November 8, 2013 / 8:33 PM / 4 years ago

MARKET PULSE-Banks, homebuilders, Santarus, Infinity Pharma

19 Min Read

(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/nex49s) U.S. stocks extended gain on Friday after a sharp selloff the previous session and following data that showed U.S. job growth unexpectedly accelerated in October. The Dow Jones industrial average was up 0.56 percent, the S&P 500 was up 0.87 percent and the Nasdaq Composite was up 1.37 percent.

** CITI GROUP INC, $49.70, up 2.7 pct

** BANK OF AMERICA CORP, $14.19, up 2.8 pct

** WELLS FARGO & CO, $42.56, up 2 pct

** JPMORGAN CHASE & CO, $53.19, up 3 pct

** METLIFE INC, $50.04, up 5.1 pct (11:27 A.M. ET)

** PRUDENTIAL FINANCIAL INC, $87.41, up 4.3 pct

** LINCOLN NATIONAL CORP, $48.92, up 5.9 pct

Stocks of U.S. banks and insurers rose as unexpectedly strong payrolls report increased the possibility the Federal Reserve could begin to scale back its bond-buying program of $85 billion a month before the end of the year, boosting the interest rates.

** D.R. HORTON INC, $18.22, down 2 pct (9:35 a.m. ET)

** PULTEGROUP INC, $17.21, down 2 pct

** TOLL BROTHERS INC, $32.27, down 1.3 pct

** LENNAR CORP, $33.46, down 2 pct

** KB HOME, $16.15, down 2 pct

** THE RYLAND GROUP INC $36.60, down 5 pct

U.S. job growth unexpectedly accelerated in October, raising expectations that the U.S. Federal Reserve will curtail its bond-buying program earlier than most economists were anticipating. Reducing the stimulus put in place to support the U.S. economy after the downturn of 2008-2010 will lead to a rise in mortgage rates and likely hurt demand for new homes.

** TWITTER INC, $43.64, down 3 pct (10:11 a.m. ET)

The micro-blogging site's shares jumped 73 percent in a frenzied trading debut on Thursday that drove the seven-year-old company's market value to around $25 billion and evoked the heady days of the dot-com bubble.

** SANTARUS INC, $31.98, up 38 pct (9:53 a.m. ET)

** SALIX PHARMACEUTICALS LTD, $80.24, up 12.5 pct

Salix said it will buy Santarus for about $2.6 billion, gaining two new gastroenterology drugs to strengthen its leading presence in that market. Salix's $32 per share offer is a 37 percent premium to Santarus' Thursday close.

** TREMOR VIDEO INC, $4.48, down 51 pct (9:50 a.m. ET)

The online video advertising provider reported lower-than-expected third-quarter results on Thursday and cut its revenue forecast for 2013. Canaccord Genuity cuts its rating on the stock to "hold" from "buy" and its price target by $3.50 to $9.

** NETSOL TECHNOLOGIES INC $5.34, down 28.61 pct (12:19 p.m. ET)

The company, which provides software and IT services for financial, automotive leasing and healthcare industries, reported first-quarter results below analysts' estimates as delays in closing new business deals hurt licensing revenue.

** HORIZON PHARMA INC, $4.50, up 20 pct (9:50 a.m. ET)

The specialty pharmaceutical company reported a narrower-than-expected quarterly loss on strong sales of its arthritis treatment Duexis.

** YOU ON DEMAND HOLDINGS INC, $2.70, up 19 pct (11:51 a.m. ET)

The Chinese video-on demand provider signed a distribution agreement with Huawei to offer feature films through You On Demand's mobile app - You Cinema. The company said by Nov. 11, the You Cinema app will come preloaded on Huawei Mate smartphones.

The stock was trading nearly nine times its average 10-day volume.

** RIVERBED TECHNOLOGY INC, $17.63, up 16.67 pct (1:53 p.m. ET)

Affiliates of activist hedge fund Elliott Management Corp disclosed a stake of about 9 percent in the network equipment maker.

