April 4, 2014 / 2:48 PM / 3 years ago

MARKET PULSE-GrubHub, Opower, Halozyme, Aetrium, Mylan, IMS Health

8 Min Read

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks advanced slightly on Friday, pulling back after the S&P 500 earlier scaled a fresh high, as the March payrolls report suggested the economy may be gaining momentum. The Dow Jones industrial average was up 0.25 percent at 16,613.22, the S&P 500 was up 0.29 percent at 1,894.18 and the Nasdaq Composite was down 0.32 percent at 4,224.201.

** GRUBHUB INC, $38.9, +49.62 pct

Shares of the biggest U.S. online food delivery services company rose as much as 57 percent in its market debut as investors scrambled for a piece of the fast-growing consumer internet company.

The stock opened at $40 and touched a high of $40.80, valuing the company at about $3.20 billion.

** OPOWER INC, $24.1, +26.84 pct

Shares of Opower, a provider of cloud-based software to the utility industry, opened at $25 on its market debut, above initial public offering price of $19.

Cloud-based technology providers have been increasingly popular among investors as their services are sought out by large companies across industries.

** HALOZYME THERAPEUTICS INC, $8.779, -24.25 pct

The drugmaker said it had halted enrolment of patients and dosing of its cancer drug in a mid-stage trial for the treatment of pancreatic cancer, after the recommendation of an independent safety committee.

** AETRIUM INC, $7.1035, +65.20 pct

The company, which makes electromechanical and electrothermal equipment used in testing of integrated circuits, said late on Thursday it had acquired KBS Building Systems, which makes and distributes modular housing units for residential and commercial use.

The deal is for $5 million in cash, and includes $5.5 million six-month promissory note made by a wholly-owned subsidiary of Aetrium, and the assumption and payoff of about $1.4 million in debt.

** BOEING INC, $129.65, +0.68 pct

** MERCURY SYSTEMS INC, $13.96, +5.52 pct

Boeing is considering buying the company which supplies digital signal and image processing systems to the aerospace and defense industry, according to two people familiar with the matter.

Mercury, which has a market value of roughly $440 million, supplies to companies including Boeing, Lockheed Martin Corp , Northrop Grumman Corp and Raytheon Co.

** MYLAN INC, $52.98, +6.26 pct

Sweden's Meda AB said on Friday it had rejected a takeover approach by the U.S. generic drugmaker, scuppering a potential deal to create a combined company worth around $24 billion.

** ANADARKO PETROLEUM CORP, $101.55, +2.56 pct

The energy company agreed on Thursday to pay more than $5 billion to clean up areas across the United States polluted by nuclear fuel, wood creosote and rocket fuel waste that caused cancer and other health problems.

** IMS HEALTH HOLDINGS INC, $22.8, +14.00 pct

Shares of the healthcare information company rose as much as 14 percent in their trading debut on Friday, valuing the company at up to $7.55 billion.

The TPG Capital Management backed company's IPO was priced on Thursday at $20 per share, above the midpoint of the expected range of $18-$21 per share.

** CHINA SUNERGY CO LTD, $5.7061, +13.22 pct

The solar panels maker forecast higher shipments for the year, after strong sales in its domestic market helped it post a smaller fourth-quarter loss.

** SYNNEX CORP, $77.65, +24.40 pct

The hardware distributor reported better-than-expected quarterly results as it benefited from higher spending on information technology and the acquisition of International Business Machines Corp's customer-care business process outsourcing operations.

** OCEAN POWER TECHNOLOGIES INC, $2.975, -21.71 pct

The company, which makes the PowerBuoy system that generates electricity from ocean waves, said it would sell 3.8 million shares at $3.10 per share, an 18.4 percent discount to the stock's closing price on Thursday. The company intends to use the proceeds for working capital expenses and to develop and test the PowerBuoy systems.

** QKL STORES INC, $3.78, -12.70 pct

The supermarket chain operating in Northeastern China and Inner Mongolia reported a 21.5 percent fall in fourth-quarter revenue and a 7.2 percent fall in sales at stores open for at least a year as fewer people visited its stores.

** CHINA FINANCE ONLINE CO LTD, $5.48, +6.20 pct

The Beijing-based company posted a profit in the in the quarter ended Dec. 31 compared with a year-ago loss, as revenue rose five-fold to $25.8 million on strong demand for its brokerage services in Hong Kong and China.

The company's profit was 7 cents per American depository share in the quarter, compared with a loss of 22 cents per ADS a year earlier.

** POTBELLY CORP, $18.46, +7.83 pct

Brokerage William Blair upgraded its rating on the sandwich chain's stock to "outperform" from "marketperform", according to theflyonthewall.com.

** E*TRADE FINANCIAL CORP, $21.47, -3.14 pct

** TD AMERITRADE HOLDING CORP, $31.17, -2.65 pct

** CHARLES SCHWAB CORP, $26.97, -1.46 pct

Shares of E*Trade and Ameritrade continued their fall on Friday over concerns that a core source of their revenue could be eliminated by regulators. Both companies are heavily dependent on payments from professional trading firms, or market makers, in exchange for sending them hundreds of thousands of stock orders from retail customers every day.

Schwab, the largest competitor in the discount brokerage market as measured by capitalization, is not as vulnerable, said Richard Repetto, an analyst at Sandler O'Neill and Partners.

On Wednesday, a member of the U.S. Securities and Exchange Commission said the regulator should consider a temporary ban on a similar rebate practice known as "maker-taker" that is used by regulated stock exchanges to attract orders.

** EXACT SCIENCES CORP, $13.99, +8.28 pct

The company said on Friday said its offering of 10 million shares was priced at $12.75 each.

The company intends to use the net proceeds, expected to be about $119.7 million, to fund its efforts related to FDA approval for its colorectal cancer screening test and marketing it, besides for working capital.

** HYDROGENICS CORP, $25, -5.91 pct

The fuel-cell maker forecast first-qurater revenue of $7.0-$7.5 million, lower than analysts' expectations of $11.6 million, according to Thomson Reuters I/B/E/S. It said delays in deliveries by customers would hurt revenue. The company reiterated its 2014 outlook.

** WESTERN ASSET MORTGAGE CAPITAL CORP, $14.61, -5.38 pct

The company, which finances residential mortgage backed securities (RMBS), said it would sell 13 million shares and intends to use the estimated gross proceeds of about $193 million to purchase RMBS.

** GLOBAL PAYMENTS INC, $69.61, -2.83 pct

The payment processor on Thursday reported a fall in third-quarter net income as interest and other expenses rose two-fold. The company's adjusted profit beat Wall Street's expectations but revenue growth missed estimates, according to Thomson Reuters I/B/E/S.

The company also raised its full-year profit forecast and expanded its share repurchase authorization to $365 million.

At least four brokerages raised their price target on the company's stock on Friday.

** USA TECHNOLOGIES INC, $2.1799, +7.92 pct

The maker of cashless payment systems signed an agreement with Pepi Co, a food- and coffee-vending machine provider, for the use of its products across all of Pepi's operations, including mobile payments and cafeteria service points. Pepi already uses the company's products to offer cashless payments on its vending machine network.

** five9 Inc

The provider of cloud software for customer care centers will make its market debut on Friday.

The cloud-based software provider's IPO was priced on Thursday at $7 per share, valuing the company at about $322.3 million. The price was below the expected range of $9-$11 per share. (Reporting by Abhirup Roy in Bangalore; Editing by Savio D'Souza)

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