June 11, 2013 / 3:34 PM / 4 years ago

MARKET PULSE-Solar stocks, Bank stocks, Dole Food, Corinthian

9 Min Read

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June 11 (Reuters) - Some U.S. stocks on the move on Tuesday:

Wall St Down as Boj Decision Fuels Stimulus Worries

U.S. stocks fell after the Bank of Japan chose not to take stimulus measures and increased investors' worries about the eventual decline in central bank support that has supported equities' rally.

The Dow Jones industrial average was down 80.45 points, or 0.53 percent, at 15,158.14. The Standard & Poor's 500 Index was down 10.86 points, or 0.66 percent, at 1,631.95. The Nasdaq Composite Index was down 21.97 points, or 0.63 percent, at 3,451.80.

** DOLE FOOD CO INC, $12.35, up 21 pct (1235 ET)

One of the world's largest producers and marketers of fruit and fresh vegetables received an unsolicited buyout offer from 90-year-old Chief Executive David Murdock, valuing the company at just over $1 billion.

** COCA-COLA ENTERPRISES INC, $35.99, down 3 pct (1123 ET)

The European bottler of Coca-Cola warned that persistent economic weakness in Europe, bad weather, a sharp excise tax increase in France and fierce competition in Britain have dampened its outlook for the second quarter.

** CORINTHIAN COLLEGES INC, $2.46, down 12 pct (1049 ET)

The U.S. education company said it received a subpoena from the Securities and Exchange Commission requesting documents relating to student information in recruitment, attendance, placement, defaults on federal loans.

** CARDIONET INC, $4.86, up 49 pct (1050 ET)

The company said its heart-monitoring solutions will receive insurance coverage from UnitedHealthcare Insurance Co from July 1. CardioNet said the three-year agreement would apply to all of the insurer's affiliates including managed Medicare and Medicaid plans.

** MORGAN STANLEY $26.38, down 2.8 pct (1031 ET)

** GOLDMAN SACHS $165.23, down 1.3 pct (1031 ET)

** JPMORGAN $53.42, down 1.7 pct at (1031 ET)

** CITIGROUP $50.00, down 3.7 pct at (1031 ET)

World equity markets, the dollar, bond prices and commodities slumped on Tuesday in a full-scale retreat by investors unnerved by fears that major central banks are cooling in their commitment to the money-pumping that has buoyed markets.

The decline was initially triggered in Tokyo when the Bank of Japan elected not to take any fresh measures to tackle rising government bond yields that threaten to thwart its $1.4 trillion stimulus program. Bank stocks were among those most affected.

** CATAMARAN CORP, $55.02, up 13 pct (1034 ET)

Six brokerage firms raised their price target on the pharmacy benefit manager's stock after health insurer Cigna Corp signed a 10-year agreement with the Canadian company.

ISI Group, Cantor Fitzgerald, Credit Suisse, UBS, Paradigm Capital and CIBC raised their price targets on the stock. "We view the agreement as positive, adding a long-term client, increasing purchasing power, and highlighting its tailored solutions," CIBC analyst Stephanie Price wrote in a note.

** MCEWEN MINING INC, $2.33, down 6 pct (0933 ET)

The gold miner lowered its annual production target to 225,000 gold equivalent ounces by 2016 from 290,000 gold equivalent ounces due to lower metal prices and higher cost of capital.

** CORNERSTONE ONDEMAND INC, $39.75, down 4 pct (1043 ET)

The HR software maker said on Monday it would offer convertible senior notes of $220 million principal due 2018 in a private placement.

** KINROSS GOLD CORP, $5.92, down 6 pct (0932 ET)

Analysts at Canaccord Genuity cut their rating on the gold miner's stock to "hold" from "buy" after the company said it would not proceed with the development of the Fruta del Norte project in Ecuador.

** SYNERGETICS USA INC, $3.72, up 5 pct (1008 ET)

The medical device maker reported a higher profit due to a nearly 16 percent rise in the sales of its opthalmic and neurosurgical devices.

Net income for the quarter ended April 30 rose 14 percent to $1.15 million or 5 cents per share from $1 million, or 4 cents per share, a year earlier.

