9 Min Read
(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. stocks were higher on Friday after the September jobs report came in ahead of expectations, though major indexes remained on track for a second straight weekly decline. The Dow Jones industrial average was up 1.20 percent at 17,003.11 and the S&P 500 was up 1.14 percent at 1,968.42.
** WAVE SYSTEMS CORP, $1.2668, +29.27 pct
** VASCO DATA SECURITY INTERNATIONAL INC, $20.22, +7.84 pct
** CYBERARK SOFTWARE LTD, $30.5298, +6.41 pct
Data security software makers' shares rose after JPMorgan Chase & Co revealed one of the biggest data breaches in history.
The bank said its computer systems compromised some 83 million accounts.
** YODLEE INC, $17.24, +43.67 pct
Shares of Yodlee, which is backed by private equity firm Warburg Pincus, rose about 45 percent in their debut, valuing the provider of software to financial companies at nearly $500 million.
** ROCKWELL MEDICAL INC, $11.1732, +21.71 pct
The drug developer signed a marketing agreement with a unit of Baxter International Inc, according to which Baxter will sell Rockwell's hemodialysis solutions and powders in the United States and selected overseas markets for 10 years.
Baxter will pay $20 million in cash for exclusive commercial rights and buy $15 million of company's common stock, Rockwell said.
** DURATA THERAPEUTICS INC, $13.72, +15.98 pct
The company said it received a special protocol assessment agreement from the U.S. Food and Drug Administration for its late-stage study on its pneumonia drug, Dalvance.
A special protocol assessment agreement is a declaration by the FDA that the company's trial design and endpoints are acceptable for an approval.
** CLIFFS NATURAL RESOURCES, $8.59, -14.10 pct
Nomura cut its rating on the stock to "reduce" from "buy", and price target to $5 from $18. Analysts at Nomura forecast that the company would report a loss in fiscal 2014.
They said a fall in iron ore prices this year has "significant negative implications for medium-term earnings and should severely limit strategic options with regards to potential asset sales."
** APCO OIL AND GAS INTERNATIONAL INC, $14.4, +13.92 pct
Privately held Pluspetrol Resources Corp will buy the oil and gas company in a deal valued at $427 million.
** PALO ALTO NETWORKS INC, $104.959, +6.90 pct
Brokerage Piper Jaffray raised its price target on the stock to $120 from $110, saying demand for the company's products in the third quarter was higher than those for rivals' products.
** MYLAN INC, $50.25, +8.06 pct
The company's shares rose on rumors of a merger with Teva Pharmaceuticals, according to Benzinga.com. (bit.ly/1BDiztJ)
Mylan also raised its third-quarter adjusted profit forecast to $1.12-$1.16 per share from 90-95 cents per share, citing stronger-than-expected operational performance.
The purchase price of $14.50 per share represents an 18 percent premium to Apco's closing share price on Oct. 1.
** MEDTRONIC INC, $65.07, +3.61 pct
** COVIDIEN PLC, $93.94, +5.78 pct
Medical device maker Medtronic said it was committed to buying Dublin-based Covidien, adding that it will use $16 billion in external financing to buy the company.
** TEKMIRA PHARMACEUTICALS CORP, $27.9, +9.54 pct
The company said it had achieved a $1.5 million development milestone. Maxim raised its price target on the stock to $31 from $23.
** BARRICK GOLD CORP, $14.15, -3.74 pct
** YAMANA GOLD INC, $5.77, -5.72 pct
** PAN AMERICAN SILVER CORP, $10.25, -6.05 pct
** SILVER STANDARD RESOURCES, $5.525, -6.51 pct
Spot gold price slipped 19.4 percent to a 10-month low of $1,193.95 an ounce on Friday. Gold prices fell below $1,200 an ounce for the first time this year as U.S. dollar jumped due to better-than expected U.S. non-farm payroll data.
Silver prices fell 0.3 percent to $16.76 an ounce, their lowest in four years.
