8 Min Read
Dec 17 (Reuters) - Some U.S. stocks on move on Monday:
(For more market insights, including options activity, click on ; For the Morning News Call newsletter, click on (link.reuters.com/faq23t); For The Day Ahead newsletter, click on (link.reuters.com/mex49s)
The S&P 500 rose more than 1 percent on Monday as stocks added to gains after President Barack Obama and Republican House Speaker John Boehner met for talks on averting the "fiscal cliff".
** APPLE INC, $514.00, up 1 pct (1246 ET)
Apple sold more than 2 million iPhone 5s in China in just three days after its launch there on Friday, its best ever smartphone launch in the country.
** COMPUWARE CORP, $10.85, up 14 pct (1248 ET)
Activist hedge fund Elliott Management Corp offered to buy business software maker Compuware for $2.3 billion, seven months after it pushed for a sale of rival BMC Software Inc.
** CLEARWIRE CORP, $2.93, down 13 pct (1138 ET)
Clearwire agreed to sell the rest of the company to Sprint Nextel for a slightly sweeter $2.2 billion offer, days after minority shareholders criticized the previous bid as too low.
** NEPTUNE TECHNOLOGIES & BIORESSOURCES INC, $1.98, down 20 pct
A contributor on seekingalpha.com questioned the recent run up in the stock price, claiming that "meaningful production" would be unable to begin until 2014 and that the only defensible price for the company was "at a slight premium to the $0.70 per share that it had in cash." (link.reuters.com/dec74t)
** GENVEC INC, $1.81, up 38 pct (1250 ET)
GenVec presented data that showed that its experimental vaccine was effective against herpes simplex virus -- the cause for genital herpes -- in an early-stage trial.
Specifically, the vaccine had the effect of reducing viral shedding, and the recurrence and severity of lesions, the biotechnology company said.
** PULTEGROUP INC, $17.98, up 5 pct (1219 ET)
** DR HORTON INC, $19.53, up 4 pct (1220 ET)
** KB HOME, $16.06, up 3 pct (1220 ET)
** TOLL BROTHERS INC, $32.17, up 4 pct (1220 ET)
** LENNAR CORP, $38.41, up 3 pct (1220 ET)
The U.S. housing market recovery, which has gained traction this year as mortgage rates remain at record lows, will continue next year, with strong gains in residential construction and home prices, according to a survey by the National Association for Business Economics.
** JETBLUE AIRWAYS CORP, $5.73, up 3.6 pct (1136 ET)
** UNITED CONTINENTAL HOLDINGS INC, $23.30, up 1 pct (1136 ET)
** DELTA AIR LINES INC, $11.38, up 0.35 pct (1136 ET)
** US AIRWAYS GROUP INC, $12.82, down 0.07 pct (1136 ET)
Dahlman Rose & Co upgraded the airline industry to "bullish" from "cautious," saying it believes the industry is poised to benefit from higher passenger and ancillary revenue.
"The potential for lower jet fuel prices cannot be ignored, nor can industry consolidation, which is leading to a more stable domestic airline market," analysts led by Helane Becker wrote in a client note.
** VIVUS INC, $12.60, up 10 pct (1249 ET)
Prescriptions of the company's weight-loss drug Qsymia jumped 46 percent week-over-week, Street Insider reported. [link.reuters.com/mub74t ]
** TRONOX LTD, $17.21, up 9 pct (1248 ET)
The titanium dioxide maker could benefit from an uptick in demand for the white pigment used in paints and coatings due to an improving U.S. housing market and stimulus policies in China, the Barron's said on Saturday.
Tronox stock, which looks cheap, could double over the next year, the financial weekly reported. (link.reuters.com/cac74t)
** ENDEAVOUR INTERNATIONAL CORP, $4.98, down 21 pct (1134 ET)
The oil and natural gas company has terminated the deal it signed with Conocophillips to buy Conoco's stake in MacCulloh and Nicol oil fields in the United Kingdom after the companies were unable to agree on certain commercial terms, Endeavour said in a filing.
