April 21, 2015 / 6:35 PM / 3 years ago


(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 were mixed on Tuesday, with the Dow industrials pulled down by a handful of uninspiring earnings reports, while the Nasdaq was pushed higher by a proposed biotech merger. The Dow Jones industrial average was down 0.34 PCT at 17,974.14, the S&P 500 was down 0.04 PCT at 2,099.55 and the Nasdaq Composite was up 23.28 points, or 0.47 percent, to 5,017.88.

** RAMBUS INC, $14.19, +11.12 pct

The memory chip and security product maker reported a first-quarter profit above analysts’ average estimate late on Monday, helped by a new license agreement with IBM Corp. At least three brokerages raised their price targets on the stock.

** ADVAXIS INC, $21.38, +6.90 pct

The drug developer said a pre-clinical study of its cancer drug, ADXS-HPV, in combination with antibody drugs, prevented tumor growth and prolonged survival rate in tumor-bearing mice. Another study testing its cancer drug, ADXS-HER2, in dogs with a serious type of bone cancer, showed that the drug delayed tumor progression and prolonged overall survival rate when used with pain relief radiation therapy.

** CELESTICA INC, $11.93, +3.74 pct

The electronics services company said Honeywell Aerospace has subcontracted some product lines to its assembly and test operations. The company will also buy back $350 million of subordinate voting shares.

** SANMINA CORP, $20.36, -12.84 pct

At least three brokerages cut their price targets on the electronics manufacturing services provider’s stock after the company’s second-quarter profit and revenue fell below analysts’ average estimate.

** ALLEGHENY TECHNOLOGIES INC, $34.25, +13.04 pct

The specialty metal producer reported a profit for the first-quarter compared with a year-ago loss, helped by higher sales from the aerospace market. Allegheny posted revenue of $1.13 billion for the first quarter, higher than the average analyst estimate of $1.08 billion.

The stock was the second-biggest percentage gainer on the NYSE.

** CARA THERAPEUTICS INC, $12.83, +7.54 pct

Ridgeback Capital Investments reported a passive stake of 7.9 percent in the drug developer, making the hedge fund Cara's third-largest shareholder. (1.usa.gov/1Qf0zAc)

** GULFMARK OFFSHORE INC, $14.31, -12.53 pct

The offshore rig contractor reported a loss of 21 cents per share for the first quarter, compared with the average analyst estimate of 12 cents. Revenue for the first quarter was $89.1 million, lower than estimates of $91.8 million.

** TILE SHOP HOLDINGS INC, $14.725, +17.24 pct

The specialty stone tile retailer reported a better-than-expected sales and profit for the first quarter as it sold more products at its stores open for less than a year.

** ULTRA CLEAN HOLDINGS INC, $5.48, -19.77 pct

The chip equipment maker’s shares touched a nearly two-year low as it forecast profit and revenue for the second quarter below analyst’ estimates late on Monday, hurt by short-term reductions in spending by several major chipmakers.

The stock was the top percentage loser on the Nasdaq.

** RHINO RESOURCE PARTNERS LP, $2.03, -14.71 pct

The coal producer cut cash distribution for the first quarter to 2 cents per share from 5 cents, citing prolonged weakness in coal markets. This is Rhino’s second cut in distribution in less than a year.

The stock was the top percentage loser on the NYSE.

** FLOTEK INDUSTRIES INC, $15.59, -9.68 pct

The specialty chemicals and drilling equipment distributor announced a surprise preliminary first-quarter loss of about $1.5 million, or 3 cents per share.

** ALAMOS GOLD INC, $7.16, +4.53 pct

The Canadian gold miner cut its semi-annual dividend to 3 cents per share from 10 cents. It said the decrease was affected by a sharp decline in gold prices. “The dividend cut will free up approximately $18 million/year of cash for Alamos’ use,” Raymond James analysts said in a note.

