May 7, 2014 / 6:38 PM / 4 years ago

MARKET PULSE-AOL, GasLog, Quantum Fuel, Hyperdynamics, Silver Spring

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks mostly rose on Wednesday, bouncing off earlier lows after comments from Federal Reserve Chair Janet Yellen offered no surprises, but the Nasdaq fell for a second straight day, weighed down by declines in Internet-related shares. The Dow Jones industrial average rose 92.48 points, or 0.56 percent, to 16,493.50. The S&P 500 gained 3.53 points, or 0.19 percent, to 1,871.25. The Nasdaq Composite dropped 42.892 points, or 1.05 percent, to 4,037.867.

** AOL INC, $33.64, -23.37 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, $38.635, -19.43 pct

** SPROUTS FARMERS MARKET INC, $26.3696, -15.18 pct

** FRESH MARKET INC, $31.955, -10.82 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.

Rivals such as Sprouts Farmers and Fresh Market also slumped.

** CORCEPT THERAPEUTICS INC, $2.02, -49.75 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.

** GASLOG PARTNERS LP, $26.38, +25.62 pct

Shares of the company, which owns and operates liquefied natural gas (LNG) carriers, rose as much as 27 percent in their trading debut. The company raised $176.4 million after pricing the IPO at $21 per share, at the upper end of its price range. (

** SILVER SPRING NETWORKS INC, $10.63, -30.61 pct

At least three brokerages lowered their price target on the energy management company’s stock after it lowered its full-year adjusted revenue forecast to $300-$330 million. The company had previously forecast growth of 5 to 8 percent on full year 2013 adjusted revenue of $344 million.

“The company lowered FY14 guidance to reflect a more cautious view of deployment schedules and the timing of new bookings,” analysts at Robert W. Baird & Co wrote in a note to clients.


The oil and gas explorer reported a bigger-than-expected first-quarter loss, hurt by a 56 percent rise in costs and production disruptions at three of its oil wells.

** MONDELEZ INTERNATIONAL INC, $37.98, +7.84 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.

** YAHOO INC, $34.335, -5.91 pct

The online search and advertising company’s shares fell on Wednesday after Chinese e-commerce giant Alibaba filed for an initial public offering on Tuesday which valued Alibaba at $116.1 billion, well below analysts’ consensus estimate of a valuation of $152 billion.

Analysts at BGC Partners and Atlantic Equities told Reuters that Alibaba’s valuation disappointed some Yahoo investors. Yahoo holds a 22.6 percent stake in Alibaba, of which it must sell more than a third through the IPO.

** OCLARO, $1.57, -40.98 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, $18.99, +14.12 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, $8.69, +12.13 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, $36.98, -15.28 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, $31.75, -30.81 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 said growth in its North America healthcare business would remain slow this quarter due to lower spending by customers adjusting to U.S. healthcare reforms.

** ELECTRONIC ARTS INC, $33.295, +18.70 pct

** ACTIVISION BLIZZARD INC, $20.73, +7.35 pct

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


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.

** REACHLOCAL INC, $7.41, -25.38 pct

The company, which provides online marketing services, forecast second-quarter and full-year revenue that fell short of analysts’ estimates.

J.P. Morgan cut its price target on the stock to $8 from $12, while First Analysis downgraded the stock to “equal weight” from overweight.”

** DATALINK CORP, $9.66, -24.12 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.

** TRIMBLE NAVIGATION LTD, $33.63, -11.89 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, $27.54, -25.83 pct

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

** J.C. PENNEY CO INC, $8.61, +6.43 pct

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

** CHESAPEAKE ENERGY CORP, $29.41, +3.74 pct

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

** ENCANA CORP, $23.53, +4.21 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, $57.95, +2.44 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, $19.8, -7.65 pct

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

** DEVON ENERGY CORP, $73.49, +4.70 pct

** CIMAREX ENERGY CO, $131.83, +9.86 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.

** JIVE SOFTWARE INC, $7.59, +2.99 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, $28.5, +10.81 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.

** SABRA HEALTH CARE REIT INC, $28.6599, -3.21 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.

** TALISMAN ENERGY INC, $10.92, +6.95 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, $14.83, +5.55 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, $131.83, +9.86 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, $61.93, +3.61 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, $21.94, +1.76 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, $2.575, +4.67 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, $2.3, +13.30 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, $10.71, +1.90 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.

