May 7, 2014 / 3:23 PM / 4 years ago

MARKET PULSE-AOL, Whole Foods, Corcept, Aegerion, Quantum Fuel

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks were little changed on Wednesday, but the Nasdaq slid for a second day, dragged lower by weakness in Internet shares. The Dow Jones industrial average rose 13 points, or 0.08 percent, to 16,414.02, the S&P 500 lost 1.13 points, or 0.06 percent, to 1,866.59 and the Nasdaq Composite dropped 41.753 points, or 1.02 percent, to 4,039.006.

** AOL INC, $33.74, -23.14 pct

AOL reported a rise in first-quarter revenue on Wednesday, boosted by a surge in advertising sales through its automated electronic exchange, but profit fell.

** WHOLE FOODS MARKET INC, $38.745, -19.20 pct

** SPROUTS FARMERS MARKET INC, $27.19, -12.54 pct

Whole Foods cut its 2014 same-store sales and earnings forecast for the third time amid rising competition in the natural and organic grocery sector that it dominates.

Shares of rival organic food seller Sprouts Farmers also fell on the news.

** CORCEPT THERAPEUTICS INC, $2.005, -50.12 pct

The company said it would stop a late-stage trial of its drug for depression after an interim analysis suggested the study was unlikely to be successful.


The clean propulsion systems maker signed a long-term supply agreement with Ryder System Inc to supply compressed natural gas fuel storage tanks and module systems. Under the agreement, Ryder will buy CNG tank systems directly from Quantum and install them on CNG-powered vehicles.

** MONDELEZ INTERNATIONAL INC, $37.71, +7.07 pct

Mondelez and Dutch coffee and tea company D.E Master Blenders 1753 BV said on Wednesday they would combine their coffee businesses, as the U.S. company focuses on snacks such as Cadbury chocolate and Oreo cookies.

** OCLARO, $1.63, -38.72 pct

The company, which makes components used in optical fiber communication networks, reported a bigger-than-expected third-quarter loss, hurt by lower margins.

** PEGASYSTEMS INC, $19.13, +14.96 pct

The company, which provides customer and business management software, reported a better-than-expected adjusted first-quarter profit, helped by strong software license growth.

The company also said it acquired Bangalore, India-based MeshLabs Software Private Ltd, which makes social media and test analytics software.

** GENTIVA HEALTH SERVICES INC, $8.97, +15.74 pct

The home health and hospice services provider reported a better-than-expected profit for the first quarter, helped by higher revenue from its home health business and sales from its community care business.

“Gentiva’s results beat our estimates from top to bottom, helped by a very decent hospice performance on a consolidated basis for the first time in a long while,” CRT Capital analyst Sheryl Skolnick wrote in a note to clients.

The company also reaffirmed its 2014 forecasts for net revenue and adjusted income.

** GNC HOLDINGS INC, $36.54, -16.29 pct

The health supplements retailer on Tuesday reported first-quarter results that fell short of analysts’ estimates as extreme cold weather in parts of the United States hit same-store sales.

The company also cut its earnings forecast for the year.

** ZULILY, $32.245, -29.73 pct

The online retailer reported a quarterly adjusted loss of 2 cents per share. Analysts on average estimated a profit of 1 cent per share, according to Thomson Reuters I/B/E/S.


The technology outsourcing company forecast revenue of $2.50 billion to $2.53 billion for the second quarter, slightly below the average analyst estimate of $2.54 billion.

** ELECTRONIC ARTS INC, $32.7, +16.58 pct

** ACTIVISION BLIZZARD INC, $20.62, +6.78 pct

The two video game publishers posted quarterly profit and revenue that beat expectations on Tuesday, sparking a rally in their shares

** AEGERION PHARMACEUTICALS INC, $31.505, -28.66 pct

The company reported a wider-than-expected quarterly loss, hurt by an ongoing anti-corruption investigation in Brazil that impacted sales of its cholesterol-lowering drug, Juxtapid.

It also lowered its full-year net product sales outlook.

Deutsche Bank, which lowered its price target on the company’s stock to $70 from $115, said it would take “a couple of good quarters to turn investor sentiment back to positive”.

At least 4 other brokerages cut their price targets on the Aegerion stock.

** TRIMBLE NAVIGATION LTD, $32.565, -14.68 pct

The navigation software maker quarterly profit missed analysts’ expectations as a severe winter in North America hurt sales of its agriculture-related products.

** FIREEYE INC, $27.85, -24.99 pct

The cybersecurity company forecast a bigger loss this year as it spends more on developing new products.

** J.C. PENNEY CO INC, $8.58, +6.06 pct

UBS upgraded the stock of the department store operator to “neutral” from “sell”.

** WALT DISNEY CO, $81.43, +0.49 pct

The media company reported a higher profit that beat Wall Street expectations for the quarter ended in March, boosted by the continued strength of its blockbuster animated film “Frozen.”

** PFIZER INC, $29.06, -0.38 pct

Britain could use its public interest powers to intervene in U.S. drugmaker Pfizer’s $106 billion takeover bid for British pharmaceutical company AstraZeneca, Business Secretary Vince Cable said.

Separately, Pfizer sought to allay fears that its proposed takeover of AstraZenecawould deal a blow to drug research, saying the new company would bolster innovative science and speed the development of new treatments.

** HSBC HOLDINGS PLC, $50.56, -1.35 pct

The bank’s first quarter profits fell 20 percent from a year ago to $6.8 billion as revenue dipped at its investment bank, while last year’s earnings were swelled by asset sales.

