Netflix ($72.85, -$1.62, -2.18%) said it agreed to raise about $400 million in cash from selling stock and bonds that can be converted into stock, a move seen by analysts as a sign that efforts to acquire video content are proving expensive.
Hewlett-Packard's ($25.77, -$1.09, -4.06%) fiscal fourth-quarter earnings dropped 91% on write-downs and continued weakness in its personal-computer business, though the company's corporate-services segment helped drive a better-than-expected core profit.
Medtronic's ($34.39, +$1.12, +3.37%) fiscal second-quarter earnings rose 54% as the medical-device maker reported growth across most of its businesses, though defibrillator and spinal-products sales remained weak.
Oil-tanker giant Frontline Ltd. (FRO, $3.15, -$2.04, -39.31%) (FRO.LN) Friday said it swung to a $35.24 million net loss in the second quarter, from a year-earlier profit of $81.31 million, due to weak demand for tankers that has continued into the third quarter. The Norwegian shipping company also said Tuesday there are "significant uncertainties" regarding its ability to comply with certain financial covenants at the end of the fourth quarter, adding it will likely need additional funding in the first part of 2012 to meet its cash obligations.
Dollar Tree Inc. (DLTR, $77.62, +$1.93, +2.55%) agreed to repurchase $300 million of its stock from Wells Fargo Bank in order to accelerate its $1.5 billion buyback program announced last month.
Other Stocks In Focus november 22 2011 :
Longbow Research lowered its stock-investment rating on A. Schulman Inc. (SHLM, $20.23, -$0.70, -3.34%) and PolyOne Corp. (POL, $10.42, -$0.29, -2.66%) to neutral from buy, as plastic distributors have been significantly impacted by inventory destocking, particularly in Europe. Declines in resin prices have triggered inventory correction in the channel, the firm said, while increased price competition and softer demand in October and November forced distributors to adjust prices more rapidly despite higher-priced inventories. Furthermore, macroeconomic uncertainties and the seasonally softer December lie ahead.
Analog Devices Inc.'s (ADI, $33.53, -$0.81, -2.36%) fiscal fourth-quarter profit fell 18% as the chip maker posted lower sales in its industrial, communications and consumer sectors.
Brocade Communications Systems Inc. (BRCD, $4.85, +$0.37, +8.26%) swung to a fiscal fourth-quarter loss on a much bigger tax provision, though adjusted results easily topped the company's August forecast.
Campbell Soup Co.'s (CPB, $32.34, -$1.28, -3.79%) fiscal first-quarter earnings fell 4% as lower soup sales contributed to lower-than-expected revenue.
Cheniere Energy LP (CQP, $16.38, +$0.50, +3.15%) said Monday it signed a long-term contract to sell liquid natural gas to power-generation giant Gas Natural Fenosa in a deal that Cheniere said furthers its plans to build the first LNG export terminal in the U.S. Shares of Cheniere Energy Partners's parent, Cheniere Energy Inc. (LNG, $12.40, +$0.92, +8.01%), also gained.
Chico's FAS Inc.'s (CHS, $10.31, -$1.30, -11.20%) fiscal third-quarter earnings declined 8.2% despite improved sales as the women's apparel retailer company saw expenses rise and margins take a hit from increased discounting of its namesake brand.
Collective Brands Inc. (PSS, $12.34, -$1.36, -9.93%) swung to a fiscal third-quarter loss as the owner of Payless and Stride Rite shoe stores incurred steep costs from its store restructuring program.
Delcath Systems Inc. (DCTH, $2.47, +$0.07, +2.92%) said it entered an agreement with the European Institute of Oncology for the initial launch and training in the use of its chemosaturation therapy, marking the specialty pharmaceutical and medical device developer's first steps towards the commercialization of its Chemosat delivery system in the European Union.
DSW Inc. (DSW, $45.52, +$0.67, +1.48%) swung to a fiscal third-quarter profit as the shoe retailer's same-store sales growth helped improve margins. The company also raised its full-year earnings estimate.
Dycom Industries Inc.'s (DY, $19.50, +$0.23, +1.19%) fiscal first-quarter earnings rose 92% as the telecommunications contractor continued to see its revenue grow. The results beat analyst expectations.
Focus Media Holding Ltd. (FMCN, $16.21, +$0.78, +5.06%) denied accusations by short seller Muddy Waters LLC that it fraudulently overstated the number of screens in its LCD network and overpaid for acquisitions, saying they were "inconsistent with the facts." Muddy Waters alleged in its research on Monday that Focus Media has written down $1.1 billion out of $1.6 billion in acquisitions since 2005. Separately, Focus Media reiterated its plans Tuesday to buy back its shares and said its top executive will purchase shares in a block trade.
