Cimatron Ltd. (CIMT: chart) shares more than doubled in value after the company swung to a fourth-quarter profit of $557,000, or 7 cents per share, on revenue that climbed 11% from last year to $6 million.

Aruba Networks (ARUN: chart) maker of wireless networking products jumped 24.1% on their first day of trading. The company''s initial public offering of 8 million shares priced at $11 a piece, above the projected range of $8 to $10.

Barrier Therapeutics Inc. (BTRX: chart) said a mid-stage trial of its oral antifungal product candidate, pramiconazole, met both the main and secondary goals. The main goal of the study was to treat tinea versicolor, a common skin fungal infection characterized by a discolored, scaly, itchy rash primarily on the back, chest and upper arms. Shares of the company jumped 8.4%.

[R]1:30PM NY – 5:30PM Frankfurt – European Markets Close[/R]

European markets across the region rose in the morning trading but closed lower as the market neared the close. Germany closed higher led by a rise in auto stocks. DaimlerChrysler (DCX: chart) rose 3% on the market belief that the sale of its Chrysler Group is imminent. BNP Paribas rose target for the DaimlerChrysler to 70 euros from 62 euros. Morgan Stanley raised its target price to 75 euros from 62 euros.

Porsche rose 2.8% to 1,153 euros on the news that the company has raised its stake to 30.9% in Volkswagen triggering a takeover bid threshold. However, the company said that it is not likely to pay more than 101 euros for additional stake of Volkswagen. VW stock fell 3% to 110.50 euros.

German athletic footwear maker Adidas jumped 5% to 41.15 euros on takeover rumors and broker upgrade.

Siemens board member, Johannes Feldmayer, was arrested today in connection with investigation related to an illegal financing of a trade union rival to its main union. The company is under investigation for its activities related to breach of trust for the last two years.

Mining and energy stocks led main index in London slightly higher in a quite trading. Rio Tinto (RTP: chart), Mittal (MT: chart) and BHP Billiton (BHP: chart) closed higher. Belgium closed 0.53% up and Spain rose 0.4% at close however, Norway fell 0.6% and Switzerland dropped 0.44%.


[R]12:30PM NY – US stocks fall on housing index fall and larger than expected fall in consumer confidence[/R]

Market averages fell at mid-day trading led by a sharp fall in stocks in housing and construction industry. The S&P Case-Shiller composite index dropped 0.7% in January from a year ago. The index tracks prices of homes in 10 metropolitan markets and index that tracks prices in 20 metros fell 0.2%.

Home builder Lennar Inc (LEN: chart) fell $1.02 or 2% at mid-day trading on the report that its first quarter profit fell 73% on revenue decline of 14%. The company reported earnings per share of 43 cents compared to $1.58 a year ago. The company also said that it is not likely to meet the earnings guidance for the year 2007. In the last one year the stock has traded between $62.38 and $38.66. The news dragged the entire housing sector down.

The Conference Board in New York reported consumer confidence in March fell to 107.2, down from the revised February level of 111.2.

[R]9:30AM The FTSE 100 was edges higher Tuesday on bid talk involving Next.[/R]

The UK market was slightly higher on Tuesday. By mid-day, the FTSE 100 added 0.17%, to 6,302.

Advancers

Next led the advancers with a gain of 3.6% on a report that a leading investment bank has joined forces with a private equity group to work on an leveraged buyout of the retailer.

Miners were higher, helped by stronger commodity prices and hopes for further consolidation in the sector. Kazakhmys added 0.6%, after Citigroup upgraded its recommendation from hold to buy.

Xstrata was up 1.3% on the announcement on Monday that it was to acquire Canadian nickel and gold miner LionOre Mining International. Other miners trading strongly included Rio Tinto, up 1%, Anglo American, up 1.2%, and BHP Billiton, higher by 1.4%.

Signet led the mid-cap advancers with an increase of 3.6%, after Morgan Stanley upgraded the jewllery retailer from equal weight to overweight and raised its price target. Emap rose 2.6% as the media group confirmed it was considering its options relating to its radio operations in the Republic of Ireland. GCap Media added 3.7% after the radio company said advertising revenues had improved steadily over the last six months

Decliners