February 5, 2014 / 9:00 PM / 4 years ago

MARKET PULSE-3D Systems, Buffalo Wild Wings, Actuate, Elizabeth Arden

(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) U.S. stocks bounced off a technical support level on Wednesday, after the S&P 500 hit its lowest level since mid-October, although mixed data gave investors few reasons to buy equities. The Dow Jones industrial average was unchanged at 15,444.86, the S&P 500 was down 0.18 percent at 1,752.04 and the Nasdaq Composite was down 0.34 percent at 4018.29.

** 3D SYSTEMS CORP, $64.14, -15.34 pct

** EXONE CO, $39.76, -11.09 pct

** STRATASYS LTD, $110.77, -6.15 pct

** VOXELJET AG, $31.8, -6.55 pct

The largest 3D printer company slashed its profit estimate for 2013, reviving fears of a bubble in the 3D printing industry and sending its shares down as much as 28 percent. Shares of its rivals also fell after the warning.

** BUFFALO WILD WINGS INC, $127.06, -9.73 pct

The restaurant chain reported lower-than-expected quarterly sales as fewer people ate out in the severe U.S. winter. The company posted revenue of $341.5 million, for the fourth quarter ended Dec. 29, compared with analysts’ average estimate of $346.9 million.

** AUSPEX PHARMACEUTICALS INC, $15.99, +33.25 pct

The pharmaceutical company’s shares soared on their debut on the Nasdaq after its offering of 7 million shares was priced at $12 each, raising about $84 million.


Shares of the company, controlled by private equity firm Lone Star Funds, rose as much as 13 percent in their market debut, valuing the company at about $694 million.

** LAZARD LTD, $43.46, +1.09 pct

The investment bank and asset manager reported a better-than-expected 35 percent rise in fourth-quarter profit as merger advisory revenue rose in a recovering M&A market.

** RADIAN GROUP INC, $15.25, +6.42 pct

The biggest U.S. private mortgage insurer reported a quarterly profit after four straight losses as fewer homeowners defaulted on their loans in a recovering housing market. Mortgage insurers have been writing more profitable insurance policies as fewer people default on home loans, largely helped by a recovery in the U.S. housing market.


The IT services provider forecast a slower-than-expected revenue growth for the current fiscal, after reporting a fourth-quarter results that matched market estimates.

** LAS VEGAS SANDS CORP, $74.04, -1.32 pct

** WYNN RESORTS LTD, $209.49, -1.90 pct

** MGM RESORTS INTERNATIONAL, $23.64, -2.31 pct


Gaming revenues in Macau, the world’s casino capital, grew at their slowest pace in 15 months in January, raking in a lower-than-expected 28.7 billion patacas ($3.6 billion), due to tempered spending by Chinese visitors ahead of a national holiday.

** HILLENBRAND INC, $28.25, +8.11 pct

The diversified industrial company said it expects revenue to grow in mid-single digits in percentage terms in its process equipment business in 2014. Coperion, which makes compounding, extrusion and bulk material handling equipment used in a broad range of industries, said quarterly revenue rose 26 percent, helped by its Coperian acquisition in 2012.

** THE HAIN CELESTIAL GROUP INC, $85.58, -5.95 pct

The organic products company reported on Tuesday second-quarter sales that missed analysts’ estimate due to a slowdown in its U.S. business. JP Morgan Securities cut its target price on the stock to $102 from $105 while BB&T Capital Markets cut its target to $100 from $102.

** LEVEL 3 COMMUNICATIONS INC, $34.57, +10.06 pct

The telecommunication network services provider reported a higher-than-expected profit for the fourth quarter due to a rise in core network services revenue.

The company said it expected its core network services revenue growth in 2014 to be higher than the 2.9 percent reported for 2013.

** ACTUATE CORP, $5.975, -17.70 pct

Brokerage Drexel Hamilton cut its rating on the business management and analytics software maker's stock to "hold" from "buy," according to Theflyonthewall.com. (link.reuters.com/haj66v)

** ESTEE LAUDER COS INC, $65.4, -5.48 pct

The beauty products maker forecast current-quarter profit below analysts’ estimate, citing weak demand in European countries and South Korea and slowing growth in China. The company, known for its Estee Lauder, Clinique and MAC brands, also reported second-quarter sales below estimates.

