Verisign, Rite Aid, Allied Irish Plunge

Mayank Mehta
08 Jun, 2009
New York City

Verisign, the Internet domain registry declined after a court ruling that permitted trial against the company for anti-trust violations. Allied Irish Banks dropped 11% after the long term debt outlook was lowered for the second time this year.

[R]2:00PM New York – Verisign, the Internet domain registry declined after a court ruling that permitted trial against the company for anti-trust violations. Allied Irish Banks dropped 11% after the long term debt outlook was lowered for the second time this year.[/R]

Of the stocks in S&P 500 index, 75 increased, 418 declined and 6 were unchanged.

VeriSign, Inc led the decliners in the S&P 500 index with a loss of 6.5% followed by losses in Wynn Resorts, Limited of 6.3%, in Genworth Financial, Inc of 6.3%, in Office Depot, Inc of 5.8% and in United States Steel Corporation of 4.7%.

SLM Corporation led gainers in the S&P 500 index with a rise of 11.2% followed by gains in of General Mills, Inc 3.3%, in Constellation Brands, Inc of 2.9% and The PNC Financial Services Group, Inc of 2.9%.

Other Movers

Allied Irish Banks, Plc ((AIB)) sank 10.9% or 68 cents to $5.57 after the nation’s second-largest lender’s long-term debt rating was lowered for the second time in four months.

Angiotech Pharmaceuticals, Inc ((ANPI)) surged 50.5% or 87 cents to $2.57 after the the Food and Drug Administration approved device to treat recurring pulmonary embolism, which is a blockage of artery or one of its branches.

Arena Pharmaceuticals, Inc ((ARNA)) advanced 16.5% or 65 cents to $4.59 after the San Diego-based drug maker reported that its weight management drug reported “significant” results.

Barclays PLC ((BCS)) slipped 3.1% or 58 cents to $18.05 as the company is not likely to receive additional offers to sell its popular ETF division.

Copa Holdings, S.A. ((CPA)) decreased 5.8% or $2.27 to $36.90 after the Panama based air carrier reported load factor in May plunged to 63.8% from 75.3% a year ago month. The traffic in the month decreased 2.3% and capacity surged 18.4%.

Fronteer Development Group Inc ((FRG)) the Canadian gold and uranium production and Exploration Company dropped 3.6% or 15 cents to $3.95.

General Mills, Inc ((GIS)) added 3.6% or $1.91 to $54.07 after the food processor lifted its earnings outlook.

Headwaters Incorporated ((HW)) fell 9.2% or 46 cents to $4.50 after the provider of services to the coal mining industry proposed amendment to its senior secured credit agreement which would permit it to replace its revolving credit facility and to amend certain covenants.

Jacobs Engineering Group Inc ((JEC)) the second-largest publicly traded U.S. engineering company declined 3.0% or $1.35 to $42.27.

OceanFreight Inc ((OCNF)) slid 3.9% or 7 cents to $1.73 after the company, whose ships transport raw commodities including iron ore, coal and oil, the company has sold the M/V Lansing, a 1996 built Panamax of 73,040 dwt to a third party for a gross price of $21.95 million.

Rite Aid Corporation ((RAD)) declined 13.7% or 9 cents to $1.65 after the drugstore retail chain announced today its intention to offer $400 million aggregate principal amount of senior secured notes due 2016.

SLM Corporation ((SLM)) the student loan lender added 11.1% or 77 cents to $7.38 after the TV show host known to make wild predictions and his antics on Television picked the stock as his “speculative stock of the year.” The stock has suffered after Obama administration preferred to conduct student lending away from the company.

Semiconductor Manufacturing International Corporation ((SMI)) the computer-aided design services provider rose 8.9% or 24 cents to $2.92.

Verisign, Inc ((VRSN)) plunged 15.1% to $19.67 after the 9th U.S. Circuit Court of Appeals ruled in a unanimous ruling that an industry trade group should be allowed to proceed to trial to determine if the company inflated prices and engaged in domain name registry predatory and monopolistic practices. The group Coalition for ICANN Transparency brought the original law suit in 2005.