ValueVision Media, Inc., a multichannel electronic retailer operating as ShopNBC (www.shopnbc.com), today announced operating results for its fiscal 2012 first quarter (Q1’12) ended April 28, 2012. The Company will host an investor conference call/webcast today at 11am ET, details below.

ValueVision reported Q1’12 net sales of $136.5 million, a 4.9% decrease versus Q1’11. Internet net sales decreased 2.8% while penetration increased 100 basis points to 45.9%. Combined sales in Jewelry & Watches, Health & Beauty, Home, and Fashion & Accessories grew by 12% in Q1’12 over Q1’11. As anticipated, sales gains in these categories were offset by Consumer Electronics sales which declined 76% in the period. The average price point in Q1’12 decreased 18.8% to $95 due to a higher concentration of product sales in Beauty, Fashion and Home combined with the decline in Consumer Electronics. Net units shipped increased 17.8% in the quarter vs. last year’s same period.

Gross profit in Q1’12 increased 20 bps to 37.4%. This was driven by a favorable product mix, partially offset by increased shipping and handling promotions. Gross margin dollars decreased 4.4% vs. the prior year, reflecting lower sales. Adjusted EBITDA in Q1’12 was negative $1.0 million compared to positive $3.1 million in the same period last year.

ValueVision CEO Keith Stewart commented, “While we are disappointed in our Consumer Electronics performance, we are encouraged by the improved results from our other product categories. We do not foresee a significant improvement in Consumer Electronics performance in the upcoming quarters. However, in the final three quarters of last year, our Consumer Electronics sales mix moderated, making the comparative performance of this category less impactful to overall results going forward. Although we will continue our efforts to improve Consumer Electronics performance, we are focused on further broadening our other higher margin businesses while investing in new businesses to grow our product mix and customer base.”

Added Mr. Stewart, “We are pleased with our strong net shipped unit growth in the quarter, reflecting lower average price points and broader customer reach. We were also able to maintain healthy gross margin levels in Q1 despite an increase in shipping and other promotional initiatives. We continue to improve our performance across a number of areas, though the Company’s turnaround is still a work in process. We remain focused on increasing top line sales through solid merchandise execution and customer experience initiatives. These efforts aim to further improve retention rates and ultimately drive higher sales per customer. With an experienced multichannel team in place, I remain confident in our ability to execute on those growth initiatives.”

ValueVision EVP & CFO William McGrath stated, “We made solid progress on the balance sheet in Q1’12. As of April 28, 2012, our cash position, including restricted cash, was $45 million compared to $35 million at January 28, 2012. The increase in cash reflects the seasonal timing of cash receipts from fourth quarter receivables as well as disciplined management of other working capital components within the quarter.”

In the quarter, the Company secured a $40 million revolving credit facility with PNC Bank, National Association. The facility bears interest at a rate of LIBOR plus 3%. During the first quarter, ValueVision utilized the new credit facility to retire its 11%, $25 million term loan and paid a $12.5 million deferred obligation to a TV distribution provider. These actions improved ValueVision’s financial liquidity and reduced future annual interest expense. As a result of the early retirement of the $25 million term loan, ValueVision incurred a pre-payment penalty of $500,000. The Company also recorded a non-cash interest charge of $2.4 million related to the write off of previously capitalized debt financing costs associated with the $25 million term loan.

Added Mr. McGrath, “Looking ahead, the impact of Consumer Electronics on our quarterly comparisons should diminish for the balance of 2012 and thereafter. Moving into next year, the recent renewal of our largest TV distribution relationship will also benefit performance by providing $15 million in annual cost savings starting January 2013.” Read more

Rosetta Genomics, Ltd. is a development stage company that seeks to develop and commercialize new diagnostic tests based on a recently discovered group of genes known as microRNAs.

Seven Arts Pictures plc (NASDAQ:SAPX) traded as high as $.089 during Tuesday’s trading session and last traded at the high for a gain of 25.35% from Monday’s close… SAPX shares have traded as high as $5.75 over the past 52 weeks, which is 98.45% off that high at last traded stock price.

Seven Arts Pictures PLC is engaged in the development, financing, production and licensing of theatrical motion pictures for exhibition in domestic and international theatrical markets, and for worldwide release in other forms of media.

FriendFinder Networks Inc (NASDAQ:FFN) traded as high as $1.35 during Tuesday’s trading session and last traded at $1.30 for a gain of 21.5% from Monday’s close… FFN shares have traded as high as $7.65 over the past 52 weeks, which is 83.01% off that high at last traded stock price.

