March 11, 2013 / 4:18 PM / 5 years ago

MARKET PULSE-BlackBerry, Dick's Sporting, Blucora, Hanmi, James River Coal

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 was little changed on Monday as Italy’s credit downgrade and disappointing Chinese economic data gave investors a reason to pause after last week’s rally that took the Dow to record highs.

The Dow Jones industrial average edged down 1.95 points, or 0.01 percent. The Standard & Poor’s 500 Index slipped 1.89 points, or 0.12 percent. The Nasdaq Composite Index was off 9.56 points, or 0.29 percent.

** DICK‘S SPORTING GOODS INC, $46.20, down 9 pct (1141 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.

** BLACKBERRY , $14.63, up 10 pct (1136 ET)

AT&T Inc will start selling the highly anticipated BlackBerry Z10 touchscreen smartphone in the United States on March 22.

The U.S. launch of the new devices has been delayed due to a longer carrier-testing phase in the country. AT&T said pre-sales of the devices will begin on Tuesday, March 12.


Roustam Tariko, the chairman of the Polish vodka maker, struck a deal with bondholders in which the Russian billionaire will pay $172 million in cash to pay down the company’s senior secured debt in exchange for an 85 percent stake in the company.

** JAMES RIVER COAL CORP, $2.58, down 7 pct (1142 ET)

Analysts at Moody’s said on Friday that operational restructuring would be necessary to maintain James River’s rating at CAA1, or seven levels below investment grade.

“Taking out three million tons of high-cost production enables James River to maintain its short- and long-term ratings,” said analyst Ben Nelson, adding that the company would need to quickly demonstrate that the program will limit cash burn to manageable levels in 2013.

** CIMATRON LTD , $8.34, up 2 pct (1141 ET)

The company, which provides software for the tooling industry, said it won a deal with a large Taiwan-based manufacturer involved in the computing, communication, and consumer electronics segments.

** RESOLUTE ENERGY CORP, 11.14, up 7 pct (1143 ET)

Analysts at Wunderlich Securities upgraded the oil producer’s stock to “buy” from “hold” after the company said it would acquire economically strong assets in the Permian Basin in Texas and New Mexico, which is expected to drive growth for the company.

“A significant incremental upside could come from Resolute going horizontal,” analysts said.

** MECHEL OAO, $5.40, down 4 pct (1155 ET)

Analysts at Renaissance Capital cut the price target of the Russian mining and steel company’s stock to $6.5 from $7.4 as they expect no strong rebound in the prices of coking coal as global demand for steel remains depressed.

“Mechel may come under pressure from negative macro and coking coal sector developments in 2013,” they said.

** BLUCORA INC, $15.62, down 5 pct (1143 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, $5.21, up 30 pct (1143 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, $15.81, down 5 pct (1144 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, $18.46, up 12 pct (1145 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, $21.10 down 3 pct (1143 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 $4.22, up 6 pct (1145 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, $9.18, up 14 pct (1135 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, $10.50, up 7 pct (1147 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, $3.34, down 10 pct (1148 ET)

** TRINA SOLAR,, $4.11, down 2 pct (1147 ET)

** RENESOLA LTD, $2.25, down 4 pct (1148 ET)

** YINGLI GREEN,, $2.44, down 3 pct (1149 ET)

** ENPHASE ENERGY INC, $5.02, down 4 pct (1145 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, $5.93, up 5 pct (1150 ET)


** MIZUHO FINANCIAL GROUP INC, $4.51, up 4 pct (1136 ET)

** NOMURA HOLDINGS INC, $6.12, up 3 pct (1151 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, $9.46, up 4 pct (1148 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 , $11.81, up 3 pct (1146 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, $32.23, up 2 pct (1148 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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