** GILEAD SCIENCES INC, $105.4399, +4.75 pct

** VERTEX PHARMACEUTICALS INC, $132.08, +5.20 pct

Bernstein’s Geoffrey Porges said Gilead should buy Vertex, valuing the specialty drugmaker at about $45 billion or higher, to reassure investors about their future outlook. Vertex, which had a market valuation of $30.39 billion as of Monday’s close, was a maker of drugs to treat cystic fibrosis, a rare genetic lung disorder.

** HELIX ENERGY, $15.99, +1.65 pct

The offshore energy services provider posted a much higher-than-expected profit for the first quarter, helped by lower costs. Costs fell 38 percent, helping gross margins in the first quarter rise to 18 percent from 16 percent in the fourth quarter.

** HEALTHSTREAM INC, $28.8, +7.54 pct

The company’s profit and revenue for the first quarter beat estimates as more healthcare providers subscribed to and did its Internet-based training and performance assessment courses.


The world’s largest technology services company reported a 12 percent fall in first-quarter revenue as it continues to shed unprofitable businesses to focus on cloud-computing initiatives.

** GENERAL ELECTRIC CO, $26.6, -1.55 pct

** WELLS FARGO & CO, $54.37, +0.02 pct

GE is in early-stage talks with the bank about selling its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, according to a source familiar with the situation.

The stock was the second-most traded on the New York Stock Exchange.


Cantor Fitzgerald analysts started covering the hardwood flooring retailer’s stock with a “buy” rating and a $45 price target. Lumber Liquidators is facing U.S. government investigations after CBS’s “60 Minutes” show last month alleged that laminates sourced by the company from China had excessive levels of cancer-causing formaldehyde.

** ALIGN TECHNOLOGY INC, $56.6, +4.42 pct

Morgan Stanley upgraded the dental product maker’s stock to “overweight” and raises its price target to $79 from $56 as concerns about intellectual property, a CEO transition and U.S. growth faded.

** LRR ENERGY LP, $8.45, +6.56 pct


Vanguard said on Monday it would buy LRR Energy for $539 million, including debt. The deal includes $251 million of Vanguard’s common units and $288 million in LRR’s debt. The companies said the deal valued LRR at $8.93 per unit, representing a 13 percent premium to Monday’s close.

** GEVO INC, $1.991, -22.15 pct

The renewable chemicals and biofuel producer announced a 1-for-15 reverse stock split. The company’s common stock began trading on a split-adjusted basis on Tuesday. The reverse split reduced Gevo’s number of outstanding shares to about 9.8 million from about 146.3 million.

** ARCH COAL, $0.9702, -8.47 pct

The coal miner’s stock stayed below its 100-day moving average for the 100th straight session. The company’s loss and revenue missed Wall Street estimates due to lower prices.

** ECHO GLOBAL LOGISTICS INC, $32.25, +27.02 pct

The logistics company’s stock touched a record high and was among the biggest percentage gainers on the Nasdaq. The Company’s revenue for the first quarter increased 14 PCT, helped by a 33 PCT jump in truckload volumes. The company will buy privately held truckload services provider Command Transportation LLC for $420 million.

** BIOCEPT INC, $3.5778, +6.48 pct

The cancer test maker’s shares rose for the second straight day after data spelt positive news for its liquid biopsy cancer tests.

** GASLOG LTD, $22.69, +6.43 pct

The LNG carrier operator agreed to charter three uncontracted newbuilds currently under construction to Methane Services Ltd, a unit of BG Group Plc. Charters will add about $845 million of fixed rate revenue to GasLog’s existing contracted revenue backlog.

** ALNYLAM PHARMACEUTICALS INC, $120.72, +1.72 pct

The drugmaker’s experimental drug for familial amyloidotic polyneuropathy (FAP) showed benefit in patients. FAPs are a group of life-threatening multisystem disorders caused due to protein buildups in nerves.

** OMNICOM GROUP INC, $77.07, -1.04 pct

The No. 1 U.S. advertising company reported its first fall in quarterly revenue in four years and said the strong dollar would reduce 2015 revenue more than it had expected.

