November 5, 2013 / 8:49 PM / 5 years ago

MARKET PULSE-Oxygen, NQ Mobile, Biofuel, Gentiva, Hertz, ExlService

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; the Morning Call newsletter, U.S. stocks seesawed between modest gains and losses on Tuesday following two days of gains on Wall Street as investors weighed the implications of strong economic data for the path of monetary policy over the next several months. The Dow Jones industrial average was up 0.01 percent at 15,641.32. The Standard & Poor's 500 Index was down 0.10 percent at 1,766.12. The Nasdaq Composite Index was up 0.21 percent at 3,944.89.

** OXYGEN BIOTHERAPEUTICS INC, $8.68, up 69 pct (03:17 p.m. ET)

The medica products maker’s stock price doubled on Tuesday morning, continuing its rise that began on Oct. 30, when Oxygen said a Duke Clinical Research Institute analysis of data from 14 independent clinical trials on the use of its drug, levosimendan, showed the drug is associated with reduced mortality in patients undergoing heart surgery.

** NQ Mobile Inc, $9.66, down 19.1 pct (12:24 p.m. ET)

The Chinese mobile security software company continues to be hurt by Muddy Waters Research Group’s allegations of being a “massive fraud.”

The firm said on Thursday at least 72 percent of NQ’s purported 2012 revenue from sales of its security products in China was fictitious, coming from a shell company called Yidatong that Muddy Waters alleged was controlled by NQ. The firm also said NQ’s cash balances were “highly likely to not exist.”

** EXLSERVICE HOLDINGS INC, $23.41, down 19.4 pct (01.49 p.m. ET)

The provider of outsourcing services said late on Monday that it had received a notice of termination from The Travelers Indemnity Co. ExlService said the termination arose from an incident where its employees shared a procedural document externally. (

On Tuesday, J.P. Morgan Securities, Wells Fargo Securities and Oppenheimer & Co cut their rating on the company’s stock, while Stifel Nicolaus cut its price target.

** BIOFUEL ENERGY CORP, $2.69, down 17 pct (2:49 p.m. ET)

The ethanol producer said its lenders would sell the company’s ethanol plants to Green Plains Renewable Energy Inc . Biofuel Energy said it had earlier made a cash offer to its lenders for the plants, which has now expired.

** GENTIVA HEALTH SERVICES INC, $10.71, down 10.3 pct (03:33 p.m. ET)

The home healthcare and hospice services provider narrowed its full-year earnings forecast range after reporting third-quarter results well below analysts’ estimates, hurt by a cut in Medicare reimbursement and impact of sequestration.

** HERTZ GLOBAL HOLDINGS INC, $21.55, down 9.5 pct (3:06 p.m. ET)

Advantage Rent A Car, which Hertz hived off as part of a deal to buy Dollar Thrifty, will file for bankruptcy after Hertz terminated lease agreements that provided Advantage with its cars. Advantage’s owners said the book value of the cars passed to them at the time of the sale last year was too high.

** COMMERCIAL VEHICLE GROUP INC $7.06, down 9 pct (11.44 a.m. ET)

The supplier of cab-related products and systems said it expects global construction equipment business to remain flat for the rest of the year and estimated North America Class 8 builds to be about 252,000 in 2013.

The company reported a quarterly loss of 25 cents per share in the third quarter. Analysts on average had expected a profit of 8 cents per share, according to Thomson Reuters I/B/E/S.

** RITCHIE BROS. AUCTIONEERS INC, $21.15, up 8.4 pct (2.02 p.m. ET)

The seller of industrial equipment at auctions reported third-quarter results that beat analysts estimates as its auction revenue rate rose.

** ROCK-TENN CO, $101.08, down 7.6 pct (1.56 p.m. ET)

The maker of corrugated and consumer packaging products late on Monday reported fourth-quarter revenue that missed analysts estimates as container board shipments fell.

