November 19, 2012 / 5:43 PM / 5 years ago

MARKET PULSE- Rambus, BioMimetic, MetroPCS, Complete Genomics, Apple, Facebook

Nov 19 (Reuters) - Some U.S. stocks on the move on Monday:

(For more market insights, including options activity, click on STXNEWS/US; for the day ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/faq23t)

WALL ST BOUNCES ON BUDGET TALK OPTIMISM, HOUSING DATA

Wall Street bounced on Monday as investors were heartened by signs of progress in talks to resolve the fiscal crunch and data that showed the recovery in the housing sector was gaining strength.

The Dow Jones industrial average was up 1.39 percent, the Standard & Poor’s 500 Index was up 1.67 percent, and the Nasdaq Composite Index was up 1.80 percent. (1229 ET)

** BIOMIMETIC THERAPEUTICS INC, $7.14, up 72 pct (1220 ET)

Orthopedic device maker Wright Medical Group Inc will buy BioMimetic for up to $380 million in cash and stock to gain access to the regenerative medicine maker’s bone graft product.

** LOWE‘S COS INC, $34.09, up 7 pct (1220 ET)

The world’s No. 2 home improvement chain reported a higher-than-expected quarterly profit on Monday as preparation and rebuilding efforts tied to superstorm Sandy boosted business at the retailer, which raised its full-year sales forecast.

** FACEBOOK INC, $23.68, up 0.50 pct (1220 ET)

The social networking site will begin rolling out on Friday a new tool which will allow online retailers to track purchases by members of the social network who have viewed their ads.

** APPLE INC, $558.45, up 6 pct (1221 ET)

The largest U.S. stock by market value was up in trade on Monday, after recording eight straight weeks of declines.

** CITIGROUP INC, $36.17, up 3.5 pct (1221 ET)

The financial services provider has agreed to pay $360 million to the brokerage estate of Lehman Brothers to resolve a dispute over $1 billion in collateral that the investment bank was forced to post in the days leading up to its bankruptcy in 2008.

** COMPLETE GENOMICS, $3.11, up 3 pct (1222 ET)

Illumina Inc on Friday said it offered to buy Complete Genomics for $3.30 a share, topping an offer from China’s BGI-Shenzhen by 5 percent. Illumina’s bid, submitted on Nov. 5, offers a premium of 9.3 percent on the stock’s Friday close.

** SINA CORP, $48.36, up 7 pct (1222 ET)

China’s largest e-commerce company Alibaba Group is planning to buy a stake in Weibo, China’s most popular microblogging service, China Business News reported on Monday.

** TYSON FOODS INC $18.31, up 8.4 pct (1223 ET)

America’s largest meat company posted higher-than-expected quarterly earnings and gave an upbeat forecast on Monday as the company adds more higher-priced prepared foods to its portfolio.

** DIAMOND FOODS INC, $13.43, down 11 pct (1223 ET)

Jefferies & Co downgraded the snack food maker to “underperform” from “hold”, and cut its price target on the stock to $10 from $27. Last week, Diamond Foods restated financial results for fiscal years 2010 and 2011, erasing $56.5 million in profit.

** RUCKUS WIRELESS INC, $12.76, up 4 pct (1223 ET)

The WiFi products maker failed to impress in its market debut on Friday, but shares recovered on Monday.

** METROPCS COMMUNICATIONS INC, $10.87, up 1 pct (1224 ET)

The mobile operator got an offer at $11 per share in August from an undisclosed company, it said in an SEC filing on Friday. “On August 7, 2012, we received a written indication of interest from Company C stating that Company C was interested in acquiring MetroPCS for $11 per share, payable 30 percent in cash and 70 percent in stock of Company C,” MetroPCS said.

** BANK OF AMERICA, $9.48, up 4 pct (1224 ET)

Stifel Nicolaus raised its price target on the stock saying that the bank’s earnings per share will be better in the next two years compared to its rivals due to lower operating expenses which would offset sluggish revenue and loan growth.

** ARUBA NETWORKS INC, $18.62, down 1 pct (1224 ET)

Cisco Systems Inc agreed to buy privately held cloud networking company Meraki on Sunday, putting it in direct competition with the network equipment company.

The deal will allow Cisco to offer alternative solutions to traditional Wi-Fi deployment models like smaller competitors, such as Aruba and Ruckus Wireless said ZK research analyst Zeus Kerravala.

