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* The Morning News Call newsletter: tmsnrt.rs/2fwPLTh Wall Street reversed course to eke out small gains on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates.
The Dow Jones Industrial Average was up 0.25 percent at 20,463.59, the S&P 500 was up 0.22 percent at 2,333.4 and the Nasdaq Composite was up 0.23 percent at 5,776.999.
** GENERAL MOTORS, $37.24, +4.84 pct
** FIAT CHRYSLER, $11.475, +4.89 pct
** FORD MOTOR CO, $12.665, +0.84 pct
French carmaker PSA Group said it is holding talks with GM about buying its European Opel division.
The prospects of sector consolidation boosted Fiat and Ford.
** APPLE INC, $134.77, +1.11 pct
The iPhone maker’s shares hit an all-time intraday high.
** DISCOVERY COMMUNICATIONS INC, $28.62, -1.41 pct
The media company reported lower-than-expected fourth-quarter sales as a 3 percent increase in U.S. networks revenue failed to offset lower ad revenue from international networks.
** AETNA INC, $125.48, +2.81 pct
** HUMANA INC, $205.84, -0.42 pct
** MOLINA HEALTHCARE INC, $59.35 +0.19 pct
Health insurers Aetna and Humana walked away from their $34 billion merger agreement, weeks after a U.S. court ruled against the deal due to fears it would lower competition. Aetna is to pay Humana a $1 billion termination fee and terminated its plan to sell some Medicare Advantage assets to Molina.
** MOLSON COORS BREWING CO, $98.91, +2.81 pct
The beer maker reported a 4.2 percent fall in quarterly sales, due to a strong dollar and weak demand for its Coors Light beer, its biggest product.
** GILEAD SCIENCES INC, $67.9896, +0.50 pct
The hepatitis C drugmaker reported good clinical trial results for an experimental HIV drug.
** POPEYES LOUISIANA KITCHEN INC, $66.37, -6.28 pct
** RESTAURANT BRANDS INTERNATIONAL INC, $54.3, +0.93 pct
Restaurant Brands, owner of the Burger King and Tim Hortons fast-food chains, has approached Popeyes Louisiana Kitchen about a possible acquisition, Reuters reported.
** RENT-A-CENTER INC, $8.34, -1.30 pct
Activist investment fund Engaged Capital LLC sent a letter to the board of the company, asking them to start evaluating strategic alternatives, including a potential sale of the company.
** HOLOGIC INC, $38.695, -3.31 pct
** CYNOSURE INC, $65.925, +28.01 pct
Medical device maker Hologic said it would buy medical aesthetics company Cynosure for $1.65 billion to complement its portfolio of women’s health products.
** UNDER ARMOUR INC, $21.55, +1.08 pct
Morgan Stanley upgraded the sportswear maker and retailer’ stock to “equal weight”.
** AVIRAGEN THERAPEUTICS INC, $0.6602, -38.87 pct
The drugmaker’s shares hit a record low after the company’s asthma drug, Vapendavir, failed in a mid-stage trial. Ladenburg Thalmann’s downgraded the stock to “neutral”.
** NAVIOS MARITIME PARTNERS LP, $2, +12.99 pct
The shipping company’s fourth-quarter profit and revenue beat estimates.
** INCYTE CORP, $124.22, +2.53 pct
The drugmaker’s fourth-quarter revenue beat estimates. On Monday, Incyte and partner Eli Lilly said European regulators approved Olumiant to treat rheumatoid arthritis.
** RAND LOGISTICS INC; $1.01, +2.03 pct
The dry bulk shipper posted a smaller third-quarter loss as total expenses fell nearly 24 percent.
** CHARLES RIVER LABORATORIES INTERNATIONAL INC, $88.31, +7.08 pct
The contract research company reported better-than-expected fourth-quarter revenue and profit, primarily driven by higher sales in Discovery and Safety Assessment and Manufacturing Support businesses.
** CHEGG INC, $8.09, +9.32 pct
The online textbook rental and tutorial company reported better-than-expected fourth-quarter revenue, helped by higher subscriber growth.
** TRANSUNION, $37.2, +8.96 pct
The credit reporting agency reported better-than-expected fourth-quarter profit and revenue, helped by strength in its U.S. information services (USIS) unit. The company also intends to buy back up to $300 million of stock over the next 3 years.
