February 25, 2014 / 6:44 PM / in 4 years

MARKET PULSE-BlackBerry, Intermune, Tesla, Vivus, Riverbed, Tekmira

(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 rose on Tuesday, with the S&P 500 moving within points of record levels, as a pair of retail stocks rallied following strong results. 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, $210.39, +5.41 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, $10.66, +8.44 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, $36.3013, +160.04 pct

The drug maker’s lead drug reduced the progression of a fatal lung disease in a late stage trial, inching closer to U.S. approval. The latest trial data brings the world’s biggest drugs market closer for InterMune’s pirfenidone, a medicine already in use in Europe, Canada and Asia.

** ZULILY INC, $59.502, +38.89 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.

** TESLA MOTORS INC, $253.11, +16.29 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.

** REALPAGE INC, $15.99, -22.83 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.

** PERRY ELLIS INTERNATIONAL INC, $13.17, -16.01 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.

** BLOOMIN’ BRANDS INC, $26.42, +15.07 pct

The operator of Outback Steakhouse and Carrabba’s Italian Grill chains reported better-than-expected quarterly results as same-store sales for company-owned domestic restaurants rose 1.4 percent, helped by higher menu prices and customer visits.

** CHART INDUSTRIES INC,$82.05, -8.87 pct

The cryogenic equipment maker reported fourth-quarter results below analysts’ average estimates due to lower sales of its storage products for liquid natural gas and biological tissue.

** LANTRONIX INC, $3.0101, +28.64 pct

Lantronix, which makes machine-to-machine connectivity products that enable data sharing between devices and applications, said it had developed firmware which will make the company’s products easily configurable to Google Analytics. Firmware is a chip that has data or programs recorded on it.


The concert promoter reported fourth-quarter revenue above analysts’ average estimate on Monday, driven by growth in its concerts and ticketing businesses.

Brokerage Sterne Agee & Leach raised its price target on the stock to $26.50 from $24.

** OFFICE DEPOT INC, $4.71, -11.96 pct

** STAPLES INC, $13, -2.91 pct

The office supply retailer reported a surprise quarterly loss and said it expected sales to continue to fall in 2014.

Shares of rival Staples also fell in premarket trading.


Leerink analysts raised their price target on the company’s stock to $14 from $10, saying its cancer drug, vosaroxin, was one of the most promising drugs being developed for acute myelogenous leukemia (AML). The analysts said positive data from two studies testing the drug for two forms of blood cancer could drive the Sunesis’ shares significantly higher.

** AIXTRON, $15.795, -6.26 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.

** RIVERBED TECHNOLOGY INC, $20.87, +5.14 pct

Hedge fund Elliott Management increased its offer for the network gear maker to $3.36 billion from $3.08 billion and said it was aware of other potential buyers that Riverbed had so far ignored. The new offer of $21 per share represents a 5.8 percent premium to the stock’s closing price of $19.85 on Monday.

** INFINITY PHARMACEUTICALS, INC., $15.96, +14.16 pct

The drug developer posted a smaller-than-expected loss in the fourth quarter, helped by lower research and development expenses. The company reported a net loss of $33 million, or 68 cents per share, in the quarter ended Dec.31. Analysts on average had expected 87 cents per share, according to Thomson Reuters I/B/E/S.


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.


The company’s technology showed highly potent drug delivery to the liver, tumors and other tissues, according to data it presented at a medical conference in Japan.

** VITAMIN SHOPPE INC, $44.58, +6.22 pct

The nutritional products retailer reported better-than-expected quarterly results, helped by a 4.6 percent jump in comparable retail store sales. The company also said it expected full-year comparable sales to grow in the low-to-mid single digit percentage range.

** APOLLO INVESTMENT CORP, $8.6, -6.01 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.

** SPECTRANETICS CORP, $28.178, +10.42 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.”

** VIVUS INC, $5.94, -12.00 pct

The company’s silence on its strategy to boost sales of obesity drug Qsymia has increased doubts about whether the pill will reach its full commercial potential. Analysts and investors had expected the company to address concerns that the drug, once seen as a potential blockbuster, has not lived up to expectations after 18 months on the market.

