Aug 6 (Reuters) - Some U.S. stocks on the move on Tuesday:
WALL ST DROPS AFTER COMMENTS FROM FED‘S LOCKHART
U.S. stocks slid to session lows following comments from Dennis Lockhart, president of the Atlanta Federal Reserve Bank, that the central bank could start reducing its bond-buying program as soon as September. The Dow Jones industrial average was down 104.05 points, or 0.67 percent, the Standard & Poor’s 500 Index was down 10.21 points, or 0.60 percent while the Nasdaq Composite Index was down 27.06 points, or 0.73 percent.
** THE WASHINGTON POST, $592.80, up 4 pct (1112 ET)
** AMAZON.COM INC, $298.83, down 1 pct (1117 ET)
Amazon.com Inc founder Jeff Bezos will buy The Washington Post newspaper for $250 million in a surprise deal that ends the Graham family’s 80 years of ownership and hands one of the country’s most influential publications to the businessman whose internet company has transformed retailing.
** FOSSIL GROUP INC, $127.87, up 19 pct (1001 ET)
The fashion accessory maker and retailer reported a better-than-expected quarterly profit as it sold more watches and jewelry in Europe and Asia. Fossil also raised its full-year profit outlook to $6.15-$6.35 per share from $6.00-$6.26 per share.
** AMERICAN EAGLE OUTFITTERS INC, $16.89, down 15 pct (1112 ET)
** AEROPOSTALE, $13.87, down 7 pct
** GAP INC, $45.25, down 2 pct
** ABERCROMBIE & FITCH $48.55, down 6 pct
** URBAN OUTFITTERS INC, $41.60, down 5 pct
** L BRANDS INC, $56.20, down 2 pct
** FOOT LOCKER INC, $35.15, down 6.5 pct (1312 ET)
** MACY‘S INC, $48.21, down 3 pct (1330 ET)
** J C PENNEY COMPANY INC, $13.02, down 6 pct (1334 ET)
Shares of U.S.-listed retailers fell on Tuesday, one day after American Eagle Outfitters said its second-quarter profit would be damaged by weak sales and margins.
** CHICO‘S FAS INC, $16.59, down 5 pct (1218 ET)
Janney Capital Markets downgraded the stock of the women’s apparel retailer to “neutral” from “buy”, saying it expects a still-weak consumer environment to pressure the company’s earnings for the rest of the year. The brokerage lowered the price target on the stock to $19 from $22.
** SONY CORP, $20.59, down 5 pct (1003 ET)
Sony rejected a proposal from activist shareholder Daniel Loeb to partially spin off its entertainment business but the billionaire investor vowed to keep talking with the company and to explore other options.
** INTERNATIONAL BUSINESS MACHINES CORP, $191.49, down 2 pct (1010 ET)
Credit Suisse downgraded IBM to “underperform” from “neutral,” saying organic growth would be challenging in the future. The firm cut its price target on the Dow component by $25 to $175.
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $75.61, up 3 pct (1241 ET)
Cognizant Technology Solutions Corp reported better-than-expected quarterly results and raised its forecast for the year as clients in North America invest more in IT services and software, encouraged by a steady economic recovery.
** NAUTILUS INC, $6.74, down 25 pct (0950 ET)
The fitness products company’s second-quarter revenue fell 8 percent as declining sales in its retail business offset the impact of growth in the company’s direct business. Sales in the retail business fell 27.5 percent while sales through TV advertising, catalogs and the Internet rose 2.5 percent.
** TRAVELCENTERS OF AMERICA LLC $8.69, down 26 pct (1030 ET)
The truck-stop operator second-quarter profit fell far short of analysts expectations. TravelCenters’ EBITDAR (earnings before interest, taxes, depreciation, amortization, and rent) fell 8 percent, hurt by a decline in fuel gross margin per gallon. It also took higher depreciation and amortization expenses in the quarter, the company said.
** COMMTOUCH SOFTWARE LTD, $2.53, down 16.5 pct (1046 ET)
The Israel-based software provider reported a lower-than-expected quarterly adjusted profit and cut its full-year revenue forecast, citing weak sales.
