Late Market Roundup (SPWRA, AUO, PUK, AIG, JNJ, SIG)

The majority of the members surveyed by the American Association of Individual Investors (AAII) have become bearish about the stock market for the first time since November 5. Investors with bullish sentiments over the next six months dropped to 29.8%, down 11.5 percentage points, and those with neutral sentiments fell to 19.3%, down by 5.7 percentage points.

Shares of SunPower Corp (NASDAQ: SPWRA) jumped 21.48% to $13.12 at 12:30 pm after the solar panel maker announced a launch of $700 million joint venture (50-50) with AU Optronics Corp (NYSE: AUO). In this venture, both companies will operate SunPower's solar sell fabrication facility in Malaysia and will contribute $350 million each over the next few installments. The company said, "We believe that this joint venture will enable us to produce more megawatts faster, at lower cost, with substantially less cash contribution from SunPower."

Shares of Prudential (NYSE: PUK) moved up 8% after reports came in that institutional investors holding a 15% stake and some private shareholders holding a 5% stake are planning to oppose the proposed $35.5 billion takeover of the Asian business of American International Group (NYSE: AIG) at the company’s annual meeting.

The Food and Drug Administration (FDA) is planning "additional enforcement actions" including criminal penalties against Johnson & Johnson (NYSE: JNJ) after the company recalled its Tylenol and other medicines for children. Joshua Sharfstein, the FDA's principal deputy commissioner told that the agency was "considering enforcement actions against the company for its pattern of noncompliance which may include seizure, injunction or criminal penalties."

Signet Jewelers (NYSE: SIG) posted a sharp increase in its net profits for the fiscal Q1. The company posted its net profit at $0.60 per share, up from $0.31 per share in the year ago period. SIG’s revenue is likely to come at the top end of the forecasted range of $150 million-$200 million in fiscal 2011.

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