Gapping up

HGSI +103.3%, MLNX +22.1%, GILD +14.8%, EBAY +8.7%, FFIV +6.3%, MS +6.2%, BAC +3.4%, MAR +3.1%, VMW +2%, UNH +1.2%

Gapping down

PLCM -5.1%, QCOM -3.6%, EMC -3.4% SCSS -2.8%, YUM -2%, STD -2.0% SWK -1.9%, NOK -0.8%

Source

“Core Laboratories NV (CLB) : The company that maps and analyzes oil fields using core samples had first-quarter earnings excluding some items that met the average analyst projection, data compiled by Bloomberg show.

EBay Inc. (EBAY) : The world’s largest Internet marketplace reported sales and profit that topped analysts’ estimates, led by growth in its PayPal online-payments business.

F5 Networks Inc. (FFIV) : The software maker said annual revenue will climb at least 20 percent and said second-quarter adjusted earnings were $1.09 a share, exceeding the $1.07 average analyst projection. Revenue also beat estimates, data compiled by Bloomberg show.

Marriott International Inc. (MAR) : The largest publicly traded U.S. hotel chain had first-quarter revenue that exceeded analyst projections and raised its 2012 earnings estimate to as much as $1.69 a share, compared with the $1.60 average forecast of analysts surveyed by Bloomberg.

Qualcomm Inc. (QCOM) : The largest maker of mobile-phone chips projected third-quarter sales and profit that fell short of analysts’ estimates as it increases spending to improve output of chips.

SLM Corp. (SLM) : The student lender known as Sallie Mae said first-quarter earnings were 55 cents a share, exceeding the average analyst estimate.

Yum! Brands Inc. (YUM) : The owner of the KFC and Taco Bell restaurant chains had comparative sales in China that trailed the average estimate.”

In Play

On the Wires

Morgan Stanley

Ebay

American Express

Verizon

Bank of America

I’m just using the news section to talk my own book.

Nothing to see here.

But C only lost 92% of its stock price over the last 5 years. If you don’t pay a jackass like Pandit $15 million, you might get second rate management like Dick Fuld, and then where would you be?

Read here:

Is Citigroup (C) CEO Vikram Pandit worth $15 million?

Citi shareholders don’t think so. They gave a vote of no confidence to Pandit’s board-approved compensation package on Tuesday, snubbing Pandit and sounding a clarion call to other investors: It’s time to fight excessive executive pay.

Shareholders definitely made a bold statement by rejecting the offer but their vote is nonbinding, meaning Citi’s board can still pay Pandit the proposed $14.9 million compensation package this year.

After accepting a $1 salary in 2009 and 2010, Pandit’s compensation increased to around $7 million last year. He also received a $40 million retention package that will be paid out over the next few years.

According to The Wall Street Journal, Citigroup is the first major bank to have experienced shareholder backlash against executive pay. Just two percent of compensation packages were voted down last year based on research by ISS Proxy Advisory Services, a provider of corporate governance solutions to financial firms.

Shareholders have singled out executive pay over the past few years as CEO salaries have reached unprecedented levels, even in the face of falling stock prices and disappointing company performance.

(Reuters) – BlackRock Inc (NYS:BLK – News), the world’s largest asset manager, said first-quarter profits were steady, bolstered by strong inflows into its popular iShares exchange-traded fund business.

But despite the inflows and booming equity markets during the first quarter, revenue at New York-based BlackRock declined $33 million, or 1 percent, to $2.2 billion, the firm said on Wednesday. Investors continued to favor the firm’s indexed funds over actively managed accounts, which typically generate higher fees, though not necessarily higher profit margins.

Shares of BlackRock, fell 2.4 percent to $196.88 on Wednesday on the New York Stock Exchange. Through Tuesday, the shares had gained 12 percent this year, compared with a 10 percent gain in the S&P 500 index (.SPX).

Chief executive Laurence Fink kept a tight hand on expenses. Even as BlackRock rolled out a new global ad campaign around the slogan “Investing for a New World,” Fink cut operating expenses by $50 million, or 3 percent, to $1.4 billion on lower office occupancy, fund and compensation costs.

Net income increased to $572 million, or $3.14 per share, from $568 million, or $2.89 per share, in the same quarter a year before.