Fred's Inc.'s (FRED, $12.56, +$0.32, +2.61%) fiscal third-quarter earnings rose 16% as the discount retailer reported strong customer traffic and improved margins.
Fusion-io Inc. (FIO, $32.63, -$3.58, -9.90%) said it will offer about 8.8 million shares of common stock at $33 a share, a 8.9% discount to Monday's close.
Gardner Denver Inc. (GDI, $75.64, +$0.87, +1.16%) increased the size of its stock buyback plan by 1.3 million shares, or about $100 million, the latest in a string of companies to introduce shareholder-friendly moves.
Genesco Inc.'s (GCO, $58.18, +$2.09, +3.73%) fiscal third-quarter earnings rose 54% as the seller of hats and footwear posted better-than expected revenue on strong same-store sales growth. The company also raised its full-year earnings estimate.
While investors frowned Monday on the steep price tag Gilead Sciences Inc. (GILD, $38.05, +$1.79, +4.94%) agreed to pay for Pharmasset Inc. (VRUS, $133.96, -$0.18, -0.13%), Citi calls the $11 billion move "a solid strategic direction for the future and propels Gilead to potentially dominate" the Hepatitis C market. "We believe that this makes a lot of sense and will provide Gilead with a highly synergistic asset with a very long tail. This appears a perfect fit for their global anti-viral commercial capabilities." Citi upgraded the company to buy and boosted its price target.
JA Solar Holdings Co. (JASO, $1.48, -$0.04, -2.63%) swung to a third-quarter loss as the solar-products company reported slumping sales and an inventory provision turned margins negative. The company also lowered its 2011 shipment outlook.
JinkoSolar Holding Co.'s (JKS, $5.08, -$0.62, -10.88%) third-quarter earnings fell 74% as the Chinese solar-product maker saw higher prices weigh on its margins, though revenue rose. The company gave a downbeat sales outlook for the fourth quarter.
LDK Solar Co. (LDK, $2.76, -$0.07, -2.47%) swung to the red in its fiscal third quarter as the company wrote down inventory and margins dove into negative territory amid an industrywide decline in solar product prices.
SunTrust Robinson Humphrey lowered its stock-investment rating on NCI Inc. (NCIT, $11.02, -$0.51, -4.42%) to neutral from buy, citing an increasingly challenging government spending environment. "New program starts appear unlikely to increase soon given cautious government customers operating under a continuing resolution," the firm said.
Needham Research raised its stock-investment rating on Nvidia Corp. (NVDA, $14.99, +$0.36, +2.46%) to buy from underperform saying recent checks have shown Tegra 3 is gaining material traction in next-generation phones for 2012. As a result of increased traction on Tegra 3, Needham increased its Tegra forecast by $80 million for fiscal year 2013.
Patterson Cos.'s (PDCO, $28.60, -$0.72, -2.46%) fiscal second-quarter earnings fell 8.3% as lower dental-supply sales continue to slow its revenue growth. The company also lowered the high end of its full-year earnings estimate.
Perfect World Co.'s (PWRD, $10.05, -$1.33, -11.69%) third-quarter earnings fell 33% as the company booked higher expenses, pressuring margins. American depositary shares dropped as earnings missed analyst expectations and as the company issued a downbeat sales outlook.
School Specialty Inc. (SCHS, $6.11, -$0.91, -12.96%) cut its 2012 revenue and loss-per-share forecast due to weaker than anticipated educational industry sales trends.
Signet Jewelers Ltd.'s (SIG, $45.00, +$1.46, +3.36%) fiscal third-quarter earnings surged as the jewelry seller booked a double-digit jump in same-store sales and expanded margins. The results easily topped analyst expectations.
Trina Solar Ltd. (TSL, $6.07, -$0.16, -2.57%) swung to a third-quarter loss as an inventory write-down weighed on the Chinese solar-products maker's margins and revenue also fell.
Valspar Corp. (VAL, $36.41, +$2.69, +7.98%) swung to a loss in its fiscal fourth quarter as the company took a steep impairment charge, although strong sales helped the paint and coatings maker book core results ahead of expectations.
Yum Brands Inc. (YUM, $54.41, +$0.92, +1.72%) named Micky Pant chief executive of its international division and separated its India business into its own standalone segment.
Zale Corp.'s (ZLC, $3.76, +$0.20, +5.62%) fiscal first-quarter loss narrowed on stronger margins, improving from a year-earlier result that was laden with debt-related charges. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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