Tag - DOCX

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) fell throughout Thursday’s trading session on weaker-than-expected durable goods orders and lackluster financial firm news, magnifying investors’ already present concerns surrounding a possible economic slowdown. The small-cap index dropped 23.52 points, or 2.95%, to 773.51. The Dow shed 192.08 points, or 1.42%, to 13,359.61.

News of the assassination of former Pakistani Prime Minister Benazir Bhutto only added to the unsettling economic data, shaking the markets.

Durable goods orders for the month of November edged up a less-than-forecasted 0.1% from October’s 0.4% decline. Economists were forecasting an increase of 2.5%.

In corporate news, Goldman Sachs issued a note late Wednesday speculating that financial juggernaut Citigroup Inc. (NYSE: C) might have to slash its dividend by 40% in light of now greater-than-forecasted write-downs for bad bets on collateralized debt obligations. Goldman is now projecting write-downs in the neighborhood of $18.7 billion, up from the investment bank’s previous estimate of $11 billion.

In related news surrounding the unfolding of the credit crisis, Fitch Ratings put 205 residential mortgage-backed securities backed by bond insurers, including MBIA and Ambac Financial Group, on review for a downgrade.

The day’s negative news overshadowed U.S. consumer confidence, which rose unexpectedly in December. The Conference Board's index of confidence increased to 88.6, the first gain in five months, from a revised 87.8 the prior month. November's number was the lowest in two years.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are continuing to tumble on weaker-than-expected durable goods orders and lackluster financial firm news, magnifying investors’ already present concerns surrounding a possible economic slowdown.

News of the assassination of former Pakistani Prime Minister Benazir Bhutto only added to the unsettling economic data, shaking the markets.

At 1:36 p.m. ET, the small-cap index was down 15.14 points, or 1.9%, to 781.89. The Dow was down 151.28 points, or 1.12%, to 13,400.41.

Durable goods orders for the month of November edged up a less-than-forecasted 0.1% from October’s 0.4% decline. Economists were forecasting an increase of 2.5%.

In corporate news, Goldman Sachs issued a note late Wednesday speculating that financial juggernaut Citigroup Inc. (NYSE: C) might have to slash its dividend by 40% in light of now greater-than-forecasted write-downs for bad bets on collateralized debt obligations. Goldman is now projecting write-downs in the neighborhood of $18.7 billion, up from the investment bank’s previous estimate of $11 billion.

In related news surrounding the unfolding of the credit crisis, Fitch Ratings put 205 residential mortgage-backed securities backed by bond insurers, including MBIA and Ambac Financial Group, on review for a downgrade.

Document Sciences Corp. (Nasdaq: DOCX) shares are soaring after the maker of content publishing software announced that EMC Corp. (NYSE: EMC) is acquiring the company for $14.75 per share, or about $85 million in cash. The transaction isn’t expected to have a material impact on EMC’s fiscal 2008 results.

"The proposed acquisition of Document Sciences would make EMC the first to offer all of these major capabilities in an all-in-one, integrated suite,” Mark Lewis, EMC’s president, said in a statement. “Building on our recent commitment to deliver end-to-end solutions to solve real-world business problems, Document Sciences provides a tremendous advantage in addressing transaction-intensive applications such as loan origination, new account enrollment, wealth management, brokerage and claims processing. This gives our customers a significant competitive edge to increase customer loyalty and maximize business performance."

The acquisition is expected to be completed during the first three months of calendar 2008.

In morning trading, DOCX shares soaring to a new year high — up 75.83%, or $6.24, at $14.48. Over the last 52 weeks, shares have ranged from $5.80 to $14.48.

The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are declining as news of the assassination of former Pakistani Prime Minister Benazir Bhutto and weak durable-goods data spooks the markets. Negative news overshadowed U.S. consumer confidence, which rose unexpectedly in December.

At 11:10 a.m. ET, the small-cap index was down 12.69 points, or 1.59%, to 784.34. The Dow was down 124.53 points, or 0.92%, to 13,427.16.

The slip in stocks followed on the heels of reports that Pakistani opposition leader Bhutto was assassinated in a suicide bombing while attending a political rally. Crude-oil futures rose on news of Bhutto’s murder, as energy traders are nervous about volatility in the Middle East.

Crude-oil futures are trading about $96 a barrel in morning trading. Energy traders are also anticipating the release of weekly data that are expected to show a decline in U.S. crude inventory.

The Labor Department reported this morning reported that initial jobless claims for the week ended Dec. 22 increased by 349,000, compared with an increase of 346,000 the previous week.

The Russell 2000 (NYSE: IWM) futures are treading flat this morning as traders digest a slew of economic news and dreary corporate news surrounding the credit crunch.

The Labor Department reported this morning reported that initial jobless claims for the week ended Dec. 22 increased by 349,000, compared with an increase of 346,000 the previous week.

Durable goods orders for the month of November edged up a less-than-forecasted 0.1% from October’s 0.4% decline. Economists were forecasting an increase of 2.5%.

The Mortgage Bankers Association released its weekly Mortgage Applications Survey — a survey that tracks mortgage applications volume for new homes purchased and for mortgage refinancing activity — for  the week ending Dec 21. Mortgage applications slid to 603.8 from last week’s 653.8.

In corporate news, Goldman Sachs issued a note late Wednesday speculating that financial juggernaut Citigroup Inc. (NYSE: C) might have to slash its dividend by 40% in light of now greater-than-forecasted write-downs for bad bets on collateralized debt obligations. Goldman is now projecting write-downs in the neighborhood of $18.7 billion, up from the investment bank’s previous estimate of $11 billion.

In related news surrounding the unfolding of the credit crisis, Fitch Ratings put 205 residential mortgage-backed securities backed by bond insurers, including MBIA and Ambac Financial Group, on review for a downgrade.

FARO Technologies, Inc. (Nasdaq: FARO), Document Sciences Corp. (Nasdaq: DOCX) and Buffalo Wild Wings (Nasdaq: BWLD) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Sonic Solutions (Nasdaq: SNIC), China Sunergy Co., Ltd. (Nasdaq: CSUN) and Document Sciences Corp. (Nasdaq: DOCX) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Shares of Document Sciences Corp. (Nasdaq: DOCX) are surging today after the provider of customer communications management solutions reported stellar second quarter results.

For the three months ended June 30, the Carlsbad, Calif.-based company recorded net income of $0.74 million, or $0.14 per share, compared with net income of $0.14 million, or $0.03 per share for the second quarter last year.

The small-cap booked revenues of $11.2 million, compared with revenues of $8.5 million for the second quarter of 2006.

No analyst estimates were available.

Shares of Document Sciences rose 24.3%, or $1.53, to $7.83 in Friday afternoon trading.

Shares of Document Sciences Corp. (Nasdaq: DOCX) are trading in positive territory, following news the Carlsbad, Calif.-based customer communications management company reported record first-quarter revenues, accompanied by a wider loss.

Revenues for the three-months ended March 31 were $8.2 million, an increase of 5% from $7.8 million in first quarter of 2006, Document Sciences said before the opening bell.