** EXPEDITORS INTERNATIONAL OF WASHINGTON INC, $43.70, down 5.6 pct (2:45 p.m. ET)

The logistics services provider reported third-quarter results that missed analysts estimates as the company absorbed carrier costs increases to maintain market share amid falling market ocean rates.

** ENDO HEALTH SOLUTIONS INC, $55.89, up 28 pct (11:55 a.m. ET)

The U.S.-based specialty pharmaceutical company said it would buy Canadian peer Paladin Labs Inc for about $1.6 billion to expand its presence in Canada and emerging markets.

** PHARMERICA CORP, $18.8, up 26 pct (01:07 p.m. ET)

The pharmacy services provider raised its full-year forecast after a strong third quarter when it reported higher gross earnings for every prescription dispensed. Chief Executive Greg Weishar said the company is poised to achieve organic growth in the near future. Pharmerica stock rose to its highest level in over three years on Tuesday morning.

** DEX MEDIA INC, $5.20, down 24 pct (11:50 a.m. ET)

The social and mobile marketing company’s third-quarter loss widened to $132 million, or $7.66 per share, from $13 million, or $1.25 per share, a year earlier, as operating costs rose almost 85 percent. The stock was one of the top percentage losers on the Nasdaq, with more than five times its 10-day moving average volumes changing hands.

** ORBITZ WORLDWIDE INC, $7.82, down 18 pct (11:55 a.m. ET)

posted quarterly earnings that trailed forecasts as costs rose and said it expects revenue from its airline ticketing business to decline in the fourth-quarter.

** GT ADVANCED TECHNOLOGIES INC, $10.06, up 20 pct (11:55 a.m. ET)

** RUBICON TECHNOLOGY, $10.66, up 21 pct

Apple Inc will open a manufacturing facility in Arizona in partnership with mineral crystal specialist GT Advanced Technologies to make sapphire materials for Apple’s popular electronics devices.

Sapphire materials company Rubicon rose on news of the deal as it could benefit from higher demand in the industry.

** CYTORI THERAPEUTICS INC, $3.58, up 71 pct (11:55 a.m. ET)

The medical device maker said on Monday it would receive up to $531 million from Chinese company Lorem Vascular as license fee for its stem cell therapy that removes fat cells from a patient’s body. These cells, which are then injected into the affected area, increase blood profusion and heal the wound. Lorem will market the therapy in Asia-Pacific.

** BROADSOFT INC, $25.67, down 22 pct (11:55 a.m. ET)

The internet communications company forecast fourth-quarter results below expectations, citing concerns about the short-term service provider spending. It also reported a third-quarter loss, compared with a profit a year earlier, as operating expenses rose.

** KERYX BIOPHARMACEUTICALS INC, $13.22, up 19 pct (11:55 a.m. ET)

The company said its sole drug in development, Zerenex, proved to be effective in treating patients with chronic kidney disease not on dialysis.

** RECON TECHNOLOGY LTD, $5.56, up 19 pct (11:55 a.m. ET)

The Chinese oilfield services provider said it received several orders for specialized oilfield furnaces valued at $1.9 million from China National Petroleum Co. The company said it expects to complete the orders before the end of 2013.

** IMMUNOGEN INC, $13.29, down 19 pct (12:00 p.m. ET)

The biotechnology company said it would discontinue a mid-stage trial of its experimental small-cell lung cancer drug following the death of a patient.

** CUTERA INC, $8.64, down 12 pct (12:00 p.m. ET)

The medical device maker posted a bigger-than-expected quarterly loss, citing continued softness in its Canadian operations and a decline in its footcare business.

** POLYPORE INTERNATIONAL INC, $37, down 15 pct (12:00 p.m. ET)

The maker of specialized microporous membranes reported third-quarter results below analysts estimates late on Monday as consumer electronics orders remained weak and electric drive vehicles volumes declined.

At least three brokerages - Wedbush Securities Inc, Stifel Nicolaus and D.A. Davidson & Co - cut their price targets on the company’s stock.

** SYKES ENTERPRISES INC, $20.80, up 14 pct (12:00 p.m. ET)

The business process outsourcing company reported better-than-expected quarterly profit, helped by higher revenue from Europe, Middle East and Africa.

