January 29, 2013 / 8:59 PM / 5 years ago

MARKET PULSE-Peabody, Yahoo, Apple, Ford, Pfizer, Valero, D.R. Horton

12 Min Read

Jan 29 (Reuters) - Some U.S. stocks on the move on Tuesday:

Defensive Stocks Extend Rally as Caution Sets in

U.S. stocks rose, led by defensive sectors, in a sign the cash piles moving into the market recently are being put to use by cautious investors to pick up more gains. The Dow Jones industrial average rose 0.41 percent. The S&P 500 rose 0.33 percent and the Nasdaq Composite fell 0.07 percent.

** FORD MOTOR CORP, $12.96, down 6 pct (1222 ET)

The second-largest U.S. automaker forecast a $2 billion loss in Europe this year, hurt by a punishing recession that could drive down industry sales in the region beyond 2012's nearly 20-year low.

** PEABODY ENERGY CORP, $26.50, up 5 pct (1315 ET)

** ALPHA NATURAL RESOURCES INC, $9.13, up 3 pct (1315 ET)

** CONSOL ENERGY INC, $31.94, up 3 pct (1315 ET)

** ARCH COAL INC, $7.48, up 5 pct (1324 ET)

Coal stocks rose after Peabody, the world's largest private sector coal miner, said rebound in prices for steel-making coal would help lift its earnings as the year progresses. Prices are expected to bounce back this year on strengthening steel prices in China. Peabody expects a 40 to 60 million ton increase in U.S. coal demand, with the rise in natural gas prices prompting electric utilities to switch back to coal.

** OXFORD RESOURCE PARTNERS LP, $4.13, down 30.5 pct (1338 ET)

The coal producer said it would suspend cash distributions on both its common and subordinated shares for the fourth quarter as coal prices continue to suffer due to weak demand from steelmakers in top consumer China and crisis-hit Europe.

** APPLE INC $457.34, up 2 pct (1223 ET)

The iPhone maker said on Tuesday that it will sell a version of its iPad tablet computer with 128 gigabytes of storage, which is twice the capacity of its existing models. Apple, which has sold more than 120 million iPads so far, said that the new iPad will go on sale on Feb. 5 in black or white, for a suggested retail price of $799 for the iPad with just Wi-Fi model, and $929 for the version that also has a cellular wireless connection.

** PFIZER INC, $27.71, up 3 pct (1224 ET)

The largest U.S. drugmaker reported better-than-expected quarterly results, helped by a rebound in sales in emerging markets.

** YAHOO INC, $19.82, down 2.5 pct (1345 ET)

The Internet company on Monday forecast a modest uptick in revenue for the current year as it revamps its family of websites.

Yahoo forecast "very weak" revenue for the first quarter and the full year raising questions on whether the company is being overtly conservative or deliberately lowering shareholder expectations, Pivotal Research Group analyst Brian Wieser told Reuters.

** KERYX BIOPHARMACEUTICALS INC, $7.85, up 30 pct (1226 ET)

Keryx on Monday said a late-stage trial of its experimental drug for kidney disease met the main study goal of reducing phosphate levels in blood.

At least 5 brokerages raised their price targets on the stock after the positive results.

** OCZ TECHNOLOGY GROUP INC, $2.27, down 15 pct (1540 ET)

Lazard Capital Markets analyst Edward Parker said solid-state hard drive maker OCZ could be a takeover target for hard disk drive maker Seagate Technology Plc after Seagate said on Monday it was partnering with Virident to provide solid- state storage products. Virident provides technology similar to OCZ's.

** TUPPERWARE BRANDS CORP, $73.51, up 5 pct (1228 ET)

The company, known for its brightly colored containers that store food, reported better-than-expected results for the fourth quarter as sales improved in most of its markets.

** INTER PARFUMS INC, $21.48, up 6 pct (1228 ET)

Inter Parfums reported fourth-quarter revenue that beat Wall Street estimates helped by strong sales in North America, prompting the fragrance maker to raised its full-year 2013 forecast.

