U.S. stocks traded higher Tuesday as the Dow Jones Industrial Average gained 20 points to 10,564, the S & P 500 climbed 2.4 points to 1124 and the Nasdaq Composite Increased 10 points to 2296. Among the companies Whose Shares Are Actively trading in the session are Best Buy Co.. (BBY), J.C. Penney Co.. (JCP) and Kroger Co.. (KR).
Best Buy’s ($ 37.02, + $ 2.37, +6.84%) fiscal second-quarter earnings Jumped 61%, wallop analysts’ Estimates, as the company rebounded from a weakened year-earlier quarter on higher revenue and margins. The Company Also Raised ITS earnings target for the year, reflecting share buybacks the company repeatedly made the first half, “including $ 600 million in the latest quarter.
J.C. Penney ($ 23.90, + $ 1.57, +7.04%) Chief Executive Mike Ullman told attendees at a Goldman Sachs conference the retailers expect to see better same-store sales in the fourth quarter Than it did a year ago, When Were negative comps.
Kroger ($ 21.68, + $ 0.64, +3.04%), the biggest traditional supermarket operator in the U.S., Reported fiscal second-quarter profit ITS surprisingly rose 2.8% on better-than-Expected revenue while margins shrank.
Nucor Corp.. (NUE, $ 39.44 – $ 1.22, -3.00%) third-quarter Announced downbeat earnings guidance as demand for the steel makers’ products consistently Slowed the summer and it now anticipates posting bigger-than-Expected inventory charges.
Zumiez Inc.. (ZUMZ, $ 20.44, + $ 3.03, +17.40%) Lifted ITS per share earnings and same-store sales targets for the fiscal third quarter, a move the teen-focused retailer attributed to better-than-Planned sales and margins.
H.B. Fuller Co.. ‘S (FUL, $ 19.24 – $ 1.76, -8.38%) fiscal third-quarter profit dropped 46% on lower margins following a prior-year gain from a legal settlement, although revenue rose on higher volumes and Prices. The chemical-products company’s results Fell short of Wall Street’s expectations and it cut fiscal-year revenue forecast ITS.
Other Stocks in Focus:
Arena Pharmaceuticals Inc.. (Arna, $ 4.33 – $ 2.52, -36.79%) shares declined / briefing after the release of documents related to Thursday’s FDA panel review of the drug company’s obesity treatment lorcaserin. Not surprisingly, the agency’s Inquiries For The outside experts are focused on safety of the drug When overused for long periods. Notably, the FDA notes Also That the drug’s effectiveness with the weight-loss agency guideline, but only Barely.
Miner Cliffs Natural Resources Inc.. (CLF, $ 64.47 – $ 3.08, -4.56%) said it now expect full-year 2010 North American coal sales volumes or 3.9 million tons and Reduced ITS 2010 sales volume Expectation from ITS legacy coal operations in West Virginia and Alabama to 2.8 million tons Expectation from a previous or 3.4 million. Also Cliffs said it now expect North American Coal revenue per ton to be $ 115 to $ 120, a Decrease from the prior guidance of $ 140 to $ 145 per tonne.
Cracker Barrel Old Country Store Inc.. ‘S (CBRL, $ 50.36, + $ 1.77, +3.64%) fiscal fourth-quarter earnings rose 20% as the restaurant and gift shop operator benefited from lower food costs and Higher Prices. The results beat analysts’ expectations.
Globe Comm Systems Inc. (Gcom, $ 7.67 – $ 0.19, -2.36%), a satellite communications company, Reported a 43% gain in fiscal fourth-quarter revenue and a profit or quadruple. Excluding a gain but on tax adjustments, the income Would Have missed Wall Street’s expectations.
Soleil Securities Raised ITS stock-investment rating on diagnostic-technology maker Hologic Inc.. (HOLX, $ 16.12, + $ 0.51, +3.27%) to buy from hold, Saying it believes the company’s next-generation instrument, breast tomosynthesis Should Receive FDA approval.
Horace Mann Educators Corp.. ‘S (HMN, $ 17.57 – $ 0.21, -1.18%) board Placed Louis Lower, the longtime chief executive, on leave after directors learned he was in jail. The board suspended over the Lower weekend, at least three days after he began serving time in a Florida county jail. Given he was a 60-Day Sentence Sept. 8 after Being Charged on Memorial Day weekend with a count misdemeanors or Driving Under The Influence That caused property damage or personal injury, According To Records on the website of the Indian River County Sheriff’s Office.
