May 21, 2014 / 2:03 PM / 4 years ago

MARKET PULSE-EBay, Target, Tiffany, Eaton Vance, American Eagle

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks opened modestly higher on Wednesday, with the S&P 500 on track to rebound from a broad selloff in the prior session, ahead of the release of minutes from the most recent meeting of the U.S. Federal Reserve. The Dow Jones industrial average was up 0.79 percent at 16,503.97, the S&P 500 was up 0.58 percent at 1,883.73 and the Nasdaq Composite was up 0.65 percent at 4,123.27.

** EBAY INC, $50.965, -1.91 pct

The e-commerce company said a database was compromised in a hacking attack between late February and early March, and clients’ non-financial information was stolen.

** TARGET CORP, $57.32, +1.25 pct

The retailer reported a 16 percent drop in first-quarter profit, but showed signs of progress in its efforts to rebuild customer confidence in the wake of a massive theft of payment card data and a botched expansion into Canada.

** TIFFANY & CO, $96.05, +8.86 pct

The retailer raised its full-year profit forecast after the company reported stronger-than-expected quarterly results as its increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market.

** EATON VANCE CORP, $37.43, +5.56 pct

The asset manager’s quarterly profit rose nearly 18 percent, as it earned higher fees from its investment advisory and administrative services.


The teen apparel retailer’s quarterly profit slumped 86 percent as it struggles to attract shoppers amid intense competition and weak demand.

** DYCOM INDUSTRIES INC, $30.35, -4.14 pct

The provider of engineering, construction and maintenance services reported lower revenue than a year earlier, hurt by fewer contracts in the quarter.

** FIRST MIDWEST BANCORP INC, $15.99, +1.98 pct

The bank holding company said it increased its quarterly cash dividend on its common stock by 14.3 percent to 8 cents per share.

** TRINA SOLAR LTD, $12.06, +16.41 pct

The Chinese solar company reported a quarterly profit compared with a loss a year earlier, helped by better prices for its solar panels, and it forecast higher shipments for the current quarter.

** NETFLIX INC, $378.24, +1.77 pct

The internet television network will launch its online movie and TV subscription service later this year in France, Germany and four other European countries, in a major push into new markets.

** RENEWABLE ENERGY GROUP, $10.2, +1.49 pct

** TYSON FOODS, $40.36, -0.69 pct

** SYNTROLEUM CORP, $3.37, +3.69 pct

The biodiesel producer agreed to buy Tyson Foods’ 50 percent ownership in Dynamic Fuels LLC for about $18 million in cash.

Under the terms of the agreement, a unit of Renewable will also offer about $35 million in future payments related to production volume at the Geismar biorefinery. Renewable will gain ownership of Dynamic on completion of its deal to buy Syntroleum Corp, announced in December 2013. Tyson and Syntroleum formed Dynamic Fuels as a joint venture in 2007.

** CITIGROUP INC, $46.98, +0.92 pct

The bank is looking to increase its market share in the U.S. mortgage market by buying home loans from other lenders, a top executive said on Tuesday.

** RIO ALTO MINING LTD, $1.74, -11.22 pct

The miner said it would buy Sulliden Gold Corp Ltd in a deal valued at about C$300 million ($275 million), creating a gold miner focused on Peru, the fifth biggest gold producer in the world.

** HERCULES OFFSHORE INC, $4.63, +6.19 pct

The offshore drilling company has signed a five-year drilling contract with Maersk Oil North Sea UK Ltd, valued at about $420 million.

Hercules will operate the rig in the Central North Sea, with the contract expected to begin in mid-2016.


The real estate investment trust said it planned to sell nearly all of its shopping centers to Blackstone Group LP for $1.98 billion in cash.


Goldman Sachs raised its rating and price target on the insurer’s stock to “buy”, saying that AIG is best placed among companies designated as Systemically Important Financial Institutions (SIFI) to use capital accretively into its core insurance businesses.

** FACEBOOK INC, $58.86, +0.51 pct

Facebook Inc is expanding its new video advertising service, allowing marketers to show the television-like spots to users of the social network in Britain, Brazil and five other countries, the company told Reuters.

** VIASAT INC, $56.16, -4.23 pct

The satellite broadband company’s fourth-quarter results missed analysts’ average estimate, hurt by higher spending on sales and research and development.

** EXXONMOBIL CORP, $101.32, +0.65 pct

The petrochemicals maker’s $19 billion liquefied natural gas project in Papua New Guinea, which is shipping its first cargo, is set to dramatically transform one of Asia-Pacific’s most unstable countries, for better or for worse.

** GOLDMAN SACHS GROUP INC, $158.87, +1.61 pct

The bank has begun a formal process to sell the metals warehousing business it purchased four years ago, a spokesman said on Tuesday, disclosing the first definitive effort to shed the operation amid regulatory and political pressure.

** ASTRAZENECA PLC, $74.05, +2.56 pct

** PFIZER INC, $29.43, +0.62 pct

Some leading AstraZeneca shareholders were at odds over whether the British drugmaker made the right decision in rejecting Pfizer Inc’s final $118 billion bid to buy the company.

** BHP BILLITON LTD, $68.677, +0.32 pct

The diversified natural resources company said it may seek government intervention to avert industrial action by tugboat workers at the Port Hedland iron ore port that threatens to disrupt hundreds of millions of dollars in exports.

** INVENSENSE INC, $18.44, +1.93 pct

The motion-sensor chip maker said on Tuesday that Chief Financial Officer Krock Alan sold 1,700 shares in the company, while Vice President of Invensense Lloyd Stephen also sold 1,500 shares. (Compiled by Ankit Ajmera in Bangalore; Editing by Simon Jennings)

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