FriendFinder Networks Inc. is an Internet-based social networking and technology company operating several of the most heavily visited websites in the world, including AdultFriendFinder.com, Amigos.com, AsiaFriendFinder.com, Cams.com, FriendFinder.com, BigChurch.com and SeniorFriendFinder.com. FriendFinder Networks Inc. also produces and distributes original pictorial and video content and engages in brand licensing.

Arena Pharmaceuticals, Inc. and Eisai Inc. announced today that the US Food and Drug Administration (FDA) Endocrinologic and Metabolic Drugs Advisory Committee voted 18 to 4, with one abstention, that the available data demonstrate that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals. Lorcaserin is an investigational drug candidate intended for weight management, including weight loss and maintenance of weight loss, in patients who are obese (BMI greater than or equal to 30) or patients who are overweight (BMI greater than or equal to 27) and have at least one weight-related co-morbid condition.

“The advisory committee’s positive vote supports our belief in lorcaserin as a potential new treatment option for the medical management of overweight and obesity,” said Jack Lief, Arena’s President and Chief Executive Officer. “We will continue to work with the FDA as the agency completes its review of the lorcaserin new drug application.”

Although advisory committees provide recommendations to the FDA, the agency makes the final decisions. The Prescription Drug User Fee Act (PDUFA) date for the lorcaserin New Drug Application (NDA) resubmission is June 27, 2012, which is the target date for the agency to complete its review.

“Eisai’s commitment to advancing innovative therapies in areas of medical need continues to be a cornerstone of our corporate mission,” stated Lonnel Coats, President and Chief Executive Officer, Eisai Inc. “We look forward to the outcome of the lorcaserin new drug application discussions with the FDA.”

Arena Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, has reported a net loss allocable to common stockholders of $29.40 million, or $0.18 loss per diluted share, for the first quarter ended March 31, 2012, compared to a net loss allocable to common stockholders of $42.16 million, or $0.35 loss per diluted share, for the first quarter ended March 31, 2011.

Total revenues for the first quarter ended March 31, 2012 were $2.19 million, compared to $3.92 million, for the first quarter ended March 31, 2011.

Total assets as of March 31, 2012 were $187.8 million , compared to $157.13 million, as of December 31, 2011.

“Lorcaserin has the potential to provide a new treatment option for the medical management of obesity,” said Jack Lief, Arena’s President and CEO. “We are focused on preparing for the May 10  advisory committee meeting for lorcaserin, and look forward to discussing the outcome of the meeting and providing a corporate update following the meeting.”

“Folks, we’re getting ready for one massive economic collapse,” Hagmann told TruNewshost Rick Wiles.

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“We have problems . . . The federal government is preparing for civil uprising,” he added, “so every time you hear about troop movements, every time you hear about movements of military equipment, the militarization of the police, the buying of the ammunition, all of this is . . . they (DHS) are preparing for a massive uprising.”

Hagmann goes on to say that his sources tell him the concerns of the DHS stem from a collapse of the U.S. dollar and the hyperinflation a collapse in the value of the world’s primary reserve currency implies to a nation of 311 million Americans, who, for the significant portion of the population, is armed.

Uprisings in Greece is, indeed, a problem, but an uprising of armed Americans becomes a matter of serious national security, a point addressed in a recent report by the Pentagon and highlighted as a vulnerability and threat to the U.S. during war-game exercises at the Department of Defense last year, according to one of the DoD’s war-game participants, Jim Rickards, author of Currency Wars: The Making of the Next Global Crisis.

Through his sources, Hagmann confirmed Rickards’ ongoing thesis of a fear of a U.S. dollar collapse at the hands of the Chinese (U.S. treasury bond holders of approximately $1 trillion) and, possibly, the Russians (threatening to launch a gold-backed ruble as an attractive alternative to the U.S. dollar) in retaliation for aggressive U.S. foreign policy initiatives against China’s and Russia’s strategic allies Iran and Syria.

“The one source that we have I’ve known since 1979,” Hagmann continued.  “He started out as a patrol officer and currently he is now working for a federal agency under the umbrella of the Department of Homeland Security; he’s in a position to know what policies are being initiated, what policies are being planned at this point, and he’s telling us right now—look, what you’re seeing is just the tip of the iceberg.  We are preparing, we, meaning the government, we are preparing for a massive civil war in this country.”

