Wednesday, May 13, 2009

frontier communications

U.S. stocks were down Wednesday as the Dow Jones Industrial Average fell 140 points to 8326, the S&P 500 declined 16 points to 892 and the Nasdaq Composite slid 31 points to 1684. Among the companies whose shares are actively trading in the session are GT Solar International Inc. (SOLR), BMC Software Inc. (BMC) and Applied Materials Inc. (AMAT).

GT Solar's ($5.73, -$1.49, -20.64%) fiscal fourth-quarter profit plunged 59% as the solar-equipment maker's margins slumped. On top of the disappointing results, the company issued on a weak fiscal-year view.
BMC Software ($33.00, -$2.05, -5.85%) posted a 14% decline in fiscal fourth-quarter earnings as higher charges masked increased sales at the maker of business software. Income beat expectations but revenue fall short of analysts' estimates.

Applied Materials ($11.02, -$0.46, -4.01%) swung to a fiscal second-quarter loss as sales plunged a less-than-feared 53% in a tough environment for the chip sector. The latest quarterly loss marks the second in a row for the semiconductor-equipment maker after a string of profits running back to 2003.
Medicines Co. (MDCO, $6.55, -$4.59, -41.20%) said it is discontinuing its Phase 3 Champion clinical trial of cangrelor in patients undergoing percutaneous coronary intervention. The company said an independent interim analysis review committee reported the trial wouldn't demonstrate persuasive evidence of clinical efficacy. Cangrelor is an antiplatelet agent Medicines Co. was developing for intravenous use during coronary procedures.

Dr Pepper Snapple Group Inc.'s (DPS, $22.48, +$1.22, +5.74%) first-quarter earnings rose 39% on a gain related to changes in distribution agreements as the company saw increased margins and sales improvement in carbonated soft drinks. Profit was well above analysts' expectations, prompting the beverage giant to increase its full-year earnings forecast. It still expects revenue to decline 2% to 4%.

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