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U.S. stocks were flat on Friday, pointing to a week of modest losses as recent data painted a mixed picture of economic growth, though Wall Street’s 2014 rally was expected to continue into the second half of the year. The Dow Jones industrial average was down 0.37 percent at 16,784.32, the S&P 500 was down 0.18 percent at 1,953.64 and the Nasdaq Composite was up 6.83 points, or 0.16 percent, at 4,385.88.
** GIBRALTAR INDUSTRIES INC, $15.005, -9.66 pct
The buildings products maker cut its second-quarter profit forecast to 14-16 cents per share from 29-32 cents, saying demand did not recover as expected after harsh winter.
Gibraltar said weakness in residential markets would continue and it does not expect to recover sales lost in the first half.
** VERISIGN INC, $49.031, -3.35 pct
Wells Fargo cut its rating on the Internet domain name provider’s stock to “market perform” from “outperform,” saying company’s domain name additions in the second quarter was running slightly below the midpoint of estimates.
“We also are a little cautious with regard to the longer-term impact of Google’s entry into the domain registry space,” analysts wrote in a note.
** TRINITY INDUSTRIES INC, $43.25, +0.53 pct
ABB will sell Thomas & Betts’ steel structures business to Trinity, a diversified industrial company, for $600 million in cash.
** 58.COM INC, $55, +5.32 pct
Tencent Holdings Ltd agreed to invest $736 million in the Chinese online classified service provider for about 19.9 percent equity interest. Tencent said it will buy 36.8 million Class A and B shares of the company for $20 per share.
** COMMERCIAL METALS CO, $17.27, -4.53 pct
The metal recycler reported weaker-than-expected revenue and earnings for the third quarter ended May 31, hurt by lower import of steel concrete reinforcing bars from Mexico.
** MOKO SOCIAL MEDIA LTD, $7.54, +0.53 pct
The social media platform provider’s American Depository Shares rose as much as 16.67 percent to $8.75 in its U.S. market debut, valuing the company at $109 million. The offering of 1.1 million ADSs priced at low end of expected price range of $7.50-$9.00.
** BROOKS AUTOMATION INC, $10.33, +4.13 pct
Stifel Nicolaus raised the rating on the automation, vacuum equipment and instrumentation maker’s shares to “buy” from “hold,” saying it believes life sciences business will drive company’s growth.
Brooks Automation’s customers include semiconductor makers and life sciences and clean energy companies.
** CHINA BIOLOGIC PRODUCTS INC, $41.1127, +5.66 pct
The Chinese drug developer priced its offering of 1.6 million shares at $38 each.
The company had 23.3 million shares outstanding as of March 12.
** MICHAELS COS INC, $17.2, +1.18 pct
Shares of the biggest U.S. arts and crafts retailer fell as much as 2.1 percent in their return to the market, valuing the company at about $3.4 billion. The company raised $472.6 million after its offering of 27.8 million shares was priced at the low end of the expected range.
** NEXTERA ENERGY PARTNERS LP, $32.36, +29.44 pct
Shares of the limited partnership, a unit of NextEra Energy Inc, rose as much as 32.8 percent in debut to a high of $33.20, valuing company at about $3.09 billion. The offering of 16.3 million common units priced at $25 each, the higher end of an expected price range, raised about $407.5 million.
** GLU MOBILE INC, $4.715, +5.96 pct
Brokerage Benchmark Co raised the rating on the mobile game maker’s stock to “buy” from “hold” and price target to $5.60 from $4.62. Glu Mobile is expected to benefit from continued success of its recent game launches and a growing mobile gaming market, analyst Mike Hickey said.
** GOPRO INC, $36.36, +16.02 pct
The action camera-maker’s shares were among the top gainers on the Nasdaq, a day after the company’s blockbuster debut. The shares jumped as much as 38 percent in on Thursday and closed with a 31 percent gain.
** SINO GLOBAL SHIPPING AMERICA LTD, $2.15, -2.27 pct
The international shipping agency and logistic services provider priced its offering of 572,000 shares at $1.76 each. The company had 4.7 million outstanding shares as of May 13. The offering at a discount of 20 percent to the stock’s Thursday closing on the Nasdaq.
** ELDORADO GOLD CORP, $7.48, +4.91 pct
The Canadian miner’s flagship Kisladag gold mine in Turkey received approval from the government to expand the open pit mine throughput to a maximum of 35 million tonnes per annum from the current 12.5 million tonnes.