“There’s no hyperbole here,” he added, echoing Trends Research Institute’s Founder Gerald Celente’s forecast of last year.  Celente expects a collapse of the U.S. dollar and riots in America some time this year.

Since Celente’s ‘Civil War’ prediction of last year, executive orders NDAA and National Defense Resources Preparedness were signed into law by President Obama, which are both politically damaging actions taken by a sitting president.

And most recently, requests made by the DHS for the procurement of 450 million rounds of hollow-point ammunition only fuels speculation of an upcoming tragic event expected on American soil.

These major events, as shocking to the American people as they are, have taken place during an election year.

Escalating preparatory activities by the executive branch and DHS throughout the last decade—from the Patriot Act, to countless executive orders drafted to suspend (or strip) American civil liberties  “are just the beginning” of the nightmare to come, Hagmann said.

He added, “It’s going to get so much worse toward the election, and I’m not even sure we’re going to have an election in this country.  It’s going to be that bad, and this, as well, is coming from my sources.  But one source in particular said, ‘look, you don’t understand how bad it is.’  This stuff is real; these people, the Department of Homeland Security (DHS), they are ready to fight the American people.”

TruNews‘ Wiles asked Hagmann: who does the DHS expect to fight, in particular?  Another North versus South, the Yankees against the Confederates?  Hagmann stated the situation is far worse than a struggle between any two factions within the U.S.; it’s an anticipated nationwide emergency event centered on the nation’s currency.

“What they [DHS] are expecting, and again, this is according to my sources, what they’re expecting is the un-sustainability of the American dollar,” Hagmann said.  “And we know for a fact that we can no longer service our debt.  There’s going to be a period of hyperinflation . . . the dollar will be worthless . . . The economic collapse will be so severe, people won’t be ready for this.”

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I’ll be posting all the latest news there.

—

Source: Full TruNews interview, May 2, 2012.

“The Dow was up 74.39 points at 13,001.56. The S&P 500 rose 5.03 to 1,371.97. The Nasdaq fell 8.85 to 2,961.60.

AT&T Earnings Jump 5.2%, Ahead of Estimates

AT&T Inc. (NYSE: T), the largest seller of iPhones in the U.S, rose 3.6% to $31.72 after the company posted its first quarter results. Earnings came in at $3.58 billion, or $0.60 a share, an increase of 5.2$ from $3.41 billion, or $0.57 a share in the same quarter of 2011. Analysts polled by S&P Capital IQ expected earnings of $0.57 per share. The Dallas-based telecom company said it activated 4.3 million new iPhones and added 187,000 new customers, adding that fewer people canceled their service in the quarter. AT&T led the Dow industrials’ gains.

AT&T offers wireless communications, local exchange services and long-distance services. It operates in four segments: Wireless, Wireline, Advertising Solutions and Other. Its Wireless subsidiaries provide both wireless voice and data communications services across the United States, and through roaming agreements, in a substantial number of foreign countries. Wireline subsidiaries provide primarily landline voice and data communication services, AT&T U-verse TV, high-speed broadband and voice services (U-verse) and managed networking to business customers. Advertising solutions subsidiaries publish Yellow and White Pages directories and sell directory advertising and Internet-based advertising and local search. AT&T’s Other segment includes customer information services (operator services) and corporate and other operations.

3M Co. Posts Stronger-than-Expected Q1 Profift, Boosts Profit View

3M Co. (NYSE: MMM), another Dow industrials component, jumped 1.6% to $88.79 today after the diversified products maker reported first-quarter results that topped expectations, boosted by strong sales to auto and airplane makers and growth in Latin America and Canada. Net income jumped 4% to $1.13 billion, or $1.59 a share, on revenue of $7.49 billion. Excluding charges for a voluntary early retirement program, the company would have earned $1.63 a share. The company topped analysts’ earnings view of $1.48 a share and matched revenue expectations.

Looking forward, the company expects profit to be in the range of $6.35 to $6.50 a share for this year, raising the low end of its previous profit guidance.

3M, based in St. Paul, MN, operates as a diversified technology company worldwide. The company maintains its resence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses. 3M operates in six business segments: Industrial and Transportation; Health Care; Consumer and Office; Safety, Security and Protection Services; Display and Graphics, and Electro and Communications. The company’s products are sold through distribution channels, including directly to users and through wholesalers, retailers, jobbers, distributors and dealers in a number of countries worldwide.

