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U.S. stock indexes fell on Friday. The Dow Jones industrial average was down 0.14 percent at 16,540.03 and the S&P 500 was down 0.02 percent at 1,930.36.
** TESLA MOTORS INC, $236.6144, +5.96 pct
The California-based maker of luxury electric cars said it expected to build more than 60,000 cars in 2015, after spending heavily this year to update and expand its Fremont assembly plant. Tesla CEO Elon Musk also said the company would fund 40-50 percent of the estimated $4 billion to $5 billion cost of building a new “gigafactory” to produce cheaper and more efficient battery packs for its future electric cars, including the $35,000 Model 3 range that is due in 2017.
** STRAYER EDUCATION INC, $7.94, +7.01 pct
The post-secondary education provider reported a better-than-expected quarterly profit.
At least three brokerages raised ratings on the company’s stock. Deutsche Bank, Piper Jaffray and BMO Capital Markets also raised price targets.
** CERUS CORP, $3.82, +8.52 pct
The biomedical products maker said it expected U.S. Food and Drug Administration approval for its Intercept blood system for platelets as early as the first half of 2015. The company reported better-than-expected second-quarter revenue.
** INTERVEST BANCSHARES, $9.45, +18.42 pct
** BANK OF THE OZARKS INC, $31.83, +3.44 pct
Bank of the Ozarks said it would buy Intervest Bancshares for $228.5 million in stock. The deal is expected to close in the fourth quarter of 2014 or the first quarter of 2015, and add to Bank of the Ozarks’ profit a year after that.
KBW and Wunderlich raised their price targets on Bank of the Ozarks’ stock.
** ROYALE ENERGY INC, $3.5, -6.91 pct
The oil and gas producer terminated a contract to drill two exploration wells in Alaska after joint venture partner Rampart Energy Ltd said it would not fund the initial payment. The company said it was looking for funding partners for the two wells.
** WEB.COM GROUP INC, $20.06, -24.44 pct
The internet domain name registration company forecast current-quarter earnings below analysts’ estimates, citing a one-time impact to average revenue per user from exiting the legacy national accounts.
At least six brokerages cut their price targets on the stock.
** 3D SYSTEMS CORP, $47.79, -4.67 pct
** STRATASYS LTD, $97.48, -3.08 pct
** EXONE CO, $31.66, -3.21 pct
** VOXELJET AG, $16.72, -7.27 pct
3D Systems reported a lower-than-expected second-quarter profit on Thursday.
At least seven brokerages reduce their price targets on the stock, with FBR Capital Markets cutting it by as much as $35.
Shares of rivals Stratasys, Exone and Voxeljet also fell.
** YRC WORLDWIDE INC, $22.15, -15.39 pct
The freight company reported a lower-than-expected second-quarter profit, as costs related to bodily injury and cargo claims rose in the quarter. The company was one of the top percentage losers on the Nasdaq.
** HFF INC, $30.51, -10.16 pct
The real estate financial intermediary reported a lower second-quarter net income, hurt by higher expenses. The company said compensation-related costs rose as it hired 75 associates in the past year.
** ELDORADO GOLD CORP, $7.94, +7.01 pct
The Canadian gold miner lowered its 2014 average cash costs for production forecast to $495 per ounce from $550-$590 per ounce. The company reported second-quarter profit in line with the average analyst estimate.
** TANDEM DIABETES CARE INC, $14.43, +15.53 pct
The medical device maker posted an 86 percent jump in its second-quarter revenue on Thursday as it sold more insulin pumps.
“Clearly 2Q sales represented better growth performance than investors may have feared and the stock price has recently reflected,” Stifel Nicolaus analyst Rick Wise said.
** THE BON-TON STORES INC, $9.72, +4.52 pct
The apparel and accessories retailer said Kathryn Bufano would be chief executive from Aug. 25, replacing Brendan Hoffman, who would resign.
Bufano’s appointment “removes a major element of uncertainty,” Credit Suisse analysts said.
** BILL BARRETT CORP, $22.55, -6.08 pct
The oil and gas producer reported a second-quarter loss of $26.6 million compared with a profit a year earlier, hurt by a $46.8 million commodity derivative loss.
** HILL INTERNATIONAL INC, $4.17, -13.31 pct
The construction management services provider priced its offering of 8.5 million shares at $4.25 per share. The company said it would initially keep $10 million from the proceeds of the offering as cash and equivalents and would use the remainder to repay debt and “meet certain of its obligations.” Hill International had about 40.5 million shares outstanding as of April 30.
** REGENERON PHARMACEUTICALS INC, $325.977, +3.09 pct
French drugmaker Sanofi SA, which is co-developing a cholesterol drug with Regeneron, increased its stake in the U.S. drugmaker to 22.5 percent as of April 17. Sanofi said it planned to raise its stake to 30 percent in 2014 and 2015.
** RESMED INC, $49.61, -4.12 pct
The medical device maker reported lower-than-expected revenue for the fourth quarter on Thursday.
Piper Jaffray cut its price target on the company’s stock.
** GREEN DOT CORP, $19.78, +9.95 pct
The prepaid card company reported a higher-than-expected second-quarter profit as more people used its cards. The company also raised its full-year adjusted earnings forecast.
** MAXWELL TECHNOLOGIES INC, $9.95, -8.55 pct
The power products delivery company reported a lower-than-expected second-quarter adjusted profit, hurt by lower ultracapacitor sales in China. The company said it expected its current-quarter revenue to fall as much as 15 percent sequentially.
