(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks fell on Tuesday after a weak auto sales report pulled the Dow and S&P back from their latest records and the Nasdaq dipped below 5,000 the day after scaling the milestone level for the first time in 15 years. The Dow Jones industrial average was down 0.51 percent at 18,194.81 and the S&P 500 was down 0.56 percent at 2,105.58.
** OREXIGEN THERAPEUTICS INC, $8.62, +48.88 pct
The drugmaker provided data from an ongoing cardiovascular outcomes study, which shows its obesity drug, Contrave, was superior to placebo for heart.
** MCDERMOTT INTERNATIONAL INC, $3.38, +29.50 pct
The oilfield service provider reported a fourth-quarter profit, compared with a loss a year earlier. The company also forecast 2015 revenue much higher than analysts’ average estimate.
** NORTHSTAR REALTY FINANCE CORP, $18.47, -3.30 pct
The REIT prices a public offering of 60 million shares at $18.65 per share. The offering represents about 20 percent of the company’s total outstanding shares as of March 2.
** ALLIANCE BANCORP INC OF PENNSYLVANIA, $21.25, +21.36 pct
** WSFS FINANCIAL CORP, $75.87, -3.44 pct
Alliance said it is set to be acquired by WSFS Financial for about $92 million in cash and stock. The offer represented a premium of 26 percent to the Alliance stock’s Monday close.
** CHART INDUSTRIES INC, $38.56, +8.25 pct
Piper Jaffray raised its rating on the LNG equipment maker’s stock to “overweight” from “neutral” and price target to $45 from $36, according to Streetinsider.com.
** CUMULUS MEDIA INC, $3.36, -16.21 pct
The radio station operator’s profit and revenue lag average analyst estimate due to “decreases in local spot and national spot revenue.”
** NUTRISYSTEM INC, $19.25, +12.24 pct
The weight-loss products and services company reported better-than-expected fourth-quarter profit and revenue on Monday as it added more customers.
** PRIMORIS SERVICES CORP, $17.2, -18.44 pct
The construction services company reported fourth-quarter profit and revenue well below analysts’ average estimate, primarily due to weakness in its west construction business.
** AKORN INC, $47.875, -10.86 pct
The opthalmic drugmaker sought to extend the deadline for annual 10-K report, citing “unforeseen delays”.
** JIAYUAN.COM INTERNATIONAL LTD, $5.0659, +9.18 pct
The Chinese online dating platform received a “going private” proposal from Vast Profit Holdings Ltd. The proposal is to buy all outstanding shares of Jiayuan.com not already owned by Vast Profit at $5.37/ADS.
** OCWEN FINANCIAL CORP, $9, +5.39 pct
The mortgage servicer says it will sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer.
** ONCOLYTICS BIOTECH INC, $1.16, +8.41 pct
The U.S. FDA gives the Canadian biotech company’s lead drug, Reolysin, orphan drug status to treat of a type of abdomen cancer. The drug had also been given orphan drug status for treatment of fallopian tube cancer on Monday.
** TOWER SEMICONDUCTOR LTD, $17.9, +6.61 pct
The Israeli chip manufacturer, which includes Tower Semi and its U.S. unit Jazz Semiconductor, has won a contract from Intel Corp to produce infrared sensors for Intel’s 3D cameras.
** DURECT CORP, $1.23, +19.42 pct
Cantor Fitzgerald upgraded the drugmaker’s stock to “buy” from “hold,” citing the company’s announcement to further develop a new compound to treat metabolic diseases. Development of DUR-928 could increase Durect’s attractiveness as a takeout candidate, Cantor analysts said.
** SANCHEZ ENERGY CORP, $13.18, +7.15 pct
** C&J ENERGY SERVICES INC, $13.96, +7.47 pct
** BILL BARRETT CORP, $10.36, +7.36 pct
** PIONEER ENERGY SERVICES CORP, $5.98, +12.41 pct
** ECLIPSE RESOURCES CORP, $7.37, +7.28 pct
** BASIC ENERGY SERVICES INC, $7.85, +7.24 pct
Oil prices rose as rival Libyan forces carried out air strikes on oil terminals and an airport, reviving fears over supplies from the OPEC member. Brent crude up 2.7 percent at $61.12 per barrel at 12:52 p.m. ET; U.S. crude up 1.6 percent at $50.36 per barrel.
** OPOWER INC, $12.175, -21.30 pct
The cloud-based software maker forecast first-quarter and full-year 2015 revenue below analysts’ expectations, saying it is taking “conservative stance” on international revenue. Opower also forecast 2015 loss bigger than analysts’ estimate.
At least three brokerages cut their price targets, with Canaccord Genuity cutting it to $17 from $23.
** MANNKIND CORP, $6.015, -9.41 pct
Goldman Sachs downgraded the drugmaker’s stock to “sell” from “neutral”, citing slower-than-expected launch of its inhaled insulin device, Afrezza.
** TARENA INTERNATIONAL INC, $10.31, -10.43 pct
The Chinese IT education provider forecast first-quarter revenue to be between $27.8-$28.8 million, lower than the average analyst estimate of $34.8 million.
** SUNOPTA INC, $10.05, -12.23 pct
The Canadian organic food company reported lower-than-expected fourth-quarter profit and revenue, hurt by higher cost of sales and lower income due to competition at Opta Minerals, its second-largest business by revenue.
** CALLIDUS SOFTWARE INC, $13.52, -6.24 pct
The HR management software maker’s stock touched a more than four-month low of $13.29 after it said it is offering 4 million shares.
