April 8, 2014 / 2:02 PM / in 4 years

MARKET PULSE-Gigamon, James River, Nokia, A. Schulman, JinkoSolar

(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 mostly flat on Tuesday, with the S&P 500 stabilizing after a three-session selloff as investors looked ahead to the start of corporate earnings season. The Dow Jones industrial average was down 0.15 percent at 16,221.79, the S&P 500 was unchanged at 1,845.03 and the Nasdaq Composite was up 0.21 percent at 4,088.502.

** GIGAMON INC, $18.48, -29.47 pct

The company, which makes network traffic management software, estimated lower-than-expected first-quarter revenue, blaming cancellation of a large contract and delays in closing some contracts.

** JAMES RIVER COAL CO, $0.3313, -53.69 pct

The company filed for Chapter 11 bankruptcy protection after struggling with a steep drop in prices and demand for both thermal and steel-making coal.

** BLACKBERRY LTD, $7.97, +1.40 pct

A federal jury in Florida on Monday ruled in favor of BlackBerry in a lawsuit accusing the company of infringing three patents belonging to Dutch semiconductor company NXP BV.

** LIVEPERSON INC, $10.51, -5.74 pct

Brokerage Benchmark Co cut its rating on the chat software provider’s stock to “hold” from “buy” after the company reaffirmed its earnings guidance for the year ending Dec. 31.

** NOKIA OYJ, $7.58, +4.99 pct

Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft , it said late on Tuesday. The company expects the deal to close in April.

** A SCHULMAN INC, $36.54, +0.61 pct

The specialty chemical maker raised its full-year profit outlook, topping the average analyst expectation, citing strengthening demand in Europe and stable raw material prices.

The company also said it would buy back up to $55 million of its common stock in the open market or in privately negotiated transactions. The company, which posted a better-than-expected quarterly profit on Monday, said the buyback program will take place over three years.

** QUNAR CAYMAN ISLANDS LTD, $27.9, +3.72 pct

** CTRIP.COM INTERNATIONAL LTD, $53.7996, +7.06 pct

Qunar Cayman Islands, the operator of Baidu Inc’s travel website, is in talks with Ctrip.com for a merger or partnership, Bloomberg reported, citing two people familiar with the matter.

** CISCO SYSTEMS INC, $22.7, -0.66 pct

Wunderlich Securities downgraded the networking equipment maker’s stock to “hold” from “buy” and cut its price target to $24 from $25, citing lowered expectations for the company’s products.

“We came away from industry interviews in recent weeks with the view that the market has less interest in the Cisco product suite than in past transitions. We see the range of alternatives for network automation/software defined networking (SDN), network function virtualization (NFV), and cloud services as dilutive to the Cisco installed base upgrade opportunity,” analyst Matthew Robison said in a note.

** JINKOSOLAR HOLDING CO LTD, $28.84, +5.64 pct

The Chinese solar company said it had signed a deal with PROINSO India to distribute its solar modules in India using the latter’s sales network.

** ELI LILLY AND CO, $58.65, +0.05 pct

Eli Lilly, Takeda Pharmaceutical Co Ltd’s co-defendant in a case alleging that Japan’s largest drugmaker had concealed cancer risks associated with its Actos diabetes drug, was ordered by a U.S. federal jury to pay $3 billion in punitive damages.

** ALKERMES PLC, $43.6425, +6.19 pct

The company said its experimental drug to treat the symptoms of schizophrenia met the main goal of reducing the severity of symptoms of the disease in a late-stage study.

** FORD MOTOR CO, $16.02, +0.50 pct

Ford and its Chinese joint ventures sold 103,815 vehicles in China in March, up 28 percent from a year earlier, the U.S. automaker said on Tuesday.

** GENERAL MOTORS CO, $33.95, -0.47 pct

The company, which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Monday.

** WAL-MART STORES INC, $77.54, +0.30 pct

The world’s largest retailer plans to open 50 additional wholesale stores in India over the next 4-5 years, company spokesman Anthony Rose said on Tuesday.

** CHINA MING YANG WIND POWER GROUP LTD, $2.64, +2.72 pct

The turbine manufacturer’s fourth-quarter revenue fell about 40 percent, mainly due to the lower number of wind turbine generators commissioned. Quarterly loss widened from a year earlier as selling and administrative expenses soared.

** PLUG POWER INC, $6.98, +3.56 pct

Chief Executive Andrew Marsh told Bloomberg in an interview that the fuel cell maker was discussing plans to expand fuel cell usage into different areas like for airport support vehicles and refrigerated tucks, while expanding presence with trucks and forklifts, according to StreetInsider.com. (r.reuters.com/nuv38v) (Reporting by Abhirup Roy in Bangalore; Editing by Maju Samuel)

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