** SKILLED HEALTHCARE GROUP INC, $5.47, down 16 pct (0955 ET)
The healthcare services provider’s second-quarter results were way below analysts’ expectations because of weakness in occupancy rates at the company’s skilled nursing facilities and delay in payments. Skilled Healthcare’s full-year profit and revenue forecasts were also much below analysts’ estimates.
** VOCERA COMMUNICATIONS INC, $16.39, up 15.4 pct (1112 ET)
Wells Fargo raised its rating on the stock of the company, which provides mobile technology to hospitals, to “outperform” from “market perform”, according to Theflyonthewall.com.
** JAMBA INC, $13.60, down 15 pct (1059 ET)
The operator of Jamba Juice stores reported quarterly results that missed Wall Street estimates as comparable-store sales growth slowed. System-wide comparable store sales rose 1.7 percent in the second quarter, compared with a 5.1 percent jump a year earlier. Excluding items, the company earned 36 cents per share on revenue of $67.3 million. Analysts on average had estimated 37 cents per share on revenue of $70.4 million.
** AECOM TECHNOLOGY CORP, $30.33, down 14 pct (1247 ET)
The construction technology company cut its full-year earnings forecast, citing deterioration in mining business in Australia and slower execution of backlog in the Americas.
** RITCHIE BROS AUCTIONEERS INC, $19.88, up 7 pct (1337 ET)
The Canadian company, which auctions industrial equipment to Caterpillar Inc and Komatsu Ltd, posted a second-quarter profit that beat analysts’ estimates and raised its quarterly dividend. On an adjusted basis, the company earned 28 cents per share, above analysts’ expectations of 27 cents per share, according to Thomson Reuters I/B/E/S. The company raised its dividend to 13 cents from 12.25 cents per share.
** SPHERIX INC, $22.51, up 13 pct (1255 ET)
Spherix shares rose for the second day after intellectual property development firm North South Holdings Inc, which is to be bought by Spherix, said it filed a patent infringement complaint against No. 4 U.S. mobile operator T-Mobile USA Inc . The stock rose 66 percent on Monday.
** CHECKPOINT SYSTEMS INC, $15.45, down 13 pct (1315 ET)
The software company reported second-quarter adjusted earnings below analysts’ expectations, hurt by lower revenue at its apparel labeling solutions business.
** TREX CO INC, $44.15, down 13 pct (1231 ET)
The maker of wood-alternative decking and railing products reported a lower-than-expected quarterly profit due to higher expenses.
** GT ADVANCED TECHNOLOGIES INC, $5.79, up 11.8 pct (1259 ET)
Piper Jaffray analysts raised their price target on the light emitting diode equipment maker’s stock to $5 from $3.70.
** ALBANY MOLECULAR RESEARCH INC, $11.39, down 12 pct (1053 ET)
The contract research company forecast weaker-than-expected revenue for this year, overshadowing a quarterly profit beat.
** CORNERSTONE THERAPEUTICS INC, $9.37, up 10 pct (1006 ET)
The pharmaceutical company reported better-than-expected second-quarter results due to higher sales of its hypertension drug Cardene, respiratory drug Curosurf and asthma drug Zyflo.
** TIDEWATER INC, $55.18, down 9.6 pct (1222 ET)
The offshore vessels provider reported an 8.5 percent drop in first-quarter profit as it recorded a charge of $3.7 million as transaction fees related to the acquisition of Troms Offshore Supply AS.
** GLOBAL GEOPHYSICAL SERVICES INC, $3.83, down 9 pct (1104 ET)
The company, which provides seismic data to oil and gas producers, said revenue fell 35 percent in the second quarter, primarily due to a decrease in crew activities in Colombia and Brazil.
** MIDSTATES PETROLEUM CO INC, $5.09, down 9 pct (1150 ET)
The oil and gas producer posted a second-quarter adjusted loss as total expenses more than doubled. Analysts were expecting the company to report a profit.
** EXTERRAN HOLDINGS INC, $29.50, down 8 pct (1305 ET)
The company, which provides natural gas compression services, said reduced backlog and bookings will depress fourth-quarter revenue in its fabrication business from second-quarter levels. The business, which makes compression units, contributed about 55 percent to second-quarter revenue.
