The Right Stock At The Right Time®  Launch Smart Chart
Updated For:
  Home     Markets     Stocks   |   ETF Center   |   Stock Watch   |   Screening Tools   |   Trading Ideas   |   Advanced Tools   |   Help/Contact Us    
 
Favorites
Daily Market Comment 
Dr. ME Talks Stocks 
Market Letter
On The Edge
The Outlook
Email Alert

News & Analysis
Markets
Stocks & Funds
Options & Futures
Economy
Personal Finance

By Providers
Standard & Poor's
TheStreet.com



 

07/29/14 04:26:07 PM
MARKET MOVERS

Movers: Arch Coal Inc., MicroStrategy Inc., Impax Laboratories Inc.

Arch Coal Inc.(ACI) : ST. LOUIS (AP) Arch Coal Inc. said Tuesday that its second-quarter loss widened partly because of nagging rail disruptions and weaker prices for coal used in making steel, though cost controls helped the coal producer's latest earnings surpass analysts' expectations. The St. Louis-based company posted a loss of $96.9 million, or 46 cents per share, compared with a loss of $72.2 million, or 34 cents per share, in the same quarter a year earlier. Losses, adjusted for one-time gains and costs, were 46 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share. The coal producer said revenue dropped 6.9 percent to $713.8 million from $766.3 million in the same quarter a year earlier, missing Wall Street forecasts of $718.5 million, according to Zacks. Arch shares rose 15 cents, or 5.24 percent, to $3.01 in midday trading Tuesday. The company's shares have decreased $1.59, or 36 percent, to $2.86 since the beginning of the year. The stock has fallen $1.26, or 31 percent, over the past 12 months. Arch Coal announced last week that it was idling the Cumberland River operations in Virginia and Kentucky, eliminating more than 210 full-time positions and cutting its full-year metallurgical coal volumes by about 200,000 tons. Arch called the move necessary in responding to market challenges for steel-making coal, and that the company's strategy is to shift its portfolio toward higher-margin, lower-cost metallurgical coal operations. Arch Coal now expects to ship between 6.3 million and 6.9 million tons of metallurgical coal for 2014, down from 6.3 million to 7.3 million tons. Arch on Tuesday said it now expects 2014 sales of coal used by power plants to be 124 million to 130 million tons, down from 124 million to 132 million tons. Arch also said it was reducing its capital expenditures for this year, now expecting to spend $170 million to $180 million for capital programs, including land and reserve additions. "Through this cyclical downturn, we have been focused on controlling our costs and capital spending, and we have further reduced our capital outlay and administrative spending expectations for full year 2014," John Drexler, Arch's senior vice president and chief financial officer, said in a statement Tuesday. "Looking ahead, we remain focused on those factors within our control to position Arch for a future market rebound," added John Eaves, Arch's president and chief executive officer.



MicroStrategy Inc.(MSTR) : US-based business intelligence software producer MicroStrategy expanded its net loss to US$10.3mn in the second quarter from US$1.6mn in 2Q13- The company said in a statement that revenue increased 2.8% to US$141mn. Product support accounted for the bulk of income, with US$74.6mn; followed by product license revenue, US$35.3mn; and other services, US$32mn. MicroStrategy is developing a restructuring plan for the second half of the year to streamline its workforce and spending, which would generate pre-tax savings of at least US$40mn. In Latin America, MicroStrategy operates in Argentina, Brazil and Mexico.



Impax Laboratories Inc.(IPXL) : Cowen & Company downgrades Impax Laboratories, Inc. (NASDAQ: IPXL) from Outperform to Market Perform, according to Bloomberg. 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



