13 Min Read
Feb 12 (Reuters) - Some U.S. stocks on the move on Tuesday:
stocks were little changed on Tuesday, with the S&P 500 holding near multi-year highs ahead of President Barack Obama's State of the Union address. The Dow Jones industrial average gained 27.65 points, or 0.20 percent, to 13,998.89. The Standard & Poor's 500 Index added 1.03 points, or 0.07 percent, to 1,518.04. The Nasdaq Composite Index dipped 1.60 points, or 0.05 percent, to 3,190.41.
** APPLE INC, $471.27, down 1.8 pct (1134 ET)
Apple Chief Executive Tim Cook called David Einhorn's lawsuit against his company a "sideshow," but said the board was considering the star hedge fund manager's proposal to issue preferred stock. Einhorn is suing the iPhone maker as part of a wider effort to get it to share more of its cash pile - one of the largest hoards in the technology industry.
** COCA-COLA CO, $37.64, down 2.5 pct (1135 ET)
The world's largest soft drink maker, with brands such as Sprite, Fanta and Minute Maid, on Tuesday said revenue rose 4 percent to $11.46 billion. But analysts were expecting $11.53 billion, according to Thomson Reuters I/B/E/S.
** BARCLAYS PLC , $20.45, up 8.6 pct (1044 ET)
New Chief Executive Antony Jenkins pledged a fresh course for the British lender, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.
** GOODYEAR TIRE & RUBBER CO, $13.43, down 3.4 pct (0952 ET)
The top U.S. tire maker posted a stronger-than-expected quarterly profit, but cut its 2013 forecast due to weakness in the European automotive market.
** FACEBOOK INC, $27.90, down 1.3 pct (0951 ET)
The company was sued by Rembrandt Social Media, a patent-holding company that claims Facebook is infringing a technology that patents the "like" function used on the social network.
** ZIOPHARM ONCOLOGY INC, $4.47, up 12 pct (0950 ET)
The cancer drug maker said a late-stage trial for its experimental bone cancer drug reached the target number of events that are required to complete the study and analyze the data. The drug palifosfamide, or ZIO-201, was being tested in patients with first-line, metastatic, soft tissue sarcoma. The company will announce results from the trial during the last week of March 2013.
** STEMCELLS INC, $2.01, up 22 pct (0950 ET)
The company said data from its trial testing purified human neural stem cells in patients with chronic spinal cord injury showed that gains in sensory function observed at six months in two of the three patients persisted at 12 months.
** ALBANY MOLECULAR RESEARCH INC, $7.20, up 18 pct (0949 ET)
The contract research and manufacturing company reported fourth-quarter results which beat analysts' estimates, helped by growth in its large-scale manufacturing business. An adjusted profit of 17 cents per share handily beat analysts' estimates of 9 cents per share, while revenue of $67.2 million beat estimates of $56.5 million. Albany expects full-year adjusted earnings in the range of 34 cents to 52 cents per share. Analysts were expecting earnings of 24 cents per share, according to Thomson Reuters I/B/E/S.
** AVON PRODUCTS INC, $20.00, up 15.7 pct (0953 ET)
The world's largest direct seller of cosmetics reported a better-than-expected quarterly profit as it sold more items, lined up more sales representatives and cut marketing and personnel costs.
** KVH INDUSTRIES INC, $12.60, down 15 pct (1054 ET)
The mobile communication equipment maker forecast 2013 earnings below analysts' estimates citing weakness in its leisure and defense markets.
** LEVEL 3 COMMUNICATIONS INC, $21.55, down 12.6 pct (0953 ET)
The network provider and content delivery company reported a quarterly that was bigger than what analysts on average expected according to Thomson Reuters I/B/E/S.
** QUALYS INC, $11.13, down 12.5 pct (1100 ET)
The cloud computing security provider forecast 2013 adjusted profit largely below analysts' estimates on Monday. "Near-term weakness is being driven particularly by the soft environment in Germany, France, and the UK," Lazard Capital Markets analyst Joel Fishbein wrote in a note, and cut his price taregt on the stock to $17 from $18.