** JONES ENERGY INC, $15.01, -16.80 pct

The oil and gas producer said late on Monday that winter weather will hurt production in the first quarter of 2014. Analysts at Jefferies & Co said Jones’ production forecast and capex for 2014 came in below their forecast.

** STONE ENERGY CORP, $34.4, -6.09 pct

The oil and gas producer said output in the first quarter is likely to be 43.5-45 thousand barrels of oil equivalent (Mboe) per day, down from 50 Mboe it reported in the fourth quarter ended Dec. 31, as cold weather disrupts operations in the Appalachia region in U.S. North East.

** GULFMARK OFFSHORE INC, Monday close $42.5, +4.96 pct premarket

The offshore oil and gas services provider reported on Monday a fourth-quarter profit of 97 cents per share, compared with a loss of 19 cents a year earlier, riding on improved utilization and day rates, primarily due to increased drilling activity in the U.S. Gulf of Mexico.

** T-MOBILE US INC, $30.61, -5.26 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.

** AIRCASTLE LTD, $20.02, +4.93 pct

The aircraft leasing company reported fourth-quarter results that beat analysts’ average estimates as lease rental and finance lease revenue rose 7 percent. The company reported adjusted earnings of 68 cents per share on revenue of $192 million. Analysts on average had expected a profit of 27 cents on revenue of $172.6 million.

** ULTRA PETROLEUM CORP, $24.65, -4.09 pct

** WPX ENERGY INC, $17.82, -3.41 pct

** CABOT OIL AND GAS CORP, $35.42, -0.65 pct

** RANGE RESOURCES CORP, $86.55, -1.12 pct

Shares of natural gas producers fell as U.S. natural gas futures slid more than 10 percent early Tuesday, making the biggest two-day fall in 11 years as traders took profits amid extremely volatile trade ahead of contract expiration. The futures dropped 11 percent on Monday, continuing a trend of large price swings this winter.

** MCEWEN MINING INC , $3.07, -1.92 pct

** COEUR MINING INC, $11.14, -3.80 pct

** HECLA MINING CO, $3.5, -1.96 pct

Silver prices, which hit their highest since Oct. 31 at $22.16 an ounce on Monday, fell about 1 percent to $21.78.

** BIOCRYST PHARMACEUTICALS INC, $12.7401, +9.73 pct

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, $56.13, +5.79 pct

The department store chain on Tuesday said sales this year were weak until Valentine’s Day, but it stuck to its full-year forecast because it expects business to return to normal when the weather improves.

** ROSETTA RESOURCES INC, $43.27, -8.42 pct

Analysts at Howard Weil downgraded the oil and gas producer’s stock to “sector outperform” from “focus stock” and cut their price target to $65 from $72, saying the company did not give any meaningful well drilling results. Rosetta Resources reported a better-than-expected profit for the fourth quarter late on Monday, helped by increased production and higher oil and gas prices.

** KINDRED BIOSCIENCES, $24.9, +12.57 pct

BMO Capital Markets analyst Alex Arfaei upgraded the company’s stock to “outperform” from “market perform,” based on higher expectations for its experimental treatment for a chronic, relapsing allergic skin disease that affects about ten percent of dogs.

** LUMOS NETWORKS CORP, $16.37, -11.47 pct

The company, which provides fiber optic-based broadband services in the U.S. Mid-Atlantic region, reported fourth-quarter results below average analyst estimates, and forecast first-quarter and full-year revenue below analysts’ expectations.

** TENET HEALTHCARE CORP, $43.31, -10.39 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, $69.41, -8.77 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, $30.01, +8.38 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.

** POLYPORE INTERNATIONAL INC, $33.66, +13.60 pct

Brokerage Wedbush Securities Inc raised its rating on the microporous membrane maker’s stock to “outperform” from “neutral,” saying there was significant value in Polypore’s lithium business and the poor show by its management could open the door to either an acquirer or activist investor.

