8 Min Read
Nov 5 (Reuters) - Some U.S. stocks on the move on Monday:
(For more market insights, including options activity, click on STXNEWS/US; for the day ahead newsletter, link.reuters.com/mex49s)
U.S. stocks slipped in low volume as traders awaited Tuesday's U.S. election to place bets on sectors seen performing better under one or the other political party. The Dow Jones industrial average was down 0.36 percent, the S&P 500 down 0.38 percent and the Nasdaq Composite was down 0.09 percent.
** APPLE INC, $583.71, up 1.1 pct (0950 ET)
Apple said its sales of Wi-Fi only iPads had doubled from its last launch as it sold 3 million in the three days since the introduction of the two newest versions of its popular tablet computer.
** NAM TAI ELECTRONICS INC $13.39, up 25 pct (1000 ET)
The electronic components maker reported higher third-quarter results, helped by a ramp-up in production of its LCD modules used in tablets and smartphones.
** EBIX INC, $16.38, down 27 pct (1055 ET)
The company, which supplies software and e-commerce services to the insurance industry, is being investigated by the U.S. Securities and Exchange Commission for its accounting practices, Bloomberg reported. Bloomberg said the company denied the allegations. r.reuters.com/net73t
** BIOMARIN PHARMACEUTICAL INC, $47.85, up 28 pct (0950 ET)
The company said a late-stage trial of its experimental genetic disorder drug met the main goal of improving patients' walking ability when administered weekly.
** TURQUOISE HILL RESOURCES LTD , $8.97, up 10 pct (1033 ET)
The miner said it had signed a power supply agreement with China's state-owned Inner Mongolia Power Corp, putting it on track to begin commercial production in the first half of next year.
** PHARMACYCLICS INC, $50.28, down 12 pct (0945 ET)
The company stopped testing one dose of its experimental cancer product to treat multiple myeloma patients after early results showed that the drug was not as effective as expected in the 420 mg dose. The drug will continue to be tested in higher doses in myeloma patients and in another kind of blood cancer.
** DOVER CORP, $60.79, up 4 pct (1036 ET)
The U.S. industrial conglomerate said it will buy back $1 billion of its shares and shed non-core businesses.
** BRUKER CORP, $13.97, up 10 percent
The maker of tools used in life sciences research, raised its full-year outlook on the back of better-than-expected quarterly results as the company withstood softening demand in some of its markets with a strong backlog.
** STRATEGIC HOTELS & RESORTS INC, $6.40, up 15 pct (1055 ET)
The Luxury hotel owner's founder and CEO Laurence Geller stepped down on Friday, but brokerage JMP Securities raised its rating on the stock to "market outperform" citing a declining valuation and an EBITDA multiple that is in line with peers.
** iCAD Inc, $2.85, up 32.65 percent (1019 ET)
The company said it received an improved payment policy for a radiation therapy from U.S. Centers for Medicare & Medicaid Services. The payment value for the therapy in the final rule is more than twice the previous amount.
** AMICUS THERAPEUTICS, $5.33, up 6.6 pct (0959 ET)
Amicus presented updated data from a mid-stage trial of its experimental Fabry disease treatment that showed that patients treated with the drug for an extended period of time showed less indicators of the disease in the kidney.
** VELTI PLC, $6.69, down 8 pct (1109 ET)
Janney Capital Markets downgraded the mobile marketing company's stock to neutral on continued weakness in Europe. Janney also cut its fair value estimate to $10 from $14 on the stock.
** METHODE ELECTRONICS $9.26, down 4 pct (0951 ET)
The company, which designs sensors, interconnections and controls, cut its full-year forecast due to weak demand in its European automotive business. The company said it now expects to earn 45 cents to 60 cents per share, down from its earlier forecast of 66 cents to 81 cents per share. It also cut its revenue forecast to between $470 million and $500 million, from between $495 million and $525 million.
** FUELCELL ENERGY INC, $1.05, up 15 pct (1000 ET)
The U.S.-based company said it won a $181 million contract to supply 121.8 megawatt of fuel cell kits and services to partner POSCO Energy, an affiliate of South Korean steel producer POSCO.
** RADIAN GROUP, $4.82, down 10 pct (1010 ET)
Barron's said on Saturday that the mortgage insurer's balance sheet may be weaker than it appears and the company seems to face a substantial liquidity problem. r.reuters.com/xys73t
** KBW INC, $17.54, up 7.6 pct (0952 ET)
** STIFEL FINANCIAL CORP, $32.39, up 1.5 pct (0952 ET)
Stifel said it would buy smaller rival KBW in a cash-and-stock deal valued at about $575 million, creating a middle-market investment bank focused on the financial services industry.
** E*Trade Financial Corp $8.79 up 4.6 pct
The online financial services company said on Friday that it has initiated a review of its order handling practices after one of its directors questioned the efficiency of its services. [ID: nL3E8M28CC]
** ENDO HEALTH SOLUTIONS INC, $27.39, down 6 pct (1034 ET)
The company reported a quarterly revenue below market estimates on lower sales of its prescription pain drug Opana ER, and the company cut its outlook for the year for the second time in two months.
** McGRAW-HILL, $51.45, down 5 percent (1044 ET)
Australia's federal court issued a landmark judgment that the company's bond rating unit, Standard & Poor's, misled investors by giving its highest rating to derivatives that lost almost all their value in the run-up to the 2008 global economic crisis.
** CORINTHIAN COLLEGES INC, $2.49, down 9 pct (10.32 ET)
The company said the U.S. Department of Education gave it a financial responsibility score that falls below the minimum requirement needed to allow its students easy access to federal student loans.
** SOHU.COM INC, $41.97, up 5 pct (0953 ET)
The Chinese Internet portal reported better-than-expected third-quarter results on higher advertising and search revenue, and forecast fourth-quarter adjusted earnings above analyst estimates.
** TRANSOCEAN LTD, $48.37, up 5 pct (0954 ET)
The world's largest offshore rig contractor reported a higher-than-expected adjusted profit for the third quarter as it made more efficient use of its fleet.
** BERKSHIRE HATHAWAY INC, $85.47, down 1.6 pct (0955 ET)
The conglomerate run by billionaire Warren Buffett said on Friday its third-quarter profit rose as strength in the railroad and utility businesses as well as investment gains offset weaker results in the insurance units.
** TIME WARNER CABLE INC, $92.51, down 5.7 pct (0956 ET)
The second largest U.S. cable operator reported a quarterly profit that missed estimates as the company lost more video subscribers than expected.
** TESLA MOTORS INC, $29.80, up 3 pct (0958 ET)
The electric carmaker reported a bigger quarterly loss as it ramped up production of its Model S sedan, and maintained its 2012 revenue outlook. Revenue came to $50 million, up 16 percent from a year earlier and up 88 percent from the previous quarter. Analysts had expected $48.3 million.
** GENESEE & WYOMING INC,, $74.26, up 4 pct (0959 ET)
The railroad operator reported better-than-expected quarterly earnings for the fourth straight quarter as an increase in freight rates offset a decline in commodity volumes. (Compiled by Avik Das in Bangalore)