Stocks fluctuated in the morning session, with mixed results in today’s headlining stocks. Despite bad news from the FDA, MTXX gained 4% this morning, while FDX’s Q4 results send shares down.

Matrixx Initiatives Inc. (Nasdaq: MTXX), FedEx (NYSE: FDX), News Corp. (Nasdaq: NWSA), Steel Dynamics Inc. (Nasdaq: STLD), STEC Inc. (Nasdaq: STEC), Lockheed Martin Corp. (NYSE: LMT).

Matrixx Initiatives Inc. (Nasdaq: MTXX) Stock Alert – Matrixx to Remove its Nasal Spray Formula from the Market; Zicam Cold Remedy Damages Sense of Smell, says FDA

Federal health regulators recently announced Zicam Cold Remedy nasal gel and related products made by Matrixx Initiatives Inc. (Nasdaq: MTXX) should not be used by consumers because these products can permanently damage their sense to smell, reported the Associated Press (AP).

The Food and Drug Administration (FDA) said the over-the-counter product contains zinc, which scientists say can cause nerve damage. Other products containing zinc made by the company include adult and children-size Zicam Cold Remedy Nasal Swabs.

Since 1999, the FDA has reported 130 cases of consumers who lost their sense of smell while using these particular Scottsdale, Ariz.-based Matrixx Initiatives’ products.

Following the announcement, shares of MTXX plunged by more than 50%.

“Loss of the sense of smell is potentially life threatening and may be permanent,” said Dr. Charles Lee, of FDA’s compliance division. “People without the sense of smell may not be able to detect dangerous life situations, such as gas leaks or something burning in the house.”

Late Tuesday, after denying any safety issues related to Zicam Cold Remedy Swabs and Gel, the company said it will pull the products off the market.

The FDA said Zicam Cold Remedy never underwent formal approval by the Administration because the product was categorized as homeopathic, a formulation usually containing herbs, minerals and flowers.

“The next step, if they wish to continue marketing Zicam intranasal zinc products, is for them to come in and seek FDA approval,” said Deborah Autor, director of FDA’s drug compliance division.

The FDA now requires the product to enter its formal approval process before it can be considered to re-enter the marketplace, Autor said.

According to the American Association of Homeopathic Pharmacists, the global market for homeopathic drugs is approximately $200 million.

In a statement issued Tuesday, Matrixx said the safety of Zicam Cold Remedy is “supported by the cumulative science and has been confirmed by a multidisciplinary panel of scientists.” Matrixx also said it will comply with the FDA, but will “vigorously defend its scientific data” with the Administration.

Hundreds of lawsuits against Matrixx have been settled in recent years, but the company says on its Web site: “No plaintiff has ever won a court case because there is no known causal link between the use of Zicam Cold Remedy nasal gel and impairment of smell.”

Matrixx reports approximately $110 million of sales of Zicam and related products last year.

Matrixx develops, produces, markets and sells over-the-counter (OTC) healthcare products with an emphasis on those that utilize delivery systems that provide consumers with Better Ways to Get Better. Through its subsidiary, Zicam, LLC, the company markets and sells products under the Zicam brand.

Shares of MTXX rose 4.50% to $6.04 this morning.

In its recent chart, MTXX is trading below its higher Bollinger Bands range, a bearish condition signaling that the stock is weak relative to the recent price action. MACD reflects a bearish signal, with the indicator trending below its 9-day moving average signal line, indicating downwardly trending moving averages.

FedEx (NYSE: FDX) Stock Alert – FedEx Posts Q4 Loss, Widely Missing Wall Street Expectations

FedEx (NYSE: FDX) this morning posted its fiscal fourth-quarter earnings for the period ended May 31, reporting a loss of $876 million, or $2.82 per share.

Excluding impairment charges, FedEx’s profit fell to 64 cents per share from $1.45 per share; Thomson Reuters mean analysts’ estimate for the world-wide delivery company was a profit of 52 cents per share on revenue of $8.34 billion.

Total revenue was $7.85 billion, down 20% from $9.87 billion for the same period last year.

The company reported net income of $98 million, or 31 cents per share for fiscal 2009.

FedEx recently announced it would cut 1,000 of its 290,000 employees worldwide, as part of its $ 1 billion cost-reduction plan.

The company also hinted at the first half of 2010, saying it expects first-quarter earnings of 30 cents to 45 cents a share, based on current fuel prices and assuming a solid economic environment.

