May 15, 2013 / 3:28 PM / in 5 years

MARKET PULSE-Cal Dive, solar stocks, Comstock, Deere, Zynga, First Majestic

(For more market insights, including options activity, click on STXNEWS/US; for The Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter link.reuters.com/saf28t)

May 15 (Reuters) - Some U.S. stocks on the move on Wednesday:

WALL STREET HOLDS FLAT AFTER DATA; DEERE WEIGHS

U.S. stocks slipped as both the Dow and S&P 500 held near their most recent record highs after a flurry of economic data did little to upset investor expectations for central bank policies. The Dow Jones industrial average was down 0.09 percent, the Standard & Poor’s 500 Index down 0.10 percent and the Nasdaq Composite Index down 0.05 percent.

Industrial shares declined, weighed down by a 4.2 percent drop in Deere & Co to $89.77.

** DEERE & CO, $88.67, down 5.44 pct (1107 ET)

The world’s largest farm equipment maker reported higher-than-expected quarterly results on Wednesday and forecast a record profit for the full year, but it said it was cautious because of weakness in the construction market.

** ZYNGA INC, $3.57, up 7 pct (1102 ET)

Zynga shares jumped in morning trading shortly after hedge fund manager Barry Rosenstein said his Jana Partners had taken a new stake in the online games developer earlier this year.

** MACY‘S INC, $47.95, up 1.1 pct (1009 ET)

Macy’s reported higher first-quarter profit and sales despite weak demand from some of its customers, and the department store operator raised its quarterly dividend 25 percent.

** SOLARCITY CORP, $34.31, up 9 pct (0955 ET)

** RENESOLA LTD, $2.31, up 8 pct (0955 ET)

** MEMC ELECTRONIC MATERIALS INC, $6.02, up 2.2 pct (0955 ET)

** GT ADVANCED TECHNOLOGIES INC, $4.01, up 1.5 pct (0955 ET)

** JA SOLAR HOLDINGS CO LTD, $5.56, up 4 pct (0955 ET)

** YINGLI GREEN ENERGY HOLDING CO LTD, $2.46, up 4.2 pct (0955 ET)

** JINKOSOLAR HOLDING CO LTD, $7.28, up 5.2 pct (0955 ET)

Module pricing increased 3.14 percent over the last week, while polysilicon prices dropped 1.21 percent, Pacific Crest Securities analyst Ben Schuman said in a note to clients, citing data from PVinsights.

Average selling prices are up 7.6 percent in the second quarter, he said.

“This is a substantial ASP improvement, which along with falling polysilicon prices will help gross margins through the second half of 2013,” Schuman wrote.

** CAL DIVE INTERNATIONAL INC, $2.15, up 30 pct (1011 ET)

The oil field services provider said it was awarded two offshore construction contracts worth $188 million by Pemex Exploración y Producción. As per the contract, Cal Dive will procure, install and commission subsea pipelines for existing platforms.

** SUNPOWER CORP, $20.93, up 10 pct (0933 ET)

The company, which makes solar panels and builds solar power plants, said it expects to post an adjusted profit for the current quarter, boosted by strong margins.

** COMSTOCK HOLDING COS INC, $3.23, up 29 pct (0935 ET)

The homebuilding and real estate development company late on Tuesday reported a 256 percent jump in first-quarter revenue and raised its sales forecast for 2013, buoyed by a recovering U.S. housing market.

** EXONE CO, $41.69, down 14 pct (0936 ET)

The 3-D printer maker, which went public in February, reported a bigger-than-expected first-quarter loss because of higher operating expenses. Revenue also fell short of analysts’ average estimate as customers in regions such as Europe delayed orders.

The company forecast full-year revenue of $48 million to $52 million that fell short of analysts’ average estimate of $53.25 million, according to Thomson Reuters I/B/E/S.

** CLEANTECH SOLUTIONS INTERNATIONAL INC, $4.15, up 16.5 pct (1000 ET)

The company, which makes metal components for the clean energy industry, reported a more than five-fold jump in first-quarter profit, helped by strong sales in its dyeing machinery manufacturing business.

** CHINA AUTO LOGISTICS INC, $3.19, down 11 pct (1026 ET)

The company, which sells imported luxury automobiles in China, reported a lower quarterly profit as price cutting led to narrow margins.

** FIRST MAJESTIC SILVER CORP, $10.41 down 7 pct (1050 ET)

The Canadian company cut its 2013 capital expenditure estimate by 16 percent due to a drop in silver prices and said it could make further cuts later in the year.

** INSMED INC, $9.92, up 9 pct (0958 ET)

Lazard Capital Markets analyst Joshua Schimmer initiated coverage on the drug developer with a “buy” rating and a $21 price target, saying the company’s lead drug Arikace could be the first approved treatment for non-tuberculous mycobacteria lung (NTM) infections.

Schimmer also said that Arikace could be competitive in the market for inhaled antibiotics to treat cystic fibrosis (CF) due to its less-frequent dosing schedule and sustained efficacy compared to competitors.

“We expect U.S. commercialization of Arikace to begin in 2015 for the NTM indication and in 2017 for the CF indication,” he wrote in a note to clients.

