(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/nex49s) U.S. stocks edged lower on Tuesday on profit-taking after the S&P 500 index climbed to a record in the prior session and on caution the Federal Reserve may end its stimulus efforts sooner than expected. The Dow Jones industrial average was down 0.21 percent at 15,991.71, the S&P 500 was down 0.20 percent at 1,804.72 and the Nasdaq Composite was down 0.06 percent at 4,066.307.
** EAGLE BULK SHIPPING INC, $3.1, -12.68 pct
** GENCO SHIPPING AND TRADING LTD, $1.85, -25.10 pct
The dry bulk shippers have hired restructuring advisers a month after creditors sold off large amounts of the companies' debts, the Wall Street Journal reported on Monday, quoting sources familiar with the matter. (r.reuters.com/dys35v)
Banks are trying to improve their balance sheets by scaling down exposure to the shipping industry, which has been in crisis for several years.
Reuters reported in November that Royal Bank of Scotland was in talks to sell $800 million in Eagle Bulk debt. Norwegian bank DNB has said it sold some of the debt it held against Genco.
** RAMBUS INC, $10.0775, +18.14 pct
The technology licensing company said on Monday it signed a patent cross license agreement with chipmaker Micron Technology Inc and settled all patent and antitrust claims.
The deal will bring Rambus royalty payments capped at $10 million per quarter over the next seven years, with a rolling twelve-month cap of $40 million, or $280 million during the initial term.
** NEUROMETRIX INC, $3.5099, +17.00 pct
The medical device maker said it entered into a distribution agreement with a unit of Omron Corp to market its test for the early detection of diabetic peripheral neuropathy (DPN), a common complication of diabetes.
DPN is characterized by numbness, loss of sensation, pain in the limbs and is the primary trigger for diabetic foot ulcers which may require amputations.
** ARIAD PHARMACEUTICALS INC, $4.55, +6.06 pct
Stifel upgraded its rating on Ariad’s stock to “buy” from “hold,” citing the “overwhelming support” shown by doctors at an industry conference for using the company’s blood cancer drug, Iclusig, as a third-line treatment, or when prior treatments fail.
** BURLINGTON STORES INC, $25.36, -9.75 pct
he off-price retailer forecast slower growth in comparable-store sales for the key holiday selling season, even as third-quarter results topped analysts average estimates helped by a 3.9 percent rise in comparable-store sales.
The company said it expects same-store sales of 2 percent to 3 percent for the fourth-quarter.
** BARRICK GOLD CORP, $16.84, +5.25 pct
** ELDORADO GOLD, $5.99, +4.72 pct
** GOLDCORP INC, $21.91, +4.23 pct
** NEWMONT MINING CORP, $24.35, +3.18 pct
** HECLA MINING CO, $2.95, +2.43 pct
** KINROSS GOLD CORP, $4.79, +4.59 pct
** ROYAL GOLD INC, $47.89, +5.90 pct
** AURICO GOLD INC,, $3.97, +5.31 pct
** FIRST MAJESTIC SILVER CORP, $10.23, +7.91 pct
** AGNICO EAGLE MINES LTD, $27.6, +6.44 pct
** ANGLOGOLD ASHANTI LTD, $13.21, +8.81 pct
** YAMANA GOLD INC, $9.07, +3.42 pct
** COEUR MINING INC, $11.25, +7.25 pct
** IAMGOLD CORP, $4.07, +4.09 pct
** SILVER WHEATON, $21.19, +3.92 pct
** ENDEAVOUR SILVER CORP, $3.61, +5.56 pct
** SILVER STANDARD RESOURCES INC, $6.409, +6.29 pct
Gold hit a three-week high on Tuesday, supported by a broadly weaker dollar, with momentum also continuing after the market’s recent short-covering rally while investors and analysts speculated over the timing of U.S. monetary stimulus reduction.
Spot gold extended initial gains and rose as much as 1.6 percent and was trading up 1.5 percent by 1323 GMT.
Silver continued to take influence from gold and even outperformed the metal to rise 2.3 percent on the day to $20.31 per ounce.
** AUTOZONE INC, $474.39, +3.73 pct
The largest U.S. auto parts retailer reported a better-than-expected quarterly profit as cold weather and delayed repairs drove demand for vehicle parts.
** ANALOGIC CORP, $86, -7.18 pct
The biotechnology company reported first-quarter results that fell well short of Wall Street estimates due to tepid sales in its medical imaging business, which fell 21 percent in the quarter.
** THE PEP BOYS - MANNY, MOE & JACK, $12.59, -6.11 pct
The aftermarket auto parts retailer reported lower-than-expected quarterly results as competition hurt sales of its low-priced tires. Same-store sales fell 2.8 percent in the third quarter.
** ICAHN ENTERPRISES LP, $135.29, -8.91 pct
The Carl Icahn-controlled company sold 2 million depositary units and said the proceeds would be invested in its subsidiaries.
** GERON CORP, $5.35, -3.08 pct
The company said its experimental blood disorder drug, imetelstat, showed improvement in the first 22 myelofibrosis patients in investigator-sponsored trial.
Myelofibrosis is a rare blood disorder that causes scarring of the bone marrow.
