Aug 29 (Reuters) - Some U.S. stocks on the move on Thursday:
Stocks edged lower at the open as traders awaited developments in Syria, and as stronger-than-expected U.S. economic data lent weight to the possibility of a wind-down soon in the Federal Reserve’s stimulus program. The Dow Jones industrial average fell 0.03 percent, the S&P 500 lost 0.08 percent and the Nasdaq Composite added 0.12 percent.
** VODAFONE GROUP PLC, $31.84, up 8.2 pct (9:59 a.m. ET)
** VERIZON COMMUNICATIONS INC, $48.07, up 3.2 pct
Vodafone said on Thursday it was in talks with Verizon to sell its 45 percent stake in their U.S. joint venture Verizon Wireless for what a Bloomberg report said would be about $130 billion.
** FACEBOOK INC, $41.56, up 2.5 pct (9:57 a.m. ET)
Some of Mark Zuckerberg’s mutual fund backers delivered a tough message on compensation for the leaders of the company.
Fidelity Investments, led by its $98 billion Contrafund, was among those voting against the pay of the social media company’s top leaders in a non-binding contest at its annual meeting in June, its first since going public.
** GUESS INC, $30.47, up 11.6 pct (10:00 a.m. ET)
The company’s second-quarter results beat Wall Street estimates, helped by recovering sales in North America, and bucked a broader trend of falling sales for apparel retailers.
** US AIRWAYS, $15.77, up 2.8 pct (10:00 a.m. ET)
** AMERICAN AIRLINES, $3.22, up 5.6 pct
American Airways, US Airways and the U.S. Justice Department said on Wednesday they were open to settling a court fight over whether the two companies should be allowed to merge, but there was no sign of an imminent agreement.
* BOEING CO, $104.34, up 1 pct (10:01 a.m. ET)
Canada’s WestJet Airlines Ltd said on Thursday it has reached a preliminary agreement to purchase 65 737 MAX aircraft from Boeing. Boeing said the pending order is valued at $6.3 billion at current list prices.
** STEMLINE THERAPEUTICS INC, $36.19, up 7 pct (10:01 am ET)
Jefferies began its coverage on the drugmaker with a “buy” rating citing the potential of its lead experimental cancer drug SL-401. The drug is entering a pivotal mid-stage trial next year. The brokerage also set a price target of $60 on the Stemline’s stock.
** NEUROCRINE BIOSCIENCES INC, $14.95, up 3.8 pct (10:01 a.m. ET)
Deutsche Bank analysts raised their price target on the company’s stock to $25 from $15, saying analysts are underestimating the potential of the company’s experimental drug, Elagolix, in treating uterine fibroids. The drug is already in a late-stage study as a therapy for endometriosis pain. Elagolix is also in mid-stage studies with patients having uterine fibroids.
Roth Capital analysts initiated coverage on Neurocrine’s stock with a “buy” rating and a price target of $14.40, citing similar reasons.
** JA SOLAR HOLDINGS CO LTD, $7.58, down 4.9 pct (10:02 a.m. ET)
The company posted a smaller quarterly loss as it shipped more solar panels to newer markets such as Japan. Its net loss narrowed to $21.6 million, or 58 cents per American depositary share (ADS) in the second quarter, from $72.1 million, or $1.91 per ADS, a year earlier.
** WILLIAMS-SONOMA INC, $55.80, down 2 pct (10:02 a.m. ET)
The upscale home furnishings chain on Wednesday reported a drop in quarterly gross margin on bigger discounts and its outlook pointed to weaker sales trends in the back half of the year.
** ARENA PHARMACEUTICALS INC, $6.35, down 5.1 pct (10:03 a.m. ET)
The company said a patient being treated with the company’s experimental lung drug experienced a heart rhythm disorder, raising concerns over the drug’s safety.
** SIGNET JEWELERS LTD, $67.06, down 4 pct (10:03 a.m. ET)
The company reported higher second-quarter sales on Thursday as shoppers spent more per visit at its Kay Jewelers and Jared stores in the United States, but business at its British stores slipped.
** PERCEPTRON INC, $10.62, up 23.5 pct (10:04 a.m. ET)
The company, which sells non-contact measurement and inspection products to the automotive and manufacturing industries, reported a 62 percent jump in fourth-quarter revenue and said orders almost doubled, helped by higher demand from Europe.
** THE FRESH MARKET INC, $49.27, down 9.2 pct (10:05 a.m. ET)
The specialty grocer on Wednesday reported second-quarter sales lower than analysts’ estimates and lowered its fiscal 2013 profit forecast.
UBS on Thursday downgraded its rating on the company’s stock to “neutral” from “buy,” according to Theflyonthewall.com
** CAMPBELL SOUP CO, $43.11, down 3.6 pct (10:05 a.m. ET)
The world’s largest soup maker reported a 9 percent rise in adjusted profit, helped by acquisitions and strengthening U.S sales of condensed soups and broth. (UPDATE)
** EGAIN CORP, $12.16, up 12.4 pct (10:05 a.m. ET)
The call center software maker reported better-than-expected results for the fourth quarter on Wednesday, boosted by higher revenue across businesses.
The company’s revenue from its largest business - subscription and support - rose 42 percent to $8.9 million in the quarter. Brokerage Needham and Co raised its price target on the stock to $14 from $12.
** CASELLA WASTE SYSTEMS INC, $5.34, up 8 pct (10:06 a.m. ET)
The waste management company reported better-than-expected results for the first quarter due to higher waste volumes. The company also forecast full-year revenue largely above analysts’ estimates.
** CORINTHIAN COLLEGES INC, $2.42, down 7.2 pct (10:06 a.m. ET)
The for-profit education provider reported a 3 percent drop in fourth-quarter revenue and said student sign-ups fell more than the company had expected, mainly due to fewer sign-ups for its online programs. Corinthian said it expected the slide in online new student enrollments to continue in the current quarter.
** GENESCO INC, $63.05, down 9.3 pct (10:06 a.m. ET)
The footwear retailer, known for its Journeys brand, estimated second-quarter results below analysts’ forecast, hurt by challenging sales environment, and the company slashed its adjusted profit outlook for the current year.
** CONOCOPHILLIPS, $66.10, down 1 pct (10:07 a.m. ET)
The global exploration and production company submitted the highest bid on a single tract on Wednesday for drilling rights in the western Gulf of Mexico lease sale, which attracted the second-lowest number of bids since 1983, regulators said. (Compiled by Mridhula Raghavan; Editing by Joyjeet Das)