July 11, 2013 / 3:04 PM / in 4 years

MARKET PULSE-Bridgepoint, Microsoft, Leading Brands, gold miners

(For more market insights, including options activity, click on ; for The Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, r.reuters.com/bet59t)

July 11 (Reuters) - Some U.S. stocks on the move on Thursday:


U.S. stocks jumped, with each of the major indexes gaining 1 percent, after comments by U.S. Federal Reserve Chairman Ben Bernanke indicated the central bank was unlikely to scale back its stimulus measures earlier than expected. The Dow Jones industrial average gained 0.99 percent, the Standard & Poor’s 500 Index climbed 1.10 percent and the Nasdaq Composite Index rose 1.13 percent.

** ROCKWELL MEDICAL INC, $4.84, up 28 pct (0932 ET

Rockwell Medical said a late-stage trial of its experimental iron deficiency drug met the main goal of improving hemoglobin levels in patients with chronic kidney disease.

** BRIDGEPOINT EDUCATION INC, $15.71, up 24 percent(0952 ET)

The education services provider said its Ashford University received a five-year initial accreditation from the Western Association of Schools and Colleges, a body authorized to accredit senior colleges and universities.

Barrington Research raised its rating on Bridgepoint’s stock to “outperform” from “market perform”.

** ALNYLAM PHARMACEUTICALS INC, $43.42, up 16 pct (0933 ET)

The company said an early-stage trial of its gene-based therapy showed the drug successfully suppressed the protein that causes an organ-damaging hereditary disorder.

The study was testing a subcutaneously administered version of the drug, ALN-TTR, to treat the genetic disorder amyloidosis, when caused by mutations in the transthyretin gene.

** LEADING BRANDS INC, $4.88, up 35 pct (1025 ET)

The Canada-based branded beverage company reported a 4 percent increase in first-quarter revenue due to a rise in demand for co-packing services and strong sales of its new Happy Water brand.

** DOT HILL SYSTEMS CORP, $2.75, up 10.4 pct (0935 ET)

The storage systems maker now expects earnings of 4 to 6 cents per share in the second quarter. The company had forecast profit of 2 cents per share to loss of 1 cent earlier.

“We expect to benefit from strength in sales to our telco and media and entertainment customers,” Chief Executive Dana Kammersgard said in a statement.

** MERRIMACK PHARMACEUTICALS INC, $5.95, down 15 pct (0951 ET)

The company said on Wednesday that it intends to offer $50 million of its common stock and $75 million in aggregate principal amount of convertible senior notes in concurrent underwritten public offerings.

** APOLLO GROUP, $19.33, up 8 pct (0934 ET)

The for-profit education company said the Higher Learning Commission, a member of the North Central Association of Colleges and Schools, reaffirmed the accreditation of its University of Phoenix through 2022-2023 academic year.

** ENDEAVOUR SILVER CORP, $3.27, up 6.8 pct (0934)

The Canadian miner said on Wednesday it was looking to cut costs for the second time this year as silver prices fall. The company said silver production rose 48 percent to 1,535,873 ounces and revenue rose 57 percent to $63.5 million in the second quarter.

** Celgene Corp, $135.43, up 8.5 pct (0935 ET)

The company said a late-stage trial of its cancer drug Revlimid met the main goal of improving survival in newly diagnosed blood cancer patients, potentially opening up the path for a wider use of the drug.

** DRAGONWAVE INC , $2.90, up 8.6 pct (1006 ET)

The telecom network equipment maker reported a narrower quarterly loss. The loss company’s narrowed to $6.7 million, or 17 cents per share, in the first quarter, from $12.6 million, or 35 cents per share, a year earlier.

“We are cautiously optimistic about DragonWave’s long-term business prospects given the company’s indications of a stronger funnel with three key customers embarking on network expansions,” Canaccord Genuity analysts wrote in a note to clients on Thursday.

** ADVANCED MICRO DEVICES INC, $4.19, up 5.5 pct (0935 ET)

Canaccord Genuity analysts raised their rating on the maker of microprocessors to “buy” from “hold,” saying the company is likely to benefit from Microsoft Corp’s plans to increase the number of Xbox gaming servers.

BofA Merrill raised the company’s stock to “buy” from “underperform”, according to Theflyonthewall.com.

