QGEN, EVTC, NTY, SOLR, MDR, ABK, SF, ARM, PRKR Popular Stocks
U.S. stocks were mixed Tuesday as the Dow Jones Industrial Average rose 11 points to 10238 but the S&P 500 lost 0.14 points to 1093 and the Nasdaq Composite fell 2 points to 2152.
Qiagen NV’s (NASDAQ:QGEN, $23.00, +$0.61, 2.72%) third-quarter profit surged 81% as the Dutch diagnostic-products maker reported fewer charges and better-than-expected results amid strong sales growth.
Germany-based drug company Evotec AG (NASDAQ:EVTC, $6.38, -$0.62, -8.86%) announced it is voluntarily delisting its American depositary shares from the Nasdaq stock market. The company plans to concentrate its share trading on Germany’s TecDAX platform, which it recently reentered.
NBTY Inc.’s (NYSE:NTY, $39.48, -$0.90, -2.23%) fiscal fourth-quarter earnings more than tripled, topping analysts’ expectations. The nutritional-supplement maker and retailer saw a 12% increase in sales and said October sales had grown sequentially.
GT Solar International Inc.’s (NASDAQ:SOLR, $4.68, -$0.86, -15.52%) fiscal second-quarter profit declined 66% as the solar company posted lower revenue and margins after a year of surging growth.
McDermott International Inc.’s (NYSE:MDR, $23.38, -$0.78, -3.23%) third-quarter earnings rose 38%, and topped expectations, helped by strong results in the oil-and-gas construction segment. The engineering and construction company, which focuses on energy infrastructure, saw its oil and gas segment swing to a profit on a 26% rise in revenue.
MBIA’s (MBI, $3.69, -$1.11, -23.13%) third-quarter loss narrowed slightly as losses in the insurance business were greater than expected and the housing downturn continued to cause asset losses. The bond insurer posted its fifth quarterly loss in the past two years. Rival Ambac Financial Group Inc. (NYSE:ABK, $0.851, -$0.329, -27.86%) also dropped as it said paying off debt coming due in August 2011 could be a problem, leading it to consider strategies that include a prepackaged bankruptcy filing.
Stifel Financial Corp.’s (NYSE:SF, $54.42, +$1.44, 2.72%) third-quarter earnings rose 73%, as the Midwest investment bank posted a healthy increase in transaction revenue. Results topped Wall Street estimates.
ArvinMeritor Inc. (NYSE:ARM, $9.24, +$0.55, 6.33%) posted a narrower-than-expected fiscal fourth-quarter loss as cost cuts helped offset weak auto-production volume. The auto supplier’s revenue also topped estimates.
ParkerVision Inc. (NASDAQ:PRKR, $1.96, -$0.59, -23.14%) announced details of its planned stock sale, saying it will offer at least 8 million shares at $2 each, a steep 22% discount to Monday’s closing price. The developer of wireless-communications technology reported a narrower third-quarter loss on Monday.
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