** CHESAPEAKE ENERGY CORP, $28.81, +1.62 pct

The second largest U.S. producer of natural gas reported a sharply higher quarterly profit on Wednesday, helped by higher prices.

** ENCANA CORP, $23.93, +5.98 pct

Canada’s largest natural gas producer said it would buy $3.1 billion of assets in the oil-rich Eagle Ford shale basin in south Texas from Freeport-McMoRan Copper & Gold Inc FCX.N.

** ALLSTATE CORP, $57.62, +1.86 pct

The largest listed U.S. home and auto insurer reported a better-than-expected quarterly profit as it earned higher insurance premiums across its businesses.


The broadcaster narrowed its loss in the first quarter, boosted by higher revenue after advertisers in its biggest market the Czech Republic returned following a price reduction.

** HYDROGENICS CORP, $19.34, -9.79 pct

The Canadian fuel cell maker reported a bigger first-quarter loss, hurt by higher expenses and lower sales.

** DEVON ENERGY CORP, $70.6, +0.58 pct

** CIMAREX ENERGY CO, $129.9, +8.25 pct

Devon Energy said on Tuesday it acquired 50,000 acres and some production in the Cana-Woodford Shale in Oklahoma for $249 million in cash from Cimarex Energy.

** TD AMERITRADE HOLDING CORP, $30.51, -1.42 pct

** CHARLES SCHWAB CORP, $25.725, -0.37 pct

** E*TRADE FINANCIAL CORP, $21.09, -2.23 pct

The U.S. Securities and Exchange Commission has sent out subpoenas and demands for records to brokerage companies as part of a probe into how retail customers’ orders are routed, executed and filled, according to several people familiar with the matter.

** JIVE SOFTWARE INC, $7.52, +2.04 pct

The social media software maker reported a smaller-than-expected first-quarter loss on Tuesday and forecast higher revenue and a smaller loss for 2014.

** ARRIS GROUP INC, $28.71, +11.63 pct

At least six brokerages raised their price targets on the video and broadband products maker’s stock after the company reported better-than-expected first-quarter results on Tuesday.

** DATALINK CORP, $9.32, -26.79 pct

The company, which provides datacenter management services, reported worse-than-expected quarterly results due to a delay in closing of orders. The company said it expects the orders to materialize later this year.

Datalink also forecast second-quarter adjusted profit and revenue below analysts’ estimates.

** SABRA HEALTH CARE REIT INC, $28.695, -3.09 pct

The company said its common stock offering of 7 million shares is priced at $28.35 per share, a discount of 4 percent to the stock’s closing on Tuesday.

Sabra intends to use part of the net proceeds from the offering to fund potential acquisitions and repay certain outstanding debt.

** CANADIAN SOLAR INC, $26.33, -2.45 pct

The solar company estimated higher module shipments for the first quarter on Wednesday. The company now expects to ship 490-500 megawatts, up from its previous forecast of 470-490 MW. Canadian Solar is scheduled to report first quarter results on May 16.

** TALISMAN ENERGY INC, $10.85, +6.27 pct

Canada’s No.5 independent oil and gas producer posted a first-quarter profit, compared with a year-earlier loss, as oil and natural gas liquids production in North America soared 45 percent.

** RADIAN GROUP INC, $14.48, +3.06 pct

The biggest U.S. private mortgage insurer said it would buy loan review firm Clayton Holdings LLC for $305 million to boost its presence in the industry.

** CIMAREX ENERGY CO, $129.9, +8.25 pct

Four analysts have raised their price target on the oil and gas explorer’s stock after the company reported a better-than-expected first-quarter profit on Tuesday, boosted by a rise in production and higher prices.

Cimarex also raised its second-quarter production guidance.

Analysts at BMO Capital Markets, Morgan Stanley, Raymond James and Topeka Capital Markets raised their price target on Cimarex’s stock.

** MOLSON COORS BREWING CO, $61.51, +2.91 pct

The brewing company reported a better-than-expected pre-tax profit, driven by improved performance in all of its businesses and lower interest expense.

** WPX ENERGY INC, $22.19, +2.92 pct

The oil and gas producer reported a higher-than-expected profit for the first quarter due to an increase in the net realized average price for domestic natural gas sales.

The company also agreed to sell a working interest in certain of its wells in the Piceance Basin in Northwestern Colarado to Legacy Reserves LP in a deal worth $355 million.

Analysts at Howard Weil raised their price target on the stock to $24 from $22.

** GALENA BIOPHARMA INC, $2.57, +4.47 pct

The company on Tuesday reported higher-than-expected first-quarter sales of its breakthrough cancer pain drug, Abstral, and maintained its full-year sales forecast for the drug.

** FOREST OIL CORP, $2.24, +10.34 pct

Analysts at Morgan Stanley raised their rating on the company’s stock to “equal weight” from “underweight” after rival Sabine Oil & Gas LLC said it would buy Forest Oil, which is valued at about $213 million, in an all-stock deal.

The analysts also lifted their price target on the oil and gas producer’s stock to $2.50 from $1.50.

** PERCEPTRON INC, $10.88, +3.52 pct

The maker of non-contact measurement and inspection products to the automotive and manufacturing industries late on Tuesday reported third-quarter revenue that rose 17 percent, helped by strong sales of its automated systems in Asia. (Compiled by Natalie Grover; Edited by Maju Samuel)

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