Jefferies & Co.. stock-investment rating cut ITS on Impax Laboratories Inc.. (IPXL, $ 17.19 – $ 1.18, -6.42%) to hold from buy, Saying the drug company’s generic version of Shire PLC (SHPGY, $ 70.36, + $ 0.80, +1.15%) hyperactivity drug Adderall XR Continues to lose market share to Teva Pharmaceutical Industries Ltd.. ‘s (TEVA, $ 54.66, + $ 0.35, +0.64%) version of the drug.
Ironwood Pharmaceuticals Inc.. (IRWD, $ 10.00, + $ 0.26, +2.62%) and Forest Laboratories Inc.. (FRX, $ 30.80, + $ 0.94, +3.16%) Announced positive results from the first two or Phase III clinical trials Assessing a Treatment for Patients with irritable bowel syndrome and constipation. Ironwood Has A growing pipeline or in drug Candidates earlier stages of development.
The private equity arm of Morgan Stanley (MS, $ 27.54 – $ 0.23, -0.83%) Announced plans to sell 31% stake Nearly half ITS in DigitalGlobe Inc.. (DGI $ 31.05 – $ 1.19, -3.69%) shares of the axis of imaging services provider to the defense community Have Jumped one-third this year.
NuVasive Inc. (Nuva, $ 33.28, + $ 1.72, +5.45%) acknowledged Tuesday That the turbulent market for spinal devices HAS Slowed and Become Less Predictable, triggering a cut to next year’s forecast for sales growth and reductions to the top end of ITS 2010 guidance. The San Diego-based company’s shares still rose Tuesday, as the announcement seemed to relieve pressure amid questions about how NuVasive Can Maintain rapid growth despite deterioration in the Broader market.
Schiff Nutrition International Inc.. ‘S (WNI, $ 9.04, + $ 0.34, +3.91%) fiscal first-quarter profit Fell 16% on a 40% jump in sales and marketing costs due to a sharp boost in advertising activity. Still, results beat analysts’ expectations and the maker of vitamins, supplements and nutrition bars Announced a special cash dividend of 70 cents a share to the holders of Common Stock of ITS, stock options and restricted stock units Certain.
Jefferies & Co.. cut stock-investment rating on ITS Skilled Healthcare Group Inc.. (TH, $ 4.38 – $ 0.10, -2.23%) to hold from buy, as the firm Said while it’s encouraged That the legal overhang Has Been Removed from the nursing-home company’s shares, the analysts believe the “28% post-settlement gain Fairly valued leaves the stock. ”
Tower Group Inc.. (TWGP, $ 21.73 – $ 0.43, -1.94%) Announced plans to sell at least $ 135 million in four-year convertible senior notes as the property-and-casualty Insurer raises funds for $ 50 million of stock buybacks plus Debt Repayment.
Urstadt Biddle Properties Inc.. (UBA, $ 18.17 – $ 1.14, -5.90%) said it is offering 2.5 million shares of Class A Common Stock ITS in a public offering. The real estate investment trust, Which Currently about 28.8 million shares outstanding HAS, INTEND to use the process in part to reducing Amounts outstanding under Existing ITS credit lines.
J.P. Morgan Initiated Coverage of Varian Semiconductor Equipment Associates Inc.. (VSEA, $ 27.05, + $ 1.01, +3.88%) at overweight, Saying it views the company as a high quality, technology dominates SemiCap equipment company with a compelling technology offering for the solar industry That is likely to be adopted at a rapid rate over the next few years.
Volcano Corp.. ‘S (Volče, $ 23.90 – $ 1.75, -6.82%) shares declined / after the company said it is offering $ 100 million in new convertible notes. The market react negatively initially May, “given the incremental interest costs and dilutive impact of the sacrifice, as well as a now Increased Possibility of Further dilutive acquisitions,” Leerink Swann said. But the firm offering the Said Could Be A Sign That demand for the company’s medical device products Continues to be strong, driving the need for capacity expansion.
Wabash National Corp.. (Wnc, $ 7.16 – $ 0.23, -3.11%) Said fund a Subsidiary of Lincolnshire Management Inc.. plans to sell 9.3 million shares or holdings in the ITS designer or truck trailers.
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