February 25, 2014 / 3:03 PM / 4 years ago

MARKET PULSE-Intermune, BlackBerry, Highpower, Tesla, Sina 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/nex49s) U.S. stocks opened slightly higher on Tuesday, with the S&P 500 brushing against its record intraday high of the previous session, lifted by gains from Home Depot and Macy's and after home prices rose more than expected. The Dow Jones industrial average was up 0.07 percent at 16,218.83, the S&P 500 was down 0.01 percent at 1,847.44 and the Nasdaq Composite was up 0.06 percent at 4,295.421.

** LINKEDIN CORP, $208.29, +4.36 pct

The professional social networking website launched a Chinese language version of its website on Monday, a move that could jumpstart its expansion into the world’s largest Internet market by users even as the company acknowledged it will have to police what some of them say on its website.

** BLACKBERRY LTD, $10.4301, +6.10 pct

The handset maker unveiled a cheaper touchscreen smartphone and a “classic” model with a keyboard as it tries to stem losses and win back a once devoted following by security-conscious business and government users.

BlackBerry also plans to launch a new tool for business and government customers to manage mobile devices on their networks, part of a drive by the smartphone pioneer to focus on its profitable enterprise or services business.

** INTERMUNE INC, $32.125, +130.12 pct

The drug maker said experimental drug, in a late-stage trial, reduced the progression of a disease that leads to loss of lung function, taking the treatment closer to U.S. marketing approval. The drug, pirfenidone, was rejected by the U.S. Food and Drug Administration in May 2010, citing lack of data to prove its efficacy in treating idiopathic pulmonary fibrosis (IPF), a potentially fatal lung disease.

** ZULILY INC, $59.09, +37.93 pct

The Seattle-based company, which sells discounted apparel for moms and kids on its flash deal website, reported better-than-expected fourth-quarter results in its first earnings report since going public in November, and forecast first-quarter revenue above analysts’ average estimates.

** PERRY ELLIS INTERNATIONAL INC, $12.68, -19.13 pct

The clothing retailer said on Monday it expects a fall in quarterly revenue, hurt by severe cold conditions and weak consumer spending across its distribution channels, and forecast lower-than-expected 2015 revenue.

** REALPAGE INC, $16.1, -22.30 pct

The software maker reported a lower fourth-quarter profit on Monday, hurt by higher operating costs, prompting at least two brokerages to cut their price targets on the company’s stock.

** OFFICE DEPOT INC, $4.68, -12.52 pct

** STAPLES INC, $12.7201, -5.00 pct

The office supply retailer reported a surprise quarterly loss as same-store retail sales fell 4 percent in North America, sending its shares reeling. [ID:L3N0LU3A4}

Shares of rival Staples also fell in premarket trading.

** AIXTRON, $15.7, -6.82 pct

Germany’s Aixtron disappointed investor hopes for a return to operating profit this year as demand for its LED chip-making equipment remained weak. It expects 2014 revenue to remain flat compared to 2013’s 182.9 million euros ($251 million), while its operating result will improve but remain in the red.


The maker of rechargeable batteries said it received its first order for large-format lithium batteries to be used in electric buses from China’s Huizhou Yipeng Energy Technology Ltd. Highpower said it expected sales to Huizhou to range between $4 million and $5 million in 2014.

** TESLA MOTORS INC, $243.27, +11.77 pct

Morgan Stanley raised its price target on the electric car maker’s stock to $320 from $153 as it expected the company’s sales volume to increase by 250,000 units per year from 2017 through 2028.

** APOLLO INVESTMENT CORP, $8.7, -4.92 pct

The business development company announced a common stock offering of 12 million shares on Monday and said it would use the proceeds from the offering to repay debt. The company has about 224.75 million outstanding shares.

** GOOGLE INC, $1,213.294, +0.06 pct

Google is lobbying officials in at least three U.S. states to stop proposed restrictions on driving with headsets such as Google Glass, marking some of the first clashes over the nascent wearable technology. Some eight U.S. states are considering regulation of Google Glass, a tiny computer screen mounted in the corner of an eyeglass frame. Law enforcement and other groups are concerned that drivers wearing the devices will pay more attention to their email than the road, causing serious accidents.

** JPMORGAN CHASE & CO, $57.27, -1.31 pct

The largest U.S. bank is reducing both its profit target and headcount in 2014, according to a Tuesday presentation. The bank trimmed its profit target to a range of 15 percent to 16 percent return on tangible common equity, down from 16 percent. JPMorgan also said it expected total headcount to fall by 5,000 to 260,000 in 2014.

** T-MOBILE US INC, $32.3, -0.03 pct

The No.4 U.S. mobile services company reported a bigger quarterly net loss, hurt by increased spending on promotions, and forecast higher capital spending for 2014.

T-Mobile said it raised its 2014 capital spending to between $4.3 billion and $4.6 billion, from $4.2 billion last year, to upgrade its network.

** SPECTRANETICS CORP, $28.03, +9.84 pct

The medical device maker said its laser procedure for the treatment of in-stent restenosis, a condition in which the coronary artery narrows again after using a stent, met its goal in a trial. The procedure was evaluated in combination with a procedure to open up blocked arteries in patients suffering from peripheral artery disease. Spectranetics said it would submit its marketing application for its laser atherectomy with the U.S. FDA in the next 45 days.

