November 25, 2014 / 6:34 PM / in 3 years

BUZZ-U.S. Stocks on the Move-Dycom, Douglas Dynamics, Brown Shoe

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks edged higher on Tuesday following a reading on economic growth that was much stronger than expected, but sharper gains were difficult to come by in a quiet week with major indexes at records. The Dow Jones industrial average was up 0.09 percent at 17,834.53 and the S&P 500 was up 0.08 percent at 2,071.06.

** SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES, $3.6127, +27.66 pct

The coal and coke processor says its aboveground plant for conversion of carbon dioxide into clean-burning syngas has achieved its initial production target of 25,000 cubic meters per hour. The company also said that gross revenue generated per day by facility is about $83,280, based on syngas price of $0.139 per cubic meter.

** DYCOM INDUSTRIES INC, $30, +14.50 pct

The engineering and construction contract services provider reported better-than-expected Q1 profit and Q2 earnings and revenue forecast largely above Wall Street estimates.

** REVOLUTION LIGHTING TECHNOLOGIES INC, $1.25, -14.97 pct

The LED bulb maker prices offering of 8 mln shares, or about 10 pct of total shares outstanding, at $1.25/share. The pricing is at a discount of 15 percent to the stock’s Monday close of $1.47. The company said it intends to use proceeds for general corporate purposes, including working capital and to finance possible acquisitions.

** DOUGLAS DYNAMICS INC, $24.69, +7.86 pct

The maker of snow and ice control equipment for light trucks said it will buy Henderson, which make similar equipment for heavy trucks, for $95 million. Henderson’s revenue visibility is higher as its purchase decisions “are generally pre-planned and less driven by near-term weather conditions,” Douglas Dynamics CEO James Janik said.

** BROWN SHOE CO INC, $31.04, +8.99 pct

The footwear maker raises full-year profit forecast for the third time. Posts better-than-expected sales, profit in Q3, which includes key back-to-school period, as wholesale sales rise 18.2 pct.

** BEACON ROOFING SUPPLY INC, $26.873, -7.65 pct

The distributor of roofing materials reports lower Q4 profit, hurt by fall in gross margins due to reduced selling prices.

** NUVERRA ENVIRONMENTAL SOLUTIONS INC, $11.22, +11.64 pct

The waste management company signed a contract with Exxon Mobil Corp’s unit to provide water-related pipeline services in McKenzie County, North Dakota. “We believe (the contract) is indicative of the transformation happening both in the region and at Nuverra’s operations,” Cowen & Co analyst Joseph Giordano wrote.

** CASEY‘S GENERAL STORES, $80.76, -8.09 pct

The convenience store chain operator said it will revise financial statements for fiscal years 2012-2014 and Q1 of fiscal year 2015, relating to a treatment of excise tax on ethanol following a change in the law governing ethanol blending credits. The company said that the aggregate impact is about $31.5 million, reducing EPS by about 4.5 cents in each of affected quarters.

** IDREAMSKY TECHNOLOGY LTD, $18.31, +8.99 pct

The Chinese mobile games distributor posted Q3 revenue that rose almost four-fold, helped by launch of more than ten games. Growth was also fueled by continued popularity of existing games and increase in user traffic.

** NETFLIX INC, $348.38, -2.27 pct

Stifel Nicolaus downgrades the streaming video service provider’s stock to “hold” from “buy”. “We remain positive on Netflix’ longer-term international opportunity, but think third-quarter results were a sign that investors are still focused on domestic subscriber growth in the near term. As a result, we view risk/reward as balanced at current prices,” analysts said.

** COEUR MINING INC, $4.635, +5.58 pct

** SILVER STANDARD RESOURCES INC, $5.96, +4.01 pct

** SEABRIDGE GOLD INC, $8.25, +4.04 pct

** KINROSS GOLD CORP, $2.91, +3.93 pct

Gold edges up to around $1,200 an ounce after better-than-expected U.S. economic growth data boosted the dollar only briefly and as the market looked to a Swiss referendum on central bank gold reserves for more trading cues. Silver prices were up nearly 1 percent.

** WORKDAY INC, $86.7, -6.26 pct

The maker of cloud-based human resources software forecast fiscal year 2016 revenue below market estimates and Q4 revenue forecast indicates growth of roughly 66-67 percent for the year ending January, much slower than 71 percent growth in fiscal 2014.

At least 6 brokerages, including Goldman Sachs, cut price target on the stok by as much as $10 to as much as $90; Median price target on stock is $100.

** DRAGONWAVE INC, $1.23, +14.95 pct

U.S.-listed shares, $1.08, +14.89 pct

The Canadian wireless networking equipment maker said that it receives orders worth more than $10 million for November from a North American mobile operator. The company said that it will provide the products to support the operator’s ongoing upgrade and expansion of a nationwide 4G/LTE network.

** QIHOO 360 TECHNOLOGY CO LTD, $75.98, +9.39 pct

The Chinese antivirus and mobile software maker expects Q4 revenue of $410-$415, above analysts’ average estimate of $405 million. The company reported better-than-expected Q3 profit and revenue on Monday as the number of monthly active users increased. The company said that the number of smartphone users of its key mobile security product reached 673 million, strengthening Qihoo’s leading position in internet security in China.

** E COMMERCE CHINA DANGDANG, $11.45, -7.74 pct

The Chinese online books and media retailer posted lower-than-expected Q3 profit, hurt by higher marketing expenses. The year-over-year and quarter-over-quarter increases in marketing expenses reflect increased investment in mobile advertising and new destination categories, company said. It also forecast Q4 revenue of about 2.5 billion yuan ($408 million), above analysts’ average estimate of $401.5 million.

