March 11, 2013 / 1:43 PM / 5 years ago

MARKET PULSE-Genworth, Dick's Sporting, Simcere Pharma

March 11 (Reuters) - Some U.S. stocks on the move on Monday: (For more market insights, including options activity, click on STXNEWS/US; for The Day Ahead newsletter; for the Morning News Call newsletter,


U.S. stocks opened slightly lower on Monday as Italy’s credit downgrade and disappointing data from China curbed investors’ enthusiasm. The Dow Jones industrial average edged down 12.94 points, or 0.09 percent, the Standard & Poor’s 500 Index slipped 2.25 points, or 0.15 percent, and the Nasdaq Composite Index was off 6.50 points, or 0.20 percent.

** DICK‘S SPORTING GOODS INC, $46.80, down 8 pct (0938 ET)

The sporting goods retailer forecast weak first-quarter profit after reporting lower-than-expected fourth-quarter results, hurt by the weak sales of its fitness equipment and cold weather accessories.

** SIMCERE PHARMACEUTICAL GROUP, $9.05, up 12 pct (0938 ET)

The China-based company received a buyout offer from a consortium led by Chairman Jinsheng Ren for $9.56 per American depositary share (ADS), valuing the company at about $500 million.

** GENWORTH FINANCIAL INC, $10.51, up 7 pct (0938 ET)

The mortgage insurer’s stock could almost double in the next year, boosted by gains in mortgage and health-care pricing, Barron’s said on Sunday.

** CANADIAN SOLAR INC, $3.59, down 4 pct (0937 ET)

The company reported its sixth straight quarterly loss, but forecast higher shipments for 2013 as it shifts focus to the more lucrative business of building solar power plants to offset slim margins from solar product sales. [ID:nL3N0C322W

** TETRA TECHNOLOGIES INC, $9.0830, up 2.5 pct (0936 ET)

Philip N. Longorio, a vice president at the oilfield services provider, bought 56,100 Tetra shares at $8.92, according to a regulatory filing.

Chief Financial Officer Elijio Serrano bought 11,000 shares at $9.09.

** ELAN CORP PLC , $11.86, up 4 pct (0935 ET)

The drugmaker is to bring forward a planned $1 billion share buyback to this week, the Irish company said in a statement on Friday, a move that could undermine a takeover offer by U.S. investment firm Royalty Pharma.

** THE MEDICINES CO, $33.10, up 4 pct (0934 ET)

The company’s experimental intravenous blood clot preventer Cangrelor, which is intended for use during angioplasty procedures, solidly outperformed commonly used Plavix in a pivotal late stage study, likely resurrecting the drug’s prospects. (Compiled by Pallavi Ail in Bangalore)

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