March 11, 2013 / 3:08 PM / 5 years ago

MARKET PULSE-Elecsys, Dick's Sporting, Blucora, Hanmi, Cardiovascular Systems

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,


Wall Street edged lower on Monday as investors paused after Italy’s credit downgrade and disappointing Chinese economic data after last week’s rally that took the Dow to record highs.

The Dow Jones industrial average was down 6.57 points, or 0.05 percent. The Standard & Poor’s 500 Index was down 1.62 points, or 0.10 percent. The Nasdaq Composite Index was down 4.94 points, or 0.15 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.

** BLUCORA INC, $15.66, down 5 pct (1019 ET)

The online search service provider said it intends to offer $150 million aggregate principal amount of convertible senior notes due 2019.

The company said it intends to use the net proceeds of the offering for working capital and general corporate purposes, including acquisitions.

** ELECSYS CORP, $5.42, up 35 pct (1016 ET)

The communications equipment maker reported a 43 percent jump in third-quarter sales and said it expects its wireless remote monitoring solutions and industrial data communications products to generate increased sales over the next few quarters.

** HANMI FINANCIAL CORP, $15.90, down 6 pct (1010 ET)

The second largest Korean-American bank’s talks with rivals about a possible sale have stalled because of disagreements over price and management, Bloomberg reported.

** CARDIOVASCULAR SYSTEMS INC, $18.32, up 11 pct (1032 ET)

Leerink Swann analyst Danielle Antalffy raised her price target on the medical device maker’s stock, citing positive data from a study of its device to treat calcified coronary arteries. She said the data could be sufficient to get approval from U.S. health regulators.

Antalffy said the use of the device could expand the company’s addressable market opportunity by another $1.3 billion.


Piper Jaffray analyst Charles Duncan raised his rating on the stock to “overweight” from “neutral”, saying the company’s drug Bunavail to treat opioid dependence could be superior to an approved drug Suboxone, based on data.

Duncan said late-stage studies of the company’s drug could prove positive based on revised trial designs. The drug, BEMA Buprenorphine, had failed late-stage studies in September 2011.

** TRONOX LTD, $20.93 down 4 pct (1033 ET)

Analysts at BWS Financial Inc downgraded the company’s stock to “hold” from “buy” on rumors that the manufacturer of titanium dioxide -- a pigment used in paint, coatings, plastics and paper -- was looking to do a large acquisition.

“Tronox has decided to take the roll of being a consolidator in the TiO2 industry ... Without TiO2 prices roaring back TROX would end up with a levered balance sheet,” analyst Hamed Khorsand said.

** AMPIO PHARMACEUTICALS INC $4.13, up 3.5 pct (1024 ET)

The company said the U.S health regulator accepted its modified version of a questionnaire that measures treatment efficacy for premature ejaculation.

Ampio said the acceptance by the FDA allows it to file an investigatinal new drug application in the United States for a pivotal trial of the sexual dysfunction drug Zertane.

** 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 10 pct (1027 ET)

** TRINA SOLAR,, $4.10, down 3 pct (1026 ET)

** RENESOLA LTD, $2.22, down 5 pct (1026 ET)

** YINGLI GREEN,, $2.39, down 5 pct (1026 ET)

** ENPHASE ENERGY INC, $5, down 5 pct (1026 ET)

Canadian Solar 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.

Other solar stocks too were down on the news.

** MITSUBISHI UFJ FINANCIAL GROUP INC, $5.90, up 4 pct (1034 ET)


** MIZUHO FINANCIAL GROUP INC, $4.50, up 4 pct (1043 ET)

** NOMURA HOLDINGS INC, $6.10, up 3 pct (1044 ET)

Japanese financial stocks rose as a softer yen and the Japanese government’s reflationary policies are expected to stimulate demand for loans.

** 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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