April 19 (Reuters) - Some U.S. stocks on the move on Friday:
Most U.S. stocks rose on Friday, bouncing back a day after the S&P 500 closed below its 50-day moving average for the first time in 2013, but IBM’s largest drop in eight years kept the Dow in slightly negative territory. The Dow Jones industrial average fell 16.28 points or 0.11 percent. But the S&P 500 gained 11.34 points or 0.74 percent and the Nasdaq Composite added 40.21 points or 1.27 percent.
** IBM CORP, $195.76, down 5.5 pct (0930 ET)
** HP Co, $19.53, down 3.4 pct (0931 ET)
** EMC Corp, $22.15, down 0.8 pct (0931 ET)
** LEXMARK INTERNATIONAL INC, $24.88, down 2.5 pct (1006 ET)
IBM reported a rare quarterly earnings miss as it struggled with the depreciation of the Japanese yen and a failure to close a number of major deals, especially in Europe and the United States. The technology services company blamed a poor performance by its sales force for some of the shortfall.
Three brokerages cut their price targets on IBM shares and warned its weak earnings suggested results would also be disappointing at other hardware technology companies such as EMC, Dell Inc and HP.
Lenovo Group said on Friday it was in preliminary talks regarding a potential acquisition, following a media report that IBM was negotiating the sale of its x86 server hardware business to the Chinese computer maker.
** BOEING CO, $86.85, up 0.8 pct (1111 ET)
The company said it would cut the production rate for the latest version of its 747 jumbo jet from 2 aircraft per month to 1.75 aircraft citing lower demand for large passenger and cargo planes but added that the change was not expected to have a significant financial impact.
** GENERAL ELECTRIC CO, $21.92, down 3.3 pct (1111 ET)
The world’s biggest maker of jet engines and electric turbines reported a first-quarter profit in line with Wall Street’s expectations on Friday, as the conglomerate sold more jet engines and shed its stake in NBC Universal.
** MCDONALD‘S CORP, $100.37, down 1.5 pct (1111 ET)
The fast-food chain reported a slight rise in first-quarter profit on Friday, but sales at established U.S. restaurants fell 1.2 percent in a tough environment.
** JOHNSON & JOHNSON, $84.00, up 0.8 pct (1110 ET)
** ELAN CORP, $11.78, down 0.9 pct (0933 ET)
U.S. healthcare firm Johnson & Johnson cut its stake in Elan on Thursday in a move that clouds prospects for a $7.3 billion takeover bid for the Irish drugmaker. U.S. investment firm Royalty Pharma on Monday made an improved $12 per share bid for Elan, which has rejected its suitor’s overtures and wants to remain an independent company.
** UBS AG $15.79, up 4 pct, (1110 ET)
Deutsche Bank raised the stock to “buy” and increased its price target to SFR18 from SFR16. The brokerage said it expects the Swiss bank to post a “solid operational result” in the first quarter.
** OVERSTOCK.COM INC, $18.74, up 19.3 pct (1110 ET)
The discount e-retailer reported a 19 percent jump in revenue on Thursday, helped by higher average order size. Gross profit in the quarter also improved due to a shift to higher margin home and garden products, and lower warehousing costs, in turn boosting profit.
BofA Merrill raised its rating on the stock to buy from neutral, according to Benzinga. (link.reuters.com/dej57t)
The company is turning the corner and will continue to benefit from better controlled operating expenses and new marketing and growth initiatives, analyst Nat Schindler wrote.
** HEALTHWAYS INC, $13.01, up 18 pct (1035 ET)
The healthcare service provider reported a smaller-than-expected quarterly loss helped by addition of new contracts in the first quarter.
Stifel, Nicolaus & Co raised the price target on Healthways’ stock to $19 from $13.
** INSIGHT ENTERPRISES INC NSIT.O, $16.31, down 12 pct (1249 ET)
The IT service provider estimated first-quarter adjusted profit well below analysts’ estimates on weak sales in North America and a drop in gross margin of about 190 basis points from the EMEA region.
** RESTORATION HARDWARE INC RH.N, $38.42, up 17 pct (1009 ET)
The upscale furniture retailer forecast for a strong current quarter after reporting fourth-quarter results that topped Wall Street’s expectations, helped by a 26 percent increase in same-store sales.
Brokerage Piper Jaffray raised its price target on the stock to $45 from $41, citing the results and outlook.
** SEAWORLD ENTERTAINMENT INC, $31.13, up 15.3 pct(1023 ET)
Shares of SeaWorld opened 13 percent higher at $30.56 in their market debut on Friday. SeaWorld priced the offering of 26 million shares at $27 per share on Thursday, at the top end of its expected price range of $24 to $27 per share, raising $702 million.
