December 12, 2012 / 3:29 PM / 5 years ago

MARKET PULSE-Coinstar, Incyte, Hess, Central Garden, Wal-Mart, Inteliquent

Dec 12 (Reuters) - Some U.S. stocks on move on Wednesday:

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U.S. stocks rose for a sixth day on Wednesday as investors anticipated that the U.S. Federal Reserve will announce a fresh stimulus plan to support the economy at the end of a two-day monetary policy meeting. The futures for the S&P 500 were up 0.28 percent, the Dow Jones futures rose 0.27 percent and the Nasdaq 100 futures rose 0.14 percent.

** COINSTAR INC, $53.73, up 6 pct (1015 ET)

Verizon Communications Inc and Coinstar said they will launch their video rental service later this month. The joint venture that will combine the Redbox DVD rental kiosk business with an Internet video offering from Verizon would sell subscriptions starting at $8 per month for unlimted streaming, combined with four one-night credits for DVDs.

Northland Capital raised Coinstar’s rating to ‘outperform’ from ‘market perform’.

** INCYTE CORP, $16.51, down 7 percent (1012 ET)

Gilead Sciences Inc will buy Canada’s YM BioSciences Inc for about $465 million in cash to gain access to its experimental drug to treat myelofibrosis - a rare blood disorder.

Shares of Incyte, which already sells a myelofibrosis drug named Jakafi, fell on Gilead’s announcement.

** HESS CORP, $51.96, up 3 pct (1015 ET)

The oil and gas company said it had encountered 245 net feet of oil pay in an exploration well located in the Deepwater Tano/ Cape Three Points license, located offshore Ghana. Hess holds a 90 percent interest in the block, while the Ghana National Petroleum Corp holds the remaining 10 percent.

** ALPHA NATURAL RESOURCES INC, $9.41, up 3 pct (1014 ET)

Analysts at Tudor, Pickering, Holt & Co upgraded the coal miner’s stock to “accumulate”, citing the company’s improved liquidity position, cost control demonstrated this year and the debt restructuring effort underway.

** CENTRAL GARDEN & PET COMPANY, $10.34, down 12.7 pct (1005 ET)

The lawn, garden and pet supplies company forecast a weak first quarter, citing lower sales in its decor business and higher marketing costs.

** ELI LILLY & CO, $49.08, down 3 pct (1013 ET)

Eli Lilly plans to conduct a big new trial of its experimental Alzheimer’s disease treatment among patients with mild symptoms, keeping alive a drug that failed two earlier large studies among patients with mild to moderate Alzheimer‘s. The company said on Wednesday it decided, after talks with health regulators, not to seek U.S. approval of the drug, solanezumab, at least for now, based on data from the earlier trials.

** INTELIQUENT INC, $2.85, up 9 pct (1020 ET)

The network connectivity services provider said it settled a previously disclosed dispute with one of its largest customers relating to the termination of certain long distance traffic. As part of the settlement, Inteliquent will make a one-time payment of $9 million in December to this customer.


The drugmaker said U.S. regulators approved a supplemental new drug application for its drug Rescula in patients with open-angle glaucoma or ocular hypertension. The drug can now be used as a first-line agent or concomitantly with other topical ophthalmic drug products to lower intraocular pressure, Sucampo said, adding it would begin selling Rescula for the newer indication in the first quarter of 2013.

** CLEARWIRE CORP, $2.79, up 4 pct (1012 ET)

Sprint, the No. 3 U.S. cellular company, is in talks with Intel and Comcast to buy out their stakes in the U.S. wireless provider Clearwire, two people familiar with the matter said on Tuesday. Intel and Comcast own roughly 12.4 percent of Clearwire’s total shares outstanding, including publicly traded stock and Class B shares, according to a Clearwire filing.

** DUPONT, $44.63, up 2.15 pct (1010 ET)

The chemical maker on Tuesday boosted its 2012 forecast and announced a $1 billion stock buy-back, a positive sign that demand has begun to improve slightly for the company’s Kevlar, Corian and other products.

** WAL-MART STORES INC, $69.36, down 2.13 pct (1010 ET)

India’s government announced an inquiry into lobbying practices by Wal-Mart on Wednesday after a report that the giant retailer had pressed U.S. lawmakers to help gain access to foreign markets.


The upscale furniture retailer reports its first quarterly results after going public in November. Analysts say a recovery in the housing sector, increase in affluent consumer spending coupled with the after-effects of superstorm Sandy should benefit the company.

** AETNA INC, $46.24, up 3.96 pct (1006 ET)

The third-largest U.S. health insurer late Tuesday forecast higher operating earnings in 2013 and revenue growth of 9 percent as the health insurer’s medical plans add more members.

** CHESAPEAKE ENERGY CORP, $17.20, up 1 pct (1003 ET)

** ACCESS MIDSTREAM PARTNERS LP, $34.03, down 3 pct (1003 ET)

** WILLIAMS COS INC, $31.03, down 1 pct (1003 ET)

Chesapeake on Tuesday agreed to sell most of its remaining natural gas processing and gathering assets to Access Midstream Partners for $2.16 billion as it continues to sell assets to pay down its heavy debt load.

The sale was done in tandem with another transaction in which U.S. pipeline and energy infrastructure company Williams is paying $2.4 billion to buy a big stake in Access from private equity firm Global Infrastructure Partners (GIP). (Compiled by Garima Goel in Bangalore)

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