** ELIZABETH ARDEN INC, $24, -6.58 pct

The beauty products company reported a 22 percent fall in second-quarter net income, hurt by a 13 percent decline in sales in North America.

Elizabeth Arden said net sales were hit by weaker than expected holiday retail sales and replenishment orders at some of its mass and mid-tier retail accounts, in part due to lower traffic.

** EXTREME NETWORKS INC, $5.9375, -15.66 pct

The ethernet switch maker forecast weak current-quarter results, after reporting a second-quarter loss that nearly quadrupled from a year earlier as gross margins dropped sharply.

** AGENUS INC, $2.69, -7.24 pct

The biotechnology company priced a public offering of 19.3 million shares of its common stock at $2.70 per share. The pricing represents a 7 percent discount to the stock’s closing price on Tuesday.

** CENTRAL GARDEN & PET CO, $6.9, +7.48 pct

The garden and pet supplies maker reported a narrower quarterly loss, helped by improved gross margins and lower expenses. First-quarter loss narrowed to 26 cents per share from 32 cents a year earlier.

** OMNICELL INC, $27.225, +8.55 pct

The provider of healthcare services and products to hospitals and home-care facilities reported better-than-expected quarterly results on Tuesday.

“Given the solid results and management’s positive commentary regarding the pipeline, we think OMCL is well positioned for 2014,” Cowen and Co analyst Charles Rhyee wrote in a note.


Deutsche Bank analysts raised their rating on the silver producer’s stock to “hold” from “sell” after the company said it would buy the Marigold mine in Nevada from joint owners Goldcorp Inc and Barrick Gold for $275 million to increase its exposure to gold.

** RYANAIR HOLDINGS PLC, $51.595, +4.93 pct

Cantor Fitzgerald raised its price target on the airline’s Ireland-listed stock to 8.30 euros from 7 euros, saying that winter fare discounting led to higher passenger numbers in the third quarter and strong bookings.

** TIDEWATER INC, $46.83, -7.25 pct

The offshore vessels provider reported a 58 percent drop in third-quarter profit on Tuesday, hurt by a fall in its vessel revenue from the Sub-Saharan Africa and Europe regions.

** CBL & ASSOCIATES PROPERTIES INC, $16.53, -4.78 pct

The U.S. mall owner said growth in occupancy and net operating income in the third quarter was lower than it had expected.

** ARAMARK HOLDINGS CORP, $26.2, +4.84 pct

The food services provider reported better-than-expected quarterly results, as new business and high client retention rates drove strong growth in sales.

** SPANSION INC, $15.03, +4.23 pct

At least five brokerages raised their price targets on the flash memory product maker’s stock after the company forecast first-quarter revenue in line with Wall Street estimates and reported a 40 percent rise in quarterly sales.

“Spansion is seeing pricing improve,” Pacific Crest Securities analyst Monica Garg wrote in a note. “Demand is also picking up in the gaming business that adversely affected results last year.”

** ARROW ELECTRONICS INC, $49.02, -0.99 pct

The technology products distributor forecast first-quarter revenue largely below Wall Street estimates.

“We expect no meaningful change to the markets we serve in the first quarter of 2014,” the company said in a statement.

** MUELLER WATER PRODUCTS INC, $8.94, +7.07 pct

The company reported a first-quarter profit due to higher sales of its valves and brass products. Analysts on average had expected the company to break even, according to Thomson Reuters I/B/E/S.

** PIKE CORP, $10.5, +4.06 pct

The specialty construction and engineering firm serving utilities reported a better-than-expected profit for the second quarter, helped by a 5 percent rise in construction revenue.

** HNI CORP, $34.07, +5.68 pct

The company reported better-than-expected results for the fourth quarter, helped by growth in sales in its hearth division and improved operating profit in its office furniture division.

** ADVANTAGE OIL AND GAS LTD, $3.72, -6.06 pct

The oil and gas explorer said on Tuesday that it had completed reviewing its strategic alternatives and did not find an acceptable proposal for the company.

The company had earlier said it was looking to sell itself.


The disposable medical products maker reported a better-than-expected profit for the third quarter due to higher sales and lower costs.

