huron consulting

U.S. stocks traded higher Monday. The Dow Jones Industrial Average gained 88 points to 9259, the S&P 500 rose 12 points to 1000 and the Nasdaq Composite moved up 21 points to 2000. Among the companies whose shares are actively trading in the session are Ford Motor Co. (F), Huron Consulting Group Inc. (HURN) and Savient Pharmaceuticals Inc. (SVNT).

Ford's ($8.47, +$0.47, +5.88%) July sales increased year over year for the first time in nearly two years, helping boost shares along with hype behind the "cash for clunkers" program. Auto parts maker Dana Holding Corp. (DAN, $4.20, +$0.69, +19.60%) also climbed on the news, as Ford is its biggest customers. American Axle & Manufacturing Holdings Inc. (AXL, $2.68, +$0.48, +21.81%) - another volatile auto parts maker facing bankruptcy concerns - also traded higher, as did Modine Manufacturing Co. (MOD, $9.18, +$1.53, +20.00%), a maker of heating and cooling systems.

Huron ($14.30, -$30.05, -67.76%) late Friday said it will restate financial statements for 2006 to 2008 in addition to the first quarter. For all restated periods, the provider of financial and legal consulting services said it anticipates a hit of $57 million on income. The company blamed the acquisition of four businesses from 2005 to 2007 for the restatements. It also forecast revenue for this year and the second quarter below Wall Street's expectations.

Savient ($11.85, -$3.74, -23.99%) shares declined after the U.S. Food and Drug Administration said at this time it couldn't approve the drug company's application for its gout treatment Krystexxa. The agency said there are "deficiencies with the chemistry, manufacturing and controls" portion of the application for Krystexxa, along with problems with the latest draft of proposed labeling.

Shares of Orbitz Worldwide Inc. (OWW, $3.01, +$0.41, +15.77%) and Priceline.com Inc. (PCLN, $133.27, +$3.65, +2.82%) climbed Monday after analysts said the online travel-booking companies could beat second-quarter estimates. Benchmark boosted its stock-investment ratings for Orbitz and Priceline to buy from hold, saying "last week's impressive transaction volume gains" by peer Expedia Inc. (EXPE, $21.11, +$0.40, +1.93%) could signal upside surprise for the other online travel companies.

Oshkosh Corp. (OSK, $30.51, +$3.06, +11.15%) received an additional $1.06 billion order to deliver 1,700 military all-terrain vehicles to U.S. Army by February. The maker of specialty vehicles won an original $1.05 billion contract in June. The company said it's confident it will be able to ramp up production to 1,000 vehicles per month in December.

Zions Bancorp (ZION, $14.68, +$1.10, +8.08%) shares rose after Morgan Stanley recommended taking more risk in mid-cap banks. The firm highlighted Zion as one of three banks with the most upside potential after raising capital to work out problematic loans. Zion will keep suffering credit losses for several more quarters, the firm said, but contended the losses are already reflected in the share price. The firm's other two other picks were South Financial Group Inc. (TSFG, $1.75, +$0.14, +8.70%) and Webster Financial Corp. (WBS, $11.86, +$0.55, +4.86%).

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Administaff Inc.'s (ASF, $24.53, -$0.53, -2.11%) second-quarter earnings dropped 51% on increased benefits costs and falling margins. The human-resources provider's results missed expectations.

U.K. bank Barclays PLC (BCS, $21.91, +$1.37, +6.67%) Monday posted a 10% rise in first-half profit as it benefited from its purchase last year of Lehman Brothers' North American investment banking assets, which helped boost the performance of its own investment bank, Barclays Capital.

Barnes Group Inc. (B, $15.49, +$1.42, +10.09%) posted a 69% drop in second-quarter profit that reflected pressures in the transportation sector for the maker of precision components for the aerospace, automotive and other industries.

Clorox Co.'s (CLX, $59.22, -$1.79, -2.93%) fiscal fourth-quarter profit rose 7.6% on increased margins, despite flat revenue, as earnings beat analysts' views.

Colonial BancGroup Inc. (CNB, $0.50, -$0.11, -18.46%) reported earnings, excluding items, above Wall Street's expectations. But Colonial said it's seeking to sell or merge the company. In addition, the company will try to reduce expenses and initiate an exchange of bank level subordinated debt for senior notes. Among other possibilities are seeking sources of private capital and reducing assets.

Goldman Sachs cut its stock-investment rating on Comfort Systems USA Inc. (FIX, $10.92, -$0.86, -7.30%) - which provides heating, ventilation and air-conditioning systems - to sell from neutral, saying it believes the market is still in the early stages of a non-residential construction slowdown.

PT Freeport Indonesia, a unit of U.S. mining giant Freeport McMoRan Copper & Gold Inc. (FCX, $64.69, +$4.39, +7.28%), almost doubled its copper output and nearly tripled its gold output in the first half compared with the same period last year as a result of mining higher grade ores, a company spokesman said Monday.

Georgia Gulf Corp.'s (GGC, $23.80, +$6.51, +37.65%) shares extended last week's gains from amendments to its credit pact. It said Friday most of its seven-member board of directors have resigned or intend to resign as the plastics maker has been refinancing debt and trying to ride out a drop in demand in the chemical industry.

