Miles J. Stoner, @StockHollywood

Dallas, Texas

8.22.2010

Aug 23

Milestone Financial Investments L.L.C.
  • Nasdaq-100 After-Hours Indicator Down 0.72 at 1,825.03
    • The bleeding definitely hasn't stopped yet.
  • Tech earnings helped the Nasdaq Composite to finish just north of the even mark and the S&P 500 and Dow Jones Industrial Average did finish near their best levels of the day, though still in the red. The major averages are lower for the week.
  1. Shares of chip maker Marvell Technology Group Ltd. (MRVL:$16.16,00$1.25,008.38%) edged higher late Friday, building on day-session gains in the wake of the company's quarterly results and current-quarter outlook.
  2. Cumberland Pharmaceuticals Inc. (CPIX:$6.02,00$0.19,003.26%) said the U.S. Food and Drug Administration has extended its review of the supplemental new drug application for the use of Acetadote (acetylcysteine) Injection in patients with non-acetaminophen acute liver failure.
  3. Hormel Foods Corp.'s (HRL:$43.4800,$0.1100,0.25%) fiscal third-quarter earnings rose 11% as the food-processing company saw revenue continue to rise and brands like its Hormel chili did well.
  4. Warner Chilcott plc (WCRX:$28.12,00$-0.62,00-2.16%) completed an amendment to its existing senior secured credit facilities, pursuant to which it has incurred an additional $1.5 billion aggregate principal amount of new term loans.
    • The company will use proceeds to fund a special cash dividend of $8.50 a share to its shareholders, or about $2.14 billion total. The dividend will be payable Sept. 8 to shareholders of record Aug. 30.
  5. Salesforce.com Inc. (CRM:$112.7500,$16.3400,16.95%), is up after its second quarter earnings beat analysts' expectations.  
    • Goldman Sachs also maintained its "buy" rating on the stock and raised the company's target price to $117 from $100.
  6. Intuit Inc (INTU:$44.60,00$5.83,0015.04%), is surging after it announced a $2 billion stock repurchase plan. The personal finance software company also expects annual growth to exceed analysts' expectations.
  7. Blue Coat Systems Inc (BCSI:$17.50,00$-1.45,00-7.65%) is falling after its second quarter outlook was weaker than expected. The software maker did, however, report that net income in the first quarter more than tripled on cost-cuts.
A Look Ahead: Major Corporate & Economic Events, Aug. 23 to Aug. 27     
  1. MONDAY, Aug. 23
    Extended-Hours Earnings: DSW, TUES.
    Economic Data: None scheduled.
  2. TUESDAY, Aug. 24
    Extended-Hours Earnings: BKS, BIG, BKC, MDT, PSUN, NCTY, TSL, PAY.
    Economic Data: 10 a.m. Existing Home Sales. 
  3. WEDNESDAY, Aug. 25
    Extended-Hours Earnings: AEO, BHP, BWS, CWTR, GES, HAIN, JDSU, JAS, KONG, OSIS, SMTC, SNDA.
    Economic Data: 8:30 a.m. Durable Goods Orders; 10 a.m. New Home Sales.
  4. THURSDAY, Aug. 26
    Extended-Hours Earnings:
    Economic Data: 8:30 a.m. Initial Jobless Claims.
  5. FRIDAY, Aug. 27
    Extended Hours Earnings: ARUN, BEBE, GIGM, NOVL, OCNF, OVTI.
    Economic Data: 8:30 a.m. GDP Revision; 10 a.m. Consumer Sentiment.