** QUESTCOR PHARMACEUTICALS INC, $48.23, up 31 pct (0934 ET)

The company said it had acquired rights to Synacthen, a rival to its flagship multiple sclerosis drug Acthar, from Novartis AG and its U.S. arm, Novartis Pharma AG, for $60 million.

The agreement gives Questcor rights to the drug and its injection formulation in the United States and certain other countries. Synacthen has not yet been approved by the U.S. Food and Drug Administration.

Questcor also agreed to make additional milestone payments of about $75 million over the next several years.

** DIAMOND FOODS INC, $18.88, up 7 pct (0934 ET)

The company said it will restate its consolidated financial statements for the three- and six-month periods ended Jan. 31 due to an error in calculation of diluted earnings per share.

** GAMESTOP INC, $38.18, up 8 pct (0935 ET)

The largest U.S. video game retailer said it is now taking pre-orders for Xbox One and PS4, the next generation of gaming consoles from Microsoft Corp and Sony Corp.

** SYMMETRY MEDICAL INC, $8.16, down 11 pct (1017 ET)

The medical device maker cut its full-year profit and revenue outlook, citing continued pressure and negative growth in surgical procedures in key markets.

Symmetry now expects full year earnings per share in the range of 40 cents to 50 cents per share. Analysts expected a profit of 63 cents per share, according to Thomson Reuters I/B/E/S.

** CROSSTEX ENERGY LP, $19.94, down 5 pct (0936 ET)

The pipeline company said it was offering 6 million units for sale and would use the proceeds to fund capital expenditure for already identified projects, including its Cajun-Sibon natural gas liquids pipeline expansion project.

** LDK SOLAR CO LTD, $1.50, down 8.5 pct (1037 ET)

** JINKO SOLAR CO LTD, $9.00, down 5.4 pct (1037 ET)

** JA SOLAR HOLDINGS CO LTD, $7.34, down 5.1 pct (1037 ET)

** TRINA SOLAR LTD, $5.82, down 5 pct (1037 ET)

** SUNTECH POWER HOLDINGS CO LTD, $0.99, down 4.8 pct (1037 ET)

** CANADIAN SOLAR INC, $9.69, down 4.5 pct (1037 ET)

** YINGLI GREEN ENERGY HOLDING CO LTD, $2.95, down 4 pct (1037 ET)

** FIRST SOLAR INC, $54.18, down 4 pct (1037 ET)

** RENESOLA LTD, $2.08, down 3.7 (1037 ET)

The Chinese solar panel maker reported its eighth quarterly loss in a row and said it was still in talks with its lenders and investors to refinance its roughly $3 billion of debt, sending its shares down more than 10 percent.

** ICICI BANK LTD $40.61, down 5.3 pct (1041 ET)

India's benchmark index fell more than 1 percent on Tuesday to its lowest close in more than 1-1/2 months, as the rupee tumbled to a record low, continuing to hit lenders such as ICICI Bank on dashed rate cut hopes.

** COASTAL CONTACTS INC, $4.86, down 17 pct (1035 ET)

The online retailer of contact lenses, eyeglasses and sunglasses reported second-quarter results below estimates on Monday, despite posting higher revenue.

** PROGENICS PHARMACEUTICALS, $4.28, up 16 pct (1035 ET)

** SALIX PHARMACEUTICALS LTD, $64.59, up 3.69 pct (1035 ET)

The companies said on Tuesday that the U.S. Food and Drug Administration will seek inputs from an advisory committee on Salix's application seeking a wider indication for its constipation drug, Relistor.

Progenics licensed the development and marketing rights on Relistor to Salix in 2011.

** LULULEMON ATHLETICA INC , $69.99, down 15 pct (0937 ET)

The premium yogawear chain, its fortunes dented by an embarrassing and costly recall of excessively see-through pants, said on Monday that Chief Executive Christine Day will step down once it finds a replacement.

** SPRINT NEXTEL CORP, $7.36, up 2.5 pct (0937 ET)

Japanese mobile operator SoftBank said it had agreed with Sprint to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish.

** HIMAX TECHNOLOGIES, $6.64, down 3 pct (1049 ET)

The Taiwanese chipmaker on Monday announced the commencement of an offering of 22 million American Depositary Shares (ADS) by shareholder Innolux Corp. (Compiled by Aditi Shrivastava; Editing by Sreejiraj Eluvangal)

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