January 30, 2013 / 3:03 PM / 5 years ago

MARKET PULSE-Boeing, Amazon, Chesapeake, RIM, Dolby, Kinder Morgan

Jan 30 (Reuters) - Some U.S. stocks on the move on Wednesday:

Wall St edges higher, Amazon offsets GDP

U.S. stocks were flat as an unexpectedly weak read on fourth-quarter economic activity was offset by strong results at Boeing and Amazon.com. The Dow Jones industrial average was up 5.50 points, or 0.04 percent, at 13,959.92. The Standard & Poor’s 500 Index was up 1.09 points, or 0.07 percent, at 1,508.93. The Nasdaq Composite Index was up 5.73 points, or 0.18 percent, at 3,159.39.

** BOEING CO, $74.25, up 0.8 pct (0935 ET)

The Chicago-based aerospace and defense giant posted a stronger-than-expected profit on Wednesday as its backlog of orders rose, and said its 2013 forecast “assumes no significant financial impact” from the grounding of its 787 Dreamliner jet by regulators.

** AMAZON.COM INC, $280.55, up 7.7 pct (0938 ET)

The world’s largest Internet retailer’s better-than-expected profit margins surprised Wall Street, prompting at least five brokerages to raise their price targets on the stock.

** APPLE INC, $457.05 down 0.3 pct (0936 ET)

South Korea’s Samsung Electronics Co did not willfully infringe on some of Apple’s patents, a U.S. federal court ruled, foiling the iPhone maker’s attempt to ratchet up the $1.05 billion in damages it was awarded last August by a U.S. jury.

** RESEARCH IN MOTION LTD , $16.28, up 4 pct (0937 ET)

The BlackBerry maker plans to unveil its new line of smartphones on Wednesday, which has created a buzz among tech watchers and given the company’s stock a push forward. Features to watch out for in RIM’s new touchscreens include the intuitive keyboard and BlackBerry Balance, a feature which keeps corporate and personal data separate.

** CHESAPEAKE ENERGY CORP, $21.00, up 11 pct (0938 ET)

Chesapeake Energy Corp said on Tuesday that Aubrey McClendon will step down as chief executive after a tumultuous year in which a series of Reuters investigations triggered civil and criminal probes of the second-largest U.S. natural gas producer

** GOOGLE INC, $757.28, down 0.5 pct (0939 ET)

YouTube, the video website owned by Google, plans to offer paid subscriptions to some of the content on its site later this year, according to a media report.

** MEADWESTVACO CORP, $32.07, down 2.6 pct (0940 ET)

The packaging company posted a lower-than-expected quarterly profit, hurt by lower sales in its food and beverage business and said it expects earnings for the first quarter to be modestly lower, year-over-year. [ID: nBw9XcTHLa]

** WEBSENSE INC, $15.75, down 2.3 pct (0941 ET)

The online security firm posted fourth-quarter adjusted profit that missed market estimates and forecast first-quarter profit below expectations.

** DOLBY LABORATORIES INC, $33.44, up 5.25 pct (0941 ET)

The audio technology licensor posted first-quarter results that beat analysts’ estimates, helped by higher licensing revenue, and forecast second-quarter profit above expectations.

** PIONEER NATURAL RESOURCES, $122.61, up 4.5 pct (0941 ET)

The oil and gas producer said it will sell 40 percent of its interest in the Wolfcamp shale field in Texas to China’s state-run Sinochem Group Co Ltd for $1.7 billion.

** QIAGEN NV, $20.74, up 3.8 pct (0942 ET)

The genetic testing specialist exceeded expectations with a 13 percent rise in fourth-quarter net profit and said it expected sales and profit growth in 2013 on demand for its automated diagnostics gear.

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

** JETBLUE AIRWAYS CORP, $5.85, down 3.5 pct (0942 ET)

Raymond James cut its rating on the discount airline to “underperform” from “market perform,” a day after it reported a lower quarterly profit, hurt by disruptions caused by Superstorm Sandy. [ID: nWNAB00Q22]

** MANPOWER INC, $50.72, up 4.5 pct (0943 ET)

The Global staffing company reported a 16 percent fall in fourth-quarter profit as a weak European market hurt its margins.

** KINDER MORGAN ENERGY PARTNERS LP, $89.73, up 0.1 pct (0944 ET)

** COPANO ENERGY LLC, $39.04, up 18 pct (0945 ET)

Kinder Morgan will buy natural gas pipeline operator Copano for $3.22 billion to tap into growing demand for infrastructure to transport vast supplies from the shale fields of Texas and Oklahoma.

** SPRINT NEXTEL CORP, $5.60, down 0.7 pct (0946 ET)

** DISH NETWORK CORP, $37.63, down 0.8 pct (0946 ET)

Dish Network decided against filing to block Sprint’s proposed deal with Softbank Corp, at least for now, citing its ongoing negotiations with Clearwire Corp and uncertainty over that company’s ownership.

** ADT CORP, $48.06, up 3 pct (0946 ET)

The home security services company reported a higher quarterly profit on Wednesday and announced a $600 million accelerated share repurchase.

** ROCKWELL AUTOMATION INC, $89.34, down 0.6 pct (0947 ET)

The company reported a steeper-than-expected 12 percent drop in quarterly profit on weak demand for its systems that are used to help factories run more smoothly.

