Join        Login             Stock Quote

U.S. Stocks End Mixed As Europe Polls Weigh; Hot Stocks: VRTX, CTSH, AIG, TSN, TLB, GGC, FTR

 May 07, 2012 04:32 PM

(By Balachander) U.S. stocks closed on a slightly mixed note after elections in Greece and France heightened uncertainty over Europe's debt crisis.

S&P 500 Index edged 0.04 percent higher to finish at 1,369.58. The Dow Jones Industrial Average lost 0.23 percent to end at 13,008.53. The Nasdaq Composite Index added 0.05 percent to close at 2,957.76.

In France, Socialist Francois Hollande unseated conservative incumbent Nicolas Sarkozy. In Greece, elections resulted in a hung parliament, with no single party able to get clear majority. Greek voters punished two mainstream parties - New Democracy and the Socialist rival PASOK - that supported the austerity measures and the bailout deals.

Hot Stocks Of The Day: VRTX, CTSH, AIG, TSN, TLB, GGC, FTR

[Related -Cognizant Technology Solutions Corp (CTSH): How Penetration Rates Are Faring?]

In corporate news, Vertex Pharmaceuticals (NASDAQ: VRTX) soared 55.2 percent after a mid-stage study showed that the company's cystic-fibrosis treatment Kalydeco in combination with its experimental treatment for the disease improved some patients' ability to breathe.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) plunged 19.16 percent after the IT services company slashed its full-year earnings outlook and guided second quarter below consensus, citing slower than expected acceleration in demand. The Teaneck, New Jersey-based company now expects non-GAAP earnings per share (EPS) of $3.62 from prior expectations of $3.69. Revenue is now projected to be at least $7.34 billion from at least $7.53 billion projected earlier. For the second quarter, CTSH forecasts non-GAAP EPS of 87 cents on revenue of at least $1.79 billion. Analysts' expect EPS of 83 cents on revenue of $1.84 billion.

[Related -American International Group Inc (AIG): Current Weakness Offers A Buying Opportunity]

American International Group Inc. (NYSE:AIG) fell 3.11 percent after the insurer said the U.S. Department of the Treasury has priced an offering of 163.93 million shares of AIG stock at $30.50 per share. The transaction lowers the Treasury's stake in AIG to 63 percent from 70 percent.

Talbots Inc. (NYSE:TLB) lost 6.1 percent. The retailer of women's apparel received a $3.05 per share proposal from Sycamore Partners Management LLC. The latest offer is up from $3.00 made by the private-equity firm last year.

Next Page >>12


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageTackling China's Debt Problem: Can Debt-Equity Conversions Help?

China’s high and rising corporate debt problem and how best to address it has received much attention read on...

article imageWill Job Growth Kill The Bear-Market Signal For Stocks?

It’s all about jobs now. Actually, it’s always been about jobs. But the stakes are even higher—perhaps more read on...

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.