** MICHAEL KORS HOLDINGS LTD, $63.66, up 11.7 pct (0950 ET)
The fashion company reported a sharply higher quarterly profit on Tuesday, fueled by a 70 percent gain in revenue.
** MASCO CORP, $19.79, up 11 pct (0952 ET)
The home improvement and building products company reported a better-than-expected quarterly profit of 4 cents per share.
** AMYRIS INC, down 11 pct, $3.37 (1013 ET)
Raymond James downgraded the biofuel company from "market perform" to "underperform" on valuation citing the stock's recent run.
** MELA SCIENCES INC, $1.51, down 10.5 pct (0949 ET)
The medical device maker priced an offering of 6.1 million shares of its common stock at $1.30 per share. The company plans to use the proceeds to continue the launch of its dermatology device MelaFind in the United States and European Union, for research and development activities and general corporate purposes.
** CUTERA INC, $12.35, up 9 pct (0950 ET)
The medical device maker swung to a quarterly profit that beat analysts' estimates driven primarily by sales of its aesthetic treatment products truSculpt and ExcelV.
** SPIRIT AEROSYSTEMS HOLDINGS INC, $17.36, up 7.8 pct (0948 ET)
The company, which supplies parts for aircraft, including Boeing Co's Dreamliner, reported better-than-expected quarterly results on strong global orders for aircraft and reiterated its 2013 outlook.
** AMERICAN SUPERCONDUCTORS, $2.89, down 7.6 pct (0944 ET)
The electrical component maker for wind turbines reported a third-quarter revenue that missed analysts' expectations by a wide margin as the company could not recognize revenue from one if its customers. The customer paid for the product, but could not accept the delivery, AMSC said. Accordingly, AMSC could not recognize the revenue, it said.
** CUBIC CORPORATION, $44.75, down 7.5 pct (1134 ET)
The company reported a first-quarter profit of 47 cents per share, largely below analysts' expectations of 70 cents per share.
** GRAN TIERRA ENERGY INC , $5.87, up 7.3 pct (1045 ET)
The South America-focused oil exploration and production company said it discovered oil at one of its wells in Peru. The company, which has operations in Colombia, Argentina and Brazil, said the initial drilling results showed an oil column of 99 feet.
** REXNORD CORP, $21.70, up 7 pct (0959 ET)
The industrial parts maker said it would explore strategic alternatives, including a sale of the company, less than a year after going public.
** OCZ TECHNOLGY, $2.19, up 6.2 pct (1120 ET)
Two of the solid-state driver maker's Vector series drives recived positive reviews on OCIA and ITProPortal.
"The new Vector product appears to be enterprise relevant. The enterprise base is definitely the biggest growth driver. It (share movement) could be in part due to the positive review on the Vector products," Piper Jaffray analyst Andrew Nowinski said.
** FOSSIL INC, $103.54, up 6 pct (0956 ET)
The fashion accessory maker and retailer reported a 28 percent rise in quarterly profit on improved sales across categories, especially in its direct-to-consumer business.
** SOLARCITY CORP, $17.69, up 6 percent (1000 ET)
The residential solar financing market is expected to rise to $5.7 billion in 2016 from $1.3 billion in 2012, GTM Research said on Monday. The research report also noted that SolarCity was the largest residential installer in the country in 2012, with its market share more than double that of its nearest competitor.
** GEVO INC, $2.58, up 6 pct (1030 ET)
The renewable chemicals and advanced biofuels company was granted a patent for making renewable jet fuel blendstock from isobutanol by the United States Patent and Trademark Office.
** UNILIFE CORP, $2.15, down 5.7 pct (1101 ET)
Jefferies & Co cut the target price on the company's stock to $3.50 from $5.
** EXONE CO, $28.51, down 5 pct (1106 ET)
The 3D printer maker, which debuted its shares at the higher end of the expected range on Friday on the Nasdaq, reversed some of its gains.
** BROOKDALE SENIOR LIVING, $28.32, up 5 pct (1010 ET)
The operator of senior living communities on Monday evening reported a bigger-than-expected quarterly loss with a roughly in-line revenue, but JMP Securities analyst Peter Martin said these results should be outweighed by what he called was strong guidance for cash flow from facility operations for the year. Brookdale's shares on Tuesday rose to $28.67 to reach their highest level in five years as analyst Martin stood by his "market outperform" rating on the company stock, while raising his price target to $32 from $28.
