(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s) NOTE: Reuters is converting some short-form coverage of hot stocks, including Market Pulse, into the new Stocks Buzz product. From June 16, items that were previously published only as a compilation will be published as standalone items featuring the BUZZ tag. They will also be accessible via the STXBZ news code. A collated version will continue to appear on the WATCH/US named-item code under the headline "BUZZ-U.S. stocks on the move".
U.S. stocks fell on Thursday after a round of disappointing economic data on consumers and the labor market, though energy shares were sharply higher as the price of crude oil spiked. The Dow Jones industrial average was down 0.34 percent at 16,787.2, the S&P 500 was down 0.35 percent at 1,937.15 and the Nasdaq Composite was down 9.19 points, or 0.21 percent, at 4,322.75.
** RAMBUS INC, $13.93, +7.15 pct
At least three brokerages raised their price targets on the memory and security product maker’s stock after Rambus entered into a patent license agreement with Qualcomm Global Trading Pte Ltd, giving parent Qualcomm Inc and its units access to patented memory, interface, and security technologies from Rambus.
Rambus also raised its second-quarter revenue forecast.
** VITESSE SEMICONDUCTOR CORP, $3.3699, -11.78 pct
The network equipment chipmaker priced its offering of 7.46 million shares at $3.35 each, below Wednesday’s close, to raise about $23.2 million.
** TRINSEO SA, $20.31, $20.31, +6.89 pct
Shares of the plastic and polymers maker backed by Bain Capital, rose as much as 9 percent in their market debut, valuing the company at up to $981 million.
** WAL-MART STORES INC, $75.73, -0.56 pct
Fernando Madeira comes to his new job as head of online business for Wal-Mart Stores Inc with a reputation as an e-commerce whiz, having engineered a surge in the retailer’s online sales in Latin America.
** STILLWATER MINING CO, $16.71, -6.86 pct
The miner’s stock was down as platinum and palladium prices fell the most in nearly a year after South African producers said they had reached “in principle” undertakings with the union to end a crippling five-month strike.
** LANDS’ END INC, $29.14, +9.43 pct
The clothing retailer reported a 48 percent rise in quarterly profit, helped by improved merchandise assortment and inventory, targeted promotions, and expense controls. Revenue rose 3.5 percent.
The Lands’ End started trading publicly after completion of separation from Sears Holdings Corp on April 4, 2014.
** YAMANA GOLD INC, $8.075, +3.66 pct
** HARMONY GOLD MINING CO, $2.92, +2.82 pct
** IAMGOLD CORP, $4.038, +3.54 pct
** KINROSS GOLD CORP, $4.115, +2.11 pct
Gold extended earlier gains after both U.S. retail sales and jobless claims came in below expectations, weighing on the dollar. Spot gold added 0.5 percent an ounce to $1,266.10.
** COMPUTER PROGRAMS AND SYSTEMS INC, $62.33, -5.13 pct
KeyBlanc Capital Markets downgraded the stock to “underweight”, saying it believed the healthcare information technology company’s growth and profitability may be hampered by competition from privately owned companies Healthland and Epic Systems Inc.
** HALOZYME THERAPEUTICS INC, $10.046, +6.99 pct
UBS upgraded the drugmaker’s rating to “buy” from “neutral”, based on the potential of its pancreatic cancer drug, PEGPH20, saying “if the clinical hypothesis underlying PEGPH20 proves correct we see blockbuster potential for the program despite recent safety concerns.”
** SUNESIS PHARMACEUTICALS INC, $6.21, +12.30 pct
UBS started coverage with a “buy” rating saying the drug maker’s stock provides “an exceptionally high risk/reward” ahead of the late-stage trial data of its experimental cancer drug vosaroxin expected in the second half of the year. “We are positively biased on the trial and see asymmetric upside on favorable data,” UBS analyst Andrew Peters wrote in a research note. He set a price target of $14 on the stock.
** ZHAOPIN LTD, $15.52, +14.96 pct
Shares the Chinese jobs website operator rose in their U.S. market debut, after the company priced its IPO of 5.6 million American depositary shares at the mid-point of its expected price range of $12.50-$14.50. The company raised $75.7 million.
