7 Min Read
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks rose on Tuesday, lifting the S&P 500 to a record high, boosted by healthcare after Actavis' acquisition of Allergan triggered bullish analyst notes. The Dow Jones industrial average was up 0.26 percent at 17,693.99, the S&P 500 was up 0.44 percent at 2,050.33.
** SUNEDISON INC, $20.54, +23.66 pct
** TERRAFORM POWER INC, $33.51, +29.68 pct
Solar company SunEdison and unit TerraForm Power said they would buy First Wind for $2.4 billion to enter the U.S. wind power market.
** NEOSTEM INC, $4.9978, -26.29 pct
The biotechnology company's stem cell therapy, NBS-10, did not meet the main goal of an improvement in cardiac perfusion in a mid-stage trial, MLV Partners analysts said. "It is unclear how the company will proceed with NBS 10's clinical development," MLV analyst Vernon Bernardino told Reuters.
** ABENGOA SA, $14.245, +25.51 pct
The Spanish renewable energy producer's U.S.-listed shares continued to rise. A trader, citing a local media report, said the company was aiming to refinance certain bonds due 2014 and 2015 through new bonds issued by Abengoa Yield and Abengoa Greenfield.
Just over a quarter of the company's bonds come due over the next two years, according to Thomson Reuters data.
** OMEGA PROTEIN CORP, $12.45, -16.89 pct
The protein products producer posted lower-than-expected third-quarter profit and revenue, hurt by slower-than-anticipated early-season fish catch and decreased fish oil yields.
** CYTRX CORP, $2.59, -6.16 pct
The biotechnology company said the U.S. Food and Drug Administration placed a hold on enrolling new patients in clinical trials of its experimental cancer drug after a patient died, sending the company's shares down 11 percent in premarket trading.
** URBAN OUTFITTERS INC, $28.09, -8.89 pct
The apparel retailer reported a lower-than-expected quarterly profit, hurt by increased markdowns and expenses related to marketing and technology.
** NOKIA CORP, $7.99, +4.17 pct
Nokia announced a brand-licensed tablet computer which runs on Google's Android platform, just six month after the company sold its ailing phones and devices business to Microsoft for over $7 billion.
** SONY CORP, $21.17, +4.49 pct
The Japanese consumer electronics maker aims to lift its movie entertainment revenues by more than a third in the next three years, its chief executive said on Tuesday as the loss-making consumer electronics firm tries to counter flagging smartphones sales.
** CLIFF NATURAL RESOURCES INC, $10.04, -7.47 pct
** VALE SA, $8.56, -3.28 pct
** RIO TINTO LTD, $47.08, -2.32 pct
Shares of the iron ore miners fell after Chinese iron ore and steel futures tumbled to record lows on Tuesday. Data showed a deepening decline in China's home prices, the latest evidence of economic weakness in the top consumer of both commodities.
** SUPERIOR ENERGY SERVICES INC, $24.74, +1.73 pct
KeyBanc Capital Markets upgraded the oilfield services provider's shares to "buy" from "hold".
** POTASH CORP OF SASKATCHEWAN INC, $35.64, +5.48 pct
** AGRIUM INC, $103.22, +3.38 pct
** MOSAIC CO, $46.98, +3.78 pct
Shares of North American potash miners rose as Russian rival suspended work at a mine. Uralkali, world's largest potash producer by output, said it suspended work at its Solikamsk-2 mine after higher levels of brine inflow were detected.
** JA SOLAR HOLDINGS CO LTD, $8.14, +4.36 pct
** TRINA SOLAR LTD, $9.9, +3.88 pct
** RENESOLA LTD, $2.09, +3.98 pct
Solar companies' shares rose 4-5 percent after Chinese solar panel maker JA Solar Holdings reported its fourth straight quarterly profit, helped by higher demand for solar panels and modules, and raised its shipment forecast.
** YAMANA GOLD INC, $4.15, +4.53 pct
** BARRICK GOLD CORP, $12.92, +3.61 pct
** KINROSS GOLD CORP, $2.81, +3.69 pct
** SIBANYE GOLD LTD, $7.81, +6.84 pct
** COEUR MINING INC, $4.55, +4.36 pct
** NEWMONT MINING CORP, $19.63, +2.03 pct
U.S.-listed shares of the gold miners rose after gold price jumped to a fresh two-week peak, moving closer to key $1,200-an-ounce level, as a softer dollar increased its appeal as a hedge.
** PETROLEO BRASILEIRO PETROBRAS SA, $9, -3.54 pct
Brazil's state-run oil company vowed on Monday to fully investigate a graft scandal that has knocked its shares lower and saddled President Dilma Rousseff's government with its biggest political crisis.
** MANITOWOC CO INC, $21.09, +3.89 pct
Jefferies & Co raised its rating on the crane maker's shares to "buy" from "hold" and lifted its price target to $25 from $23.
"Expectations seem very low, and we believe MTW should be able to realize the benefits from better incremental margins through the next cycle as production and operations have been improved," analyst Stephen Volkmann said in a note.
** STORE CAPITAL CORP, $19.6, +5.95 pct
The real estate company's shares rose as much as 6.7 percent to $19.74 in their debut, valuing the company at about $2.2 billion. The company, backed by private equity firm Oaktree Capital Management, raised about $509 million from its offering of 27.5 million shares.
** EHI CAR SERVICES LTD, $11.79, -1.75 pct
The Chinese car rental company's U.S.-listed shares fell as much as 8.3 percent to $11, valuing the company at about $625 million.
The company's offering of 10 million American depositary shares raised about $120 million after it was priced at $12 per ADS, the low end of its expected range of $12-$14.
** MEDTRONIC INC, $71.86, +3.86 pct
** COVIDIEN PLC, $97.66, +3.22 pct
Medtronic said its $42.9 billion acquisition of hospital products maker Covidien remains on track to close early next year.
Medtronic also raised the low end of its full-year revenue growth forecast.
** PINNACLE FOODS INC, $32.33, -4.12 pct
Blackstone Group reduced its stake further in the packaged food company, selling 20 million shares in secondary public offering launched after market close. (Compiled by by Ankit Ajmera in Bangalore; Editing by Maju Samuel)