April 8, 2014 / 3:13 PM / 4 years ago

MARKET PULSE-OBA Financial, InterCloud, James River, Nordic American

(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 were little changed on Tuesday, in the wake of a three-session selloff, as investors look to the start of corporate earnings season. The Dow Jones industrial average was up 0.19 percent at 16,276.54, the S&P 500 was up 0.28 percent at 1,850.16 and the Nasdaq Composite was up 0.78 percent at 4,111.376.

** JAMES RIVER COAL CO, $0.3458, -51.66 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.

** GIGAMON INC, $18.13, -30.80 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.

** SPECTRANETICS CORP, $23.7, -9.23 pct

The medical device maker estimated revenue of $39.6 million for the first quarter ended March 31, lower than the Thomson Reuters I/B/E/S estimate of $41.4 million. The company also lowered its 2014 revenue forecast.

Analysts at Canaccord Genuity and Needham cut their price target on the company’s stock to $30 from $35.

** NORDIC AMERICAN TANKER LTD, $8.51, -10.04 pct

The tanker company priced its public offering of 12 million shares at $8.62 per share, a discount of 8.9 percent to the stock’s close on Monday.

** INTERCLOUD SYSTEMS INC, $6.0824, -21.42 pct

The company, which provides engineering, construction, maintenance and installation services to telecommunications providers, reported a bigger fourth-quarter loss as it incurred a $13.7 million charge related to derivative liabilities.

** OBA FINANCIAL SERVICES INC, $22.7, +23.26 pct

** FNB CORP, $13.26, -0.90 pct

FNB Corp will acquire OBA Financial Services in an all-stock transaction of $94 million, or about $23.56 per share.

OBA shareholders will receive 1.781 shares of FNB for each OBA share. The exchange ratio is fixed and the transaction is expected to qualify as a tax-free exchange for OBA shareholders.

** NOKIA OYJ, $7.76, +7.48 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.

** QUNAR CAYMAN ISLANDS LTD, $29.36, +9.15 pct

** CTRIP.COM INTERNATIONAL LTD, $54.52, +8.50 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.

** JINKOSOLAR HOLDING CO LTD, $29.25, +7.14 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.

** LIVEPERSON INC, $10.75, -3.59 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.

** ALKERMES PLC, $42.65, +3.77 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.

** AMERICAN AIRLINES GROUP, $35.15, -1.76 pct

The carrier on Tuesday said flight cancellations because of bad weather hurt first-quarter results. It canceled more than 34,000 flights in the first three months of this year, reducing quarterly revenue by about $115 million and operating profit by about $60 million.

** PETROQUEST ENERGY INC, $5.39, -2.00 pct

The oil and gas company lowered its first-quarter production outlook on Monday due to deferrals in its West Delta 89 field in the Gulf Coast and the Woodford shale region.

** STARWOOD PROPERTY TRUST INC, $22.44, -3.23 pct

The commercial mortgage REIT said it would sell 22 million shares in a public offering raising about $496 million. Underwriters could buy an additional 3.3 million shares to cover over-allotment, if any. The company will use the proceeds to purchase commercial mortgage loans and assets.

** BLACKBERRY LTD, $8.111, +3.19 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.


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, $7.0001, +3.86 pct

** FUELCELL ENERGY INC, $2.295, +0.66 pct

Plug Power 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)

** MAIN STREET CAPITAL CORP, $31.33, -3.84 pct

The investment firm priced its public offering of 4 million common shares at $31.50 per share, a discount of 3 percent to its previous close. The company plans to use the net proceeds of about $121.4 million for debt repayment, operating expenses and other general corporate purposes.

** BANCO BRADESCO SA, $15.31, +2.96 pct

Borrowing costs in Brazil, as measured by lending spreads, are unlikely to decline until the central bank lowers its benchmark interest rate, Banco Bradesco Chief Executive Luiz Carlos Trabuco said on Monday, adding that the bank’s loan book growth is rising more than expected.

JP Morgan raised its target price on the lender’s stock to $14 from $12, while maintaining a “neutral” rating.

** MGIC INVESTMENT CORP, $8.43, +5.24 pct

The mortgage insurer said primary new insurance written in March rose 33.3 percent to $2 billion, compared with February. (Reporting by Abhirup Roy in Bangalore; Editing by Maju Samuel)

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