** INTERNET INITIATIVE JAPAN INC, $18.55, down 9 pct (1008 ET)

The Japanese telecom company reported full-year revenue slightly below analysts’ estimates, according to Thomson Reuters I/B/E/S, as network services revenue increased a lackluster 3 percent.

** ROCKWELL MEDICAL INC, $3.31, down 8 pct (0938 ET)

The company, which develops drugs to treat kidney diseases, on Wednesday priced a public offering of about 11.5 million shares of its common stock at $3.05 per share.

The company, which expects to raise $35 million through the offering, will use the proceeds for general corporate purposes and to fund clinical trials for its iron compound, soluble ferric pyrophosphate, which is intended to replace iron lost during dialysis treatment in patients with kidney disease.

Almost 3 million shares changed hands by 1020 ET, nearly 10 times the stock’s 10-day average trading volume.

** COMPUTER SCIENCES CORP, $46.65, down 5.7 pct (1039 ET)

The technology services provider reported lower-than-expected fourth-quarter revenue and forecast full-year earnings below analysts’ expectations.

** NEPTUNE TECHNOLOGIES & BIORESSOURCES INC, $3.10, up 5 pct (0945 ET)

Neptune said a class action lawsuit against the Canadian company and certain of its officers by law firm Robbins Geller Rudman & Dowd LLP was voluntarily dismissed by the plaintiffs, without prejudice.

The nutritional supplements maker said no payment was made by any of the defendants in connection with the dismissal.

The suit was filed in the United States in December. It was alleged that the company issued "materially false and misleading statements" about its operational status and financial projections between Dec. 12, 2011 and Nov. 8, 2012. (link.reuters.com/cag28t)

** ARCTIC CAT INC, $47.00, down 4 pct (1004 ET)

The recreational vehicle maker reported higher fourth-quarter revenue on improved sales of its all-terrain vehicles, but the result still fell well short of market expectations.

The company, which gets the majority of its income from snowmobile sales, also forecast a weak full-year profit.

** RENREN INC, $2.9, down 3 pct (1008 ET) Brokerage Oppenheimer & Co downgraded the Chinese social networking site to “perform” from “outperform”, according to Theflyonthewall.com.

** APOLLO INVESTMENT CORP, $8.60, down 3 pct (1030 ET)

The business development company priced its public offering of 19 million shares at a 3 percent discount to its Tuesday close. Apollo priced the offering at $8.60 per share, while shares closed at $8.87.

About 10 million shares, or six times the stock’s 10-day average volume, had been traded by 1030 ET.

** SUNTECH POWER HOLDINGS CO LTD, $0.64, up 9.6 pct (1113 ET)

The China-based solar panel maker, whose main unit is in insolvency proceedings, said it reached an agreement with some lenders to further defer its obligations on a $541 million loan.

** VIVUS INC, $13.29, down 2 pct (0940 ET)

The drugmaker, known for its diet pill Qsymia, said it would offer $200 million of convertible senior unsecured notes in a private placement.

** AEROPOSTALE INC, $16.38, up 6.5 pct (0941 ET)

Brokerage BMO Capital Markets raised its rating on the teen clothing retailer to “outperform” from “market perform,” according to Theflyonthewall.com.

** APPLE INC, $437.77, down 1 pct (0945 ET)

The iPhone maker responded to Justice Department accusations it conspired with publishers to push up electronic book prices, saying it negotiated with a number of publishing companies separately and crafted different agreements with each.

** GOOGLE INC, $898.78, up 1 pct (0932 ET)

The world’s No. 1 search engine has signed licensing deals with Universal Music Group and Sony Music Entertainment to launch a subscription music service that would compete with fast-growing start-up Spotify, according to a report on Tuesday in technology blog The Verge.

** TENET HEALTHCARE CORP, $47.10, down 4 pct (0957 ET)

The hospital operator said it would offer $1.05 billion of senior secured notes that mature in 2021 through a private placement.

The proceeds will be used to purchase Tenet’s 8.875 percent senior secured notes due 2019 in a tender offer, the company said.

** LOCKHEED MARTIN CORP, $101.53, down 1.3 pct (0952 ET)

The Pentagon’s plans to put most of its 800,000 civilian employees on unpaid leave for 11 days could lead to delays on Lockheed Martin’s F-35 Joint Strike Fighter and other weapons programs, a top company official said on Tuesday.

** AGILENT TECHNOLOGIES INC, $45.09, up 2.54 pct (0953 ET)

The medical device maker said late on Tuesday it would cut about 450 jobs, or 2 percent of its global workforce, and doubled its stock repurchase program to $1 billion. Agilent also reported earnings of 77 cents per share, excluding items, for the second quarter. Analysts on average had expected earnings of 67 cents per share, according to Thomson Reuters I/B/E/S.

** COUER D‘ALENE MINES CORP, $13.62, dowm 3 pct (1048 ET)

** ENDEAVOUR SILVER CORP, $4.09, down 8 pct (1045 ET)

** BARRICK GOLD CORP, $20.02, down 2 pct (1051 et)

Gold fell for the fifth straight session, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone economic growth data. Silver prices dropped 1.6 percent to $22.98 an ounce on Wednesday. (Compiled by Sruthi Ramakrishnan in Bangalore; Editing by Maju Samuel)

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