Sept 8

Milestone Financial Investments L.L.C.

• U.S. stock losses steepened Tuesday, with Wall Street pulling an about-face after a four-session winning stretch. Financials fell the most as worries about European debt resurfaced. 
• Nasdaq-100 After-Hours Indicator Up 1.61 at 1858.11.

1. Ciena Corp. (CIEN:$13.43,00$0.14,001.05%) is expected to report a loss of 32 cents a share in the third quarter, according to a consensus survey by FactSet Research.
2. Men's Wearhouse (MW:$20.8900,$-0.4700,-2.20%) is projected to report second-quarter earnings of 78 cents a share.
3. Smithfield Foods (SFD:$16.3000,$-0.4200,-2.51%) is likely to report first-quarter earnings of 46 cents a share.
4. After Tuesday's closing bell, Bristol-Myers Squibb Co. (BMY:$26.6100,$0.0300,0.11%) said it will buy ZymoGenetics Inc. (ZGEN:$5.30,00$-0.21,00-3.81%) for $9.75 a share in cash.
• ZGEN +84%, 5.30-9.75
5. Altera Corp. (ALTR:$26.60,00$-0.23,00-0.86%) said it now expects third-quarter revenue to rise 10% to 14% from second-quarter, compared with 4% to 8% growth it predicted previously. "It is likely that all four of the company's vertical markets will show sequential growth. The telecom and wireless vertical market is on track to be the fastest growing portion of the business, driven in large part by 3G wireless deployments and needs for additional wireless backhaul capacity,"
• +3%, 26.53-27.76
• Altera (ALTR:$26.60,00$-0.23,00-0.86%) advanced in after-hours trade after raising its Q3 guidance. ALTR touched a first-half after-hours high of 27.72 before settling between 27.20 and 27.50. It spiked higher into the second-half, hitting a top of 27.76 before again drifting back to levels near 27.50 to 27.60. Evening indications would suggest ALTR records a potential pre-market open Wednesday near 27.40 to 27.60. Buyers were most active tonight between 27.20 and 27.50, an area where longs may want to watch for a potential floor support to form tomorrow and where there may be room to catch bumps back into the mid- to higher-27s. Price: 27.60, Change: +1.00, Percent Change: +3.7
6. Phillips-Van Heusen Corp. (PVH:$50.5000,$-0.6000,-1.17%) swung to a second-quarter loss of $54.9 million, or 83 cents a share, from a profit of $26.6 million, or 51 cents a share, a year ago. Excluding one-time items, the company would have reported earnings of 72 cents a share. Revenue rose to $1.1 billion from $529.3 million in the year-ago period.
• +1.6%, 49.73-52.90
7. Pep Boys-Manny Moe & Jack's (PBY:$9.8600,$-0.1900,-1.89%) fiscal second-quarter profit jumped 37% as the auto-parts and service retailer reported higher sales and notched its sixth consecutive quarter of improved profitability.
• + 0.07%, 9.70-10.03.
8. Inergy (NRGY) declined in evening trade after announcing plans to sell 8.5 million units in an offering. NRGY declined from 36.67 to 35.56 early in the first-half of evening trade. It steadied between 35.70 and a low of 35.51 through the bulk of its night trade. A pre-market open Wednesday may have potential near 35.65 to 35.40. Buyers were active off tonight's lows in the 35.50s, but they had trouble gaining much upside traction beyond the 35.70 mark. Sell momentum was most robust early tonight between 35.90 and 35.70, an area shorts may want to eye as a possible ceiling level. Price: 35.53, Change: -1.37, Percent Change: -3.7 
• 36.67-35.51
9. NiSource Inc. (NI:$17.6100,$-0.3000,-1.68%) announced plans to sell up to $400 million of stock for purposes including the funding of infrastructure investments.
• Buyers have been pushing in moderate upside support off the low up to 17.10 to 17.20, a potential near-term floor support to watch. Price: 17.20, Change: -0.41, Percent Change: -2.3 
• 17.76-16.94
10. Telecom equipment maker Comtech Telecommunications (CMTL:$20.89,00$-0.44,00-2.06%) said it has dropped plans to buy smaller rival CPI International Inc (CPII:$14.12,00$-0.33,00-2.28%) for $472.3 million, which would have been its largest acquisition ever, sending its shares up 5 percent in extended trade.
• 20.88-21.90
11. CRM, LVS, NTAP, X, AKAM, WCRX.
12. AngioDynamics (ANGO:$15.23,00$-0.37,00-2.37%) expects Q1 sales of about $51.5 mln and EPS in the range of $0.07 to $0.08 per share, both below the Street view of $54 mln in revenue and earnings of $0.10, according to data compiled by Thomson Reuters. Price: 14, Change: -1.23, Percent Change: -8 
13. Forest Laboratories (FRX:$29.4500,$-0.1100,-0.37%) announced that the U.S. Food and Drug Administration's (FDA) Anti-Infective Drugs Advisory Committee voted 21 0 in favor of approval of ceftaroline fosamil for the treatment of community acquired bacterial pneumonia (CABP) and voted 18 0 in favor of approval for complicated skin and skin structure infections. Price: 29.57, Change: +0.12, Percent Change: +0.5 
14. Oracle (ORCL:$24.265,0$1.345,05.87%) closed the regular session up 5.8%, narroowing from a pre-market advance of 7.2% recorded after Goldman Sachs raised its rating on the stock to Conviction Buy.
15. Acorda Therapeutics (ACOR:$32.67,00$0.02,000.06%) closes the regular session up 0.06%, down from its premarket close of up 2.57%, after an upgrade to outperform from neutral at RW Baird. RW Baird's upgrade was based on valuation an a survey that indicates a strong reception for Ampyra and improvements on the reimbursement side, according to a report on the analyst action. On June 19, 2007, ACOR was up in late trade but off its late premarket level. Shares were upgraded that morning to buy from neutral at Banc of America Securities. Shares were up 4.39% in late premarket trade. Price: 32.67, Change: +0.02, Percent Change: +0.06 
16. Sanderson Farms (SAFM:$43.46,00$0.95,002.23%) ended the regular session up 2.2%, matching its premarket close of up 2.21%. Shares were raised to buy from hold at Argus, which has a $50 price goal for the shares.