May 28, 2013 / 8:10 PM / in 5 years

MARKET PULSE-Omthera, Auto stocks, Valeant, CapLease, Tesla, Enernoc

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May 28 (Reuters) - Some U.S. stocks on the move on Tuesday:


U.S. stocks rallied following their first three-day losing streak of the year, after central banks reassured investors that they will keep policies designed to foster global growth.

The Dow Jones industrial average was up 0.60 percent. The Standard & Poor’s 500 Index was up 0.47 percent, and the Nasdaq Composite Index up 0.62 percent.

** OMTHERA PHARMACEUTICALS, $13.68, up 102.06 pct (1342 ET)

AstraZeneca will buy Omthera for as much as $443 million to build up its cardiovascular drug business, a priority area for Britain’s second-biggest drugmaker. AstraZeneca said on Tuesday it would buy Omthera for $12.70 per share.

** GENVEC INC, $0.47, down 34 pct (1606 ET)

The company approved a liquidation plan after years of setbacks in the costly development of its gene therapy drugs.

** CAPLEASE INC, $8.60, up 21 pct, (1342 ET)


American Realty said it would buy CapLease for about $2.2 billion, including debt, as the real estate investment trust looks to expand its single-tenant commercial properties.

** CANADIAN SOLAR INC, $9.95, up 15.5 pct (1343 ET)

** JA SOLAR HOLDINGS CO LTD, $8.14, up 1.4 pct (1344 ET)

Canadian Solar reported a smaller-than-expected quarterly loss and said it was ramping up exposure to high-margin Japan as it reduces dependence on China, where intense competition has driven down panel prices.

** ENERNOC INC, $14.58, down 18 pct (1345 ET)

Credit Suisse analysts downgraded the energy monitoring and efficiency services provider’s stock to “neutral” from “outperform,” according to


Valeant said on Monday it agreed to buy Bausch & Lomb Holdings Inc from Warburg Pincus LLC for $8.7 billion, a cash deal set to vault the Canadian company into the upper ranks of the global pharmaceutical sector.

Canaccord Genuity raised its price target on the company’s stock to $112 from $82.

** GENERAL MOTORS CO, $33.87, up 3 pct (1208 ET)

** FORD MOTOR CO, $15.25, up 3.11 pct (1208 ET)

** ASBURY AUTOMOTIVE GROUP INC, $42.64, up 4 pct (1209 ET)

** AUTONATION INC, $47.78, up 3 pct (1209 ET)

** AMERICAN AXLE, $17.45, up 4 pct (1209 ET)

** BORGWARNER INC, $83.26, up 2 pct (1210 ET)

** DANA HOLDING CORP, $19.19, up 3.45 pct (1210 ET)

** DELPHI AUTOMOTIVE PLC, $49.71, up 3 pct (1211 ET)

** GROUP 1 AUTOMOTIVE INC, $65.30, up 3.5 pct (1211 ET)

** CARMAX INC, $47.45, up 2 pct (1211 ET)

** LITHIA MOTORS INC, $53.65, up 2 pct (1212 ET)

** PENSKE AUTOMOTIVE GROUP INC, $33.14, up 3 pct (1213 ET)

** SONIC AUTOMOTIVE INC, $24.03, up 3 pct (1213 ET)

** STANDARD MOTOR PRODUCTS INC, $33.53, up 2 pct (1214 ET)

** TENNECO INC, $44.11, up 2 pct (1214 ET)

** TRW AUTOMOTIVE HOLDINGS CORP, $62.98, up 2 pct (1215 ET)

** COOPER TIRE & RUBBER CO, $25.77, up 2 pct (1215 ET)

** JOHNSON CONTROLS INC, $38.13, up 3 pct (1215 ET)

** GOODYEAR TIRE & RUBBER CO, $14.82, up 2 pct (1216 ET)

** FEDERAL-MOGUL CORP, $10.36, up 10 pct (1216 ET)

BofA Merrill Lynch raised its price targets on several U.S. auto companies, including General Motors and Ford Motor, saying it expects growth in the auto industry to be a material economic multiplier in the form of job creation and loan formation.

“After a near disastrous fate in 2009, it is arguable that the US auto industry is now helping lead the US economic recovery, and there is still much more room to go,” analysts led by John Murphy wrote in a client note.