Piper Jaffray and Roth Capital Partners cut their price targets on the company’s stock.
** ARCELORMITTAL SA, $14.37, -5.52 pct
The world’s largest steelmaker cut its forecast for earnings this year, after lower-than-expected iron ore prices ate into profits in its mining business.
** CBD ENERGY LTD, $3.86, +62.87 pct
The renewable energy company signed an agreement to construct a 64-megawatt solar park in Thailand.
** CAMBREX CORP, $22.625, +7.38 pct
The life sciences company reported a better-than-expected second-quarter profit, helped by higher sales in all of its product categories. The company also raised its full-year gross sales growth forecast.
** MOBILEYE NV, $37.72, +50.88 pct
Shares of the road-safety technology company rose as much as 55 percent, valuing the company at more than $8 billion. The IPO raised about $889.7 million, the largest U.S. IPO by an Israeli company.
** OCWEN FINANCIAL CORP, $27.61, -8.49 pct
The mortgage servicer reported a lower-than-expected second-quarter profit.
KBW and Oppenheimer cut their price targets on the company’s stock.
** SCIENTIFIC GAMES CORP, $8.55, +0.12 pct
** BALLY TECHNOLOGIES INC, $77.845, +29.38 pct
Scientific Games, which makes slot machines for casinos, will buy larger rival Bally Technologies for about $3.27 billion to expand its electronic and table games and online lottery businesses. Including debt, the deal value is $5.1 billion, the companies said.
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $79.8, +3.85 pct
The hotel operator said its board had approved a new $1.1 billion share buyback, taking its total repurchase to $1.5 billion. The company also declared a special cash dividend of 65 cents per share.
** SPIRIT AEROSYSTEMS HOLDINGS INC, $35.923, +10.29 pct
The aircraft components maker posted a quarterly profit compared with a loss a year earlier, as customers Boeing Co and Airbus boosted production to meet surging demand for large planes.
** GOPRO INC, $42.179, -12.07 pct
The company, which makes wearable cameras used by surfers, skydivers and other action junkies to post their exploits online, reported a bigger quarterly loss as costs nearly doubled.
** PROCTER & GAMBLE CO, $80.16, +3.67 pct
The world’s largest household products maker reported a 37 percent rise in quarterly profit as its cost cutting efforts paid off and organic sales rose in its home care business.
** BIOTA PHARMACEUTICALS INC, $2.4, -25.23 pct
The drugmaker said its experimental influenza drug failed to meet the main goal in a mid-stage study. The drug, Laninamivir octanoate, is being developed to treat influenza A and B infections.
** BOYD GAMING CORP, $9.94, -9.64 pct
The casino operator reported lower-than-expected second-quarter profit and sales as casual gaming revenue growth slowed. The company also cut its full-year adjusted earnings forecast.
Credit Suisse downgraded the company’s stock to “neutral” from “outperform”. At least three other brokerages lowered their price targets on the stock.
** LINKEDIN CORP, $199.78, +10.60 pct
The corporate networking site forecast current-quarter adjusted profit and revenue above analysts’ estimates, helped by a rapid rise in its hiring business. The company reported higher-than-expected adjusted profit and revenue for the second quarter.
** SUNPOWER CORP, $34.71, -5.50 pct
The second-largest solar panel maker in the United States reported a 30 percent fall in quarterly profit as it installed fewer solar plants.
** IMPERVA INC, $25.19, +13.62 pct
The data security provider reported better-than-expected second-quarter revenue, helped by growth in subscriptions. The company also raised its 2014 revenue forecast and said it expected a smaller adjusted loss.
** EXPEDIA INC, $83.64, +5.31 pct
The online travel agency reported better-than-expected quarterly results, driven by higher hotel and flight bookings. Expedia, whose brands include Hotels.com and Hotwire.com and the corporate travel business Egencia.com, has been spending on technology and international expansion to better compete against rivals such as Priceline Group Inc.
At least 10 brokerages raised their price targets on Expedia’s stock.
** ARRIS GROUP, $29.32, -14.19 pct
The telecom and cable equipment maker forecast third-quarter sales and profit largely below analysts’ estimates.
** SYNAPTICS INC, $79.32, +9.82 pct
The touchscreen chipmaker reported better-than-expected fourth-quarter revenue and profit, helped by higher demand for its fingerprint ID chips and by growth in China.
** SKULLCANDY INC, $7.45, +10.21 pct
The headphone maker’s said it expected third-quarter sales to rise 7-9 percent from $50 million a year earlier. This translates to $53.5 million-$54.5 million.
** SERVICESOURCE INTERNATIONAL INC, $3.285, -25.85 pct
The revenue management software maker reported a bigger second-quarter loss, hurt by higher expenses and lower revenue from its managed services business. The company said it planned to create two separate business units for its managed services and SaaS operations.
** AUDIENCE INC, $7.94, -16.68 pct
The audio chip maker forecast current-quarter results largely below analysts’ estimates after its biggest customer, Samsung Electronics Co Ltd, warned of increasing competition and weak earnings.
** AXT INC, $2.3, +6.98 pct
The chip component maker reported better-than-expected second-quarter revenue and a profit of 1 cent per share, compared with expected loss of 5 cents, as sales of high-margin products rose. (Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey)