January 30, 2013 / 6:43 PM / 5 years ago

MARKET PULSE-RIM, Boeing, Amazon, Meru, Spansion, Meritor, Aspen

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


U.S. stocks were little changed on Wednesday as data showing the economy unexpectedly contracted in the fourth quarter was offset by positive parts of the report and strong results from Boeing Co and Amazon.com Inc. The Dow Jones industrial average fell 0.03 percent, the S&P 500 lost 0.06 percent, and the Nasdaq composite added 0.16 percent.

** RESEARCH IN MOTION LTD , $14.89, down 5 pct (1330 ET)

CEO Thorsten Heins unveiled two new BlackBerry 10 devices, but sales will not start until March in the United States.

The stock fell as much as 8 percent, with several analysts saying they were unimpressed. “While the software and user interface improvements are impressive, the hardware is pretty standard, and the ecosystem is still lacking and Service revenues are at risk,” BMO Capital Markets Analyst Tim Long said, reiterating an “underperform” rating.

“It was such a well-advertised launch date that people moved the stock up and then they took profits ahead of when it was going to be revealed,” said Ian Nakamoto, director of research at Macdougall, Macdougall and Mactier in Toronto.

** BOEING CO, $74.58, up 1.3 pct (1310 ET)

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

** AMAZON.COM INC, $275.35, up 5.6 pct (1215 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.

** MERU NETWORKS INC, $3.37, up 40.41 pct (1311 ET)

The networking software maker reported fourth-quarter results above analysts’ expectations helped by higher demand for its products.

** SPANSION INC, $11.57, down 12 pct (1320 ET)

The chipmaker reported lower-than-expected quarterly results and expects revenue for the current quarter well below Wall Street’s estimates.

** EMC CORP, $24.78, up 2.5 pct (1323 ET)

The data storage equipment maker on Tuesday offered a 2013 earnings outlook that missed estimates but expected IT spending to improve slightly this year on the back of demand for cloud computing and data analytics. [ID: nL1N0AY978]

“Core growth reaccelerated and we suspect that EMC again gained market share in most categories,” Raymond James analyst Brian Alexander wrote in a note. The brokerage cut its price target on the stock to $28 from $30.

** MERITOR INC, $4.54, down 15 pct (1216 ET)

The truck parts maker reported a 23 percent drop in quarterly revenue, hurt by lower demand outside North America, and said it would cut 200 jobs, or about 2 percent of its workforce, globally.

Meritor is facing pressure from reduced infrastructure spending and higher levels of dealer inventory in China, which have led to lower production of cranes, loaders and other excavating equipment.

** KB HOME, $19.04, up 2.3 pct (1217 ET)

Credit Suisse raised its rating on the stock of the fifth-largest U.S homebuilder to “outperform” from “neutral” and its price target to $24 from $14.50.

** LENNAR CORP, $41.73, down 2 pct (1217 ET)

Credit Suisse cut its rating on the stock of the third-largest U.S homebuilder to “neutral” from “outperform.”

** NEWLINK GENETICS CORP, $11.76, up 3 pct (1218 ET)

The pharmaceutical company offered 4 million shares of its common stock at $11.40 per share. NewLink expects proceeds of about $42.5 million from the offering after deducting various costs.

** PETROBRAS, $18.61, down 5 pct (1218 ET)

Preferred shares of Petrobras fell the most in over two months after Brazil’s state-run oil company announced late Tuesday that it would increase prices for gasoline by 6.6 percent and diesel by 5.4 percent starting on Wednesday.

** HAWAIIAN HOLDINGS INC, $5.69, down 12 pct (1219 ET)

The parent company of Hawaii’s biggest airline reported a loss of $3.4 million, or 7 cents per share, for its fourth quarter ended December late on Tuesday. Hawaiian Holdings had earned $20.9 million, or 40 cents per share, a year earlier. Excluding items, the company broke even in the quarter.

“The sharp weakening of the yen, excess capacity in certain markets and an accounting charge all worked to depress our earnings for the period,” Chief Executive Mark Dunkerley said.

** ROBERT HALF INTERNATIONAL INC, $35.19, up 3 pct (1218 ET)

The staffing company reported a better-than-expected fourth quarter profit, on higher revenue at Protiviti, its internal audit business, and higher gross-margins. Brokerage Citigroup raised its price target on the stock to $37 from $30.

** CHESAPEAKE ENERGY CORP, $20.08, up 6 pct (1220 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

** MEADWESTVACO CORP, $31.26, down 5 pct (1220 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.

** WEBSENSE INC, $15.22, down 5.6 pct (1221 ET)

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

** DOLBY LABORATORIES INC, $33.29, up 5 pct (1221 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.

** GOODRICH PETROLEUM CORP, $10.02, up 1 pct (1222 ET)

** LAREDO PETROLEUM HOLDINGS INC, $18.96, up 3 pct (1222 ET)

** APPROACH RESOURCES INC, $26.57, up 3 pct (1223 ET)

** PIONEER NATURAL RESOURCES CO, $119.75, up 2 pct (1223 ET)

Pioneer said it will sell a 40 percent stake in about 207,000 net acres in the Wolfcamp shale field in Texas to China’s state-run Sinochem Group Co Ltd for $1.7 billion.

** QIAGEN NV, $21.01, up 5 pct (1224 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, $5.86, down 3 pct (1225 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, $51.38, up 5 pct (1225 ET)

The company reported a much better-than-expected quarterly profit as cost cuts stabilized margins in its struggling markets such as France, and the world’s No. 3 staffing company said a “modest recovery” is likely in 2013.

** KINDER MORGAN ENERGY PARTNERS LP, $87.64, down 2 pct (1225 ET)

** COPANO ENERGY LLC, $37.90, up 14 pct (1225 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.

** ADT CORP, $48.50, up 4 pct (1227 ET)

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

** UNISYS CORP, $21.35, up 13 pct (1228 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, $9.73, down 18 pct (1229 ET)

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

** ASPEN TECHNOLOGY INC, $31.38, up 10 pct (1229 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, $42.77, down 2 pct (1230 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, $14.91, up 11 pct (1231 ET)

** AEGERION PHARMACEUTICALS INC, $27.74, down 3 pct (1231 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.

** PAREXEL INTERNATIONAL CORP, $32.40, down 4 pct (1232 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, $44.70, down 3.5 pct (1232 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.

** FREESCALE SEMICONDUCTOR LTD, $14.50, up 17 pct (1233 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, $38.35, up 6 pct (1233 ET)

The company said it would sell its consumer and office supplies unit, which includes Avery labels and HI-LITERS markers, and its coated films business to Canada’s CCL Industries Inc for $500 million.

** PHILLIPS 66, $61.91, up 3.3 pct (1234 ET)

** MARATHON PETROLEUM CORP, $71.17, down 1 pct (1235 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.

** BIOCLINICA INC, $7.21, up 19 pct [1235 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 $39.76, up 2.6 percent (1236 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.

** MULTIMEDIA GAMES HOLDING COMPANY INC, $16.74, up 17 pct (1236 ET)

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, $2.58, down 21 pct (1237 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.

** SENSATA TECHNOLOGIES HOLDING NV, $33.34, down 4 pct (1237 ET) The company which supplies sensing, control and power management products reported lower-than-expected fourth-quarter results and forecast current-quarter results which missed Wall Street’s estimates by a wide margin. (Compiled by Neha Dimri in Bangalore)

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