** TROVAGENE INC, $7.10, up 5 pct (1020 ET)
The molecular diagnostics company said it expects to achieve clinical validation for its test to screen carriers of human papillomavirus - a common sexually transmitted infection - in March, following which the test will be available to patients. Trovagene said it expects it KRAS cancer gene mutation test to be introduced in the market in the second quarter, and its test to detect liver cancer to be launched in the fourth quarter.
** NAVIOS MARITIME ACQUISITION CORP, $2.82, up 5 pct (1015 ET)
The owner and operator of tanker vessels posted a fourth-quarter profit that beat analyst estimates and reported a five percent higher revenue on the tanker acquisitions it made in 2012.
** GILAT SATELLITE NETWORKS LTD, $5.69, up 5 pct (1045 ET)
The Israel-based company, which provides Internet protocol-based digital satellite products and services, won a 5-year base contract by a delivery service company to upgrade and provide network connectivity to more than 5,700 locations.
** OCEAN RIG UDW INC, $16.65, down 5 pct (0949 ET)
The driller, which is majority-owned by DryShips Inc , said the drybulk shipper will offer 7.5 million Ocean Rig shares, raising about $126.4 million. DryShips will own a 59.4 percent stake in Ocean Rig following the offering, which will close on Feb. 14. The offering values Ocean Rig shares at about $16.85, a 4 percent discount to the stock's Monday close.
** KOSMOS ENERGY LTD, $12.01, down 5 pct (0957 ET)
The oil and natural gas producer offered to sell 30 million shares on Monday and added that it will not receive any proceeds from the stock sale.
** COMSTOCK RESOURCES, $13.55, down 5 pct (1032 ET)
MLV & Co lowered price target on the oil and gas company to $18 from $25 after it posted a bigger than expected loss on Monday and reported a 9 percent lower natural gas production in the fourth-quarter.
** HUNTSMAN CORP, $18.32, down 4 pct (1002 ET)
The chemical maker's quarterly results beat Wall Street estimates as it managed to raise prices on polyurethane, used in foam insulation.
** NORWEGIAN CRUISE LINE HOLDINGS LTD, $28.68, up 4 pct (1034 ET)
The global cruise line operator on Monday reported a fourth-quarter profit of $5.6 million, or 4 cents per share, compared with a loss of $1.9 million, or 1 cent per share, a year earlier. Sales rose 3 pct to $503.2 million. A day later Nomura Equity Research upgraded its rating on the company's stock to "buy" from "neutral."
** BOYD GAMING CORP, $7.17, down 4.1 pct (0953 ET)
Goldman Sachs downgraded the casino operator's stock to "sell" from "neutral," according to theflyonthewall.com.
** HERCULES OFFSHORE INC, $7.19, up 2.5 pct (0954 ET)
The shallow-water drilling contractor swung to a quarterly profit and said it embarked on its first rig reactivation due to limited availability of rigs and strong interest from customers in the Gulf of Mexico. "Market fundamentals in the U.S. Gulf of Mexico strengthened throughout 2012, to levels that, in many respects, are the best they have been in the long history of drilling in the region," CEO John Rynd said.
The stock was at its highest level in a year.
** NEXEN INC , $27.43, up 2 pct (0951 ET)
U.S. regulators have approved the $15.1 billion takeover of the Canadian oil and gas company by China's state-owned CNOOC , removing the final barrier to China's largest foreign takeover. The companies had been awaiting U.S. approval of the deal because Nexen has assets in the Gulf of Mexico, as well as in Canada and other countries.
Nexen's U.S.-listed shares were trading at their highest level in a year.
** NIELSEN HOLDINGS NV, $33.34, up 2 pct (0959 ET)
The TV ratings company increased the size of its contract with India's top software services exporter, Tata Consultancy Services, to $2.5 billion from $1 billion.
The stock was trading art its highest level in a year. (Compiled by Mridhula Raghavan in Bangalore)