January 16, 2013 / 6:13 PM / in 5 years

MARKET PULSE-Goldman Sachs, Dell, Chipotle, Genworth

Jan 16 (Reuters) - Some U.S. stocks on the move on Wednesday:

(For more market insights, including options activity, click on ; for The Day Ahead newsletter link.reuters.com/mex49s; for The Day Ahead newsletter r.reuters.com/hym35t)


U.S. stocks were little changed as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks. The Dow Jones industrial average was down 0.15 percent, The Standard & Poor’s 500 Index up 0.02 percent, and The Nasdaq Composite Index up 0.23 percent.

** GENWORTH FINANCIAL INC, $9.21, up 13 pct (0945 ET)

The company said it would take steps to distance itself from its troubled mortgage insurance business, following investor demands to spin off the unit.

** CHIPOTLE MEXICAN GRILL INC, 279.00, down 6 pct (0944 ET)

The burrito chain warned that food costs rose more than expected in the fourth quarter, leading it to forecast earnings below market expectations.

** ENERNOC INC, $14.74, down 6 pct (1005 ET)

Analysts at Raymond James downgraded the energy management company to “market perform” from “outperform”, saying that its stock offers little in the way of near-term upside following a 25 percent jump in price on Tuesday. The rally in the stock was sparked by a U.S. Environmental Protection Agency ruling, which ruled that diesel generators and similar hardware may be used for emergency demand response for up to 100 hours per year.

** CHRISTOPHER & BANKS CORP, $6.02, up 6 pct (0944 ET)

The women’s clothing retailer said its fourth quarter is likely to see a comparable store sales increase in the high teens, above its earlier forecast of a same-store sales increase in the high single to low double digits.

** ALNYLAM PHARMACEUTICALS INC, $21.28, up 6 pct (1016 ET)

The biopharmaceutical company said its public offering of 8 million shares has been priced at $20.13 per share.

** GOLDMAN SACHS GROUP INC, $138.1, up 2 pct (0944 ET)

The fifth-largest U.S. bank by assets paid a smaller portion of its revenue to employees in 2012 as it laid off staff, signaling that management at the top Wall Street bank may be ceding power to the shareholders who supply the capital.

The company is seeking a buyer for a majority stake of its $1.4 billion reinsurance group, according to a copy of its January presentation to potential buyers that was viewed by Reuters.

** BNY MELLON CORP, $25.75, down 3.8 pct (0942 ET)

BNY Mellon Corp said fourth-quarter earnings rose 23 percent, matching Wall Street estimates, boosted by higher investment management and performance fees at the world’s largest custody bank. Shares of the bank, though, fell as some analysts were disappointed with BNY Mellon’s trading revenue and expense management.

** CLEARONE INC, $6.60, up 48.98 pct (1226 ET)

The maker of audio and video conferencing products said UBS Financial Services Inc agreed to pay it $45 million after the two parties settled an auction-rate securities dispute.

** TTM TECHNOLOGIES INC, $7.78, up 5 pct (0938 ET)

The printed circuit board maker on Tuesday said it expects to report fourth-quarter revenue and profit “somewhat above the high end” of its earlier forecast. The company expects to earn 7 to 14 cents per share on revenue of between $360 million and $380 million. On an adjusted basis, it expects a profit of 14 to 21 cents per share.

** NORTHERN TRUST CORP, $50.44, down 4.6 pct (0942 ET)

The U.S. custody bank and wealth manager’s profit and revenue for the fourth quarter missed Wall Street estimates as the custody bank reported much lower foreign-exchange trading income and pressure on its net interest margin continued.

** DELL INC, $12.70, down 4 pct (0949 ET)

Argus Research Co downgraded the personal computer maker's stock to "hold" from "buy", streetinsider.com said. (r.reuters.com/ken35t)

** PERION NETWORK LTD, $12.19, up 3.77 pct (1001 ET)

Brokerage Benchmark Co started the internet and media company with a “buy” rating and said that increasing demand for its search related products will help Perion sustain strong organic growth. Benchmark analyst Daniel Kurnos set a price target of $17 on the company’s stock.

** ONYX PHARMACEUTICALS INC, $81.38, down 2.5 pct (0941 ET)

The company said it expects to receive about $358 million from a public offering of 4.4 million common shares. The offering is expected to close on January 22.

** ATRICURE INC, $7.65, up 2.14 percent (1002 ET)

The medical device maker said it expects to receive about $23 million from a public offering of its 3.5 million common shares priced at $7.25 per share. AtriCure plans to use the proceeds for general corporate purposes and working capital.

** WENDY‘S CO, $4.99, up 2 pct (0940 ET)

Wendy’s Co, the second-largest U.S. hamburger chain, reported a fourth-quarter profit that beat Wall Street estimates, helped by new menu items and spruced-up restaurants.

** COBALT INTERNATIONAL ENERGY INC, $25.00, down 6 pct (0940 ET)

The oil explorer said shareholders will sell 40 million of its common shares in a secondary offering.

** BOEING, $74.20, down 3.6 pct (0939 ET)

Japan’s two leading airlines grounded their fleets of Boeing 787s after one of the Dreamliner passenger jets made an emergency landing, the latest in a series of incidents to heighten safety concerns over a plane many see as the future of commercial aviation.

