July 16, 2013 / 3:19 PM / in 4 years

MARKET PULSE-Coca-Cola, Liquidity Services, homebuilder stocks

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July 16 (Reuters) - Some U.S. stocks on the move on Tuesday:

WALL ST LITTLE CHANGED AFTER EIGHT-DAY RUN

Stocks were little changed on Tuesday due to profit-taking after the S&P 500’s eight-day advance and investor caution ahead of the Federal Reserve Chairman’s congressional testimony. The Dow Jones Industrial Average was up 0.04 percent. The Standard & Poor’s 500 Index gained 0.09 percent. The Nasdaq Composite Index was down 0.03 percent.

** COCA-COLA CO, $40, down 2 pct (1110 ET)

The food and beverage company said its quarterly profit fell due to ongoing economic malaise and unusually poor weather, sending its shares down. Net income dipped to $2.68 billion, or 59 cents per share, in the second quarter, from $2.79 billion, or 61 cents per share, a year earlier, it said on Tuesday. Excluding items, earnings were 63 cents per share, in line with the average analyst estimate, according to Thomson Reuters I/B/E/S. Revenue dropped 3 percent to $12.75 billion.

** LIQUIDITY SERVICES INC, $29.87, down 7.9 pct (1038 ET)

The online auctioneer said it expects third-quarter adjusted profit of between 43 cents and 45 cents per share. Analysts on average were expecting profit of 51 cents per share, according to Thomson Reuters I/B/E/S. The company also said it would provide a lowered fiscal 2013 adjusted earnings outlook when it reports quarterly results on Aug. 7.

** ORASURE TECHNOLOGIES INC, $4.88, up 6 pct (1108 ET)

Cowen & Co upgraded the stock of the medical diagnostic products maker to “outperform” from “market perform,” saying that investors were applying “overly conservative” assumptions to Orasure’s growth assets. The brokerage added that Orasure is uniquely positioned to benefit from growth in screening for Hepatitis C virus infection.

** WHITEWAVE FOODS CO, $18.14, up 4 pct (1035 ET)

The company, which sells Silk soy milk and Horizon organic dairy products, on Monday said it expects sales in the quarter ended June to rise 10 percent to $616 million, driven by growth across its North America and Europe segments. Analysts on average expect sales of $608.2 million, according to Thomson Reuters I/B/E/S.

** SONUS NETWORKS INC, $3.27, up 3.2 pct (1037 ET)

Lazard Capital Markets raised its rating on the voice and data communication equipment maker’s stock to “buy” from “neutral,” saying the company is set to win greater market share following Oracle Corp’s acquisition of rival Acme Packet Inc.

** RIO TINTO PLC, $43.67, up 3.2 pct (1051 ET)

The company is pushing ahead with plans to boost iron ore output over the next 18 months, as it counts on demand from Chinese steel mills holding up, but the miner is assessing if it can meet the target using existing mines to control costs.

** MOSAIC CO, $54.30, down 3.2 pct (1037 ET)

U.S. fertilizer company Mosaic Co on Tuesday reported a lower quarterly profit as phosphate and potash prices slipped. Delayed spring planting in the United States due to cool weather compressed the usual fertilizer application season for producers such as Mosaic, Potash Corp of Saskatchewan, CF Industries Holdings Inc and Agrium Inc .

The fertilizer company will also run its Canadian potash mines at less than 75 percent of capacity collectively for maintenance in the current third quarter, as prices for the crop nutrient slip.

HOMEBUILDER STOCKS

** D.R. HORTON INC, $22.20, up 2 pct (1037 ET)

** MASCO CORP, $20.80, up 2 pct (1037 ET)

** MDC HOLDINGS INC, $33.89, up 3 pct (1037 ET)

** TOLL BROTHERS INC, $34.84, up 3 pct (1038 ET)

** PULTEGROUP INC, $19.85, up 2 pct (1038 ET)

** LENNAR CORP, $36.31, up 2 pct (1039 ET)

** KB HOME, $19.77, up 4 pct (1039 ET)

** BEAZER HOMES USA INC, $19.04, up 3 pct (1040 ET)

U.S. homebuilder confidence rose in July to its strongest level in seven-and-a-half years as tightening supply and solid demand even in the face of rising mortgage rates fueled the sector’s recovery, showed data released by the National Association of Home Builders on Tuesday.

** SIGA TECHNOLOGIES INC, $3.45, up 6 pct (1039 ET)

The pharmaceutical company said it has qualified for a payment of about $79 million after it made the third delivery of its smallpox antiviral drug Arestvyr to the United States government’s strategic national stockpile. The company has delivered a total of about 590,000 courses, under a contract, over the past five months.

SOLAR STOCKS

** CANADIAN SOLAR INC, $13.59, up 2.5 pct (1039 ET)

** JINKOSOLAR HOLDING CO LTD, $11.61, down 3.4 pct (1040 ET)

** YINGLI GREEN ENERGY HOLDING, $4.09, up 1.6 pct (1041 ET)

** SUNTECH POWER HOLDINGS CO, $1.58, up 12.8 pct (1041 ET)

** HANWHA SOLARONE CO LTD, $3.34, up 5.3 pct (1041 ET)

** SUNEDISON INC, $9.59, down 2 pct (1042 ET)

Shares of solar companies continued to rally for a second day after China on Monday said it planned to more than quadruple solar power generating capacity to 35 gigawatts by 2015. The move boosts prospects for domestic companies that have been slapped with import duties in the United States and Europe even as overseas demand flags.