** DARA BIOSCIENCES INC, $3.1, +23.51 pct

The specialty pharmaceuticals company said the U.S. Food and Drug Administration granted an orphan drug designation to its experimental drug for treating severe pain related to nerve damage in cancer patients undergoing chemotherapy. The intravenous drug, currently in mid-stage clinical development, was granted a fast-track designation by the FDA in 2011.

** HOME DEPOT INC, $80.11, +2.88 pct

Winter storms and record cold in much of the United States hurt Home Depot’s fourth quarter sales of everything from lumber to building materials. But the world’s largest home improvement chain expects to benefit this spring when Americans begin to repair snow damaged homes and gardens.

** TOLL BROTHERS INC, $38.48, +0.37 pct

The largest U.S. luxury homebuilder reported a fall in quarterly orders for the first time in three years as a severe winter deterred buyers. The company also cut the top-end of its 2014 estimate for finished homes to 5,850 from 6,100.

** SEADRILL LTD, $35.56, -5.63 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.

** PROCERA NETWORKS INC, $11.95, -3.24 pct

Deutsche Bank initiated coverage on the stock with a “sell” rating, sounding a cautionary note on the 2014 and 2015 growth rate prospects of the company’s business that monitors network traffic, optimizes bandwidth, spots security threats for mobile and broadband network operators as well as for educational institutions, businesses and government bodies.

** EXTERRAN HOLDINGS INC, $38.06, +4.27 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.

** 8X8 INC, $10.58, +6.65 pct

** PROSPECT CAPITAL CORP, $11.05, -2.81 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, $58.65, +2.97 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.

** RIO TINTO, $57.04, -2.91 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, $9.16, +3.50 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, $34.15, +8.55 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.

** DOMINO‘S PIZZA INC, $74.55, -0.19 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 drew customers.

** ELI LILLY AND CO, $58.44, +0.71 pct

** NOVO NORDISK, $74.75, -1.57 pct

An experimental once-weekly medicine for type 2 diabetes developed by the drugmaker proved as effective in lowering blood sugar as Victoza from Danish drugmaker Novo Nordisk in a late-stage study. The Lilly drug, dulaglutide, achieved the primary goal of the 599-patient study by demonstrating so-called non-inferiority to the highest approved dose of Victoza after 26 weeks.

** WALT DISNEY CO, $80.51, -0.27 pct

The media company has launched Disney Movies Anywhere, a service for consumers to buy and watch Disney, Pixar and Marvel films online and store them in the cloud, in the latest bid by a Hollywood studio to encourage digital movie purchases.

** CARA THERAPEUTICS INC, $14.87, +2.69 pct

Canaccord Genuity, Piper Jaffray and Stifel Nicolaus started coverage on the pain drug developer’s stock with high ratings. “We believe Cara is developing the most promising opioid for the post-operative pain market, with the benefit of avoiding traditional opioid side effects,” analysts at Stifel wrote in a note to clients. They started coverage on Cara’s stock with a “buy” rating.

** ARCHER DANIELS MIDLAND CO, $40.63, +1.17 pct

The company on Tuesday said its chief executive officer will give up the title of president to the agribusiness company’s chief operating officer, effective immediately. Juan Luciano, who has been COO since 2011, will take on the role of president from Patricia Woertz, who had held the titles of CEO and president since 2006, according to a statement. Luciano will continue to be COO and to report to Woertz.

** COMPUTER TASK GROUP INC, $15.5, -2.94 pct

The IT services provider reported lower-than-expected fourth-quarter results due to lower revenue from its healthcare business as large hospitals were affected by a 2 percent cut in Medicare reimbursements. The company also forecast first-quarter results below analysts’ expectations.

** AK STEEL HOLDING CORP, $6.17, -2.53 pct

The steelmaker reported an outage at its blast furnace in Ashland, Kentucky. AK Steel will use its Butler electric arc furnace in Pennsylvania and Middletown blast furnace in Ohio until the Ashland furnace was repaired, the company said in a regulatory filing on Tuesday. (Compiled by Shailaja Sharma in Bangalore, 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