** VITAMIN SHOPPE INC, $50.75, up 13 pct (12:00 p.m. E.T)

The health supplement retailer reported better-than-expected quarterly profit, helped by improving store traffic and its acquisition of Super Supplements.

** TTM TECHNOLOGIES INC, $9.75, up 13 pct (12:00 p.m. ET)

Brokerage JP Morgan upgraded the printed circuit board maker’s stock to “overweight” from “neutral”, according to

** ADVANCED ENERGY INDUSTRIES INC, $23.42, up 13 pct (10.26 a.m. ET)

The power company’s third-quarter profit beat average analysts’ estimate, helped by higher thin film sales, and it forecast higher-than-expected profit for the current quarter.

** PIKE ELECTRIC CORP, $9.29, down 15 pct (11:39 a.m. ET)

The company, which provides maintenance and repair services for electric and communication infrastructure, reported a lower-than-expected first-quarter profit on Monday, hurt by lower revenue from storm restoration services. Pike Electric said revenue fell 21 percent in the quarter ended Sept. 30.

** MEDICAL ACTION INDUSTRIES INC, $6.71, up 12 pct (10:55 a.m. ET)

The supplier of medical and surgical disposable products reported a higher quarterly profit, helped by a reduction in costs. Second-quarter earnings rose to $1.1 million, or 7 cents per share, from $0.1 million, or $0.00 per share, a year earlier.

** LEAPFROG ENTERPRISES INC, $7.79, down 10 pct (12:00 p.m. ET)

The toy company cut its full-year sales forecast as rising competition hurt demand for its LeapPad tablets. The company also said it “sees a weak retail climate and growing concern surrounding this holiday season, especially in the U.S.”

** USEC INC, $6.87, down 10 pct (11:55 A.M. ET)

The enriched uranium fuel supplier reported a third-quarter loss on Monday, compared with a year-ago profit, due to lower revenue at the business that separates different isotopes of uranium. The company said it experienced cost pressures due to delays in deployment of its uranium enrichment gas centrifuge technology.

** DEMANDWARE INC, $56.65, up 16 pct (12:48 p.m. ET)

The company, which makes software that powers e-commerce sites, reported a smaller-than-expected third-quarter loss as it added more customers and said it expanded its contract with L’Oreal.

** GIGAMON INC, $28.91, down 11 pct (12:11 p.m. ET)

The maker of traffic management software forecast fourth-quarter adjusted earnings largely below Wall Street estimates. The company expects earnings of 10 cents to 12 cents per share, while analysts on average expected 12 cents, according to Thomson Reuters I/B/E/S. Gigamon also said gross margins will fall and operating expenses will rise in the fourth quarter.

** ZEBRA TECHNOLOGIES CORP, $52.96, up 9 pct (12:18 p.m. ET)

The printing device maker reported better-than-expected third-quarter results and forecast the current quarter well ahead of expectations. The company said it expects to benefit from customers in manufacturing, retail and healthcare industries, and expects Big Data and cloud computing to boost its business.

** BLACK DIAMOND INC, $13.52, down 8 pct (10:39 a.m E.T)

The sports equipment maker reported third-quarter revenue on Monday that fell short of analysts’ estimates, hurt by delayed product shipments and the recall of its Pieps Vector Avalanche Transceiver.

** CORINTHIAN COLLEGES INC, $2.10, down 2.7 pct (12:00 p.m. ET)

The post-secondary education services provider reported first-quarter results that missed analysts estimates as new enrollment declined 8.1 percent and forecast second-quarter revenue to be largely below Wall Street expectations.

** STONE ENERGY CORP, $32.67, down 8 pct (10:54 a.m. ET)

The oil and gas producer’s third-quarter profit fell short of market estimates due to lower-than-expected oil output. The company also forecast lower fourth-quarter production due to logistical and weather-related constraints, including Tropical Storm Karen and other unplanned downtime.

