January 29, 2013 / 4:43 PM / in 5 years

MARKET PULSE-Apple, Ford, Pfizer, Valero, Anacor, Sierra Wireless

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


U.S. stocks were flat on Tuesday as investors looked for new reasons in economic data or earnings to extend a rally that pushed major averages near five-year highs. The Dow Jones industrial average was up 0.10 percent. The Standard & Poor’s 500 Index was down 0.07 percent. The Nasdaq Composite Index was down 0.58 percent.

** FORD MOTOR CORP, $12.96, down 6 pct (1038 ET)

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

** APPLE INC $459.27, up 2 pct (1047 ET)

The iPhone maker said on Tuesday that it will sell a version of its iPad tablet computer with 128 gigabytes of storage, which is twice the capacity of its existing models. Apple, which has sold more than 120 million iPads so far, said that the new iPad will go on sale on Feb. 5 in black or white, for a suggested retail price of $799 for the iPad with just Wi-Fi model, and $929 for the version that also has a cellular wireless connection.

** MICROSOFT CORP, $27.82, down 0.3 pct (1113 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.

** PFIZER INC, $27.57, up 2.7 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.

** TUPPERWARE BRANDS CORP, $73.84, up 5 pct (1001 ET)

The company, known for its brightly colored containers that store food, reported better-than-expected results for the fourth quarter as sales improved in most of its markets.

** INTER PARFUMS INC, $21.48, up 7 pct (1018 ET)

Inter Parfums reported fourth-quarter revenue that beat Wall Street estimates helped by strong sales in North America, prompting the fragrance maker to raised its full-year 2013 forecast.

** ASHLAND INC, $78.92, down 8 pct (1010 ET)

The chemical maker said operating income for first quarter fell 17 percent due to weak demand for its coatings and construction products in emerging markets. Excluding three items, Ashland earned $1.21 per share. Analysts on average had expected a profit of $1.37 per share, according to Thomson Reuters I/B/E/S.

** PANDORA MEDIA INC, $11.23, down 3 pct (1015 ET)

Brokerage Wedbush Securities Inc downgraded the online streaming music service company’s stock to “neutral” from “outperform” citing “a lack of near-term profitability and continuing uncertainty about competition.”

** NETGEAR INC, $37.16, down 9 pct (1015 ET)

** CISCO SYSTEMS INC, down 1 pct (1021 ET)

Bugs in widely used networking technology expose tens of millions of personal computers, printers and storage drives to attack by hackers over the regular Internet, researchers with a security software maker said.

** VALERO ENERGY CORP, $42.27, up 9 pct (1054 ET)

** WESTERN REFINING INC, $31.48, up 4 pct (1050 ET)

** HOLLYFRONTIER CORP, $49.73, up 3.7 pct (1050 ET)

Valero Energy, the largest independent U.S. refiner, reported a bigger-than-expected jump in fourth-quarter profit on Tuesday as it processed more cheaper crude oil from U.S. shale basins.

“Valero’s results for the mid-con were strong, so that has read-through for HFC and WNR,” said Raymond James analyst Stacey Hudson.

** POLARIS INDUSTRIES INC, $86.03, down 6 pct (1108 ET)

The all-terrain vehicle maker’s fourth-quarter results beat analysts’ estimates, but it forecast full-year earnings below market expectations citing a tough economic environment and competitive pressures in its main off-road vehicles business.

** OLIN CORP, $22.46, down 6 pct (1106 ET)

The chemical company forecast first-quarter earnings which were below analysts expectations, hurt by falling sales at its chlor alkali division. The company said it expects to report earnings between 40 cents per share to 45 cents per share. Analysts on an average were expecting a profit of 56 cents per share, according to Thomson Reuters I/B/E/S.

** 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)

Data storage equipment maker EMC’s 2013 earnings outlook missed estimates.

VMware, a publicly traded division of EMC, 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.

** 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.

** PEABODY ENERGY CORP, $26.61, up 6 pct (1100 ET)

The world’s largest private sector coal miner reported a $1 billion loss for the fourth quarter and warned of a current-quarter loss, but said lower costs and a rebound in prices for steel-making coal would help lift its earnings as the year progresses.

** 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.

** CIT GROUP INC, $43.82, up 7.9 pct (1130 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 pct (0952 ET)

** HOVNANIAN ENTERPRISES INC, $6.13, up 3 pct (1027 ET)

** BEAZER HOMES USA INC, $18.91, up 4 pct (1033 ET)

Top U.S homebuilder D.R. Horton’s quarterly profit more than doubled as it sold more homes at higher prices, and it reported a 39 percent jump in orders, underlining a firming U.S. housing recovery.

The positive results helped the stocks of other homebuilders as well.

** FORTINET INC, $19.87, down 5.6 pct (1031 ET)

Brokerage Wunderlich Securities downgraded the network security firm’s stock to “hold” from “buy” and lowered its price target on the company’s stock to $22.00 from $28.00, StreetInsider.com reported.

** 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.


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.

** FUSION-IO INC, $19.79, down 4 pct (1116 ET) EMC said on its conference call that it would introduce a PCI Express- based product that competes with storage device maker Fusion-io’s products, Craig Hallum analyst Rajesh Ghai said. (Compiled by Neha Dimri in Bangalore)

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