13 Min Read
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks rose on Friday, with high dividend-paying utility stocks leading gains and benchmark Treasury yields at a 14-month low, even as U.S. air strikes in Iraq added to a string of geopolitical uncertainties. The Dow Jones industrial average was up 0.93 percent at 16,520.73, the S&P 500 was up 0.91 percent at 1,926.97 and the Nasdaq Composite was up 0.69 percent to 4,365.09.
** TEKMIRA PHARMACEUTICALS CORP, $19.65, +37.70 pct
The biotechnology company said on Thursday that the U.S. Food and Drug Administration had modified its clinical hold status on its experimental Ebola treatment to enable its potential use in humans infected with the virus.
** MARRONE BIO INNOVATIONS INC, $5.49, -42.45 pct
The crop protection and water treatment product maker reported a bigger-than expected loss, hurt by adverse weather across its growing regions.
** ZYNGA INC, $2.75, -5.82 pct
The mobile gaming company's investors will have to wait until at least next year to see if the company can grow profitably, analysts said after the "Farmville" creator cut its 2014 revenue outlook. At least eight brokerages cut their price targets on the stock, by as much as $2 to a low of $2.83.
Zynga's shares fell as much as 7 percent to a 14-month low of $2.71 in heavy early trading on the Nasdaq on Friday.
** WILLDAN GROUP INC, $8.97, +22.04 pct
The consulting service provider reported a 32 percent rise in second-quarter revenue. Willdan said on Thursday that it got more contracts in its energy efficiency services business, its largest, driven by energy audits in New York and California.
** GREEN BANCORP INC, $16.845, +12.30 pct
The lender's offering of 4.7 million shares raised $70.5 million after it was priced at $15 per share, at the low end of its expected range.
** HANGER INC, $22.2, -25.68 pct
The medical device maker cut its full-year forecast for profit, sales and same-center sales and reported lower-than-expected results in the second quarter. Noble Financial downgraded the stock to "hold" from "buy". Jefferies cut its price target on the stock to $30 from $41, compared with the stock's median price target of $37.
** SHORETEL INC, $6.91, +14.98 pct
The communication equipment maker reported fourth-quarter adjusted earnings per share above the average analyst estimate on Thursday, helped by higher margins in its hosting division
** UNITED-GUARDIAN INC, $23.0601, -8.49 pct
The maker of ingredients for cosmetics and healthcare products reported an 18 percent drop in second-quarter revenue, partly due to the loss of a customer that accounted for 3.1 percent of its revenue. The company's second-quarter profit fell by a third.
** RADNET INC, $6.99, +21.99 pct
The diagnostic service provider raised its full-year revenue forecast to $705-$735 million from $700-$730 million. The company also reported better-than-expected profit and revenue in the second quarter.
** ALEXZA PHARMACEUTICALS INC, $3.958, -18.56 pct
The drugmaker reported lower-than-expected revenue in the second quarter. The company's revenue ramp for its drug, Adasuve, used to treat agitation in schizophrenia patients, appears slower than originally targeted, Roth Capital Partners analysts said.
** TEARLAB CORP, $3.56, -19.82 pct
The diagnostic product maker cut its 2014 revenue forecast to $22 million-$23 million from $30 million-$33 million. The company also reported lower-than-expected revenue in the second quarter.
** SPECTRUM PHARMACEUTICALS INC, $7.64, +5.52 pct
The drugmaker reported a net loss of 6 cents per share in the second quarter, smaller than the average analyst estimate of 9 cents. Roth Capital Partners analysts say they expect revenue streams from its cancer drugs, Beleodaq and CE-Melphalan, to strengthen Spectrum's business model.
** BANKRATE INC, $14.1, -14.49 pct
The financial data provider cut its 2014 adjusted EBITDA forecast to $141 million-$145 million from $145 million-$150 million. Bankrate says it expects insurance volume growth in second half of year to be lower than its previous estimate.
** CHINA HGS REAL ESTATE INC, $3.434, +53.30 pct
The Chinese real estate developer reported a four-fold rise in third-quarter revenue due to strong demand and an increase in average selling price.
** SOTHEBY'S, $37.47, -7.91 pct
The auction house reported lower-than-expected profit and sales in the second quarter. The company's second-quarter adjusted profit fells 4 percent to $87.84 million, or $1.26 per share. Analysts on average had expected a profit of $1.43 per share.
** IGNITE RESTAURANT GROUP INC, $8.22, -33.60 pct
The restaurant operator reported lower-than-expected results in the second quarter. Brokerage Raymond James downgraded the stock to "underperform" from "market perform". Piper Jaffray & Co cut its price target to $14 from $17.
** BLUCORA INC, $15.42, -8.30 pct
The online tax-preparation and web-search provider forecast current-quarter revenue well below the average analyst estimate. Benchmark Co cut its target price on the stock to $27 from $28, Wedbush Securities cut its price target to $21 from $24.
** VOLCANO CORP, $12.23, -22.50 pct
The medical device maker on Thursday cut its full-year revenue forecast to $397 million-$401 million from $413 million-$421 million. At least five brokerages cut their price targets on the stock.
** COMPUTER SCIENCES CORP, $57.61, -6.07 pct
The information technology service company's first-quarter operating income fell due to a rise in investments and a restructuring of contracts. Computer Sciences forecast full-year profit from continuing operations largely below analysts' average estimate.
** AMERICAN AIRLINES GROUP, $36.8075, -0.14 pct
The airline company's total passenger load factor, a measure of capacity utilization, fell 1.7 percentage points to 85.1 in July.
** AIR METHODS CORP, $59.49, +11.84 pct
The air ambulance service provider reported better-than-expected second-quarter results, helped by a 7 percent increase in patient transports.
