July 24, 2013 / 2:19 PM / 4 years ago

MARKET PULSE-Apple, Maidenform, VMware, Boeing, Transition Therapeutics

(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/neh89t)

July 24 (Reuters) - Some U.S. stocks on the move on Wednesday:


U.S. stocks rose at the open as Apple’s results boosted tech shares and positive euro-zone economic data boosted market sentiment. The Dow Jones industrial average rose 0.19 percent, the S&P 500 0.32 percent and the Nasdaq Composite 0.72 percent.

** APPLE INC, $437.5, up 4.4 pct (0931 ET)

Apple shares opened higher after the technology company’s third-quarter profit beat analysts’ expectations due to stellar sales of its iPhones.

** DELL INC, $12.81, down 0.54 pct (0932 ET)

The company’s founder Michael Dell pushed for easier voting rules to help him win his battle to take the PC maker private and offered a token 10 cents more per share to sweeten his $24 billion bid.

** HANESBRANDS INC, $57.69, up 8 pct (1011 ET)

** MAIDENFORM BRANDS INC, $23.32, up 22 pct (0933 ET)

Hanesbrands, whose labels include the Wonderbra, said it will buy lingerie company Maidenform Brands Inc for $547 million to boost its product line up.

** BOEING CO, $109.10, up 1 pct (0934 ET)

Boeing posted a better-than-expected 13 percent jump in quarterly profit after delivering more commercial jets, shrugging off concerns about the 787 Dreamliner and sending its shares up to an all-time high.

For a graphic: link.reuters.com/reh89t

** FORD MOTOR CO, $17.41, up 3 pct (0936 ET)

The maker of the top-selling F-150 pickup truck reported a better-than-expected second-quarter profit, buoyed by truck sales, higher vehicle prices and stronger results outside the core North American operations.

** CATERPILLAR INC, $84.12, down 1.6 pct (0939 ET)

Caterpillar reported a 43.5 percent drop in quarterly profit and cut its outlook for the year, saying its dealers were still reducing inventories and demand was weak from the mining industry.

** BROADCOM CORP, $28.00, down 12 pct (0940 ET)

At least four brokerages cut their rating and about 10 brokerages lowered their price targets on the chipmaker’s stock, after the company forecast lower-than-expected third-quarter revenue on Tuesday, underscoring concerns on Wall Street that smartphone growth might be waning.

** VMWARE INC, $80.45, up 13 pct (0941 ET)

The cloud software maker raised the high end of its full-year revenue forecast range after reporting a stronger-than-expected second-quarter profit, saying federal government demand and enterprise deals were likely to pick up in the second half.

** T. ROWE PRICE GROUP INC, $76.08, down 4.4 pct (0942 ET)

The asset manager posted a 20 percent rise in its second-quarter profit but reported a net outflow of investor cash.

** NORTHROP GRUMMAN CORP, $90.45, up 2 pct (0943 ET)

Northrop Grumman, one of the largest U.S. weapons makers, reported higher second-quarter earnings on Wednesday and raised its forecast for the full year, despite Pentagon budget cuts.

** TRANSITION THERAPEUTICS INC, $4.82, up 21 pct (0943 ET)

The Canadian biopharmaceutical company said it acquired development and marketing rights for Eli Lilly’s experimental drug for arthritis pain.

** AT&T INC, $35.14, down 2 pct (0944 ET)

The company posted a quarterly profit on Tuesday that missed Wall Street expectations as it was hit by rising costs, and its shares fell 1 percent in late trade.

** PANERA BREAD CO, $169.32, down 7 pct (0945 ET)

Panera on Tuesday reported a quarterly profit that missed analysts’ views and cut its full-year forecast after sales growth at company-owned bakery-cafes fell short of expectations.

** EMC CORP, $26.99, up 7 pct (0948 ET)

The world’s largest data storage equipment maker reported a quarterly profit that met analysts’ expectations, helped by growth at its cloud software unit, VMware Inc.

** WELLPOINT INC, $88.70, up 1.36 pct (0949 ET)

The company reported a much higher-than-expected quarterly profit, helped by lower-than-forecast medical costs in its employer-based insurance business and improvements in Medicaid operations after the purchase of Amerigroup in December.

** ELI LILLY & CO, $52.34, up 2.6 pct (0950 ET)

The company reported higher-than-expected quarterly earnings, helped by cost cuts and strong sales growth of Cymbalta, a depression treatment that will soon lose patent protection, and the drugmaker raised its full-year profit forecast.

