14 Min Read
Feb 7 (Reuters) - Some U.S. stocks on the move on Thursday:
Stocks were little changed on Thursday after data showed modest improvement in the labor market and retailers posted mixed monthly sales. Weekly initial jobless claims dipped last week, with the four-week moving average falling to its lowest level since March 2008, signaling the economy continues to recover slowly. The Dow Jones industrial average dropped 13.90 points, or 0.10 percent, to 13,972.62. The Standard & Poor's 500 Index dropped 0.43 points, or 0.03 percent, to 1,511.69. The Nasdaq Composite Index dropped 3.04 points, or 0.10 percent, to 3,165.43.
** APPLE INC, $457.75, up 0.7 pct (1000 ET)
Fund manager David Einhorn's Greenlight Capital sued the iPhone maker, saying it needed to do more to unlock value for shareholders. Greenlight said it was "dissatisfied with Apple's capital allocation strategy."
** JP MORGAN CHASE & CO, $48.64, down 0.6 pct (1026 ET) Emails and employee interviews filed as part of a lawsuit show that the company flouted quality controls as it bundled mortgages into complex financial instruments, the New York Times reported.
** VODAFONE GROUP PLC , $27.19, up 1.1 pct (1001 ET)
The UK-based telecom operator said it received a transfer pricing order in India over the issue of shares by its unit Vodafone India Services Private Ltd.
** O'REILLY AUTOMOTIVE INC, $100.63, up 8.7 pct (1001 ET)
The auto parts retailer forecast 2013 earnings between $5.57 and $5.67 per share, beating analysts' expectations of $5.44 per share, according to Thomson Reuters I/B/E/S.
** ADVANCE AUTO PARTS INC, $78.23, up 7.3 pct (1001 ET)
The auto parts retailer posted a fourth-quarter profit of 88 cents per share, largely beating analysts' expectations of 75 cents per share.
** ANN INC, $30.11, down 8.2 pct (1002 ET)
The women's apparel retailer estimated current-quarter sales below analysts' expectations as a new line of brightly colored clothes failed to attract customers at its LOFT brand, which caters to younger women.
** BREITBURN ENERGY PARTNERS LP, $19.81, down 3.9 pct (1002 ET)
The oil and gas producer on Wednesday started a public offering of 13 million units. The company intends to use proceeds from the offering to pay down debt.
** NETEASE INC, $49.29, up 8 pct (1002 ET)
The Chinese online gaming company reported fourth-quarter profit above analysts' expectations helped by growing popularity of its existing games and launch of new games such as Kung Fu Master, Soul of the Fighter and Heroes of Tang Dynasty II.
** BLACKBERRY , $16.57, up 3.3 pct (1003 ET)
Wells Fargo Securities upgraded the stock to "outperform" as it expects the company's gross margin to improve on increased BlackBerry 10 growth. BlackBerry, which is in the process of changing its legal name from Research In Motion Ltd, said on Wednesday it had its best ever first day of a launch of a new BlackBerry smartphone in Canada.
** TERADATA CORP, $63.00, down 5.3 pct (1003 ET)
The analytics and data storage company forecast a 2013 profit that may miss estimates, as its North American customers continued to keep a tight reign on budgets.
** MACY'S INC, $40.38, up 2.3 percent (1003 ET)
The department store operator reported a 11.7 percent rise in same-store sales in January, trumping the 6.2 percent rise analysts expected on average, as new fashions introduced after the holiday season kept customers coming to its stores.
** KOHL'S CORP, $45.57, up 1.4 percent (1003 ET)
The apparel and accessories store retailer reported January same-store sales that rose 13.3 percent and said comparable-store sales in the quarter rose 1.9 percent.
** TRONOX INC, $18.44, down 1.6 pct (1005 ET)
The paint materials company estimated that its fourth-quarter revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) would be lower than previously anticipated as three ore shipments were either delayed or cancelled by customers, and as it wrote down the value of its inventory by $9.6 million. The company estimated revenue of $482 million and adjusted EBITDA of $70 million for the quarter ended Dec. 31.
** EXELON CORP, $31.89, up 2.9 percent (1006 ET)
The largest nuclear operator in the United States said it will cut its dividend by 41 percent to $1.24 per share from the second quarter to free up money to invest in growth. The move was "positive subject to dividend sustainability," analysts at Tudor, Pickering, Holt & Co said, adding that the dividend was above their expectations of $1.00 to $1.10. Exelon also reported fourth-quarter profit that met analysts' estimates as Constellation Energy's contribution to margins helped offset lower energy prices and higher nuclear fuel costs. Exelon closed its acquisition of Constellation last March.
