December 3, 2012 / 6:14 PM / 5 years ago

MARKET PULSE-Sequans, Cleantech, LDK Solar, QLogic

6 Min Read

Dec 3 (Reuters) - Some U.S. stocks on the move on Monday: (For the Morning News Call newsletter, link.reuters.com/nex49s. For more market insights, including options activity, click on STXNEWS/US; for the day ahead newsletter, link.reuters.com/mex49s)

** Wall St Turns Flat as u.s. Factory Data Offsets China

U.S. stocks barely budged on Monday, with the S&P 500 and Nasdaq trimming early gains as disappointing U.S. factory numbers dented optimism spurred by positive data on China's economy. The Dow Jones industrial average was down 0.04 percent, the S&P 500 Index was up 0.06 percent and the Nasdaq Composite was up 0.15 percent.

** SEQUANS COMMUNICATIONS SA, $1.99, up 34 pct (1208 ET)

The chipmaker said its chips will be used in a large portion of LTE devices to be used in the next phase of China Mobile Ltd`s large-scale trial of TD-LTE technology in China.

Two of its device manufacturer partners, Nationz and Primemobi won contracts from China Mobile on Sunday, to supply chips for a trial expansion of its network into 13 cities.

** CLEANTECH SOLUTIONS INTERNATIONAL INC, $5.18, up 30 pct (1208 ET)

The company, which makes metal components for the clean energy industry, said its Chief Executive Jianhua Wu and his wife had agreed to spend $612,903 to buy nearly 6 percent of Cleantech's outstanding stock at $3.88 per share.

** LDK SOLAR CO LTD, $1.07, down 9 pct (1209 ET)

The China-based solar equipment manufacturer slashed its revenue forecast for the year and disclosed that it had laid off more than 2,500 employees in the third quarter as high U.S. import duties and weak prices dent shipments of solar cells and panels.

** QLOGIC CORP, $8.77, down 7 percent (1209 ET)

Goldman Sachs downgraded its rating on the networking products maker's stock to "sell" from "neutral", saying deteriorating macro conditions have made it "considerably tougher" for the company to meet the full-year forecast it gave in September, according to StreetInsider.com. (link.reuters.com/ham44t)

** DECKERS OUTDOOR CORP, $41.1, up 7 pct (1210 ET)

Sterne, Agee & Leach Inc raised the shoe maker to "buy" from "neutral", citing improvement in the company's product offerings and steps taken to revitalize its UGG brand for the fall collection.

** TPC GROUP INC, $44.77, down 7 pct (1210 ET)

** INNOSPEC INC, $32.47, up 2 pct (1210 ET)

Specialty chemical maker Innospec withdrew its offer of about $745 million for TPC Group, potentially paving the way for the success of a rival bid from First Reserve Corp and SK Capital Partners for the butadiene maker.

** DELL INC, $10.25, up 6 pct (1035 ET)

Goldman Sachs upgraded the No. 3 PC maker to "buy" from "sell" and raised its price target on the stock to $13 from $9, according to Streetinsider.com.

** BANKRATE INC $10.19, down 6 pct (1210 ET)

Canaccord Genuity cut its rating on the company's stock to "hold" from "buy".

** HEALTH MANAGEMENT ASSOCIATES INC, $7.56, down 5 pct (1211 ET)

The company's stock, which fell 1.5 pct on Friday, continued to suffer losses because of a "60 minutes" television segment aired on Dec. 2. The program investigated allegations made by doctors that the hospital chain pressured them to admit patients regardless of their medical needs.

CRT Capital Group analyst Sheryl Skolnick downgraded the company to "sell" from "fair value". "There is significantly greater risk of a deeper/wider Department Of Justice/Office of Inspector General investigation and a substantially higher risk that HMA may have to pay bigger fines to settle it," the analyst said.

** SUPERVALU INC, $2.51, up 5 pct (1209 ET)

Cerberus Capital Management LP, working on an acquisition of the troubled grocer, has indicated it is willing to pursue multiple options for the company, including a deal to buy Supervalu's entire business and another to purchase its Albertsons stores, the Wall Street Journal reported. (link.reuters.com/hah44t)

** SANDRIDGE ENERGY INC, $6.08, up 4 pct (1306 ET)

Hedge fund TPG-Axon said on Friday it will solicit support from other shareholders of SandRidge to replace the company's board of directors, citing poor management of the U.S. oil and gas company.

** GREEN MOUNTAIN COFFEE ROASTERS INC, $37.95, up 3 pct (1211 ET)

Lazard Capital Markets raised its price target on the Keurig brewing system-maker's stock to $56 from $42, citing increased confidence in the company's technological advantage.

** DEAN FOODS CO, $17.58, up 3 pct (1212 ET)

Canadian dairy products maker Saputo Inc said it had agreed to buy Dean Foods' Morningstar dairy division for $1.45 billion to widen its product range and increase its U.S. presence.

** MCMORAN EXPLORATION CO, $8.7, down 2 pct (1212 ET)

The oil and gas explorer, which has been suffering delays at its Davy Jones deep gas prospect off the Louisiana coast, said its operations to stimulate its Davy Jones No. 1 well with barite had limited success. The company said last Monday that it was starting to inject a barite solvent to clean out perforations to achieve a key test at the well.

** NEWMONT MINING CORP, $46.28, down 2 pct (1212 ET)

The world's second-largest gold producer said Richard O'Brien will step down as chief executive on March 1, and Chief Operating Officer Gary Goldberg will take over the reins. (Compiled by Maria Ajit Thomas in Bangalore)

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