US stocks slipped as higher oil prices weigh on the market. Down Jones Industrial Average is trading lower by 84.92 points, or 0.70 percent to 12,084.96, while Nasdaq is down49.29 points, or 1.77 percent to 2,735.38. S&P 500 is lower by 12.42 points, or 0.94 percent to 1,308.73 on Monday.
Ciena Corporation (Nasdaq: CIEN), a network specialist, reported its first quarter FY 2011 results today. CIEN reported revenues of $433.3 million for the quarter, representing a 4 percent increase sequentially, and a 147 percent increase, compared to revenues of $175.87 million in the same period last year. Ciena's net loss for the quarter was $79.1 million, or $0.84 per share, compared to net loss of $53.3 million, or $0.58 per share, for the first quarter of FY 2010. Ciena expects revenues in the range of $415 million to $435 million, for the second quarter of FY 2011. CIEN lost 2.08 percent to $28.21 in the morning session of trade on Monday.
DAQQ New Energy Corp. ADR (NYSE: DQ) reported its fourth quarter earnings results Monday. The company reported revenues of $91.9 million, an increase of 158.2 percent, compared to revenues of $31.71 million in fourth quarter of FY 2009. Net income for the quarter was $32.8 million, compared to net income of $10 million in the same period last year. Earnings for the quarter were $0.95 per share from $0.40 in the same period last year. DAQQ gained 5.75 percent to $12.88 a share.
James River Coal Co. (Nasdaq: JRCC) reported Sunday its fourth quarter FY 2010 results. Its net income for the quarter was $25.9 million, or $0.93 per share, compared with a net loss of $3.2 million, or $0.12 per share in the same period last year. For full year, its net income totaled $78.2 million or $2.82 per share, from $51 million, or $1.85 per share in the prior year. JRCC gained 12.84 percent to $22.85 on Monday.
Osiris Therapeutics Inc. (Nasdaq: OSIR), the leading stem cell company, reported its fourth quarter results Monday. The company's net income from continuing operations for the fourth quarter of 2010 was $4.4 million compared to a loss from continuing operations in the fourth quarter of 2009 of $0.3 million. Revenues for the quarter were $10.8 million, compared to $10.8 million in the same period last fiscal. OSIR is trading lower by 1.31 percent to$6.77 on Monday.
Nobility Homes Inc. (Nasdaq: NOBH) reported sales of $3.5 million for the fourth quarter FY 2010, compared to sales of $2.83 million in the same period last year. Loss from operations for the quarter was $195,341 versus loss of $527,557 in the same period last year. Net loss for the quarter was $123,212, or $0.03 per share, compared to a loss of $444,117, or $0.11 per share for the same period last fiscal. Currently its stocks are not trading on the Nasdaq stock exchange, as the company did not follow the rules of Nasdaq.