** CIGNA CORP, $60.19, up 0.9 pct (1006 ET)
The health insurer reported a higher-than-expected fourth-quarter profit, helped by the acquisition of Medicare provider HealthSpring, and raised its outlook for 2013.
** VISA INC, $158.61, down 1.3 pct (1007 ET)
The company's quarterly profit beat analysts' estimates for the ninth consecutive quarter as credit, debit and transactions grew at the world's largest payments network.
** JOHNSON & JOHNSON, $74.92, down 0.6 pct (1007 ET)
Brokerage Credit Suisse downgraded the company's stock to "underperform" from "neutral."
** DEVRY INC, $30.39, up 20 pct (1007 ET)
The for-profit education company posted a higher-than-expected quarterly profit on lower costs and higher enrollments at its medical and healthcare colleges in the United States and Canada.
** AKAMAI TECHNOLOGIES INC, $34.65, down 16.7 pct (1008 ET)
The Internet content delivery company forecast current-quarter revenue below analysts' expectations as the company plans to wind down some media contracts.
** GREEN MOUNTAIN COFFEE ROASTERS INC, $44.37, down 9.3 pct (1008 ET)
The maker of the Keurig single-cup coffee brewer and K-Cups expects sales growth in the current quarter that is slightly lower than analysts expected as retailers work through unsold inventory of its products after a slower-than-expected holiday season.
** MONSTER WORLDWIDE INC, $5.21, down 10.9 pct (1008 ET)
The online recruitment company, which is up for sale, reported a quarterly loss and said it exited its businesses in Brazil, Mexico and Turkey.
** TRIQUINT SEMICONDUCTOR INC, $4.76, down 10.8 pct (1009 ET)
The chipmaker forecast current-quarter results below analysts' estimates after some orders were pulled into the fourth quarter.
** PATTERSON-UTI ENERGY INC, $22.34, up 7.4 pct (1009 ET)
The onshore driller's fourth-quarter results beat analysts' expectations on strong performance at its pressure pumping business, which is used in the hydraulic fracturing process that releases oil and gas from shale rocks. Profit at the company's contract drilling business also exceeded analysts estimates.
** TRUE RELIGION APPAREL INC, $27.96, up 17.7 pct (1009 ET)
The premium jeans maker forecast full-year earnings between $1.89 and $1.95 per share, above analysts' expectations of $1.86 per share, according to Thomson Reuters I/B/E/S.
** ZUMIEZ INC, $22.25, up 0.5 pct (1010 ET)
The teen-focused retailer increased its fourth-quarter earnings forecast to between 65 cents and 66 cents per share.
** BUNGE LTD, $74.72, down 5.9 pct (1011 ET)
The agribusiness company reported a fourth-quarter loss, hurt by goodwill impairment and other charges, and said Chief Executive Alberto Weisser would retire.
** US AIRWAYS GROUP INC, $14.99, up 2.9 pct (1011 ET)
** AMR CORP, $1.33, up 9 pct (1012 ET)
The American Airlines parent and US Airways are hashing out the last major details of a merger agreement that would create the world's largest airline and are racing to finalize a deal, the Wall Street Journal reported citing people close to the discussions.
** SONY CORP , $15.01, down 5.1 pct (1012 ET)
The company stuck with its full-year profit forecast as a weaker yen and asset sales underpinned earnings, offsetting weaker demand for its televisions, game consoles and other devices.
** NEWS CORP, $27.51, down 2.5 pct (1012 ET)
Rupert Murdoch's company reported higher quarterly revenue and profit on strong growth at its cable assets including its Regional Sports and FX networks.
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $61.92, up 1 pct (1013 ET)
The hotelier, whose brands include Sheraton and Westin, reported a 59 percent fall in fourth-quarter profit from continuing operations as costs rose, and said it expects demand to be higher this year.
** YAHOO INC, $20.30, up 2.3 pct (1013 ET)
Pivotal research raised the Internet company's stock to "buy" from "hold."
** RANDGOLD RESOURCES LTD , $95.46, down 1.6 pct (1014 ET)
Citi Investment Research cut its target price on The Africa-focused miner's stock.
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $76.96, up 1 pct (1014 ET)
The IT services company reported a higher quarterly profit as revenue from financial services clients jumped 20 percent.
** SPRINT NEXTEL CORP, $5.70, down 1.7 pct (1014 ET)
The No.3 U.S. mobile service provider, which is seeking to sell 70 percent of its shares to Japan's SoftBank Corp, posted higher fourth-quarter revenue even as it lost subscribers due to the wind-down of its older Nextel network.