** TESLA MOTORS INC, $137.66, down 1.5 pct (9:49 a.m. ET)

Tesla's shares continued their fall since Thursday when the company reported the third fire in its Model S luxury electric car in six weeks, this time after a highway accident in Tennessee.

** SEQUENOM INC, $2.10, up 24 pct (9:49 a.m. ET)

The genetic testing company reported a smaller-than-expected third-quarter loss on Thursday due to higher sales of its prenatal test designed to detect fetal chromosomal abnormalities.

** REVOLUTION LIGHTING TECHNOLOGIES INC, $3.29, up 21 pct (10:25 a.m. ET)

The LED bulb maker reported strong third-quarter results and said it expected revenue to increase significantly in the current quarter due to higher LED adoption across commercial, industrial and municipal markets.

** HALOZYME INC, $13.25, up 22 pct (02:26 p.m. ET)

The drugmaker on Friday reported that its third-quarter revenue tripled to $16 million, helping its stock rise to its highest level in over a year-and-a-half. Higher product sales also helped the company post a smaller loss than a year earlier.

** NUPATHE INC, $2.18, up 23 pct (02:18 p.m. ET)

A report on the investment website SmallCap Network on Thursday called the biopharmaceutical company's stock a "compelling buy," saying that the stock manages to make gains even when the wider market is down. NuPathe shares took a big hit in October and are "ripe for a rebound," the report further stated. (r.reuters.com/xyt54v)

** ACETO CORP, $19.55, up 20 pct (2:34 p.m. ET)

The drugmaker's quarterly profit more than doubled on strong demand for its products, especially in the human health and pharmaceutical ingredients units, which grew about 47 percent.

** HMS HOLDINGS INC, $22.5, up 20 pct (02:34 p.m. ET)

The healthcare-benefits company tightened its full-year forecast ranges for revenue and profit after reporting smaller-than-expected earnings for the third quarter, hurt by legal and restructuring charges.

** UNIVERSAL DISPLAY CORP, $34.22, up 17 pct (9:48 a.m. ET)

The LED supplier reported a surprise quarterly profit and better-than-expected revenue as its red and green emitters were used in a number of new products. The company also forecast full-year 2013 revenue well above estimates, prompting at least two brokerages to increase their price target on the company's stock.

** UBIQUITI NETWORKS INC $43.34, up 16 pct (10:09 a.m. ET)

The company reported better-than-expected first-quarter results as demand rose for its wireless products and forecast second-quarter results above analysts' estimates. {ID:nPn8Qhckl]

** NEKTAR THERAPEUTICS, $10.50, up 17 pct (10:47 a.m. ET)

The company reported a smaller-than-expected loss in the third quarter due to a $25 million milestone payment from its partner AstraZeneca Plc and an increase in product sales.

** EZCORP INC, $11.56, down 15 pct (2:34 p.m. ET)

The pawn broker and payday lender posted a surprise quarterly loss, hurt by the combined effect of reduced gold volumes and prices in the quarter.

Brokerages Stephens and FBR Capital Markets reduced the target price on the company's stock.

** ERICKSON AIR-CRANE INC, $16.37, down 13.5 pct (02:10 p.m. ET)

The manufacturer of heavy-lift helicopters cut its full-year revenue forecast after reporting lower-than-expected quarterly profit and revenue. Revenue jumped 58 percent in the quarter, mainly due to the Evergreen Helicopters acquisition. Revenue from its legacy business was down for the quarter, the company said. Erickson now expects reported revenue of between $310 million and $320 million in 2013, down from $325 million -$335 million.

** OXYGEN BIOTHERAPEUTICS INC, $6.63, up 11 pct (11:46 a.m. ET)

The company said it received about $6 million through the exercise of about $2.3 million warrants earlier this week, increasing its cash on hand to about $8.4 million.