** RIO TINTO PLC, $47.49, -3.06 pct
Turquoise Hill Resources Ltd, majority owned by Rio Tinto , said on Thursday that it was still in talks with the Mongolian government to resolve issues that delayed underground expansion of its Oyu Tolgoi gold and copper mine.
** LEGACY RESERVES LP, $27.31, -4.01 pct
The oil and gas producer said it plans to sell 10 million units, representing about 17 percent of outstanding units.
Legacy, which did not disclose pricing of the offering, said it planned to use the proceeds from the share sale to repay debt and fund acquisitions.
** SUNPOWER CORP, $33.4199, +2.64 pct
J.P. Morgan and Credit Suisse raised their ratings on the stock to "overweight" from "neutral".
Analysts at J.P. Morgan see growing residential lease business and possible spinoff of some plants as positive catalysts for the company.
** GOOGLE INC, $587.24, +1.09 pct
The software giant plans to launch a mobile messaging app it is likely to test in India and other emerging markets, the Economic Times newspaper reported on Friday, citing sources.
** FACEBOOK INC, $77.434, +0.46 pct
European Union antitrust regulators approved on Friday a $19 billion offer by the world's most popular social network, for mobile messaging startup WhatsApp.
The landmark deal is the largest in Facebook's 10-year history and will give it a strong foothold in the fast-growing mobile messaging market, pitting it against telecoms companies.
In another development, on the heels of fellow Silicon Valley technology companies Apple Inc and Google Inc , Facebook is also plotting its first steps into the fertile field of healthcare, said three people familiar with the matter.
** UBS AG, $16.73, -2.73 pct
Switzerland's largest bank could face a fine of up to $6.3 billion if found guilty in a French investigation into whether it helped wealthy customers there avoid tax, a Swiss newspaper reported on Friday [ID: nL6N0RY0R6]
** IAMGOLD CORP, $2.62, -4.03 pct
The company said it would sell its Niobec rare earths mine in Quebec to a group of companies led by investment company Magris Resources Inc for $500 million in cash, to focus on its core gold mining business.
** WALGREEN CO, $60.91, +1.92 pct
The largest U.S. drugstore operator's September sales rose 9.4 percent to $6.48 billion as pharmacy sales increased 14.2 percent.
Comparable-store sales rose 7.9 percent, with prescriptions filled at those stores increasing 6.6 percent.
** WELLPOINT INC, $121.91, +2.92 pct
The U.S. health insurer increased its share repurchase authorization by $5 billion, taking the total program to $6 billion, the company said in a regulatory filing.
WellPoint, which runs Anthem and Empire Blue Cross Blue Shield Plans, said the authorization is for a multi-year period. (1.usa.gov/1oFGu5U)
** GOLDMAN SACHS GROUP INC, $188.05, +2.83 pct
The financial group is considering raising a new infrastructure fund, according to three people familiar with the matter, even as U.S. regulations threaten to reduce its profits from such endeavors.
** SALIX PHARMACEUTICALS, $155.315, +2.80 pct
Salix, citing a "changed political environment," said on Friday it had scrapped a deal with Italy's Cosmo Pharmaceuticals SpA that would have allowed it to shift its tax base from the United States to Europe.
In recent months, Salix has also been pursued by Allergan Inc but the discussions have stalled, partly due to Allergan shareholders' opposition to a defensive acquisition, people familiar with the matter said.
** FOREST OIL CORP, $1.09, +1.87 pct
Capital One Securities analyst Brian Velie said investors were brushing off the company's statement that auditors had determined it might be unable to continue as a going concern.
** DERMIRA INC, $15.76, -1.50 pct
The biopharmaceutical company's shares rose as much as 15.6 percent to $18.50 in their market debut, valuing the company at about $358 million. The company's IPO of 7.8 million common shares was priced at $16 each, at the top of the expected range of $14-$16. (Compiled by Amrutha Penumudi in Bangalore; Edited by Maju Samuel)