** BALTIC TRADING LTD, $5.278, up 7 pct (10:35 ET)

The dry bulk shipper said it acquired two capesize vessels for $103 million, expanding it fleet by 49 percent on a tonnage basis.

** PETROQUEST ENERGY INC, $4.50, down 7 pct (10:49 a.m. ET)

The oil and gas producer reporter lower-than-expected results for the third quarter as its oil production fell below analysts estimates.

** LUMINEX CORP, $18.19 down 6 pct (10:44 a.m. ET)

The maker of molecular diagnostic products reported lower-than-expected quarterly results, citing a significant order delay from its largest customer, and cut its 2013 revenue forecast to $212-$217 million from $220-$230 million.

** AMERICAN EQUITY INVESTMENT LIFE HOLDING CO, $21.35, up 5.6 pct (10:55 a.m. ET)

The company, which underwrites fixed rate annuities, posted a third-quarter profit compared to a year-earlier net loss as it earned more investment income and expenses fell 6 percent. American Equity reported net income of $56.2 million, or 75 cents per share, in the quarter ended Sept. 30, compared with a net loss of $7.8 million, or 13 cents per share, a year earlier.

SYNCHRONOSS TECHNOLOGIES INC, $35.04, down 5.5 pct (11:40 a.m. ET)

The mobile billing software company posted cloud services revenue below market expectations, according to FBR Capital analyst Dan Ives. The company’s cloud services revenue of $26.9 million accounted for about 30 percent of total revenue. Analysts were looking for cloud revenue of $32.2 million, according to Ives.

** MGIC INVESTMENT CORP, $8.43, up 4 pct (10:45 a.m. ET)

Brokerage Keefe, Bruyette & Woods upgraded its rating on the mortgage insurer’s stock to “outperform” from “market perform” and raised its price target to $10 from $9.

** CHARTER COMMUNICATIONS INC, $131.48, down 3.9 pct (12:32 p.m. ET)

The cable operator reported a net video subscriber loss of 27,000.

** MCDERMOTT INTERNATIONAL INC, $7.3, down 1.6 pct (12:00 p.m. ET)

The engineering and construction firm reported a wider-than-expected quarterly loss on Monday due to lower revenue from two projects in Australia and increased cost estimates on a project in Malaysia.

** REGENERON PHARMACEUTICALS INC, $296.98, up 5.4 pct (12:00 p.m. ET)

The company reported better-than-expected quarterly results after net U.S. sales of its eye drug Eylea jumped 49 percent to $363 million in the third quarter.

** AOL INC, $42.05, up 8.4 pct (12:00 p.m. ET)

The online media group reported a 6 percent rise in third-quarter revenue, helped by a rise in advertising sales.

** QUICKSILVER RESOURCES INC, $2.39, up 11.6 pct (12:00 p.m. ET)

Italian oil and gas group Eni said it had reached an agreement with Quicksilver to explore and develop onshore shale oil reservoirs in the United States. Eni said it would pay up to $52 million to take a 50 percent stake in Quicksilver acreage in the Leon Valley area in West Texas.

** ENCANA CORP, $18.68, up 4.6 pct (12:00 p.m. ET)

Canada’s largest natural gas producer will cut about 20 percent of its workforce, slash its dividend and invest nearly three-quarters of its 2014 capital spending budget in more lucrative oil and liquid gas assets.

** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $88.32, up 1.6 pct (12:05 p.m. ET)

The IT services firm reported a better-than-expected 22 percent rise in revenue, helped by contracts from insurers setting up online exchanges as part of President Barack Obama’s healthcare reforms.

** DIAMONDBACK ENERGY INC, $56.04, up 5 pct (11.15 a.m. ET)

Analysts at Topeka Capital Markets raised their price target on the oil and gas producer’s stock to $64 from $60, citing the company’s development activities in Wolfcamp in the Permian Basin of West Texas.

** MICHAEL KORS HOLDINGS LTD, $79.38, up 6.1 pct (12:05 p.m. ET)

The company reported a higher-than-expected 40 percent jump in quarterly revenue said would open about 100 stores in 2014 as demand for luxury goods such as its trendy handbags and watches shows no sign of fading.