** EMERGENT BIOSOLUTIONS INC, $20.50, up 11 pct (12:01 p.m. ET)

The specialty pharmaceutical company reported better-than expected results in the third quarter due to strong sales of its anthrax vaccine and its skin decontamination lotion and raised the lower end of its full-year revenue forecast by $10 million. It now expects $300 million-$310 million.

** SMART TECHNOLOGIES INC, $2.33, down 12 pct (2:00 p.m. ET)

The Canadian education software maker reported a 20 percent drop in second-quarter profit, hurt by decline in revenue from its North America, as well as Europe, the Middle East and Africa regions.

** PRICELINE.COM INC, $1052.55, up 3 pct (9:46 a.m. ET)

The online travel agency known for its name-your-own price auction, posted a higher-than-expected quarterly profit on Thursday as bookings increased.

** INFINITY PHARMACEUTICALS INC, $13.40, up 12 pct (11:00 a.m. ET)

The company reported a narrower-than-expected loss in the third quarter and said it was on track to start a late-stage trial of its blood cancer drug in the fourth quarter. The company also said it expected to announce additional studies of the drug in 2014.

** APPROACH RESOURCES INC, $24.41, down 12 pct (10:31 a.m. ET)

The U.S. oil and gas company said it had amended its credit agreement to increase its borrowing base to $350 million from $315 million.

** AUTOBYTEL INC, $9.29, up 12 pct (9.42 a.m. ET)

The company, which connects auto dealers with prospective customers, reported a 24 percent rise in quarterly revenue as an improving U.S. economy prompts more Americans to buy vehicles.

** INTRALINKS HOLDINGS INC, $11.17, up 12 pct (11:29 a.m. ET)

The company, which provides hosted software for enterprises, reported better-than-expected quarterly results and forecast a fourth quarter above estimates, helped by strong revenue growth from mergers and acquisitions.

** FORBES ENERGY SERVICES LTD, $3.92, down 13.7 pct (11:40 a.m. ET)

The oilfield services contractor reported a much wider-than-expected third-quarter loss, as a glut in the market hurt demand for its trucking and rental services and pricing.

** MAGNUM HUNTER RESOURCES CORP, $7.27, up 12.5 pct (12:50 p.m. ET)

The oil and gas producer's quaterly net loss narrowed as oil and gas revenue shot up 80 percent.

** ARENA PHARMACEUTICALS INC, $4.58, up 12 pct (9:40 a.m. ET)

The company said Japanese drugmaker Eisai Co Ltd will market its diet drug in most markets worldwide as part of an expanded agreement, under which the companies will also develop the drug for other indications.

** KRATOS DEFENSE & SECURITY SOLUTIONS, $7.10, down 12 pct

The security products and services provider posted a third-quarter loss and said order flow, new contract awards and cash receipts have been delayed due to the U.S. government shutdown. The company said it expects to report full-year revenue of $955 million-$975 million, below the average analyst estimate of $977.9 million, according to Thomson Reuters I/B/E/S.

** AIR METHODS CORP, $49.56, up 12 pct (9:46 a.m. ET)

The company, which provides air medical transport services, reported better-than-expected revenue in the third quarter, due to an increase in net revenue per patient transport.

** INTREXON CORP, $19.50, up 10.5 percent (1:23 p.m. ET)

The synthetic biology company reported a surprise profit, due to an increase in revenue from collaborations and research and development services.

** NELNET INC, $44.74, up 9 pct (11:34 a.m. ET)

The education services company reported a 70 percent rise in third-quarter profit and said the U.S. Department of Education intends to extend its servicing agreement with the company for five years. The department ranks the performance of its servicers quarterly, based on which, the company was ranked first and will be allocated 30 percent of new loan volume originated by the department.

