May 29, 2013 / 4:13 PM / 4 years ago

MARKET PULSE-Smithfield Foods, Trina Solar, Stewart Enterprises

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May 29 (Reuters) - Some U.S. stocks on the move on Wednesday:


U.S. stocks fell more than 1 percent, retreating sharply from record levels scaled recently, on concerns the U.S. Federal Reserve may start to ease up on its economy-boosting stimulus program.

The Dow Jones industrial average was down 174.79 points, The Standard & Poor’s 500 Index was down 19.49 points and The Nasdaq Composite Index was down 36.40 points.

** SMITHFIELD FOODS INC, $32.48, up 25 pct (1116 ET)

China’s Shuanghui International said it would buy the largest U.S. hog producer for $4.7 billion in cash to help satisfy growing demand for U.S.-made pork in its home market, but the deal may raise concerns in the United States.

** STEWART ENTERPRISES INC, $13.05, up 34 pct (1117 ET)

** SERVICE CORP INTERNATIONAL, $18.89, up 7 pct (1118 ET)

** CARRIAGE SERVICES INC $19.20, up 7 pct (1118 ET)

Funeral home operator Service Corp has agreed to acquire peer Stewart Enterprises in a deal with an enterprise value of $1.4 billion, the companies said.

Shares of peer Carriage Services were also up on the news.

** FACEBOOK INC, $23.60, down 2 pct (1118 ET)

Facebook said its systems to remove hate speech haven’t worked as well as the company had hoped, amid reports that advertisers are pulling their brands off the social network in the face of a backlash from women’s groups.

** MRC GLOBAL INC, $28.82, down 13.2 pct (1106 ET)

The pipes, valves and fittings distributor forecast current-quarter revenue in the range of $1.25 billion to $1.35 billion, missing the average analyst expectation of $1.44 billion, according to Thomson Reuters I/B/E/S.

The company also forecast lower-than-expected revenue of $5.4 billion to $5.8 billion for the full year.

** BALLARD POWER SYSTEMS INC , $2.05, up 12.5 pct (1101 ET)

The company and Azure Hydrogen Corp have extended the scope of their partnership to include fuel-cell buses. Ballard has received an upfront payment of $1 million to provide technical support to develop fuel-cell bus capabilities in China.

** THE FRESH MARKET INC, $51.48, up 12 percent (1132 ET)

The grocery-store operator said it expects earnings in the second-half of the year to exceed that in the first half and same-store sales to increase between 2.5 percent to 4.5 percent for the full year.

** PERFECT WORLD CO LTD, $14.45, up 12 pct (1122 ET)

The Chinese online game developer reported a better-than-expected first-quarter profit due to lower operating expenses. The company posted a profit of $2.69 per American depositary share, compared with analysts’ estimates of $2.38 per ADS.

** TRINA SOLAR LTD, $5.95, down 12 pct (1121 ET)

The Chinese solar panel maker posted its seventh straight quarterly loss as a fall in panel prices more than offset cost reductions.

** PREMIER EXHIBITIONS INC, $2.05, down 12 percent (1140 ET)

The exhibitions operator reported a 12 percent drop in fourth-quarter revenue on Tuesday, saying some of its exhibitions in New York City that were closed after superstorm Sandy-related remained shut.

The company, which holds the salvage rights to RMS Titanic, said it was exploring strategic and financial alternatives for the sale of the artifacts recovered from the wreck of ocean liner, after failing to close a deal with an unnamed group of individuals.

** BROWN SHOE COMPANY INC, $20.65, up 11 pct (1120 ET)

The shoe retailer’s adjusted first-quarter profit beat analysts’ estimates as customers bought more of its Famous Footwear brand’s athletic and canvas styles. The company raised its full-year adjusted profit outlook to between $1.22 and $1.29 per share from between $1.18 to $1.25 per share.

** AEGERION PHARMACEUTICALS INC, $67.10, up 10 pct (1119 ET)

Canaccord Genuity analysts raised their price target on the company’s stock to $90 from $54, saying that physicians at lipid clinics surveyed by them had high awareness of the company’s cholesterol-lowering drug Juxtapid.

The analysts said the findings were consistent with their assumptions that patients would prefer to use Juxtapid over an injected drug Kynamro, marketed by Genzyme, a unit of Sanofi SA .

** KEY ENERGY SERVICES INC, $6.85, up 9.1 pct (1039 ET)

New York-based MHR Fund Management LLC, co-founded by hedge fund investor Mark Rachesky, reported an 11.5 percent holding in the oilfield services provider. ( )

** TOP IMAGE SYSTEMS LTD, $2.91, down 9 pct (1058 ET)

The company, which makes products for digital data recognition, reported a first-quarter loss, compared with a profit a year earlier, on lower sales outside of the United States.

** HECLA MINING CO, $3.66, up 7 pct (1119 ET)

The silver miner said on Tuesday it received government approval for acquisition of Canada’s Aurizon Mines Ltd.

** WET-SEAL INC, $4.83, up 7 pct (1122 ET)

The teen-apparel retailer forecast second-quarter sales above Wall Street estimates and said it expects comparable-store sales to increase in the mid-single digits.

** SONUS NETWORKS INC, $2.74, up 7 pct (1119 ET)

Analysts at Jefferies raised their rating on the voice and data communication equipment maker’s stock to “buy” from “hold,” saying they expect the company to continue to meet or exceed investor expectations in 2013 and 2014.

** CHICO‘S FAS INC, $17.96, down 7 pct (1120 ET)

The women’s apparel retailer posted weaker-than-expected fourth-quarter results, hurt by an unusually cool spring and increased promotions to clear out its merchandise.

** ASSOCIATED ESTATES REALTY CORP, $17.05, down 5 percent (1013 ET)

The REIT priced its offering of 6.5 million common stock at $17.25 per share on a forward basis, a discount of 4 percent to the stock’s Tuesday closing price.

** INLAND REAL ESTATE CORP, $10.58, down 5 percent (1034 ET)

The REIT priced its offering of 9 million common stock at $10.60 per share, 5 percent below the stock’s Tuesday closing price.

** SALLIE MAE CORP, $23.99, up 4.41 pct (1206 ET)

The student loan provider said it would split the company into two publicly traded entities and named John Remondi as its chief executive officer.

** TATA MOTORS LTD, $27.95, up 4 pct (1121 ET)

The Indian auto maker posted a 36.7 percent fall in fourth-quarter net profit, a smaller-than-expected drop, as a jump in sales at its Jaguar Land Rover (JLR) subsidiary offset falling profit at its domestic business.

** NATIONSTAR MORTGAGE HOLDINGS LLC, $40.43, down 2.2 percent (1023 ET)

The residential mortgage services company said its subsidiaries Nationstar Mortgage LLC and Nationstar Capital Corp will sell $300 million unsecured senior notes due 2022. (Compiled by Chandni Doulatramani; Editing by Sriraj Kalluvila)

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