** UNISYS CORP, $21.14, up 12 pct (0947 ET)

The IT services company reported fourth-quarter results above Wall Street’s estimates helped by 16 percent growth in its technology business.

** KEY TRONIC CORP, $9.89, down 17 pct (0948 ET)

The electronics manufacturer’s reported second-quarter results at the lower end of its guidance as demand fell from one of its customers.

** RYLAND GROUP INC, $41.70, up 0.9 pct premarket

The homebuilder reported quarterly results well above analysts’ expectations and said new orders jumped 64 percent.

** ASPEN TECHNOLOGY INC, $30.84, up 8.2 pct (0950 ET)

The company, which provides supply chain management software for the manufacturing industry, posted better-than-expected second-quarter results on higher subscription and software revenue.

Brokerage Canaccord Genuity raised its price target on the company’s stock to $34 from $32.

** VALERO ENERGY CORP, $41.09, up 0.7 pct (0949 ET)

The leading U.S. independent refiner plans to expand its use of domestic crude oil as well as increase exports of refined products.

** ISIS PHARMACEUTICALS INC, $14.59, up 9 pct (0950 ET)

** AEGERION PHARMACEUTICALS INC, $27.90, down 2.2 pct (0950 ET)

The U.S. Food and Drug Administration on Tuesday approved a drug made by Sanofi SA and Isis designed to treat a rare genetic disorder that causes dangerously high levels of bad LDL cholesterol. In December, the FDA approved a drug for the same condition made by Aegerion.

** THERMO FISHER SCIENTIFIC INC, $71.10, up 1 pct (0951 ET)

** LIFE TECHNOLOGIES CORP, $63.41, up 2 pct (0951 ET)

Thermo Fisher Scientific is considering making an offer for Life Technologies, the biomedical laboratory equipment maker which is exploring a potential sale, three people familiar with the matter said on Tuesday.

** PAREXEL INTERNATIONAL CORP, $31.79, down 6 pct (0951 ET)

The contract research organization reported a quarterly profit above Wall Street estimates, helped by higher services revenue, and raised its outlook for the current year.

** VERTEX PHARMACEUTICALS INC, $44.75, down 3.5 pct (0952 ET)

The company on Tuesday reported a third consecutive quarterly loss as sales of its hepatitis C drug, Incivek, again fell sharply while research and development spending rose.

** ACE LTD, $83.60, down 1.5 pct (0952 ET)

The insurer reported a 24 percent fall in quarterly operating profit, hurt by losses related to superstorm Sandy, and forecast a full-year profit below analysts’ estimates.

** FREESCALE SEMICONDUCTOR LTD, $14.55, up 17.4 pct (0952 ET)

The company, which makes chips for cars and machinery, forecast current-quarter revenue above analysts’ estimates as demand returns in its wireless and enterprise businesses.

**AVERY DENNISON CORP, $38.55, up 6.7 pct (0953 ET)

Label and specialty packages maker CCL Industries Inc said it will buy two businesses of the U.S. label and office supplies maker for $500 million.

** PHILLIPS 66, $62.47, up 4.3 pct (0953 ET)

** MARATHON PETROLEUM CORP, $72.62, up 1 pct (0954 ET)

U.S. oil refiners Phillips 66 and Marathon Petroleum Corp reported higher-than-expected quarterly earnings on better refining margins fueled by cheaper crude oil from shale formations in North America.

** HESS CORP, $67.53, up 0.8 pct (0954 ET)

The company, which is under pressure from an activist investor to break up the company, reported a fourth-quarter profit on Wednesday as production from its wells in North Dakota’s Bakken oilfield soared.

** MARKETAXESS HOLDINGS INC, $39.15, up 3 percent (0935 ET) The company, which operates electronic bond trading platforms, posted a higher fourth-quarter profit and raised its quarterly dividend by 18 percent to 13 cents per share.

** BioClinica Inc, $7.21, up 19 pct [0937 ET]

The clinical trial management company said it will be bought by private-equity firm, JLL Partners, for $123 million. Following the purchase, BioClinica will be merged with another JLL acquisition, CoreLab Partners. The merged firm will provide medical imaging services for clinical trials.

The purchase price of $7.25 per share represented about 20 percent premium to BioClinica’s closing price on Tuesday.

PIPER JAFFRAY CO $40.24, up 4 percent (093838 ET)

The investment bank’s fourth-quarter profit topped Wall Street estimates as companies scrambled to complete their deal before the end of the year hoping to avoid fallout from the U.S. fiscal cliff battle.

Advisory revenue rose 139 percent in the quarter to $44.5 million.


The company, which manufactures gaming machines and video lottery terminals, reported higher revenues on the back of increased revenue from its gaming operations. The Austin, Texas-based company raised its 2013 revenue outlook.

Multimedia Games Holding also said it will begin serving the key Nevada slot machine market in the second half of fiscal 2013.

** VENTRUS BIOSCIENCES INC, $2.75, down 16 pct (0945 ET)

The pharmaceutical company said it would make a public offering of 5.8 million shares of its common stock at $2.50 each. Separately, it would also make another offering of its convertible preferred stock. Ventrus said it expects to raise about $20 million in gross proceeds from these offerings. [ID: nGNXUXBHWa] (Compiled by Neha Dimri in Bangalore)

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