** BARRICK GOLD CORP, up 6 pct


** GOLD FIELDS LTD, up 7 pct

** IAMGOLD CORP, up 5 pct

** YAMANA GOLD, up 6 pct

** ELDORADO GOLD, up 6 pct

** KINROSS GOLD, up 5 pct

** ALAMOS GOLD, up 6 pct





** ELDORADO GOLD CORP , $6.55, up 8 pct (1030 ET)

** RIO ALTO MINING LTD , $2, up 10 pct (1030 ET)

** GOLD FIELDS LTD , $5.22, up 7 pct (1030 ET)

Gold jumped to a near three-week high on Thursday as the dollar tumbled after the U.S. Federal Reserve signalled it would continue to pursue monetary stimulus. Spot gold climbed as much as 2.7 percent to $1,298.36, its highest since June 24.

Gold’s strength also pushed silver to a three-week high of $20.26 an ounce earlier - at 1140 GMT the metal was up 2.6 percent at $19.83.

** FREEPORT MCMORAN COPPER & GOLD, $28.41, up 4.11 pct (0939 ET)

Shares of one of the world’s largest copper producers rose as copper prices hit their highest level in nearly a month on Thursday, after the U.S. Federal Reserve chairman signaled a commitment to monetary stimulus for the foreseeable future, helping boost appetite for risky assets.

** ADTRAN INC, $23.47, up 3.6 pct (0943 ET)

Analysts at MKM Partners raised their rating on the network gear maker’s shares to “neutral” from “sell” following deal wins from Deutsche Telekom and AT&T.

The company reported better-then-expected second-quarter results due to growth in its inter-networking and broadband access products on Wednesday.

Goldman Sachs analysts raised their rating on the stock to “buy” from “neutral”, according to flyonthewall.com.

** PRICESMART INC, $87.25, down 5.2 pct (0949 ET)

The shopping warehouse club operator reported on Wednesday a third-quarter profit that missed analysts’ estimates.

** VOXX INTERNATIONAL CORP, $13.79, up 4.46 pct (0950 ET)

The audio equipment maker reported a better-than-expected first-quarter profit and said it was projecting modest sales increases this year.

**INTEROIL CORP, $70.10, up 3 pct (0954 ET)

The oil and gas company said it appointed former BP Plc employee Michael Hession as its chief executive officer. Hession joins after the company’s founder and CEO Phil Mulacek retired in April.

** SYNOVOUS FINANCIAL CORP, $2.90, down 3.3 pct (1018 ET)

Sterne Agee & Leach analyst Todd Hagerman said there is uncertainty on how the company will eventually repay the government under the Troubled Asset Relief Program. The structure of repayment could either be through cash on hand, debt or public offering or through a combination of these.

** HESS CORP, $70.16, up 2 pct (0944 ET)

JP Morgan upgraded the oil and gas company’s stock to “overweight” from “neutral”, according to Theflyonthewall.com. Hess, which was under fire from its third-largest investor Elliot Management, has announced plans to quit its retail and marketing business and focus on exploration and production.

** NOKIA OYJ , $4.22, up 2.0 pct (0945 ET)

Nokia is likely to unveil a new smartphone with a 41-megapixel camera, banking on advanced optics to make up for meager marketing resources and a limited range of phone apps. Analysts, however, are skeptical that a new camera for the flagship Lumia smartphone will be enough for the Finnish company to regain market share from rivals Samsung and Apple.

** LINEAR TECHNOLOGY CORP, $38.90, up 2 pct (0945 ET)

Brokerage Jefferies raised its rating on the semiconductor company to “buy”, and said it expects higher growth from the company’s higher margin automotive and industrial businesses.

** L BRANDS INC, $51.40, up 1.7 pct (0946 ET)

** COSTCO WHOLESALE CORP, $114.85, up 1.1 pct (0948 ET)

Sales at U.S. retailers, including Costco and L Brands, suggest that overall U.S. consumer spending is improving while discretionary spending may remain under pressure.

Gap Inc plans to report its June sales after the market closes on Thursday afternoon.

** MICROSOFT CORP, $35.20, up 1.4 pct

The company’s Chief Executive Steve Ballmer said he was streamlining the software and media company around devices like phones and game consoles and services in its first major overhaul in five years.

More than 14.3 million shares changed changed hands by 1053 ET.

** MICRON INC, $12.54, down 0.1 pct (1019 ET)

The memory chipmaker’s investors are concerned that prices of dynamic random access memory chips have tracked lower for the past few days, RBC Capital Markets analyst Earl Hege told Reuters.

Micron shares were the most traded on the Nasdaq, with more than 16 million Micron shares changing hands in early trade.

** MCGRAW HILL FINANCIAL INC, $56.65, up 1.4 pct (0952 ET)

The company said Douglas Peterson will replace Chief Executive Harold (Terry) McGraw, who will step down after reaching the mandatory retirement age of 65. Peterson is currently president of the company’s Standard & Poor’s ratings business. (Compiled by Lehar Maan; Editing by Sriraj Kalluvila)

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