** HERBALIFE INC, $36.67, up 2.4 pct (1016 ET)
The embattled nutritional supplements company is disclosing more information about how much its U.S. distributors earned in 2012 than it did in 2011, though the details are unlikely to satisfy critics like billionaire hedge fund manager Bill Ackman.
** GEOSPACE TECHNOLOGIES CORP, $101.80, up 8.5 pct (1016 ET)
The company, which designs instruments to acquire seismic data, reported a better-than-expected quarterly profit. The company reported a first-quarter profit of $1.70, topping analyst's expectations of $1.22 per share, according to Thomson Reuters I/B/E/S.
** ATMEL CORP, $6.23, down 12.7 pct (1017 ET)
The company, which supplies chips used for making touchscreens for smartphones to Samsung Electronics and Dell Inc, forecast first-quarter revenue of $311 million to $328 million on seasonal declines in MaxTouch, memory and ASIC businesses. Analysts on an average had a first-quarter revenue forecast of $331.2 million, according to Thomson Reuters I/B/E/S.
** FMC Corp, $60.01, down 3 pct (1017 ET)
The chemicals company forecast full-year earnings between $3.81 and $4.01 per share, largely below analysts' expectations of $4 per share, according to Thomson Reuters I/B/E/S.
** TESORO CORP, $52.49, down 2.6 pct (1017 ET)
The company reported a smaller-than-expected quarterly profit of $1.34 per share, below analyst's expectations of $1.37 per share, according to Thomson Reuters I/B/E/S.
** IROBOT CORP, $20.75, down 12.9 pct (1017 ET)
The robot maker forecast first-quarter results largely below analysts' estimates late on Wednesday, citing an uncertain economic environment in Europe. It expects to break even or earn up to 7 cents per share on revenue between $98 million and $102 million. Analysts on average were expecting earnings of 7 cents per share, excluding items, on revenue of $103.2 million, according to Thomson Reuters I/B/E/S.
** PEREGRINE SEMICONDUCTOR CORP, $9.94, down 9.5 pct (1018 ET)
Canaccord Genuity cut the price target on the company's stock to $17 from $23
** ORASURE TECHNOLOGIES INC, $6.36, down 9.5 pct (1018 ET)
The company forecast a first-quarter loss between 18 cents and 19 cents per share, while analysts were expecting a loss of 14 cents per share.
** SINCLAIR BROADCAST GROUP INC, $14.10, up 2.7 pct (1018 ET)
The diversified television broadcasting company reported a quarterly profit of 73 cents per share, topping analyst's expectations of 59 cents per share, according to Thomson Reuters I/B/E/S.
** ALLSTATE CORP, $44.96, up 1.5 pct (1019 ET)
The home and auto insurer's quarterly profit fell 45 percent on losses from superstorm Sandy, but the company said it has paid out about 95 percent of Sandy claims and is seeing rate increases across businesses.
** YELP INC, $20.818, down 7 pct (1019 ET)
The consumer review website posted a bigger-than-expected quarterly loss and its shares fell 6 percent in after-market trading as the company faces competition from Facebook.
** SERVICESOURCE INTERNATIONAL INC, $6.15, down 7.2 pct (1020 ET)
The company, which helps manage service contract renewals, mainly for tech companies, reported a quarterly profit of 5 cents per share that beat analysts' expectations of 1 cent per share, according to Thomson Reuters I/B/E/S.
** SIERRA WIRELESS INC , $12.03, down 3.2 pct (1020 ET)
The Canadian wireless communication equipment maker said higher operating costs will result in a first-quarter loss, even after posting a profit that beat analysts' estimates in the latest three months.
** TOWERS WATSON CO, $64.04, up 3.6 pct (1021 ET)
The employee-benefits consultancy firm's second-quarter results easily beat analysts' estimates, and the company forecast third-quarter revenue largely above expectations. Towers Watson earned $1.48 per share, excluding items, on revenue of $946 million. Analysts on average expected earnings of $1.26 per share, excluding items, on revenue of $897 million, according to Thomson Reuters I/B/E/S. For the current quarter, the company forecast revenue between $940 million and $960 million, largely above the analysts' estimate of $943.5 million.
** IAC/INTERACTIVECORP, $43.92, up 2.1 pct (1021 ET)
The web-holding firm said growth in its search business will slow from the "meteor ride" of the past two years, but it was confident of double-digit growth for the "foreseeable future." (Compiled by Mridhula Raghavan in Bangalore)