Market News

July 12, 2012  Thu 7:23 AM CT

Dividend Evaporates As Shoppers Melt Away

Supervalu is getting pounded today after announcing first quarter earnings of $0.35 a share on revenue of $10.59 billion. Analysts had expected $0.38 and $10.81 billion, respectively. Management also eliminated its dividend and announced price cuts in a desperate attempt to regain customers. SVU is down 29 percent before the bell on my tradeMONSTER platform.

Infosys Cuts Outlook More Than Feared

Infosys Technologies cut its revenue guidance, predicting full-year growth of about 5 percent. That's down from an earlier forecast of 8-10 percent growth. Analysts had expected the move, but it was deeper than feared. INFY falls 8 percent in the premarket.

Merck Climbs on Odanacatib Data

Merck announced that positive results for a test of its odanacatib osteoporosis drug, prompting the company to end the trial early and seek regulatory approval in the next 12 months. MRK rises 4 percent on the news.

Calix Earnings, Revenue Miss Consensus

Calix issued weak preliminary second-quarter results. Earnings were about $0.04 a share, compared with earlier guidance of $0.07 to $0.11. Revenue was just $79 million, far below the previous $93-97 million range. CALX plunges 22 in the premarket.

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