** BEST BUY CO INC, $39.08, +1.16 pct
The largest U.S. consumer electronics chain reported higher-than-expected quarterly earnings on a strong holiday season and said it would buy back stock for the first time since 2012.
For a graphic: link.reuters.com/sax24w
** BOEING CO, $156.46, +1.73 pct
United Airlines Chief Financial Officer John Rainey said Boeing’s larger 777-300ER jetliner is a potentially good fit for UAL’s network. He said the aircraft could be quick fix in markets where UAL needs additional seats to satisfy demand.
** NAVISTAR INTERNATIONAL CORP, $29.45, +1.76 pct
The truck and engine maker reported a smaller-than-expected first quarter loss. Navistar is trying return to profitability by cutting costs after a failed engine redesign in 2012 led to higher warranty expenses and loss of market share.
** CITIGROUP INC, $53.73, +0.45 pct
** SPRINGLEAF HOLDINGS INC, $47.6, +25.13 pct
Citigroup said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf for $4.25 billion in cash.
** SMITH & NEPHEW PLC, $34.27, -7.00 pct
Plans by Stryker Corp to launch a new $2 billion share buyback program punctured hopes the U.S. surgical implant firm would bid for rival Smith & Nephew.
** AK STEEL HOLDING CORP, $4.13, -4.40 pct
Nomura Equity Research cut its rating on the steel maker’s stock to “neutral” from “buy”. “We believe the U.S. will be unable to maintain strong price premiums to the global market owing to unfavorable cost shifts,” Nomura analysts wrote in a note.
** NEOSTEM INC, $3.99, +5.00 pct
The drug developer said it plans to focus on the initiation of and continued enrollment in its late-stage study testing its skin cancer cell-therapy, NBS20.
** OAKTREE CAPITAL GROUP LLC, $52.28, -2.86 pct
The private equity firm announced the pricing of its offering of 4 million class A units, representing about 2.6 percent of its stock.
** KATE SPADE & CO, $34.35, -2.69 pct
The luxury handbag maker forecast 2015 revenue below analysts’ average estimate, citing the impact of a strong dollar on its Japan business and the closure of the Kate Spade Saturday brand.
** BARCLAYS PLC, $15.65, -2.67 pct
The British bank took a 750 million pound ($1.2 billion) charge in the fourth quarter as it prepares to settle allegations its traders manipulated foreign exchange markets, overshadowing the bank’s efforts to slash costs and boost profits.
** ALIBABA GROUP HOLDING LTD, $80.98, -3.60 pct
A slew of brokers cutting their price targets following the company’s January earnings report have kept the pressure on the stock. The company has seen almost $100 billion in market-cap wiped off since the shares hit a peak in November. It is now valued at just over $200 billion.
Meanwhile, Taiwan has ordered Alibaba to withdraw from the country within six months because the online retailer had violated investment rules required for a Chinese company.
** ARENA PHARMACEUTICALS INC, $4, -6.54 pct
The drugmaker’s fourth-quarter loss exceeds average analysts’ average estimate as operating expenses jumped 38 percent.
** INTREXON CORP, $45.47, +13.05 pct
The synthetic biology products company posted a surprise fourth-quarter profit and a four-fold jump in revenue, helped partly by the recognition of some deferred collaboration revenue. Mizuho Securities USA Inc analysts raised their price target on the stock to $50 from $32.
** LUMBER LIQUIDATORS HOLDINGS INC, $42.39, +9.17 pct
Janney Capital Markets upgraded the hardwood flooring retailer’s stock to “buy” from “neutral”.
The stock closed down 25 percent on Monday after the CBS news program “60 Minutes” said the company’s products failed to meet safety standards, allegations the company denied.
“We believe ‘60 Minutes’ did not provide a complete picture of the issue. It didn’t highlight victims, had no feedback from regulators and relied on anonymous Chinese factory workers making accusatory statements,” Janney Capital analysts said.
** FORD MOTOR CO, $16.19, -2.29 pct
For the second year in a row, ferocious winter weather slowed U.S. vehicle sales in February. Ford’s sales dropped 2 percent to 180,383. Analysts expected 194,872.
** MICRON TECHNOLOGY INC, $29.67, -5.03 pct
Nomura Securities cut its price target on the chipmaker’s stock to $30 from $40 and downgraded to “neutral” from “buy”.
** FINJAN HOLDINGS INC, $2.77, +8.20 pct
The cybersecurity software provider said all its five patent infringement claims were upheld by the District Court for the Northern District of California in a Markman hearing.
** SILVER WHEATON CORP, $20, -5.66 pct
The Vancouver-based company said on Monday that it would pay $900 million for the right to buy an additional 25 percent of future gold production from Vale SA’s Salobo mine in Brazil, boosting its 2015 gold output to 230,000 ounces.
** DTS INC, $33.58, +11.52 pct
The audio products maker forecast 2015 revenue largely above analysts’ average estimate, citing demand from “network-connected markets, specifically connected TVs, mobile devices and Play-Fi enabled devices”.
** NABORS INDUSTRIES LTD, $12.96, +3.35 pct
The onshore and offshore driller swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices.
** OPKO HEALTH INC, $14.11, -2.29 pct
Analysts at Oppenheimer & Co downgraded the drug developer’s stock to “perform” after the company posted a wider-than-expected fourth-quarter loss, hurt by higher costs.
** PLURISTEM THERAPEUTICS INC, $3.1062, +2.51 pct
The Israeli drug developer said results from the pre-clinical studies of experimental cell therapy PLX-R18 were positive. (Compiled by Amrutha Gayathri in Bengaluru; Edited by Maju Samuel)