** FRED‘S INC, $15.17, -10.29 pct

The discount store operator reported a bigger-than-expected Q3 loss. “...The third quarter was difficult as we aggressively cleared inventory, cut receipts of overstocked high-margin product, brought prices in line with competitors, and revamped the ad programs to drive traffic,” CEO Jerry Shore said.

** TIFFANY & CO, $107.28, +2.16 pct

The upscale jeweler reported eported a better-than-expected rise in same-store sales, mainly due to strong demand for high-end fashion jewelry in the Americas. The company’s new jewelry lines, such as the Atlas Collection and Tiffany T, have been popular with customers, particularly in the Americas. The stock rose to a record high of $110.60.

** GARMIN LTD, $57.47, -3.62 pct

Cleveland Research says it’s more cautious on the navigation device maker, following industry discussions indicating that outdoor business demand outlook is soft heading into Q4 and 2015, according to theflyonthewall.com.

** BROCADE COMMUNICATIONS SYSTEMS INC, $11.49, -1.71 pct

Wunderlich Securities cut its rating on the network equipment maker to “hold” from “buy”. Analyst Matthew Robison writes while the company had a solid performance in Q4, “the growth outlook is insufficient to offer meaningfully incremental valuation headroom”.

** YINGLI GREEN ENERGY HOLDING CO LTD, $2.87, -4.01 pct

The Chinese solar panel maker said it expects Q4 gross margin of 15-17 pct, down from 20.9 pct in Q3. The company also said it expects average selling price to decrease by 2-3 cents per watt from Q3 and posted a 7.5 pct fall in Q3 revenue to $551.5 million.

** NUANCE COMMUNICATIONS INC, $15.89, +3.79 pct

The voice recognition software maker reported a better-than-expected quarterly adjusted profit, helped by strong demand from healthcare clients. The company forecast an adjusted profit of $1.10-$1.20 per share on revenue of $2.02-$2.08 billion for 2015; analysts were expecting profit of $1.15 on revenue of $2.07 billion.

** POST HOLDINGS INC, $38.98, +5.07 pct

The packaged food maker reported better-than-expected Q4 profit and sales on Monday. The company expects to “meaningfully outperform” in year ending September, helped by synergies related to its acquisition of Michael Foods, lower dairy protein costs and strong growth for protein shakes.

** MOVADO GROUP INC, $27.73, +2.97 pct

The luxury watch designer increased share buyback plan to $100 million from $50 million. The company’s Q3 profit beat analysts’ average estimate by a cent, but sales fell short of expectations driven by a decline in the luxury brand category.

** XCERRA CORP, $8.15, -3.21 pct

The semiconductor test equipment maker said it expects revenue below analysts’ average estimate in a seasonally slow Q2. The company forecast Q2 adjusted loss of 4-9 cents, compared with a profit expectation of 13 cents, assuming 54.2 mln basic shares outstanding.

** PANDORA MEDIA INC, $18.78, -4.86 pct

FBR Capital Markets downgrades the online music streaming service provider’s stock to “underperform” from “market perform”, according to StreetInsider.com.

** BHP BILLITON LTD, $55.4, -1.21 pct

J.P. Morgan Cazenove cuts price target on the mining company’s London-listed stock to 2,050 pence from 2,080 pence after company slashed its capex guidance for 2015 by $600 million. The company’s move follows a significant fall in iron ore and oil prices in past few months.

** LEVEL 3 COMMUNICATIONS INC, $48.69, -2.72 pct

Macquarie Capital downgraded the communication services provider’s stock to “neutral” from “outperform,” saying that the stock is overvalued. Based on projected earnings growth, Level 3’s stock should be trading at its intrinsic value of $26.07, according to StarMine data.

** PALO ALTO NETWORKS INC, $119.15, +5.20 pct

The security software maker forecast current-quarter revenue and profit above analysts’ expectations, reflecting strong demand for its products as more companies look to guard their data and networks from hackers. The seller of firewalls that prevent data breaches and block malware and viruses also reported better-than-expected first-quarter revenue and profit on Monday.

** CYBERARK SOFTWARE LTD, $44.99, -4.30 pct

William Blair & Co downgrades the Israeli cyber-security service provider’s stock to “market perform” from “outperform”; Nomura Equity Research downgrades to “neutral” from “buy,” according to theflyonthewall.com. CyberArk can beat full-year revenue growth forecasts of about 42 pct, but growth may slow long term as it grows larger and the market becomes more penetrated, according to William Blair analysts.

** BOYD GAMING CORP, $12.39, +3.68 pct

Macquarie Research upgrades the gaming company’s stock to “neutral” from “underperform”, saying the company’s 2015 estimates remain “very achievable” after it guided down twice in the past year. Analysts say resiliency of discretionary income among baby boomers, recent fall in gas prices and significant free cash flow will help company. Cuts price target by $1 to $12.

** C&J ENERGY SERVICES INC, $19.3, +1.53 pct

** NABORS INDUSTRIES LTD, $15.9, -3.05 pct

A Delaware court has held up the merger of Nabors Industries Ltd’s unit with the oilfield services provider, saying C&J’s board did not adequately shop the company, the Wall Street Journal reported, citing people familiar with the decision.

** NXP SEMICONDUCTORS NV, $76.68, +0.66 pct

The company priced 5-year cash convertible senior notes, 1 percent coupon, 35 percent convert premium based on $76.18 last sale price of company’s common shares. The company intends to use proceeds to fund debt repayment and repurchase $250 mln of common stock.

** SUNGY MOBILE LTD, $6.04, -2.27 pct

The mobile internet product and service provider reported lower-than-expected Q3 profit, hurt by higher costs and lower margins. Revenue from mobile reading services also fell 28.4 percent due to fewer purchases of the company’s online literary content. (Compiled by Anya George Tharakan in Bangalore; Edited by Don Sebastian)

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