For news and details on stocks that will be trading significantly up or down on volume, visit Volume Spike Investor.
Today’s coverage includes Hercules OffShore (HERO), Conexant (CNXT), Vical (VICL), and Helicos BioSciences (HLCS).
Apple (AAPL) is also moving on an accounting change that could help its earnings.
Douglas A. McIntyre
CapitalSource (CSE) Ratings cut from Fitch. Drops to $2.02 from 52-week high of $17.04.
Stone Energy (SGY) Posts a loss for the last quarter. Sells down to $5.30 from 52-week high of $73.96.
Celera Corp (CRA) Outlook is below estimates. Plunges to $6.76 from 52-week high of $17.56.
Hercules Offshore (HERO) Still dropping after booking large impairment. Down to $1.95 from 52-week high of $39.47.
Douglas A. McIntyre
Standard & Poor’s Ratings Services downgraded several oilfield services and drilling companies. Among the companies the ratings agencies took action were Allis-Chalmers Energy Inc. (NYSE: ALY), Hercules Offshore Inc. (NASDAQ: HERO) and Parker Drilling Co. (NYSE: PKD). The problem is that it does not stop here. S&P said its review is not over and it expects more negative ratings actions over the coming days.
Coeur d’Alene Mines (CDE) Bad day for commodities stocks. Drifts down to $1.62 from 52-week high of $5.18
Newfield Exploration (NFX) Crude down $6. Bad day for oil exploration stocks. Falls to $39.98 from 52-week high of $69.77.
McDermott International (MDR) Oil and gas equipment supplier. Drops to $31.14 from 52-week high of $67.14.
UBS has raised its raw oil price targets for 2008 to 2010 and has lifted its coverage in the oil sector. UBS also initiated coverage on some of the oil and drilling companies this morning. Here are a few of the stocks they initiated coverage on:
As far as average oil price, UBS raised those as well:
Jon C. Ogg
May 15, 2008
(ACA) ACA Capital said subprime mortgage exposure does not threaten stability of its unit ratings.
(AHM) American Home Mortgage is closing most operations and laying off most of its 7,400 workers Fridaydown to about 750 workers.
(BBND) BigBand Networks traded down close to 20% after lowering estimates after earnings.
(BUCY) Bucyrus $0.80 EPS vs $0.76 est.
(CME) CME traded higher after Cramer said it was a cheap growth stock and one to play the volatility.
(FTEK) Fuel-Tech won pollution control orders for almost $3.7 million.
(GRMN) Garmin is buying a distributor in Italy.
(HERO) Hercules Offshore $0.74 EPS vs $0.70 est.
(ISLE) Isle of Capri $0.17 EPS vs $0.04 est; unsure if comparable.
(NTAP) lowered guidance; shares trading down close to 20%.
(PCS) MetroPCS $0.17 EPS vs $0.14 est.
(PG) P&G $0.67 EPS vs $0.66 est.
(QTWW) Quantun Fuel Systems said a subsidiary entered into agreement with Ford for producing the Ford F-150 special edition truck.
(THI) Tim Horton $0.36 EPS vs $0.36 est.
(TM) Toyota Motors posted record profits and strong hybrid sales; shares indicated up 1%.
(TOPT) Top Tankers $0.15 EPS bvs $0.04 est.
(TTWO) Take-Two lowered guidance after delaying ist Grand Theft Auto 4 video game.
Jon C. Ogg
August 3, 2007
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