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U.S. stocks fell on Monday, pulling back from record levels as investors held off from making big plays ahead of the start of earnings season. The Dow Jones industrial average fell 0.38 percent, the S&P 500 lost 0.33 percent and the Nasdaq Composite dropped 0.33 percent.
** GT ADVANCED TECHNOLOGIES INC, $17.01, -12.99 pct
UBS removed the solar and LED equipment maker from its key call list after downgrading the stock to “neutral” from “buy,” saying the company shipped fewer-than-expected sapphire products in May.
Canaccord Genuity also cut its rating on the company’s stock to “hold” from “buy”.
** ENDO INTERNATIONAL PLC, $69.35, +0.13 pct
** BIODELIVERY SCIENCES INTERNATIONAL INC, $13.925, +16.14 pct
The drugmakers said their experimental pain drug was found effective in a second late-stage trial.
** CAMTEK LTD, $3.6, +12.50 pct
The Israel-based semiconductor testing product maker said it would launch a semiconductor inspection product on July 8 in San Francisco and that it has already got orders from semiconductor device makers.
** CORINTHIAN COLLEGES INC, $0.2565, -9.68 pct
The company said late on Thursday that it had reached a deal with the U.S. Department of Education to sell most of its 107 campuses and wind down others, underscoring some of the struggles facing for-profit colleges across the country.
** KING DIGITAL ENTERTAINMENT PLC, $22.21, +1.55 pct
Piper Jaffray raised its rating on the "Candy Crush Saga" developer's stock to "overweight" from "neutral", according to MarketWatch. (on.mktw.net/1vS1Xvv)
The brokerage also raised its price target to $28 from $19, saying the company is successfully diversifying beyond “Candy Crush Saga.”
** SIBANYE GOLD LTD, $9.83, -5.93 pct
** COEUR MINING INC, $8.82, -4.96 pct
** BARRICK GOLD CORP, $18.15, -1.57 pct
** HECLA MINING CO, $3.365, -3.03 pct
Gold fell on Monday as dollar firmed on speculation of an earlier-than-expected hike in U.S. interest rates.
** MOBILEIRON INC, $10.205, +3.92 pct
At least seven brokerages started coverage of the company’s stock with a “buy” or an equivalent rating. Barclays, which has an “overweight” rating on the stock, set a price target of $15, while Nomura Equity Research started with a target price of $13 and a “buy” rating.
The company, whose software helps businesses manage data on smartphones and tablets, is expected to grow as it profits on a growing number of employees bringing their own devices to work and connecting them to the corporate network, a trend known as bring your own device (BYOD), Barclays said.
** GOODRICH PETROLEUM CORP, $23.64, -6.60 pct
The oil and gas producer said the production rate at its Beech Grove 94H-1 well in Louisiana’s Tuscaloosa Marine Shale was at the low end of its target range.
** ROCKET FUEL INC, $26, -8.90 pct
Wells Fargo started its coverage of the web-based advertisement technology provider’s stock with a “market perform” rating.
“Our view is tempered by increasing competition and significant developments across the programmatic landscape that we believe could bring pressure from leading advertisers, leading to our below-consensus expectations,” the brokerage said.
** KANDI TECHNOLOGIES GROUP INC, $14.9, +6.43 pct
The China-based electric vehicle maker said its joint venture received $31.8 million in subsidies from the Chinese government.
** AMERICAN APPAREL INC, $0.8913, +2.45 pct
The retailer is in talks with Standard General, the New York-based hedge fund that controls 43 percent of the company’s stock, to secure funding that would let the retailer pay off a $10 million loan and replace its board except for two co-chairmen, the Wall Street Journal reported on Sunday.
** QUALCOMM INC, $80.35, -0.79 pct
** SMIC, $4.73, +5.35 pct
Qualcomm, which makes mobile chips, said on Thursday that Chinese contract manufacturer SMIC would produce its Snapdragon processors.
** ORBOTECH LTD, $16.42, +4.92 pct
The company, which makes automated optical inspection systems for producers of electronic components, agreed to acquire SPTS Technologies Group, a United Kingdom-based manufacturer of equipment for the microelectronics industry, from European private equity firm Bridgepoint and others for $370 million in cash.
** FIDELITY NATIONAL FINANCIAL INC, $15.57, -4.18 pct
The title insurer reclassified its Class A common stock into two new tracking stocks, FNF Group and FNFV Group
FNF Group common stock will reflect the company’s core title insurance and mortgage-related businesses while FNFV Group common stock will reflect company’s portfolio company investments.
** TIDEWATER INC, $51.58, -5.32 pct
Morgan Stanley cut its rating on the offshore vessel provider’s stock to “underweight” from “overweight,” saying it expects low single-digit demand growth for global offshore support vessels in 2015 due to oversupply.
The brokerage said it expects Tidewater’s mixed fleet with older vessels to be affected by industry headwinds and cut its price target on the stock to $50 from $59.
** WARREN RESOURCES INC, $6.35, +3.42 pct
The oil and gas producer will buy all of Marcellus assets of Citrus Energy Corp and two working interest owners for $352.5 million. (Compiled by Avik Das in Bangalore; Edited by Maju Samuel)