November 5, 2014 / 6:23 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-WellCare, Colony Financial, Energy cos

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U.S. stocks rose on Wednesday, with the Dow advancing to a record after the Republican Party took control of the Senate in the midterm elections, as expected, and following a stronger-than-anticipated report on the labor market. The Dow Jones industrial average was up 0.48 percent at 17,467.46, the S&P 500 was up 0.42 percent at 2,020.53 and the Nasdaq Composite was up 0.02 percent at 4,624.52.

** PRIMEENERGY CORP, $74.75, +15.27 pct

** CYPRESS ENERGY PARTNERS LP, $22.43, +3.51 pct

** WALTER ENERGY INC, $2.75, +9.13 pct

** ALPHA NATURAL RESOURCES INC, $2.19, +5.29 pct

** TRANSCANADA CORP, $77.26, +3.05 pct

** PENN WEST PETROLEUM LTD , $4.29, +5.93 pct

Shares of oil & gas and coal companies rose in anticipation that a Republican takeover of U.S. Senate on Tuesday could lead to legislative measures that directly affect the energy sector.

** TIME WARNER INC, $77.26, +3.05 pct

The company reported a 3 percent rise in quarterly revenue, helped by growth in its Turner Networks unit and premium TV service Home Box Office (HBO).

** TRIPADVISOR INC, $72.245, -13.78 pct

The travel review website reported a quarterly profit that missed analyst estimates by a wide margin as marketing costs jumped by nearly two-thirds and referral revenue lagged the company’s expectations.

** ELECSYS CORP, $17.25, +80.25 pct

Irrigation systems maker Lindsay Corp has agreed to buy the communications equipment maker for $70.5 million, or $17.50 per share in cash, a premium of about 83 percent to the stock’s close on Tuesday.

** FIREEYE INC, $29.149, -14.89 pct

The cyber security company forecast quarterly revenue largely below the average analyst expectation as customers increasingly shifted to subscription-based products, away from on-premise equipment that brought in revenue upfront.

** FIRST MAJESTIC SILVER CORP, $4.83, -3.59 pct

** PRIMERO MINING CORP, $3.3, -3.23 pct

** ENDEAVOUR SILVER CORP, $2.81, -4.75 pct

U.S.-listed shares of gold and silver miners fell as spot gold sank to its lowest since mid-2010 while silver hit its weakest since February 2010.

** STRATASYS LTD, $107.1, -11.67 pct

The 3D printer maker cut its profit forecast for 2014, citing its recent acquisition of computer-aided design systems developer GrabCAD and ongoing development costs.

** EOG RESOURCES INC, $95.55, +5.84 pct

The largest oil producer in the contiguous United States posted a better-than-expected quarterly profit on Tuesday thanks to jumping oil production in the Eagle Ford and Bakken shale formations.


The Oil and gas producer’s third quarter revenue rose nearly 60 percent to $147.2 million, but missed the average analyst estimate of $168 million.

** WELLCARE HEALTH PLANS INC, $69.75, +5.55 pct

The U.S. health insurer reported a better-than-expected adjusted profit for the third quarter, driven by a 43 percent increase in memberships under Obamacare.

** HUDSON VALLEY HOLDING CORP, $24.78, +9.65 pct

** STERLING BANCORP, $13.3, -4.93 pct

Sterling and Hudson will merge in stock transaction valued at about $539 million and Hudson’s shareholders will receive 1.92 Sterling shares for each share held.


The drugmaker said a cut in inventory and changes to the company’s accounting of discounts to customers hit revenue from sales of its bowel drug by $8 million.

** COLONY FINANCIAL INC, $23.82, +7.54 pct

The REIT said on Tuesday that it would acquire some real estate and investment management assets of parent Colony Capital LLC and the combined company would be called Colony Capital Inc.

** WORLD ENERGY SOLUTIONS INC, $5.46, +31.57 pct

The energy management company is on track for its best day in six years after EnerNOC Inc’s buyout offer.

** ALBANY MOLECULAR RESEARCH INC, $17.49, -22.85 pct

The drug developer reported a third quarter loss, hurt by higher operating costs related to a power interruption at the its OsoBio facility. Shipment timing delays in its active pharmaceutical ingredients (API) business also weighed on results.

** NEW YORK & CO, $2.7, -14.56 pct

The women’s apparel maker estimated third-quarter sales below analysts’ estimates and said it expected gross margins and same store sales to decline.

** JAMBA INC, $12.15, -5.81 pct

Wedbush Securities cut its price target on the restaurant operator’s stock to $15 from $17 after it reported lower-than-expected adjusted profit and revenue on Tuesday due to lower number of company-owned stores and higher costs related to new launches.

Canaccord Genuity also cut its price target to $13 from $14.

** HOLLYFRONTIER CORP, $43.22, -4.40 pct

The U.S. refiner reported a lower-than-expected profit for the first time in four quarters, hurt by higher operating expenses.