United Technologies Reports Improved Q1 Earnings

Industrial conglomerate United Technologies Corp. (UTC) (NYSE: UTX) reported net income of $1.2 billion for its first quarter, an increase of 22% from last year, while earnings per share rose 24% to $1.31. Analysts expected earnings of $1.20 a share, according to a poll by Thomson Reuters. CEO Louis Chenevert cited stronger momentum in its U.S. residential HVAC business at the end of the quarter. The company’s sales, however, dropped by 2%, which can be attributed to divestitures and a foreign currency issue. UTX inched up 0.1% to $79.85 on volume of 3.73 million shares.

Basedin Hartford, CT, UTC provides high technology products and services to the building systems and aerospace industries worldwide. The Company operates in six segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky.

Apple Lower Ahead of Earnings

Apple Inc. (NASDAQ: AAPL), Nasdaq’s biggest component, put a drag on the index today, as it traded lower ahead of its first-quarter earnings report today. The stock dropped 2% to close at $560.28. After the closing bell, the tech giant reported another record quarterly profit, as expected by Wall Street analysts. Shares traded higher in late trading.

Apple, along with its subsidiaries is engaged in designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications.

Among other stocks making notable moves:

Juniper Networks Inc. (NYSE: JNPR) rose 7.2% to $21.63 ahead of its first-quarter results. The networking gear company reported profit of $16.27 million, or $0.03 a share, lower than last year’s profit of $129.8 million, or $0.24 a share. On adjusted basis, the company earned $0.16 a share – ahead of analysts’ expectations of $0.13 a share. Revenue came in at $1.03 billion, down from the previous year’s $1.10 billion, but ahead of analysts’ forecast of $980.8 million.

Juniper Networks designs, develops, and sells products and services that together provide its customers with network infrastructure. The company has two segments: Infrastructure, which primarily offers routing and switching products that are used to control and direct network traffic from the core, through the edge, aggregation, and the customer premise equipment level; Service Layer Technologies (SLT), which offers solutions, from protecting the users, applications and data on the network itself to providing network services across a distributed infrastructure.

Regions Financial Corp. (Regions) (NYSE: RF) jumped 5.9% to $6.45 after the bank posted first-quarter earnings of $0.14 a share, topping estimates by $0.07. The result can be attributed to an improvement in the bank’s credit profile. According to the report, the company released $215 million in loan loss reserves, compared to $135 million in the fourth quarter.

Regions operate throughout the South, Midwest and Texas. The company provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing. Regions conduct its banking operations through Regions Bank, a commercial bank. As of December 31, 2011, Regions operated approximately 2,100 automated teller machines (ATMs) and 1,726 banking offices in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. It provides additional financial services through its subsidiaries, which includes Morgan Keegan & Company, Inc. and Regions Insurance Group Inc.

The Dow Jones industrial average was down 102.09 points, or 0.78%, at 12,927.17. The Standard & Poor’s 500 index was down 11.59 points, or 0.84%, at 1,366.94. The Nasdaq was down 30.00 points, or 1.00%, at 2,970.45.

Some notable movers today include Wal-Mart Stores Inc. (WMT), Netflix Inc. (NFLX), Otelco Inc. (OTT), Ardea Biosciences Inc. (RDEA), Dehaier Medical Systems Ltd. (DHRM), Brinker International Inc. (EAT)

Wal-Mart Stores Inc. (NYSE: WMT) shares slid nearly 5% to $59.54, making the stock today’s worst-performing Dow component, amid report that the retail giant thwarted an investigation into bribery by executives at its Mexican unit. According to a Reuters report, the company stated that it had disclosed its probe to the U.S. Dept. of Justice and the Securities and Exchange Commission, and had taken steps at the Mexican unit to boost internal controls to make sure it was FCPA compliant.

Wal-Mart Stores operates retail stores in various formats around globally. During the fiscal year ended January 31, 2012 (fiscal 2012), its Walmart U.S. segment accounted for approximately 60% of its net sales and operates retail stores in various formats in all 50 states in the United States and Puerto Rico, as well as Walmart’s online retail operations, walmart.com. Its Walmart International segment consists of retail operations in 26 countries. Its Sam’s Club segment consists of membership warehouse clubs operated in 47 states in the United States and Puerto Rico, as well as the segment’s online retail operations, samsclub.com. During 2012, Sam’s Club accounted for approximately 12% of its net sales.

Video rental company Netflix Inc. (NASDAQ: NFLX) reported a loss of $0.08 a share for its first quarter — better than analysts’ loss estimates of $0.27 a share. Revenue came in at $870 million, an increase of 21% from the comparable quarter of last year. The company, however, disappointed with its subscriber growth guidance in the second quarter, expecting its net domestic streaming additions for the quarter to be lower than last year. The stock lost 4.0% to $101.84 on strong volume of 11.92 million shares.

