November 28, 2012 / 4:24 PM / 5 years ago

MARKET PULSE-Universal Technical, Knight Capital, Fresh Market, Express

Nov 28 (Reuters) - Some U.S. stocks on the move on Wednesday:

(For the Morning News Call newsletter, For more market insights, including options activity, click on STXNEWS/US; for the day ahead newsletter,


U.S. stocks sharply pared losses after U.S. House Speaker John Boehner voiced optimism that Republicans could reach a deal with the White House to avoid year-end austerity measures. The Dow Jones industrial average was down 0.09 percent, The Standard & Poor’s 500 Index was down 0.19 percent and the Nasdaq Composite Index was down 0.20 percent.

** GREEN MOUNTAIN COFFEE ROASTERS INC, $28.95, up 19 pct (0930 ET)

The maker of the Keurig brewing system forecast quarterly and full-year earnings well ahead of analysts’ expectations, helped by an expanded lineup of single-serve coffee makers and drinks.

** UNIVERSAL TECHNICAL INSTITUTE INC, $9.62, down 20 pct (1035 ET)

BMO Capital Markets cut its rating on the for profit education provider’s stock to “market underperform” from “market perform” after the company reported quarterly results well below market expectations and forecast a fall in new student enrollment and total revenue in 2013.

Barclays also slashed its target price on the stock to $1 from $8.

** KNIGHT CAPITAL GROUP, $2.97, up 16 pct (0934 ET)

Getco Holding offered to buy the securities firm for $3.50 per share, and said it has lined up $950 million of fully-committed financing for the deal.

** THE FRESH MARKET INC, $60.24, down 18 pct (0930 ET)

The specialty grocer reported a lower-than-expected quarterly profit and forecast full-year earnings largely below market expectations.

The company also said late on Tuesday that its Chief Financial Officer Lisa Klinger will resign, effective Dec. 7.

** EXPRESS INC, $12.99, up 12 pct (0930 ET)

Apparel retailer Express Inc reported a drop in third-quarter profit but forecast strong earnings for the current quarter as a tweak to its promotional strategy led to strong Black Friday sales.

** DATAWATCH CORP, $15.30, down 12 pct (1048 ET)

The company, which makes information management software for big companies, reported fourth-quarter revenue below analyst expectations after the bell on Tuesday.

** GULFPORT ENERGY CORP, $35.39, up 11 pct (0950 ET)

The oil and gas company said on Tuesday that its Shugert 1-12H well in central Belmont county, Ohio had an average sustained flow rate of 7,482 barrels of oil equivalent per day over a 48 hour period assuming no ethane rejection. The company also said it started operating a 60 million cubic feet per day refrigeration plant in Harrison County, Ohio.

“Positive news for Gulfport as they announced a very strong well and first sales through their gas processing complex in Harrison County,” analysts at Simmons and Co said in a note.

** IDENIX PHARMACEUTICALS, $5.00, up 11 pct (1033 ET)

Deutsche Bank initiated coverage on the stock with a “buy” rating saying a removal of the hold on the company’s hepatitis C drug by the U.S health regulators would represent an upside for its pipeline.

The brokerage said Idenix’s current share price did not reflect any value for its pipeline, and set a price target of $7 on the stock.

** GENETIC TECHNOLOGIES LTD , $2.14, down 14 pct (1002 ET)

The genetic test maker said at its annual general meeting on Tuesday that directors Greg Brown, Huw Jones and Mel Bridges had resigned from the board.

Bridges said it was regrettable that the company was unable to reach middle ground with a major shareholder, Genetic Technologies said in a statement.

** JOS A BANK CLOTHIERS INC, $42.92, down 9 pct (0956 ET)

The men’s apparel and accessories retailer reported a 11 percent drop in third-quarter net income, hurt by Hurricane Sandy which affected sales in the third quarter. The company reported earnings of 47 cents per share. Wall Street analysts estimated a profit of 56 cents per share, according to Thomson Reuters I/B/E/S. Comparable store sales also fell 4.8 percent in the quarter.

** TRINA SOLAR LTD, $2.49, up 9 pct (1052 ET)

** YINGLI GREEN ENERGY HOLDING CO, $1.52, up 7 pct (1052 ET)

** JA SOLAR HOLDINGS CO LTD, $69.5, up 7 pct (1052 ET)

Chinese solar panel makers Yingli and JA Solar joined rivals in saying that they would turn to their domestic market to drive shipment growth in the face of steep U.S. import duties and a slump in panel prices.

** CAI INTERNATIONAL INC, $21.18, down 9 pct (0949 ET)

The container leasing and management company said it will sell $70 million common shares and use the proceeds for general corporate expenses and to repay a portion of its senior secured revolving credit facility.

