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Aug. 14, 2007, 4:41 p.m. EDT

Countrywide Financial, Wal-Mart, VMware, more

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By MarketWatch

SAN FRANCISCO (MarketWatch) -- Shares of the following companies were among those making notable moves in the stock market Tuesday.

Advancers

Shares of China BAK Battery Inc. rallied 8.3%. The company said it has signed a non-binding letter of intent with Hewlett-Packard Co.. /zigman2/quotes/203461582/composite HPQ +1.09% to work to reach a definitive agreement for BAK to supply lithium ion battery cells to H-P.

GigaMedia Ltd. /zigman2/quotes/204964238/composite GIGM +2.46% shares rallied 10%. The Taiwan-based provider of online entertainment software and services said second-quarter net income fell to $10.08 million, or 17 cents a share, from $11.2 million, or 18 cents a share, in the year-ago period, as revenue rose 88% to $40.1 million. Operating income jumped to $10.09 million from $4.61 million last year.

Icagen Inc. shares jumped 8.5%. The company entered a worldwide collaboration and licensing agreement with Pfizer Inc. /zigman2/quotes/202877789/composite PFE +0.47% for work on compounds that modulate three specific sodium ion channels. Pfizer will provide $38 million in committed funding to Icagen over the first two years, including an initial upfront license fee of $12 million, and research and development funding. In addition, Pfizer will make an equity investment in the company of up to $15 million.

STEC Inc. shares gained 7%. The company reported second-quarter earnings of $1.4 million, or 3 cents a share, down from $4.5 million, or 10 cents a share, during the year-ago period. Excluding certain items, the company earned 5 cents a share vs. 9 cents. The Santa Ana, Calif., computer memory maker said revenue fell to $43.7 million from $47.3 million.

VMware Inc.'s /zigman2/quotes/209864107/composite VMW -1.41% shares soared 75.9% in their stock market debut. See full story.

Decliners

Alexza Pharmaceuticals Inc. tumbled 16.2%. The company reported that its second-quarter net loss narrowed to $10.3 million, or 36 cents a share, from $10.6 million, or 45 cents a share, a year earlier. The Palo Alto, Calif., company reported no revenue, vs. $539,000 in the year-earlier period.

American Railcar Industries Inc. slumped 14.6%. The company reported second-quarter earnings of $11 million, or 52 cents a share, up 2% from $10.8 million, or 51 cents a share, during the year-ago period. The St. Charles, Mo., company said revenue rose to $209 million from $151.6 million.

Shares of Beazer Homes USA Inc. /zigman2/quotes/208808128/composite BZH +0.09% fell 8.2%. Credit ratings agencies raised more concerns about the struggling home builder's future. See full story.

Canadian Solar Inc. /zigman2/quotes/205481506/composite CSIQ +7.20% lost 7.6%. It swung to a second-quarter loss of $2.9 million, or 11 cents a share, from a year-ago profit of $2.5 million, or 16 cents, a year earlier. Excluding stock-based compensation costs, the loss for the latest quarter was 2 cents a share. The Jiangsu, China, solar-module company's revenue more than tripled to $60.4 million from $17.3 million. Analysts expected a loss of 3 cents a share on revenue of $56.1 million, according to Thomson Financial.

Countrywide Financial shares fell 8.1%. The nation's largest mortgage lender said that its total July mortgage fundings rose from year-ago levels, but dropped more than 10% from June as tightening credit cut back business. See full story.

Domtar /zigman2/quotes/208094646/composite UFS +26.75% shares lost 7.5%. It was downgraded to outperform from strong buy at Raymond James.

Fortress Investment Group LLC's shares fell 6.6%. The company said second-quarter loss widened to $55.1 million, or 66 cents a share, from $42.3 million, a year earlier, as revenue dropped 18%. The company didn't report its year-earlier per-share loss. The New York asset management company's revenue dropped to $268.1 million from $328.3 million in the year-ago period. On average, analysts expected per-share earnings of 27 cents on revenue of $275.5 million, according to a poll by Thomson Financial. See full story.