Headquartered in Los Gatos, CA, Netflix provides Internet subscription services for TV shows and movies in the United States and internationally. The company offers its subscribers to watch unlimited TV shows and movies streamed over the Internet to their TVs, computers, and mobile devices. It also provides standard definition DVDs and Blu-ray discs to its subscribers.

Telecom services provider Otelco Inc. (NASDAQ: OTT) traded lower today following news that Time Warner Cable will not renew a contract to provide network connections. The contract represented about 11.7% of Otelco’s consolidated revenue for 2011. It expires on December 31, 2012 and includes a transition period into 2013. Following the news, the company said dividends on the common stock of its income deposit securities will be suspended immediately. The stock dropped 44.6% to $6.66 on above-average volume of 2.02 million shares.

Otelco provides a range of telecommunications services on a retail and wholesale basis. These services include local and long distance calling; network access to and from its customers; data transport; digital high-speed and dial-up Internet access; cable, satellite and Internet protocol television; wireless, and other telephone related services.

On the upside, shares of biotechnology company Ardea Biosciences Inc. (NASDAQ: RDEA) climbed as high as $31.64, a fresh 52-week high, following news the company agreed to be acquired by the U.K.’s AstraZeneca for $1.26 billion. The price breaks down to $32 a share, a premium on Ardea’s stock of 50% based on the one month volume-weighted average price and 54% based on the closing price on April 20. The stock surged 51.7% to $31.62 on strong volume of 28.46 million shares.

Based in San Diego, CA, Ardea Bioscience focuses on the discovery and development of small-molecule therapeutics for the treatment of gout and cancer in the United States. Its product candidates include Lesinurad (RDEA594), an inhibitor of the URAT1 kidney transporter, which is in Phase III clinical trials for the treatment of gout; BAY 86-9766 (RDEA119), a mitogen-activated ERK kinase (MEK) inhibitor that is in Phase II clinical trials for the treatment of cancer; and RDEA3170, an URAT1 kidney transporter inhibitor, which is in Phase I clinical trials for the treatment of gout. The company has a development and commercialization license agreement with Bayer Healthcare AG to develop and commercialize MEK inhibitors for various indications

Medical devices maker Dehaier Medical Systems Ltd. (NASDAQ: DHRM) today said it has entered into a strategic cooperation deal with Timesco of London Ltd., Under the three-year deal, Dehaier will be the exclusive distributor in mainland China for Timesco’s entire Optima series of laryngoscopes. The stock spiked 37.2% to $3.06 on above-average volume of over 482K shares.

Beijing-based Dehaier, through its subsidiaries, designs, develops, and markets respiratory and oxygen homecare products, medical devices, and technical service products in the People?s Republic of China. The company also imports and distributes products designed and manufactured by other companies. It offers various medical devices, including C-arm X-ray systems, anesthesia machines, patient monitors, and general hospital products; respiratory and oxygen homecare products, such as oxygen concentrators, CPAP devices, portable sleep diagnostics, and Rhinitis hyperthermia devices; and air compressors and ventilator trolleys. The company sells its products primarily to distributors, as well as directly to hospitals, clinics, and government health bureaus.

Brinker International Inc. (NYSE: EAT) shares climbed almost 11% today after the restaurant operator posted larger-than-expected profit for its fiscal third-quarter, attributable to higher menu prices and more diners atits restaurants. The company’s adjusted earnings came in at $0.60 a share, $0.04 ahead of analysts’ estimates, according to a poll by FactSet Research. The stock added $2.98 to close at $30.88 on volume of over 7 million shares.

Brinker International, based in Dallas, TX, owns, develops, operates, and franchises various restaurant brands primarily in the United States. It operates the restaurants under the Chili?s Grill & Bar and Maggiano’s Little Italy brand names. As of August 29, 2011, the company owned, operated, and franchised 1,534 Chili?s Grill & Bar restaurants and 45 Maggiano?s Little Italy restaurants in 50 states, and Washington, D.C.; and held a minority investment in Romano?s Macaroni Grill.

Microsoft (MSFT), McDonald’s (MCD) and General Electric (GE) boosted investor sentiments after reporting strong earnings for their latest quarter.