** GANNETT CO INC, $35.8, +1.88 pct

The publisher of USA Today reported a 5 PCT rise in quarterly revenue, helped by increased broadcasting revenue. Net income attributable to Gannett rose to $112.9 million, or 49 cents per share, in the first quarter ended March 29, from $59.2 million, or 25 cents per share, a year earlier.

** DUPONT, $70.98, -2.55 pct

The chemical conglomerate reported a 28 PCT fall in first-quarter profit, hurt by a strong dollar. Net income attributable to DuPont fell to $1.03 billion, or $1.13 per share, in the quarter ended March 31, from $1.44 billion, or $1.54 per share, a year earlier.

** KIMBERLY-CLARK CORP, $112.08, +4.40 pct

The company reported a 4 PCT fall in quarterly sales as demand for personal care products such as Huggies diapers fell for the third straight quarter in North America and a strong dollar hurt sales in other markets.

For a graphic on the stock's performance vis-a-vis its peers, click (here)

** UNDER ARMOUR INC, $83.62, -4.72 pct

The sports apparel maker reported a 13.4 PCT fall in quarterly profit, hurt by higher costs related to its recent acquisitions.

** TRAVELERS COS INC, $102.53, -3.40 pct

Property and casualty insurer reported a 21 PCT fall in quarterly net profit due to lower net investment income and a drop in underwriting gains. [ID: nL4N0XI4AH]

** MYLAN NV, $73.54, +8.08 pct


** PERRIGO CO PLC, $193.68, -2.22 pct

Teva offered to buy Mylan at $82 per share in cash and stock. The Israeli company said its proposal was contingent on Mylan not proceeding with its planned acquisition of Perrigo, which it offered to buy for $29 billion earlier this month.

Mylan was the most traded stock on the Nasaq.

** JAKKS PACIFIC INC, $6.68, -3.19 pct

The toymaker reported better-than-expected first-quarter revenue, helped by its dolls based on Disney characters. The company secured licenses for entertainment franchises with releases in 2016.

** SUPERTEL HOSPITALITY INC, $2.82, +2.92 pct

JCP Investment Management LLC reported a 5.5 PCT stake in the real estate investment trust, as of April 20.

** SHAKE SHACK INC, $60.3, -5.26 pct

Stifel analysts cut its rating on the Hamburger chain’s stock to “hold”, citing valuation due to recent appreciation in share price.

** TD AMERITRADE HOLDING CORP, $35.65, -2.14 pct

The discount broker reported a 2.6 PCT fall in quarterly profit, hurt by higher expenses. The company’s net income fell to $189 million, or 35 cents per share, for the second quarter ended March 31, from $194 million, or 35 cents per share, a year earlier.

** BAKER HUGHES INC, $67.05, -1.89 pct

** HALLIBURTON CO, $47, -1.78 pct

Oilfield services provider Baker Hughes, in the process of being bought by Halliburton for $35 billion, posted a quarterly loss compared with a year-earlier profit as it recorded a $772 million charge related to restructuring and other items.

For a graphic on the companies' share performances, click (here)

** HARLEY-DAVIDSON INC, $56, -9.34 pct

The motorcycle maker posted a higher quarterly net profit, but lowered its sales forecast for 2015, citing an aggressive price discounting by competitors.

** TECK RESOURCES LTD, $12.98, -6.15 pct

The Canadian miner slashed its half-yearly dividend and posted a quarterly profit below analysts’ estimates as prices for steel-making coal and copper remained depressed.

** LAM RESEARCH CORP, $78.43, +8.95 pct

The chip gear maker’s revenue for the first quarter rose 13 PCT to $1.39 billion as shipments jumped 19 PCT.

** FORTINET INC, $38.0232, +9.80 pct

The security software maker reported a better-than-expected first-quarter profit and revenue. (Compiled by Rosmi Shaji in Bengaluru; Editing by Joyjeet Das)

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