Cooper Tire & Rubber Co. (CTB: chart) said that its fourth-quarter loss widened on hefty restructuring charges and a write-down of the value of assets associated with acquisitions for company’s North American tire segment. Sales rose 29% in the quarter and its stock jumped more than 10%. Cooper posted a loss of $27.6 million, or 45 cents per share compared with a loss of $6.9 million, or 11 cents per share, for the same quarter in 2005. Shares climbed 16.5%.

DealerTrack Holdings (TRAK: chart), auto retail software company, said its fourth-quarter profit ballooned as sales grew. The company earned $5.7 million, or 14 cents per share applicable to common stockholders, up from $682,000, or 2 cents per share, during the same period a year earlier. Net income includes $1.4 million from the purchase price adjustment of an acquisition. Sales jumped 37% to $45.7 million from $33.4 million in the same period a year earlier. Shares went up 13.9%.

EchoStar Communications (DISH: chart), said fourth-quarter net income rose to $153 million, or 35 cents a basic share, from $133 million, or 30 cents a basic share, with revenue up 17% to $2.58 billion. The operator of the DISH Network added 350,000 net new subscribers during the quarter, giving it a total of 13.1 million subscribers. Shares climbed 5.9%.

Longs Drug Stores (LDG: chart) said an asset impairment charge drove fourth-quarter profit down 24% from a year-ago period that included a gain on the sale of a distribution facility. Net income declined to $26.9 million, or 71 cents per share, from $35.4 million, or 93 cents per share, in the year-ago period. The latest quarter included a charge of $3.8 million related to the planned disposition of 31 stores, and the year-ago quarter included a gain of $6.6 million on the sale of its Lathrop distribution facility. Revenue rose 8% to $1.34 billion from $1.24 billion last year. Retail drug store sales grew 3.9% and same-store sales increased 2.1%. Pharmacy same-store sales rose 3.7% and front-end same-store sales increased 0.8% compared with the year-ago period. Shares climbed 8.9%.

MDI Inc. (MDII: chart), which makes security technology, said it received a $25.3 million initial order to provide security company Stratis Authority with products for its school safety program. Under the terms of the deal, MDI''s Global Systems Solutions unit will deliver security packages, including video surveillance, unified access control, training and maintenance, to multiple school districts in the Southeast. Shares jumped 27.2%.

PRG-Schultz International (PRGX: chart), recovery audit firm, had a net loss of $21.1 million on $266.1 million in revenue, compared with a net loss of $207.7 million on $292.2 million in revenue in 2005. Loss per share was $3.32, compared with a loss per share of $33.50 in 2005. Shares went up 14.2%.

Smith Micro Software Inc. (SMSI: chart) shares rose 12.1% after the software company posted better-than-expected fourth-quarter results. The company earned $3.6 million, or 14 cents a share, on revenue of $17.2 million. Excluding items, the company earned $7 million, or 26 cents a share. Analysts expected earnings of 15 cents a share on revenue of $16 million. During the year-earlier quarter, the company posted adjusted earnings of $2.6 million, or 11 cents a share, on revenue of $8 million.

Stats Chippac Ltd. (STTS: chart) shares surged 23%. Late Wednesday night, Temasek Holdings Ltd. said it would launch a cash offer, through its subsidiary Singapore Technologies Semiconductors Ltd., for the remaining shares in Stats Chippac that it does not already own. Temasek currently holds a 35.6% stake in the semiconductor test company. Temasek, Singapore''s state-owned investment company, is offering S$1.75 per share and S$17.50 per American Depositary share in cash. If the offer results in Temasek owning more than 90% of Stats Chippac, Temasek will raise the offer price to S$1.88 per share and S$18.80 per ADS.

24/7 Real Media Inc. (TFSM: chart) tumbled 10% after the digital marketing company posted in-line fourth-quarter earnings but warned that first-quarter results would be lower than expected. The company reported adjusted earnings of $6.5 million, or 12 cents a share, on revenue of $60 million. Analysts expected earnings of 12 cents a share on revenue of $57.6 million. During the year-earlier quarter, the company earned $4 million, or 8 cents a share, on revenue of $41.7 million.

Ciena (CIEN: chart) slumped 11% after the company posted first-quarter earnings that were short of expectations. For the period, the company reported an adjusted profit of $20.1 million, or 22 cents a share, on revenue of $165.1 million. During the year-earlier period, the company posted a loss of $8.7 million, or 11 cents a share, on revenue of $120.4 million.

Input/Output Inc. (IO: chart), which provides seismic services for the oil and gas industry, reported fourth-quarter net earnings of $13.7 million, or 15 cents a share, compared with $16.1 million, or 17 cents a share, in the year-ago period. Revenue climbed to $166.2 million versus $131 million in the same period a year earlier. Shares fell 6.7%.