** SHUTTERSTOCK INC, $72.01, up 8 pct (1:58 pm ET)

The digital photo content and services provider reported better-than-expected third-quarter results and raised its full-year revenue forecast to $231 million-$233 million, above analysts' estimates of $228 million.

** BRISTOW GROUP INC, $84.07, up 8 pct (11:54 a.m. ET)

The company, which provides helicopter services to the offshore energy industry, reported better-than-expected results on Thursday, helped by improved pricing and increased activity in Europe and West Africa.

** SOFUN HOLDINGS LTS, $55.78, up 8.5 pct (11:48 a.m. ET)

The operator of China's largest real estate internet portal reported third-quarter results way above Wall Street estimates and raised its full-year revenue forecast, helped by strength in its wireless and internet businesses. Revenue at the company rose about 45 percent.

** AVG TECHNOLOGIES NV, $17.97, down 8 pct (9:44 a.m. ET)

The anti-virus software maker reported lower-than-expected third-quarter revenue on Thursday and forecast current-quarter revenue well below expectations, prompting brokerage J.P. Morgan Securities to cut its rating to "neutral" from "overweight" on the company's stock. Cowen & Co lowered its price target to $18.50 from $22 on the stock.

** THE JONES GROUP INC, $13.92, down 8.4 pct (10:00 a.m. ET)

G-III Apparel Group Ltd has dropped out of the bidding process for Jones' apparel business, fashion website Women's Wear Daily reported, citing two sources. (link.reuters.com/cus54v)

** BONANZA CREEK ENERGY INC, $49.70, up 5 pct (09.55 a.m. ET)

The oil and gas producer reported a better-than-expected profit on Thursday, helped by higher production of more lucrative natural gas liquids and lower operating expenses, prompting at least three brokerages to raise their price targets on the stock.

** FX ENERGY, $3.39, down 7.3 pct (9:36 ET)

The oil and gas producer reported a bigger-than-expected loss for the third quarter, due to lower production at its Zaniemysl and Roszkow wells as well as a 2 week shut-in at its KSK wells in Poland.

** MATADOR RESOURCES CO, $20.41, up 7 pct (1:22 a.m. ET)

Analysts at Wunderlich Securities raised their price target on the oil and gas producer to $25 from $23, after the company reported strong third-quarter results as output and gas prices rose and costs fell.

** PIXELWORKS INC, $3.91, down 11 pct (9:43 a.m. ET)

The digital display chip maker's third-quarter results came in below analysts' expectations on Thursday due to lower chip revenue.

** GROUPON INC, $10.10, up 6 pct (9:42 a.m. ET)

The daily coupon website reported a third-quarter profit that beat analysts' estimates as strong growth in North America helped offset a decline in international revenue.

** FIREEYE INC, $41.23, up 8 pct (9:41 a.m. ET)

The technology firm that helps companies fend off cyber attacks gave a revenue outlook for 2014 that came in ahead of Wall Street forecasts as it posted results for the first time since it went public in September in one of this year's hottest IPOs.

** GAP INC, $40.50, up 7 pct (9:40 a.m. ET)

The apparel chain's October same-store sales rose 4 percent, well ahead of the analysts' average estimate of 0.1 percent.

** COSTA INC, $21.51, up 7 pct (9:37 a.m. ET)

Essilor International said it would buy Costa, a maker of premium sport sunglasses, in a $270 million deal that would help the French company tap into the growing prescription sun lens market.

** ION GEOPHYSICAL CORP, $3.76, up 5 pct (11:08 a.m. ET)

Demand for the company's seismic data processing businesses was improving in the Gulf of Mexico, Europe, Africa and the Middle East, Barclays Capital analysts wrote in a note. The analysts, however, cut their price target on the stock to $6 from $9, citing lower-than-expected results in the third quarter. The stock fell about 25 percent on Thursday after the company reported a surprise loss.

** ATLANTIC POWER CORP, $3.91, down 9 pct (10:06 a.m. ET)

The Canadian power producer reported a wider-than-expected loss for the third quarter, due to a drop in project revenue.