** SINOVAC BIOTECH LTD, $3.86, up 16.6 pct (1346 ET)

The China-based biopharmaceutical company posted a narrower net loss for the first quarter after revenue jumped 68 percent due to higher sales of its vaccine Healive.

** MAKO SURGICAL CORP, $12.54, up 12 pct (1347 ET)

Wells Fargo analysts raised their rating on the medical device maker’s stock to “outperform” from “market perform”, saying that the company’s new hip software for its robotic arm technology is expected to boost its use in hip replacement procedures.

“We believe an increase in hip procedures could drive interest (in) Mako’s technology from the larger orthopedic players and ease some competitive concerns that have been weighing on its stock,” the analysts wrote in a note to clients.

** HEALTH MANAGEMENT ASSOCIATES INC, $11.62, up 5 pct (1505 ET)

Glenview Capital Management reported a 14.6 percent stake in the company, signaling that the stock is undervalued. “Glenview has been known to be a savvy investor in the hospital space,” said Jefferies analyst Brian Tanquilut. “It puts the spotlight on HMA as a good value pick right now.”

** MATTSON TECHNOLOGY INC, $2.07, up 8 pct (1347 ET)

Brokerage Needham upgraded the chipmaker to “buy” from “hold”, saying memory orders, particularly from Samsung Electronics Co Ltd, will continue to strengthen in the second quarter and into the second half of 2013.

** BG MEDICINE INC, $1.97, up 14.5 pct (1347 ET)

The company said data from a study suggested its approved heart disease test may help to identify patients with a fast-growing type of heart failure at risk of near-term adverse events. The company presented the data at a conference in Portugal.

** PRETIUM RESOURCES INC, $7.67, up 7 pct (1348 ET)

The Canadian miner struck gold for the first time at its Valley of Kings mine in British Columbia. The company said the drilling backed its indicated resources estimates of 8.5 million ounces.

The company’s Toronto-listed shares rose about 3 percent to C$7.99.

** TESLA MOTORS $104.42, up 7.5 percent (1348 ET)

The company’s Chief Executive Elon Musk will speak at the All Things Digital conference on Wednesday, where investors expect an announcement on Tesla’s plan to expand its supercharger network.

The stock of the Model S electric cars maker has risen 74 percent since May 8 after it announced its first-ever quarterly profit in 10 years.

Also, Germany’s Chancellor Angela Merkel on Monday reaffirmed her target to bring one million electric cars on to German roads by the end of the decade.

** AMERICAN SUPERCONDUCTOR CORP $2.85, up 6 percent (1348 ET)

The company, which mainly supplies electrical systems used in wind turbines, said on Friday its lawsuit against Sinovel Wind Group Co will come up for hearing at the China’s Supreme People’s Court on Wednesday. The court will review software copyright infringement cases against Sinovel and Guotong Electric.

AMSC said it is seeking a cease and desist order and damages worth $6 million.

** NEW YORK & COMPANY INC, $5.69, up 7.4 pct (1349 ET)

Analysts at Janney Capital Markets raised their fair value on the women’s apparel retailer to $6 from $4, saying the company’s focus on consistently improved product and new marketing strategies are working.

“We further expect the collaborative collection with Eva Mendes to be another positive catalyst for fall 2013,” analysts at Janney said. They retained their “neutral” rating on the stock.

** SIGA TECHNOLOGIES INC, $3.76, up 3 pct (1349 ET)

The Delaware Supreme Court reversed an order against the company on Friday. The court ruled that rival PharmAthene may only obtain damages from Siga for alleged breach of a contract related to its smallpox drug. The court had earlier asked Siga to pay PharmAthene half of its net profit from the drug after retaining the first $40 million.

** AIXTRON SE, $17.42, up 8 pct (1350 ET)

Brokerage Natixis Equity Research upgraded the German chip-equipment maker to “buy” from “neutral”, and raised its price target on Aixtron’s Germany-listed stock to 16 euros from 10 euros.

** TIFFANY & CO, $79.23, up 4 pct (1350 ET)

The company reported higher-than-expected sales for the first quarter that included Valentine’s Day, helped by gains in all regions and promotions around the jeweler’s 175th anniversary and ”The Great Gatsby’ movie tie-in.

