July 9, 2013 / 2:08 PM / in 4 years

MARKET PULSE-Tesla Motors, CytRx, Kroger, Ixia, Intuitive Surgical

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/guf59t)

July 9 (Reuters) - Some U.S. stocks on the move on Tuesday:


U.S. stocks rose at the open, putting the S&P 500 on pace for a fourth straight advance, after Alcoa’s earnings caused moderate optimism at the start of the earnings season. The Dow Jones industrial average rose 0.47 percent, the S&P 500 gained 0.57 percent and the Nasdaq Composite added 0.39 percent.

** BARNES & NOBLE INC, $18.26, up 3.39 pct (0945 ET)

The company’s CEO William Lynch resigned on Monday, an acknowledgement that its digital division Nook has failed to compete successfully in the e-reader and tablet markets and possibly presaging a further shake-up in the company.

** TESLA MOTORS INC, $124.55, up 2.38 pct (0931 ET)

The U.S. electric car maker will replace Oracle Corp on the Nasdaq 100 stock index, Nasdaq OMX Group Inc said on Monday. Oracle said in June that it was moving its stock listing to the New York Stock Exchange from the Nasdaq.

** KROGER CO, $36.97, up 2.1 pct (0932 ET)

** HARRIS TEETER SUPERMARKETS INC, $49.05, up 1 pct (0932 ET)

Kroger, the biggest U.S. supermarket operator, said it would acquire Harris Teeter Supermarkets in a deal valued at $2.5 billion to expand in the south east and mid-Atlantic regions.

** BLACKBERRY, $9.63, up 1 pct (0944 ET)

The Canadian smartphone maker will likely face tough questions about its future at its annual meeting today after dismal quarterly results triggered a 28 percent plunge in the company’s share price.

** HEWLETT-PACKARD CO, $25.48, up 1.2 pct (0933 ET)

Analysts at Brean Capital upgraded the company to ”buy,“ saying that HP ”can continue to move higher through 2H13 given strengthened cash flow, cost-saving benefits and product mix.

** INTERNATIONAL BUSINESS MACHINES, $192.08, down 1.46 pct (0933 ET)

Analysts at Goldman Sachs cut their rating on the technology services company’s stock to “neutral” from “buy”, according to Theflyonthewall.com.


The company received Indonesian government permission on Tuesday to resume underground operations at the world’s second-biggest copper mine, nearly two months after a tunnel cave-in that killed 28 people.

** CYTRX CORP, $2.88, up 31 pct (0949 ET)

The company said its cancer drug aldoxorubicin showed statistical significance in shrinking brain tumors in an early stage study using animals.

CytRx said the results supported its plans to initiate a mid-stage trial of the drug in patients with relapsed glioblastoma, a common and malignant brain tumor.

** INTUITIVE SURGICAL INC, $418.90, down 16 pct (0935 ET)

The maker of the da Vinci surgical robot said on Monday it expects second-quarter revenue below analysts’ expectations.

At least three brokerages cut their ratings on Intuitive’s stock on Tuesday.

** IXIA, $13.99, down 21 pct (0936 ET)

The provider of testing products to telecom operators estimated second-quarter revenue below Wall Street expectations due to lower demand from network equipment manufacturers and some service providers. The company also said some large deals were pushed into future quarters.

Ixia estimated second-quarter revenue of $114 million to $116 million, below the $120.1 million analysts were expecting, according to Thomson Reuters I/B/E/S.

Brokerage Deutsche Bank downgraded the company’s stock to ”hold“ from buy” on Tuesday, according to Theflyonthewall.com.

** FX ENERGY INC, $2.98, down 13 pct (0935 ET)

The U.S. oil and gas company said a test at its Plawce-2 well in Poland resulted in water and non-commercial levels of natural gas. FX Energy said the results were “disappointing”. PGNiG SA, the Polish national oil and gas company, is the operator of the Fences area in western Poland’s Permian basin, where the well is located.

** WD-40 CO, $63.68, up 10 pct (0934 ET)

The lubricant maker reported third-quarter results that beat analysts’ expectations as demand for its multi-purpose maintenance products, including 3-In-One, Blue Works and its namesake brands, rose.

The company also raised its full-year profit outlook to between $2.40 and $2.48 per share from its earlier forecast of $2.32 to $2.42 per share.


The biopharmaceutical company resubmitted its once-rejected hypotension drug Northera for marketing approval by U.S. health regulators. [ID: nGNXUYEDAa]

Northera is being tested for symptomatic neurogenic orthostatic hypotension, or a chronic drop in blood pressure on standing up most often associated with Parkinson’s disease. The U.S. FDA determined in February that Chelsea could use its original data for the resubmission.

** WOLVERINE WORLD WIDE INC, $58.50, up 5.84 pct (0937 ET)

The shoemaker reported second-quarter profit that beat market estimates as it benefited from the recently acquired Sperry Top-Sider, Saucony, Stride Rite and Keds brands. The company raised its full-year adjusted profit outlook to between $2.60 and $2.75 per share from $2.50 to $2.65 per share.

** AMARIN CORPORATION PLC, $5.74, down 7 pct (0938 ET)

The drugmaker said on Monday that it is offering 21.7 American Depositary Shares in an underwritten public offering.

Oppenheimer & Co analyst Akiva Felt said he expects the company to use the money to market its heart drug, Vascepa, to a wider population, if approved for an additional indication.

** INTERNATIONAL RECTIFIER, $22.07, up 3.7 pct (0939 ET)

Analysts at Raymond James upgraded the power management products maker to “strong buy” from “market perform,” saying they expect improvement in the company’s earnings per share over the next eighteen months to come from “margin leverage from better fab utilization”.

The analysts said the company has been seeing decent orders and expects steady orders to drive greater-than-expected margin leverage.

** HI-TECH PHARMACAL CO INC, $31.64, down 5.63 pct (0940 ET)

The specialty pharmaceutical company reported fourth-quarter results that missed analysts estimates due to declining prices of its Fluticasone nasal spray.

** AMERIGAS PARTNERS LP, $47.14, down 5.36 pct (0941 ET)

The propane gas distributor said late on Monday that an affiliate of Energy Transfer Partners LP has begun a public offering of 6 million AmeriGas shares it owns.

AmeriGas bought Energy Transfer Partners’s propane business for $2.8 billion in October 2011.

** DANAHER CORP, $66.19, up 2.83 pct (0941 ET)

The industrial and healthcare conglomerate said it expects second-quarter profit to be slightly above its previous forecast of between 80 and 85 cents per share. Analysts on average were expecting earnings of 84 cents per share, according to Thomson Reuters I/B/E/S. Danaher will report second-quarter results on July 18.

** SIRIUS XM RADIO INC, $3.54, up 1.86 pct (0942 ET)

The company said the number of people paying for its radio service rose to 25 million in the second quarter, helped by strong auto sales, and it raised its subscriber expectations for the year. For the year, Sirius increased its forecast of net subscriber additions by 100,000 to 1.5 million.

** APPLIED MATERIALS, $15.50, up 2.3 pct (0942 ET)

The maker of equipment used to manufacture chips said on Monday said it expects adjusted earnings per share of $1.50 to $2.15 by fiscal 2016.

The company earned 75 cents per share, excluding items, in 2012.

Compiled by Lehar Maan; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below