January 29, 2013 / 3:02 PM / 5 years ago

MARKET PULSE-Microsoft, Ford, Oxford Resources, Keryx, Yahoo

Jan 29 (Reuters) - Some U.S. stocks on the move on Tuesday:


Stocks were little changed at the open as investors were cautious following a recent rally and before consumer confidence data. The Dow Jones industrial average rose 10.09 points, or 0.07 percent, to 13,892.02, the S&P 500 gained 0.05 point to 1,500.23 and the Nasdaq Composite dropped 8.27 points, or 0.26 percent, to 3,146.03.

** MICROSOFT CORP, $27.84, down 0.2 percent (0931 ET)

The world’s largest software company launched its new Office software on Tuesday, featuring constantly updated, online access to documents from a range of devices in an attempts to tailor its most profitable product to a mobile generation.

** FORD MOTOR CORP, $13.28, down 3.6 pct (0931 ET)

The second-largest U.S. automaker posted earnings that topped consensus views, but forecast a wider loss in its European segment.

** PFIZER INC, $27.05, up 0.8 pct (0932 ET)

The largest U.S. drugmaker reported better-than-expected quarterly results, helped by a rebound in sales in emerging markets.

** OXFORD RESOURCE PARTNERS LP, $3.39, down 34 pct (0952 ET)

The coal producer said it would suspend cash distributions on both its common and subordinated shares for the fourth quarter as coal prices continue to suffer due to weak demand from steelmakers in top consumer China and crisis-hit Europe.

** KERYX BIOPHARMACEUTICALS INC, $7.95, up 31 pct (0940 ET)

Keryx on Monday said a late-stage trial of its experimental drug for kidney disease met the main study goal of reducing phosphate levels in blood.

At least 5 brokerages raised their price targets on the stock after the positive results.

** ANACOR PHARMACEUTICALS INC, $4.05, down 22 pct (0938 ET)

The company reported positive results from a late-stage trial of its experimental drug for a fungal infection of nails. However, the efficacy data of the drug was not as good as that shown by a rival experimental drug from Valeant Pharmaceuticals International Inc .

** VMWARE INC, $78.14, down 20.5 pct (0942 ET)

** EMC CORP, $23.76, down 5.7 pct (0943 ET)

VMware, a publicly traded division of data storage equipment maker EMC Corp, forecast a disappointing year ahead partly due to a drop in federal spending, prompting several brokerages to downgrade the stock. The company also said it plans to cut about 7 percent of its workforce as part of a restructuring program and would scale back in some areas of its business while putting more emphasis on certain geographies, product groups and operations

** YAHOO INC, $20.52, up 1 pct (0933 ET)

The Internet company forecast a modest uptick in revenue for the current year as it revamps its family of websites.

** SIERRA WIRELESS INC , $11.00, up 19 pct (0948 ET)

The provider of mobile broadband modems and wireless modules said on Monday it sold its assets and operations related to its AirCard business to Netgear Inc for $138 million in cash. The company also reported preliminary full-year revenue slightly above analyst’s estimate. [ID: nBw3sM28Na]

Brokerage firm Jefferies & Co raised its price target to $10 from $8 on the stock.

** VALERO ENERGY CORP, $42.70, up 10 pct (0935 ET)

The largest U.S. independent refiner reported a jump in fourth-quarter profit on Tuesday as the U.S. refining company’s plants processed cheaper domestic crude oil.

** BMC SOFTWARE INC, $40.25, down 9.5 pct (0945 ET)

The business software maker forecast a lower-than-expected profit for the current year after reporting third-quarter results below Wall Street estimates due to lower license bookings at its enterprise services management and mainframe service management businesses.

** KULICKE AND SOFFA INDUSTRIES INC, $11.70, down 9 pct (0934 ET)

The chip gear maker reported first-quarter adjusted profit above estimates but forecast second-quarter revenue below analysts’ expectations.

** MINDSPEED TECHNOLOGIES INC, $4.70, up 9 pct (0946)

The company, which supplies chips for network infrastructure applications, posted a surprise profit as product revenue jumped 13 percent.

** HESS CORP, $68.00, up 9 pct (0944 ET)

Elliott Management said it plans to nominate five executives to U.S. oil and gas company Hess Corp’s board of directors as part of its push to improve shareholder returns.

** SEAGATE TECHNOLOGY PLC, $34.77, down 7 pct (0937 ET)

** WESTERN DIGITAL CORP, $46.96, down 3.4 pct (0937 ET)

Hard-disk drive maker Seagate forecast third-quarter revenue below analysts’ estimates on muted demand for its hard disk drives as consumers pick smartphones and tablets over PCs.

Rival Western Digital’s stock was also down.

** PLX Technology Inc, $4.99, up 6.6 pct (0945 ET)

The chipmaker, whose products are used in digital TVs and video surveillance equipment, on Monday reported better-than-expected quarterly profit and forecast first-quarter revenue above analysts’ estimates on increased market share of its PCI Express products.

** CIT GROUP INC, $42.88, up 5.8 pct (0949 ET)

The company’s fourth-quarter profit beat Wall Street estimates by a wide margin as the small-business lender halved the money it spent to cover interest payments on long-term debt.

** LEXMARK INTERNATIONAL INC, $25.64, down 8.3 pct (0952 ET)

The printer maker quarterly profit fell 91 percent due to higher-than-expected taxes.

** D.R. HORTON INC, $22.22, up 4.3 pct (0952 ET)

The biggest U.S. home builder said net income more than doubled due to higher selling prices, and reported a 39 percent jump in orders.

** BOSTON SCIENTIFIC CORP, $7.37, up 7.4 pct (0953 ET)

The company reported weaker quarterly earnings on Tuesday as sales slipped and expenses rose, and the medical device maker announced more job cuts.

** PLUM CREEK TIMBER CO, $49.27, up 4 pct (0954 ET)

The forest products company’s fourth-quarter profit beat analysts’ estimates by a wide margin, helped by the emerging recovery in residential construction, and the company forecast higher demand and pricing for logs in 2013.

** SANMINA CORP, $10.66, down 9.3 pct (0955 ET)

The provider of components and logistics to defense, aerospace, and automotive industries reported first-quarter profit below analysts’ expectations late on Monday due to weak demand in most of its businesses. Sanmina also forecast second-quarter revenue of between $1.40 billion and $1.45 billion, below analysts’ average estimate of $1.49 billion, according to Thomson Reuters I/B/E/S.

** MONRO MUFFLER BRAKE INC, $34.95, down 4.5 pct (0956 ET)

The Auto-repair chain reported a lower-than-expected third-quarter profit, hurt by margin decline, and cut its fiscal 2013 earnings outlook to below analysts’ expectations. The company said its near-term visibility remains “cloudy” and forecast a 9 percent to 6 percent fall in same-store sales for the fourth quarter.


The largest provider of private educational services in China reported a quarterly loss attributable to the company of $9.0 million, excluding items, compared with a net profit of $7.5 million a year earlier. (Compiled by Neha Dimri in Bangalore)

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