Global Hunter Securities downgraded Endeavour to "accumulate" from "buy."
** TRANZYME INC, $0.60, down 19 pct (1134 ET)
Tranzyme said it stopped the second mid-stage trial of its drug to treat a type of paralysis of the stomach as the drug did not prove effective enough.
** MAGNUM HUNTER RESOURCES CORP, $3.74, up 4 pct (1127 ET)
UBS Investment Research initiated coverage on the oil and gas company's stock with a "buy" rating.
** SMITH & WESSON HOLDING CORP, $8.73, down 3 pct (1249 ET)
** STURM RUGER & CO INC, $45.04, down 2 pct (1249 ET)
** CABELA'S INC, $41.17, down 5 pct (1249 ET)
U.S. President Barack Obama on Sunday demanded changes in the way the country dealt with gun violence, though he avoided the use of the word "gun" itself in consoling the Connecticut town shattered by the massacre of 20 young school children.
Several Democratic lawmakers called for a new push for U.S. gun restrictions on Sunday, including a ban on military-style assault weapons.
Retailer Cabela's sells assault weapons.
** ATMEL CORP, $5.75, up 1 pct (1130 ET)
Feltl and Co raised its rating and price target on the touchscreen chipmaker's stock, citing its potential to grow in the market for large touchscreens.
"We believe Atmel has likely captured a leading position within large touchscreen designs for Microsoft Windows 8 devices," the brokerage wrote in a note.
** SEQUENOM INC, $4.70, down 2 percent (1130 ET)
The maker of diagnostic tests said on Friday that the U.S. Patent and Trademark Office withdrew from issue a patent on certain methods to detect abnormal chromosomes in the fetus.
The patent, which was supposed to be issued to Sequenom on Dec. 25, was withdrawn due to ongoing proceedings between other parties requesting patents on similar methods, the company said.
** CARIBOU COFFEE CO INC, $16.00, up 30 pct (1130 ET)
** COFFEE HOLDING CO LTD, $7.94, up 13 pct (1130 ET)
Investment group Joh. A. Benckiser (JAB) plans to buy Caribou Coffee for about $340 million in cash, five months after it bought Peet's Coffee & Tea Inc.
** LEXICON PHARMACEUTICALS INC, $2.00, up 7 pct (1129 ET)
The U.S. health regulators granted a fast track status to the company's oral drug to treat diarrhea-predominant irritable bowel syndrome.
A fast track designation by the U.S. Food and Drug Administration expedites regulatory review of drugs that aim to treat serious diseases and fill unmet medical needs.
** GTX INC, $4.63, up 4 percent (1129 ET)
The company said it reached its enrollment goal for both late-stage studies of its drug enobosarm to treat muscle wasting in patients with non-small cell lung cancer.
GTX said it expects data from the studies in the latter part of its second quarter.
** ENZON PHARMACEUTICALS INC, $4.82, up 6 pct (1129 ET)
The biotechnology company said it would explore a possible sale of the company or its corporate assets.
** AMERICAN INTERNATIONAL GROUP INC, $34.58, up 2 pct (1128 ET)
The U.S. insurer may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd in Asia's second-largest block sale ever, exiting a business it started nearly 100 years ago.
** GOOGLE INC, $714.35, up 2 pct (1128 ET)
Google may not face any major repercussions from the Federal Trade Commission's (FTC) two-year-old anti-trust investigation into its web search business, the Wall Street Journal reported late on Saturday, citing people familiar with the matter.
Evercore Partners raised its price on Google's stock to $850 from $830 on Monday.
** BANK OF AMERICA CORP, $10.83, up 2.5 pct (1127 ET)
** MBIA Inc, $8.03, up 1 pct (1127 ET)
Bank of America has sued bond insurer MBIA in a New York state court for allegedly interfering with the bank's offer to buy MBIA's bonds. (Compiled by Garima Goel in Bangalore)