Shares in Microsoft (NASDAQ: MSFT) rose today after the software giant late Thursday posted earning of $5.11 billion, or $0.60 a share, on $17.41 billion in revenue for its fiscal third quarter. Analysts were looking for earnings of $0.58 a share on $17.16 billion in revenue. Results were down from last year, but it should be noted that the company recorded a tax benefit of $461 million, or $0.05 a share, related to a settlement with the Internal Revenue Service. MSFT gained 4.6% to $32.42 on volume of over 106 million shares.

Headquartered in Redmond, WA, Microsoft develops, licenses and supports software products and services. It designs and sells hardware, and delivers online advertising to the customers. It has five segments: Windows & Windows Live Division (Windows Division), Server and Tools, Online Services Division (OSD), Microsoft Business Division (MBD), and Entertainment and Devices Division (EDD).

Fast-food giant McDonald’s Corp. (NYSE: MCD) reported earnings of $1.27 billion, or $1.23 a share, in line with analysts’ expectations. Revenue came in at $6.55 billion, topping last year’s $6.11 billion. Helped by gains from all region, the company’s global sales increased 7.3% at stores open at least 13 months — a key metric because it excludes the impact of newly opened store. MCD inched up 0.7% to $95.94 on volume of over 11 million shares.

McDonald’s franchises and operates McDonald’s restaurants in the global restaurant industry. These restaurants serve a menu at various price points providing value in 119 countries globally. As of December 31, 2011, of the 33,510 restaurants in 119 countries 27,075 were franchised or licensed (including 19,527 franchised to conventional franchisees, 3,929 licensed to developmental licensees and 3,619 licensed to foreign affiliates (affiliates)-primarily Japan) and 6,435 were operated by the Company.

General Electric (NYSE: GE) reported net income of $3.03 billion, or $0.29 a share, for its first quarter. Excluding charges, earning would have been $0.34 cents, a penny ahead of Wall Street estimates. Revenue declined 8% to $35.2 billion, but still ahead of analysts’ expectations of $34.8 billion. GE gained 1.2% to $19.36 on above-average volume of 67.93 million shares.

General Electric is a diversified technology and financial services corporation. Its products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. It serves customers in more than 100 countries. On January 28, 2011, it held a 49% interest in a media entity that includes the NBC Universal businesses. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital

Among other stocks making notable moves:

Proofpoint Inc. (NASDAQ: PFPT) shares gained 8.3% to $14.08 after the data-management company debuted as a public company. The company’s initial public offering priced at $13 a share.

E-Trade Financial Corp. (NASDAQ: ETFC) reported net profit of $62.6 million, or $0.22 a share, for its first quarter, up from $45.2 million, or $0.16 cents a share, in the comparable period a year ago. The latest figure included a tax benefit of $0.09 a share. Analysts were looking for earnings of $0.10 a share, according to a poll by FactSet Research. ETFC rose 6.1% to $10.48 on volume of 17.65 million shares.

E-Trade provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The company also provides investor-focused banking products, primarily sweep deposits and savings products, to retail investors. The company operates in two segments: trading and investing and balance sheet management.

SanDisk Corp. (NASDAQ: SNDK) dropped 11.3% to $35.91, a day after the company reported a 49% drop in its first quarter. The flash memory maker’s total revenue dropped 6.9% to $1.21 billion. SNPK was worst-performing stock on the S&P 500 for the day.

SanDisk designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies. The company’s solutions include removable cards, embedded products, universal serial bus (USB), drives, digital media players, wafers and components. Its removable cards are used in a range of consumer electronics devices, such as mobile phones, digital cameras, gaming devices and laptop computers.

The Dow Jones industrial average fell 68.65 points to 12,964.10. The Standard & Poor’s 500 dropped 8.22 points to 1,376.92 and the Nasdaq composite index lost 23.89 points to 3,007.56.

Earnings reports remain upbeat overall — Bank of America (NYSE: BAC) reported a profit of $653 million for its first quarter on revenue of $22.28 billion. However, the figures represent a decline of 68% and 17%, respectively, from last year. On adjusted basis, the company earned $0.31 a share, topping analysts’ expectations of $0.12 a share. Analysts were looking for revenue of $22.51 billion. BAC dropped 1.7% to $8.77 on above-average volume of over 348 million shares.

Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbanking subsidiaries throughout the U.S. and in international markets, the company provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Card Services, Consumer Real Estate Services (CRES), Global Commercial Banking, Global Banking & Markets (GBAM) and Global Wealth & Investment Management (GWIM), with the remaining operations recorded in All Other.

