Coeur d'Alene Falls; Sprint Nextel Rises

Mayank Mehta
14 Sep, 2009
New York City

Coeur d

[R]12:00 PM New York – Coeur d’Alene Mines plunged after an analyst downgraded the silver mining company on the recent price surge. Sprint Nextel rises on the speculation that Deutsche Telekom is exploring merger proposal. Chesapeake Energy rises as natural gas price advance 12%.[/R]

Of the stocks in S&P 500 index, 113 increased, 383 declined and 4 were unchanged.

MetroPCS Communications, Inc led the decliners in the S&P 500 index with a loss of 3.4% followed by losses in Corning Incorporated of 3.1%, in Eastman Kodak Company of 3.0%, in Unum Group of 3.0% and in Boston Scientific Corporation of 2.8%.

Sprint Nextel Corporation led gainers in the S&P 500 index with a rise of 10.8% followed by gains in Tenet Healthcare Corporation 10.4%, in The Goodyear Tire & Rubber Company of 7.5% and in Wynn Resorts, Limited of 5.4%.

Crude oil edged lower 53 cents to $68.76 and gold declined $5.30 to $1,001.10. Natural gas surged 12% to $3.32.

Other Movers

Alcoa Inc ((AA)) decreased 2.9% or 38 cents to $12.61 after the producer of aluminum inaugurated Alcoa Bohai sheet business at its plant in Qinhuangdao, China. Separately, HSBC initiated the coverage with “underweight” rating.

Cablevision Systems Corporation ((CVC)) increased 0.9% or 24 cents to $24.56.

Corning Incorporated ((GLW)) fell 1.9% or 31 cents to $15.74.

Chesapeake Energy Corp ((CHK)) increased 2.3% after natural gas rebounded.

Coeur d’Alene Mines Corp ((CDE)) tumbled 7.4% after RBC Capital Markets analyst downgraded the stock and cited the recent surge in the price. Michael Curran revised his target price to $21 from $18 but said that the stock is already trading near this price.

Las Vegas Sands Corp ((LVS)) added 5.7% or 96 cents to $17.69 after the casino operator was upgraded to “buy” from “neutral” at Bank of America Corp.

MetroPCS Communications, Inc ((PCS)) fell 2.0% or 20 cents to $9.42.

Nalco Holding Company ((NLC)) advanced 4.0% or 74 cents to $19.18 on media speculation that the company will benefit from the businesses in emerging markets.

PMFG, Inc ((PMFG)) increased 2.2% or 25 cents to $11.30 after the provider of custom-engineered systems and products reported fourth quarter revenues fell 8.1% to $37.6 million from $40.9 million a year ago. Net income for the quarter was $2.6 million or 20 cents per diluted share compared to net loss of $1.4 million or 11 cents per share a year ago.

Regeneron Pharmaceuticals, Inc ((REGN)) fell 4.6% or $1.02 to $20.86 after the company and Sanofi ended a treatment for pancreatic cancer. The treatment was deemed ineffective by an independent committee.

SL Green Realty Corp ((SLG)) the self-managed real estate investment trust decreased 0.2% or 10 cents to $37.02.

Sprint Nextel Corporation ((S)) surged 11.1% or 42 cents to $4.19 after London, UK based Daily Telegraph reported that Deutsche Telekom is exploring a takeover of the wireless telecom carrier.

Sycamore Networks, Inc ((SCMR)) decreased 0.3% or 1 cent to $3.22 after the fiber-optic networking products company reported fourth quarter revenues rose 14% to $17.2 million from $15.1 million a year ago. Net loss for the quarter was $34.9 million or 12 cents per diluted share compared to net loss of $14.1 million or 5 cents per share a year ago.

Tenet Healthcare Corporation ((THC)) rose 9.7% or 53 cents to $5.98 today revised higher its outlook for 2009 adjusted operating earnings to a new range of $900 million to $950 million from the previous range of $810 million to $875 million. This new range corresponds to an outlook for net income attributable to shareholders in a range of $76 million to $141 million.