June 20, 2013 / 2:34 PM / 4 years ago

MARKET PULSE-Ebix, Gamestop, Solta Medical, Finisar, Steelcase

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)

June 20 (Reuters) - Some U.S. stocks on the move on Thursday:


U.S. stocks fell at the open, adding to a more than 1 percent drop a day earlier after remarks by Federal Reserve Chairman Ben Bernanke who outlined the start of a wind-down of stimuli that has been instrumental to the market’s rally. The Dow Jones industrial average was down 0.43 percent, the Standard & Poor’s 500 Index down 0.69 percent, and the Nasdaq Composite Index down 1.05 percent.

** EBIX INC, $9.93, down 48 pct (0930 ET)

The insurance software provider and an affiliate of Goldman Sachs Group Inc canceled their planned merger after U.S regulators started an investigation into allegations of misconduct at Ebix.

** SOLTA MEDICAL INC, $2.38, up 7 pct (0931 ET)

The maker of aesthetic skin treatments said it received marketing approval for its laser system device, Fraxel DUAL 1550/1927, for the treatment of pigmented lesions.

** BARRICK GOLD CORP, $17.03, down 5 pct (0956 ET)

** IAMGOLD CORP, $4.72, down 4 pct

** RANGOLD RESOURCES LTD, $67.06, down 4 pct

** YAMANA GOLD INC, $9.58, down 7 pct

** GOLDCORP INC , $24.85, down 5 pct

** ROYAL GOLD INC, $46.95, down 6 pct

** PAN AMERICAN SILVER CORP, $11.05, down 4 pct

** NEWMONT MINING CORP, $30.57, down 4 pct

Gold prices tumbled to their lowest in more than 2-1/2 years and silver fell more than 6 percent after the U.S. Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end.

Spot gold was down 3.5 percent at $1,302.90 an ounce at 1141 GMT. Silver was the biggest loser among the precious metals, sliding more than 6 percent to a session low at $19.68 an ounce, its weakest since September 2010.

** FINISAR CORP, $16.07, up 11 pct (0956 ET)

The network equipment maker reported on Wednesday a quarterly profit that beat analysts’ expectations as demand for its fiber optic products rose. Analysts at Piper Jaffray raised their price target on the stock to $20 from $19.

** PROGENICS PHARMACEUTICALS INC, $4.21, down 12 pct (1000 ET)

The company’s public offering of its 8.5 million shares was priced at $4.40 each, a discount of 8 percent to the stock’s Wednesday close of $4.80.

** ZION OIL & GAS INC, $2.23, up 8 pct (0957 ET)

The company, which explores for oil and gas in Israel, said on Wednesday it was likely to start in-well testing at its Elijah #3 well in the Asher-Menashe license in September. The company submitted an application to Israel’s Petroleum Commissioner for a one-year extension of the license in April.

** PRIMA BIOTECH LTD, $2.49, up 10 pct (1000 ET)

The Australian company said late on Wednesday that data from its ovarian cancer study has been selected for presentation at the European Cancer Congress Scientific Committee’s annual meeting in Amsterdam this October.

** STEELCASE INC, $13.72, down 9 pct (0952 ET)

The furnishing company reported first-quarter revenue that missed analysts’ expectations. The company also forecast second-quarter earnings that narrowly missed expectations.

** GAMESTOP CORP, $40.37, up 5 pct (0949 ET)

Microsoft Corp said on Wednesday that users of its forthcoming Xbox One game console will be able to lend or sell used disc-based games. This is good news for GameStop’s used games business, helped by faster Xbox One adoption.

** WALT DISNEY CO, $63.20, down 2 pct (1002 ET)

Goldman Sachs downgraded the media giant’s stock to “neutral” from “conviction buy,” according to Theflyonthewall.com.

** KROGER CO, $34.49, up 2 pct (1001 ET)

The biggest U.S. supermarket operator reported an increase in quarterly profit and raised its annual profit forecast.

** METHODE ELECTRONICS INC, $14.77, up 1.5 pct (1002 ET)

The electro-mechanical devices maker reported a fourth-quarter profit that handily beat analysts’ estimates. Methode anticipates sales of $630 million to $660 million and earnings of 91 cents to $1.11 per share for fiscal 2014. Analysts were expecting earnings of $1.04 per share on revenue of $640.4 million, according to Thomson Reuters I/B/E/S.

** JABIL CIRCUIT INC, $19.35, down 2 pct (0950 ET)

The contract electronics maker forecast current-quarter core earnings below analysts’ estimates and said it planned to cut an unspecified number of jobs as part of a restructuring plan. Jabil’s third-quarter net income fell to $49.6 million from $101.6 million.

** RED HAT INC, $47.53, up 3 pct (0950 ET)

World’s largest commercial distributor of the Linux operating system, reported higher first-quarter results due to a rise in subscriptions.

** HOME LOAN SERVICING SOLUTIONS LTD, $23.32, down 4 pct (0948 ET)

The residential mortgage servicer issued 12.5 million shares and said it will use the proceeds from the offering to buy mortgage servicing assets from Ocwen Loan Servicing LLC. The company has 56.86 million outstanding shares.

** DENBURY RESOURCES INC, $17.58, down 3 pct (0940 ET)

The oil and gas producer said it found a leak in a well in northern Louisiana last week. The company said in a regulatory filing that it immediately took remedial action to contain and recover all liquids in the affected area. (link.reuters.com/haq98t)

** RITE AID CORP, $3.01, down 3 pct (0947 ET)

The third-largest U.S. drugstore chain reported a 2.7 percent fall in first-quarter revenue largely because it sold more generic drugs, which are less expensive but more profitable, and as it closed stores.

** CLIFFS NATURAL RESOURCES INC, $17.74, down 4 pct (0944 ET)

The company could scrap a key expansion at its Bloom Lake mine in Canada’s iron-rich Labrador Trough region if iron ore prices fell further, Joseph Carrabba told Reuters on Wednesday.

** ATOSSA GENETICS, up 2.5 pct, $4.99 (0952 ET)

The women’s health company said laboratory equipment maker Thermo Fisher Scientific Inc has agreed to distribute Atossa’s Forecyte breast health devices that help with breast cancer risk assessment. (Compiled by Kanika Sikka; Editing by Don Sebastian)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below