October 28, 2013 / 4:16 PM / 5 years ago

MARKET PULSE-Changyou, Petrobras, Sohu, Fusion-io, Rentech, Merck

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

Oct 28 (Reuters) - U.S. stocks were little changed on Monday as investors found few reasons to keep pushing shares higher after the S&P 500 climbed to a series of records on expectations for continuing Federal Reserve stimulus. The Dow Jones industrial average was up 0.02 percent, the S&P 500 was up 0.15 percent and the Nasdaq Composite was down 0.09 percent at 3,939.94.

** CHANGYOU.COM LTD, $28.80, down 19.35 pct (11:15 a.m. ET)

The China-based game developer reported third-quarter revenue below expectations as online gaming revenue fell 3 percent. It also forecast current-quarter earnings of 34 cents-41 cents per American depositary share, much below analysts’ estimates of $1.39 per ADS.

** SOHU.COM INC, $69.24, down 15 pct (11:00 a.m. ET)

The Chinese Internet portal reported better-than-expected third-quarter results but said current-quarter earnings are expected to be reduced by 12 cents-14 cents due to compensation expenses related to share-based awards.

** RENTECH NITROGEN PARTNERS LP, $20.25, down 14 pct (11:03 a.m. ET)

The nitrogen fertilizer producer lowered its estimates of ammonia production for its East Dubuque facility in early 2014 due to an unplanned repair of a compressor. Fourth-quarter outlook for the facility will be reduced due to increased costs and lower sales, the company said.

** TRINA SOLAR LTD, $14.11, down 12 pct (11:44 a.m. ET)

** JA SOLAR HOLDINGS CO LTD, $9.35, down 8 pct


** RENESOLA LTD SOL.N, $4.12, down 8 pct

Shares of Chinese solar companies, which rely on government funding and policies, fell as fear of a possible cash crunch lingered. While short-term money rates eased from highs not seen since late June’s dramatic crunch, there was wariness ahead of Tuesday’s first of two weekly central bank operations. The People’s Bank of China did not inject funds at the last three sessions, even with demand spiking near month’s end.

** BUILDERS FIRSTSOURCE INC $7.77, up 6.8 pct (10:59 a.m. ET)

Imperial Capital analyst Scott Levine in a note said given some signs of moderation in order rates for houses, the company didn’t see any signs of a slowdown yet, and raised the target price to $8.50 from $8.

Builders Firstsource is a supplier and manufacturer of structural and related building products for homes.

** EDWARDS LIFESCIENCES CORP, $73.35, down 4.8 pct (11:25 a.m. ET)

The company reported higher-than-expected quarterly earnings, but investors were disappointed with the pace of U.S. sales of its newest artificial heart valves.

** VANTIV INC, $27.13, up 3.6 pct (10:54 a.m. ET)

Credit Suisse added the payment processor to its “U.S. focus list” saying the company is expected to post long-term organic revenue growth and outperform its peer group. The brokerage said Vantiv will continue to take share from competitors due to cost advantages and under-penetration in key markets.

** BAIDU INC, $154.84, down 2.8 pct (11:30 a.m. ET)

China’s Suning Commerce Group and Hony Capital, an affiliate of Lenovo Group, will invest $420 million in PPTV, a Chinese online TV services provider, Suning said in a statement on Monday.

Baidu owns PPStream, a major rival of PPTV, in which Hony Capital is investing.

** MERCK & CO INC, $45.36, down 2.5 pct (11:09 a.m. ET)

The drugmaker reported better-than-expected third-quarter earnings on Monday thanks to cost cutting, but lower sales of its Januvia diabetes treatment added fresh evidence its biggest product was losing ground to newer drugs.

** BURGER KING WORLDWIDE INC, $20.49, up 3.7 pct (11:10 a.m. ET)

The fast-food chain known for its Whopper hamburgers reported a better-than-expected third-quarter profit as it slashed costs by franchising more outlets and sales grew outside North America.

** FUSION-IO INC, $10.80, up 13 pct (11:17 a.m. ET)

Chief Executive Shane Robison bought 105,500 shares of the company on Friday, according to a regulatory filing. This was the first time that Robison, who became CEO in May, bought shares in the company. “I am not aware of the old CEO - David Flynn - ever purchasing shares,” Piper Jaffray analyst Andrew Nowinski said.

** LIFEVANTAGE CORP, $2.27, down 12.3 pct (11:19 a.m. ET)

The nutritional products maker priced a Dutch auction tender offer for up to $40 million of its common shares at $2.45 per share, which was at the low end of its projected range of $2.45-$2.80 per share and below the stock’s Friday close of $2.59.

** GLU MOBILE INC, $3.78, up 10.6 pct (11:18 a.m. ET)

The mobile game maker’s “Deer Hunter” game, launched last month, has exceeded performance expectations, and could lead the company to raise its forecast for 2013, Benchmark Co analyst Mike Hickey wrote in a note. The company will report third-quarter results on Wednesday.

