17 Min Read
(Corrects company name in the headline in the item on Demandware)
Feb 1 (Reuters) - Some U.S. stocks on the move on Friday:
U.S. Stocks hit five-year highs after jobs and manufacturing data showed the economy's sluggish recovery is still on track. The Dow Jones industrial average rose 1 percent, the S&P 500 rose 0.82 percent and the Nasdaq Composite rose 0.73 percent.
** MERCK & CO, $42.06, down 2.7 pct (0932 ET)
The No. 2 U.S. drugmaker's quarterly results beat estimates, helped by strong sales of its Januvia diabetes drug and Gardasil vaccine against cervical cancer, but the company forecast 2013 profit at the low end of expectations.
** PFIZER INC, $27.75, up 2 pct (1054 ET)
** ZOETIS INC, $30.75, 18 pct (1056 ET)
Shares of Pfizer's animal health subsidiary, Zoetis, jumped 21 percent on their New York Stock Exchange debut. Zoetis raised $2.2 billion in the largest initial public offering by a U.S. company since Facebook Inc's IPO in May.
** DELL INC, $13.82, up 4.4 pct (0935 ET)
The company is nearing an agreement to sell itself to a buyout consortium led by its founder and Chief Executive Michael Dell and private equity firm Silver Lake Partners, possibly announcing a deal as soon as Monday, according to two people familiar with the matter.
** AUDIENCE INC, $15.20, up 24.3 pct (0936 ET)
The audio technology company forecast quarterly revenue well above Wall Street's expectations, helped by more business from Samsung and other smartphone makers.
** EDAP TMS SA, $2.86, up 11 pct (1015 ET)
The medical device maker submitted an approval application for its prostate cancer device to the U.S. Food and Drug Administration.
** MITEK SYSTEMS INC, $3.74, up 9.5 pct (1017 ET)
The software maker reported a surprise profit and higher-than-expected revenue for the first quarter on Thursday helped by higher demand for its flagship mobile imaging software.
** OCZ TECHNOLOGY GROUP INC OCZ.O, $2.06, down 8 pct (1125 ET)
The solid-state drive maker estimated second- and third-quarter revenues below analyst estimates.
The company expects second- and third-quarter revenues between $65 million and $85 million.
Analysts on average were expecting second-quarter revenue of $107.7 million, and third-quarter revenue of $134.33 million, according to Thomson Reuters I/B/E/S.
The company also estimated inventory charges due to discontinuation of about 150 products of about $15 million in the second quarter and about $30 million in the third quarter
** MEDIVATION INC, $56.80, up 5 percent (0958 ET)
Japanese drugmaker Astellas Pharma Inc, Medivation's partner on prostate cancer drug Xtandi, reported better-than-expected U.S. sales of $57 million from Xtandi. Jefferies analyst Biren Amin said Xtandi was well on track to at least meet 2013 estimates of about $268 million, calling the reported quarterly figure "another strong beat." Medivation also said in a regulatory filing that Astellas expected to exceed its earlier forecast of $100 million in U.S. Xtandi sales for the year.
** GRAMERCY CAPITAL CORP, $3.72, up 4 percent. (1007 ET)
The commercial REIT said it was transferring its management and sub-special servicing agreement in three collateralized debt obligations for about $9.9 million, and would receive an additional $14 million when specific assets within the CDOs were liquidated, as it looks to become pure-play equity REIT.
** INVESTMENT TECHNOLOGY GROUP $10.57, up 5 percent (1013)
The independent research and execution broker reported a better-than-expected quarterly profit and brokerages SAndler O'Neill and JP Morgan raised their price targets on the stock.
** REINSURANCE GROUP OF AMERICA, $60.12, up 5 pct (1016 ET)
The life reinsurer's fourth-quarter profit beat Wall Street estimates by a wide margin on strong results from U.S. individual mortality and Canadian businesses and its board approved a $200 million stock repurchase program.
** CTRIP.COM INTERNATIONAL LTD, $20.59, up 4 pct (1024 ET)
The travel service provider reported a quarterly profit well clear of analysts' expectations late on Thursday. It earned 35 cents per American depository share, excluding items for the fourth quarter ended December. Analysts on average expected earnings of 11 cents per share, excluding items, according to Thomson Reuters I/B/E/S.
