April 14, 2015 / 3:33 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Vaalco, Pep Boys, Dover, Solazyme

(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 rose modestly on Tuesday as investors digested the initial major earnings of the first-quarter reporting season, which showed some weakness despite companies topping lowered expectations. The Dow Jones industrial average was up 0.18 percent at 18,008.87 and the S&P 500 was unchanged at 2,092.47.

** JPMORGAN CHASE & CO, $62.98, +1.47 pct

JPMorgan, the biggest U.S. bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.

For a graphic: here

** NOKIA OYJ, $7.975, -3.92 pct

** ALCATEL-LUCENT SA, $4.731, +8.76 pct

Nokia is in talks to buy smaller telecom equipment maker Alcatel-Lucent, a deal that would combine the industry’s two weakest players but could pose challenges in cutting costs and overcoming political opposition.

** DOVER SADDLERY INC, $8.38, +67.60 pct

The company agreed to be taken private by private equity firm Webster Capital for $8.50 per share in cash.

** VAALCO ENERGY INC, $2.52, +14.55 pct

The oil and gas production started production at its oil well off Gabon in West Africa at about 2,000 barrels per day.

** BUILDERS FIRSTSOURCE INC, $13.65, +17.98 pct

Stifel Nicolaus & Co raised rating on the building products supplier’s stock to “buy” from “hold” after the company announced the acquisition of building products distributor ProBuild on Monday.

** WYNN RESORTS, $128.05, -4.15 pct

** LAS VEGAS SANDS, $55.84, -3.81 pct

Macau casino operators, which were swept up in the strong rally seen in Hong Kong stocks over the past 5 days, saw all their recent gains wiped off as markets took a breather.

** PERSEON CORP, $0.3799, +8.92 pct

The medical device maker said the U.S. FDA approved the use of a device in ablation procedures requiring partial or complete ablation of liver tumors that cannot be removed.


The drugmaker said it expects to present positive data from a mid-stage study of its treatment for amyotrophic lateral sclerosis, a neurological disease that weakens muscles and impacts physical function.

** GW PHARMACEUTICALS PLC, $104.02, +8.15 pct

The drugmaker’s childhood epilepsy drug, epidiolex, currently in use through an expanded access program, showed marked improvement in median reduction of seizure frequency, data compiled by American Society Of Neurology shows.

** AETERNA ZENTARIS INC, $0.5693, +5.72 pct

Analysts at HC Wainwright raise rating on the drug developer’s stock to “buy” from “neutral” after the company says it plans to conduct a confirmatory study on hormone deficiency drug-test after meeting with the U.S. Food and Drug Administration.

** ARROWHEAD RESEARCH CORP, $7.45, -6.88 pct

Jefferies started coverage of the drug developer’s stock with a “hold” rating after the U.S. FDA allowed the company to begin multiple-dose mid-stage study on its hepatitis B drug, ARC-520.


Imperial Capital raises rating on the energy-focused construction company’s stock to “outperform” from “in-line”.

** NORFOLK SOUTHERN CORP, $98.97, -5.63 pct

At least four brokerages cut their price targets on the U.S. railroad company by as much as $10 to as low as $105. Norfolk said on Monday that it expected first-quarter EPS to fall 15 percent and revenue to drop 5 percent due to reduced fuel surcharge revenue and lower coal volumes.

** PEP BOYS-MANNY, MOE & JACK, $9.07, -5.52 pct

The automotive aftermarket service and retail chain reported wider net loss of $26.7 million in the fourth quarter, compared with $3.3 million a year earlier, mainly due to charges.

** J C PENNEY CO INC, $9.17, -2.45 pct

The department store chain said a senior executive inadvertently disclosed information on its same-store sales in the first quarter so far to an analyst.

** SOLAZYME INC, $3.81, +18.69 pct

** FLOTEK INDUSTRIES INC, $17.85, +3.84 pct

Solazyme has entered into an agreement with Flotek to jointly develop and market Flocapso, an advanced drilling fluid additive.

** JOHNSON & JOHNSON, $100.74, +0.19 pct

The consumer products giant reported adjusted earnings that topped expectations. (Compiled by Anannya Pramanick in Bengaluru; Edited by Maju Samuel)

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