** YAHOO INC, $19.92, up 2 pct (0939 ET)

Alibaba Group, China's largest e-commerce company, hired Credit Suisse Group AG and Goldman Sachs to arrange an initial public offering, Bloomberg reported citing two people with knowledge of the matter. (link.reuters.com/bym35t)

Yahoo has a 23 percent stake in Alibaba. However, Reuters later reported Alibaba denied hiring banks to handle an initial public share offer.

** CHARLES SCHWAB CORP, $15.04, down 1.64 pct

The biggest online broker by market capitalization said fourth-quarter net income rose 29 percent from a year earlier on growing client assets, but fell 15 percent from the third quarter.

** FIVE BELOW INC, $35.36, up 11 pct (1207 ET)

The retailer raised its adjusted profit forecast for the fourth quarter of fiscal 2012 to between 36 and 38 cents per share from its previous forecast of between 35 and 37 cents per share.

** VERA BRADLEY INC, $23.80, up 3.8 (0937 ET)

The company raised its fourth-quarter profit and revenue forecasts on strong demand for its women’s accessories brands, sending its shares up 10 percent in after-market trade.

** RESEARCH IN MOTION, $15.00, up 5.4 pct (1041 ET)

BlackBerry-maker Research In Motion said its Secure Element Manager (SEM) solution for its mobile payment system has been approved by Visa.

The approval is a crucial step in expanding RIM’s role as a key security partner for mobile payment solutions around the world, said Andy Castonguay, analyst at Informa Telecoms and Media.

** CARPENTER TECHNOLOGY CORP, $50.06, down 7 pct (0936 ET)

The titanium alloys maker forecast second-quarter earnings which came in below analysts estimates due to a weak performance at its performance engineered products (PEP) business.

The company said it expects a second-quarter profit of 61 to 62 cents per share, compared with analysts’ average estimate of 77 cents per share, according to Thomson Reuters I/B/E/S.

** IRONWOOD PHARMACEUTICALS INC, $13.59, down 7 pct (1226 ET)

Cantor Fitzgerald analyst Irina Rivkind cut her price target on the stock to $7 from $8, citing difficulty in tracking revenue growth of Ironwood and Forest Laboratories Inc’s irritable bowel syndrome drug, Linzess, as a majority of commercially insured patients taking Linzess will get a discount on the prescription.

“Medicare/Medicaid patients are ineligible for these discounts and (this) may slow the true product ramp until they are covered,” analyst Rivkind said.

** ECHO GLOBAL LOGISTICS INC $18.33, down 6.6 pct (1219 ET)

Stifel downgraded the logistics and transportation services company to “hold” from “buy”. Stifel also said the company’s truckload brokerage business has come under modest margin pressure in recent quarters.

** CABELA‘S INC, $49.85, up 6.42 pct (1159 ET)

The Outdoor-gear retailer’s CEO’s comments were positively received after the executive, in an interview with CNBC, said the company would “adjust quickly to whatever Obama proposes on guns.” Cabela’s gets about 10 percent of revenue from gun sales.

** CROCS INC $14.75, down 6 pct (0934 ET)

The shoe maker reiterated its expectation for revenue to be $220 million in the fourth quarter, citing a difficult holiday retail sales environment and a weak macro economy.

** STONE ENERGY CORP, $22.10, up 5 pct (1222 ET)

The amount of oil and gas the company can feasibly produce, or its proved reserves estimates, have increased 28 percent at the end of 2012 from the year before, Stone Energy said late on Tuesday. It also expects output in the fourth quarter to remain at the upper end of its previous forecast of between 42,500 and 45,000 barrels of oil equivalent per day.

** GENERAL MOTORS CO, $29.20, down 4.6 pct (0934 ET)

The U.S. automaker expects its operating profit to rise “modestly” this year with improved results anticipated in each region because of new vehicles and greater demand in the United States and China.

** COMERICA INC, $33.01, up 4 percent (1136 ET)

The U.S. regional bank posted a higher-than-expected fourth quarter profit as the lender kept aside less money to cover bad loans. Provision for credit losses was down 11 percent to $443 million.

** APPLE INC, $503.29, up 3.6 pct (1034 ET) Apple shares changed course after three consecutive days of losses. Morgan Stanley called the tech giant a “best idea” and called concerns about iPhone shipments overblown.

** PRECISION CASTPARTS CORP, $183.47, down 3 pct (1207 ET)

The company, whose castings are used in every jet aircraft engine program in production or under development, is a “huge supplier for the Boeing 787” and its stock has dropped on controversy surrounding the aircraft, Drexel Hamilton analyst Richard Whittington said.

Japan’s two leading airlines grounded their fleets of Boeing 787s on Wednesday after one of the Dreamliner passenger jets made an emergency landing, the latest in a series of incidents highlighting safety concerns over the plane.

** BORGWARNER INC, $75.25, up about 2 pct (1205 ET)

The U.S. auto parts supplier forecast a 2013 profit above analysts’ estimates, and said it expects a sales growth of 2 percent to 6 percent in 2013, helped by its backlog of net new business. (Compiled by Arpita Mukherjee in Bangalore)

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