** MACATAWA BANK CORP $4.37, down 6 percent (1022 ET)
The Michigan-based lender's margin fell 76 basis points to 3.26 percent sequentially, raising fears that a prolonged low interest rate enviroment would sap its earnings power.
** CR BARD INC, $99.1, down 3 percent (1026 ET)
The medical device maker's 2013 forecast lagged analysts' estimates, taking the gloss of a better-than-expected fourth quarter and prompting Barclays to cut its price target on Bard's stock to $112 from $117. Bard on Thursday laid out extensive plans to grow by deploying proceeds it hopes to get from W.L. Gore & Associates on resolution of a long-running patent suit with the manufacturing firm. Jefferies, however, maintained its "hold" rating on Bard stock saying the company's plan was "fraught with risk."
** THE BRINK'S CO, $26.62, down 11 pct (1022 ET)
Security services provider Brink's Co reported a lower-than-expected quarterly profit on weak operating margins in Latin America, its largest market. The company, which provides security services for governments, banks and other commercial customers, said it is planning to divest its cash-in-transit operations in Germany.
** UNIVERSAL TECHNICAL INSTITUTE INC, $12.01, up 6 pct (1035 ET)
The provider of automotive technician training's quarterly profit beat analysts' estimate late on Thursday. The company earned 14 cents per share for it first quarter ended December. Analysts on average expected earnings of 8 cents per share, excluding items, according to Thomson Reuters I/B/E/S.
** HHGREGG INC, $9.05, up 6.7 pct (1036 ET)
Jefferies & Co raised its price target on the appliance and electronics retailer's stock and said it is likely to benefit from the decision to diversify its business away from video and towards other home categories such as furniture and fitness.
Hhgregg has kept its product offering to the living room, but will soon expand it, the brokerage wrote in a note and raised its proce target to $8 from $7.
"This seems like the area where management is most likely to get traction based on better early results versus fitness equipment, which appeared to be more challenged as management tries to figure out the right mix," the brokerage said.
** STMICROELECTRONICS NV,, $9.05, up 4.9 pct (1049 ET)
Brokerage UBS Investment Research raised its price taget on the chipmaker's shares to 6.30 euros from 5.2 euros saying the company's first-quarter forecast in its core business remains inline with analysts estimates.
** BRIGHTCOVE INC, $6.48, down 23 pct (1100 ET)
The online video publisher forecast lower-than-expected first-quarter results on Thursday.
The company also said Chief Operating Officer David Mendels will replace co-founder and CEO Jeremy Allaire, who will become Executive Chairman of the Board after completion of the first quarter.
** CONSTELLATION BRANDS INC, $32.36, up 1 pct (1059 ET)
company on Friday attacked the U.S. government's move to block Anheuser-Busch InBev's proposed $20.1 billion takeover of Mexican brewer Grupo Modelo.
** PANASONIC CORP , $6.98, up 6 pct (1105 ET)
The maker of Viera TVs rebounded to a quarterly profit and stuck with its full-year earnings forecast, as it moves its business away from loss-making TVs in favor of household appliances, batteries and other non-consumer electronics.
** HEWLETT-PACKARD CO, $16.67, up 1 pct (1106 ET)
The computer maker said on Friday it was planning to close a site in Germany by the end of October as part of its multi-year restructuring plan.
** DEMANDWARE INC, $29.81, down 6.2 pct (1119 ET)
Netsuite Chief Executive Zach Nelson called the company, which makes software that powers e-commerce sites, "incredibly vulnerable" due to the small number of customers it has.
Netsuite competes against Demandware with its SuiteCommerce offering. Nelson, on a conference call with analysts on Thursday, termed Demandware's products as "narrow, low functionality point products".
** MANITOWOC CO INC, $18.31, up 4 pct (0939 ET)
The diversified industrial manufacturer reported better-than-expected quarterly results, helped by a 12 percent growth in crane sales. The company forecast crane operating margin of high single-digit percentage for 2013.
** NETFLIX INC, $171.30, up 3.6 pct (0936 ET)
Morgan Stanley raised its price target on the U.S. video rental and streaming company's stock to $200 from $160, according to theflyonthewall.com.