** FOREST OIL CORP, $4.38, down 12.7 pct (12:05 p.m. ET)

The company reporter lower-than-expected results on Monday as its oil and natural gas liquids production volumes fell short of analysts’ expectations. The company also said it expects fourth-quarter output to dip 2 to 4 percent from the third quarter.

** CORNERSTONE ONDEMAND INC, $51.68, up 12 pct (12:05 p.m. ET)

The HR software maker said third-quarter revenue rose 50 percent, helped by strength in its North American and EMEA (Europe, Middle-East and Africa) business.

** TENET HEALTHCARE CORP, $42.63, down 11.7 pct (12:05 p.m. ET)

The company said its third-quarter net income slid from a year earlier due to costs related to its acquisition of smaller hospital chain Vanguard Health Systems Inc. Tenet completed the acquisition of Vanguard for about $1.8 billion on Oct. 1 to expand into new markets and position itself to benefit from an increase in patients who have health insurance under President Barack Obama’s healthcare reform.

** SAFE BULKERS INC, $8.82, up 6 pct (11.46 a.m. ET)

Citigroup analysts raised their rating on the dry bulk company to “buy” from “neutral”, according to

** DRYSHIPS INC, $3.27, up 1 pct (12:05 p.m. ET)

** OCEAN RIG UDW INC, $20.25, up 12.2 pct

DryShips’ drilling unit, Ocean Rig, is in the early stages of creating a new master limited partnership (MLP) with an initial public offering targeted during the second quarter of 2014.

Analysts say the formation of an MLP would be a positive, given DryShips’s 59 percent stake in Ocean Rig and the corresponding increase in cash flow from MLP distributions.

** INTERMUNE INC, $13.74, down 8 pct (12:51 p.m. ET)

The California drugmaker said on Monday it plans to offer about 6.5 million shares in a public offering, and will use proceeds to fund marketing and a clinical trial of its lung drug, Esbriet.

** ORANGE SA, $13.05, down 4.5 pct (12:10 p.m. ET)

The French telecom group’s rival Bouygues Telecom lowered prices for bundled services, sparking worries of a price war in France.

** FABRINET, $19.22, up 12 pct (1:13 p.m. ET)

The maker of precision optical devices reported better-than-expected first-quarter results, helped by higher demand for their products, and forecast current-quarter results above analysts’ estimates. At least two brokerages raised their price targets on the company’s stock.

** NTELOS HOLDINGS CORP, $21.23, up 9.9 pct (11:44 a.m. ET)

The company’s third-quarter profit more than doubled as more people subscribed to its telecom services.

** OPEN TEXT CORP, $79.15, up 6.5 pct (12:05 p.m. ET)

The Canadian business software maker said it would buy privately held cloud computing company GXS Group Inc for $1.17 billion.

** ROVI CORP, $16.42, down 2 pct (12:05 p.m. ET)

Goldman Sachs lowered its rating on the software maker’s stock to “sell” from “neutral”, according to Rovi’s software is used in home entertainment devices to play various digital media formats.

** PANDORA MEDIA INC, $26.42, up 2.9 pct (09:57 a.m. ET)

The largest U.S. Internet radio service said its share of active listeners rose 20 percent to 70.9 million at the end of October, from a year earlier.

** ORANGE SA, $13.05, down 4.5 pct (12:10 p.m. ET)

The French telecom group’s rival Bouygues Telecom lowered prices for bundled services, sparking worries of a price war in France.

** MINDRAY MEDICAL INTERNATIONAL LTD, $35.99, down 3 pct (12:05 p.m. ET)

The medical device maker reported third-quarter revenue that fell short of analysts’ estimates on Monday and said weak market sentiment in China’s healthcare sector delayed some purchases. The company also announced it plans to buy back up to $200 million of its common shares effective Monday. (Compiled by Natalie Grover; Editing by Don Sebastian)

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