Audible Inc. (ADBL: chart) surged 22% after the provider of digital audio content posted better-than-expected fourth-quarter results. The company reported a loss of $700,000, or 3 cents a share, on revenue of $23.3 million. During the year-earlier quarter, the company posted a loss of $2.2 million, or 9 cents a share, on revenue of $18.3 million.

Deckers Outdoor Corp. (DECK: chart), shoe company, said quarterly earnings nearly doubled helped by strong full price selling of its UGG Brand fall collection throughout the holiday season. UGG Brand net sales for the fourth quarter rose 40.1% to $109.9 million, the company said in a statement. For the latest quarter, the company reported earnings of $23.5 million, or $1.82 a share, compared with $12.1 million, or 94 cents a share, in the year-ago period. Net sales for the quarter rose 36.7% to $124.4 million. Gross margins rose 790 basis points to 48.5%.

Dycom Industries Inc. (DY: chart), engineering and construction services provider, said that its fiscal second-quarter net earnings increased to $5.59 million, or 14 cents per share, compared with $3.87 million, or 10 cents per share, in the year-ago period. Revenue climbed to $258.3 million versus $237.1 million in the same period a year earlier. Shares climbed 15.2%.

Hospira, Inc. (HSP: chart), injectable drug maker, reported a nearly 80% jump in fourth quarter profit on higher product volumes, higher prices and favorable currency exchange. The company earned $47.4 million, or 30 cents per share, compared with $26.6 million, or 16 cents per share last year. On an adjusted basis, Hospira would have earned 43 cents per share, versus 32 cents per share in the last three months of 2005. Revenue reached $706.5 million, a gain of 9.3%. Shares went up 7.2%.

Kenneth Cole Productions Inc. (KCP: chart) shares rose 12.5% after the footwear and clothing maker said its fourth-quarter profit rose 7%, ahead of analyst expectations. Kenneth Cole earned $8 million, or 39 cents per share, compared with $7.5 million, or 37 cents per share, for the same quarter in 2005. Revenue rose 2.2% to $122.4 million from $119.8 million in th

Leap Wireless International Inc. (LEAP: chart), wireless service provider, reported a fourth-quarter net loss of $39.4 million, or 60 cents per share compared with the same quarter last year when the company posted a net profit of $4.95 million, or 8 cents per share. Revenue climbed to $315.5 million versus $228.9 million in the same quarter a year earlier. Shares rose 9%.

New Plan Excel Realty Trust (NXL: chart) shares soared 14% to a new 52-week high after the shopping center developer agreed to be acquired for $3.4 billion in cash. New Plan said it is being purchased by affiliates of Australia-based Centro Properties Group for $33.15 per share.

Novatel Wireless Inc. (NVTL: chart), which provides wireless broadband access services to the mobile communications market, said its fourth-quarter profit rose sharply, as the company broadened its product offerings to meet customer demand. Quarterly earnings increased to $2.4 million or 8 cents per share versus $121,000 during the same period in 2005. Revenue grew 58% to $77 million from $48.7 million in the same period a year ago. Shares climbed 4.2%.

Sprint Nextel Corp. (S: chart), wireless carrier, said that its fourth-quarter profit increased 34% to $261 million, or 9 cents per share, with operating revenue up 7% to $10.44 billion. The company said 9% wireless revenue growth after adding 742,000 customers offset a 2% long-distance revenue decline. On an adjusted basis, its profit would''ve climbed 26% to 29 cents per share. Shares went up 6%.

Bitstream Inc. (BITS: chart), font and typeface software developer, said that its fourth-quarter net earnings declined to $630,000, or 6 cents per share, compared with $788,000, or 8 cents per share, in the year-ago period. Revenue climbed to $5.55 million against $4.62 million in the same period a year earlier. Shares fell 30.8%.

Blount International Inc. (BLT: chart), which makes outdoor products and industrial and power equipment, said that its fourth-quarter earnings declined to $9.04 million, or 19 cents per share, compared with $56.2 million, or $1.17 per share, in the year-ago period. The company said the results in the year-ago quarter were favorably impacted by a significant income tax benefit. Revenue decreased to $158.1 million versus $176.9 million in the same period a year earlier. Shares fell 8.1%.

Fremont General Corp. (FMT: chart) tumbled 13% after the subprime lender postponed the release of its fourth-quarter results and said that it would not file its annual report with the Securities and Exchange Commission by Thursday''s filing deadline.