** DOMTAR CORP , $80.78, down 2.9 pct (0937 ET)
The paper and pulp producer's quarterly profit fell 69 percent due to weak pulp prices and higher costs, and the company said it expected paper prices to be little changed this year.
** MCKESSON CORP, Thursday close $103.17, down 2 pct (0938 ET)
The U.S. drug wholesaler reported a lower-than-expected quarterly net profit on Thursday, citing a $40 million charge for a Canadian legal dispute and deferred international revenue.
** TELLABS INC, $2.13, down 6.6 pct (0940 ET)
The network equipment maker forecast first-quarter revenue below analysts' estimates as it expects to record a restructuring charge of $38 million during the quarter, related to the discontinuation of one of its products.
** LIFE TIME FITNESS INC, $40.55, down 20 pct (0943 ET) The fitness and spa center operator announced preliminary fourth-quarter results that missed analysts' expectations, hurt by lower membership growth and losses related to Hurricane Sandy.
** PERRIGO CO, $107.78, up 7.2 pct (0943 ET)
The generic drugmaker reported a better-than-expected second-quarter profit and said it would buy pet health products maker Velcera Inc for $160 million to beef up its animal healthcare business.
** TYSON FOODS INC, $22.75, up 2.8 pct (0944 ET)
The largest U.S. meat company, posted better-than-expected quarterly earnings on Friday, helped by growth in its beef and chicken businesses, and forecast full-year revenue that was slightly above analyst expectations.
** AON PLC, $56.45, down 2.2 pct (0946 ET)
The world's largest insurance broker reported a higher quarterly profit as margin pressures eased at its human resource business.
** PMC-SIERRA INC, $6.48, up 12 pct (0946 ET)
The chipmaker reported fourth-quarter results that beat analysts' expectations prompting at least two brokerages to raise their target prices on the company's stock.
** LEGG MASON INC, $27.03, down 2.2 pct (0947 ET)
The asset manager said on Friday it swung to a quarterly loss due to charges for impaired assets, and reported continued outflows from its equity and bond funds.
** NEWELL RUBBERMAID INC, $23.10, down 1.5 pct (0947 ET)
The consumer products maker reported a better-than-expected quarterly profit, boosted by cost cuts and strength in emerging markets.
** NATIONAL OILWELL VARCO INC, $70.51, down 4.9 pct (0948 ET)
The largest U.S. oilfield equipment maker, reported a 16 percent rise in quarterly profit on higher revenue from its rig technology business, its biggest.
** STANDARD PACIFIC CORP, $8.61, up 3.7 pct (0948 ET)
The homebuilder reported a better-than-expected fourth-quarter profit, helped by a sharp jump in new orders, and said it experienced solid demand during the first month of 2013. [ID: nPnLA51701]
** BERRY PLASTICS GROUP, $17.31, down 1.5 pct (0948 ET)
The consumer packaging provider reported an adjusted fourth-quarter profit of 8 cents per share. It missed analysts' expectations of 10 cents per share, according to Thomson Reuters I/B/E/S. [ID: nWNAB00QSF]
** FACEBOOK INC, $30.32, down 2 pct (0949 ET)
The stock recovered from an 8 percent slide on Thursday, finishing the regular session down less than 1 percent, as Wall Street's initial alarm over mobile revenue results and spending plans subsided.
** NETSUITE INC, $74.85, up 6.6 pct (0949 ET)
The business software maker raised its 2013 revenue forecast, and said it would add jobs in its sales and product teams to meet strong demand.
** EMULEX CORP, $7.03, down 8 pct (0950 ET)
** BROADCOM CORP, $32.71, up 1 pct (0950 ET)
Storage equipment maker Emulex forecast third-quarter results that fell short of analysts' estimates, partly due to a court injunction that hurt sales. The company said a court injunction won by chipmaker Broadcom Corp in a patent infringement case had hindered its ability to win new customers in the United States.
Peer Broadcom's stock rose.
** WYNN RESORTS LTD, $123.44, down 1.4 pct (0951 ET)
Janney Capital Markets raised its rating on the hotel-casino operator's stock to "buy" from "neutral" as the brokerage expects Macau to continue to show better growth in 2013.
