19 Min Read
Jan 31 (Reuters) - Some U.S. stocks on the move on Thursday:
U.S. stocks were little changed on Thursday as investors mulled a mixed bag of economic data, though earnings from Qualcomm helped lift the Nasdaq. The Dow Jones industrial average gained 0.16 percent. The Standard & Poor's 500 Index rose 0.01 percent. The Nasdaq Composite Index rose 0.27 percent.
** CELSION CORP, $1.54, down 80 pct (1234 ET)
The company said a late-stage study of its experimental liver cancer treatment ThermoDox did not meet the main goal of increasing patients' survival without their cancer worsening.
** KEMET CORP, $5.88 up 13 pct (1334 ET)
The capacitor maker estimated a third-quarter loss of 5 cents per share, above analysts' expectations of a 16 cents per share loss .
** HARTE-HANKS INC, $8.00, up 25.2 pct (1338 ET)
The marketing company reported better-than-expected profit for the fourth quarter and said it expects revenue to be "slightly increased" for 2013.
** HHGREGG INC, $8.66, up 13 pct (1340 ET)
The appliance and electronics retailer said it expects 2013 profit of between 70 and 80 cents per share. Analysts on average were expecting full-year profit of 74 cents per share, according to Thomson Reuters I/B/E/S.
** HALOZYME THERAPEUTICS INC, $6.24, down 11 percent (1345 ET)
Brokerage Wedbush said it interpreted as negative some comments Roche Holding AG made on its full-year earnings conference call on the company's expectation on the potential approval of a subcutaneous version of its cancer drug Herceptin. As this version was developed by Halozyme, Wedbush downgraded Halozyme's stock to "neutral" and cut its price target on the Halozyme's shares by $4 to $17, saying the brokerage no more expects subcutaneous Herceptin to win U.S. approval this year.
** QUALCOMM INC, $66.56, up 4.7 pct (1234 ET)
The San Diego-based company beat Wall Street expectations for its first-quarter earnings and revenue and raised its financial targets for 2013 on Wednesday due to growing demand for smartphones and high-speed wireless services.
** RESEARCH IN MOTION LTD , $13.09, down 5 pct (1235 ET)
The BlackBerry maker's glitzy unveiling of the long-delayed line of new smartphones on Wednesday and a new corporate name failed to impress Wall Street analysts, with at least three downgrading the company's stock.
** CONSTELLATION BRANDS INC, $31.16, down 20 pct (1104 ET)
The U.S. Justice Department filed a lawsuit seeking to stop Anheuser-Busch InBev SA from buying the half of Mexican brewer Grupo Modelo that it does not already own, saying the $20.1 billion deal would lessen competition in the U.S. beer market. Constellation Brands would have distributed Corona beer in the United States if the transaction had been approved.
** ADVANCED MICRO DEVICES INC, $2.58, down 2.6 pct (1236 ET)
Credit rating agency Fitch downgraded the chipmaker's credit risk to "CCC" from "B" on Wednesday citing heightened concerns on AMD's negative free cash flow will burn through cash targets this year and perhaps approach its minimum operating level.
** DOW CHEMICAL CO, $33, down 5 pct (1236 ET)
The largest chlorine producer in the world reported a lower-than-expected adjusted profit as international demand for polyurethane and chlorine withered, especially in China and Europe.
** SILICON GRAPHICS INTERNATIONAL CORP, $14.84, up 15 pct (1131 ET)
The company which makes servers for data centers reported better-than-expected second-quarter results and forecast current-quarter results comfortably above Wall Street's estimates as the company sees better profitability on its cloud computing products.
** FACEBOOK INC, $31.03, down 0.6 pct (1237 ET)
The social networking company said on Wednesday that it doubled its quarterly mobile advertising revenue. But the growth trailed some of Wall Street's most aggressive estimates. Chief Executive Mark Zuckerberg said the company plans to spend heavily to recruit talent At least three analysts cut their ratings on the stock.
** LENDER PROCESSING SERVICES INC, $23.82, up 6.4 pct (1239 ET)
The mortgage service provider said it will pay $127 million to settle inquiries related to some of its signing and notarization practices.
** BLACKSTONE GROUP LP, $18.57, up 6.5 pct (1239 ET)
The investment company reported a 43 percent rise in fourth-quarter profit, capping what it called its best year as a publicly listed alternative asset manager, despite a lackluster performance by its flagship real estate business.
** CXIOM CORP, $17.47, down 6 pct (1221 ET)
The marketing software and data provider on Wednesday forecast full-year revenue to be down about 2.5 percent from a year earlier on decreases in IT infrastructure management and international operations.