** MEDIDATA SOLUTIONS INC, $86.49, down 8 pct (1256 ET)
The company, which provides software to drugmakers for clinical analysis, said it plans to offer $200 million convertible senior notes due 2018 in a private placement.
Upon conversion, the notes will be settled in cash, shares of Medidata’s common stock or any other combination.
** TITAN MACHINERY, $17.86, down 8 pct (1216 ET)
William Blair downgraded the stock of the farm equipment maker to “underperform” from “market perform”, saying challenges such as falling corn prices and used equipment values would hurt the company’s earnings.
The brokerage has cut its price target on the stock to $15 from $20.
** SNYDER‘S-LANCE INC, $29.33, down 8 pct (1207 ET)
The snack foods maker reported lower-than-expected results for the second quarter. Excluding items, the company earned 24 cents per share. Analysts on average had expected 28 cents per share, according to Thomson Reuters I/B/E/S. Revenue rose 9.9 percent to $439.1 million but fell short of market estimate of $446.4 million.
** BOS BETTER ONLINE SOLUTIONS LTD, $5.00, up 74 pct (1314 ET)
** VERENIUM CORP, $3.12, up 36 pct (1323 ET)
** EFUTURE INFORMATION TECHNOLOGY INC, $3.15, up 7 pct (1323 ET)
** HELIOS AND MATHESON ANALYTICS INC, $6.25, up 40 pct (1317 ET)
Four microcap companies which trade on the Nasdaq were halted earlier on Tuesday after triggering the exchange’s circuit breaker pause due to large price swings.
** USEC INC, $16.67, down 8 pct (1007 ET)
The enriched uranium fuel supplier said on Monday that it expects to record additional charges against earnings in the coming months as it returns an enrichment plant to the U.S. Department of Energy. The company posted a second-quarter loss after it failed to extend an agreement for uranium enrichment at the plant.
** EXCO RESOURCES INC, $8.10, down 8 pct (1010 ET)
The oil and gas producer posted a lower-than-expected quarterly profit as output fell 24 percent in the second quarter, due to lower production from fields in East Texas and North Louisiana region.
** AKORN INC, $15.27, up 7 pct (1252 ET)
The pharmaceutical company posted better-than-expected second-quarter results mainly because of strong sales of its newly launched products.
** INTERCONTINENTAL HOTELS GROUP, $31.18, up 6 pct (1117 ET)
The world’s biggest hotelier posted a big rise in first-half profit on strong demand in the United States and said it would return $350 million to shareholders via a special dividend.
** APPLIANCE RECYCLING CENTERS OF AMERICA INC, $2.79, up 5 pct (1031 ET)
The provider of appliance disposal services reported a second-quarter profit of $800,000, or 13 cents per share, compared with a loss of $600,000, or 12 cents per share, a year earlier. Revenue rose 9.2 percent to $32.3 million, boosted by the strong performance of the company’s appliance replacement programs.
** MGM RESORTS INTERNATIONAL, $17.38, up 5 pct (1049 ET)
The casino operator’s second-quarter loss narrowed as revenue jumped 18 percent in China. The company reported a loss of 19 cents per share in the second quarter, compared with 30 cents per share a year earlier.
** ENDEAVOUR SILVER CORP,$3.47, down 6.4 pct (1138 ET)
** BARRICK GOLD CORP, $15.85, down 3.3 pct
** YAMANA GOLD INC, $9.11, down 5.7 pct
** IAMGOLD CORP, $4.53, down 5.2 pct
** SILVER STANDARD RESOURCES INC, $6.7,down 4.8 pct
** RANGOLD RESOURCES LTD, $67.98, down 4.6 pct
Gold extended losses to a 2-1/2-week low on Tuesday, as data showing economic growth on both sides of the Atlantic dented the metal’s appeal as a safe haven and triggered technical selling. Spot gold fell as much as 1.9 percent to its lowest since July 18 at $1,279.24 an ounce earlier. U.S. gold futures for December fell $22.10 to $1,280.30 an ounce.
