June 3, 2014 / 2:03 PM / in 4 years

MARKET PULSE-Quiksilver, Hillshire Brands, Krispy Kreme, casino operators

(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 edged lower at the open on Tuesday after the S&P and Dow closed at a record high and ahead of data on April durable goods and factory orders. The Dow Jones industrial average was down 0.18 percent at 16,713.58 and the S&P 500 was down 0.12 percent at 1,922.57.

** QUIKSILVER INC, $3.24, -44.04 pct

The apparel and accessories retailer reported a bigger quarterly loss, hurt by lower wholesale sales in North America and Europe.

** PROSENSA HOLDING NV, $10.82, +2 pct

The company said the U.S. Food and Drug Administration had outlined a regulatory path for the accelerated approval of its lead drug. The drug, drisapersen, is being developed to treat Duchenne muscular dystrophy - a muscle-wasting disorder that affects one in every 3,500 newborn boys - that has no available cure.

** CLOVIS ONCOLOGY INC, $40.82, -14.51 pct

Brokerage Citigroup cut its rating on the drugmaker’s stock to “neutral” from “buy”. Clovis said on Monday that 22 percent of patients in an early stage study testing its experimental lung cancer drug experienced high-blood sugar severe enough to warrant treatment.

** PILGRIM’S PRIDE CORP, $25.76, -0.62 pct

** HILLSHIRE BRANDS CO, $58.28, +8.79 pct

** TYSON FOODS INC, $43.2, -0.46 pct

Pilgrim’s Pride Corp, the second largest U.S. chicken processor, raised its offer for Hillshire Brands, escalating a bidding war with Tyson Foods for the maker of Jimmy Dean sausages.

** KRISPY KREME DOUGHNUTS INC, $16.39, -13.74 pct

The company cut its full-year adjusted earnings forecast as recent management changes and technology upgrade weigh on costs, and reported lower-than-expected revenue for the first quarter.

** SPHERIX INC, $1.965, +8.56 pct

The intellectual property development company said it completed a $20 million financing. The funding is expected to help the company meet its contractual obligations for the remainder of 2014 and help fund growth.

** MGM RESORTS INTERNATIONAL, $25.39, -2.83 pct

** LAS VEGAS SAND CORP, $75.29, -2.76 pct


Macau, the world’s casino capital, raked in 32.35 billion patacas ($4.05 billion) in gambling revenues in May, but the growth of 9.3 percent lagged analyst estimates of 13-15 percent.

** GLADSTONE COMMERCIAL CORP, $16.9, -3.59 pct

The real estate investment trust said on Monday that it planned to sell shares in a public offering. The company intends to use the proceeds to fund pending and future property acquisitions, repay debt and for other general corporate purposes.

** SKYWORKS SOLUTIONS INC, $44.85, +4.13 pct

The maker of analog semiconductors raised its forecast for the third quarter due to rising demand. The company said it now expects adjusted profit Of 80 cents per share, up from its previous estimate of 73 cents. The company raised its revenue forecast to $570 million from $535 million.

** GUIDEWIRE SOFTWARE INC, $38.08, +3.17 pct

The company, which makes software for the property and casualty insurance industry, reported better-than-expected third-quarter results on Monday, helped by higher license revenue from new customer wins.


Needham & Co cut its rating on the power company to “hold” from “buy” after the company said late on Monday that Chief Executive Gerry Rogerson would step down. “We are surprised by the timimg of the announcement and are concerned that this news would impact AE’s business,” analyst Edwin Mok wrote in a note.

** AT&T INC, $35.36, -0.23 pct

The No. 2 U.S. telecom services provider raised its full-year revenue forecast for a second time, citing strong growth in its wireless business.

** G-III APPAREL GROUP, $79.31, +4.47 pct

The apparel designer and manufacturer reported a surprise first-quarter profit, helped by higher sales in its Vilebrequin brand and at several Calvin Klein divisions. The company also raised its forecast for revenue and net profit for the year ending January 2015.

** DOLLAR GENERAL CORP, $56.08, +3.28 pct

The discount chain stuck to its full-year profit forecast despite reporting a first-quarter profit below analysts’ estimates.

** PHH CORP, $23.8, -5.74 pct

Element Financial Corp has agreed to buy PHH’s auto fleet leasing business for about $1.4 billion in cash, and will issue $1.1 billion in capital to pay for the deal, the two companies said on Monday.


The oil and gas company’s Chief Executive Gary Evans said in an interview with CNBC’s Jim Cramer on Monday that the company has started selling some assets around North Dakota and would sell more non-core assets this month.

** YANDEX NV, $32.66, +3.13 pct

The Russian internet group may expand the limit of its share buyback program, following which it may consider paying dividends for the first time, Chief Financial Officer Alexander Shulgin said on Tuesday.

Compiled by Shubhankar Chakravorty in Bangalore; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below