October 22, 2012 / 3:20 PM / 6 years ago

MARKET PULSE-Caterpillar, Overseas Shipholding, Freeport-McMoran

Oct 22 (Reuters) - Some U.S. stocks on the move on Monday:

(For more market insights, including options activity, click on STXNEWS/US; for the Morning News Call newsletter, click on link.reuters.com/faq23t; for the day ahead newsletter, link.reuters.com/mex49s)


Stocks were flat as Caterpillar erased initial declines and turned positive after reporting higher-than-expected profit. The stock was the biggest boost to the Dow.

The S&P appeared once again to be testing the 50-day moving average, which has proven to be a strong support level. A convincing break below could signal further declines.

The Dow Jones industrial average slipped 0.53 point to 13,342.98. The Standard & Poor’s 500 Index added 0.69 point, or 0.05 percent, to 1,433.88. The Nasdaq Composite Index gained 7.51 points, or 0.25 percent, to 3,013.14.

** CATERPILLAR INC, $82.63, down 1.5 pct (0934 ET)

Caterpillar, the world’s largest maker of tractors and excavators, slashed its 2012 forecast for the second time as it warned the global economy was slowing faster than it had expected.

** OVERSEAS SHIPHOLDING GROUP INC, $1.46, down 55 pct (0936 ET)

** DHT HOLDINGS INC, $5.29, down 6 pct (1045 ET)

** NORDIC AMERICAN TANKER LTD, $8.65, down 3 pct (1044 ET)

** TEEKAY TANKERS LTD, $3.45, down 1.1 pct (1045 ET)

Overseas, the world’s No. 2 independent tanker operator by fleet size, said it was evaluating options including filing for bankruptcy protection.

The disclosures sent other tanker stocks down too.

** FREEPORT-MCMORAN COPPER & GOLD INC, $40.54, down 1.5 pct (0936 ET)

The company said third-quarter profit fell sharply, missing Wall Street estimates, due in part to a big drop in gold production at its vast Grasberg mine in Indonesia.

** ANCESTRY.COM INC, $31.53, up 8 pct (0941 ET)

The U.S. genealogy website Ancestry.com said it will be acquired by a group led by Europe-based private equity firm Permira in a $1.6 billion deal.

** VF CORP, $161.72, down 3 pct (1038 ET)

The clothing company missed Wall Street’s third-quarter revenue expectations, and growth in its flagship The North Face brand slowed.

** VOLCANO CORP, $29.00, up 8 pct (10.30 ET)

The medical device maker plans to report results from clinical studies of its intravascular ultrasound catheters and fractional flow reserve guide wires at the Transcatheter Cardiovascular Therapeutics conference in Miami between Oct. 22 and 26.

** NEXEN INC , $23.78, down 6.4 pct (0936 ET)

** TALISMAN ENERGY INC, $12.68, down 3.35 pct (0934 ET)

U.S.-listed shares of the Canadian oilsands producer, target of a $15.1 billion takeover bid from Chinese oil group CNOOC , fell on uncertainties after the Canadian government blocked the C$5.17 billion acquisition of Progress Energy Resources Corp by Malaysian state oil company Petronas on Friday.

There are fears now that the government might nix the CNOOC bid as well, as Canadians debate the prospect of more of the Alberta oil sands being controlled by a Chinese state-owned enterprise.

Shares of Talisman Energy were also down on the news.

** PROSPECT GLOBAL RESOURCES INC, $4.00, up 39 pct (0938 ET)

A state-owned Chinese fertilizer company signed a 10-year potash supply agreement with the U.S. miner, guaranteeing China a steady flow of the crucial fertilizer and helping it partially sidestep multinational suppliers like Potash Corp.

** CASCADE CORP, $64.93, up 18 pct (1050 ET)

Japanese machinery maker Toyota Industries Corp agreed to buy Cascade Corp, a maker of parts for the lift trucks industry, for $728 million.

** EMERSON RADIO CORP, $1.79, down 16 pct (0947 ET)

Emerson Radio on Friday said Wal-Mart will stop buying two of its microwave oven products from spring 2013.

** LDK SOLAR CO LTD, $0.80, up 13 pct (0939 ET)

The Chinese solar power equipment maker sold a stake amounting to 19.9 percent of its outstanding shares to state-backed Heng Rui Xin Energy, providing the debt-laden company with some much-needed liquidity.

** PEABODY ENERGY CORP, $28.58, up 10 pct (0939 ET)

** ARCH COAL INC, $8.60, up 9 pct (1033 ET)

** CONSOL ENERGY, $36.57, up 4 pct (1033 ET)

** JAMES RIVER COAL HOLDINGS, $5.28, up 6 pct (1033 ET)

** ALPHA NATURAL RESOURCES INC, $9.51, up 5 pct (1034 ET)

** WALTER ENERGY INC, $39.59, up 3 pct (1034 ET)

Coal miner Peabody’s third-quarter profit beat analysts’ expectations as improved U.S. margins and higher Australian sales volumes offset price declines.

Peabody’s results pushed up the stocks of its peers also.