** ELECTRONICS FOR IMAGINING INC, $26.89, up 12 pct (1043 ET)
The commercial printer maker reported first-quarter results that beat analysts’ estimates on higher demand for its products.
** MAGNUM HUNTER RESOURCES CORP, $2.65, down 7 pct (1127 ET)
Analysts at Imperial Capital cut their price target on the oil and gas producer’s stock to $3 from $4.50 after it delayed its 10-K filing and dismissed its accountant PriceWaterhouseCoopers when it raised doubts over reliability on Magnum’s financial statements. Law offices of Howard G. Smith on Wednesday said it was investigating claims against Magnum Hunter for possible violations of federal securities laws.
** GENUINE PARTS CO, $73.40, down 2.5 pct (1250 ET)
The company, which receives almost half its revenue from distributing automobile parts, reported a quarterly profit below analysts’ estimates as sales fell at its electronic materials and industrial parts businesses.
** BRIGGS & STRATTON CORP, $21.14, down 4.5 pct (1123 ET)
The world’s largest producer of gasoline engines for outdoor power equipment cut its full-year earnings per share forecast to between $1.16 and $1.33 from between $1.25 and $1.55, after reporting a lower-than-expected quarterly profit on reduced demand for snow thrower products in the U.S. and Europe.
** HUB GROUP INC, $36.30, down 3.9 pct (1223 ET)
Brokerage Stephens Inc downgraded the freight management company’s stock to “equal weight” and cut price target to $40 from $44, citing muted intermodal volume growth outlook. Analyst Justin Long in a note to clients wrote “...Hub Group is stuck between a generally competitive intermodal pricing environment and more price-disciplined rail partners that are making volume growth more challenging.”
** CHIPMOS TECHNOLOGIES, $15.58, up 12 pct (1120 ET)
The company, which handles quality testing and packaging for chipmakers listed shares of its Taiwan subsidiary on the Taiwanese Gre Tai Securities Market. Shares, priced at T$15, or about 50 cents, opened up 40 percent. ($1 = 29.7950 Taiwan dollars)
** NOVADAQ TECHNOLOGIES INC, $11.66, up 14 pct (1245 ET)
Medical imaging device maker Novadaq Technologies Inc said the interim results of its Pillar II study showed that its Pinpoint real-time imaging device helped surgeons detect leaks during a colon resection surgery. The interim data showed that based on Pinpoint images, doctors made revisions to their operative plan in six patients and that the leak rate was zero percent.
** PREMIERE GLOBAL SERVICES INC, $10.44, down 1.1 pct (1115 ET)
The cloud-based software services provider cut its forecast for 2013 citing foreign currency exchange rate fluctuations. It now expects adjusted earnings from continuing operations of 80 cents to 84 cents on revenues from continuing operations of $520 million to $530 million.
It had previously forecast earnings from continuing operations of $0.81 to $0.85 on revenue of $525 million to $535 million.
** VERIFONE SYSTEMS INC, $18.96, down 4.6 pct (1127 ET)
Compass Point cut its rating on the credit card swipe machine maker’s stock to “neutral” from “buy,” saying “the lack of investor demand reflects lingering near-term concerns that warrant caution heading into the upcoming quarter.”
** ARCH COAL CORP, $4.75, down 3 pct (1312 ET)
** ALPHA NATURAL RESOURCES INC, $6.96, down 5 pct (1312 ET)
** PEABODY ENERGY, $19.02, down 7 pct (1312 ET)
** GOODRICH PETROLEUM CORP, $12.68, down 4 pct (1312 ET)
** BILL BARRETT CORP, $19.07, down 2 pct (1312 ET)
** REX ENERGY CORP, $15.10, down 2 pct (1312 ET)
** EXCO RESOURCES INC, $7.16, down 1 pct (1312 ET)
U.S. natural gas futures slipped slightly on Friday, pressured by profit-taking after three straight days of gains. Front-month gas futures on the New York Mercantile Exchange were down 1.7 cents at $4.384 per million British thermal units at 1230 ET after stalling at $4.42, just shy of Thursday’s 21-month high of $4.429.
** CELANESE CORP, $46.04, up 9 pct (1323 ET)
The chemical maker reported its first-quarter net profit on Thursday well above analysts’ expectations with a 95 percent increase in profit from its consumer specialties business due to strong demand and lower costs.
Deutsche Bank analysts raised their price target on the company’s stock to $60 from $55, citing its first quarter results. “If Celanese is able to deliver additional quarters of strong and predictable earnings, we believe Celanese P/E (price-earnings) multiple could expand by 2-3 points by year-end,” Analyst David Begleiter said in a note to investors.