** KIMBALL INTERNATIONAL INC, $16.28, +12.98 pct

The company’s second-quarter profit more than doubled as sales at both its electronic manufacturing services and furniture businesses rose.

** RADCOM LTD, $5.78, +8.04 pct

The Israel-based company, which makes test equipment and software for computer networks, returned to profit in the fourth quarter and reported a 30 percent rise in its quarterly revenue, helped by a 34.4 percent fall in financial expenses.

** NANOMETRICS INC, $17.6, +7.25 pct

At least two brokerages raised their price targets on the company’s stock after the maker of devices that measure thickness of thin films used in precision electronic gear forecast first-quarter revenue above Wall Street estimates and reported better-than-expected fourth-quarter results.

“We expect NANO to be the fastest-growing semiconductor equipment stock over the next two years,” Pacific Crest Securities analyst Weston Twigg wrote in a note.

** ARCH COAL INC, $3.95, -6.62 pct

BMO Capital Market analysts cut their price target on the coal producer’s stock to $3.50 from $4, citing the company’s lower-than-expected coal sales forecast for 2014. Analysts also lowered their 2014 earnings forecast for the company to a loss of $1.70 per share from a loss of $1.46 per share.

** CLAYTON WILLIAMS ENERGY INC, $84.93, +12.10 pct

SunTrust Robinson Humphrey analysts raised their rating on the oil and gas producer’s stock to “buy” from “neutral,” citing stronger productivity, greater oil output and a lower cost structure for 2014. The analysts said upcoming well tests in the Delaware Basin and asset sales were also positives.

** HALOZYME THERAPEUTICS INC, $13.155, -4.54 pct

The drugmaker said its public offering of 7.7 million common shares was priced at $13 per share. All the shares in the offering are being sold by Halozyme.


The Israeli company, which provides workforce management software and services, forecast full-year results above analysts’ estimates, citing a “strong pipeline of new business opportunities for the year ahead.”

** CORINTHIAN COLLEGES INC, $1.3, -7.80 pct

The for-profit education company said it was reducing marketing and admissions spending for its online programs and that it expected total new enrollments to fall in the current quarter, after reporting a 14.4 percent decline in new enrollments for the second quarter.


The specialty pharmaceutical company appointed Doug Drysdale as chief executive and said a group of institutional investors agreed to buy $65 million of 8 percent convertible senior notes due 2019, which would provide the company capital to buy specialty products for its portfolio.

Drysdale replaces Mike Pearce, who resigned from his post as CEO.

Pernix also said it would pay about $1.3 million to former shareholders of Cypress Pharmaceuticals Inc, which it bought in 2012, to settle legal claims.

** C.H. ROBINSON WORLDWIDE INC, $53.27, -9.16 pct

The third-party provider of freight transport reported a lower-than-expected quarterly profit, as higher costs per mile led to a lower truckload net revenue margin. The truckload business accounts for more than half of C.H. Robinson’s sales.

** OMEROS CORP, $11.88, +5.60 pct

The drugmaker said the U.S. Food and Drug Administration had granted fast-track status to the company’s experimental treatment for cognitive impairment in patients with Huntington’s disease, a genetic disorder that affects the brain.

Fast-track status helps expedite the review of drugs to treat serious diseases and fill unmet medical needs. Drugs that are eligible for the designation are likely to receive a priority review.

** HUMANA INC, $95.76, -1.75 pct

The U.S. health insurer said it had received 202,000 applications through Jan. 31 for 2014 Obamacare health insurance plans in the 14 states where it offers them.

Humana made the disclosure as it reported a fourth-quarter loss due to a $243 million charge to set aside financial reserves for a group of long-term care policies that it no longer sells.

** MYRIAD GENETICS INC, $31.34, +15.31 pct

** SAFEGUARD SCIENTIFICS INC, $18.16, +2.95 pct

Molecular diagnostics company Myriad Genetics said it planned to buy Crescendo Bioscience for $270 million to enter the autoimmune market, and raised its full-year forecast.

Venture capital and private equity firm Safeguard Scientifics, which said it has a 13 percent primary ownership position in Crescendo, said it would get about $40 million in aggregate cash proceeds from the deal.