"Wynn is leveraged to the VIP sector in Macau and we believe this could show better than expected growth, particularly at the end of the government transition," Brian McGill of Janney wrote.
The company, however, posted quarterly profit that was below Wall Street's estimates as its share of the Macau market declined.
** BOEING CO, $74.40, up 0.7 pct (0952 ET)
Airbus studied alternatives to lithium-ion batteries for its next jet, the A350, and has time to adapt to any rule changes prompted by the problems that have grounded Boeing Co 787 Dreamliner, its top executive said.
** PERKINELMER INC, $34.57, down 2 pct (0954 ET)
The maker of scientific instruments on Thursday reported higher-than-expected quarterly profit, but the company issued a 2013 earnings forecast range with a midpoint below Wall Street estimates.
** THERMO FISHER SCIENTIFIC INC, $74.00, up 2.5 pct (0954 ET)
The company is so convinced that automatic U.S. government spending cuts will kick in March that the world's largest maker of laboratory equipment included that assumption in its 2013 forecasts.
** MORGAN STANLEY, $23.21, up 1.7 pct (0955 ET)
The bank said it is nearly doubling Chief Executive James Gorman's salary to $1.5 million a year, to bring it more in line with other big bank chiefs.
** CHUBB CORP, $83.47, up 4 pct (0956 ET)
The property and casualty insurer posted a surprise operating profit even as it booked a pre-tax catastrophe loss of $882 million related to superstorm Sandy, the largest loss from a natural disaster in the company's history.
** CONSOL ENERGY INC, $31.06, down 0.9 pct (0956 ET)
The company plans to sell more assets this year to navigate a difficult market after raising $350 million last year from the sale of non-core coal reserves in the United States and Canada.
** COMPUTER PROGRAMS AND SYSTEMS INC, $50.15, down 4.7 pct (0957 ET)
The healthcare IT service provider forecast 2013 profit between $2.80 to $2.98 per share, below analyst estimates of $3.15 per share, according to Thomson Reuters I/B/E/S.
Fourth-quarter net income of 83 cents per share also missed consensus estimates of 88 cents per share.
** TELECOMMUNICATIONS SYSTEMS INC, $2.37, up 5.2 pct (0957 ET)
The wireless communication company on Thursday reported fourth-quarter profit above analysts' estimates, helped by higher sales of its TotalCom network products.
** BEBE STORES INC, $3.98, down 4.8 pct (0958 ET)
The women's apparel retailer reported a larger-than-expected quarterly loss, as increased markdowns and expenses hurt margins.
** ABAXIS INC, $44.17, down 14 pct (0958 ET)
The medical device maker reported better-than-expected third-quarter results due to a 40 percent rise in sales of its veterinary diagnostic products. Abaxis's net income was 22 cents per share on revenue of $49.8 million beating analyst estimates of 18 cents per share on revenue of $45.8 million, according to Thomson Reuters I/B/E/S.
** ELECTRO SCIENTIFIC INDUSTRIES INC, $10.39, down 3.9 pct (0959 ET)
The supplier of laser-based manufacturing solutions reported a third-quarter profit that missed analysts' expectations as slow capital spending in its core markets pushed orders lower, and Electro Scientific forecast lower-than-expected fourth quarter earnings.
** OCZ TECHNOLOGY GROUP INC, $2.11, down 6.2 pct (0959 ET)
The solid-state drive maker said it expects second- and third-quarter revenues between $65 million and $85 million. It also estimated inventory charges due to discontinuation of about 150 products of about $15 million in the second quarter and about $30 million in the third quarter.
Analysts on average were expecting second-quarter revenue of $107.7 million, and third-quarter revenue of $134.33 million, according to Thomson Reuters I/B/E/S.
** GREEN DOT CORP, $13.74, up 2.5 pct (0959 ET)
The issuer of prepaid debit cards reported better than expected fourth quarter results that beat analysts' estimates on improved cardholder retention and more usage of prepaid cards. Though full year earnings guidance was below expectations, revenue was above estimates. (Compiled by Neha Dimri in Bangalore)