NEW YORK (Reuters) – Shares in Chesapeake Energy Corp (NYS:CHK – News) fell nearly 10 percent on Wednesday after a Reuters report that Chief Executive Aubrey McClendon had borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells.

The stock dropped 9.6 percent to $17.28 in early afternoon. Shares last traded at that level in July 2009.

The volume of Chesapeake shares changing hands was more than double the 10-day moving average, and the stock was the most actively traded on the New York Stock Exchange.

“It’s certainly not a positive article,” said Capital One Southcoast analyst Marshall Carver. “I think that has something to do with” the stock drop.

At a previously planned presentation to analysts and investors Wednesday morning, McClendon did not mention the Reuters report.

The CEO, who appeared subdued compared with his usual upbeat demeanor, was not asked about the report as he discussed the company’s drilling program and asset sales.

The news threatens to “put a cloud” over the company’s planned initial public offering of its oilfield services unit, Brean Murray analyst Ray Deacon said.

Chesapeake wants to raise up to $862.5 million from the IPO, first announced on Monday.

“Now that loan documents are made public, it just adds another layer of complexity to an already opaque corporate web,” Deacon said.

Gapping up

DEPO +11.3%, URI +7.6%, ISRG +6%, ADES +2.9%, CSX +2.9%, SYK +2%, BBL +1.9%,

YHOO +1.9%, BHP +1.7%, AIG +1.2%,  DECK +2.2%, AIG +1.8%, MUX +1.6%, BBY +2.6% ,

ADES +2.9% , RIO +1.3%, HSI +34.9%,SXCI +12.1% , THQI +44.4%, URI +10%, ISRG +6%, PII +5.3%

TXT +4%, STX +3.1%, HAL +2%, ABT +1.3%, SYK +0.2%,

Gapping down

IN -17.7%, GNW -7.8%, TNP -6.8%, CREE -6.3%, ASML -3.3%, INTC -2.1%, IBM -2.1%, PARL -1.6%,

BEE -1.5%, MT -1.4%, LEDS -1.3%,  MSTR -1.5%, FSLR -0.8% , PNRA -0.8% ,  BRK.B -0.9%,

CHK -1.3%,  TNP -6.8% , ALU -4%, E -1.3%, TOT -0.9%, RIG -0.6%, BP -0.4%,  PARL -1.6%,

UBS -3%, NBG -2.8%, CS -2.6%, STD -2.3%, DB -1.2%, ING -0.4%, C -0.3%, SYT -3% , ASML -2.8%,

LLTC -1.7%,

Source

“Cree Inc. (CREE) : The maker of energy-efficient lighting reported third-quarter earnings of 20 cents a share, missing the average analyst estimate by 1 cent.

CSX Corp. (CSX) : The biggest U.S. eastern railroad said first-quarter profit topped analysts’ estimates as freight shipments rose.

Intel Corp. (INTC) : The world’s largest semiconductor maker predicted higher second-quarter sales than some analysts had estimated as it ships new personal-computer and server chips and shortages of hard drives abate.

International Business Machines Corp. (IBM) : The world’s biggest computer-services provider reported first-quarter revenue was $24.67 billion, falling short of the average analyst estimate of $24.79 billion.

Intuitive Surgical Inc. (ISRG) : The maker of a robotic system to perform surgery reported first-quarter adjusted profit of $3.50 a share, surpassing the average analyst estimate of $3.12.

Stryker Corp. (SYK) : The maker of artificial hips and knees reported first-quarter sales of $2.16 billion, topping the average analyst estimate of $2.12 billion.

United Rentals Inc. (URI) : The construction-equipment rental company posted first-quarter revenue of $656 million, exceeding the average analyst estimate of $611.4 million.

Yahoo! Inc. (YHOO) : The largest U.S. Web portal reported earnings and sales that exceeded estimates as it benefited from growth in the online advertising market under newly appointed Chief Executive Officer Scott Thompson.”

In Play

On the Wires

HAHAHA

SOURCE

“Chesapeake Energy Corp. (NYSE: CHK) will spin-off its wholly-owned oilfield services business into a new company to be called Chesapeake Oilfield Services Inc., which will trade on the NYSE under the stock symbol ‘COS’. The filing indicates that the company hopes to raise $862.5 million from the offering, but the filing does not indicate how many shares will be sold. Underwriters for the offering are Goldman Sachs Group Inc. (NYSE: GS) and Bank of America Corp.’s (NYSE: BAC) Merrill Lynch.

