February 12, 2013 / 7:14 PM / in 5 years

MARKET PULSE-Housing stocks, Avon, Stemcells, Cubic, KVH Industries

Feb 12 (Reuters) - Some U.S. stocks on the move on Tuesday:


U.S. stocks edged higher on Tuesday, with the S&P 500 holding near multi-year highs ahead of President Barack Obama’s State of the Union address, as housing stocks advanced. The Dow Jones industrial average rose 47.77 points, or 0.34 percent, to 14,019.01. The Standard & Poor’s 500 Index gained 3.95 points, or 0.26 percent, to 1,520.96. The Nasdaq Composite Index added 0.88 points, or 0.03 percent, to 3,192.88.


** MASCO CORP, $20.39, up 14 pct (1305 ET)

** HOVNANIAN ENTERPRISES, $5.94, up 11.2 pct (1354 ET)

** MDC HOLDINGS, $40.59, up 7.5 pct (1354 ET)

** D.R.HORTON INC, $24.44, up 6.6 pct (1354 ET)

** KB HOME, $19.76, up 6.4 pct (1355 ET)

** PULTE GROUP, $20.53, up 6.3 pct (1355 ET)

** RYLAND GROUP INC, $39.27, up 5.6 pct (1355 ET)

** BEAZER HOMES, $17.60, up 4.6 pct (1356 ET)

** LENNAR CORP, $41.09, up 4.6 pct (1356 ET)

** TOLL BROTHERS, $37.45, up 4.4 pct (1356 ET)

Housing shares helped lift equities in the latter part of trading, led by a 14.4 percent jump in Masco’s stock to $20.35 after the home improvement product maker reported a better-than-expected earnings for the fourth quarter and said it expects new home construction to show strong growth in 2013. The PHLX housing sector index rose 4.3 percent.

** COCA-COLA CO, $37.57, down 2.7 pct (1233 ET)

The world’s largest soft drink maker, with brands such as Sprite, Fanta and Minute Maid, on Tuesday said revenue rose 4 percent to $11.46 billion. But analysts were expecting $11.53 billion, according to Thomson Reuters I/B/E/S.

** APPLE INC, $471.98, down 1.6 pct (1232 ET)

Chief Executive Tim Cook called David Einhorn’s lawsuit against his company a “sideshow,” but said the board was considering the star hedge fund manager’s proposal to issue preferred stock. Einhorn is suing the iPhone maker as part of a wider effort to get it to share more of its cash pile - one of the largest hoards in the technology industry.

** BARCLAYS PLC , $20.42, up 8.4 pct (1233 ET)

New Chief Executive Antony Jenkins pledged a fresh course for the British lender, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.

** FACEBOOK INC, $27.49, down 2.7 pct (1234 ET)

The company was sued by Rembrandt Social Media, a patent-holding company that claims Facebook is infringing a technology that patents the “like” function used on the social network.

** GOODYEAR TIRE & RUBBER CO, $13.76, down 1 pct (1234 ET)

The top U.S. tire maker posted a stronger-than-expected quarterly profit, but cut its 2013 forecast due to weakness in the European automotive market.

** STEMCELLS INC, $2.03, up 23.5 pct (1235 ET)

The company said data from its trial testing purified human neural stem cells in patients with chronic spinal cord injury showed that gains in sensory function observed at six months in two of the three patients persisted at 12 months.

** ALBANY MOLECULAR RESEARCH INC, $6.80, up 20 pct (1236 ET)

The contract research and manufacturing company reported fourth-quarter results which beat analysts’ estimates, helped by growth in its large-scale manufacturing business. An adjusted profit of 17 cents per share handily beat analysts’ estimates of 9 cents per share, while revenue of $67.2 million beat estimates of $56.5 million. Albany expects full-year adjusted earnings in the range of 34 cents to 52 cents per share. Analysts were expecting earnings of 24 cents per share, according to Thomson Reuters I/B/E/S.

** ZIOPHARM ONCOLOGY INC, $4.76, up 19 pct (1235 ET)

The cancer drug maker said a late-stage trial for its experimental bone cancer drug reached the target number of events that are required to complete the study and analyze the data. The drug palifosfamide, or ZIO-201, was being tested in patients with first-line, metastatic, soft tissue sarcoma. The company will announce results from the trial during the last week of March 2013.

** AVON PRODUCTS INC, $20.00, up 19.2 pct (1236 ET)

The world’s largest direct seller of cosmetics reported a better-than-expected quarterly profit as it sold more items, lined up more sales representatives and cut marketing and personnel costs.

** GILAT SATELLITE NETWORKS LTD, $6.11, up 12.7 pct (1325 ET)

The Israel-based company, which provides Internet protocol-based digital satellite products and services, won a five-year base contract by a delivery service company to upgrade and provide network connectivity to more than 5,700 locations.

** MICHAEL KORS HOLDINGS LTD, $63.28, up 11 pct (1304 ET)

The fashion company raised its full-year forecast after handily beating Wall Street estimates for its third-quarter results with the help of strong sales of luxury items in North America and Europe during the holidays.

** KVH INDUSTRIES INC, $13.24, down 11 pct (1236 ET)

The mobile communication equipment maker forecast 2013 earnings below analysts’ estimates citing weakness in its leisure and defense markets.

** LEVEL 3 COMMUNICATIONS INC, $21.99, down 10.8 pct (1301 ET)

The network provider and content delivery company reported a quarterly that was bigger than what analysts on average expected according to Thomson Reuters I/B/E/S.

** QUALYS INC, $11.44, down 10 pct (1304 ET)

The cloud computing security provider forecast 2013 adjusted profit largely below analysts’ estimates on Monday. “Near-term weakness is being driven particularly by the soft environment in Germany, France, and the UK,” Lazard Capital Markets analyst Joel Fishbein wrote in a note, and cut his price target on the stock to $17 from $18.

** MELA SCIENCES INC, $1.51, down 10 pct (0949 ET)

The medical device maker priced an offering of 6.1 million shares of its common stock at $1.30 per share. The company plans to use the proceeds to continue the launch of its dermatology device MelaFind in the United States and European Union, for research and development activities and general corporate purposes.

** CUTERA INC, $12.35, up 9 pct (0950 ET)

The medical device maker swung to a quarterly profit that beat analysts’ estimates driven primarily by sales of its aesthetic treatment products truSculpt and ExcelV.

** OCZ TECHNOLGY, $2.24, up 8.2 pct (1315 ET)

Two of the solid-state driver maker’s Vector series drives received positive reviews on OCIA and ITProPortal.

“The new Vector product appears to be enterprise relevant. The enterprise base is definitely the biggest growth driver. It (share movement) could be in part due to the positive review on the Vector products,” Piper Jaffray analyst Andrew Nowinski said.

** AMERICAN SUPERCONDUCTORS, $2.89, down 7.6 pct (0944 ET)

The electrical component maker for wind turbines reported a third-quarter revenue that missed analysts’ expectations by a wide margin as the company could not recognize revenue from one if its customers. The customer paid for the product, but could not accept the delivery, AMSC said. Accordingly, AMSC could not recognize the revenue, it said.

** SPIRIT AEROSYSTEMS HOLDINGS INC, $17.34, up 7.5 pct (1352 ET)

The company, which supplies parts for aircraft, including Boeing Co’s Dreamliner, reported better-than-expected quarterly results on strong global orders for aircraft and reiterated its 2013 outlook.

** CUBIC CORPORATION, $44.75, down 7.5 pct (1134 ET)

The company reported a first-quarter profit of 47 cents per share, largely below analysts’ expectations of 70 cents per share.

** AMYRIS INC, down 7.5 pct, $3.55 (1305 ET)

Raymond James downgraded the biofuel company from “market perform” to “underperform” on valuation citing the stock’s recent run.

** GRAN TIERRA ENERGY INC , $5.87, up 7.3 pct (1045 ET)

The South America-focused oil exploration and production company said it discovered oil at one of its wells in Peru. The company, which has operations in Colombia, Argentina and Brazil, said the initial drilling results showed an oil column of 99 feet.

** CYNOSURE INC, $28.80, up 7 pct (1318 ET)

The company, which makes lasers for aesthetic procedures, reported fourth quarter results which beat analysts’ estimates due to strong demand for its products in North America. Cynosure reported a profit of 27 cents per share, over analysts’ estimates of 23 cents per share, according to Thomson Reuters I/B/E/S. The company’s revenue of $42.7 million beat estimates of $41 million.

** OCEAN RIG UDW INC, $16.30, down 7 pct (1326 ET)

The driller, which is majority-owned by DryShips Inc , said the drybulk shipper will offer 7.5 million Ocean Rig shares, raising about $126.4 million. DryShips will own a 59.4 percent stake in Ocean Rig following the offering, which will close on Feb. 14. The offering values Ocean Rig shares at about $16.85, a 4 percent discount to the stock’s Monday close.

** SOLARCITY CORP, $17.69, up 7 percent (1319 ET)

The residential solar financing market is expected to rise to $5.7 billion in 2016 from $1.3 billion in 2012, GTM Research said on Monday. The research report also noted that SolarCity was the largest residential installer in the country in 2012, with its market share more than double that of its nearest competitor.

** UNILIFE CORP, $2.13, down 6.5 pct (1321 ET)

Jefferies & Co cut the target price on the company’s stock to $3.50 from $5.

** EXONE CO, $28.12, down 6.5 pct (1322 ET)

The 3D printer maker, which debuted its shares at the higher end of the expected range on Friday on the Nasdaq, reversed some of its gains.

** NAVIOS MARITIME ACQUISITION CORP, $2.84, up 6.4 pct (1324 ET)

The owner and operator of tanker vessels posted a fourth-quarter profit that beat analyst estimates and reported a five percent higher revenue on the tanker acquisitions it made in 2012.

** DUN & BRADSTREET CORP, $79.85, down 6.3 pct (1307 ET)

The business information firm reported lower-than-expected quarterly results due to weaker demand in North America and said it expects full-year core revenue growth of up to 3 percent.

** THE VALSPAR CORP, $62.96, down 6 pct (1303 ET)

The paint and coatings maker reported a lower-than-expected profit and it cut its earnings forecast for the full year as it expects demand in its international markets to remain low.

** HUNTSMAN CORP, $17.98, down 5.7 pct (1328 ET)

The chemical maker’s quarterly results beat Wall Street estimates as it managed to raise prices on polyurethane, used in foam insulation.

** COMSTOCK RESOURCES, $13.38, down 5.6 pct (1326 ET)

MLV & Co lowered price target on the oil and gas company to $18 from $25 after it posted a bigger than expected loss on Monday and reported a 9 percent lower natural gas production in the fourth-quarter.

** BROOKDALE SENIOR LIVING, $28.33, up 5.4 pct (1323 ET)

The operator of senior living communities on Monday evening reported a bigger-than-expected quarterly loss with a roughly in-line revenue, but JMP Securities analyst Peter Martin said these results should be outweighed by what he called was strong guidance for cash flow from facility operations for the year. Brookdale’s shares on Tuesday rose to $28.67 to reach their highest level in five years as analyst Martin stood by his “market outperform” rating on the company stock, while raising his price target to $32 from $28.

** GEVO INC, $2.56, up 5.3 pct (1320 ET)

The renewable chemicals and advanced biofuels company was granted a patent for making renewable jet fuel blendstock from isobutanol by the United States Patent and Trademark Office.

** FOSSIL INC, $112.85, up 5 pct (1317 ET)

The fashion accessory maker and retailer reported a 28 percent rise in quarterly profit on improved sales across categories, especially in its direct-to-consumer business.

** KOSMOS ENERGY LTD, $12.16, down 4.6 pct (1326 ET)

The oil and natural gas producer offered to sell 30 million shares on Monday and added that it will not receive any proceeds from the stock sale.

** REXNORD CORP, $21.02, up 4 pct (1354 ET)

The industrial parts maker said it would explore strategic alternatives, including a sale of the company, less than a year after going public.

** TROVAGENE INC, $7.00, up 3.7 pct (1324 ET)

The molecular diagnostics company said it expects to achieve clinical validation for its test to screen carriers of human papillomavirus - a common sexually transmitted infection - in March, following which the test will be available to patients. Trovagene said it expects it KRAS cancer gene mutation test to be introduced in the market in the second quarter, and its test to detect liver cancer to be launched in the fourth quarter.

** NORWEGIAN CRUISE LINE HOLDINGS LTD, $28.68, up 3.6 pct (1328 ET)

The global cruise line operator on Monday reported a fourth-quarter profit of $5.6 million, or 4 cents per share, compared with a loss of $1.9 million, or 1 cent per share, a year earlier. Sales rose 3 pct to $503.2 million. A day later Nomura Equity Research upgraded its rating on the company’s stock to “buy” from “neutral.”

** HERCULES OFFSHORE INC, $7.20, up 2.5 pct (1330 ET)

The shallow-water drilling contractor swung to a quarterly profit and said it embarked on its first rig reactivation due to limited availability of rigs and strong interest from customers in the Gulf of Mexico. “Market fundamentals in the U.S. Gulf of Mexico strengthened throughout 2012, to levels that, in many respects, are the best they have been in the long history of drilling in the region,” CEO John Rynd said.

The stock was at its highest level in a year.

** NEXEN INC , $27.42, up 2 pct (1330 ET)

U.S. regulators have approved the $15.1 billion takeover of the Canadian oil and gas company by China’s state-owned CNOOC , removing the final barrier to China’s largest foreign takeover. The companies had been awaiting U.S. approval of the deal because Nexen has assets in the Gulf of Mexico, as well as in Canada and other countries.

Nexen’s U.S.-listed shares were trading at their highest level in a year.

** NIELSEN HOLDINGS NV, $33.40, up 2 pct (1331 ET)

The TV ratings company increased the size of its contract with India’s top software services exporter, Tata Consultancy Services, to $2.5 billion from $1 billion.

The stock was trading art its highest level in a year. (Compiled by Mridhula Raghavan in Bangalore)

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