September 16, 2014 / 6:15 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-Bill Barrett, Silver Spring, Sinocoking

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stock indexes rose on Tuesday. The Dow Jones industrial average was up 0.73 percent at 17,155.12, the S&P 500 was up 0.87 percent at 2,001.39 and the Nasdaq Composite was up 0.74 percent at 4,552.567.

** APPLE INC, $100.43, -1.18 pct

The company's iPhone 6 and 6 Plus models may not make it to China until early 2015, said, citing a report from a Chinese business daily. (

Apple is yet to set a release date for China and its customers there may have to wait until year-end for the new phone, sources told Reuters last week.

** SIGA TECHNOLOGIES INC, $1.28, -11.11 pct

The drugmaker filed for voluntary bankruptcy protection on Tuesday and said the filing was to preserve its ability to supply its antiviral smallpox drug to the U.S. Strategic National Stockpile.


The diversified shipping company reported its first profitable fiscal year since its initial public offering in 2008. The company reported a net income of $1.6 million for the year ended June 30 compared with a year-earlier loss of $1.7 million.

** BILL BARRETT CORP, $23.61, +10.90 pct

The company said it would exchange most of its acreage in Wyoming’s Powder River Basin for oil-producing assets in Colorado, and also sell some natural gas assets in the state in transactions valued at $757 million.

** GLIMCHER REALTY TRUST, $13.735, +29.70 pct

** WASHINGTON PRIME GROUP, $17.16, -7.04 pct

** CBL & ASSOCIATES PROPERTIES INC, $18.58, +5.39 pct

Retail real estate investment trust Washington Prime said it would buy Glimcher Realty Trust in a cash-and-stock deal valued at about $4.3 billion, including debt.

Glimcher’s stock was the top percentage gainer on the New York Stock Exchange on Tuesday and was also among the most traded shares on the exchange.

Shares of CBL & Associates, another shopping center operator, also rose on the news.


The designer of chipsets for video and multimedia applications said it was exploring strategic options even as its efforts to return to profits take longer than expected. The company also cut its revenue forecast for the current quarter to $43 million from $49 million-$51 million.

** EAGLE ROCK ENERGY PARTNERS LP, $4.0555, -6.98 pct

The Nasdaq said on Monday that it would cancel all trades in Eagle Rock at or above $4.62 executed between 3.59 p.m. and 4.00 p.m. ET. The decision follows an investigation into potentially erroneous transactions.

** SILVER SPRING NETWORKS INC, $11.06, -6.67 pct

The provider of electrical grid products for utilities will incur pre-tax charges of about $3.5 million-$4 million, as part of a restructuring plan that is expected to reduce its global workforce. (


Stephens Inc raised its rating on the company’s stock to “overweight” from “equal weight,” according to Including Stephens, nine of 27 brokerages rate the stock “buy” or higher, 15 rate it “hold” and three rate it “sell” or lower.

** BANKRATE INC, $11.86, -0.50 pct

Shares of the company hit their lowest in 18 months after it said on Monday that the U.S. Securities and Exchange Commission was probing accruals and expenses worth over $1.5 million and that its chief financial officer had resigned.

Topeka Capital Markets cut its rating on Bankrate’s stock to “sell” from “hold”, citing the SEC probe.

** ABRAXAS PETROLEUM CORP, $5.8275, +12.28 pct

The company raised its third-quarter production forecast to 6,900-7,000 barrels of oil equivalent per day (boe/d) from 6,500-6,700 boe/d. The company also cut its operating cost forecast for the quarter due to lower lease operating expenses.


The biotech company’s experimental drug for brain tumors became the first medicine to be selected for fast-track designation under a new early-access scheme in Britain.

** SEARS HOLDINGS CORP, $30.89, -7.85 pct

The supermarket chain owner entered into a $400 million short-term loan agreement on Monday with annual base interest rate of 5 percent. The company’s total borrowings were $4.30 billion as of Aug. 2.

** TEEKAY TANKERS LTD, $4.26, +10.65 pct

** FRONTLINE LTD, $1.575, +5.70 pct

** DRYSHIPS INC, $3.01, +4.88 pct

** CAPITAL PRODUCT PARTNERS LP, $10.29, +2.39 pct

** DYNAGAS LNG PARTNERS LP, $23.385, +2.52 pct

** DIANA SHIPPING INC, $10.31, +2.79 pct

Deutsche Bank initiated coverage on 13 shipping companies’ stocks, rating nine stocks “buy” and four “hold”. The maritime shipping industry is on the cusp of entering a new era of prosperity, driven by improved supply and demand dynamics, increased fleet utilization, and abundant capital, Deutsche Bank analysts wrote in a note.