Morgan Stanley (NYSE: MS) swung to a net loss of of $119 million, or $0.06 a share, for its first quarter from a $736 million, or $0.50 per share, profit a year earlier. The company cited a $2 billion accounting charge related to the price of Morgan Stanley’s own debt. Excluding the charge, the company would have earnings from continuing operations of $1.34 billion, which represents a 55% increase from $866 million reported in the comparable period last year. MS gained 2.3% to $18.07 on volume of nearly 50 million shares.

Morgan Stanley, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. The company is a financial holding company and a global financial services firm. It operates in three segments: Institutional Securities, Global Wealth Management Group and Asset Management.

eBay Inc. (NASDAQ: EBAY) reported a 20% increase to $570 million in profit for its January to March quarter. Revenue came in at $3.28 billion, up 29% from the comparable quarter last year. The results topped analysts’ predictions of $0.52 a share on sales of $3.15 billion. Investors also cheered its outlook for the full year. EBAY rose 13.2% to $40.62 on volume of nearly 61 million shares.

Among other stocks making big moves:

Human Genome Sciences (NASDAQ: HGSI) traded higher today after the biotech company rejected a $2.6 billion acquisition by GlaxoSmithKline PLC. The Rockville, Md.-based company called the British pharmaceutical giant’s offer too low. HGSI surged 97.6% to $14.17 on strong volume of over 126 million shares.

Human Genome Sciences operates as a biopharmaceutical company in the United States. Its principal products include BENLYSTA for systemic lupus erythematosus; and raxibacumab for inhalation anthrax. The company?s mid- and early-stage pipeline products comprise Mapatumumab, a human monoclonal antibody for the treatment of advanced hepatocellular cancer; HGS1036, a biologic for multiple cancers; HGS1029, an IAP inhibitor that is in Phase 1 development to treat patients with solid and lymphoid tumors; and HGS1025, a human monoclonal antibody to the CCR5 receptor that would have entered Phase 1b development in ulcerative colitis

Shares in Gilead Sciences Inc. (NASDAQ: GILD) advanced 12.1% to $52.25 on volume of over 36 million shares.The Foster City,CA-based biopharmaceutical company is set to announce its first quarter 2012 financial results on Thursday, April 26, after the closing bell. It will host a conference call to discuss the results and provide a general business update.

Gilead Sciences discovers, develops, and commercializes human therapeutics for the treatment of life threatening diseases worldwide. Its products include Atripla, Truvada, Viread, Complera/Eviplera, and Emtriva for the treatment of human immunodeficiency virus (HIV) infection in adults; Viread and Hepsera oral formulations for the treatment of chronic hepatitis B; Letairis, an oral formulation for pulmonary arterial hypertension; Ranexa, a tablet for chronic angina; Lexiscan/Rapiscan, a test that detects and characterizes coronary artery disease; Cayston, an inhaled antibiotic for the treatment of respiratory systems in cystic fibrosis patients; Tamiflu, a capsule for the treatment and prevention of influenza A and B.

Gentex Corp. (NASDAQ: GNTX) reported a 9.5% increase to $46.3 million in its first-quarter profit. Its revenue, meanwhile, jumped 16% to $290.7 million. Earnings per share came in at $0.32, matching analysts’ view. The company’s weak second-quarter outlook, however, dampened sentiment. GNTX dropped to a new 52-week low of $21.30 before closing a $21.35, a loss of 16% for the day.

Gentex supplies automatic-dimming (auto-dimming) rear-view mirrors and camera-based lighting-assist features to the global automotive industry. The company also provides commercial smoke alarms and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets. It is involved in designing, developing, manufacturing and marketing interior and exterior auto-dimming automotive rear-view mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. Gentex also manufactures non-automatic-dimming rear-view automotive mirrors with electronic features.

Stocks slumped today as Europe weighed heavily on the market, pushing the Dow Jones industrial average down 82.79 points, or 0.6%, to 13,032.75.

The broader market, as measured by the Standard & Poor’s 500-stock index, slipped 5.64 points, or 0.4%, to 1,385.14, while the Nasdaq composite index dropped 11.37 points, or 0.4%, to 3,031.45.