Revenue from its clients, excluding the top 100, was down about 8 percent and management cautioned that it will likely be second half of fiscal year ending March 31, 2014 before total revenue perks up, BMO Capital Markets analyst Daniel Salmon wrote in a note. He cut his rating on the stock to "market perform" from "outperform".
** EXPONENT INC $48.80, down 11 pct (1235 ET)
The consulting firm, which provides technical consulting and risk assessment services to diversified markets, reported lower-than-expected quarterly earnings and forecast a fall in 2013 profit on a reduction in US defense spending and the loss of important contracts.
Brokerage Janney Capital Markets cut its target price for the stock to $60 from $65.
** ONLINE RESOURCES CORP, $3.82, up 82 pct (1239 ET)
** ACI WORLDWIDE INC, $47.50, up 1.06 pct (1240 ET)
Electronic payment services provider ACI Worldwide Inc said it will buy peer Online Resources in an all-cash deal with an equity value of about $126.6 million to expand its footprint in the online banking and bill payment sectors.
** AVIAT NETWORKS INC, $3.57, down 4.5 pct (1239 ET)
The company, which makes equipment to link and manage fixed and wireless networks, forecast third-quarter results largely below estimates. The company also said it expects a possible decline in cash from operating activities in the third quarter.
** TOWERSTREAM CORP, $2.83, down 10 pct (1240 ET) The broadband service provider said its offering of 10 million shares was priced at $3 per share, a discount to Wednesday's close of $3.17.
** ENERGY XXI (BERMUDA) LTD, $30.82, down 10 percent (1242 ET)
The oil and gas producer reported a lower-than-expected profit on Wednesday as production fell due to operational downtime issues such as rig moves and infrastructure maintenance. Raymond James analysts said the production also came in "gassier" than they had estimated and cut their price target on the stock to $38 from $40.
** RESMED, $43.85, down 6.3 pct (1241 ET)
The Centers for Medicare & Medicaid Services announced a reimbursement cut in round two of its durable medical equipment competitive bidding program, effective July. Analysts said this could put pressure on the pricing of Resmed's continuous positive airway pressure devices during the bidding process. William Blair said "On the margin, we view this as a negative, but by no means a catastrophic development."
** PERFORMANT FINANCIAL CORP, $12.63, up 14 pct (1241 ET)
The company priced its upsized secondary offering of 8 million shares , by selling stockholders, at $10.65 per share.
** TRI POINTE HOMES, $19.21, down 1.7 pct (1243 ET)
Shares of the first U.S. homebuilder to go public in almost a decade, surged in their market debut, indicating strong investor appetite for a sector gaining from a U.S. housing recovery.
** AUTONATION INC, $47.79, up 7 pct (1243 ET)
The largest U.S. auto dealer group, said strong new vehicle sales boosted its fourth-quarter net income by 20 percent and revenue by 13 percent.
** TAKE-TWO INTERACTIVE SOFTWARE INC, $12.43, down 5 pct (1246 ET)
The company said on Thursday it has pushed back the launch of the latest game from its hit "Grand Theft Auto" franchise to Sept. 17 from its previously announced release window of spring 2013.
** WMS INDUSTRIES INC, $24.90, up 52 pct (1247 ET)
** SCIENTIFIC GAMES CORP, $9.77, up 9 pct (1247 ET)
Scientific Games, which makes tickets and software for lotteries, said it will acquire rival WMS for about $1.42 billion to beef up its gaming machines business.
** LIQUIDITY SERVICES INC, $31.58, down 23 pct (1249 ET)
The online auctioneer cut its full-year earnings outlook as it expects economic uncertainties to hurt retail and industrial supply chains.
** HARMAN INTERNATIONAL INDUSTRIES INC, $42.91, down 12 pct (1249 ET)
The audio systems maker slashed its full-year outlook and said it would cut up to 9 percent of its workforce after second-quarter profit missed Street estimates due to lower sales to European carmakers.
** PITNEY BOWES INC, $13.99, up 16 pct (1250 ET) The postage meters maker reported better-than-expected fourth-quarter results as its software business improved, and forecast 2013 revenue ahead of analysts' estimates.
** DIGIRAD CORP, $1.89, up about 3.3 percent (1250 ET)
The diagnostic imaging products provider won U.S. health regulators' approval to sell its ergo Imaging System, which helps with diagnosis in nuclear medicine, surgery and women's health.
** MEAD JOHNSON NUTRITION CO, $75.51, up 11 pct (1251 ET)
The maker of Enfamil baby formula reported a higher-than-expected quarterly profit on Thursday, citing a rise in sales, the timing of a pension settlement expense and a lower tax rate.