** SOUFUN HOLDINGS LTD, $8.92, -16.17 pct
Deutsche Bank cut its rating on the Chinese real estate portal’s stock to “hold” from “buy”, according to Theflyonthewall.com.
** HIMAX TECHNOLOGIES INC, $6.43, -3.16 pct
Brokerage Craig Hallum cut its rating on the chipmaker's stock to "hold" from "buy", according to Streetinsider.com. (link.reuters.com/put99v)
** MEETME INC, $2.01, +8.65 pct
The social media technology company, which helps people connect through social games and apps, said more than 900,000 mobile users, the highest in the company’s history, logged in to its website MeetMe.com on Tuesday.
** MOBILE IRON INC, $10.65, +18.33 pct
Shares of the company. whose software helps businesses manage data on smartphones and tablets, rose on their debut after it sold 11.1 million shares at $9 each to raise about $100 million.
** CLIFF NATURAL RESOURCES INC, $13.86, -3.62 pct
Activist investor Casablanca Capital LP said it urged Cliff Natural’s shareholders to elect six nominees proposed by it to the mining company’s board. Casablanca also added that they have no confidence that the board will take the steps needed to maximize shareholder value.
** GT ADVANCED TECHNOLOGIES INC, $18.16, +4.31 pct
The solar equipment maker said it had entered into an agreement to supply furnaces to Qatar Solar Energy’s manufacturing project in Doha. Qatar Solar has opened a 300 MW plant and plans to ramp up capacity to 2.5 GW.
** NORDIC AMERICAN OFFSHORE LTD, $15.36, -4.00 pct
Shares of the offshore supply vessel company fell in their market debut, after the company priced its initial IPO of 5.9 million common shares at the lower end of its expected price range of $16-$18 per share. The IPO raised $94.1 million.
** ARENA PHARMACEUTICALS INC, $6.4251, +3.97 pct
The FDA on Wednesday extended the review date for the marketing application of rival Orexigen Therapeutics Inc’s investigational diet pill to Sept. 11.
** AMERICAN AIRLINES GROUP INC, $39.55, +14.61 pct
** DELTA AIR LINES INC, $39.55, +14.61 pct
** UNITED CONTINENTAL HOLDINGS INC, $42.67, -5.72 pct
** JETBLUE AIRWAYS CORP, $10.02, -3.93 pct
** SOUTHWEST AIRLINES CO, $25.73, -4.49 pct
Shares of airline companies fell on Thursday due to concerns that escalating violence in Iraq could disrupt oil supplies from the major OPEC exporter.
Lufthansa, on Wednesday, had cut back profit targets for the next two years sending airline stocks down.
** LIVEDEAL INC, $4, +14.61 pct
The Internet marketing company said its recent 35-city advertisement campaign boosted a 244 percent increase in visits to its website in its first week, compared with traffic over the same period a month earlier. The campaign was designed to increase user registration and drive traffic into more than 8,000 restaurant locations that uses the company’s real-time “deal engine”, the company said.
** TWITTER INC, $37.22, +4.73 pct
The micro-blogging website said on Thursday Ali Rowghani resigned as chief operating officer, effective Thursday.
The micro-blogging website said it did not intend to hire a replacement for Rowghani, whose operating responsibilities would be assumed by others in the management.
** GERON CORP, $3.31, +27.30 pct
The company said the U.S. Food and Drug Administration had lifted a partial clinical hold on a study testing its sole drug as a treatment for myelofibrosis, a rare form of blood cancer, sending the company’s shares soaring in early trading.
** COMMSCOPE HOLDING CO INC, $23.94, -2.80 pct
The telecommunications equipment maker said it started an offering to sell 15 million shares of its common stock by an affiliate of the Carlyle Group.
** CONSOL ENERGY INC, $45.79, -2.57 pct
** NOBLE ENERGY INC, $75.99, +0.81 pct
The two companies said they would form a master limited partnership to operate pipelines they control in Pennsylvania’s Marcellus shale region.
** CEVA INC, $14.41, -6.37 pct
Brokerage Chardan Capital Markets downgraded the Israeli mobile chip designer’s stock to “sell”, citing weak smartphone sales in China. “Spreadtrum, one of the CEVA’s key customers, could be negatively impacted by the weak sales of handsets over the May holidays in China,” analyst Jay Srivatsa said.