** EL PASO ELECTRIC CO, $35.42, up 4.3 pct (1145 ET)
Jefferies & Co upgraded the utility’s stock to “buy” and raised its target price to $39, saying it expects higher return on equity from rate changes by the summer of 2016 and the commissioning of a power generation plant.
** RAMBUS INC, $6.07, down 10 pct (1019 ET)
The technology licensing company reported higher first-quarter results, from a year earlier, on Thursday bolstered by the royalty it received from the patent licensing agreement it signed with chipmaker LSI Corp.
** WIPRO LTD ,$8.01, down 5.5 pct (10003 ET)
India’s third-largest software services provider’s weaker-than-expected quarterly sales forecast highlighted a gap in performance among India’s four biggest IT exporters and a still shaky recovery in client demand. Wipro joined No. 2 player Infosys Ltd in delivering tepid revenue guidance, citing a delay in the closure of deals.
** TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD , $18.72, up 4 pct (1015 ET)
The world’s biggest contract chipmaker on Thursday forecast quarterly revenue to grow as much as 17 percent from the prior three months, anticipating strong mobile-related demand for chips made with its cutting-edge technology.
** SAP AG , $76, down 3 pct (1009 ET)
The business software maker’s Asian business stumbled at the start of 2013 when top sales managers left the company, giving rivals an edge just as customers were switching from hardware to cloud computing.
** TCF FINANCIAL CORP $13.93, down 2.3 pct (1055 ET)
The regional bank posted a lower-than-expected first-quarter profit hurt by higher costs.
** ORBITZ WORLDWIDE INC, $6.18, down 2.7 pct (1006 ET)
The online travel agency is not a “controlled company” as the Blackstone Group L.P. no longer owns more than 50 percent of the company’s common stock, it said in a filing with the United States Securities and Exchange Commission.
** MONDELEZ INTERNATIONAL INC, $30.72, up 2 pct (1017 ET)
** PEPSICO INC, $82.85, up 2 pct (1018 ET)
Activist investor Nelson Peltz purchased stakes in U.S. packaged food companies Mondelez and PepsiCo, worth a little more than $900 million, a regulatory filing on Friday showed.
** BIOSCRIP INC, $12.85, up 3.5 pct (1021 ET)
The company said it plans to raise about $106.5 million in net proceeds from a public offering of its common stock. The offering of 12.5 million common shares was priced at $12 per share, including 3.1 million common shares offered by certain selling stockholders.
** VERTEX PHARMACEUTICALS INC, $84.02, up 58.9 pct (0934 ET)
The company said its experimental drug improved lung function in adults with cystic fibrosis in a mid-stage trial. The company said on Thursday favorable results were seen in patients who took the drug, known as VX-661, in combination with its already approved treatment for cystic fibrosis, Kalydeco in a short 28-day study.
** INTERPUBLIC GROUP OF COMPANIES INC, $13.52, up 4.6 pct (0945 ET)
Interpublic, the second-biggest U.S. advertising and marketing group and home to advertising agencies McCann Erickson and Draftfcb, reported better-than-expected first-quarter revenue as growth returned to its domestic market after shrinking for three straight quarters.
** CLAYTON WILLIAMS ENERGY INC, $40.24, up 3 pct (0936 ET)
The oil and gas company said it would sell 95 percent of its Wolfberry assets in Andrews County, Texas for $214 million and use the proceeds to repay its outstanding debt.
The company would sell 5 percent of its Wolfberry assets to a newly formed limited partnership for 5 percent general partner interest, and the partnership would purchase the remaining 95 percent.
** MANPOWERGROUP, $54.84, up 6.1 pct (1028 ET)
The global staffing company quarterly profit handily beat analysts’ estimates despite falling revenue as margins stabilized on cost cuts.
** HONEYWELL INTERNATIONAL INC, $73.47, up 2.8 pct (1027 ET)
The diversified U.S. manufacturer reported a first-quarter profit above analysts’ expectations and raised the lower end of its full-year earnings forecast as margins improved in a slow-growth economy. Margin expansion was driven by raw material and general cost cuts, Chief Executive David Cote said on a post-earnings conference call.
** KANSAS CITY SOUTHERN, $105.69, up 2.2 pct (1115 ET)
The No. 4 U.S. railroad beat analysts’ expectations with a 39 percent rise in quarterly profit, as strong automotive and cross-border intermodal shipments offset drought-related decline in grain volumes.
** ISIS PHARMACEUTICALS INC, $20.09, up 3.5 pct (1115 ET)
BMO Capital Markets analyst Jim Birchenough raised his price target on the drugmaker to $31 from $22, saying the company’s drug platform was under-estimated and greater value should be attached to Isis’s late stage opportunities.