** DENDREON CORP, $2.79, up 10.3 pct (11:15 a.m. ET)

The drug maker is looking for a suitor after sales for its lead product, prostate cancer drug Provenge, were weaker than expected, according to a Bloomberg report.

** PETROLEO BRASILEIRO SA, $17.16, up 7.8 pct (11:19 a.m. ET)

The cost of developing the giant offshore Libra oil field will not delay other projects in the portfolio of Brazil’s state-run oil company, Director of Exploration Jose Formigli Filho said on a phone conference. The company said on Friday that it was discussing a new fuel price methodology in order to better align domestic prices with those abroad.

** ONCOGENEX PHARMACEUTICALS INC, $7.81, up 8.3 pct (11:21 a.m. ET)

Needham & Co analyst Chad Messer upgraded his rating on cancer drug developer’s stock to “strong buy” from “buy,” saying its prostate cancer drug which is currently being tested in combination with chemotherapy generic docetaxel in a mid-stage trial, has a high chance of success.

** GOGO INC, $16.90, up 4.1 pct (11:17 a.m. ET)

The in-flight internet connectivity provider said it has signed a contract to offer internet services on Japan Airlines’ entire domestic fleet, comprising 77 aircraft.

** CROCS INC, $13.09, down 4.3 pct (10:57 a.m. ET)

Brokerage Piper Jaffray cut its rating on the shoe maker’s stock to “neutral” from “overweight,” TheFlyOnTheWall.com reported.

** CF INDUSTRIES HOLDINGS INC, $217.58, up 3.8 pct (10:59 a.m. ET)

** MOSAIC CO, $46.12, up 0.4 pct (11:00 a.m. ET)

Mosaic said it would buy the phosphate business of the fellow U.S. fertilizer company for $1.2 billion in cash.

** TENNECO INC, $54.23, up 2.5 pct (11:01 a.m. ET)

The auto parts maker reported third-quarter results above analysts’ expectations as strong vehicle sales in the United States boosted demand for parts.

** TRIMAS CORP, $41.02, down 2 pct (11:02 a.m. ET)

The company, which makes packaging equipment, gaskets and aerospace fasteners, reported third-quarter profit above analysts’ expectations as it got a boost from recent acquisitions and the company raised its sales forecast for 2013.

** ANACOR PHARMACEUTICALS INC, $12.49, down 2.7 pct (11:05 a.m. ET)

The company will get $142.5 million from Canada’s Valeant Pharmaceuticals International Inc after the companies settled intellectual property-related disputes.

** BRISTOL-MYERS SQUIBB CO, $51.37, up 5.3 pct (11:06 a.m. ET)

Analysts at Morgan Stanley raised their rating on the drugmaker’s stock to “overweight” from “equal weight,” according to theflyonthewall.com.

** MYRIAD GENETICS INC, $25.86, up 2 pct (11:07 a.m. ET)

The molecular diagnostics company said validation data demonstrated the company’s lung cancer test significantly predicted patients’ risk of death from early-stage lung adenocarcinoma, a form of lung cancer, within five years of being diagnosed.

** AMC NETWORKS INC, $68.68, down 2.4 pct (11:11 a.m. ET)

** LIBERTY MEDIA CORP, $150.83, down 0.4 pct (11:12 a.m. ET)

The cable television network said it would buy Chellomedia, the international content unit of John Malone’s Liberty Global Plc, for about $1.04 billion, giving it greater control over the global distribution of its programs.

** NQ MOBILE INC, $8.50, down 19 pct (11:13 a.m. ET)

The Chinese mobile security software company labelled a “massive fraud” by Muddy Waters Research Group, hit back on Friday by releasing details of its bank accounts and threatening legal action.

** ZOGENIX INC, $3.08, up 1.3 pct (11:14 a.m. ET)

The specialty pharmaceutical company said on Friday that the U.S. Food and Drug Administration approved its drug for treating pain severe enough to require around-the-clock, long-term treatment.

William Blair analyst Tim Lugo raised his price target on the company’s stock to $6 from $3, saying that the drug had a substantial opportunity in the market for chronic pain drugs.

“If we assume a relatively conservative $7 per day and an average 25 days of therapy, only a 1 percent penetration into the combination market would suggest a $245 million product,” he wrote in a note to clients.

** ROPER INDUSTRIES INC, $127.20, down 4.3 pct (11:16 a.m. ET)

The company, which makes radio frequency and medical and scientific imaging products, forecast current-quarter profit below analysts’ estimates, saying it expects growth in the energy industry and some other markets to be slower-than-expected. (Compiled by Sampad Patnaik; Editing by Joyjeet Das)

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