March 14 (Reuters) - Some U.S. stocks on the move on Thursday: (For more market insights, including options activity, click on ; for The Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/faq23t)
Wall Street opened higher on Thursday and the Dow extended its recent winning streak to 10 days in early trading after data showed the labor market recovery was gaining traction.
The Dow Jones industrial average gained 57.25 points, or 0.40 percent. The Standard & Poor’s 500 Index added 5.79 points, or 0.37 percent. The Nasdaq Composite Index rose 12.23 points, or 0.38 percent.
** SINOVAC BIOTECH LTD, $4.95, up 55 pct (0947 ET)
The China-based company said a late-stage trial of its experimental vaccine for hand, foot and mouth disease met the main study goal of preventing the infection in infants between the ages of 6 and 35 months.
** CHINDEX INTERNATIONAL INC, $12.70, up 15 pct (0946 ET)
The company reported a higher quarterly profit, helped by increased contributions from its hospital in Beijing.
** SIGMA DESIGNS INC, $5.04, up 14 pct (0942 ET)
The company, which makes chips for set-top boxes, reported a bigger-than-expected loss for the fourth quarter, but said it believed it “would experience profitability starting in the first quarter”.
** MEN‘S WEARHOUSE INC, $32.44, up 12 pct (0943 ET)
The clothing retailer said it would explore strategic options for its K&G brand and buy back an additional $155 million of its stock.
Men’s Wearhouse also posted a smaller quarterly net loss of $3.4 million, or 7 cents per share, compared with $3.8 million, or 7 cents per share, a year earlier.
** EBIX INC, $17.17, up 10 pct (0946 ET)
The insurance software company reported a 23 percent rise in fourth-quarter sales as revenue from its exchanges business rose.
** VERA BRADLEY INC, $22.89, down 8 pct (0939 ET)
The handbag and accessories retailer forecast first-quarter results below Wall Street estimates, as its distribution partners pull back orders post the holiday season. [ID: nGNX8sBpZC]
Brokerages Sterne Agee & Leach and Keybanc Capital Markets cut their ratings on the stock. [ID:nL3N0C60VF
** E*TRADE FINANCIAL CORP, $10.99, down 7 pct (0940 ET)
Citadel LLC, the largest investor in E*Trade, is selling its entire stake in the discount brokerage and bank company, ending a contentious and profitable five-year relationship.
E*Trade said on Wednesday that Citadel, a Chicago-based hedge fund that bailed it out in November 2007, is selling 27.4 million shares, its entire 9.6 percent stake, on or about March 19 to Citigroup Inc.
** CHRISTOPHER & BANKS CORP, $6.96, up 6 pct (0943 ET)
The women’s apparel retailer reported a 9 percent increase in quarterly sales. Same-store sales rose 18.5 percent in the quarter ended Feb. 2.
** ADDUS HOMECARE CORP, $10.08, up 6 pct (0948 ET)
Oppenheimer raised its price target and 2013 earnings estimates on the home healthcare services provider, citing its quarterly result that was “driven by strong census and billable hours, as well as continued improvements from cost-cutting initiatives.” Analyst Michael Wiederhorn raised his price target on the stock to $12 from $10.
** FLOTEK INDUSTRIES INC, $15.15, up 5 pct (1000 ET)
The oilfield services company said it had signed a deal with Oman-based Gulf Energy to construct an advanced oilfield chemistry production facility. Under the deal, Flotek will also build a research and development organization for advanced oilfield chemistry and analysis.
Separately, Flotek said it had appointed Richard Walton as its chief financial officer. He was named the interim CFO in February.
** RENESOLA LTD, $2.24, up 5 pct (1021 ET)
The Chinese solar wafer and panel maker forecast bigger-than-expected revenue for the current quarter, as selling prices begin to stabilize after a sharp fall over the past two years.
** GLU MOBILE INC, $2.87, up 4 pct (1012 ET)
The mobile games maker announced the availability of its new 3D fantasy, role-playing game “Heroes of Destiny”, which can be freely downloaded from Apple Inc’s App Store and Google Inc’s Google Play.
** QUICKLOGIC CORP, $2.51, up 4 pct (1025 ET)
Roth Capital started the chipmaker with a “buy” rating and a $3 price target, according to StreetInsider.com.
** SANDRIDGE ENERGY INC, $5.68, down 3 pct (0939 ET)
The company and activist hedge fund TPG-Axon Capital struck a deal on Wednesday that could lead to the removal of the oil and gas company’s chief executive, marking the second time in two months that allegations of self-dealing and poor performance have shaken a U.S. energy firm.
** AMAZON.COM INC, $267.80, down 3 pct (0944 ET)
JP Morgan cut its rating on the stock to “neutral” from “overweight”, saying an analysis of the world’s biggest Internet retailer’s key business lines suggests a slower growth in gross profit in 2013. It slashed its price target on the stock by $33 to $300.
“The key drivers of gross profit deceleration are: moderating growth in third-party sales from 51 percent in 2012 to 37 percent in 2013; 2) first-party gross profit margin potentially contracting due to international expansion and rebounding eReader/Tablet sales; and 3) tougher comps,” analyst Doug Anmuth wrote in a note.
Amazon said on Wednesday it cut the price of its largest Kindle Fire tablet.
** CALLIDUS SOFTWARE INC, $4.76, down 3 pct (1006 ET)
The company said its chief financial officer of ten years, Ron Fior, was leaving. Fior will remain with the company till July 31.
** EBAY INC, $52.25, up 2.5 pct (0944 ET)
Evercore Partners raised its rating on the e-commerce company’s stock to “overweight” from “equal weight” following a sell off of its shares. Ebay’s stock fell on Wednesday after MasterCard Inc spoke about potential fee increases to EBay’s PayPal payments business. EBay had disclosed this in its annual report in February.
“We estimate the impact to be less than 50 basis points of PayPal’s margin, even assuming a full year’s worth of pro-forma impact at a 50 percent increase (by MasterCard),” Evercore analysts said.
** BLACKBERRY, $15.89, up 1.5 pct (0945 ET)
The company’s volatile shares surged on Wednesday after the smartphone maker said one of its established partners had placed an order for 1 million BlackBerry 10 smartphones, with shipments set to begin immediately.
The Waterloo, Ontario-based company said it is the largest ever single purchase order in its history, a big fillip for the company. (Compiled by Pallavi Ail in Bangalore; Editing by Sreejiraj Eluvangal)