July 1, 2013 / 2:07 PM / in 4 years

MARKET PULSE-Onyx Pharma, Acura, BlackBerry, Apple, News Corp

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter link.reuters.com/zaq39t)

July 1 (Reuters) - Some U.S. stocks on the move on Monday:


U.S. stocks bounced back from the previous session’s decline to start the second half of 2013 by building on the S&P 500’s strongest first half of a year since 1998. The Dow Jones industrial average was up 0.66 percent, the S&P 500 up 0.75 percent and the Nasdaq Composite up 0.95 percent.

** ONYX PHARMACEUTICALS INC, $131.95, up 52 pct (0931 ET)

The cancer drugmaker said on Sunday it rejected a roughly $10 billion takeover offer from larger biotechnology company Amgen Inc as too low but was still considering selling itself. Canaccord Genuity raised the price target on Onyx’s stock to $140 from $105.

** ACURA PHARMACEUTICALS INC, $2.52, up 34 pct (0932 ET)

The company said partner Pfizer Inc will expand the marketing of its pain drug, Oxecta, in the fourth quarter. Acura receives tiered royalties ranging from 5 percent to 25 percent on net sales of the drug, which was developed using its technology.

** INSMED INC, $9.44, down 21.3 pct (0933 ET)

The company’s experimental lung infection drug did not fare as well as a competing drug developed by Novartis AG in a lung function test.

** BLACKBERRY , $10.36, down 1 pct (0934 ET)

Needham & Co and Societe Generale downgraded the smartphone maker’s stock, while UBS Investment Research, Jefferies & Co and Canaccord Genuity cut their price targets. The company’s total market value plunged by more than one-fourth on Friday after the smartphone maker reported dismal quarterly results, prompting deeper skepticism about a long-promised turnaround.

** Nokia Corp, $3.93, up 5 pct (0932 ET)

The phone maker announced plans to buy out Siemens AG’s share of their network equipment joint venture, betting on the technology to run 4G networks as it struggles in the smartphones business. Nokia gains full control of the profitable venture Nokia Siemens Networks (NSN) for $2.2 billion, a cheaper than-expected price, analysts said.

** APPLE INC, $401.39, up 1.2 pct (0935 ET)

Apple has applied for a trademark for “iWatch” in Japan, a patent official said on Monday, signalling the iPhone maker may be moving ahead with plans for a watch-like device as gadget makers turn their attention to wearable computers.

** CITIGROUP INC, $48.65, up 1.4 pct (0935 ET)

Citigroup will pay Fannie Mae $968 million to resolve potential mortgage repurchase claims for breaches of representations on loans sold to Fannie Mae between 2000 and 2012.

** EZCORP Inc, $16.63, down 1.6 pct (0958 ET)

The pawn broker and payday lender said it expects to fall short of its third-quarter profit forecast as plunging gold price crimps margins.

** INTERDIGITAL INC, $37.93, down 15 pct (0937 ET)

InterDigital lost the first round of its case against Huawei Technologies, Nokia Corp and ZTE Corp , after a judge at the International Trade Commission said on Friday in a preliminary decision that they did not violate cell phone patents owned by InterDigital.

** LIGAND PHARMACEUTICALS INC, $43.23, up 15 pct (0950 ET)

Cantor Fitzgerald raised its price target on the biopharmaceutical company’s stock to $36 from $28.

** CHINA SUNERGY CO LTD, Friday close $2.08, up 2 pct (0938 ET)

The solar panel maker reported higher first-quarter shipments due to increased demand from France, its largest market, and said it expects margins to expand in the current quarter.

** INTUIT INC, $62.73, up 2.7 pct (0939 ET)

The maker of tax-preparation software TurboTax said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business.

** FLEEMATICS GROUP PLC, $32.00, down 3.7 pct (0940 ET)

The fleet management software maker said on Friday it will sell 1 million shares and its CEO and other shareholders will sell 7 million shares.

** BEST BUY CO INC, $28.65, up 5 pct (0956 ET)

Credit Suisse resumed its coverage of the U.S. retailer by raising it target price on the stock to $40 from $32. “... The most important new game changer is the vendor agreements (with Microsoft Corp and Samsung Electronics Co Ltd ) to operate within Best Buy stores,” analysts wrote in a note to clients.

** NEWS CORP, $15.33, up 0.5 pct (0952 ET)

** 21ST CENTURY FOX, $29.57, up 2.7 pct

News Corp, which includes the Wall Street Journal and HarperCollins, and 21st Century Fox, the fast-growing entertainment business, started trading as separate companies on the Nasdaq on Monday. (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