10 Min Read
Aug 29 (Reuters) - Some U.S. stocks on the move on Thursday:
The Dow Jones industrial average fell 0.50 percent, the S&P 500 lost 0.59 percent and the Nasdaq Composite added 1 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.
** METHODE ELECTRONICS INC, $23.87, up 36 pct (11:03 a.m. ET)
The company, which makes touch screens and integrated centers stacks for automobiles, cables and power connectors, reported a 41 percent jump in first-quarter revenue due to higher sales in its automotive, interconnect and power products businesses. The company also raised its full-year sales forecast.
** 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.
** K12 INC, $37.29, up 16.7 pct (10:53 a.m. ET)
The online education services provider reported a 19 percent rise in fourth-quarter revenue due to a jump in management services it provides to public schools. These services account for almost 90 percent of the company's total revenue.
** SHILOH INDUSTRIES INC, $12.35, up 8 pct (10:44 a.m. ET)
The company, which provides noise- and vibration-reducing products to automotive and other industrial markets, reported a 17 percent jump in third-quarter revenue due to higher demand in North America.
* 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.
** SEAWORLD ENTERTAINMENT, $31.47, up 6 pct (10:47 a.m. ET)
The amusement parks owner's stock recouped its 6 percent fall on Wednesday after Bloomberg reported that the company slashed ticket prices due to a fall in attendance. (link.reuters.com/cad72v)
However, Wells Fargo analyst Timothy Conder said on Thursday that the concerns about price cutting at SeaWorld's Orlando park ignore the on-going industry shift to dynamic pricing to maximize revenue and that he would use "media related weakness" to build positions in the stock.
** MWI VETERINARY SUPPLY, $144.00, up 4 pct (11:01 a.m. ET)
The animal health products distributor said it agreed to acquire all the assets of privately-held IVESCO Holdings LLC for an enterprise value of $67.5 million. The deal is expected to be slightly accretive to MWI in fiscal year 2014.
** 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 2.64 pct (10:53 a.m. ET)
The China-based company's muted forecast gave little hope of ending a string of quarterly losses, as it struggles to reduce its dependence on Europe.
** SEABRIDGE GOLD, $13.88, down 5 pct (10:22 a.m. ET)
** ROYAL GOLD, $57.89, down 3.6 pct
** IAMGOLD CORP, $5.9, down 4.2 pct
** ENDEAVOUR SILVER CORP, $4.88, down 4.9 pct
** HECLA MINING CO, $3.39, down 3.8 pct
** FIRST MAJESTIC SILVER CORP, $13.91, down 3.7 pct
Gold prices fell on Thursday, following a five-day rally, as concerns abated that United States-led forces would soon launch a military strike on Syria, while investors awaited U.S. data for clues on the Federal Reserve's next move.
Spot gold had gained nearly $70 an ounce in five sessions to a three-and-a-half month high of $1,433.31 on Wednesday. It dropped 0.5 percent to $1,411.06 an ounce by 1143 GMT on Thursday.
Silver prices retreated from a three-and-a-half month high of $25.08 an ounce hit on Wednesday, down 1 percent to $24.09.
** 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, $66.98, down 4 pct (11:06 a.m. ET)
** ZALE CORP, $11.89, up 2.2 pct (11:05 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.
** 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, $62.32, down 10.4 pct (10:57 a.m. ET)
The footwear retailer, known for its Journeys brand, slashed its adjusted profit outlook for the year as it battles a tough back-to-school season.
** TELECOMMUNICATION SYSTEMS INC, $2.61, up 2.9 pct (10:27 a.m. ET)
The wireless communication technology provider won a contract from the Defense Information Systems Agency to provide managed satellite services, terrestrial support and 24-hour support for the U.S. Marine Corps' tactical satellite communications network. The initial funding for the contract is $12.8 million for the base 12-month period starting Aug. 1.
** 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)