** ROGERS CORP, $47.71, down 8 pct (1230 ET)

The maker of specialty materials for the portable communications industry, cut its fourth-quarter adjusted earnings guidance, as it experienced a considerable decline in orders across all of its businesses during the month of December.

** ASHLAND INC, $81.58, down 5 pct (1229 ET)

The chemical maker said operating income for first quarter fell 17 percent due to weak demand for its coatings and construction products in emerging markets. Excluding three items, Ashland earned $1.21 per share. Analysts on average had expected a profit of $1.37 per share, according to Thomson Reuters I/B/E/S.

** PANDORA MEDIA INC, $11.31, down 3 pct (1229 ET)

Brokerage Wedbush Securities Inc downgraded the online streaming music service company's stock to "neutral" from "outperform" citing "a lack of near-term profitability and continuing uncertainty about competition."

** NETGEAR INC, $36.52, down 10 pct (1231 ET)

** CISCO SYSTEMS INC, down 2 pct (1231 ET)

The U.S. Department of Homeland Security urged computer users on Tuesday to disable a common networking technology feature, after researchers warned that hackers could exploit flaws to gain access to tens of millions of vulnerable devices.

** CTS CORP, $9.79, down 7 pct (1246 ET)

The manufacturer of electronic components reported a fall in fourth-quarter profit and forecast lower-than-expected full-year earnings on lower sales at its electronics manufacturing services business and delays in expected tax incentives in the U.S. and China.

** J.C. PENNEY CO INC, $20.95, up 9 pct (1231 ET)

The struggling U.S. retailer will reintroduce targeted discounts at certain times throughout the year, according to media reports. The strategy is aimed at luring shoppers who were turned off when the discounts disappeared last year, chief Executive Ron Johnson told The Associated Press.

** MARATHON PETROLEUM CORP, $71.53, up 4 pct (1234 ET)

** VALERO ENERGY CORP, $42.50, up 9 pct (1237 ET)

** WESTERN REFINING INC, $31.86, up 5 pct (1237 ET)

** HOLLYFRONTIER CORP, $49.99, up 4 pct (1238 ET)

Valero Energy, the largest independent U.S. refiner, reported a bigger-than-expected jump in fourth-quarter profit on Tuesday as it processed more cheaper crude oil from U.S. shale basins.

"Valero's results for the mid-con were strong, so that has read-through for HFC and WNR," said Raymond James analyst Stacey Hudson.

** POLARIS INDUSTRIES INC, $87.62, down 5 pct (1238 ET)

The all-terrain vehicle maker's fourth-quarter results beat analysts' estimates, but it forecast full-year earnings below market expectations citing a tough economic environment and competitive pressures in its main off-road vehicles business.

** OLIN CORP, $22.61, down 6 pct (1239 ET)

The chemical company forecast first-quarter earnings which were below analysts expectations, hurt by falling sales at its chlor alkali division. The company said it expects to report earnings between 40 cents per share to 45 cents per share. Analysts on an average were expecting a profit of 56 cents per share, according to Thomson Reuters I/B/E/S.

** ANACOR PHARMACEUTICALS INC, $4.09, down 20 pct (1239 ET)

The company reported positive results from a late-stage trial of its experimental drug for a fungal infection of nails. However, the efficacy data of the drug was not as good as that shown by a rival experimental drug from Valeant Pharmaceuticals International Inc .

** VMWARE INC, $78.14, down 20.5 pct (1240 ET)

** EMC CORP, $23.07, down 5 pct (1240 ET)

Data storage equipment maker EMC's 2013 earnings outlook missed estimates.

VMware, a publicly traded division of EMC, forecast a disappointing year ahead partly due to a drop in federal spending, prompting several brokerages to downgrade the stock. The company also said it plans to cut about 7 percent of its workforce as part of a restructuring program and would scale back in some areas of its business while putting more emphasis on certain geographies, product groups and operations

** SIERRA WIRELESS INC , $10.45, up 14 pct (1245 ET)

The provider of mobile broadband modems and wireless modules said on Monday it sold its assets and operations related to its AirCard business to Netgear Inc for $138 million in cash. The company also reported preliminary full-year revenue slightly above analyst's estimate. [ID: nBw3sM28Na]

Brokerage firm Jefferies & Co raised its price target to $10 from $8 on the stock.