** ELECTRONIC ARTS INC, $25.88, up 9 pct (0951 ET)

The video game publisher said its first quarter loss was narrower than Wall Street expectations because of strong cost controls and digital sales that offset weak revenue from packaged games.

** POLYCOM INC, $9.95, down 11 pct (0951 ET)

Brokerages BMO Capital Markets and UBS Investment Research cut their price target on the videoconferencing company’s stock after it said on Tuesday that Chief Executive Andrew Miller has stepped down after irregularities were found in his expense submissions.

The company posted second-quarter results that beat analysts’ estimates due to higher demand for its products.

** EVERCORE PARTNERS INC, $45.76, up 3.6 pct (0952 ET)

The boutique investment bank posted higher-than-expected second-quarter profit due to higher revenue from investment banking and management.

Investment banking revenue rose 19 percent to $180.03 million on an adjusted pro forma basis.

** DELTA AIR LINES INC, $21.53, up 5 pct (0953 ET)

Delta Air reported a higher-than-expected quarterly profit as fuel costs fell and it held down other expenses.

** ILLUMINA INC, $79.55, up 8 pct (0955 ET)

The life sciences tools maker on Tuesday reported second-quarter results that beat analysts’ estimates as product sales rose. The company also raised its full-year earnings and revenue forecast.

Illumina said it bought Advanced Liquid Logic, a provider of liquid handling solutions, but did not disclose any deal value.

Credit Suisse, ISI Group and Mizuho raised their price targets on the company’s stock.

** HATTERAS FINANCIAL CORP, $20.25, down 11 pct (0956 ET)

The mortgage real estate investment trust reported a 27 percent fall in its second-quarter profit as the company earned lower interest income on mortgage-backed securities and incurred higher interest expenses.

Net interest income fell 23 percent to $63.4 million while interest expenses rose 13 percent to $52.08 million.

** SEAGATE TECHNOLOGY PLC, $42.53, down 6 pct (0957 ET)

The hard disk drive maker reported slightly better-than-expected quarterly results, but shipments dropped 18 percent from a year earlier.

** RADIAN GROUP INC, $14.32, up 4 pct (0957 ET)

The biggest private U.S. mortgage insurer posted a surprise quarterly adjusted profit, helped by a rise in premium income, and said new business it wrote after the housing bust accounted for more than half of its portfolio.

** MOTOROLA SOLUTIONS INC, $56.23, down 6 pct (0958 ET)

The communications gear maker cut its full-year sales forecast for the second time as it struggled with a slowdown in sales to businesses, and posted quarterly revenue below analysts’ estimates.

** MGIC INVESTMENT CORP, $7.60, up 3.5 pct (0959 ET)

The mortgage insurer on Tuesday posted its first quarterly profit in almost three years as fewer people defaulted on their home loans.

Susquehanna Financial Group analysts upgraded the company’s stock to “positive” from “neutral” and raised their price target to $12 from $5 as MGIC returned to profitability sooner than expected.

** LUMBER LIQUIDATORS HOLDINGS INC, $95.08, up 10 pct (0959 ET)

The hardwood flooring retailer’s second-quarter results beat Wall Street estimates as the company’s products worked well with shoppers during the spring remodelling season, and lower product costs and retail price hikes boosted margins.

The company also raised its full-year earnings per share outlook to between $2.45 and $2.60 from $2.10 and $2.35.

** TUPPERWARE BRANDS CORP, $82.77, up 3.48 pct (0949 ET)

The company, known for its brightly colored containers that store food, reported second-quarter results that beat Wall Street expectations due to continued growth in emerging markets, particularly South America and Asia.

** GENTEX CORP, $23.98, up 2.7 pct (0936 ET)

The company, which makes rear-view mirrors that reduce glare, reported better-than-expected quarterly results as it shipped more automotive mirrors and said it expects current quarter revenue to remain unchanged or rise by up to 5 percent.

Gentex shipped 10 percent more automotive mirrors in the second quarter.

** ALLEGHENY TECHNOLOGIES INC, $25.83, down 7.4 percent

The specialty metals producer reported a 92 percent drop in quarterly profit as a demand-supply imbalance resulting in lower prices for its products weighed on margins.

** ROBERT HALF INTERNATIONAL INC, $37.62, up 5 pct (1000 ET)

The staffing company on Tuesday reported second-quarter results that beat analysts’ estimates.

BMO Capital Markets raised its price target on the company’s stock to $40 from $37. (Compiled by Rohit T.K. in Bangalore; Editing by Maju Samuel)

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