Joy Global (JOYG: chart) slid 12% after the maker of mining equipment posted disappointing first-quarter results. The company earned $59.7 million, or 51 cents a share, on revenue of $560.5 million. During the year-earlier period, the company earned $59.7 million, or 48 cents a share, on revenue of $553.3 million.

Syniverse Holdings Inc. (SVR: chart) shares plunged to 20.7%, their lowest in a year on, after the company posted disappointing fourth-quarter results and 2007 outlook. Net income available to common shareholders totaled $59.1 million, or 88 cents per share, up from $15.3 million, or 23 cents per share, during the same period a year earlier. Cash net income, an adjusted earnings figure, was $13.8 million, or 20 cents per share, down from $17.1 million, or 25 cents per share, in the prior-year period. Revenue rose 3 % to $85.8 million from $83.6 million.

Whiting Petroleum Corp. (WLL: chart), oil and gas producer said its fourth-quarter profit fell 27%, hurt by higher costs and lower oil and gas prices. Quarterly earnings dropped to $28 million, or 76 cents per share, from $38.3 million, or $1.05 per share, in the prior-year period. Whiting Petroleum said the recent quarter includes gains from property sales worth 18 cents per share. Total revenue rose to $186.6 million from $186 million last year. Shares fell 12.2%.

1:00PM European markets closed notably down for a second day in a row.
European stocks closed lower for a second day in a row, due to a heavy sell-off sparked by worries that global markets will extend losses. Market sentiment failed to recover from Tuesday’s depression that settled across the region on U.S. recession fears and a slump in the Chinese stock market. Mining stocks were notable decliners. Rio Tinto lost 2.3%, BHP Billiton dropped 2.8% and Anglo American shares declined 3.6%. In corporate news, shares in U.K. banking group HBOS slipped 4.6% after it said its 2006 impairment losses on bad loans rose 8.9%. German reinsurer Munich Re dropped 3.4% after it reported a 52% drop in Q4 profit. Among other companies in focus, power group E.On declined 4% after Italy''s Enel said it may try to buy a quarter of Spanish utility Endesa. Meanwhile, the French EADS shares rose 1.8% after Airbus revealed plans to cut 10,000 jobs and sell up to six plants as part of an extensive restructuring. The U.K. FTSE 100 declined 1.8% at 6,171.50, the German DAX Xetra 30 dropped 1.5% at 6,715.44, and the French CAC-40 slipped 1.3% at 5,516.32.


11:30AM Wall Street rallied after Fed Reserve Chairman Bernanke’s comments.
U.S. stocks recovered Wednesday from the heavy drop in the previous trading session, helped by generally upbeat economic data and comforting comments from Fed Reserve Chairman Ben Bernanke who said that there was no single trigger to Tuesday''s market plunge and the economy may strengthen later this year. The Dow bounced 52 points, supported by 3.6% for Procter & Gamble (PG: chart), 2.2% for Walt Disney (DIS: chart) and 1.4% for Altria Group (MO: chart). Drug maker Merck (MRK: chart) also boosted the blue-chip average, rising 2.2% on lifted earnings outlook. Dow component Exxon Mobil (XOM: chart) contributed to the gains, rising 1.3%, despite a decline in the price of oil.

By sector, gold, oil, telecoms and real estate investment trusts were leading gainers. The telecommunications sector was boosted by Sprint Nextel (S: chart) which jumped 5.4% on better-than-expected earnings and revenue rise in Q4. Apple (APPL: chart) helped the tech sector up with a gain of over 1% on news that the company remains on track to release its iPhone mobile-phone product in June, with 10 million devices expected to be sold in 2008. Some computer hardware stocks posted strength, with Sun Microsystems (SUNW: chart) and Palm (PALM: chart) rising 3% each.

Meanwhile, housing stocks came under pressure after a report from the Commerce Department showed that new home sales slipped 16.6% in January, the steepest drop since 1994. The Dow was up 106.31 at 12,322.55. The Standard & Poor''s 500 index was up 14.20 to 1,413.24, and the Nasdaq composite index was up 17.73 percent at 2,425.59. Bonds fell as stocks tried to recoup some losses. The yield on the benchmark 10-year Treasury note rising to 4.57 percent from its low for the year of 4.47 percent late Tuesday.