5:00PM NY; 11:00PM Frankfurt; 3:30AM Mumbai - GLOBAL MARKETS
Yield on 10-year bond closed at 4.589% and the 30-year bond closed at 4.721%.
Gold declined $6.200 to close at $649.300 a troy ounce, silver decreased 15 cents to end at $12.970 a troy ounce and copper advanced $139.500 to close at $6276.500 per ton.
Oil declined $1.640 to close at $60.000 a barrel and heating oil lost 4.740 cents to finish at 171.390 cents a gallon. Natural gas decreased 16.9 cents to close at $7.070 per MMBtu. Gasoline went down 2.400 cents to end at 190.210 cents a gallon.
Asian markets closed mixed as Japanese shares advanced on upbeat economic data, while Hong Kong lost. The advancers were led by Philippines with an increase of 2.36%, Singapore with an advance of 0.68% and Japan with a gain of 0.43%. The decliners were led by India with a decrease of 1.26%, China with a loss of 0.27% and Hong Kong with a decline of 0.21%. Australia gained 0.18%.
European markets finished higher after fears about U.S. employment data proved largely unfounded, though a disappointing outlook from Airbus owner EADS and a negative broker note on the pharmaceutical sector contributed some selling pressure. The advancers were led by Spain with an increase of 0.45%, U.K. with a gain of 0.28% and Netherlands with an advance of 0.27%. The decliners were Norway with a decrease of 0.56%, Switzerland with a decline of 0.24% and Italy with a loss of 0.04%.
Latin America markets finished rising in tandem with U.S. stocks. The advancers were led by Brazil with an increase of 1.02%, Mexico with an advance of 0.97% and Argentina with a gain of 0.07%. There were no decliners. Canada ended flat.
2:30PM NY, U.S. Market Movers
AeroVironment Inc. (
AVAV: chart), maker of unmanned aircraft systems, said that its third-quarter net profit increased to $8.89 million, or 57 cents per share, compared with $4.39 million, or 29 cents per share, in the year-ago period. Revenue climbed to $46.3 million against $35.5 million in the same period a year earlier. Shares climbed 12%.
Air Methods (
AIRM: chart) results were above two analysts'' estimates by a penny, earning 10 cents per share in the fourth quarter. Shares went up 7.4%.
Blue Coat Systems Inc. (
BCSI: chart), Internet monitoring equipment maker, reported third-quarter net revenue of $47.1 million, compared with $35.5 million during the year-ago period. Net revenue in the quarter rose 32.6 percent to $47.1 million. Last month, the company had raised its forecast to $45.5 million to $47.5 million. Shares climbed 12%.
Big Lots Inc. (
BIG: chart), closeout retailer, said that its fourth-quarter net profit jumped to $104.3 million, or 94 cents per share, compared with $14.7 million, or 13 cents per share a year earlier due to an extra week in the quarter, higher same-store sales, an improved margin and a gain from discontinued operations. Net sales for the period increased 10.8% to $1.55 billion, with same-store sales rising 4.9%. Earnings included a $12.7 million profit from discontinued operations, compared to a loss of $23 million a year earlier. Earnings from continuing operations reached 83 cents a share from 33 cents a share. Shares climbed 18.5%.
Callon Petroleum Co. (
CPE: chart) said it agreed to buy an 80% working interest in the Entrada Field from oil company BP PLC for $150 million. Callon, which already owns the other 20% of the field, also agreed to pay another $40 million if the field reaches certain undisclosed production milestones. Callon plans to finance the purchase using a $200 million revolving credit line from Merrill Lynch Capital Corp. Shares climbed 6.2%.
Jones Soda Co. (
JSDA: chart), natural soda maker, said that its fourth-quarter net earnings increased to $2.06 million, or 8 cents per share, compared with $580,245, or 3 cents per share, in the year-ago period. Revenue climbed to $10.05 million against $8.75 million in the same period a year ago. Shares went up 21.7%.
La Jolla Pharmaceuticals (
LJPC: chart) shares soared 56.2% after it reported positive interim results from a late-phase study of a drug proposed to treat lupus, a chronic condition in which the immune system mistakenly attacks the body''s own tissues.
Middleby Corp. (
MIDD: chart) shares soared to 9.3% after the company reported its fourth-quarter net income increased 53%, beating analysts'' expectations. The company said it earned $11.1 million, or $1.34 per share, on $98.3 million in sales. Robert W. Baird analyst Peter Lisnic upgraded the stock to ""Outperform"" from ""Neutral,"" and raised his price target to $140 from $97. He praised the company''s market share and brand loyalty.
Winston Hotels Inc. (
WXH: chart) stock jumped 8.8% after the real estate investment trust said it received a $15-a-share buyout offer from Inland American Real Estate Trust.
Ashworth Inc. (
ASHW: chart), which designs golf sportswear, said its fiscal first-quarter loss widened on a drop in revenue. For the quarter Ashworth posted a loss of $2.5 million, or 17 cents per share, compared with $50,000, or no cents per share, for the same quarter in 2006. Revenue fell 5.8% to $38.3 million from $40.6 million in the year-ago period. Shares fell 4.6%.
Elong (
LONG: chart) posted a small loss for the period as revenue climbed 24% higher to $8.9 million. Analysts were expecting the company to earn $0.10 per ADS on $9.6 million in revenue. Even on a more favorable adjusted basis, eLong''s profitability was disappointing. Shares fell 21.1%.
Encysive Pharmaceuticals (
ENCY: chart), drug developer, said fourth-quarter losses widened to $25.8 million, 44 cents a share, compared with $19.4 million, or 33 cents per share, a year earlier, due primarily to costs related to the launch of Thelin tablets in Europe and maintaining its commercial infrastructure in the U.S. Revenue declined to $5.4 million versus $5.6 million in the same period a year ago. Shares fell 10.7%.
Gmarket Inc. (
GMKT: chart), electronic commerce merchant, said that its fourth-quarter net income increased to $6.8 million, or 13 cents per share, compared with $3.8 million, or 9 cents per share, a year earlier. Revenue jumped 67% to $51.6 million versus $30.9 million a year ago. The company''s gross merchandise value, which represents the total value of all items sold on Gmarket''s website, rose 53% to $737.4 million from $480.8 million. Shares fell 21.3%.