Tuesday, August 7, 2012

Stocks Ended Higher, Dow Up 51(MU, CLWR, FLEX, CNQR, DCTH)

U.S stocks ended higher for the third straight session on Tuesday with the NASDAQ Composite(INDEXNASDAQ:.IXIC) closed well above 3K mark for the first time in the past three months, while the S&P 500 closed above $1, 400 mark on growing optimism the European Central Bank would act soon to contain the euro zone's debt crisis.

Micron Technology, Inc. (NASDAQ:MU) stock gained 3.81% to $6.82 after the company announced that Glen Hawk, vice president of their NAND Solutions Group, will lead a webcast update tomorrow on Micron's solid state drive (SSD) business. Mr. Hawk will discuss Micron's position and view of the market as well as the company's strategies. The GMs of Micron's client and enterprise SSD divisions will also present updates specific to those markets. Audio and slides from the session will webcast live from Micron's Investor Relations website at investors.micron.com.

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Clearwire Corporation (NASDAQ:CLWR) shares climbed 5.63% to $1.50 after surging 10% in Monday’s session.. The 52 week trading range for the company is $0.83 - $3.50. The shares of the company have declined over 18% in the last one year. The company, on July 26, 2012, reported a second quarter loss of $145.8 million, or $0.33 a share, from a year-earlier loss of $168.7 million, or $1.01 a share.  Revenue decreased 1.8% to $316.9 million. Analysts most recently projected a loss of $0.31 a share on revenue of $321 million.

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Concur Technologies, Inc. (NASDAQ:CNQR) shares increased 3.28% to $67.66 after Investment analysts at Nomura assumed coverage on shares of Concur Technologies and set a “buy” rating on the stock. The company last posted its quarterly earnings results on August 1. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.21. The company’s revenue for the quarter was up 26.5% on a year-over-year basis.

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Flextronics International Ltd. (NASDAQ:FLEX) stock climbed 6.31% to $6.74 after the shares of  Flextronics was upgraded by research analysts at Goldman Sachs from a “sell” rating to a “buy” rating in a report released today. The company last released its earnings data on July 25. The company reported $0.23 EPS for the quarter, beating the analyst’s estimate of $0.22 by $0.01. The company’s quarterly revenue was down 20.2% on a year-over-year basis.

Delcath Systems, Inc. (NASDAQ:DCTH) stock fell 2.87% to $1.69 after the company announced financial results and highlights for its second quarter 2012 ended June 30, 2012 and recent corporate accomplishments.

The company posted second quarter operating loss of $15.4 million, as compared to operating loss of $10.5 million in the year ago period. At June 30, 2012, cash, cash equivalents and certificates of deposit were $29.3 million, as compared to $30.8 million at December 31, 2011. Gross cash spend in the second quarter 2012 was $14.2 million, as compared to $8.2 million in the same period in the prior year.

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