** SOUFUN HOLDINGS LTD, $10.66, -8.18 pct

** E-HOUSE CHINA HOLDINGS LTD, $7.61, -8.75 pct

Chinese real estate portal SouFun forecast full-year revenue of $780-$796 million, missing analysts’ average estimate of $817.1 million.

Shares of competitor E-House China also fell on the news.

** ENPHASE ENERGY INC, $7.84, +12.81 pct

The renewable energy company reported a smaller-than-expected loss of for the first quarter. The company reported an adjusted loss of 10 cents per share, while analysts on average had expected a loss of 13 cents per share, according to Thomson Reuters I/B/E/S..

** MATADOR RESOURCES CO, $25.41, -6.96 pct

The oil and gas producer reported a lower-than-expected first-quarter profit on Tuesday as a result of higher costs and hedging-related losses.

** TRANSGLOBE ENERGY CORP, $7.27, -11.56 pct

The Canadian oil and gas company reported lower revenue for the first quarter, hurt by a decline in production from its wells in West Gharib, Egypt due to lower-than-expected drilling results and pump failures. Oil revenue fell 4 percent to $153.1 million in the quarter ended March 31.

** W&T OFFSHORE INC, $16.23, -12.74 pct

The oil and gas producer reported a 58 percent fall in first-quarter profit, hurt by a drop in production.

** NOVADAQ TECHNOLOGIES INC, $14, -15.15 pct

The medical imaging device maker reported a bigger-than-expected loss for the first quarter, hurt by a sharp rise in expenses. The company’s adjusted loss was 8 cents per share, 3 cents above the average analyst estimate, according to Thomson Reuters I/B/E/S.

** FIESTA RESTAURANT GROUP INC, $39.09, +5.36 pct

The restaurant operator reported a better-than-expected quarterly profit, helped by a 6.3 percent rise in comparable restaurant sales at its Pollo Tropical chain.

** CAESARS ENTERTAINMENT CORP, $21.0601, +13.47 pct

The casino operator said on Tuesday it would sell a 5 percent stake in its unit, Caesars Entertainment Operating Co, to institutional investors.

The company also said the unit was going to offer a new $1.75 billion first-lien debt and use the proceeds to redeem all of its existing 2015 maturities and to repay existing debt.

** TANDEM DIABETES CARE, $15.225, -8.28 pct

The medical device maker reported a bigger-than-expected first-quarter loss on Tuesday, hurt by higher operating expenses.


The drug developer on Tuesday reported a larger-than-expected loss for the first quarter, hurt by higher operating expenses.

** TORNIER NV, $19.24, +7.67 pct

The medical device maker on Tuesday reported better-than-expected results for the first quarter, helped by higher sales of its upper extremity joints and trauma products.

Tornier also raised its full-year constant currency revenue forecast.

BMO Capital Markets, Piper Jaffray and RBC Capital Markets raised their price targets on the company’s stock.


The company, which provides cash access products to casinos, reported a better-than-expected quarterly profit, helped by higher revenue from its cash access services to the gaming industry. Sterne Agee raised its target price on company’s stock to $11.50 from $10.50.


The insurer reported a stronger-than-expected quarterly profit as it earned higher commissions and fee income, and the company forecast full-year earnings above analyst’ estimates.

Revenue from commissions and fees rose 25 percent to $12.05 million in the first quarter ended March 31.


The provider of air cargo transportation services reported a higher-than-expected profit from continuing operation for the first quarter, partly helped by lower fuel cost.

** CDI CORP, $16.2, +9.53 pct

The provider of staffing services reported better-than-expected revenue for the first quarter, helped by a 1.7 percent increase in revenue from its professional staffing services business.

** STRAYER EDUCATION INC, $50.68, +18.27 pct

The for-profit education company reported a first-quarter profit that beat analysts’ average estimates as operating income margins rose marginally due to cost cuts.


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

Brokerage Evercore Partners raised its price target on the stock to $25 from $22.


Spain’s Telefonica said on Tuesday it had made a 725-million-euro ($1 billion) binding bid for a controlling stake in the pay-TV business of Promotora de Informaciones SA , the indebted local media group that publishes El Pais newspaper.

** 500.COM LTD, $29.7, -11.82 pct

The Chinese online sports lottery service provider reported a 7 percent fall in revenue for the first quarter. Revenue fell to 89.8 million yuan ($14.4 million) from the fourth quarter due to an 8-day suspension of sales of lottery products during the Chinese New Year holiday. Net income fell 68 percent to 27.5 million yuan. (Compiled by Natalie Grover; Edited by Maju Samuel)

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