** ITT EDUCATIONAL SERVICES INC, $10.38, -12.92 pct

Levi & Korsinsky and Law Offices of Howard G Smith filed class action suits against the for-profit education company.

** ANTERO MIDSTREAM PARTNERS LP, $28.76, +15.04 pct

Shares of the master limited partnership formed by Antero Resources Corp rose as much as 23 percent in their market debut, becoming the largest initial public offering by an MLP in a decade.

** DEVON ENERGY CORP, $61.39, +9.59 pct

The company reported on Tuesday a sharply higher quarterly profit that topped Wall Street estimates, helped by the sale of U.S. oil and natural gas properties and the North American onshore operator pumping more crude than expected.

** OASIS PETROLEUM INC, $26.12, -2.97 pct

The North Dakota oil producer reported a lower-than-expected quarterly profit on Tuesday, as inclement weather and other logistical challenges impeded the development of new wells, causing the company to temper its production outlook.

** LAS VEGAS SANDS CORP, $58.23, -2.41 pct

** MGM RESORTS INTERNATIONAL, $21.91, -1.88 pct

** CAESERS ENTERTAINMENT CORP, $11.55, -0.69 pct

Japanese lawmakers are set to indefinitely postpone legalizing casinos as Prime Minister Shinzo Abe lacks political leverage to pass a bill this year, sources tell Reuters.

** ENPHASE ENERGY INC, $12.11, -22.37 pct

The microinverter systems maker said late on Tuesday that it expected fourth-quarter operating expenses to rise 8-10 percent from the third quarter.


The IT services provider reported a 12 percent rise in quarterly revenue due to higher spending by customers in North America and Europe.

** ZULILY INC, $28.725, -20.12 pct

The company, which runs a website offering daily discounts on clothing, forecast fourth-quarter sales of $391.3-416.3 million, largely below analysts’ average estimate of $412.0 million.

** CHESAPEAKE ENERGY CORP, $22.7, +6.62 pct

The second-largest U.S. producer of natural gas on Wednesday reported an 8 percent rise in third-quarter profit, which topped Wall Street estimates on higher-than-expected output.

** DUKE ENERGY CORP, $83.27, +1.26 pct

The largest U.S. power company by market value reported a 27 percent rise in third-quarter profit, helped by increased pricing and the reversal of an impairment charge recognized in the first quarter.

** CHUY’S HOLDINGS INC, $21.005, -30.38 pct

The restaurant operator cut its 2014 profit forecast late on Tuesday, blaming higher food costs.

** MONDELEZ INTERNATIONAL INC, $37.185, +6.15 pct

The maker of Oreo cookies and Cadbury chocolate raised its full-year forecast on Wednesday, even as it said its quarterly profit fell 11 percent on weak sales in Europe.


The medical contract research provider announced an offering of 13.3 million shares by selling stockholders, which include funds associated with Bain Capital Investors LLC and affiliates of TPG Global LLC.

** MAGNA INTERNATIONAL INC, $102.19, +5.38 pct

The Canadian auto parts maker and contract vehicle manufacturer reported a 47 percent jump in third-quarter earnings that beat analyst expectations, boosted by strong demand in North America.

** PIONEER NATURAL RESOURCES CO, $172.52, -4.64 pct

The oil and gas explorer said it would sell 5.75 million shares - about 4 percent of its total outstanding shares.

** HOMEAWAY INC, $29.28, -13.24 pct

The vacation rentals company forecast current-quarter and full-year revenue below the average analyst expectation.

** EXELIXIS INC, $1.78, +7.88 pct

The drugmaker said patients given its experimental lung cancer compound alone, or in combination with an already approved cancer treatment, prolonged the time before the disease progressed.

** ZAGG INC, $5.09, -25.04 pct

The consumer electronics accessories maker reported a surprise third-quarter loss, hurt by $9.6 million inventory write-down.

** PHOTOMEDEX INC, $3.2, +5.61 pct

The skin health company’s relief from debt repayment defaults was extended to Feb. 28, 2015 from the previous date of Oct. 31.

** NU SKIN ENTERPRISES INC, $42.47, -15.77 pct

The direct seller of anti-ageing and nutritional products reported a 38.4 percent drop in quarterly profit as sales nearly halved in Greater China, its largest market.

** ACTIVISION BLIZZARD INC, $20.525, +2.88 pct

The videogame maker raised its full-year 2014 forecast after posting better-than-expected third-quarter results on robust sales of “Destiny” and a jump in “World of Warcraft” subscribers.

** TWENTY-FIRST CENTURY FOX INC, $34.29, +2.88 pct

Chief Operating Officer Chase Carey said the company was being “disciplined” about its options when considering streaming video offerings that bypass cable and satellite subscriptions.

** JIVE SOFTWARE INC, $6.609, +12.21 pct

The software company reported a smaller-than-expected loss, helped by recent JiveX cloud upgrades as well as new integrations with Microsoft Office and Google Inc. (Compiled by Avik Das in Bangalore; Editing by Simon Jennings)

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