** ABIOMED INC, $13.39, down 9 pct (1044 ET)

Abiomed’s Impella heart devices may face risks as the Centers for Medicare and Medicaid Services was reviewing reimbursements on intra-aortic balloon pumps and paracorporeal ventricular assist devices, Northland Capital Markets analyst Suraj Kalia said.

The agency, which manages the Medicare and Medicaid program for the poor and elderly, updated its website on Tuesday indicating a review of these devices.

** AVEO ONCOLOGY, $7.40, up 8 pct (0932 ET)

The cancer therapeutics company said the U.S. health regulator accepted a marketing application for its experimental kidney cancer drug, and expects to take a decision by July 28, 2013. Aveo said the acceptance triggers a $15 million milestone payment under its development and commercialization agreement with Japan’s Astellas Pharma.

** MOVADO GROUP INC, $34.31, up 7 pct (1012 ET)

The watchmaker reported third-quarter results that trumped Wall Street estimates, helped by strong sales in its luxury and licensed brand business.

The company also said it will pay a one-time special dividend of 75 cents per share in December, to help investors avoid a paying higher tax on dividend income in January.

** W&T OFFSHORE INC, $16.42, down 6 pct (1008 ET)

The oil and gas producer narrowed its full-year production outlook to between 16.9 million barrels of oil equivalent (mmboe) and 17. 2 mmboe.

Earlier, the company had forecast full-year production to be between 17.1 mmboe and 17.8 mmboe.

** MERITOR INC, $3.94, down 6 pct (1025 ET)

The truck parts maker said it will offer senior unsecured notes, due in 2026, worth about $150 million at a discount.

** AMERICAN EAGLE OUTFITTERS INC, $19.39, up 6 pct (0931 ET)

Teen clothing retailer reported a higher third-quarter profit, helped by a jump in same-store sales, prompting it to raise its full-year earnings forecast for the second time this year.

** MERIDIAN BIOSCIENCE INC, $19.62, down 5 pct (1058 ET)

Wedbush Securities cut its rating on the diagnostic test kit maker to “underperform” from “neutral” citing potential competition from private molecular diagnostics company Great Basin.

Analyst Zarak Khurshid said he was hearing from industry sources that Great Basin, whose test to check for C.difficile infection was approved in July 2012, was gathering momentum.

“(Great Basin) is winning accounts based on its easy-to-use test, low price point and free system,” he said.

** AMERICAN SUPERCONDUCTOR CORP, $2.77, down 4 pct (1110 ET)

The power technology company said it laid off about a quarter of its workforce due to “challenging conditions” in the wind power market.

** ANN INC, $32.43, up 3 pct (0931 ET)

The parent of Ann Taylor and LOFT brands reported a third-quarter profit above market estimates and raised its outlook for fiscal 2012.


The specialty pharmaceutical company said it will sell 6.8 million shares of common stock and 2.7 million shares of convertible preferred stock at $4.21 per share. It will use the proceeds of about $40 million to fund a late-stage study of its experimental pain drug.

** RESEARCH IN MOTION LTD, $10.72, down 4 pct (0931 ET)

** NOKIA CORP ADR, $3.17, up 0.6 pct (0931 ET)

Research In Motion has lost a contract dispute over the use of Nokia patents in a case which could halt sales of its BlackBerry phones if it does not reach a deal to pay royalties to the Finnish company.

** COSTCO WHOLESALE CORP, $96.51, up 4 pct (0932 ET)

The U.S retailer will pay a special dividend of $7, worth a total $3 billion to investors, it said when posting monthly same-store sales that beat forecasts.

** CADENCE PHARMACEUTICALS INC, $3.95, up 1 pct (0932 ET)

The pharmaceutical company settled a patent litigation with generic drugmaker Perrigo Co for its pain drug, Ofirmev. Under the settlement terms, Perrigo can choose to market a generic version of Ofirmev after Cadence’s patent expires on Dec. 6, 2020.

** PVH CORP, $109.29, up 3 pct (1000 ET)

The clothing maker posted a bigger quarterly profit on Tuesday despite a slight drop in sales, as its higher margin Calvin Klein and Tommy Hilfiger businesses grew faster.

** NEWMONT MINING CORP, $47, down 2 pct (0932 ET)

Indonesia is considering whether to extend a divestment deadline for foreign mining companies beyond 10 years but no decision has been made, Chief Economic Minister Hatta Rajasa said on Wednesday.

Newmont, which operates in Indonesia, has been in talks with the Indonesian government. The divestment rule will hurt miners like Newmont, who have already spent potentially hundreds of millions of dollars on exploration.

** AK STEEL HOLDING, $3.79, up 4 pct (0933 ET)

Dahlman Rose upgraded its rating on the stock to “hold” from “sell” as it believes the company’s recent debt and equity issuance would remove near-term bankruptcy concerns. (Compiled by Maria Ajit Thomas in Bangalore)

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