** ANNALY CAPITAL MANAGEMENT INC, $14.94, down 0.06 pct (1251 ET)
** CREXUS INVESTMENT CORP, $13.27, up 6 pct (1252 ET)
Mortgage-backed REIT Annaly will gain control of CreXus after raising its offer for the remaining 88 percent stake in the commercial mortgage investor.
** MEDIA GENERAL INC, $4.30, up 4.3 pct (1252 ET)
The broadcaster posted a 40 percent jump in fourth-quarter revenue on an increase in political advertising.
** UNDER ARMOUR INC, $50.77, up 5.4 pct (1253 ET)
The athletic apparel and footwear maker reported a better-than-expected quarterly profit for the ninth time in a row as its water-resistant apparel and additions to its footwear range attracted more customers during the holiday season.
** WHIRLPOOL CORP, $113.47, up 4.3 pct (1253 ET)
The maker of Maytag and KitchenAid appliances reported a higher-than-expected quarterly profit as price increases and cost cuts helped the world's largest appliance maker counter lackluster demand in Europe and North America.
** SPECTRUM PHARMACEUTICALS INC, $12.86, up 8 pct (1254 ET)
** ALLERGAN INC, $105.56, down 0.03 pct (0956 ET)
Spectrum said it bought back rights for its late-stage bladder cancer drug from co-developer Allergan and it would conduct an additional trial on the drug after a meeting with U.S. health regulators last month.
** OCCIDENTAL PETROLEUM CORP, $87.72, up 3 pct (1255 ET)
The company's fourth-quarter profit beat Street estimates as the fourth-largest U.S. oil company was able to rein in costs in its pricier oil basins.
** FUSION-IO INC, $17.00, down 15 pct (1255 ET)
The storage drive maker slashed its fiscal 2013 revenue forecast as key customers Facebook Inc and Apple Inc delayed orders.
** FORTINET INC, $23.75, up 22 pct (1256 ET)
The company posted a better-than-expected quarterly profit, helped mainly by increased demand for its network security software from large U.S. enterprises.
** JDS UNIPHASE CORP, $14.73, up 18 pct (1256 ET)
** FINISAR CORP, $15.72, up 11 pct (1256 ET)
** CIENA CORP, $15.54, up 6 pct (1256 ET)
JDS reported on Wednesday a quarterly profit on higher demand for its products used in broadband networks in the Americas.
** SKYWORKS SOLUTIONS INC, $24.37, up 13 pct (1258 ET)
The supplier to Apple Inc forecast better-than-expected revenue for the traditionally slow second quarter. It also reported higher-than-expected quarterly results on improved demand for its chips used to connect cellphones to networks.
** CITRIX SYSTEMS INC, $74.05, up 10.5 pct (1258 ET)
The business software maker reported on Wednesday higher-than-expected quarterly results, helped by strong adoption of its desktop products among healthcare customers and the U.S. government.
** ALIGN TECHNOLOGY INC, $31.75, up 8.5 pct (1259 ET)
The dental products maker's quarterly results beat market estimates on strong sales of its teeth aligner product, Invisalign.
** VANDA PHARMACEUTICALS INC, $3.86, down 10 pct (1259 ET)
The company said it will stop developing its experimental drug for major depressive disorder after it failed to meet the main goal of improving symptoms in patients in a clinical trial.
** LAS VEGAS SANDS CORP, $54.83, up 6.3 pct (1259 ET)
The casino operator owned by billionaire Sheldon Adelson on Wednesday posted quarterly revenue above estimates and boosted its quarterly dividend by 40 percent to 35 cents per share.
** VANGUARD NATURAL RESOURCES LLC, 27.66, down 4.2 pct (1300 ET)
The oil and gas producer said on Wednesday that it will offer 8 million common shares. It also granted a 30-day option to the underwriters to purchase an additional 1.2 million shares.
** TIME WARNER CABLE INC, $91.04, down 10 pct (1300 ET)
The second-largest U.S. cable operator reported quarterly profit above analysts' estimates, helped by robust demand for high-speed data services.
** CORINTHIAN COLLEGES INC, $2.53, down 3.2 pct (1300 ET)
The for-profit education provider reported a quarterly loss and said new student enrollments dipped. It also received an investigative subpoena from the California Attorney General as part of a broader investigation of the for-profit education industry in California.
** ELIZABETH ARDEN INC, $39, down 15 pct (1301 ET)
The cosmetics maker cut its full-year forecast after reporting lower-than-expected quarterly results due to weak sales at department stores and what it called a "major mass retail account" during the holiday season.