Chesapeake Energy will control the oilfield services business following the spin-off through its ownership of all the new company’s shares of Class B common stock:

Chesapeake will continue to control our business and will be able to control all matters requiring the approval of our shareholders, including the election of directors and the approval of significant corporate transactions.

The S-1 filing shows that services business revenues have doubled from about $650 million in 2009 to $1.3 billion into 2011, and a net loss of about $40.4 million in 2009 is now a net profit of about $19.8 million. That’s a pretty nice turnaround at a time when natural gas prices are at near-record lows.

The filing is available here.”

Tough times for Nokia. Do you think its a buy ?

Gapping up

GMXR +6.3%, NBG +5%, MDAS +4%, BCS +4%, ING +3.6%, DB +3.4%, CS +3%, E +2.7%,

UBS +2.6%, TSL +1.6%, HBC +1.4%, SAP +1.1%, RDS.A +1%, MLNX +1.4%, QCOM +0.4%,

SAP +1.5%, TNK +2.2%, VLO +1.5%, USB +1.2%, MMR +1.1%, CMA +5.3%, ICUI +2%,

FCX +1.8%, NBG +5%, ING +5%, BAC +2.4%, C +1.5%, HBC +1.4%,

Gapping down

ZOOM -14.3%, STWD -4.4%, AMTG -3.3%, EXR -2.4%, TIBX -1.3%, CHOP -4.4% , GS -0.5%,  DNN -8.5% ,

KITD -6.2%, AMTG -3.3%,  WNC -3.2% , EXR -2.4%, CLS -1.2%,

Source

“Cheniere Energy Inc. (LNG) surged 12 percent to $19.02. The liquefied natural-gas company won federal approval to build the largest U.S. natural-gas export terminal as drillers who extract the fuel from shale formations struggle to find domestic buyers to absorb a glut.

Consol Energy Inc. (CNX) : The fuel producer based in Canonsburg, Pennsylvania suspended coal production forecasts for the second quarter and 2012 until the idled longwalls at the Blacksville and Buchanan mines have been restarted.

DTS Inc. (DTSI) : The maker of decoders used in surround- sound systems agreed to acquireSRS Labs Inc. (SRSL) in a cash-and-stock transaction valued at $9.50 per share, or $148 million.

Extra Space Storage Inc. (EXR) dropped 2.3 percent to $28.23. The operator of self-storage facilities will sell 7 million shares in a public offering. Proceeds will be used to fund acquisitions and repay debt and for general corporate purposes.

Goldman Sachs Group Inc. (GS) declined 2 percent to $115.35. The fifth-biggest U.S. bank by assets reported a 23 percent decline in first-quarter profit.

Kit Digital Inc. (KITD) fell 6.2 percent to $6.70. The provider of software for online video said nonexecutive Chairman Kaleil Isaza Tuzman resigned.

Lincare Holdings Inc. (LNCR) : The Clearwater, Florida- based oxygen supplier reported first-quarter earnings of 54 cents a share, beating the average analyst estimate by 1 cent.

Starwood Property Trust Inc. (STWD) decreased 3 percent to $20.30. The real estate investment company will sell 20 million shares in a public offering. Proceeds from the sale will be used to originate and purchase commercial mortgage loans and other assets, and for other general corporate purposes.

U.S. Bancorp (USB) rose 1.8 percent to $31.72. The nation’s fifth-largest lender by deposits reported a 28 percent increase in first-quarter profit that beat analysts’ estimates as revenue rose and credit losses fell.”

In Play

On the Wires 

About 30% of the workforce is slated to be eliminated…

“Research In Motion Ltd. (RIM), the troubled maker of the BlackBerry smartphone, is in talks to hire a financial adviser to help it weigh strategic options, according to four people with knowledge of the matter.

A decision to work with at least one bank could come in the next few days, said one of the people, who asked to remain anonymous because the deliberations are private. RIM would prefer an agreement to license its mobile-phone software, and its next choice is a strategic investment, one person said. RIM doesn’t plan to sell itself, the person said….”

Full article