Canaccord Genuity, which raised its price target on the stock to $32 from $30, said the trial’s success gives Spectranetics “a map that more definitively illuminates the path to the end of the ISR (in-stent restenosis) rainbow.”

** WESTERN UNION CO, $16.08, -1.65 pct

The money-transfer company is being probed by the Federal Trade Commission and a U.S. district court over fraud-induced money transfers, the company said in a regulatory filing on Monday.


The company said the U.S. Food and Drug Administration accepted the marketing application for its influenza drug. The FDA is expected to announce its decision on the drug by Dec. 23.

** MACY‘S INC, $54.42, +2.56 pct

The department store chain on Tuesday said sales in its new fiscal year were off to a slow start, coming on the heels of a dip in January. The company said comparable sales, which include those online and at stores open at least a year, rose 1.4 percent in the fourth quarter ended Feb. 1 as the decline in January partly offset a strong holiday season for the Macy’s chain.

** HOME DEPOT INC, $79.93, +2.65 pct

The world’s largest home improvement chain reported a higher-than-expected quarterly profit on Tuesday as it kept a tight lid on costs to offset weak sales. Some Wall Street analysts said the retailer held up pretty well in a quarter plagued by inclement weather in its key U.S. market and weakness in the Canadian currency.

** TOLL BROTHERS INC, $37.67, -1.75 pct

The largest U.S. luxury homebuilder, reported a 52 percent jump in quarterly revenue as it sold more houses at higher prices in a recovering housing market.

** DOMINO‘S PIZZA INC, $76.4, +2.29 pct

The second-largest U.S. pizza chain reported a 5 percent rise in quarterly revenue as new menu items helped boost sales around the world. Sales in the United States, Domino’s biggest market, rose 4.8 percent as new products such as handmade pan pizzas and chicken tacos drew customers.

** SEADRILL LTD, $35.4, -6.05 pct

The world’s biggest offshore driller by market capitalisation, reported fourth-quarter operating earnings broadly in line with forecasts and warned of a slowdown in the drilling market.

** SOLARCITY CORP, $79.16, +0.78 pct

The largest residential solar installer in the United States said on Monday it expected to install fewer panels in a seasonally weak first quarter due to cold weather.

** EXTERRAN HOLDINGS INC, $38.67, +5.95 pct

The company, which provides natural gas-compression services and oilfield equipment, initiated a quarterly dividend of 15 cents per share and reported a better-than-expected profit for the fourth quarter ended Dec. 31, helped by higher demand for energy infrastructure in the United States and abroad.

** MINERALS TECHNOLOGIES INC, $52.48, -0.17 pct

** AMCOL INTERNATIONAL CORP, $44.85, -1.39 pct

Mineral Technologies on Monday raised its offer to buy Amcol International to about $1.38 billion. The offer of $42.50 per share represents a 7 percent discount to Amcol’s Monday close. Minerals Technologies had offered to buy Amcol for $42 per share on Feb. 14, topping an offer of $41 per share from France’s Imerys.

** 8X8 INC, $10.44, +5.24 pct

** PROSPECT CAPITAL CORP, $11.07, -2.64 pct

S&P Dow Jones Indices said on Monday internet telephone company 8X8 would replace Prospect Capital in the S&P SmallCap 600.

** INTEROIL CORP, $58.45, +2.62 pct

Oil Search Ltd said it was close to sealing a significant acquisition, sparking speculation it had reached a deal to buy into rival InterOil’s gas fields in Papua New Guinea. Oil Search, Papua New Guinea’s biggest oil firm, had said it was in talks to buy into the Elk and Antelope fields, which French oil giant Total SA acquired a stake in last December.

** TENET HEALTHCARE CORP, $46.1, -4.61 pct

The healthcare company on Monday posted a fourth-quarter net loss on Monday due to costs primarily for financing its acquisition of smaller hospital chain Vanguard Health Systems.

** SINA CORP, $69.24, -8.99 pct

The online media company’s revenue soared 43 percent in the fourth quarter as its Weibo messaging service more than doubled advertising sales despite strong competition from Tencent Holdings Ltd’s WeChat. Sina Weibo has hired investment banks for a $500 million U.S. IPO later this year, a source told Reuters on Monday.

** XPO LOGISTICS INC, $29.69, +7.22 pct

The company’s quarterly revenue more than doubled as it placed more freight with other carriers and shipped a higher number of quick delivery packages.

** RIO TINTO, $56.77, -3.37 pct

said it has suspended bauxite mining at its Gove operations in Australia on Tuesday following the death of a worker, who was fatally injured while performing maintenance work.

** XOMA CORP, $9.1096, +2.93 pct

The company’s experimental drug for treating a type of painful skin ulcers was granted an orphan drug status by the U.S. Food & Drug Administration, ensuring the drug marketing exclusivity of seven years in the United States. The designation is granted by the FDA to drugs or biologics that treat a condition affecting less than 200,000 Americans.

** FIFTH & PACIFIC COS INC, $31.91, +1.43 pct

The company’s revenue jumped 22 percent in the holiday quarter as its trendy kate spade handbags proved a hit with shoppers. The company said net sales of its Kate Spade division surged 48 percent to $256 million in the fourth quarter ended Dec. 28, while same-store sales rose 30 percent. (Compiled by Shailaja Sharma in Bangalore, Editing by Don Sebastian)

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