** RAMBUS INC $4.47, up 10 pct (1224 ET)

JP Morgan Securities raised its rating on the technology licensing company to "overweight" from "neutral", according to Benzinga.com. [r.reuters.com/byc24t ]

** FLOWERS FOODS INC, $23.78, up 6.5 pct (1225 ET)

The maker of ‘Nature’s Own’ bread and ‘Tastykake’ snack cakes said on Monday it has amended and extended its $500 million loan facility, giving it greater financial flexibility just as its bankrupt rival Hostess Brands Inc entertains bidders for its brands. Flowers is seen as a potential suitor for some of Hostess’ brands.

** ALEXZA PHARMACEUTICALS INC, $4.30, up 4 pct (1225 ET)

European health regulators indicated that they did not have any outstandging issues with the marketing application of the company’s treatment for agitation related to schizophrenia or bipolar disorder.

U.S. health regulators will decide on the marketing of the therapy Adasuve, the drugmaker’s lead product candidate, on December 21, 2012.

** K12 INC, $17.98, down 12 percent (1225 ET)

Wells Fargo Securities cut its rating on the online education services provider to “market perform” due to the declining academic performance at the company’s Colorado Virtual Academy.

** BGC PARTNERS INC, $3.74, up 12 pct (1225 ET)

Raymond James expects the brokerage firm to generate $500 million in revenue in 2012 and upgraded the stock to a “strong buy”, saying BGC has sufficient cash flow to pay dividend to stakeholders.

** DIANA CONTAINERSHIPS INC, $6.14, up 11 pct (1226 ET)

The shipper posted better third-quarter results on higher time charter revenue as it increased its fleet by two. Time charter revenue rose by about 50 percent to $14.6 million this quarter. Net income more than doubled to $5.7 million.

** DEAN FOODS CO, $16.95, up 2 pct (1226 ET)

Brokerage Goldman Sachs raised its rating on the U.S. dairy company’s stock to a “buy”, benzinga.com said on Monday.

** ENERPLUS CORP , $12.55, up 6.4 pct (1227 ET)

RBC upgraded the stock of the Canadian oil and gas producer to “outperform” on valuation.

** STMICROELECTRONICS NV , $5.85, up 8 pct (1227 ET)

Brokerage UBS Investment research upgraded the chipmaker to “neutral” from “sell” as the company reaffirmed its forecast for the fourth quarter and said it was not planning to split its analog and digital businesses.

“Encouragingly, the market now understands that there will be no fuller break up of the business along digital-analog lines but we believe plans to ”de-risk“ ST-Ericsson could include further partnerships rather than disposal,” analyst Gareth Jenkins wrote in a note to clients.

The company said last week that it has no plans to buy out partner Ericsson from their struggling wireless chipmaker joint-venture ST-Ericsson.

** LIGAND PHARMACEUTICALS INC, $18.73, up 12.5 pct (1227 ET)

GlaxoSmithKline Plc said U.S. health regulators had approved its drug Promacta, developed along with Ligand Pharmaceuticals, for the additional use of treating hepatitis C patients with a low platelet count who are unable to undergo standard hepatitis C therapy.

** VICOR CORP, $5.43, up 6.25 pct (1219 ET)

The company, which manufactures power conversion devices, began a Dutch auction tender offer to repurchase upto $20 million in stock.

Under the terms of the offer, which ends on Dec. 28, Vicor shareholders will have the opportunity to tender their shares at a price upto $5.38 per share, above Friday’s close of $5.12 on the New York Stock Exchange.

** BASIC ENERGY SERVICES INC, $9.55, up 6.58 pct

The oilfield services provider reported higher rig and truck hours for October due to additional operating days and the absence of a holiday.

Truck hours at the fluid services segment, which transports fluids from and to wells, rose by 11 percent, compared with September.

** ACACIA RESEARCH CORP, $21.21, down 9.5 pct (1223 ET)

The company, which acquires and licenses patent rights to various technologies, could be down on a Wall Street Journal article which said U.S. antitrust authorities are examining whether specialized patent-holding firms are disrupting competition in high-tech markets, Stephens Inc analyst Timothy Quillin said. (link.reuters.com/had24t)

** LEXMARK INTERNATIONAL INC, $24.54, up 6.2 pct (1230 ET)

The printermaker’s shares may be up on short-seller action, Sanford Bernstein & Co analyst Toni Sacconaghi said. “Lexmark has a very high short interest, so the strong positive move in the market today may be causing a short squeeze on investors,” he said. (Compiled by Tej Sapru in Bangalore)

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