May 30, 2013 / 3:18 PM / 4 years ago

MARKET PULSE-Clearwire, NV Energy, ARCA Biopharma, Express, Gold stocks

11 Min Read

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May 30 (Reuters) - Some U.S. stocks on the move on Thursday:

Wall Street Edges Higher as Data Reassures on Fed

U.S. stocks were higher as the latest data pointed to an economy that continued to struggle, suggesting that central bank stimulus measures will likely stay intact in the immediate future. The Dow Jones industrial average was up 39.41 points, or 0.26 percent, the Standard & Poor's 500 Index was up 6.58 points, or 0.40 percent, and the Nasdaq Composite Index was up 17.04 points, or 0.49 percent.

** DISH NETWORK CORP, $39.47, up 0.56 pct (1039 ET)

** CLEARWIRE CORP, $4.22, up 21 pct (1039 ET)

** SPRINT NEXTEL CORP, $7.22, down 0.82 pct (1040 ET)

Shares in Clearwire rose after Dish offered to buy the wireless operator for $4.40 per share, trumping the latest bid from Sprint Nextel, already Clearwire's majority shareholder.

** ARCA BIOPHARMA INC, $1.59, down 30.8 pct (1040 ET)

The company said it would offer about 125,000 shares its convertible preferred stock, together with warrants, to purchase about 6.25 million shares of its common stock at $160 per share. Each share of the preferred stock is convertible into 100 shares of common stock.

ARCA said each investor would receive a warrant to purchase 50 shares of common stock for each share of preferred stock purchased.

The company said it expects to raise about $18 million in net proceeds from the offering, which it will use to fund a mid-stage trial of its heart drug, working capital and general corporate purposes.

** BERKSHIRE HATHAWAY INC, $114.68, up 1.45 pct (1041 ET)

** NV ENERGY INC, $23.62, up 22.5 pct (1041 ET)

A Berkshire unit will pay $5.6 billion for NV Energy, the electric utility serving Las Vegas and its power-hungry casinos, in yet another large energy deal for Warren Buffett in the western United States.

** EMC CORP, $24.97, up 5.5 pct (1042 ET)

The company increased its share buyback program to $6 billion from $1 billion by end-2015 and said it would start paying out a quarterly cash dividend of 10 cents per share.

** APPLE INC, Wednesday close $446.18, up 0.27 pct (1043 ET)

A trade panel that specializes in patent cases will reconsider a split decision made by one of its judges in a long-running patent battle between Samsung Electronics Co Ltd and Apple.

Samsung unveiled a stripped down version of its flagship Galaxy S4 smartphone on Thursday, aiming to grab a bigger share in the mid-tier segment as growth in the high-end market slows.

** MICROSOFT CORP, $35.08, up 0.57 pct (1043 ET)

** VRINGO INC, $3.23, up 3.35 pct (1100 ET)

Microsoft has agreed to settle a lawsuit accusing it of infringing patents that enable Internet search engines to place advertisements most effectively. Vringo, whose I/P Engine Inc subsidiary filed the lawsuit in January, announced the settlement on Thursday. Microsoft has agreed to pay $1 million and enter into a licensing agreement as part of the agreement, according to Vringo's U.S. regulatory filings.

** FACEBOOK INC, $24.35, up 4.4 pct (1043 ET)

BMO Capital Markets and Jefferies & Co raised their ratings on the company' stock to "buy" or equivalent ratings. BMO said sentiment around Facebook advertising remains "quite positive".

Jefferies said concerns over declining engagement on the social network, particularly among the younger demographic, have created a buying opportunity.

** AMARIN CORPORATION PLC, $7.12, up 10.21 pct (1046 ET)

The drugmaker said additional data from a late-stage study showed that its heart drug Vascepa, when used along with another class of cholesterol drugs known as statins, significantly reduced the concentration of bad cholesterol in the blood when compared with a placebo. The company presented the data at a conference in Las Vegas.

** EXPRESS INC , $20.29, up 8 pct (1044 ET)

The specialty apparel and accessories retailer's first-quarter results beat estimates, helped by promotions for cheaper spring clothes, and the company forecast current-quarter profit above analysts' expectations.

** AVAGO TECHNOLOGIES LTD, $37.83, up 9.93 pct (1048 ET)

The chipmaker forecast current-quarter revenue largely above expectations, citing revival of demand from a large smartphone customer.

** BIG LOTS INC, $35.02, down 8.7 pct (1045 ET)

The close-out retailer forecast current-quarter earnings way below analysts' expectations. The company expects to earn between 17 cents to 27 cents per share on an adjusted basis, compared with the average analyst estimate of 43 cents per share. The company also lowered its full-year guidance range from continuing operations to between $2.87 and $3.12 per share from $3.05 to $3.25 per share.

** FIRST SOLAR INC, $55.75, up 7.76 pct (1054 ET)

Analysts at Goldman Sachs raised their rating on the solar device maker's stock to "buy" from "neutral", according to theflyonthewall.com.

** BARRICK GOLD CORP, $20.84, up 5.1 pct (0955 ET)

** KINROSS GOLD CORP, $6.14, up 4.8 pct (0955 ET)

** IAMGOLD CORP, $5.59, up 4.7 pct (0955 ET)

** AURICO GOLD INC, $5.04, up 4.3 pct (0955 ET)

** HARMONY GOLD MINING CO, $4.22, up 11.3 pct (0955 ET)

** ENDEAVOUR SILVER CORP, $4.45, up 6.2 pct (0955 ET)

** ELDORADO GOLD CORP, $8.00, up 6.2 pct (0955 ET)

** SEABRIDGE GOLD INC, $12.00, up 6.2 pct (0955 ET)

** DRDGOLD LTD, $5.59, up 6.1 pct (0955 ET)

** SILVERCORP METALS INC, $3.10, up 5.8 pct (0955 ET)

Gold edged up to around $1,400 an ounce, yet downside risk remained due to rebounding equities, while the dollar cut some of its earlier losses ahead of key U.S. data.