** BMC SOFTWARE INC, $40.53, down 9 pct (1246 ET)

The business software maker forecast a lower-than-expected profit for the current year after reporting third-quarter results below Wall Street estimates due to lower license bookings at its enterprise services management and mainframe service management businesses.

** KULICKE AND SOFFA INDUSTRIES INC, $11.51, down 10 pct (1247 ET)

The chip gear maker reported first-quarter adjusted profit above estimates but forecast second-quarter revenue below analysts' expectations.

** MINDSPEED TECHNOLOGIES INC, $4.66, up 8 pct (1248)

The company, which supplies chips for network infrastructure applications, posted a surprise profit as product revenue jumped 13 percent.

** HESS CORP, $68.00, up 9 pct (1248 ET)

Elliott Management said it plans to nominate five executives to U.S. oil and gas company Hess Corp's board of directors as part of its push to improve shareholder returns.

** SEAGATE TECHNOLOGY PLC, $34.06, down 9 pct (1250 ET)

** WESTERN DIGITAL CORP, $45.91, down 5 pct (1250 ET)

Hard-disk drive maker Seagate forecast third-quarter revenue below analysts' estimates on muted demand for its hard disk drives as consumers pick smartphones and tablets over PCs.

Rival Western Digital's stock was also down.

** CIT GROUP INC, $43.49, up 7 pct (1251 ET)

The company's fourth-quarter profit beat Wall Street estimates by a wide margin as the small-business lender halved the money it spent to cover interest payments on long-term debt.

** LEXMARK INTERNATIONAL INC, $24.18, down 13 pct (1252 ET)

The printer maker quarterly profit fell 91 percent due to higher-than-expected taxes.

** D.R. HORTON INC, $23.51, up 10 pct (1252 ET)

** HOVNANIAN ENTERPRISES INC, $6.12, up 3 pct (1253 ET)

** BEAZER HOMES USA INC, $19.20, up 6 pct (1253 ET)

Top U.S homebuilder D.R. Horton's quarterly profit more than doubled as it sold more homes at higher prices, and it reported a 39 percent jump in orders, underlining a firming U.S. housing recovery.

The positive results helped the stocks of other homebuilders as well.

** FORTINET INC, $19.80, down 6 pct (1254 ET)

Brokerage Wunderlich Securities downgraded the network security firm's stock to "hold" from "buy" and lowered its price target on the company's stock to $22.00 from $28.00, StreetInsider.com reported.

** BOSTON SCIENTIFIC CORP, $7.17, up 5 pct (1254 ET)

The company reported weaker quarterly earnings on Tuesday as sales slipped and expenses rose, and the medical device maker announced more job cuts.

** PLUM CREEK TIMBER CO, $48.88, up 3 pct (1255 ET)

The forest products company's fourth-quarter profit beat analysts' estimates by a wide margin, helped by the emerging recovery in residential construction, and the company forecast higher demand and pricing for logs in 2013.

** SANMINA CORP, $9.47, down 20 pct (1255 ET)

The provider of components and logistics to defense, aerospace, and automotive industries reported first-quarter profit below analysts' expectations late on Monday due to weak demand in most of its businesses. Sanmina also forecast second-quarter revenue of between $1.40 billion and $1.45 billion, below analysts' average estimate of $1.49 billion, according to Thomson Reuters I/B/E/S.

** NEW ORIENTAL EDUCATION AND TECHNOLOGY GROUP INC, $16.29, down 9 pct (1256 ET)

The largest provider of private educational services in China reported a quarterly loss attributable to the company of $9.0 million, excluding items, compared with a net profit of $7.5 million a year earlier.

** FUSION-IO INC, $19.65, down 4 pct (1256 ET) EMC said on its conference call that it would introduce a PCI Express- based product that competes with storage device maker Fusion-io's products, Craig Hallum analyst Rajesh Ghai said. (Compiled by Neha Dimri in Bangalore)

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