** OWENS ILLINOIS INC, $23.91, up 5 pct (1301 ET)
The glass container maker posted a better-than-expected quarterly profit as price increases outpaced the impact of rising costs, and said it expects modest volume growth in 2013.
** TRACTOR SUPPLY, $102.40, up 8.4 pct (1302 ET)
The farm and ranch products retailer reported a quarterly profit that trumped Wall Street expectations, helped by cost cuts that also helped margin growth. Gross margins rose to 33 percent from 32.5 percent in the quarter. The company also forecast strong same-store sales for the full year after reporting a 4.7 percent rise in same store sales in the fourth quarter.
** SAREPTA THERAPEUTICS INC, $26.53, down 2.2 pct (1303 ET)
The company was the second one in as many days to see its shares plunge as a result of a Twitter hoax on Wednesday after a user posed as an influential short-seller and alleged improprieties at the biopharmaceutical company.
** FREESCALE SEMICONDUCTOR LTD, $14.60, up 2.6 pct (1303 ET)
The chipmaker gave an upbeat revenue forecast and said it will seek to extend the maturity of $2.7 billion of its debt.
** APOLLO GLOBAL MANAGEMENT LLC, $21.73, up 4 pct (1211 ET)
Hostess Brands Inc said private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co have set a baseline offer of $410 million to buy the company's snack cake brands including Hostess Twinkies and Dolly Madison.
** AVALONBAY COMMUNITIES INC, $131.10, down 3.3 pct (1304 ET)
The apartment landlord reported a 15 percent rise in a key earnings performance measure in the fourth quarter but warned that costs from the acquisition of some Archstone buildings would hurt its 2013 results.
** FLEETMATICS GROUP PLC, $25.03, down 4 pct (1305 ET)
The software maker announced the pricing of 7.7 million shares at $25 apiece in a follow-on offering.
** CONOCOPHILLIP, $58.32, down 5 pct (1307 ET)
The U.S. oil and natural gas company issued a production forecast on Wednesday that fell short of some Wall Street expectations.
** PULTEGROUP INC, $20.39, down 3.15 pct (1307 ET)
RBC Capital Markets analyst Robert Wetenhall said investors were concerned that the homebuilder was at the risk of having to buy back bad mortgages it originated during the subprime lending boom, when underwriting standards for many were lax or non-existent.
** EDUCATION MANAGEMENT CORP O>, $3.88, up 10 pct (1127 ET)
The for-profit college chain reported second-quarter results on Wednesday that beat market expectations on higher student retention and improvement in new student demand at some of its colleges and universities.
The company, which has been under government pressure to tighten admission polices in the face of rising student debt, said it has increased its focus on vocational courses and revamped its scholarship and financial aid programs.
** CONCUR TECHNOLOGIES INC, $67.02, down 7.6 pct (1142 ET)
The software company reported better-than-expected first-quarter results on Wednesday but forecast second-quarter revenue below analysts' estimates.
"Investors may have some concerns about the expense involved for the company to meet its full year revenue growth target of 30 percent," Analyst David Hilal of FBR Capital Markets told Reuters.
** CARDIOVASCULAR SYSTEMS INC, up 18 percent, $16.00 (1156 ET)
The company's shares rose the most in over two years after it forecast better-than-expected third-quarter revenue on the back of a strong second quarter, prompting Leerink Swann to raise its price on Cardiovascular's stock by $2 to $16.
"Near term, we expect that continued solid quarterly reports and positive ORBIT II coronary clinical trial results should push the shares higher over the next 12 months," Leerink analyst Danielle Antalffy wrote in a note. In the ORBIT II study, the company is evaluating the safety and effectiveness its orbital atherectomy technology in treating severely calcified coronary arteries.
** M/I HOMES INC, $25.04 down 9.5 pct (1156 ET)
The single-family homebuilder reported a fourth quarter profit of 23 cents per share. It missed analysts' estimates of 27 cents per share, according to Thomson Reuters I/B/E/S. [ID: nASB00DZ4]
** CABOT CORP $39.72 down 7.5 pct (1202 ET)
The company, which makes rubber and specialty grade carbon blacks and inkjet colorants, reported a first-quarter profit that missed estimates and said it expects global tire demand to remain weak through the second quarter. The company reported a first quarter profit of 66 cents per share, below analysts' estimates of 77 cents per share, according to Thomson Reuters I/B/E/S. [ID: nBw306451a] (Compiled by Neha Dimri in Bangalore)