(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/nex49s) U.S. stocks edged lower on Tuesday after the Dow briefly broke above a key level for a second day and shares of Best Buy dropped on worries about its margins. The Dow Jones industrial average was down 0.11 percent, the Standard & Poor's 500 Index 0.26 percent and the Nasdaq Composite Index 0.47 percent.
** TESLA MOTORS INC, $123.94, up 2 pct (1:34 p.m. ET)
U.S. auto safety regulators have launched an investigation into the electric sports car maker’s luxury Model S sedan after three car fires in six weeks, and Tesla announced it is raising the vehicle’s ground clearance. The company’s shares fell in premarket trading on Tuesday following the news but they were up 3.5 percent in early-afternoon dealings.
The company’s shares have fallen 37 percent since reports of the first fire on Oct. 2. They had jumped almost five times in the seven months to their Oct. 1 close.
** BEST BUY CO INC, $39.69, down 9 pct (1:11 p.m. ET)
The world’s largest consumer electronics chain said it would be competitive on prices during the holiday season as promotional activity by rivals grows fierce, but warned it could hurt margins in the fourth quarter.
For a graphic on earnings, (link.reuters.com/jet74v)
** HOME DEPOT INC, $80.69, up 1.3 pct (1:20 p.m. ET)
A recovery in the U.S. housing market helped the company to top profit and sales estimates for the third quarter, prompting the No. 1 home improvement chain to raise its fiscal-year outlook for the third time this year.
** CAMPBELL SOUP CO, $39.25, down 6.1 pct (1:07 p.m. ET)
The world’s largest soup maker cut its full-year profit forecast after a drop in demand for its soups and drinks resulted in first-quarter earnings that fell far short of analyst estimates.
** INTELLIPHARMACEUTICS INTERNATIONAL INC, $4.26, up 125 pct (1:07 p.m. ET)
The Canadian company said late on Monday that it received approval from the U.S. Food and Drug Administration to sell the generic version of Novartis Pharmaceuticals Corp’s drug, Focalin XR. Commercial sale of Focalin, used to treat attention deficit hyperactivity disorder, will be launched by Intellipharmaceutical’s U.S. partner Par Pharmaceutical Inc.
** SPHERIX INC, $10.74, up 46 pct (1:07 p.m. ET)
The lifesciences company said it settled a patent dispute with a technology company it did not name. Spherix said it would license the patent, which accepts refill requests for online prescriptions.
** EVOKE PHARMA INC, $11.46, up 10.6 pct (1:09 p.m. ET)
Brokerage Aegis Capital started coverage of the drugmaker with a “buy” rating and an 18-month price target of $60 per share, saying that the U.S. health regulator has indicated that a single pivotal trial for its experimental gastrointestinal drug would be enough to support a marketing application.
Analyst Raghuram Selvaraju said the company’s only late-stage experimental drug EVK-001 could reach the market in late 2016 and generate over $400 million in annual sales.
** HORIZON PHARMA INC, $5.83, up 30 pct (1:10 p.m. ET)
** POZEN INC, $6.69, up 14.7 pct
Horizon said it would buy the right to market AstraZeneca Plc’s arthritis drug Vimovo in the United States for an upfront payment of $35 million. Horizon will also pay 10 percent royalty on net sales of the drug to Pozen, which licensed the drug to AstraZeneca in 2010.
** CHINACACHE INTERNATIONAL HOLDINGS LTD, $7.19, down 17 pct (1:11 p.m. ET)
The content delivery network and cloud computing provider reported an adjusted loss of 16 million yuan ($2.6 million) in the third quarter, compared with a profit of 12.6 million yuan a year earlier.
** CARDIOME PHARMA CORP, $4.95, up 23 pct (1:54 p.m. ET)
The Canadian biopharmaceutical company said has acquired privately held Swiss pharmaceutical company Correvio LLC for $12 million. The deal will serve as a potential platform to accelerate the launch of its heart drug Brinavess, Cardiome Pharma said in a statement late on Monday.
** LIGHTINTHEBOX HOLDING CO LTD, $7.86, down 21 pct (1:55 p.m.)
The online retailer reported a surprise third-quarter loss and forecast fourth-quarter revenue below analysts’ average estimates due to lower orders and higher costs. “The average order size dropped from more than $50 to around $43,” the company said on a post-earnings conference call.
