March 13, 2013 / 2:34 PM / 5 years ago

MARKET PULSE-Spectrum Pharma, Valero Energy, Dole Food, Mellanox

March 13 (Reuters) - Some U.S. stocks on the move on Wednesday: (For more market insights, including options activity, click on ; for The Day Ahead newsletter; for the Morning News Call newsletter,


Wall Street started Wednesday little changed after enthusiasm over surprisingly strong retail sales was tempered somewhat by investors taking a pause after the recent rally. The Dow Jones industrial average edged up 4.03 points, or 0.03 percent, the Standard & Poor’s 500 Index added 0.29 points, or 0.02 percent, and the Nasdaq Composite Index was off 0.39 points, or 0.01 percent.

** SPECTRUM PHARMACEUTICALS, $7.85, down 37 pct (0946 ET)

The company forecast a steep drop in full-year sales as it expects uptake of its biggest-selling product, colon cancer drug Fusilev, to significantly decline as cheaper generics re-enter the market.

** VELTI PLC, $2.21, down 30 pct (0946 ET)

The mobile marketing company reported a fourth-quarter profit well below analysts’ expectations on Tuesday, and said it had decided to forego a “significant amount” of additional business in Greece, the Balkan and other regions. It also said it expected to cut its capital expenditure by more than half.

** EXPRESS INC, $17.03, down 10 pct (0945 ET)

The apparel and accessories retailer reported stronger-than-expected fourth-quarter results, but said it was off to a slow start in the current quarter.

** BG MEDICINE INC, $2.02, up 11 pct (0945 ET)

The diagnostic test maker reported a smaller-than-expected fourth-quarter loss, helped by higher revenue from Galectin-3 - its blood test for use in patients with chronic heart failure.

** MELLANOX TECHNOLOGIES, $61.62, down 6 pct (0944 ET)

A vice president and a director at the Israeli chip designer disclosed that they had sold shares of the company.

** DREAMWORKS ANIMATION SKG INC, $18.50, up 5 percent (1012 ET)

Stifel Nicolaus & Co raised the movie studio’s stock to a “hold” from a “sell”, saying the impact of a $87 million write-down due to the weak box office performance of its movie “Rise of the Guardians” has largely played out.

** VMWARE INC, $79.00, up 5 pct (0955 ET)

** EMC CORP, $24.73, up 1 pct (0955 ET)

The data storage equipment maker plans to create a new company called Pivotal that would be 69 percent owned by EMC and 31 percent owned by its publicly traded affiliate VMware, according to EMC Chief Executive Joe Tucci.

** GAIN CAPITAL HOLDINGS INC, $4.13, down 5 pct (1005 ET)

The company, which provides online foreign exchange trading services, reported a wider quarterly loss as revenue in its retail over-the-counter (OTC) business fell.

** VALERO ENERGY CORP, $43.31, down 5 pct (1012 ET)

The refiner was downgraded by Macquarie analysts to a “neutral” rating from an “outperform” rating, according to

** FLAGSTAR BANCORP, $14.35, down 4 pct (0954 ET)

Compass Point started the Midwestern lender will a ‘sell’ rating, reported.

** NETFLIX INC, $189.07, up 4 pct (1000 ET)

The video service unveiled a new feature on Wednesday that allows subscribers to let their Facebook Inc friends know what television shows and movies they are watching and also see friends’ viewing activity.

** ICICI BANK LTD , $42.95, down 3 pct (1010 ET)

Interest rate-sensitive stocks such as ICICI Bank retreated a day before key inflation data that could help determine whether the central bank would ease monetary policy.

** FORTRESS INVESTMENT GROUP $6.89, up 3 pct (1003 ET)

Goldman Sachs raised the alternative asset manager to a ‘buy’ rating, reported.

** ASM INTERNATIONAL NV, $34.95, down 13 pct (0943 ET)

The Dutch semiconductor equipment maker is selling a smaller-than-expected stake in its Hong Kong-listed unit, disappointing investors who had hoped a break-up of the firm might create more value for shareholders.


The defense contractor forecast 2013 revenue below analysts’ expectations, citing uncertainty due to U.S. budget cuts.

** NATIONAL FINANCIAL PARTNERS, $22.87, up 14 pct (0941 ET)

The New York-based wealth management company headed by Sandy Weill’s daughter Jessica Bibliowicz is exploring a potential sale, according to three people familiar with the matter.

** DOLE FOOD CO INC, $11.15, down 5 pct (0939 ET)

The fruit and fresh vegetable distributor reported fourth-quarter results that missed market estimates due to challenging banana market conditions and one-time charges.

** EAGLE ROCK ENERGY PARTNERS LP, $9.31, down 3 pct (0939 ET)

The company, which transports natural gas and associated liquids, said it would sell 8 million common units and use the proceeds to repay a portion of its debt.

** GENMARK DIAGNOSTICS INC, $11.72, up 6 pct (0939 ET)

The company reported a smaller-than-expected fourth-quarter loss, helped by higher sales of its molecular diagnostic tests. (Compiled by Pallavi Ail in Bangalore; Editing by Sreejiraj Eluvangal)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below