net income was $1.05 million, or 6 cents a share.
Shares of Pozen Inc. (NASDAQ:POZN - News) tumbled on news that regulators want additional data for its proposed migraine medication Trexima before they will consider approving the drug.
Qantas Airways has agreed to an A$11 billion takeover offer from a consortium led by Australia's Macquarie Bank and Texas Pacific Group of the U.S. after the group sweetened its bid by 10 cents a share to overcome the Qantas board's reticence, according to a media report.
SAIC Inc. (NYSE:SAI - News) said third-quarter net income rose, as revenue gained, to $98 million, or 28 cents a share, from $91 million, or 25 cents a share, during the same period in the prior year.
Stanley Furniture Co. (NASDAQ:STLY - News) said it plans to cut 200 of the 450 employees at its Robbinsville, N.C. plant. The cuts include management and hourly employees, according to the wood furniture manufacturer.
Tyson Foods (NYSE:TSN - News) was downgraded to underweight from neutral at J.P. Morgan, citing valuation concerns.
Wet Seal Inc. (NASDAQ:WTSLA - News) said certain shareholders will sell 16 million shares of its Class A common stock in a secondary offering. The shares are being sold by affiliates of Prentice Capital Management LP, S.A.C. Capital Associates LLC and GMM Capital LLC. In addition, the underwriters have been granted an over-allotment option to buy up to 2.4 million additional shares. Foothill Ranch, Calif.-based Wet Seal, an apparel retailer, will not receive any proceeds from the offering, other than those received as a result of the exercise of warrants for shares to be sold in the offering.
-MarketWatch

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In corporate news, two companies from the financial services sector topped headlines. Goldman Sachs (NYSE: GS - News) led off by reporting another blowout quarter. Goldman recorded a 93% increase in earnings for FQ4, making it the most profitable quarter in Wall Street's history. Investors seemed unsure how to react, as the stock moved from negative to positive territory and back again before closing lower. Citigroup (NYSE: C - News), meanwhile, provided the other headline, but it clearly disappointed investors. The bank announced management changes, naming Robert Druskin, currently head of the investment banking unit, as the company's new chief operating officer. Investors, however, were looking for something a little more drastic from the company. Citigroup opened lower and never recovered. Subscribers can read our analysis of quarterly results from Goldman Sachs and a report on Citigroup's news in today's issue.
Electronics retailer Best Buy (NYSE: BBY - News) also left investors disappointed as the company's FQ3 results came in below expectations. In the quarter ended November 25th, Best Buy earned $150 million, or 31 cents a share, in Q3, up 9% from $138 million, or 30 cents per share, a year earlier. Analysts were looking for 35 cents per share in profits. Price cutting in a competitive marketplace for flat-screen TVs and other high-end electronics hurt the company's margins. Best Buy's shares dropped -5%, as did its smaller competitor Circuit City (NYSE: CC - News) on fears it, too, would report slimmer-than-expected profits. LCD glass maker Corning (NYSE: GLW - News) slipped -3% on Best Buy's comments on the TV market.
The Nasdaq Stock Market (Nasdaq: NDAQ - News) formally launched its hostile bid for the London Stock Exchange today. Nasdaq is offering $5.3 billion for the top London equity market, and slashed the level of shareholder support it needs to go ahead with the deal to 50% plus one share. The LSE has refused to negotiate, saying the offer "substantially" undervalues the exchange. Nasdaq won't increase its offer unless another bidder enters the contest or the LSE's managers come to the table and convince the U.S. firm a deal is worth more. Nasdaq ended down -2%.
In other M&A news, Sabre Holdings (NYSE: TSG - News) climbed 5% after agreeing to be acquired by private equity firms Silver Lake Partners and Texas Pacific Group for approximately $5 billion.
Chipmaker Texas Instruments (NYSE: TXN - News) advanced after J.P. Morgan upgraded the stock to "overweight" from "neutral." Aluminum giant Alcoa (NYSE: AA - News) declined after being cut to "underperform" by RBC Capital Markets. Meat processor Tyson Foods (NYSE: TSN - News) added 4%. The stock was upgraded to a "buy" from "neutral" by D.A. Davidson, a Montana-based financial advisory firm, which also increased its target to $22 from $17.
-BullMarket.com

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