** EXELON CORP, $35.04, -1.99 pct
The utility company priced its 50 million common share offering at $35 each and a 20 million unit offering at $50 each. The net proceeds would be used to partly finance the acquisition of Pepco Holdings Inc.
** INTERDIGITAL INC, $48.59, +1.44 pct
The wireless research and development company said its board has approved a 100 percent increase in quarterly cash dividend to 20 cents per share. InterDigital also authorized a $300 million stock repurchase.
** SIGMA DESIGNS INC, $4.6, +14.14 pct
Brokerage Needham upgraded the chipmaker’s stock to “buy”, citing strong revenue ramp and a return to profitability in the second half. “We expect stronger F2H15 revenue will largely be driven by the ramp of the company’s 4K/UHD-capable SX6 SoC and FRCX frame rate converter solutions and the continued success of ZWave home control solutions,” analyst N. Quinn Bolton wrote in a note to clients on Thursday.
The company, which makes semiconductors for Internet protocol television set-top boxes, reported an adjusted loss of 14 cents per share for the first quarter on Wednesday, compared with a 1 cent profit a year earlier. Revenue fell 30 percent to $36.9 million.
** RANGE RESOURCES CORP, $87.3, -2.31 pct
The oil and gas producer on Wednesday said it would sell 4.56 million company shares and plans to use the proceeds to redeem some senior notes and for general corporate purposes.
** AMERIGAS PARTNERS LP, $44.84, -5.82 pct
The propane gas distributor said on Wednesday its unit started an offering of 8.5 million common units.
** INTEL CORP, $27.8801, -0.18 pct
** ADVANCED MICRO DEVICES INC, $4.335, +1.05 pct
** HEWLETT-PACKARD CO, $33.9, +1.95 pct
Chipmaker Intel lost its challenge against a record 1.06 billion euro ($1.44 billion) European Union fine handed down five years ago, as Europe’s second highest court said regulators did not act too harshly.
The European Commission in its 2009 decision had said Intel tried to thwart rival AMD by giving rebates to PC makers Dell, HP, NEC and Lenovo for buying most of their computer chips from Intel.
** KEYW HOLDING CORP, $11.21, +4.96 pct
The cyber-security product maker said on Wednesday its wholly owned subsidiary, Hexis Cyber Solutions Inc, gave initial delivery of its security product, HawkEye G, to a U.S. government agency. The company said HawkEye G detects threats and removes malware. -8.38
** PBF ENERGY INC, $29.86, -4.87 pct
The refiner said on Wednesday that funds affiliated with Blackstone Group and First Reserve Management LP were offering 18 million shares of its Class A common stock for sale.
** LULULEMON ATHLETICA INC, $37.785, -14.71 pct
The company reported quarterly results that edged past expectations on Thursday, but the Canadian yogawear retailer trimmed its revenue and earnings forecast for the fiscal year.
** ALTRIA GROUP INC, $41.39, -1.71 pct
The U.S. FDA is working to develop strong product standards for electronic cigarettes and other nicotine delivery devices that will protect public health and enable the agency to withstand legal challenges, its tobacco chief said on Wednesday.
** RESTORATION HARDWARE HOLDINGS INC, $80.56, +12.91 pct
The furniture retailer forecast second-quarter profit above analysts’ estimate on Wednesday and said it now expects 2014 adjusted diluted earnings per share of $2.24-$2.30 per share, up from the $2.14-$2.22 it expected earlier.
“We were impressed by Restoration Hardware’s Q1’14 ‘beat and raise’, which we believe further demonstrates the company’s attractive long-term earnings growth prospects,” BB&T Capital Market analyst Anthony Chukumba wrote in a note. The brokerage raised its price target to $79.
** UNIVERSAL INSURANCE HOLDINGS INC, $12.94, +1.65 pct
Director Palmieri Ralph bought 1,500 shares of the insurance holding company for $12.99 per share at a 2 percent premium to the stock’s Wednesday close on the New York Stock Exchange. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Joyjeet Das)