** RADCOM LTD, $4.83, up 9.1 pct (1:56 p.m. ET)
The Israel-based company, which makes test equipment and software for computer networks, said it won orders worth $3.6 million from a Tier 1 telecom operator based in Asia.
** VOXELJET AG, $58.99, down 13.7 pct (01:25 p.m. ET)
A Motley Fool article from late Monday titled "voxeljet AG Skyrockets: Has Wall Street Lost Its Mind?" said investors should look at the long term when investing in small, cyclical companies such as voxeljet, instead of focusing on quarterly results. (link.reuters.com/hev74v)
Shares of the company have risen more than 12 percent since it reported results last week.
** VISIONCHINA MEDIA INC, $8.84, down 13 pct (1:12 p.m. ET)
The China-based outdoor digital advertising company reported a 14 percent fall in revenue on an annualized basis due to a fall in average advertising revenue per broadcasting hour.
** HOLLYSYS AUTOMATION TECHNOLOGIES LTD, $18.04, up 12 pct (1:17 p.m. ET)
The automation services provider reported a 28 percent jump in first-quarter revenue and said orders booked by its industrials business rose 20 percent.
** EQUAL ENERGY LTD, $4.9, up 10.6 pct (1:12 p.m. ET)
The Oklahoma-based oil and gas producer said it found a suitable option to consider from its strategic alternatives process. Equal Energy neither disclosed the option nor named the company it was negotiating with. The exclusive negotiation will continue until early December, the company said.
** MTR GAMING GROUP INC, $5.73, up 9.5 pct (12:27 p.m E.T)
The gaming company amended its merger agreement with Eldorado HoldCO LLC to increase the cash consideration to MTR stockholders by $5 million to $35 million. The amendment also increases proforma ownership of MTR stockholders in the combined company to about 43 percent from about 39 percent.
Under terms of a Sept. 9 agreement, MTR will combine with the parent company of Eldorado Resorts LLC in a stock merger. MTR Gaming’s stockholders have the right to select $5.15 per share, subject to a cap of 5.8 million shares.
** NOAH HOLDINGS LTD, $20.52, down 9 pct (1:11 p.m. ET)
The Chinese wealth management service provider’s operating expenses for the third quarter rose nearly 50 percent to $24.5 million even as quarterly profit almost doubled to $13.9 million.
** RESOURCE AMERICA INC, $9.09, up 8.1 pct (12:17 p.m. ET)
The asset manager reported a quarterly profit, reversing a year earlier loss, as it earned higher revenue from its real estate and financial fund management unit.
The company reported total assets under management of $16.5 billion, up from $15 billion a year earlier.
** OILTANKING PARTNERS LP, $58.64, down 8.5 pct (1:18 p.m. ET)
The pipeline and storage company late on Monday said it would offer 2.6 million units representing limited partner interests in an underwritten public offering. The proceeds would be used to buy additional units, pay down debt and fund ongoing projects, the company said.
** 3D SYSTEMS CORP, $74.32, down 8 pct (1:51 p.m. ET)
A Seeking Alpha article said the surge in the company's share price this month was on rumors of IBM Corp's interest in taking over the 3D printer company, but the rumors were baseless and so investors should not consider buying the stock right now. (link.reuters.com/pev74v)
Shares of the company have risen 13 percent since Benzinga reported unconfirmed market chatter about the likely acquisition. (link.reuters.com/pev74v)
** SCIENTIFIC GAMES CORP, $16.89, down 7.4 pct (11:29 a.m. ET)
The company, which provides lottery and gaming services, said David Kennedy will replace Lorne Weil as Chief Executive with immediate effect.
Scientific Games also said the roles of chairman and chief executive officer would be separated and named billionaire financier Ronald Perelman as chairman.
The company did not say why Weil was leaving.
** ALBANY MOLECULAR RESEARCH INC, $12.92, down 7 pct (10:15 a.m. ET)
The company said it will offer $100 million of cash convertible senior notes due 2018. Albany expects to grant the initial purchasers an option to buy up to an additional $15 million of the notes, solely to cover over-allotments, if any.
** DATAWATCH CORP, $32.08, down 7 pct (10:23 am ET)
The enterprise data analytics software maker’s fourth-quarter net loss widened to 37 cents per share from 4 cents per share a year earlier. The company also reported a net loss of 63 cents per share for the full year, compared with a profit of 15 cents per share last year.