** SYNGENTA, $67.5, -3.57 pct

The company is to step up cost-cutting to save $1 billion a year by 2018 after the world’s largest maker of crop chemicals reported an 11 percent fall in profit for last year.

** TABLEAU SOFTWARE INC, $90.1, +13.43 pct

The data analysis software maker forecast better-than-expected current-quarter revenue after reporting quarterly results that handily beat analysts’ estimates.

** TESLA MOTORS INC, $174.25, -2.51 pct

The luxury U.S. electric carmaker is taking a bold step in China to win over clients and cachet by curbing the markup to just half of what some of its rivals can command. Though it risks relegating its brand to a lower tier, Tesla’s marketing strategy could prove a model for other imported brands, which have come under fire from China state media and regulators for allegedly ripping off shoppers with inflated prices.

** COVANCE INC, $99.5, +5.55 pct

The research services provider reported a better-than-expected 19 percent jump in quarterly adjusted profit as it gained from higher investments in later stages of drug development by pharma companies.

** GENWORTH FINANCIAL INC, $14.95, +2.89 pct

The life and mortgage insurer reported a better-than-expected quarterly profit as a recovery in housing markets helped its U.S. mortgage insurance business.

** USANA HEALTH SCIENCES INC, $68.78, +17.92 pct

The skincare products company reported better-than-expected results for the fourth quarter on Tuesday, helped by growth in sales, lower expenses and a lower effective tax rate.

USANA also forecast 2014 results above analysts’ estimates.

** GENOMIC HEALTH INC, $26.88, -8.88 pct

The genomic-based diagnostic tests maker posted a quarterly loss mainly due to higher operating expenses and the company forecast weak revenue for 2014.

At least three brokerages cut their price targets on the company’s stock, citing the full-year forecast, which was below analysts’ estimates.

** QUINSTREET INC, $7.07, -8.66 pct

J.P. Morgan Securities cut its price target on the online marketing company’s stock to $7 from $8, after Quinstreet forecast third-quarter revenue below Wall Street expectations and reported lower-than-expected second-quarter revenue.

** SAREPTA THERAPEUTICS INC, $25.16, +9.58 pct

The company said its drug to treat a rare muscular disorder in young boys stabilized respiratory muscle function in patients at 120 weeks of treatment.

Sarepta said data from the mid-stage study in patients with Duchenne muscular dystrophy showed an increase in the pressure of inhalation and exhalation, which measure diaphragm muscle weakness.

Sarepta said in October 2012 that the trial met its main goal of increasing the level of a key protein after 48 weeks of treatment. The study was extended to monitor the drug’s safety and efficacy.

** BILL BARRETT CORP, $23.25, -16.03 pct

Global Hunter Securities analysts cut their rating on the oil and gas producer’s stock to “neutral” from “accumulate,” citing the company’s weak oil production forecast for 2014.

Bill Barrett said it expected to produce 11-12.2 million barrels of oil equivalent (mmboe) this year. That forecast falls below the company’s estimated production of 14.5 mmboe for 2013.

The company also forecast a 30 percent growth in 2014 oil output. Analysts said the forecast was below their estimate of a 50 percent growth in oil production.

** AMERICAN FINANCIAL GROUP INC, $53.66, -0.02 pct

** NATIONAL INTERSTATE CORP, $29, +30.81 pct

American Financial said its insurance unit had commenced a tender offer to acquire all of the outstanding shares of property and casualty insurer National Interstate’s common stock for $28 per share in cash.

** XOOM CORP, $26.99, -4.05 pct

The digital money transfer company reported a quarterly profit on Monday, but forecast first-quarter revenue below Wall Street estimates.

The company said it expected first-quarter revenue of $33 million-$34 million. Analysts on average were expecting $34.2 million, according to Thomson Reuters I/B/E/S.

** EPIZYME INC, $29.53, -1.57 pct

The drug developer said its public offering of 4.5 million common shares was priced at $29.25 per share before underwriting discounts.

Epizyme said it was selling 3 million shares in the offering and certain existing stockholders were selling about 1.5 million shares.


The supplier of laser-based products for the microtechnology industry reported a bigger-than-expected quarterly loss due to a delay in orders and overcapacity in some of its businesses. (Compiled by Natalie Grover in Bangalore; Editing by Kirti Pandey)

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