May 21, 2014 / 2:58 PM / 4 years ago

MARKET PULSE-EBay, Target, Tiffany, Solar stocks, Celsion Corp

(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 0.95 percent at 16,529.33, the S&P 500 was up 0.70 percent at 1,885.98 and the Nasdaq Composite was up 0.70 percent at 4,125.71.

** EBAY INC, $51.6, -0.69 pct

The e-commerce company said client identity information including emails, addresses and birthdays was stolen in a hacking attack between late February and early March.

** TARGET CORP, $57, +0.69 pct

Target Corp 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, $96.58, +9.46 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.

** TRINA SOLAR LTD, $12.77, +23.26 pct


** CANADIAN SOLAR INC, $23.37, +4.28 pct

** JINKOSOLAR HOLDING CO LTD, $24, +7.29 pct

** JA SOLAR HOLDINGS CO LTD $9.7198, +4.85 pct

** RENESOLA LTD, $2.52, +9.57 pct

China’s Trina Solar forecast higher shipments for the current quarter after reporting its third straight quarterly profit, helped by better prices for its solar panels.

The positive results lifted shares of its rivals. Solar companies are returning to the black as generous subsidies and rising demand in China and Japan lift them out of a four-year slump caused by weak panel prices.

** CELSION CORP, $3.28, +6.15 pct

The biotechnology company said it received regulatory clearance to start a late-stage study testing its cancer treatment, ThermoDox, at sites in Taiwan, Hong Kong, South Korea and Canada in patients with a type of liver cancer.

Celsion also plans on conducting trials for ThermoDox in Europe, and will discuss the trial design and strategy with the European health regulator this year, it said on Wednesday. ThermoDox is also being tested in other cancers.


The oil and gas producer said production had resumed at the West Rochelle W1 well.

The company also said that its Rochelle production would be optimized between the East and West Rochelle well in a few days.

** GLYCOMIMETICS INC, $7.34, +16.51 pct

The biotechnology company said on Tuesday that it received a $15-million payment from Pfizer Inc, as part of a collaboration for the development of their sickle cell disease drug.

Under the deal, Pfizer plans to initiate a late-stage trial for the drug, which will trigger an additional $20 million milestone payment to GlycoMimetics, upon the dosing of the first patient in the trial.


The Chinese wind turbine maker reported a much higher profit compared with a year earlier, due to a rise in production and growing demand for wind turbine generators in China.

** NAVIOS MARITIME HOLDINGS, $8.77, +5.66 pct

The dry bulk shipping company reported a first-quarter profit of one cent per share, beating analysts’ average estimate of a loss of 11 cents per share, according to Thomson Reuters I/B/E/S.

The company’s time charter equivalent rate per day - a key metric used to evaluate the performance of a vessel - rose 7.2 percent to $12,709 per day. Time charter, voyage and logistics business expenses fell to $51.2 million from $70 million.

** NATIONAL OILWELL VARCO INC, $83.14, +1.30 pct

The largest U.S. oilfield equipment provider said it would spin off its distribution business into a new company called NOW Inc on May 30. National Oilwell shareholders on record as of May 30 will get one NOW Inc share for every four National Oilwell shares they own.

JP Morgan analysts began covering of NOW Inc with an overweight rating and a price target of $39, saying the spinoff will unlock the value of an under appreciated business and provide direct access to capital to consolidate a fragmented industry.


The company, which provides management and technology consulting services to the United States government in the defense, intelligence and civil markets, reported a 9 percent fall in quarterly revenue as uncertainties around the U.S. federal budget weighed on demand.

The company’s fourth-quarter revenue fell to $1.40 billion from $1.55 billion year ago. For fiscal 2013, about 99 percent of the company’s revenue came from contracts with U.S. government agencies or other U.S. government contractors.

** EATON VANCE CORP, $37.06, +4.51 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, $29.93, -5.46 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, $15.89, +1.34 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.

** NETFLIX INC, $381.81, +2.73 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, $10.0745, +0.24 pct

** TYSON FOODS, $40.03, -1.50 pct

** SYNTROLEUM CORP, $3.4, +4.62 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.

** SEARS HOLDINGS CORP, $36.89, -2.79 pct

The department store chain Inc, whose parent, Sears Holdings Corp, is looking to sell its stake in the company, posted a much bigger first-quarter loss as a prolonged winter hurt sales.

** RIO ALTO MINING LTD, $1.79, -8.67 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, $4.54, +4.13 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, $59.31, +1.28 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, $55.84, -4.77 pct

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

** GOLDMAN SACHS GROUP INC, $159.59, +2.07 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, $75.02, +3.91 pct

** PFIZER INC, $29.57, +1.09 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.

** INVENSENSE INC, $18.63, +2.99 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.

** INTUIT INC, $77.07, +0.30 pct

The financial software developer cut its revenue and profit forecasts, saying it now expects a loss of 10-12 cents per share on revenue of $683 million-$713 million for its seasonally weak fourth quarter.

The company had previously forecast a loss of 2-4 cents per share on revenue of $710 million to $720 million. (Compiled by Ankit Ajmera in Bangalore; Editing by Simon Jennings)

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