** JACOBS ENGINEERING GROUP INC, $59.28, down 7 pct (12:22 p.m. ET)
The technical, professional, and construction services provider reported fourth-quarter profit below analysts’ expectations due to higher costs.
** SIMULATIONS PLUS INC, $4.93, down 6.6 pct (11:56 a.m. ET)
The company, which sells drug discovery and development software, reported lower-than-expected revenue in the third quarter, hurt in part by a delay in a large upgrade order.
** KOREA ELECTRIC POWER CORP, $15.03, up 6.5 pct (1:06 p.m.)
South Korea said it will hike electricity tariffs in its latest bid to avert power blackouts and cut losses that have mounted to billions of dollars for the state-run power company. South Korea’s power tariffs, which are below generating costs and about half those of other developed nations, have pushed up demand and steered Korea Electric Power into a financial rut.
Separately, state-run Korea Deposit Insurance Corp (KDIC) will sell its remaining stake in the company for up to $260 million, according to a term sheet of the deal seen by Reuters.
** ANTHERA PHARMACEUTICALS INC, $2.90, down 6.4 pct (11:41 a.m. ET)
A report on investment website The Street said that patients with acute coronary syndrome were more likely to suffer heart attacks, strokes or die after being treated with Anthera's experimental heart drug, varespladib, according to results from a late-stage study. The results were presented by Anthera on Monday night at the American Heart Association Scientific Sessions. (r.reuters.com/pav74v)
In March 2012, Anthera halted the late-stage study early, citing lack of efficacy of varespladib, The Street report said.
** BROCADE COMMUNICATIONS SYSTEMS INC, $8.66, up 7 pct (1:15 p.m. ET)
The network equipment maker reported better-than-expected fourth-quarter results due to higher gross margins and lower costs.
At least two brokerages raised their price targets on the company’s stock. While BMO Capital Markets analyst Keith Bachman was skeptical about Brocade’s revenue growth, he said the company “can manage opex and drive margins higher”.
Bachman raised his price target on the stock to $9.25 from $8.75, with a “market perform” rating.
** COMMONWEALTH REIT, $24.56, up 6 pct (11:35 a.m. ET)
The office building operator said late on Monday that an arbitration panel ruled that a consent solicitation by activist investor Keith Meister and real estate major Related Cos to remove the company’s board of trustees “was not properly conducted and cannot be validated.”
CommonWealth REIT also said it would increase the size of its board so that independent trustees will represent at least 75 percent of total trustees.
Related and Meister’s Corvex Management LP, which together own about 9.6 percent of CommonWealth shares, bid for the company earlier this year and said they would pursue the removal of the company’s board if it was not open to being acquired by them or another buyer.
Corvex and Related said on Monday that they would pursue a new solicitation and file a preliminary consent solicitation statement with the U.S. Securities and Exchange Commission.
** UNITED CONTINENTAL HOLDINGS, $38.85, up 6.7 pct (1:11 p.m. ET)
The parent company of United Airlines said its costs will fall by $2 billion every year and that it may issue dividends by 2015, as the airline cuts fuel consumption and sourcing costs and increases productivity.
** DEMANDWARE INC, $60.56, down 5 pct (11:21 a.m. ET)
The company, which makes software that powers e-commerce sites, said on Monday it is making a public offering of 3.3 million shares.
The offering is expected to consist of 2.5 million shares to be offered by Demandware and 810,098 shares to be offered by certain selling stockholders, the company said.
** DIANA SHIPPING INC, $10.99, down 5 pct (01:55 p.m. ET)
The dry bulk shipper reported a net loss for the third quarter, compared with profit a year earlier, primarily due to lower time charter rates earned by its ships that transport commodities such as coal, grains and iron ore.
** AUTONAVI HOLDINGS LTD, $15.12, up 4.7 pct (11:11 a.m. ET)
The Chinese digital mapping and navigation firm reported better-than-expected third-quarter revenue buoyed by an increase in monthly active users of its application.
** TESORO LOGISTICS LP, $50.06, down 5.5 pct (1:17 p.m. ET)
The pipeline and storage company late on Monday said it would offer 6.3 million units representing limited partner interests in an underwritten public offering.
** VAIL RESORTS INC, $75.98, up 4 pct (12:09 p.m E.T)
Credit Suisse upgraded its rating on the mountain resort operator’s stock to “outperform” from “neutral” and raised its price target to $81 from $71 as it expects the company to gain from rising demand from international travelers and an improving Denver economy.
