September 19, 2014 / 4:44 PM / in 3 years

BUZZ-U.S. Stocks on the Move-Alibaba, Pro-Dex, ITT Education

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes were little changed on Friday. The Dow Jones industrial average was up 0.22 percent at 17,304.43, the S&P 500 was up 0.05 percent at 2,012.39 and the Nasdaq Composite was down 0.43 percent at 4,573.617.

** ALIBABA GROUP HOLDING LTD, $90.4, +32.94 pct

** YAHOO INC, $39.71, -5.64 pct

** AMAZON.COM INC, $329, +1.23 pct

Alibaba’s shares rose as much as 46.6 percent in their first day of trading on Friday, lifting the Chinese online retailer’s value to $245.76 billion. The company’s initial public offering, on track to be the biggest ever if underwriters exercise their option to sell more shares, will help fund Alibaba’s expansion in the United States and elsewhere. The sale raised more than $8.2 billion for the company after fees for underwriters, and about $13 billion for major shareholders, including Yahoo.

Shares of online retailer Amazon.com also rose.

** CHINANET ONLINE HOLDINGS INC, $2.535, +148.53 pct

The Chinese advertisement company said it was in discussions with Taobao, the online shopping site owned by Alibaba Group Holding Ltd, to provide targeted marketing service “Micro-Sell 360”. ChinaNet also said it would focus on offering digital advertising and analytics services to small and medium businesses to boost growth.

** DRESSER-RAND GROUP INC, $80.85, +10.71 pct

Germany’s Siemens plans to offer more than $6.1 billion, or $80 per share, for the U.S. compressor and turbine maker, Germany’s Manager Magazin said on Friday.

** ITT EDUCATION SERVICES INC, $4.8, -37.25 pct

The for-profit college operator disclosed on Friday that it might face civil charges by the U.S. securities regulator following investigations related to two private education loan programs for its students.

** PRO-DEX INC, $2.795, +27.05 pct

The surgical and dental device maker swung to a profit in the fourth quarter, helped primarily by higher product sales and lower costs.

** TIBCO SOFTWARE INC, $19.82, -4.67 pct

Susquehanna cut its price target on the stock to $18 from $19, but maintains its “neutral” rating. “Tibco is facing a fundamentally structural and operational challenge that will take several quarters to improve as it transitions its go-to-market focus and product focus (subscriptions),” analyst J. Derrick Wood wrote in a note.

** CONCUR TECHNOLOGIES INC, $127.19, +17.99 pct

German business software maker SAP SE said on Thursday it had agreed to acquire U.S.-based expense management software maker Concur in a cash deal valued at $7.3 billion that expands its presence in internet-based software or so-called cloud computing.

** FAIRWAY GROUP HOLDINGS CORP, $4.06, +7.98 pct

The natural and organic food products maker said its next CEO would be Jack Murphy, who has strong experience in specialty food retailing. Murphy has experience required to run a company focused on store growth and he brings knowledge of working in the natural and organic foods space, Jefferies and Co analysts said.

** MOLYCORP INC, $1.34, +2.29 pct

Oaktree Capital Group LLC reported a 9.1 percent passive stake in the company as of Sept. 11.

Oaktree agreed in August to provide the company up to $400 million.

** ROCKWELL COLLINS INC, $79.91, +2.71 pct

The avionics maker forecast the mid point of its 2015 earnings per share above the average analyst estimate. Rockwell said it expected 2015 revenue in its second-largest commercial systems business, which makes aviation electronics, to rise in high single digit percentage terms.

** MICROVISION INC, $1.9899, +3.64 pct

The company said it received orders valued at about $1.9 million for high-definition display modules being developed by a “Fortune Global 100 customer.” Microvision said it expected the shipment of components to begin in the fourth quarter and extend into the first quarter of 2015.

** RED HAT INC, $57.47, -5.26 pct

The world’s largest commercial distributor of the Linux operating system forecast quarterly revenue below analysts’ estimates. Red Hat’s billings growth of 17 percent for the second quarter also disappointed investors, said Derrick Wood, an analyst with Susquehanna Financial Group.

** ORACLE CORP, $39.61, -4.67 pct

Larry Ellison, co-founder and leader of Oracle for 37 years, stepped aside as chief executive officer on Thursday, to be replaced by co-CEOs Safra Catz and Mark Hurd, raising questions about a job-sharing arrangement that has had a fraught record elsewhere. Oracle also reported a lower-than-expected quarterly profit, hurt by weak hardware sales.

** MICROSOFT CORP, $46.85, +0.36 pct

The company will close its Silicon Valley research and development operation as part of 2,100 layoffs announced on Thursday, as it moves toward its new CEO’s goal of cutting 18,000 staff, or about 14 percent of its workforce.

** JETBLUE AIRWAYS, $11.48, +1.32 pct

The company named on Thursday Robin Hayes, its current president and a former British Airways executive, to succeed Dave Barger as chief executive.

** GLU MOBILE INC, $5.18, -2.63 pct

The mobile game developer will offer up to 9.9 million shares at $5.135 per share, which represents a 3.5 percent discount to the stock's Thursday close. (1.usa.gov/1yjileW)

The stock shelf offering, valued at up to about $51.3 million, is related to Glu Mobile’s acquisition of Cie Games Inc in July.

** ATHENAHEALTH INC, $136.2, +4.98 pct

The U.S. electronic health record provider, and Cerner Corp , said on Thursday they were working with Apple Inc to develop applications that leverage Apple’s mobile health service HealthKit.

** TRANSCANADA CORP, $56.34, +1.48 pct

The Calgary-based company is emerging as a possible target, with several U.S. activist hedge funds reviewing the nearly $38 billion pipeline operator as a break-up candidate, people close to the matter said. Discussions about a potential campaign are still in the early stages, but some of TransCanada’s largest shareholders have been contacted by hedge funds interested in shaking up one of North America’s biggest pipeline companies, the people said.

** CARBO CERAMICS INC, $88.45, -5.79 pct

Goldman Sachs cut its rating on the company’s stock to “sell” from “neutral,” only the second such rating among 13 brokerages tracking the company. The brokerage also cut its price target to $71 from $104, the lowest on the stock.

Analysts said ceramic proppant sales are below their estimates, hurt by a preference for using more sand as well as competition from cheaper and, in some cases, higher quality Chinese imports. (Compiled by Amrutha Penumudi in Bangalore; Editing by Kirti Pandey)

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