Gold rallied 1.3 percent to $1,410.51, its highest since May 22. It stood at $1,397.26 at 1206 GMT, up 0.4 percent. U.S. gold was up 0.5 percent to $1,398.10 an ounce.

Silver was up 0.4 percent at $22.58 an ounce.

** LEXICON PHARMACEUTICALS INC, $2.34, up 5.4 pct (1045 ET)

Jefferies analyst Thomas Wei initiated coverage on the company's stock with a "buy" rating and a price target of $3.50, saying that the company's drug LX4211 could be the best in its class to treat diabetes.

** FRONTLINE LTD, $2.00, down 6.9 pct (1051 ET)

The tanker arm of shipping tycoon John Fredriksen's business empire expects losses to widen in the second quarter and may struggle to repay a 2015 bond as the shipping crisis shows no sign of abating.

** RUCKUS WIRELESS, $12.29, up 5 pct (1036 ET)

Analysts at Needham & Co upgraded the WiFi products maker's stock to "buy" from "hold," saying that the recent dip in the company's share price provides an attractive entry point.

** FUSION-IO INC, $14.25, up 5 pct (1025 ET)

Analysts at Credit Suisse upgraded the memory drive maker to "outperform" from "neutral," saying that the company's fundamentals remain strong and said customer wins over the past 12 months will drive growth.

** SINOVAC BIOTECH LTD, $4.13, up 4.13 pct (1045 ET)

The China-based company said the Beijing Drug Administration accepted the marketing approval application for its vaccine to prevent hand, foot and mouth disease in infants.

** FORD MOTOR CO, $15.97, up 2.17 pct (1047 ET)

RBC Capital Markets raised its price target on Ford's stock to $18 from $15 as it expects the company to benefit from an improving auto industry in Europe and Asia.

** VANGUARD NATURAL RESOURCES LLC, $28.32, down 3.75 pct (1047 ET)

The oil and gas producer said it would sell 7 million common shares and intends to use the proceeds to repay debt under its senior secured revolving credit facility.

** HIMAX TECHNOLOGIES INC, $6.87, up 3.15 pct (1049 ET)

Oppenheimer initiated coverage on the Taiwanese chipmaker with an "outperform" rating, Streetinsider.com reported. The brokerage put a $9 price target on the stock.

Shares of the company, which makes chips used in flat panel displays and display drivers, have more than tripled in value in the past year.

** NEUTRAL TANDEM INC, $5.87, up 2.8 pct (1049 ET)

The network connectivity services provider declared a special dividend of $1.25 per share on Wednesday. It also declared an initial regular quarterly dividend of 6.25 cents per share.

** BOARDWALK PIPELINE PARTNERS LP, $29.93, down 4.34 percent (1049 ET)

The midstream master limited partnership said it will offer 11 million common units and use the proceeds to maintain its 2 percent general partner interest, repay debt and fund capital expenditures for growth projects.

** D.R. HORTON INC, $24.90, up 2 pct (0943 ET)

** PULTEGROUP INC, $22.30, up 1 pct (0943 ET)

** TOLL BROTHERS INC, $34.80, up 1 pct (0943 ET)

** LENNAR CORP, $40.88, up 1.2 pct (0944 ET)

** KB HOME, $22.77, up 1.2 pct (0944 ET)

Sales of U.S. homes in foreclosure fell in the first quarter, a report from RealtyTrac showed on Thursday, the latest data to suggest the housing market is on the mend.

** VOLCANO CORP, $18.94, up 5 pct (1001 ET)

JMP Securities analyst J.T. Haresco upgraded the stock to "market outperform" from "market perform," saying the company's pipeline should begin to yield new products in 2014 and an improving gross margin profile should help drive profitability.

Haresco set a $26 price target on the stock.

** AUTONATION INC, $45.76, down 2.67 pct (1052 ET)

** SONIC AUTOMOTIVE INC, $22.91, down 3.3 pct (1052 ET)

Analysts at UBS cut their rating on the U.S. auto dealers to "sell" from "neutral", according to theflyonthewall.com.

** AVISTA CORP, $27.00, up 1.92 pct (1052 ET)

Director John Taylor sold 4000 shares of the energy company at $26.55 per share, a slight premium to the stock's closing on Wednesday.

** GLU MOBILE INC, $2.75, up 3.3 pct (1053 ET)

The company will allow U.S. players to win cash in one of its mobile games starting next month, betting that cash-based contests will be a winning formula to expand revenue in the fledgling but potentially high-growth mobile gaming sector.

** COSTCO WHOLESALE CORP, $114.42, up 1.3 pct (1053 ET)

The largest U.S. warehouse club chain reported third-quarter profit just above analysts' estimates, as its low prices for food and gasoline appealed to shoppers.

** TESLA MOTORS INC, $107.50, up 2.7 pct (1054 ET)

The company's Chief Executive Elon Musk said on Wednesday the company will triple its network of superchargers for electrical vehicles by the end of next month.

** BOSTON PRIVATE FINANCIAL HOLDINGS INC, $9.97, down 2.4 pct (1054 ET)

The bank holding company said BP Holdco LP, an affiliate of The Carlyle Group LP, will sell 3.9 million shares of its common stock. (Compiled by Neha Alawadhi; Editing by Sriraj Kalluvila)

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