Cognex Corporation(CGNX) : Cognex(NASDAQ: CGNX) rose sharply Tuesday after the company bested second-quarter estimates and predicted revenue for the current period 17 percent higher than Wall Street expected. Cognex, which provides manufacturing equipment, said second-quarter revenue grew 20 percent from a year earlier to $108.8 million, up 20 percent from the previous quarter. For the current third quarter, Congenx forecast revenue up 50 percent sequentially, to between $165 million and $170 million, including $60 million from "a major customer." Wall Street expected third-quarter revenue of $142 million. Cognex also forecast a gross margin in the "mid-70 percent range," slightly lower than in recent quarters, and a 25 percent increase in operating expense. "Cognex intends to make further investments in growth areas, some of which are not expected to repeat in the second quarter," the company said. In the recent period, Cognex's factory automation segment was the largest revenue contributor, with strong performance for the segment in Europe following a lackluster 2013. Cognex's 76 percent gross margin was flat from a year earlier, but down one percent from the first quarter because lower-margin surface inspection systems were a growing part of revenue. The company posted second-quarter earnings of $0.29 per share, versus Wall Street expectations of $0.22. Shares traded recently at $43.32, up 14.5 percent. 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



Arch Coal Inc.(ACI) : ST LOUIS, Mo. (AP) Arch Coal Inc. (ACI) on Tuesday reported a bigger loss in its second quarter, and beat analysts' expectations. The St. Louis-based company posted a loss of $96.9 million, or 46 cents per share, compared with a loss of $72.2 million, or 34 cents per share, in the same quarter a year earlier. Losses, adjusted for one-time gains and costs, were 46 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share. The coal producer said revenue dropped 6.9 percent to $713.8 million from $766.3 million in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $718.5 million, according to Zacks. Arch Coal shares have decreased $1.59, or 36 percent, to $2.86 since the beginning of the year. The stock has fallen $1.26, or 31 percent, in the last 12 months. This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full ACI report: http://www.zacks.com/ap/ACI Keywords:Arch Coal,Earnings Report



Impax Laboratories Inc.(IPXL) : In a report published Tuesday, Bank of America analyst Sumant S. Kulkarni reiterated an Underperform rating on Impax Laboratories (NASDAQ: IPXL), and raised the price target from $27.00 to $28.00. In the report, Bank of America noted, "We are raising our DCF-based price objective from $27 to $28 based mainly on rolling forward our discount period to mid-2015 (vs. end-2014). We did not make any substantial changes to our model, which we updated for Rx trends in the Parkinson's market that drives our Rytary estimates. We remain cautious on IPXL shares as our model already builds in significant value for new launches (including Rytary) and because IPXL's FDA issues are as yet unresolved. That said, we believe IPXL, with new CEO Fred Wilkinson (ex-Actavis) at its helm, could engage in business development activity, which could present a risk to our thesis; recall that IPXL remains cash-rich (~$6/share)." Impax Laboratories closed on Monday at $28.03. 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



MicroStrategy Inc.(MSTR) : Windstream Holdings (NASDAQ: WIN) shares reached a new 52-week high of $12.864 after the company announced its plans to spin off assets into publicly traded REIT. MicroStrategy (NASDAQ: MSTR) shares touched a new 52-week high of $154.14 on Q2 results. JMP Securities upgraded MicroStrategy from Market Perform to Market Outperform. Cognex (NASDAQ: CGNX) shares surged 17.96% to touch a new 52-week high of $44.59 after the company reported better-than-expected quarterly results and issued a strong Q3 revenue outlook. Level 3 Communications (NYSE: LVLT) shares gained 5.74% to touch a new 52-week high of $47.49 after the company reported better-than-expected Q2 results. 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



 

Past performance is not a guarantee of future results. The data contained in Market Edge is obtained from sources considered by Computrade Systems, Inc. to be reliable but the accuracy and completeness thereof are not guaranteed. Computrade Systems, Inc. does not and will not warrant the performance and results that may be obtained while using the Market Edge research service.
The Market Edge research service & Second Opinion are neither offers to sell nor solicitations of offers to buy any security.
Company profile, estimates and financials provided by Standard & Poor's
See User Agreement for other disclaimers.
Market Edge and Second Opinion are registered trademarks of Computrade Systems, Inc.
© 2014 Computrade Systems, Inc.
© 2014 The McGraw-Hill Companies, Inc. Standard & Poor's is a division of The McGraw-Hill Companies, Inc. See full Copyright for details.