Needham upgraded the drug developer’s stock to “buy” from “hold,” according to Streetinsider.com.
** ZOGENIX INC, $3.19, +2.24 pct
The company said U.S. health regulators approved a lower dose of its migraine drug to help patients manage their side effects.
The drug, Sumavel DosePro, is administered under the skin using a needle-free delivery system. A higher dose of the drug is currently approved for the treatment of acute migraines and cluster headaches.
** FORMFACTOR INC, $5.82, +10.75 pct
The semiconductor wafer probe maker’s facility in China was making steady progress and got its first order since a fire at the facility that hurt the company’s fourth-quarter results, Formfactor said on a conference call.
The company also said it resolved the supply chain issues that affected deliveries to a key Japanese customer in the third and fourth quarters.
** ENANTA PHARMACEUTICALS INC, $33.4, +12.61 pct
A late-stage trial of an experimental oral hepatitis C drug from AbbVie Inc and Enanta showed about 96 percent of the patients had no detectable levels of the virus in the blood after 12 weeks.
** TRAVELCENTERS OF AMERICA LLC, $9.3, -9.27 pct
The operator of travel centers along the U.S. interstate highways said it began a public offering of 5 million shares late on Monday.
** BROADCOM CORP, $28.4875, +2.18 pct
The wireless chipmaker said current-quarter revenue would likely be above its earlier forecast due to better-than-expected demand across all its units.
** TEVA PHARMACEUTICAL INDUSTRIES, $40.44, +0.72 pct
The world’s biggest generic drugmaker forecast a big drop in profit in 2014 if cheap generic competition to its blockbuster multiple sclerosis treatment Copaxone is launched.
** CELGENE CORP, $172.34, +1.37 pct
Credit Suisse upgraded the stock to “outperform” from “neutral,” saying data from a clinical trial of the company’s cancer drug provided strong support for the drug’s use as an initial or first-line treatment in multiple myeloma.
The drug, Revlimid, is currently approved for treating multiple myeloma and mantle cell lymphoma, but only in patients who have received prior therapy. It is also used to treat transfusion-dependent anemia.
** COMTECH TELECOMMUNICATIONS CORP, $31.94, +2.08 pct
The communications equipment maker reported better-than-expected first-quarter results and raised its guidance for the fiscal year ending July 2014.
** NXP SEMICONDUCTORS NV, $42.68, -2.00 pct
The semiconductor maker, whose chips and sensors are used in cars, identification equipment and mobile phones, said on Monday that 25 million of its shares would be sold by some shareholders, including funds managed by Kravis Roberts & Co LP , Bain Capital Partners LLC and Silver Lake Technology Management LLC.
** FIFTH & PACIFIC COS INC, $33.51, +1.18 pct
The apparel and accessories maker said it will sell its Lucky Brand Jeans business to an affiliate of private equity firm Leonard Green & Partners L.P. for $225 million as it focuses on its high-end kate spade brand.
** OUTERWALL INC, $66.48, +2.39 pct
The company said the president of its Redbox video rental kiosks division, Anne Saunders, had left the business and it would cut 251 jobs, or 8.5 percent of its workforce.
** PIONEER NATURAL RESOURCES CO, $181.43, +2.25 pct
** PIONEER SOUTHWEST ENERGY PARTNERS, $42.38, +2.89 pct
Oil and gas producer Pioneer Natural and its unit Pioneer Southwest Energy said their fourth-quarter results could fall short of their expectations after a severe winter in Texas hurt production.
** QUEST DIAGNOSTICS INC, $58.3, -3.36 pct
Bank of America Merill Lynch cut the laboratory test provider’s stock to “underperform” from “buy”, according to Streetinsider.com.
** INSULET CORP, $36.58, -0.33 pct
The medical device maker said it signed an agreement with biotechnology giant Amgen Inc to supply it with a drug delivery device specifically designed for biotechnology medicines.
Insulet did not disclose the financial terms of the deal.
** TRINITY INDUSTRIES INC, $52.28, +4.46 pct
The railcar manufacturer said Element Financial Corp agreed to provide it with lease financing of up to $2 billion worth of railcars over the next two years.
The first purchase of about $100 million of these leased railcars is expected to close by Dec. 31 and add 11 to 13 cents per share to Trinity’s fourth quarter earnings.
** FINISAR CORP, $22.24, -1.59 pct
The network equipment maker said on Monday it will offer $200 million worth of convertible senior notes, and would use the proceeds for general corporate purposes, including working capital and acquisitions.
** PINNACLE FOODS INC, $27.1, -3.11 pct
The packaged foods company said on Monday that some of its stockholders had begun a secondary offering of 17 million shares. The company also said the underwriters have an option to purchase up to an additional 2.6 million shares from the stockholders.
** ARES CAPITAL CORP, $17.7576, -2.91 pct
The business development company said it would offer 14.3 million shares and expects to use the proceeds to repay debt and for investments.
** DIODES INC, $22, +7.16 pct
The maker of diodes, transistors and sensors raised its fourth-quarter gross profit margin forecast to 26.6-30.6 percent from 26-30 percent. The company maintained its fourth-quarter revenue outlook of $205-$220 million. (Compiled by Avik Das in Bangalore; Edited by Savio D‘Souza)