“The operating environment for our first two quarters in fiscal 2010 is expected to be extremely difficult,” Alan Graf, FedEx’s CFO, stated in the press release. “Manufacturing activity is expected to be substantially negative year over year through the summer and last year’s first-quarter results benefited from stronger economic activity, making earnings comparisons difficult.”

Despite expectations for the first two quarters of 2010, the company didn’t offer a full-year forecast; the company did note the recent bump in oil prices will hurt the company’s first-quarter results.

“There are signs that the worst of the recession is behind us and we remain optimistic that we will see quarter-over-quarter economic improvement later this calendar year,” said Frederick Smith, FedEx’s chairman and CEO.

FedEx provides a portfolio of transportation, e-commerce and business services through companies that compete collectively, operate independently and manage collaboratively, under the respected FedEx brand.

Shares of FDX fell 2.53% to $50.12 this morning.

In its recent chart FDX is trading below its higher Bollinger Bands range, a bearish condition signaling that the stock is weak relative to the recent price action. MACD reflects a bearish signal, with the indicator trending below its 9-day moving average signal line, indicating downwardly trending moving averages.

News Corp. (Nasdaq: NWSA) Stock Alert – News Corp.’s MySpace to Lay Off 30% of Staff

Internet-based social network giant MySpace, owned by News Corp. (Nasdaq: NWSA), yesterday announced it will reduce the company’s staff by 30% to reduce costs amid growing competition in the Internet social network market, the Associated Press reported.

In a statement released Tuesday, Myspace said it will reduce its staff to approximately 1,000 employees. The announcement follows several weeks of blog posts suggesting a move to return the social network to a “start-up culture.”

“Simply put, our staffing levels were bloated and hindered by our ability to be an efficient and nimble team-oriented company,” MySpace CEO Owen Van Natta said in the statement. “I understand that these changes are painful for many; they are also necessary for the long-term health and culture of MySpace.”

Digital Media Chief Jonathan Miller at News Corp. said that MySpace “grew too big considering the realities of today’s marketplace.”

MySpace’s success has led to newer rival social networks such as FaceBook and Twitter to thrive as alternatives, increasingly taking market share from MySpace.

News Corp. is a diversified entertainment company with operations in eight industry segments, including Filmed Entertainment, Television, Cable Network Programming, Direct Broadcast Satellite Television, Magazines and Inserts, Newspapers and Information Services, Book Publishing and Other.

The activities of News Corp. are conducted principally in the United States, the United Kingdom, Continental Europe, Australia, Asia and the Pacific Basin. Through its subsidiaries, it is engaged in the operation of broadcast television stations, and the development, production and distribution of network and television programming.

The company engages in the direct broadcast satellite business through its subsidiary, SKY Italia. It also owns interests in BSkyB and Premiere, which are engaged in the direct broadcast satellite business.

Shares of NWSA lost 1.70% in this morning’s trading session, moving to $9.25.

In its recent chart, NWSA is trading below its higher Bollinger Bands range, a bearish condition signaling that the stock is weak relative to the recent price action. MACD reflects a bearish signal, with the indicator trending below its 9-day moving average signal line, indicating downwardly trending moving averages.

Steel Dynamics Inc. (Nasdaq: STLD) Stock Alert – Steel Dynamics’ Stock Upgraded; Shares Outperforming NASDAQ by Two-to-One Since March Market Bottom

Steel Dynamics Inc. (Nasdaq: STLD) yesterday announced that New York-based Dahlman Rose & Co. LLC upgraded the steel maker’s stock to Buy from Hold.

The rebound in steel producer and metals recycler has outperformed the major averages during the current stock rally beginning March 10, bettering the Nasdaq on the way up from the bottom in stocks reached in early March.

Since the March 9 closing low of 1,268.64, the Nasdaq has risen 41.6%, settling on Tuesday at 1,796.18, while STLD has risen 95.4% from its March 9 low of $7.81 to close Tuesday at $15.26, handily outperforming the Nasdaq during this time period.

Steel Dynamics is a steel producer and metals recycler. The company has three segments: steel operations, steel fabrication operations, and metals recycling and ferrous resources operations. The company’s products in its steel segment include hot rolled, cold rolled, galvanized, Galvalume and painted sheet steel; various structural steel beams and rails; special bar quality steel, and various merchant steel products, including beams, angles, flats and channels.

The company’s products in the metals recycling segment include ferrous and nonferrous scrap processing, scrap management, transportation, and brokerage and trading products and services. The steel fabrication segment produces steel joists and decking materials.