** RENESOLA LTD, $3.38, up 17 pct (1042 ET)

The Chinese solar wafer and panel maker raised its second-quarter solar wafer and module shipment estimate to 760 megawatts(MW)-770 MW, from 700 MW-720 MW. It also raised its quarterly revenue forecast to $365 million-$375 million, from $310 million-$330 million. The stock was the biggest percentage gainer on the New York Stock Exchange on Tuesday morning.

** SYNTA PHARMACEUTICALS CORP, $5.64, up 3.6 pct (1043 ET)

JMP Securities analysts raised their rating on the company’s stock to “market outperform” from “market perform,” saying that the company’s experimental cancer drug ganetespib has a high likelihood of being successful in combination with an approved chemotherapy drug in a late-stage study among patients with non-small-cell lung cancer. “We believe market participants continue to underappreciate the level of clinical benefit demonstrated by ganetespib thus far,” analysts Michael King and Carter Gould wrote in a note to clients.

** TENET HEALTHCARE CORP, $45.28, up 3.5 pct (1043 ET)

** HCA HOLDINGS INC, $38.97, up 4.7 pct (1043 ET)

The largest U.S. for-profit hospital operator, on Tuesday said facility admissions rose more than 1 percent during the second quarter and it expects to report a rise in earnings and revenue, pushing shares up 5 percent.

** SHFL ENTERTAINMENT INC, $22.74, up 21.6 pct (1044 ET)

** BALLY TECHNOLOGIES INC, $65.29, up 7 pct (1044 ET)

Casino games maker Bally Tech said it will buy SHFL Entertainment for about $1.3 billion to expand in Asia and Australia. The offer of $23.25 per share in cash represents a 24 percent premium to SHFL’s Monday close.

** HEALTH MANAGEMENT ASSOCIATES INC, $16.79, up 0.2 pct (1044 ET)

Hospital operator Health Management Associates Inc HMA.N is urging its shareholders to reject shareholder Glenview Capital Management’s attempt to replace all of its board members with the hedge fund’s nominees, according to a federal regulatory filing on Monday.

CHARLES SCHWAB CORP, $21.17, down 2.4 pct (1045 ET)

The online broker posted a 7 percent fall in quarterly profit as growth in net new assets slowed and expenses rose.

The company’s net profit fell to $256 million, or 18 cents per share, in the second quarter, from $275 million, or 20 cents per share, a year earlier. Revenue rose 4 percent to $1.34 billion.

** JOE‘S JEANS INC, $1.49, down 19.7 pct (1045 ET)

The jeans maker on Monday reported second-quarter results that missed analysts’ estimates as an increased mix of sales from its lower margin line and higher expenses hurt its overall gross margin.

Joe’s Jeans earned 2 cents per share in the second quarter on revenue of $30.9 million. Analysts on average were expecting profit of 3 cents per share on revenue of $32 million, according to Thomson Reuters I/B/E/S.

** HEIDRICK & STRUGGLES INTERNATIONAL INC, $14.98, down 16 pct (1045 ET)

The executive search firm said late on Monday it had ended talks to sell itself and would continue to operate as a standalone company. Heidrick & Struggles also said Chief Executive Kevin Kelly had stepped down.

** NQ MOBILE INC, $10.22, up 4.3 pct (1046 ET)

The Chinese mobile internet service provider raised its second-quarter revenue forecast to more than $40 million from $38.5 million-$38.8 million.

** BAIDU INC, $107.20, up 5.5 pct (1046 ET)

China’s top internet search engine plans to acquire app store 91 Wireless for $1.9 billion to strengthen its foothold in the country’s highly competitive mobile computing sector.

** BERRY PLASTICS GROUP INC, $20.91, down 6 pct (1046 ET)

The consumer packaging company estimated its third-quarter revenue to decline $1.22 billion to $1.23 billion. Analysts on average were expecting $1.25 billion, according to Thomson Reuters I/B/E/S.

** PENNANTPARK FLOATING RATE CAPITAL LTD, $14.07, down 3.6 pct (1047 ET)

The company, which invests in startups whose debt is rated below investment grade, priced its public offering of 4.4 million shares of its common stock at $14.20 per share, a discount of 3 percent to its Monday’s close. The company plans to use the proceeds from the offering for investment in existing portfolio companies, repayment of debt and for other general corporate purposes. The company’s outstanding shares were 10.3 million as of May 9.

** CINTAS CORP, $46.58, down 2.7 pct (1047 ET)

The supplier of rental uniforms and ancillary products reported fourth-quarter profit of 69 cents per share, which was below analysts’ estimates. Analysts on average expected profit of 70 cents per share, according to Thomson Reuters I/B/E/S. The company’s fiscal 2014 forecast was also largely below analysts’ estimates.

** MARATHON PETROLEUM CORP, $70.38, down 3.7 pct (1047 ET)

The refining company on Monday said it expects lower second-quarter earnings as the cost of some of the crude oil it processes into fuels rose.

** ALPHA NATURAL RESOURCES INC, $5.43, down 2.3 pct (1048 ET)

The coal miner’s subsidiary Cumberland Coal Resources suspended production at an underground longwall mine in Greene County, Pennsylvania due to adverse geological conditions. The company said it would take several weeks to resume production.

** COEUR D‘ALENE MINES CORP, $12.76, up 5.6 pct (1048 ET)

The No. 1 U.S.-based silver miner said it had cut 40 jobs since May and deferred several capital projects. The company said nearly 15 percent of its exploration budget for the year had been reallocated to nearer-term, higher-grade targets. Miners across the globe are under pressure to cut costs as they contend with rising wages, labor unrest and concerns about price volatility. Coeur’s second quarter silver production rose 21 percent to 4.6 million ounces from the first quarter. (Compiled by Lehar Maan; Editing by Joyjeet Das)

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