[R]1:00PM European markets finished lower. Deutsche Telekom and Aviva weighed.[/R]
European stocks closed in the negative for a third straight session, extending recent losses amid growing U.S. inflation concerns and the unwinding of the yen carry trade. The trade involves investors borrowing yen in order to invest in regions with higher interest rates such as the U.S. Declines in the shares of Deutsche Telekom and U.K. insurer Aviva also generated negative sentiment. Germany''s Deutsche Telekom led the telecoms sector lower, falling 3.8% after it swung to a Q4 loss. Shares in France Telecom fell 1.8%, Telecom lost 2.4% and KPN tumbled 5.4%. In the defense sector, French EADS fell 5%. In the U.K., shares of insurer Aviva dropped 4.7% after it reported disappointing operating profit. Other insurers also declined, including Prudential which lost 2.2% and Royal & Sun Alliance, falling 2.1%. Elsewhere, PartyGaming shares slid 6.2% as its profit heavily dropped. On a more positive note, British American Tobacco was one of the biggest gainers on the main U.K. index. Company’s shares rose 1.6% after it said it will raise its dividend by 19% and increase its share buyback by 50%. Royal Bank of Scotland climbed 3%. The U.K.''s FTSE 100 dropped 0.9% at 6116.00. The index is down 5% since Monday''s close. The French CAC 40 slipped 1.1% at 5,458.40 and the German DAX 30 lost 1.1% at 6,640.24.


[R]11:30AM Strong manufacturing data lifted stocks off earlier lows.[/R]
Wall Street rebounded after a report indicated expanded manufacturing activity in February against expectations for further contraction in the sector. The ISM''s purchasing managers’ index rose to 52.3%, up from 49.3% in January and above the forecast reading of 50%. The Dow was helped by gains for several major blue-chip stocks, including Boeing (BA: chart), Coca Cola (KO: chart) and Merck & Co. (MRK: chart).

Biotechnology stocks continued to post losses. Biotechnology and pharmaceutical stocks continued to post losses. Amgen (AMGN: chart) was a notable decliner, falling 3.3% on SEC probe. U.S. shares of AstraZeneca (AZN: chart) dropped 1.9% and Sanofi-Aventis shed 1.7%. Bristol-Myers Squibb (BMY: chart) was a bright spot, rising 1% after UBS upgraded the stock from neutral to buy, citing valuation and a possible takeover bid. Wyeth (WYE: chart) shares also gained nearly 1% after the drug maker said Q1 earnings will come above the analyst estimate. Shares of Hana Biosciences (HNAB: chart) jumped 2.8% on brokerage upgrade.

Among other stocks in focus, Constellation Brands (STZ: chart), alcoholic beverage producer, dropped 14.4% after the company forecast full-year 2008 earnings well below analyst estimates. Shares of Ciena (CIEN: chart) dropped 8% after the communications equipment company reported weaker-than-expected Q1 earnings and issued disappointing Q2 guidance. On the side of the gainers, Hyperion Solutions (HYSL: chart) soared 20% after Oracle (ORCL: chart) agreed to acquire the business software developer for $3.3 billion. The Dow Jones industrial average was down 38.13 points, or 0.30 percent, at 12,230.50. The Standard & Poor''s 500 Index was down 2.87 points, or 0.20 percent, at 1,403.95. The Nasdaq Composite Index was down 8.3 points, or 0.34 percent at 2,407.85.

[R]The ISM’s index rose 52.3 in January.[/R]
Thursday morning, the Institute for Supply Management released its report on activity in the manufacturing sector in the month of February. The report showed that activity in the sector expanded after contracting in the previous month. The ISM said that its purchasing managers index rose to 52.3 in February from 49.3 in January, with a reading of 50 or above indicating growth in the sector. Economists had been expecting a more modest increase to a reading of 50.0. The reports showed an acceleration in the pace of new orders growth, with the new orders index rising to 54.9 in February from 50.3 in January. Additionally, production and employment expanded after contracting in the pervious month, as the production index rose to 54.1 in February from 49.6 in January while the employment index rose to 51.5 from 49.5 in the previous month. At the same time, the report also showed a faster pace of price growth, with the prices index rising to 59.0 in February from 53.0 in January.


[R]11:30AM Wall Street resumed the steep downward move on inflation jitters.[/R]
U.S. stocks steeply dropped at opening, as losses in overseas markets and resumed inflation jitters amid the latest economic data led to another heavy sell-off. The Dow Jones industrials slipped 200 points in the opening minutes of trading, with 30 of its components in the negative. Economically sensitive stocks were leading losers in the blue-chip average. Alcoa (AA: chart) fell 3%, General Motors (GM: chart) slipped 2.8%, and Caterpillar (CAT: chart) lost 2.3%. In addition, rumors that a big lender was in distress contributed to the general downward move. Amid concerns over the health of the mortgage lending market, SunTrust Banks (STI: chart) cut its Q4 earnings outlook to $1.39 a share, from the previously reported $1.46 a share. Company’s shares lost 1.1%.

However, a stronger-than-expected ISM''s manufacturing index for February helped trim losses. The Institute for Supply Management''s manufacturing index rose to 52.3, up from 49.3 in January and above the forecast reading of 50. Meanwhile, individual stocks advanced, helping to limit the decline. Motorola (MOT: chart) rose 2.7% after news that investor Carl Icahn raised his stake in the company. Oracle Corp. (ORCL: chart) gained 3% after it agreed to buy Hyperion Solutions (HYSL: chart) in a deal worth $3.3 billion. Shares in Hyperion surged 20%.