** MEMORIAL PRODUCTION PARTNERS LP, $19.60, down 4.1 pct (1:17 p.m. ET)
The company, formed to acquire and develop oil and natural gas properties, said late on Monday that it would offer about 7.1 million of common units representing limited partner interests.
** SOLARCITY CORP, $48.93, down 4 pct (10:45 a.m. ET)
Republican Alabama Senator Jeff Sessions sent a letter on Monday to Treasury Secretary Jacob Lew questioning taxpayer-funded grants received by the solar-panel installer, according to Nov. 18 edition of U.S weekly newspaper Barron's. (r.reuters.com/qyt74v)
** GW PHARMACEUTICALS PLC, $34.33, down 4 pct (10:31 a.m. ET)
The biopharmaceutical company posted a wider quarterly loss as research and development expenditure rose more than 60 percent.
** STANDARD PARKING CORP, $24.02, down 5.5 pct (1:07 p.m. ET)
The company, which provides parking management, ground transportation and other ancillary services, reported third-quarter profit below analysts’ estimates as selling, general and administrative costs rose 49 percent.
** VISHOP HOLDINGS LTD, $83.32, down 4 pct (10:57 a.m E.T.)
HSBC began coverage on the Chinese online discount retailer’s stock with an “overweight” rating, according to Theflyonthewall.com.
** SALESFORCE.COM INC, $53.79, down 3 pct (1:18 p.m. ET)
The San Francisco-based cloud computing company forecast fourth-quarter revenue to come in slightly better than analysts’ projections, helped by a strong performance by newly acquired email marketing firm ExactTarget.
** AERIE PHARMACEUTICALS INC, $11.00, up 3.6 pct (10:31 a.m. ET)
At least three brokerages initiated coverage on the company’s stock with “buy” ratings, citing the potential of its experimental glaucoma drug.
“We believe AERI’s product candidates could demonstrate greater efficacy, safety and convenience than currently available glaucoma drugs,” RBC Capital Markets analyst Adnan Butt wrote in a note. He started his coverage with an “outperform” rating.
* DAKTRONICS INC, $13, up 3.3 pct (1:11 p.m. ET)
The supplier of electronic displays and scoreboards reported better-than-expected quarterly results, helped by strong growth in orders.
** BOSTON SCIENTIFIC CORP, $11.97, up 3 pct (12:03 p.m. ET)
The medical device maker said it got an approval to market its device to treat involuntary muscle contractions. The company’s Vercise Deep Brain Stimulation system, which is used for treating patients with primary and secondary dystonia, a neurological movement disorder, works by stimulating certain areas of the brain.
** XINYUAN REAL ESTATE CO LTD, $5.52, down 5.6 pct (1:18 p.m. ET)
The Chinese real estate company said it had registered to resell 18.63 million American Depository Shares by selling shareholders. The company said it would not receive any proceeds from the sale of the shares.
** QIWI PLC, $43.07, up 2.4 pct (1:13 p.m. ET)
The Russian payment transfer company reported third-quarter results that beat estimates due to higher payment volumes in its Visa QIWI Wallet business.
** TYLER TECHNOLOGIES INC, $100.93, up 3 pct (12:25 pm ET)
Boston has selected the company’s enterprise resource planning software to replace the city’s more than 30-year-old tax billing and collection system and its billing, collection and abatement processing components.
** DICK‘S SPORTING GOODS INC, $58.31, up 3 pct (10:09 a.m E.T)
The sporting goods retailer reported better-than-expected quarterly results as its pricing initiatives boosted traffic to its stores.[ID: nPn5Pp9b1]
** W&T OFFSHORE INC, $17.95, up 3 pct (11:45 a.m. ET)
The oil and gas producer’s director Robert Israel bought 3,850 shares at $18.04 per share on Monday.
** BALTIC TRADING LTD, $4.47, up 2 pct (11:54 a.m. ET)
Perrin Harry, a director at the dry bulk shipper, bought 15,000 shares at $4.97 per share on Monday. (link.reuters.com/byk53v)
** URBAN OUTFITTERS INC, $39.19, down 1.1 pct (1:19 p.m. ET)
The teen apparel retailer joined rival Abercrombie & Fitch Co in warning of a squeeze on current-quarter margins as a tough holiday season could force it to discount more.
Compiled by Natalie Grover; Editing by Sriraj Kalluvila