Here’s what’s hot in the market today: Local.com got a boost thanks to a new partnership with Google; Sony saw unusual activity; Ixia took a massive hit after lowering its Q2 guidance; Markwest Energy dipped on its latest offering; and Autoliv fell on news of an anti-trust investigation.
Ixia (NASDAQ: XXIA) dropped more than 23% to trade under $10 on almost 12- times normal trading. The company creates and operates testing systems for wireless networks. Reuters reported on Thursday that Ixia had lowered its revenue and EPS guidance for the second quarter of 2011. Where the company was expecting around $82 million in revenue for the quarter, it now expects as little as $67 million.
Sony (NYSE: SNE) fell about 1% to near $27 with 1.4 million shares traded. Bloomberg reported possible low gains for U.S. earnings, singling out Sony as a company negatively impacted by the earthquake in Japan last March.
Local.com (NASDAQ: LOCM) was up 17% with more than 4 million shares of the local Web search service were traded. The company announced a partnership with Google (NASDAQ: GOOG) to provide targeted advertising and search services on certain websites starting in August. Shares were trading just below $4.
Markwest Energy Partners (NYSE: MWE), the natural gas company, fell more than 3% after announcing the pricing on its latest public offering. The company offered 3.5 million common stock shares at $48 today. Shares were trading just above the offering midday.
Autoliv (NYSE: ALV), an automotive safety products and parts provider, fell almost 9% to trade near $72.75. Reuters reported that the company was the subject of an anti-trust investigation in the U.S. and Sweden.