** VAALCO ENERGY INC, $5.58, up 9.4 pct (12:01 p.m. ET)

The energy company's third-quarter net profit jumped 22 times to $2.4 million, or 4 cents per share.

** CUBESMART, $16.90, down 4 pct (11:28 a.m. ET)

The real estate company that focuses on the development of self-storage facilities forecast current-quarter funds from operations below analysts' estimates.

** ATLANTIC POWER CORP, $3.91, down 9 pct (10:06 a.m. ET)

The Canadian power producer reported a wider-than-expected loss for the third quarter, due to a drop in project revenue.

** AMARIN CORP, $1.57, up 11 pct (9:42 a.m. ET)

The drugmaker reported a smaller-than-expected third-quarter loss on Thursday as sales of its fish-oil drug Vascepa, which lowers a type of blood fat, jumped 52 percent from the second quarter. Total prescriptions for Vascepa were up 58 percent from the preceding quarter, Amarin said in a statement.

** SPROUTS FARMERS MARKET INC, $45.09, down 3 pct (9:42 a.m. ET)

The retailer of natural and organic foods on Thursday said affiliates of Apollo Global Management LLC, and certain other stockholders, will sell up to 22.5 million shares in a secondary offering.

** NVIDIA CORP, $15.10, up 3 pct (9:38 a.m. ET)

The graphics chipmaker gave a revenue forecast for the current quarter that was shy of Wall Street's expectations as the company faces tough competition in tablets and a slow personal computer market.

** JUST ENERGY GROUP INC, $6.76, down 5 pct (12:05 p.m. ET)

The retailer of natural gas and electricity reported a wider-than-expected loss on Thursday, as it added fewer customers in the second quarter.

** ACCURAY INC, $5.49, up 4 pct (9:45 a.m. ET)

The radiation therapy provider reported first-quarter revenue that beat analysts' estimates as it installed 14 systems in the quarter, increasing the number of systems installed worlwide to 706.

** U.S. SILICA HOLDINGS INC, $31.20, down 4.7 pct (9:45 a.m. ET)

Analysts at Jefferies & Co lowered their 2015 earnings estimate for the commercial silica maker, citing delayed start-up of Greenfield site near Utica, Illinois. Analysts at Cowen & Co lowered their full-year 2014 profit outlook to account for lower-than-expected volumes of industrial and specialty silica products, and expected fall in sales of resin coated sand.

** PEABODY ENERGY CORP, $20.71, up 3 pct (10:28 a.m. ET)

Analysts at Goldman Sachs raised their rating on the coal miner's stock to "buy" from "neutral", citing the company's potential for continued cost cutting, volume growth in Australia and expected improvement in metallurgical coal prices.

** DURECT CORP, $1.42, down 7 pct (9:48 a.m. ET)

The drugmaker said it is offering shares in an underwritten public offering. The company had about 102 million shares outstanding as of Thursday.

** INSULET CORP, $35.74, down 4 pct (9:47 a.m. ET)

The medical device maker reported a much bigger-than-expected third-quarter loss on Thursday as operating expenses rose due to the settlement of a patent lawsuit with Medtronic Inc and the launch of a version of its insulin management system OmniPod.

** MONSTER BEVERAGE CORP, $55.43, down 3 pct (9:47 a.m. ET)

The energy drinks maker reported a third-quarter profit that missed analysts' estimates, hurt by legal costs related to its Monster Energy drinks.

** BOX SHIPS INC, $3.70, down 4 pct (10:40 a.m. ET)

The container shipping company late on Thursday said it halved its quarterly dividend to 6 cents per share to preserve cash as the containership market has not shown any signs of a rebound. Only about half of its ships have been hired for 2014 so far and for low rates, the company said.

Compiled by Natalie Grover; Editing by Don Sebastian

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