** DELL INC, $13.42, down 3.8 pct (0936 ET)
Blackstone Group LP has ended its pursuit of Dell, easing the way for founder Michael Dell and his private equity partner Silver Lake to go ahead with a $24.4 billion deal to acquire the world’s No. 3 PC maker. New York-based Blackstone pulled out just a month after it launched a challenge to the billionaire’s attempt to take Dell private.
** MICROSOFT CORP, $30.03, up 4.3 pct (0937 ET)
The world’s biggest software company reported an 18 percent climb in revenue and earnings well ahead of Wall Street expectations - a seemingly strong performance for a quarter with the worst decline in PC sales on record.
** GOOGLE INC, $785.25, up 2.5 pct (1019 ET)
The world’s No.1 Internet search engine’s share price should resume its upward march to about $900 from less than $800 now, analysts said on Friday, after the search giant’s strong quarterly profit reinforced its status as a technology sector favorite.
** KIMBERLY-CLARK CORP, $105.14, up 3.7 pct (0938 ET)
The maker of Kleenex tissues and Huggies diapers reported a higher quarterly profit and raised its earnings forecast for the year on Friday as it saw strong growth in its international markets and cut costs.
** ANGLOGOLD ASHANTI LTD, $18.50, up 3 pct (0938 ET)
** BARRICK GOLD CORP , $18.53, up 3.1 pct (0939 ET)
** FIRST MAJESTIC SILVER INC, $11.55, up 1 pct (0939 ET)
** KINROSS GOLD CORP, $5.45, up 3.2 pct (0939 ET)
** RANDGOLD RESOURCES LTD, $71.79, up 2.2 pct (0940 ET)
** NEWMONT MINING CORP, $33.25, up 1.5 pct (0940 ET)
Gold rebounded above $1,400 an ounce on Friday as strong buying of coins and bars continued, primarily in Asia, but prices were still on course for a fourth week of losses after a brutal sell-off. Gold rose 1.5 percent to $1,412.56 by 1032 GMT. The metal hit a two-year low of $1,321.35 on Tuesday and was still set for a weekly loss of 4.5 percent.
** AIR METHODS CORP, $39.43, down 14 pct (0941 ET)
The air medical transportation company said it expects to record a first quarter loss between 14 and 16 cents per share, citing a decrease in privately insured patients who sought air ambulance services. Air Methods said an increase in cancellations due to adverse weather conditions also hurt its quarterly results.
** ALIGN TECHNOLOGY INC, $31.72, down 5.3 pct (1117 ET)
The dental products maker reported a better-than-expected quarterly profit, but forecast second-quarter results below analysts’ estimates.
** CAPITAL ONE FINANCIAL CORP, $56.05, up 6.2 pct (1356 ET)
Capital One, one of the large U.S. credit card issuers, reported first-quarter profit which beat analysts’ expectations as net interest income jumped 34 percent, and the company said it would buy back shares after closing the sale of its credit card accounts linked to electronics retailer Best Buy Co Inc .
** PRGX GLOBAL INC, $5.36, down 14 pct (1357 ET)
The business analytics and information services provider estimated a first-quarter loss against analysts’ expectations of a profit on Thursday, as clients delayed large claims due to changes in Medicare processing systems.
** B&G FOODS INC, $29.97, up 6.6 pct (1358 ET)
The food and household goods manufacturer reported stronger-than-expected quarterly sales, helped by its New York Style and Old London acquisition in October last year. B&G reported first-quarter sales of $171.2 million, beating the average analyst estimate of $170.3 million, according to Thomson Reuters I/B/E/S.
** CHIPOTLE MEXICAN GRILL INC, $364.22, up 10.9 pct (1358 ET)
The popular burrito chain reported a big jump in quarterly profit on Thursday and said federal investigators have expanded their probe into the company’s compliance with U.S. immigration laws.
** RENTECH NITROGEN PARTNERS LP, $34.75, up 10.5 pct (1359 ET)
The nitrogen fertilizer producer said it completed offering of shares worth $320 million and would use the proceeds to raise cash for distribution to shareholders in 2014. The company would also use the proceeds to fund its expansion and maintenance projects.
** INTUITIVE SURGICAL INC, $470.19, down 4.7 pct (1359 ET)
The maker of surgical robots on Thursday narrowed its 2013 forecasts for growth of revenue and procedures using its da Vinci surgical robots rather than raising them as it often does when reporting quarterly results. (Compiled by Pallavi Ail in Bangalore,; Editing by Joyjeet Das)