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** BEAZER HOMES USA INC, $21.82, up 2.2 pct (1350 ET)

U.S. single-family home prices rose in March, racking up their best annual gain in nearly seven years in a further sign that the strengthening housing recovery is providing a source of support for the economy, a survey showed on Tuesday.

** FIRST SOLAR INC, $50.93, up 1.2 pct (1351 ET)

** MEMC ELECTRONIC MATERIALS INC, $7.59, up 2 pct (1351 ET)

** YINGLI GREEN ENERGY, $3.40, up 6.5 pct (1353 ET)

** TRINA SOLAR LTD, $6.69, up 8.4 pct (1354 ET)

The European Union’s trade chief said he would not give in to Chinese demands to drop plans for punitive duties on solar panel imports, calling pressure from Beijing “a waste of time”, boosting shares of U.S. solar companies.

** FIRSTENERGY CORP, $39.39, down 7.5 pct (1354 ET)

The company’s 885-megawatt Unit 2 at the Beaver Valley nuclear power plant in Pennsylvania was shut on Tuesday from full power early Friday.

Analysts at Credit Suisse cut the company’s stock to “neutral” from “outperform”, citing a downside for integrated power companies as the recovery of the market will force investors to reconsider what they paid for power generation assets.

** CVR ENERGY INC, $71.10, up 4.7 pct (1355 ET)

The oil refiner declared a special dividend of $6.50 per share. The special dividend payment will amount to $564 million, bringing the company’s total dividends declared in 2013 to $1.1 billion, CVR said.

** EXELON CORP, $32.05, down 7.5 pct (1355 ET)

Analysts at Deutsche Bank downgraded the energy producer’s rating to “hold” from “buy” and cut their price target on the stock to $34 from $38, after an auction by PJM Interconnection LLC, which runs the largest U.S. power grid, showed that payments to power-plant owners will decline.

** AMARIN CORP PLC, $6.28, down 7.3 pct (1355 ET)

The biopharmaceutical company shares slid after Britain’s second-biggest drugmaker AstraZeneca, which at one stage was tipped as a possible buyer of the company, said it would buy Omthera.

** DOLE FOOD COMPANY INC, $10.34, down 6.5 pct (1336 ET)

The company indefinitely suspended its share repurchase program, less than a month after announcing it, and said it would instead buy three new specialty built refrigerated container ships for $165 million.

** ROYALE ENERGY INC, $3.24, up 4 pct (1336 ET)

The oil and gas producer signed a deal with Rampart Energy Ltd for development of a portion of Royale’s Alaska North Slope assets. Rampart will earn up to 75 percent working interest in Royale’s western and central acreage assets once the work is completed.

** RADIAN GROUP INC, $13.55, up 3.35 pct (1221 ET)

The mortgage insurer stock surged on data that U.S. single-family home prices rose in March, racking up their best annual gain in nearly seven years.

** STARZ, $23.47, up 3.11 pct (1221 ET)

Warren Buffett's Berkshire Hathaway Inc reported a 5.03 percent passive holding in the U.S. pay-TV network as of May 24, according to a regulatory filing.(

** ASIA ENTERTAINMENT & RESOURCES LTD, $4.15, down 5 pct (1222 ET)

The holding company, whose units promote gaming rooms in casinos at major hotels in Macau, plans to offer subscription rights to purchase about $63 million of its ordinary shares to each shareholder.

** HERTZ GLOBAL HOLDINGS INC, $26.16, up 4 pct (1222 ET)

The No.2 U.S. car rental company is poised for a long run of earnings and revenue growth and the stock could be worth 70 percent more in two years, the Barron’s financial news weekly said in its May 27 edition.

** FIDELITY NATIONAL FINANCIAL INC, $26.78, up 2.2 pct (1222 ET)

** LENDER PROCESSING SERVICES INC, $33.79, up 2.7 pct (1223 ET)

Title insurer Fidelity said it will buy Lender Processing for about $2.9 billion in cash and stock to grow its mortgage servicing business.

FNF said the offer, which works out to $33.25 per LPS share, represents a premium of 19 percent to the average 30-day closing price of LPS shares. LPS shares closed at $32.99 on Friday.

** TECO ENERGY INC, $17.75, down 3 pct (1223 ET)

Teco said it would acquire New Mexico Gas Co for about $950 million, including debt, to widen its customer base in Florida and New Mexico. (Compiled by Neha Alawadhi; Editing by Sriraj Kalluvila)

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