June 11, 2013 / 1:43 PM / 4 years ago

MARKET PULSE-Dole Food, Corinthian, CardioNet, Questcor

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June 11 (Reuters) - Some U.S. stocks on the move on Tuesday:


U.S. stocks fell on Tuesday after Japan did not offer new measures to calm its bond market, disappointing U.S. investors who are also trying to gauge the future direction of central bank policy at home. The Dow Jones industrial average was down 0.52 percent, the Standard & Poor’s 500 Index was down 0.62 percent, the Nasdaq Composite Index was down 1.14 percent.

** DOLE FOOD CO INC, $12.34, up 20 pct (0932 ET)

Fruit and fresh vegetable distributor Dole Food Co Inc DOLE.N received an unsolicited buyout offer from Chief Executive David Murdock valuing the company at just over $1 billion.

** CORINTHIAN COLLEGES INC, $2.34, down 16 pct (0932 ET)

The U.S. education company said it received a subpoena from the Securities and Exchange Commission requesting documents relating to student information in recruitment, attendance, placement, defaults on federal loans.

** CARDIONET INC, $4.76, up 48 pct (0936 ET)

The company said its heart-monitoring solutions will receive insurance coverage from UnitedHealthcare Insurance Co from July 1. CardioNet said the three-year agreement would apply to all of the insurer’s affiliates including managed Medicare and Medicaid plans.

** MCEWEN MINING INC, $2.33, down 6 pct (0933 ET)

The gold miner lowered its annual production target to 225,000 gold equivalent ounces by 2016 from 290,000 gold equivalent ounces due to lower metal prices and higher cost of capital.

** KINROSS GOLD CORP, $5.92, down 6 pct (0932 ET)

Analysts at Canaccord Genuity cut their rating on the gold miner’s stock to “hold” from “buy” after the company said it would not proceed with the development of the Fruta del Norte project in Ecuador.

** QUESTCOR PHARMACEUTICALS INC, $48.23, up 31 pct (0934 ET)

The company said it had acquired rights to Synacthen, a rival to its flagship multiple sclerosis drug Acthar, from Novartis AG and its U.S. arm, Novartis Pharma AG, for $60 million.

The agreement gives Questcor rights to the drug and its injection formulation in the United States and certain other countries. Synacthen has not yet been approved by the U.S. Food and Drug Administration.

Questcor also agreed to make additional milestone payments of about $75 million over the next several years.

** DIAMOND FOODS INC, $18.88, up 7 pct (0934 ET)

The company said it will restate its consolidated financial statements for the three- and six-month periods ended Jan. 31 due to an error in calculation of diluted earnings per share.

** GAMESTOP INC, $36.86, up 5 pct premarket (0935 ET)

The largest U.S. video game retailer said it is now taking pre-orders for Xbox One and PS4, the next generation of gaming consoles from Microsoft Corp and Sony Corp.

** CROSSTEX ENERGY LP, $19.94, down 5 pct (0936 ET)

The pipeline company said it was offering 6 million units for sale and would use the proceeds to fund capital expenditure for already identified projects, including its Cajun-Sibon natural gas liquids pipeline expansion project.

** LDK SOLAR CO LTD, $1.49, down 9 pct (0937 ET)

The Chinese solar panel maker is expected to report its eighth straight quarterly loss due to weak panel prices.

** LULULEMON ATHLETICA INC , $69.99, down 15 pct (0937 ET)

The premium yogawear chain, its fortunes dented by an embarrassing and costly recall of excessively see-through pants, said on Monday that Chief Executive Christine Day will step down once it finds a replacement.

** SPRINT NEXTEL CORP, $7.36, up 2.5 pct (0937 ET)

Japanese mobile operator SoftBank said it had agreed with Sprint to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish.

Compiled by Aditi Shrivastava; Editing by Sreejiraj Eluvangal

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