** IPC THE HOSPITALIST CO INC, $44.42, +8.10 pct
RBC Capital Markets raised the in-patient care provider’s stock to “outperform” from “sector perform,” saying analysts see potential for growth through acquisitions.
** DOLLAR GENERAL CORP, $57.21, -7.25 pct
** FAMILY DOLLAR STORES INC, $65.73, -3.34 pct
Discount retailer Dollar General’s CEO Rick Dreiling will retire effective May 30, 2015, or upon appointment of a successor, the company said.
Under Dreiling’s leadership, the company’s sales had increased more than 80 percent to $17.5 billion in 2013.
** PROFIRE ENERGY INC, $4.41, -9.07 pct
The combustion management technology developer priced its public offering of 6 million shares at $4 each, a discount of 17.5 pct to the stock’s Thursday close. The offering represents about 12.5 percent of outstanding shares, according to Thomson Reuters data.
** TASEKO MINES LTD, $2.483, +7.96 pct
A Supreme Court of Canada ruling confirmed that the Canadian miner’s New Prosperity Gold-Copper project is located in an area where aboriginal title does not exist.
The court said on Thursday aboriginals in British Columbia can stake a broad claim to traditional territories.
** ISIS PHARMACEUTICALS INC, $35.09, -3.55 pct
An article on investment website seekingalpha.com raised questions about the "long-term tolerability" of the company's cholesterol drug, Kynamro.(bit.ly/1pTwTMa)
FDA approved the drug last year as a treatment for a rare genetic disorder that causes high levels of bad cholesterol.
** KEURIG GREEN MOUNTAIN INC, $124.1275, +3.11 pct
Argus Research Co raised the rating on the K-cup coffee pod maker’s stock to “buy” from “hold”, according to Theflyonthewall.com. Keurig said last week it would create 550 new jobs and invest $337 million toward its first-ever cold pod manufacturing facility in Georgia.
** PROGRESS SOFTWARE CORP, $23.99, +7.87 pct
The enterprise software maker reported better-than-expected second quarter results.
Brokerage Wedbush raised target price on the company’s stock to $23 from $22.
** NIKE INC, $77.88, +1.33 pct
The world’s largest sportswear maker reported better-than-expected quarterly results, as demand for its apparel and footwear rose in North America and Western Europe after the company spent heavily on marketing ahead of the 2014 soccer World Cup.
At least four brokerages raised their price target on the company’s stock.
** DUPONT, $64.48, -4.76 pct
The chemicals maker cut its operating profit forecast for the second quarter and the full year, saying sales in its agriculture and performance chemicals units increased at a slower pace than it had expected.
** MANITOWOC CO INC, $32.5, +9.39 pct
** TEREX CORP, $40.67, +1.80 pct
Activist investment firm Relational Investors LLC disclosed an 8.5 percent stake in crane and food equipment maker Manitowoc and said that a spin off of the food business from the crane business would maximize shareholder value. (1.usa.gov/1pF5bR2)
At least two brokerages raised the price target on the company’s stock.
Rival Terex’s stock was also up on the news.
** RETROPHIN INC, $11.63, -1.52 pct
The pharmaceutical company said a patient dosed with its experimental neurological disorder drug was temporarily taken off the treatment after an elevation in liver enzyme levels. Elevated liver enzyme levels may indicate inflammation or damage to cells in the liver.
** IGI LABORATORIES INC, $5.13, -3.39 pct
The generic drug maker priced its common stock offering of 4.7 million shares, representing 10 percent of total outstanding shares, at $5 per share. The offer price was at a discount of 6 percent to the stock’s Thursday closing.
** AWARE INC, $6.566, +15.60 pct
The imaging software maker declared special cash dividend of $1.75 per share, totaling about $40 million.
** AMEDISYS INC, $16.22, +20.59 pct
The home health and hospice company’s second-quarter forecast topped analysts’ average estimate. The company said it expects revenue of $300-$305 million and adjusted earnings from continuing operations of 15-20 cents per share.
** ENCANA CORP, $23.555, -1.48 pct
** APOLLO GLOBAL MANAGEMENT LLC, $27.55, +2.23 pct
Canada’s largest natural gas producer said it would sell its Bighorn gas properties in Alberta to Apollo for about C$2 billion ($1.9 billion). The deal includes about 360,000 net acres comprising Encana’s working interests in all pipelines and facilities as well as service arrangements. (Compiled by Amrutha Gayathri in Bangalore; Editing by Joyjeet Das)