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U.S. stocks opened flat on Wednesday as investors found few reasons to keep buying after a rally that has taken indexes to repeated records even as there was little seen on the horizon that could derail the rally. The Dow Jones industrial average was down 0.01 percent at 17,104.45 and the S&P 500 was down 0.04 percent at 1,999.21.
** TUBEMOGUL INC, $12.898, +39.89 pct
The software company reported second-quarter revenue of $28.7 million, above the average analyst estimate of $24.7 million, on strong demand for its video advertising software. The company also sees 2014 total revenue of $98-$102 million, above analysts’ average estimate of $91.7 million
** SMITH & WESSON HOLDING CORP, $11.55, -11.83 pct
** STURM RUGER & CO INC, $49.04, -3.90 pct
Smith & Wesson forecast a second-quarter profit below analysts’ estimates and cut its 2015 profit and revenue forecast, citing industrywide high inventories and weak consumer buying during summer.
CRT Capital analysts said Sturm Ruger’s revenue could fall more dramatically than Smith & Wesson’s. The brokerage cut its rating on the Sturm Ruger stock to “fair value” from “buy” and slashed its price target to $55 from $75.
At least four brokerages, including CRT and Cowen and Co, cut their price target on Smith & Wesson’s shares.
** YINGLI GREEN ENERGY HOLDING CO LTD, $3.23, -9.27 pct
The Chinese solar company reported a bigger-than-expected quarterly loss and cut its forecast for 2014 panel shipments as demand begins to falter due to U.S. duties on China- and Taiwan-made solar products.
** ARUBA NETWORKS INC, $21.17, +4.59 pct
At least two brokerages upgraded the network gear maker’s stock and five others raised their price targets to up to $28. Analysts said Aruba is benefiting from “strong adoption” of Wi-fi products, compared with rivals such as Cisco Systems Inc
** TIFFANY & CO, $103.28, +2.49 pct
The upscale jeweler raised its full-year profit forecast for a second time following a better-than-expected quarterly profit, driven by strong sales in the Americas and Asia-Pacific regions.
For a graphic: link.reuters.com/saj72w
** SEADRILL LTD, $36.75, -2.44 pct
The world’s biggest offshore driller by market capitalisation reported second-quarter earnings below forecasts on Wednesday and offered a cautious outlook for the rig market.
** RADIOSHACK CORP, $0.9389, +9.17 pct
The retailer’s second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy, Bloomberg reported, citing people with knowledge of the matter.
** VIMICRO INTERNATIONAL CORP, $4.1194, +17.70 pct
The China-based provider of audio and video signal processing chips for cameras in PCs reported second-quarter revenue and profit above analysts’ average estimates, boosted by higher demand for its video surveillance products.
** EXPRESS INC, $16.26, +11.45 pct
The apparel retailer reported a profit of 8 cents per share for the second quarter, compared with the average analyst estimate of breakeven on a per-share basis. The company also raised its full-year profit forecast to 85-95 cents per share from 74-90 cents.
** TALISMAN ENERGY INC, $10.31, -3.55 pct
Spanish energy company Repsol SA’s talks to buy Canadian producer Talisman Energy are in difficulty, three sources familiar with the matter said, with Talisman’s North Sea assets the stumbling block.
** TETRA TECHNOLOGIES INC, $11.69, +3.00 pct
Cowen and Co analysts raised its rating on the oilfield services company’s stock to “outperform” from “market perform”.
Tetra’s master limited partnership, Compressco Partners LP, said in July it would buy natural gas compression provider Compressor Systems Inc for $825 million. Cowen and Co analysts termed the acquisition a “game changer”.
The brokerage also raised its price target on the stock to $16 from $14.
** AEGERION PHARMACEUTICALS INC, $31.93, +3.10 pct
The drugmaker said it resolved concerns raised in a warning letter by the U.S. FDA related to its cholesterol drug, Juxtapid (Compiled by Rohit T.K. and Lehar Maan in Bangalore; Edited by Maju Samuel)