March 21 Some U.S. stocks on the move on
Thursday:for the Morning News Call newsletter,)
WALL STREET OPENS LOWER, ORACLE WEIGHS
U.S. stocks opened lower on Thursday as Oracle Corp ORCL.O
tumbled a day after reporting sales that were below
expectations. The Dow Jones industrial average was down
63.55 points, or 0.44 percent, the Standard & Poor's 500 Index
was down 7.72 points, or 0.50 percent, and the Nasdaq
Composite Index was down 23.19 points, or 0.71 percent.
** ORACLE CORP, $32.71, down 9 pct (0943 ET)
The world's No. 3 software maker blamed its rapidly
expanding salesforce for a severe miss in third-quarter software
sales and warned that its ailing hardware business will lose
more ground this quarter.
Separately, Blackstone Group LP, which is weighing an
offer for Dell Inc, is making an aggressive push to
recruit Oracle President Mark Hurd to be the chief executive of
the world's No. 3 PC maker, a person familiar with the situation
said on Wednesday.
** YAHOO INC, $22.60, up 2 pct (0943 ET)
Oppenheimer raised its rating on the company's stock to
"outperform" from "perform" and raised its price target by $5 to
$27, partly on the assumption that Alibaba will complete its IPO
within the next year, benefiting Yahoo, which has a 24 percent
stake in the Chinese company.
** AIRGAS INC, $97.71, down 5 pct (0942 ET)
The industrial gas supplier said weaker-than-expected sales
suggested that it may miss the lower end of its fourth-quarter
earnings forecast by 4 percent.
** KB HOME, $21.64 (0946 ET)
The fifth-largest U.S. homebuilder reported a
smaller-than-expected first-quarter loss and a jump in new home
** PERRY ELLIS INTERNATIONAL INC, $17.94, up 3 pct
The apparel retailer's fourth-quarter profit beat estimates,
helped by sales growth and lower promotions in its Golf
lifestyle apparel, Laundry by Shelli Segal and namesake brands.
** GUESS INC, $25.25, down 6 pct (0941 ET)
** TILLY'S INC, $12.44, down 10 pct (0941 ET)
** PACIFIC SUNWEAR OF CALIFORNIA INC, $2.24, down 8
pct (0941 ET)
The apparel retailers forecast first-quarter results
significantly below analysts' estimates as they battle flagging
consumer demand due to a sluggish economy and higher payroll
** ASTRAZENECA, $47.18, up 2.2 pct (0939 ET)
The company's new chief executive announced another 2,300
job cuts in sales and administration on Thursday as he set out
his stall for turning round the struggling drugmaker and
returning it to growth.
** JABIL CIRCUIT INC, $18.94, down 3 pct (0938 ET)
The contract electronics maker forecast third-quarter
results that fell short of Wall Street expectations as its
largest customer Apple gets ready for product transitions.
** SCHOLASTIC CORP, $27.72, down 11 pct (0936 ET)
The children's books publisher cut its full-year forecast
for the second time as sales of its "Hunger Games" trilogy
remained lower than last year's and customers continued to delay
spending on its educational products.
** NICHOLAS FINANCIAL INC, $14.80, up 12 pct (0936
The consumer finance company said on Wednesday that it had
retained an independent financial advisor to assist in
evaluating possible strategic alternatives. The company also
said it had received an unsolicited offer from a potential
** TUMI HOLDINGS INC, $22.56, down 5 pct (0936 ET)
The luxury handbag maker reported a lower-than-expected
quarterly profit, hurt by a 15 percent increase in costs related
to online promotions and store expansions..
Citigroup trimmed its price target on the stock to $25 from