** TESLA MOTORS, $259.1499, +2.08 pct

Massachusetts’ highest court on Monday threw out a lawsuit seeking to block the company from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.

** ANALOGIC CORP, $67.55, -5.51 pct

The medical technology company reported lower-than-expected fourth-quarter revenue on Monday as sales of its medical imaging equipment fell 7 percent to $84.2 million.

Brean Capital cut its rating on the company’s stock to “hold” from “buy”.


The company said it would sell a stake in its natural gas gathering subsidiary in the Marcellus and Utica shale fields, to a unit of Morgan Stanley, giving the two co-ownership in the business valued at $1 billion.

** ARCH COAL INC, $2.79, -2.45 pct

** ALPHA NATURAL RESOURCES INC, $3.34, +1.21 pct

** WALTER ENERGY INC, $3.72, -3.38 pct

Nomura Group cut its rating on shares of coal companies, citing weak demand and prices for U.S. thermal coal. Nomura cut its rating on Arch Coal to “reduce” from “neutral” and slashed the price target on the stock to $1.50 from $3.


The company said the local government of Pingdingshan in China would give it a gas pipeline distribution network, gas storage system and 7.5 square miles of high-quality coal.

** WYNN RESORTS LTD, $178.97, -0.97 pct

** MGM RESORTS INTERNATIONAL, $22.66, -2.37 pct

** LAS VEGAS SANDS CORP, $61.03, -1.80 pct

Casino gaming operators’ shares fell as Wells Fargo said it expected the decline in Macau gaming revenue in September to be steeper than previously anticipated. Wells Fargo said it expected the percentage fall in Macau gaming revenue in September to be in mid-teens, steeper than the high-single to low-double digits percent decline expected earlier.

Gambling revenue in Macau fell for the third straight month in August as labor strikes and heightened regulation such as a smoking ban, due October, hurt the world’s biggest gaming hub.

** VIPER ENERGY PARTNERS LP, $27.65, -2.98 pct

The oil and gas producer’s shares fell to their lowest level since the company listed on June 18. The company’s offering of 3.5 million shares was priced at $28.50 per share, the same as the stock’s close on Monday.

The offering represents 4.5 percent of Viper Energy’s outstanding shares, a unit of Diamondback Energy Inc.

** NEKTAR THERAPEUTICS, $13.53, +0.00 pct

The U.S. Food and Drug Administration approved an oral therapy to treat opioid-induced constipation developed by the biotechnology company and UK-based drugmaker AstraZeneca Plc .

The drug will be sold under the trade name Movantik, and be launched in the first half of 2015, the companies said.

** BALLARD POWER SYSTEMS INC, $3.28, +4.46 pct

Sidoti & Co analysts raised their rating on the Canadian company’s stock to “buy” from “neutral”, according to Of the five brokerages covering the stock, two have a “buy” rating, one has a “strong buy” and two have a “hold” rating.

** ATLANTIC POWER CORP, $2.64, -30.71 pct

The power producer slashed its dividend by 70 percent and asked its chief executive, Barry Welch, to step down as part of a strategic review process.

** NII HOLDINGS INC, $0.0848, +2.17 pct

The parent of Nextel operators in Latin America filed for U.S. bankruptcy protection on Monday after struggling for years with debt, fierce competition in Brazil and Mexico, and a dispute with a U.S. hedge fund.

** VIMPELCOM LTD, $8.44, +0.72 pct

The mobile operator company and Egypt’s Global Telecom will sell their stakes in Wind Canada for 135 million Canadian dollars ($122 million), the two companies said in a statement on Tuesday. [ID: nL6N0RH0HH]

** CORINTHIAN COLLEGES INC, $0.0978, -30.04 pct

The U.S. consumer finance watchdog sued on Tuesday the for-profit education company for alleged predatory lending, saying that the company lured students into taking out private student loans by touting “bogus” job prospects and using illegal debt-collection methods. (Compiled by Amrutha Penumudi in Bangalore; Editing by Kirti Pandey)

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