Green Mountain Coffee Roasters Inc. (GMCR, $66.91, -$3.54, -5.02%) said it plans to sell at least 4 million shares, equal to 10% of the current stock outstanding, as the specialty coffee maker tries to pay down debt.

Hampton Roads Bankshares Inc. (HMPR, $4.05, -$1.11, -21.46%) will offer up to 32.5 million shares in a highly dilutive offering. The Virginia-based bank also said its board voted Thursday to suspend its quarterly dividend, as the company said it swung to a second-quarter loss.

HSBC Holdings PLC (HBC, $54.37, +$3.67, +7.24%) on Monday continued to show losses at its U.S. consumer finance division, where it has been heavily exposed to the subprime market, but said that the economy was stabilizing and that customer delinquency showed signs of slowing down.

Humana Inc.'s (HUM, $34.32, +$1.47, +4.47%) second-quarter earnings rose 34% as revenue climbed, despite falling enrollment, on strong gains at its Medicare Advantage business. Earnings per share were in line with guidance, as revenue came in slightly ahead of analysts' expectations.

Loews Corp. (L, $31.65, +$1.63, +5.43%) reported Monday that its second-quarter profit slumped on a prior-year gain from discontinued operations, and its unit insurer CNA Financial Corp.'s (CNA, $19.75, +$2.70, +15.81%) profit fell 42%, as investment losses continue to pressure the companies' results.

Mercury General Corp.'s (MCY, $36.06, +$0.99, +2.82%) second-quarter profit jumped 62% as investment income tripled, while claims costs fell modestly amid a decline in premiums. That helped earnings handily top analysts' expectations. Many insurance companies continue to suffer from investment losses and a drop in consumer spending, including for homeowners and auto insurance. Mercury General has cut jobs and other costs in response.

MGIC Investment Corp.'s (MTG, $6.38, -$0.22, -3.33%) mortgage-insurance unit delayed its first payment to the MGIC division which will write new business and expects the planned $1 billion in capital to be reduced as it seeks to have the unit approved as an eligible mortgage insurer by Fannie Mae (FNM, $0.57, -$0.01, -1.34%) and Freddie Mac (FRE, $0.60, -$0.02, -2.90%).

MGM Mirage (MGM, $7.69, +$0.46, +6.37%) swung to a second-quarter loss amid charges and falling revenue as the debt-laden casino giant said demand is still down but it has seen some signs of a pickup in bookings. Other casino operators trading higher included Las Vegas Sands Corp. (LVS, $9.93, +$0.58, +6.20%), Wynn Resorts Ltd. (WYNN, $53.68, +$2.51, +4.91%) and Melco Crown Entertainment Ltd. (MPEL, $5.85, +$0.29, +5.22%).

Molson Coors Brewing Co. (TAP, $47.05, +$1.84, +4.07%) on Monday reported its second-quarter profit more than doubled amid the company's U.S. joint venture with SABMiller PLC (SAB.JO) while results topped analysts' expectations with Coors Light volume up 3%.

O'Reilly Automotive Inc. (ORLY, $39.59, -$1.07, -2.63%) was downgraded to underperform from market perform by FBR. The firm said it's taking a more cautious stance with after-market auto parts retail equities. It added that it believes that the equity market has become accustomed to significant earnings-per share beats, and it now looks less likely as O'Reilly starts to cycle the first full quarter of its 2008 acquisition of CSK Auto in fourth-quarter 2009.

Patriot Coal Corp. (PCX, $8.95, +$0.58, +6.93%) announced Monday it will close a surface mine in southern West Virginia in 60 days as the industry continues to cut back production.

Repros Therapeutics Inc. (RPRX, $1.28, -$1.25, -49.41%) suspended dosing in clinical trials of its Proellex drug for uterine fibroids and endometriosis after late last month reporting significantly higher levels of liver enzymes in patients at higher doses. The pharmaceuticals development company also said it is considering various funding options to address its immediate short-term liquidity needs. Shares plunged as Repros said if funding is unavailable, steps up to a bankruptcy filing or liquidation would be considered.

RRI Energy Inc. (RRI, $5.63, +$0.28, +5.23%), the former Reliant Energy, said Monday second-quarter income more than doubled on a gain from discontinued operations as revenue and demand continued to slump.

Thoratec Corp. (THOR, $25.15, +$0.01, +0.04%) said it ended its $282 million bid to acquire medical-device maker HeartWare International Inc. (HTWR, $22.00, -$0.59, -2.61%) after the Federal Trade Commission said it would challenge the deal in court.

Wendy's/Arby's Group Inc. (WEN, $4.87, +$0.29, +6.33%) "may have the best potential for big upside" among fast-food chains, UBS said, raising its stock investment rating to buy from neutral. Wendy's is underway on its restaurant margin improvement while new boneless wings have helped boost same-store sales to the 3% range, UBS said in a note to clients. The firm added the big upside, though, will "depend on Arby's ability to get out of the way of Wendy's Ebitda recovery." That appears to be happening as Arby's is planning value-oriented promotions in coming months to help traffic.