January 6, 2014 / 2:59 PM / 4 years ago

MARKET PULSE-Jos. A. Bank, Select Comfort, Hhgregg, Twitter, Pacer

(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)

Jan 6 (Reuters) - U.S. stocks were down on Monday, ahead of services sector and factory goods data that could provide clues on the momentum of U.S. economic growth at the start of the new year. The Dow Jones industrial average was down 0.08 percent at 16,456.06, the S&P 500 was down 0.05 percent at 1,830.42 and the Nasdaq Composite was down 0.32 percent at 4,118.567.

** MEN‘S WEARHOUSE INC, $51, +0.81 pct

** JOS. A. BANK CLOTHIERS INC, $56.27, +7.10 pct

Apparel retailer Men’s Wearhouse mounted a hostile bid for Jos. A. Bank with a raised offer, days after the smaller rival upped its buyout defenses.

** SELECT COMFORT CORP, $17.4625, -18.21 pct

The specialty mattress maker estimated holiday-quarter sales below analysts’ average expectations, blaming a slowdown from Cyber Monday through December.

** HHGREGG INC, $12.56, -7.65 pct

The appliance and electronics retailer said it expects third-quarter revenue well below analysts’ average expectations, hurt by heavy promotional activity for its television and tablet products during the holiday season. The company said third-quarter revenue would be about $707.1 million, lower than the average analyst estimate of $776.9 million, according to Thomson Reuters I/B/E/S.

** TWITTER INC, $63.87, -7.43 pct

At least two brokerages cut their rating on the microblogging website’s stock on Monday.

CRT Capital Group cut Twitter’s stock to “fair value” from “buy” on valuation. Morgan Stanley cut its rating on the stock to “underweight” from “equal weight”, benzinga.com reported.

** FIRST SOLAR INC, $53.5, -5.71 pct

** SOLARCITY CORP, $66.74, +12.60 pct

Analysts at Goldman Sachs cut their rating on First Solar to “sell” from “buy”, saying growth in the United States was likely to shift away from utility-scale solar projects to rooftop projects in the coming years. The analysts said First Solar’s technology was ill-suited for rooftop projects, calling it “mis-positioned” versus U.S. solar peers.

The analysts raised their rating on SolarCity to buy from neutral, saying it was well positioned to capitalize on fast growth in the rooftop market.

** JINKOSOLAR HOLDING CO LTD, $35.2, +8.17 pct

The Chinese solar company signed a loan agreement with China Development Bank for about $66 million. The 15-year loan will be used to build three solar plants in Western China.

** RENESOLA LTD, $4.33, +6.39 pct

The Chinese solar products maker said it won a contract to supply 420 megawatts of panels to a project developer based in Japan. ReneSola did not name the company. Shipments will begin this month and is expected to be completed by December 2015.

** WORLD FUEL SERVICES CORP, $43.66, +2.15 pct

The U.S. fuel logistics company said it would buy England-based privately held Watson Petroleum Ltd for $191 million. The deal, which is expected to be completed in the next three months, could add $0.18-$0.22 per share to World Fuel’s earnings in the first year, the company said.

** XPO LOGISTICS INC, $29.43, +4.99 pct

** PACER INTERNATIONAL INC, $9.04, +8.52 pct

XPO Logistics said it would buy Pacer International for $335 million to become the third-largest North American provider of intermodal services, one of the fastest-growing areas of transportation logistics.

** LIBERTY MEDIA CORP, $144.25, -0.74 pct

** SIRIUS XM HOLDINGS INC, $3.81, +6.72 pct

Liberty Media on Friday said it would offer to buy out the minority shareholders in satellite radio provider Sirius XM, in a deal that could give cable mogul John Malone a freer hand in driving cable consolidation.

** ARATANA THERAPEUTICS INC, $19.57, +2.46 pct

The pet medication products maker said it acquired Belgium-based Okapi Sciences NV, expanding its presence in Europe and broadening its product portfolio.

Aratana paid about 10.3 million euros ($14 million) in cash and issued a promissory note for 11 million euros with a maturity date of Dec. 31. Aratana also agreed to pay an additional 12 million euros in cash or shares of common stock under certain conditions.

** SCORPIO BULKERS INC, $9.76, +0.51 pct

The dry bulk carrier said it would buy 22 dry bulk vessels for about $1.17 billion. The company already has 52 dry bulk vessels on order to be delivered starting from the second quarter of 2014 from shipyards in Japan, China and Romania.

** BARRICK GOLD CORP, $18.38, +1.27 pct

** GOLDCORP INC, $22.42, +0.58 pct

** NEWMONT MINING CORP, $24.31, +1.63 pct

** YAMANA GOLD INC, $8.92, +0.79 pct

** ELDORADO GOLD, $5.9, +0.34 pct

Gold rallied for a fifth day to its highest level in nearly three weeks on Monday, as softer equity markets prompted investors to tap the asset’s safe-haven qualities.


The drugmaker said it met with the U.S. health regulator to update on the development program for its experimental drug, Firdapse, and is on track to file its application seeking marketing approval.

The drug, used to treat symptoms of Lambert-Eaton Myasthenic Syndrome - a muscle-weaking autoimmune disorder - is currently being studied in late-stage trials.

Catalyst also said it would submit data from additional in-vitro preclinical studies along with its application, and does not expect these studies to impact the filing timeline or add to its forecast of development costs for Firdapse.

** CELL THERAPEUTICS INC, $2.269, +3.14 pct

The company said Britain’s National Institute for Health and Care Excellence (NICE), which decides if drugs should be paid for on the state health service, said its cancer drug, Pixuvri, was cost-effective and recommended its funding as a treatment for adult patients with B-cell non-Hodgkin lymphoma.

The company said it expects to launch Pixuvri in England and Wales in early spring, when NICE’s recommendation is implemented.

** GENWORTH FINANCIAL INC, $15.85, +2.99 pct

Analysts at UBS raised the rating of the financial services company’s stock to “buy” from “neutral”, according to theflyonthewall.com.

Compiled by Rohit T.K. in Bangalore; Editing by Sriraj Kalluvila

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