** TARGET CORP, $65.44, +0.97 pct
** BEST BUY CO INC, $45.36, +3.16 pct
** GAP INC, $24, +1.57 pct
** AUTOZONE INC, $734.24, -0.25 pct
Chief executives of some of America’s largest retailers, including Target and Best Buy, are headed to Washington this week to make their case that a controversial tax on imports would raise consumer prices and hurt their businesses, Reuters reported.
** NORTHERN DYNASTY MINERALS LTD, $2.39, -24.84 pct
Short-seller Kerrisdale Capital called the company, which owns the Pebble deposit, an undeveloped copper and gold resource in Alaska, “worthless”.
** APACHE CORP, $55.11, -3.62 pct
The oil and gas producer released well results from a major discovery it calls “Alpine High,” most of which is in Reeves County, Texas.
** DIANA CONTAINERSHIPS INC, $2.9361, +8.34 pct
The dry bulk shipper signed a new contract, which is expected to start on March 7 and generate about $1.65 million of gross revenue for the minimum scheduled period of time charter.
** BURLINGTON STORES INC, $87.45, +1.66 pct
Burlington joined other retailers in deciding not to sell products of Ivanka Trump’s brand online, news website Business Insider reported.
** INTEGRATED DEVICE TECHNOLOGY INC, $24.855, +0.51 pct
** GIGPEAK INC, $3.06, +12.92 pct
Chip component maker IDT said on Monday that it would acquire GigPeak, which develops products for use in optical communications networks, for about $250 million in cash.
** AMKOR TECHNOLOGY INC, $9.5425, -8.60 pct
The semiconductor assembling and testing company forecast lower-than-expected first-quarter revenue as growth in the overall smartphone market cools.
** CORNERSTONE ONDEMAND INC, $41.9, +4.70 pct
The cloud software provider broke even on an adjusted basis per share, while analysts were expecting a loss. At least 5 brokerages raised their price targets on the stock.
** HIBBETT SPORTS INC, $29.105, -12.47 pct
The sporting goods retailer forecast fourth-quarter sales below analysts’ estimates and a 2.2 percent drop in comparable sales, prompting as many as six brokerages, including Goldman Sachs, to cut price targets.
** FLOWERS FOODS INC, $18.75, -10.03 pct
The packaged bakery foods maker’s fourth-quarter sales miss consensus estimates for the sixth straight quarter.
** TILE SHOP HOLDINGS INC, $18.1, -9.50 pct
The tile retailer’s fourth-quarter profit missed estimates due to low demand for some of its products and “abnormally high costs” related to its employee benefits.
** RETAILMENOT INC, $10.7, +19.55 pct
The online coupon provider’s fourth quarter revenue of $96.9 million beat estimates on a strong performance from its in-store and advertising segment.
** ENERGY TRANSFER PARTNERS LP, $39.461, +2.74 pct
A U.S. federal judge denied a request by Native American tribes seeking to halt construction of the final link in the Dakota Access Pipeline, the controversial project by Energy Transfer Partners that has sparked months of protests by activists aimed at stopping the 1,170-mile line.
** SCORPIO TANKERS INC, $4.349, +9.82 pct
Morgan Stanley upgraded the stock to “overweight”, a day after Deutsche Bank upgraded to “buy” from “hold” following the oil transportation company’s encouraging Q4 report.
** NETSOL TECHNOLOGIES INC, $4.4252, -10.60 pct
The IT services provider posted second-quarter revenue that missed Street estimates on weak performance at its services segment.
** PENNANTPARK FLOATING RATE CAPITAL LTD, $13.6276, -2.73 pct
The business development company’s follow-on of 5 million shares was priced at $14.08 apiece.
** INVITAE CORP, $9.84, +7.42 pct
The genetic test maker’s fourth-quarter revenue nearly tripled, beating Wall Street estimates and prompting brokerage Benchmark to raise its rating on the stock to “buy”.
** GEVO INC, $1.6, -31.33 pct
The chemical and biofuel maker’s senior secured lender agreed to extend the maturity of Gevo’s 2017 notes from March 15 to June 23. Gevo also announced a proposed public offering of common stock and warrants. (Compiled by Divya Grover and Anya George Tharakan in Bengaluru; Editing by Savio D‘Souza)