InterDigital Inc. /zigman2/quotes/200883544/composite IDCC -1.08% shares were down 7.3%. The company said it expects third-quarter recurring revenue for patent licensing and technology solutions in the range of about $53.5 million to $54.5 million. The outlook doesn't include any potential impact from new agreements that may be signed during the third quarter, or additional royalties identified during audits, the King of Prussia, Pa.-based maker of wireless technologies and products for voice and data communications said. Analysts polled by Thomson Financial are currently forecasting total revenue of $115 million for the quarter.

Jamba Inc.'s shares plunged 30%. The company said fiscal second-quarter revenue rose 14% to $89.6 million from $78.5 million in the year-ago period. Same-store sales for the San Francisco operator of the Jamba Juice chain fell 3.3% in the period ended July 24.

Shares of Luminent Mortgage Capital Inc. slumped 56.1%. The company said in a regulatory filing late Monday that eight of its creditors have declared defaults under lending agreements.

Netease.com Inc.'s /zigman2/quotes/201683625/composite NTES -3.22% shares lost 8%. The company said second-quarter net income fell to $41.1 million from $41.3 million a year earlier. The Beijing online services company's revenue fell 4% to $72.9 million from $75.6 million.

Orbcomm Inc. /zigman2/quotes/206057365/composite ORBC +3.49% shares tumbled 33.4%. The Fort Lee, N.J.-based satellite data communications company reported a second-quarter net loss applicable to common shareholders of $1.3 million, or 3 cents a share, vs. a net loss of $4.81 million, or 84 cents a share, in the year-ago period. Revenue for the second quarter of 2007 was $6.6 million, up 5.8% from the same period last year. Orbcomm cut its 2007 revenue forecast to a range of $28 million to $31 million. Analysts polled by Thomson Financial are expecting, on average, revenue of $35.1 million.

Orbitz Worldwide Inc. shares fell 14.6%. It reported its second-quarter net loss narrowed to $32 million from $116 million during the year-ago period. The Chicago online travel company said revenue rose to $229 million from $207 million.

Physicians Formula Holdings Inc. shares sank 32.9%. The Azusa, Calif.-based cosmetics company posted a second-quarter net loss of $523,000, or 4 cents a share, vs. a year-ago net profit of $1.63 million, or 14 cents a share. Excluding certain items, the company reported a profit of a penny a share compared with 14 cents a share last year. Net sales fell 4.2% to $22.1 million from $23.1 million. The company also cut its outlook for the remainder of 2007.

Thornburg Mortgage shares plunged 46.4%. It was downgraded by Jefferies & Co., RBC Capital Markets, Friedman Billings Ramsey and Credit Suisse. See full story.

Ultrapetrol (Bahamas) Ltd. /zigman2/quotes/213512129/composite ULTR +0.06% shares lost 10%. It reported a second-quarter net profit of $943,000, or 3 cents a share, down from $6.92 million, or 44 cents a share, in the year-ago period. Ultrapetrol's second-quarter included an unrealized non-cash mark-to-market net loss on FFA hedges of $3.1 million, or 10 cents a share, and a deferred income tax charge of $2.4 million, or 8 cents a share. The Bahamas-based industrial transportation company said revenue in the period ended June 30 rose to $55.4 million, from $46.9 million last year.

Wal-Mart Stores Inc. /zigman2/quotes/207374728/composite WMT +0.48% shares fell 5.1%. It said that worldwide economic woes pressured the retailer's second-quarter results and will continue to do so for the rest of the year, forcing the company to cut its fiscal-year forecast. See full story.

/zigman2/quotes/203461582/composite
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$ 18.47
+0.20 +1.09%
Volume: 6.91M
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9.07
Dividend Yield
3.82%
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Rev. per Employee
$1.07M
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$ 2.92
+0.07 +2.46%
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N/A
Dividend Yield
N/A
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Rev. per Employee
$49,731
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/zigman2/quotes/202877789/composite
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1.58%
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$ 4.15
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N/A
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N/A
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$323.50 million
Rev. per Employee
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/zigman2/quotes/213512129/composite
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/zigman2/quotes/207374728/composite
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1.66%
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Rev. per Employee
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