On June 9, 2008, it acquired the remaining 75% equity interest in Recycle South LLC.

On June 24, 2008, it acquired certain assets of Sturgis Iron & Metal, an operator of scrap collection and processing locations in Indiana, Michigan and Georgia.

Shares of STLD fell 3.28% this morning to $14.76.

In its recent chart, STLD is trading above its higher Bollinger Bands range, a bullish condition signaling that the stock is strong relative to the recent price action. MACD reflects a bearish signal, with the indicator trending below its 9-day moving average signal line, indicating downwardly trending moving averages.

STEC Inc. (Nasdaq: STEC) Stock Alert – STEC Raises Q2 Guidance

STEC Inc. (Nasdaq: STEC) recently raised its guidance for the second quarter, saying it expects sales and earnings will be better than previously expected, the Associated Press reported.

The Santa Ana, Calif.-based company expects sales of its ZeusIOPS solid-state drive products to improve, leading to the revision to its financial outlook.

The company anticipates earnings to reach 32 cents to 36 cents per share for the quarter, compared with a previous estimate of 20 cents to 22 cents. Mean analysts’ estimates polled by Thomson Reuters is for STEC to earn 21 cents per share.

STEC said it forecasts revenue to reach between $82 million and $84 million, compared with previous estimates of $68 million to $70 million. Thomson Reuters analysts expect $69.1 million.

STEC previously anticipated sales of its ZeusIOPS line would reach more than $65 million for the first half of the year, but now believe sales will exceed $80 million, with as much as $55 million to be posted for the second quarter.

STEC designs, develops, manufactures and markets custom memory solutions based on flash memory and dynamic random access memory (DRAM) technologies. The company specializes in developing flash drives and memory cards used in sensitive and highly volatile environments and high-density DRAM modules.

STEC offers a product line used by original equipment manufacturers (OEMs). Prior to the divestiture of its Consumer Division, the company also designed, developed, manufactured and marketed open-standard memory solutions based on flash memory, DRAM technologies and external storage solutions used in consumer electronics applications. STEC offers both monolithic DRAM modules and DRAM modules based on its stacking technology.

During the year ended December 31, 2008, the company sold to more than 329 customers, consisting of direct sales and sales through OEM distributors and contract manufacturers that incorporate its products into systems they assemble for STEC’s customers.

Shares of STEC slipped 1.18% to $22.61 this morning.

In its recent chart, STEC is trading above its higher Bollinger Bands range, a bullish condition signaling that the stock is strong relative to the recent price action. MACD reflects a bullish signal, with the indicator trending above its 9-day moving average signal line, indicating upwardly trending moving averages.

Lockheed Martin Corp. (NYSE: LMT) Stock Alert – Lockheed announces Additional 750 Job Cuts

Lockheed Martin Corp.(NYSE: LMT) said it plans to cut 750 jobs at its upstate New York facility due to the cancellation of a Lockheed contract to build helicopters for the president of the United States, the Associated Press reported.

With approximately 4,000 working at the Owego systems integration plant, the Pentagon’s decision in April to cut some of Lockheed’s contracts will raise the total layoff at Owego to 1,000.

Lockheed said it will cut some of the workforce through natural attrition, but the defense contractor will make further cuts in mid-July to reach the 1,000 mark.

The Pentagon’s cancellation of a $13 billion deal to build a fleet of Marine One helicopters for the president and other top officials was one of the plant’s largest contracts, which was formally canceled by the Navy earlier this month after defense secretary Robert Gates said he planned to nix the contract because of growing costs and delays.

Lockheed Martin is a global security company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems and products.

The company provides a range of management, engineering, technical, scientific, logistic and information services. It serves both domestic and international customers with products and services that have defense, civil and commercial applications, with its principal customers being agencies of the United States Government.

The company operates in four segments: Electronic Systems, Information Systems and Global Services (IS&GS), Aeronautics and Space Systems. In September 2008, Lockheed Martin Corporation acquired Aculight Corporation.

In January 2009, the company completed its acquisition of Universal Systems & Technology, Inc. (UNITECH).

Shares of LMT slipped .06% to $81.90 this morning.

In its recent chart, LMT is trading below its higher Bollinger Bands range, a bearish condition signaling that the stock is weak relative to the recent price action. MACD reflects a bearish signal, with the indicator trending below its 9-day moving average signal line, indicating downwardly trending moving averages.

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