** MERITOR INC, $4.84, up 10 pct (1003 ET)

Barclays Capital raised its rating on the truck parts maker to “overweight” from “equal weight,” citing an overlooked litigation option which could result in Meritor receiving about a $200 million settlement from a lawsuit it filed against Eaton Corp in 2006. [ID: nWNAB007RV]

** AVID TECHNOLOGY INC, $7.46, down 8.7 pct (0938 ET)

The company, which makes editing and recording software for digital media, estimated third-quarter results to miss Wall Street’s expectations, hurt by “some transitional issues related to implementation of strategic actions”.

** ZIOPHARM ONCOLOGY INC, $4.68, up 7.3 pct (0948 ET)

A report on Forbes’ website alleged that the cancer drugmaker withheld crucial information from its investors, including a regulatory warning letter related to mid-stage trial data of its chemotherapy drug palifosfamide.

** SUPERNUS PHARMACEUTICALS INC, $13.85, up 6.8 pct (0938 ET)

The company’s experimental epilepsy drug Oxtellar XR won marketing approval from the U.S. Food and Drug Administration, the second drug approval for the company since it went public in May.

** NIELSEN HOLDINGS NV $29.80, down 4.9 pct (1030 ET)

The TV ratings company reported third-quarter revenue below analysts’ estimates, hurt by lower customer spending for its Insights services.

** ADVANCE AUTO PARTS INC, $65.50, down 4.3 pct (0939 ET)

** O’REILLY AUTOMOTIVE INC, $80.02, down 0.7 pct (0940 ET)

** AUTOZONE INC, $362.90, down 1.6 pct (0940 ET)

** AUTONATION INC, $48.00, down 0.9 pct (0940 ET)

Advance Auto Parts cut its full-year outlook for the second time this year and forecast third-quarter earnings below analysts’ expectations. The auto parts maker said a drop in spending on maintenance and failure parts, especially in colder weather markets, could constrain its performance for the rest of the year.

Shares of competitors Autozone, O’Reilly Automotive and AutoNation also fell on the news.

** MANITOWOC CO INC, $14.61, down 4.2 pct (1032 ET)

Longbow Research downgraded the diversified industrial manufacturer’s stock to “neutral.”

** TEXAS INDUSTRIES, $44.62, up 4.15 pct (1016 ET)

Sterne Agee raised the construction materials supplier to “neutral” from “underperform” as end-market demand for the company’s products improves.

** SUNTRUST BANKS INC, $27.43, down 4 pct (1052 ET)

The bank’s third-quarter profit surged on the sale of its shares in Coca-Cola Co, but the lender forecast a weaker margin for the current quarter and said loan demand had slowed.

** EDWARDS LIFESCIENCES CORP, $82.65, down 4 pct (0949 ET)

The company said U.S. health regulators widened the approved use of its Sapien artificial heart valve to include patients who are eligible for surgery but at high risk of serious surgical complications or death.

** CAI INTERNATIONAL, $21.46, up 3.5 pct (1113 ET)

Keefe Bruyette & Woods assumed coverage on the container leasing and management company’s stock with “outperform” rating.

** INTERNATIONAL FLAVORS & FRAGRANCE INC, $64.50, up 4.5 pct (0949 ET)

Stifel Nicolaus raised the flavors and fragrance supplier to “buy” from “hold.”

** AMC NETWORKS INC, $46.95, up 3 pct (0941 ET)

** DISH NETWORK CORP, $36.39, up 2.6 pct (0942 ET)

** CABLEVISION SYSTEMS CORP, $18.44, up 0.3 pct (0942 ET)

Dish, United States’s third-largest pay-TV provider, settled a four-year old lawsuit filed by Cablevision and AMC over a high-definition programming agreement, according to statements from the companies on Sunday.

** BP PLC, $42.60, down 1.2 pct (1108 ET)

NK Rosneft’ OAO announced a two-part deal worth around $55 billion that gives British oil company BP a stake of 19.75 percent in the state-controlled Russian energy firm and two seats on the board, and offers an exit for the TNK-BP’s other shareholders AAR, as well.

** APPLE INC, $619.37, up 1.6 pct (0944 ET)

** ORACLE CORP, $30.53, up 0.2 pct (0945 ET)

Apple is removing old versions of Oracle Corp’s Java software from Internet browsers on the computers of its customers when they install the latest update to its Mac operating system.

** CITIGROUP, $37.28, up 0.3 pct (0945 ET)

Saudi billionaire Prince Alwaleed bin Talal, who has a stake in Citigroup, said on Monday the U.S. bank has great potential under new management following the departure of Vikram Pandit as chief executive.

** PFIZER INC, $25.59, down 0.6 pct (0940 ET)

The company said it would buy privately held NextWave Pharmaceuticals for $255 million, gaining access to the company’s attention deficit hyperactivity disorder drug, the first once-daily liquid medicine approved to treat the condition in the United States.

** ARCHER DANIELS MIDLAND CO, $28.23, down 1 pct (1109 ET)

The U.S. agriculture giant bid $2.8 billion for GrainCorp , sending shares in Australia’s last independent grains handler soaring, as markets bet on a higher offer price or rival bids being flushed out. (Reporting by Ranjita Ganesan in Bangalore)

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