** SPIRIT AEROSYSTEMS HOLDINGS, $24.57, down 4 pct (1125 ET)
The supplier of parts to Boeing Co and Airbus said it plans to divest its Oklahoma operations, including sites in Tulsa and McAlester, to improve operations and drive down costs.
** MOLSON COORS BREWING CO, $52.38, up 4 pct (1124 ET)
The company reported a higher-than-expected quarterly profit on Tuesday as last year’s Central European acquisition offset weak beer demand that the company expects to persist through the end of the year.
** NORTHSTAR REALTY FINANCE CORP, $9.60, down 3 pct (1059 ET)
The diversified commercial real estate investment company priced its offering of 35 million common shares at $9.60 each, a 3 percent discount to its Monday’s close. The company intends to use the net proceeds for debt repayment, investments and for general corporate purposes. Northstar Realty had 199.44 million shares outstanding, as of August 2.
** NATIONSTAR MORTGAGE HOLDINGS INC, $49.75, up 2.15 pct (1010 ET)
The residential mortgage servicer reported better-than-expected quarterly results as the company earned more service fees. Net income rose to $123.5 million in the second quarter from $36.3 million a year earlier.
** ALLOT COMMUNICATIONS LTD, $14.01, down 10 pct (1000 ET)
The company, which supplies technology that allows telecom operators to monitor and allocate bandwidth, reported a 23 percent fall in second-quarter revenue as a top customer in the company’s Europe, Middle East and Africa business delayed payment.
** MCDERMOTT INTERNATIONAL INC, $7.22, down 17 pct (0956 ET)
The construction company reported a surprise second-quarter loss after it took charges for some projects in its Middle East and Asia Pacific businesses. The company also said Chief Operating Officer John McCormack would retire in the fourth quarter after 10 years with the company.
** INTERACTIVE INTELLIGENCE GROUP, $65.99, up 14 pct (1001 ET)
The telecom software maker estimated second-quarter results above market expectations on Monday on higher orders for its cloud-based products. Two brokerages raised their price targets on the stock on Tuesday.
** QUICKSILVER RESOURCES INC, $1.61, up 7 pct (0958 ET)
The natural gas producer reported a quarterly profit, compared with a loss a year earlier, when it took a $1.2 billion charge to write down the value of its gas assets. The company, which has been looking for joint venture partners to fund drilling, also said a bidding process was on for its assets in the Horn River Basin in Canada.
** PDC ENERGY INC, $54.65, down 5 pct (0958 ET)
The U.S. oil and gas producer late on Monday increased the size of its public offering by 20 percent to 4.5 million shares, for gross proceeds of $243 million. The offering is expected to close on or around August 9, PDC Energy said.
** STONE ENERGY CORP, $28.00, up 9 pct (0957 ET)
The oil and gas company’s second-quarter profit rose as output from the Marcellus shale field in eastern United States helped raise production by 12 percent.
** RESPONSYS INC, $15.61, up 6 pct (1002 ET)
The company, which provides marketing-based software and online services, reported on Monday better-than-expected quarterly revenue, and raised its revenue forecast for the full year, citing increased traction with new customers as well as strong usage by existing customers.
** MICHAEL KORS HOLDINGS LTD, $69.98, up 3 pct (1000 ET)
The fashion company’s quarterly profit nearly doubled as sales were helped by the roll-out of shops within department stores and gains in Europe.
** REGENERON PHARMACEUTICALS INC, $255.03, down 6 pct (1243 ET)
The explosive growth in the sales of Regeneron Pharmaceuticals Inc’s Eylea eye drug slowed in the second quarter as existing patients moved to less-frequent dosing, sending the company’s shares down 6 percent in early trading.
** DSW INC, $80.42, up 4 pct (0952 ET)
The footwear retailer raised its full-year earnings forecast range to $3.60 to $3.80 per share, excluding one-time charges, from $3.40 to $3.60 per share.
** HARMAN INTERNATIONAL INDUSTRIES, $60.95, up 2 pct (0953 ET)
Audio equipment maker Harman International Industries Inc , whose brands include JBL and Harman Kardon, reported better-than-expected quarterly results as demand rose for its vehicle systems. (Compiled by Rohit T.K. in Bangalore; Editing by Don Sebastian)