Oct 9 (Reuters) - Some U.S. stocks on the move on Tuesday:
U.S. stocks declined on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies amid worries about third-quarter U.S. earnings.
The Dow Jones industrial average was down 81.21 points, or 0.60 percent, at 13,502.44. The Standard & Poor’s 500 Index was down 11.20 points, or 0.77 percent, at 1,444.68. The Nasdaq Composite Index was down 44.75 points, or 1.44 percent, at 3,067.61.
** INTEL CORP, $22.08, down 1.9 pct (1007 ET)
Sanford C. Bernstein downgraded the company to “underperform” and cut its price target on the stock. Robert W. Baird & Co also cut its price target on the stock citing weak demand for notebooks.
** VASCO DATA SECURITY INTERNATIONAL INC, $6.81, down 23.8 pct (1010 ET)
The online security provider cut its full-year revenue forecast citing lower-than-expected orders from its banking segment in the third quarter.
The company now expects between $150 million and $157 million in revenue, down from its previous forecast of $175 million.
** GULFPORT ENERGY CORP, $31.88, up 4.8 pct (1148 ET)
The oil and gas explorer said it expects a higher production exit rate helped by stronger production growth from its 3 new wells in the Utica region in the fourth quarter.
The company also raised its capital budget for 2013 by 68 percent from its 2012 levels.
** GLU MOBILE INC, $3.29, down 19 pct (1154 ET)
Northland Securities said the game maker’s management is disappointed with third-quarter game launches which will likely limit smartphone revenue estimate upside, theflyonthewall.com reported.
Northland Securities made the comments following its conversations with Glu’s management, theflyonthewall said.
** ROYALE ENERGY INC, $3.80, up 4.7 pct (0957 ET)
The oil and gas company said privately held Great Bear Petroleum Operating LLC sought regulatory approval to accelerate testing and production activities on its North Slope property in Alaska, an area adjoining Royale’s property there.
Earlier, Royale Energy said it plans to develop nearly 100,000 acres of land immediately adjacent to Great Bear’s acreage.
** SUPER MICRO COMPUTER INC, $10.49. down 1.4 pct (1012 ET)
The server vendor said revenue for its first quarter will be at the lower end of its forecast. It also said lower prices for hard disk drives hurt its net profit.
** BSD MEDICAL CORP, $1.83, up 55 pct (1014 ET)
The company reported an almost five-fold increase in September sales of its tissue removal device used in cancer treatment.
** GFI GROUP, $2.93, down 8.1 pct (1016 ET)
Keefe Bruyette & Woods downgraded the interdealer broker’s stock to “market perform” as the brokerage expects a tepid fourth quarter on regulatory uncertainties.
** EDWARDS LIFESCIENCES CORP, $87.97, down 18 pct (0939 ET)
The medical device maker cut its revenue forecast for the third quarter on Monday as sales of its unique heart valve that was expected to drive results fell short of estimates.
UBS Investment Research, Canaccord Genuity and Barclays Capital cut their price targets on the stock.
** SPECTRUM BRANDS HOLDINGS INC, $46.99, up 14.2 pct (0945 ET)
Spectrum brands, the maker of Rayovac batteries and other consumer products, said it will buy a unit of Stanley Black & Decker that makes door locks and bath fixtures for $1.4 billion.
** PENN VIRGINIA CORP, $5.71, down 12.5 pct (0938 ET)
The oil and gas producer offered 12 million shares of its common stock and $50 million of depositary shares representing convertible preferred equity.
The company plans to use the proceeds for repaying debt.
** ANGIODYNAMICS INC, $11.29, down 11.9 pct (0949 ET)
The medical devices maker reported a surprise loss for the first quarter and forecast full-year earnings much below analysts’ expectations, according to Thomson Reuters I/B/E/S.
** AFP PROVIDA SA , $108.82, up 6.95 pct (1101 ET)
The Chilean pension fund manager’s stock rose after U.S. insurer and asset manager Principal Financial Group Inc agreed to buy its peer AFP Cuprum.
** PRIMERO MINING CORP , $7.44, up 6.5 pct (1027 ET)
TD Securities raised its price target on the company’s stock to C$10 from C$6.50.
** AMICUS THERAPEUTICS INC, $5.77, up 11.6 pct (1029 ET)
A Seeking Alpha article said the drugmaker’s stock could triple in value if its experimental treatment for Fabry disease shows positive data from a late-stage study.
GlaxoSmithKline, which holds a nearly 20 percent stake in Amicus, could also be interested in acquiring the company following positive study data, the article said.
** BIOLINERX , $3.36, up 10.9 pct (0940 ET)
The biopharmaceutical company said a recent analysis of a mid-stage study of its experimental schizophrenia drug showed significant improvement in mental deterioration, compared with the original analysis published in September 2009.
** QUESTCOR PHARMACEUTICALS INC, $21.35, up 5.2 pct (1004 ET)
Jefferies & Co upgraded the biopharmaceutical company to “buy.” The company shipped 1,740 vials of Acthar, its flagship multiple sclerosis drug for September. It shipped 1,110 vials in September 2011.
** DESTINATION MATERNITY CORP, $20.12, up 9.8 pct (1032 ET)
The maternity apparel retailer said it expects fourth-quarter earnings to exceed the top end of its forecast. It also reported sales slightly above market estimates, driven by higher demand for its fall merchandise.
** OWENS CORNING, $30.00, down 11.6 pct (0940 ET)
** BEACON ROOFING SUPPLY INC, $28.81, down 3.7 pct (1034 ET)
Building materials maker Owens Corning lowered its 2012 profit forecast, saying weaker demand for roofing products will hurt sales in a business that makes shingles and in a unit whose products include glass fiber.
Beacon Roofing’s shares were also down on the news.
** RADIOSHACK CORP, $2.37, up 14 pct (0941 ET)
Bofa Merrill Lynch upgraded the consumer electronics retailer two-notches to “buy,” StreetInsider reported.
** JOHNSON & JOHNSON, $68.28, down 1.6 pct (1117 ET)
Goldman Sachs cut the diversified healthcare company to “sell” from “neutral,” theflyonthewall.com reported.
** NETFLIX INC, $67.78, down 7.8 pct (0942 ET)
BofA Merrill Lynch cut the video streaming company’s stock to “underperform” from “buy,” Benzinga.com reported.
** BAIDU INC, $109.95, down 3.8 pct (0943 ET)
Credit Suisse cut its rating on the Chinese search engine company’s stock to “underperform” from “neutral” citing a weaker-than-expected advertising market, intensifying competition from new entrants and difficulty in monetizing mobile search traffic, according to the website benzinga.com.
** PROPHASE LABS INC, $1.50, up 11.1 pct (0946 ET)
Privately held drugmaker Matrixx Initiatives Inc, which makes cold, sinus and allergy drugs, raised its offer to buy the company by about 14 percent to $1.60 per share, or $23.7 million, in cash.
** AMAZON.COM INC, $252.50, down 2.5 pct (119 ET)
The company’s deal to purchase streaming movies from cable network Epix could transform the way such deals are done, thanks to a pay-for-performance sweetener that had not been previously disclosed.
Janney Capital Markets raised its fair value on the stock to $300 from $250. (Complied by Aditi Shrivastava in Bangalore) (firstname.lastname@example.org, within U.S. +1 646 223 8780, outside U.S. +91 80 4135 5783, Reuters messaging: email@example.com)