** TORNIER NV, $21.85, +12.11 pct
The medical device maker raised its full-year revenue forecast and reported better-than-expected profit and revenue in the second quarter. At least four brokerages, including JPMorgan, raised their price targets on the stock to as much as $28.
** AURICO GOLD INC, $4.46, +4.69 pct
The Canadian gold miner reported a narrower loss in the second quarter and raised its 2014 capital investment estimate for its Young-Davidson mine to $135 million from $110 million.
** HMS HOLDINGS CORP, $20.72, +11.64 pct
The company, which helps health benefit providers catch erroneous payments, reported better-than-expected profit and revenue in the second quarter, helped by an increase in Medicaid coverage due to the Affordable Care Act, also known as Obamacare.
** NVIDIA CORP, $18.78, +7.56 pct
At least seven brokerages raised their price targets on the graphic chipmaker's stock after the company forecast current-quarter revenue above analysts' average estimates, as it benefits from higher demand for PCs from businesses looking to replace older computers.
** MAGNUM HUNTER RESOURCES CORP, $6.2, +6.90 pct
The oil and gas producer reported a lower-than-expected loss in the second quarter and said it was on track to meet its 2014 exit rate target of 32,500 barrels of oil equivalent per day.
** MASIMO CORP, $21.45, -11.47 pct
Roth Capital Partners cut its price target on the medical technology company to $28 from $32 due to a weak second-quarter performance on some order delays.
** LIONS GATE ENTERTAINMENT CORP, $32.575, +7.33 pct
The movie studio reported a better-than-expected first-quarter profit, helped by lower marketing costs. Lions Gate's adjusted net income doubled in the first-quarter.
** ASSURED GUARANTY LTD, $22.9, +4.23 pct
The bond insurer reported better-than-expected results in the second quarter helped by change in value of certain derivatives.
** RAPTOR PHARMACEUTICAL CORP, $10.34, +25.49 pct
The drugmaker raised its full-year forecast for sales of its genetic disease drug Procysbi to $65 million-$70 million from $55 million-$65 million. The company also reported better-than-expected profit and revenue in the second quarter.
** MONSTER BEVERAGE CORP, $69.21, +6.31 pct
The energy drinks maker reported better-than-expected second quarter revenue and profit, helped by higher sales of its green Monster Energy drink and the new Valentino Rossi energy drink launched in Europe and South Africa.
** MEDIFAST INC, $25.98, -10.41 pct
The provider of weight-loss products and services trimmed its forecast for full-year profit and revenue and reported weaker-than-expected second-quarter sales as direct channel sales fell 12 percent.
** MEDIVATION INC, $81.79, +8.66 pct
The drugmaker raised its full-year U.S. sales forecast for its prostate cancer drug, Xtandi, due to strong demand. At least four brokerages raised their price targets on the stock.
** HIBBETT SPORTS INC, $45.74, -8.65 pct
The sports goods retailer cut its full-year profit forecast to $2.63-$2.73 per share from $2.78-$2.98. Suntrust Robinson Humphrey cut its price target on the stock to $60 from $70, while Canaccord Genuity cut it to $47 from $50.
** LULULEMON ATHLETICA INC, $40.2, +3.00 pct
The athletic wear retailer's founder Chip Wilson will sell half of his 27 percent stake in the company to PE firm Advent International for $845 million. The sale is part of the deal in which Wilson agreed not to wage a proxy contest until after the annual shareholder meeting in 2016.
** GAP INC, $42.56, +5.87 pct
The apparel retailer estimated second-quarter adjusted earnings between 68 cents and 69 cents per share. Analysts on average expected a profit of 66 cents per share.
** ARISTA NETWORKS INC, $74.17, +2.70 pct
The network switch maker reported a better-than-expected adjusted profit in the second quarter and forecast third quarter revenue of $142-$150 million, above the average estimate of $134 million.
** CAPSTONE TURBINE CORP, $1.2, -15.49 pct
The micro turbine marker reported a bigger-than-expected quarterly loss on Thursday, hurt by delays in shipping and installing equipment.
** POST HOLDINGS INC, $36.84, -17.23 pct
The packaged food maker reported an adjusted loss of 30 cents per share for the third quarter, while analysts had expected a profit of 27 cents. The company also forecast a full-year profit before interest, taxes, depreciation and amortization of $260 million-$270 million, short of analysts' expectations of $390 million.
** SALIX PHARMACEUTICALS LTD, $126.74, -5.10 pct
The drug company forecast lower-than-expected third-quarter revenue. The company also reported second-quarter results that missed the average analyst estimate.
** RUBICON TECHNOLOGY INC, $5.685, -24.10 pct
The company, which makes sapphire-based components used in electronic devices, forecast a third-quarter adjusted loss of 39-44 cents per share on revenue of $8-$12 million. Analysts on average estimated a loss of 27 cents per share on revenue of $16.4 million.
** MERCADOLIBRE INC, $105.76, +14.41 pct
The Argentina-based online retailer reported better-than-expected adjusted profit and revenue for the second quarter. Gross merchandise volume rose 67 percent while total payments rose 77 percent on a constant currency basis.
** MINERVA NEUROSCIENCES INC, $6.4401, -8.00 pct
The drug developer reported a net loss of $19.4 million, or $2.55 per share in the second quarter, compared with loss of $400,000, or 10 cents per share, a year earlier.
** INSULET CORP, $35.03, -2.26 pct
The medical device maker cut its full-year revenue forecast, citing changes in a payer's general pump reimbursement policies that is delaying new patient starts.
** CBS CORP, $59.29, +4.20 pct
The TV network owner doubled its share buyback program to $6 billion and hiked its quarterly dividend to 15 cents per share from 12 cents. (Compiled by Anannya Pramanick in Bangalore; Editing by Simon Jennings)