The following stocks made notable moves in the stock market today: Catalyst Health Solutions Inc. (CHSI), Polaris Industries Inc. (PII), Intuitive Surgical Inc. (ISRG), Genworth Financial Inc. (GNW), Intermec Inc. (IN), Chesapeake Energy Corp. (CHK)

Pharmacy benefits manager Catalyst Health Solutions Inc. (NASDAQ: CHSI) traded higher today on news that it will be bought by rival SXC Health Solutions Corp. (SXCI) in a cash-and-stock deal valued at approximately $4.4 billion. The combined company is expected to have an annual prescription volume of more than 200 million. The transaction is pending approval from shareholders from both companies. CHSI gained 34.1% to $85.23 today, on big volume 12.48 million shares. SXCI rose 11.3% to $89.36 on volume of 13.46 million shares.

Headquartered in Rockville, MD, Catalyst Health Solutions operates as a full-service pharmacy benefit management company primarily under the Catalyst Rx name in the U.S. The company provides its clients and their members with benefit adjudication through customized plan designs, clinical programs, physician orientation programs, and member education for controlling pharmacy spending trends; and access to rebate arrangements for various branded pharmaceuticals. It offers access to a contracted network of approximately 65,000 pharmacies. The company serves self-insured employers; state and local governments; managed care organizations; unions; third-party administrators; hospices; and individuals who contract with to administer the prescription drug component of their overall health benefit programs

Polaris Industries Inc. (NYSE: PII) gained 10.1% to $80.50, extending its gains for the third day. The vehicle maker today posted earnings of $0.85 per share on revenue of $673.8 million — both topping analysts’ expectations of $0.77 per share and revenue of $612.5 million. The company also gave an improved outlook for full year.

Headquarter in Medina, MN, Polaris Industries designs, engineers and manufactures off-road vehicles (ORV), including all-terrain vehicles (ATV) and side-by-side vehicles for recreational and utility use, snowmobiles, and on-road vehicles, including motorcycles and small electric vehicles (SEV), together with the related replacement parts, garments and accessories (PG&A). These products are sold through dealers and distributors located in the United States, Canada and Europe. In April 2011, the company acquired Indian Motorcycle Company.

Robotic surgical device maker Intuitive Surgical Inc. (NASDAQ: ISRG) reported net income of $3.50 per diluted share, for its first quarter, topping last year’s $2.59 per diluted share. Revenue for the quarter was $495 million, up 28% compared to $388 million for the first quarter of 2011. Analysts were looking for earnings of $3.50 per share on revenue of $504.6 million. ISRG gained 7.2% to $584.52 on above-average volume of 1.42 million shares.

Intuitive designs, manufactures and markets da Vinci Surgical Systems and related instruments and accessories. A da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s natural hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions, or ports. The da Vinci Surgical System is designed to provide its operating surgeon with intuitive control, range of motion, fine tissue manipulation capability and three dimensional (3-D), high-definition (HD) vision while simultaneously allowing them to work through the small ports of minimally invasive surgery (MIS). On January 11, 2012, the Company acquired its Korean distributor.

On the downside, Genworth Financial Inc. (NYSE: GNW) traded lower following Tuesday’s news the insurance company would delay the initial public offering for its Australian mortgage insurance business until early next year. The company cited its recent performance in Australia where losses have jumped due to increased foreclosures. GNW slipped 23.8% to $5.87 on volume of 75.24 million shares.

Intermec Inc. (NYSE: IN) lost 27.6% to $5.39 on volume of 2.19 million shares. The company on Tuesday released a weaker-than-expected outlook for its first quarter, attributable to weak demand in Europe.

Intermec is a global business that designs, develops, integrates, sells and resells wired and wireless automated identification and data collection (AIDC) products and related services. Its products include mobile computers, barcode scanners, printers, label media, radio frequency identification (RFID) products and related software. It also offers a variety of services related to its product offerings. It sells its products through direct sales force; and third party value-added distributors, resellers, and independent software and service vendors.

Chesapeake Energy Corp. (NYSE: CHK) declined today following a Reuters report that CEO Aubrey McClendon borrowed as much as $1.1 billion against his stake in thousands of company wells. Those loans raised worries about the potential for conflict of interest, the report said. CHK dropped 5.5% to $18.06 on high volume of 93.52 million shares.

Chesapeake engages in the exploration, development and acquisition of properties for the production of natural gas and oil from underground reservoirs. It also provides substantial marketing, midstream, drilling and other oilfield services. Its operations are located onshore and in the continental United States. As of December 31, 2011, the company owned interests in approximately 45,700 producing natural gas and oil wells that produced approximately 3.5 billion cubic feet of natural gas equivalent per day, net to its interest. The Company operates in three segments: exploration and production; marketing, gathering and compression, and oilfield services.