March 7, 2014 / 4:49 PM / 4 years ago

MARKET, Skullcandy, Big Lots, Alaska Communications

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, The S&P 500 hit a fresh intraday record high on Friday after more jobs than expected were created in February and January's figure was revised higher, with traders keeping an eye on lingering tensions in Ukraine. The Dow Jones industrial average was up 0.06 percent at 16,431.21, the S&P 500 was down 0.17 percent at 1,873.79 and the Nasdaq Composite was down 0.57 percent at 4,327.197.

** COUPONS.COM INC, $30.7, +91.88 pct

Shares of the digital coupon company jumped in their trading debut on Friday, valuing the company at over $2 billion.

The 16-year-old company raised $168 million from its initial public offering after receiving strong investor interest for its extensive digital promotion platform.

** SKULLCANDY INC, $9.81, +32.03 pct

The headphones maker reported better-than-estimated fourth-quarter results on Thursday and said it expected net sales to grow in mid- to high-single digits in 2014.

Northland Securities raised its rating on the stock to “outperform” from “market perform”, according to

** BIG LOTS INC, $34.51, +17.98 pct

The close-out retailer reported a better-than-expected adjusted profit for the holiday quarter, sending the company’s shares up as much as 22 percent in early trading.

** ANALOGIC CORP, $79.979, -17.17 pct

The maker of imaging equipment used in medical and security scanning systems reported second-quarter earnings that missed analysts’ expectations.

Brean Capital analyst Jason Wittes cut his target price on the stock to $90 from $100, saying he expects weak sales for the company’s medical and ultrasound equipment in the United States and Europe.

** FURMANITE CORP, $9.85, -14.94 pct

The company, which provides maintenance services to oil refineries, petrochemical plants and offshore oil rigs, reported lower-than-expected fourth-quarter results, hurt by a severe winter, and it forecast 2014 earnings below analysts’ expectations.

** NOVATEL WIRELESS INC, $2.18, -23.51 pct

The company, which makes USB modems and wireless modem cards for PCs, on Thursday reported lower-than-expected revenue for the fourth quarter, hurt by fewer orders and contracts.

The company also forecast bigger-than-estimated loss for the current quarter.


The telecommunications company said that wireless subscribers fell by 3,266 to 108,848 in the fourth quarter, and it forecast free cash flow of about $20 million this year, compared with $22 million last year.

** PROGRESS SOFTWARE CORP, $22.8, -10.17 pct

The enterprise software maker on Thursday estimated first-quarter results below analysts’ average estimate, hurt by lower license sales as some deals did not close in the quarter.

** KORN/FERRY INTERNATIONAL, $29.13, +12.78 pct

The executive recruitment services company late on Thursday reported third-quarter results that beat analysts’ average estimates, and it forecast a fourth-quarter profit of 35-41 cents. Analysts on average were expecting fourth-quarter earnings of 37 cents, according to Thomson Reuters I/B/E/S.

** FUELCELL ENERGY INC, $3.239, +8.33 pct

The fuel cell maker said it would install a fuel cell power plant at its factory in Torrington, Connecticut, to generate hydrogen, electricity and heat. The plant is expected to be operational by the end of this year. The company estimates a potential market size of $1.6 billion for such power plants in the United States.

** GT ADVANCED TECHNOLOGIES INC, $17.71, +4.30 pct

Analysts at Credit Suisse upgraded the solar and LED equipment maker’s stock to “outperform” from “neutral” and raised their price target to $24 from $18, citing gains from improving polysilicon prices and the company’s agreement to make sapphire materials for Apple Inc’s electronics devices.

** SAFEWAY INC, $38.4, -2.71 pct

The second-largest U.S. mainstream grocery store operator said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion.

** FOOT LOCKER INC, $45.52, +6.53 pct

The athletic footwear retailer reported fourth-quarter results that beat analysts’ estimates, driven by a 5.3 percent rise in comparable-store sales.

** FIREEYE INC, $81.35, -9.16 pct

The network security company has priced the follow-on public offering of 14 million shares of its common stock at $82 per share, expecting to raise about $460 million.

** ALPHA NATURAL RESOURCES INC, $5.01, -8.58 pct

** WALTER ENERGY INC, $10.12, -7.50 pct

** PEABODY ENERGY CORP, $16.79, -4.76 pct

Analysts at Goldman Sachs cut their rating on coal miner Alpha Natural’s stock to “sell” from “neutral”, citing “lackluster recovery” in prices of steelmaking coal, partly pressured by higher supply from Australia and a slowdown in demand from China, the largest producer and consumer of steel.

Shares of rivals Walter Energy and Peabody Energy also fell.


Miner Rio Tinto is planning to buy the remaining stake in Turquoise Hill for $8 per share, the Daily Mail reported on Thursday, citing sources familiar with the matter. (

Rio Tinto owns 50.8 percent of Vancouver-based Turquoise Hill.

** VIOLIN MEMORY INC, $4.26, -3.62 pct

The flash storage provider reported lower-than-expected fourth-quarter revenue on Thursday due to a 2 percent drop in product sales.

BofA Merrill Lynch cut its rating on the stock to “underperform” from “buy” on Friday, according to

** PIEDMONT NATURAL GAS CO INC, $34.11, +1.61 pct

The natural gas distributor reported a better-than-expected first-quarter profit on Thursday due to increased demand during extreme winter conditions. The company raised its full-year profit outlook to $1.80-$1.90 per share from $1.73-$1.83.

The company also lifted its quarterly dividend by 3.2 percent to 32 cents per share, payable on April 15 to shareholders on record as of March 25.

** EMERGENT BIOSOLUTIONS INC, $27.23, +6.49 pct

The specialty pharmaceutical company posted better-than-expected fourth-quarter results, helped by stronger sales of biodefense products.

Analysts at J.P. Morgan Securities raised their target price on the stock to $37 from $29.

** CONATUS PHARMACEUTICALS INC, $11.755, +3.84 pct

Roth Capital analysts initiated coverage of the company’s stock with a “buy” rating, based on the potential of Conatus’ experimental drug, Emricasan, to treat several liver indications.

** FREEPORT MCMORAN, $32.25, -4.67 pct

The mining company said on Friday power rationing in the Democratic Republic of Congo would not affect its operations in the short term but that future expansion plans would depend in part on a reliable energy supply.

** H&R BLOCK INC, $30.59, -1.20 pct

The U.S. tax preparer reported a 57 percent drop in third-quarter revenue, hurt by a 10-day delay to the start of the U.S. tax filing season. The delay caused the company to shift $277 million in revenue related to tax returns prepared but not filed, to the fourth quarter.

The company, which also reported a bigger-than-expected loss for the third quarter on Thursday, said it expects a majority of its revenue and all of its fiscal 2014 earnings to occur in the current quarter.

** GOGO INC, $24.13, -0.66 pct

SAC Capital Advisors, the investment manager founded by Steven A. Cohen, said on Thursday it has taken a 5.4 percent stake in Gogo, a provider of in-flight Wi-Fi service.

** CLIFFS NATURAL RESOURCES INC, $18.71, -2.04 pct

The iron ore producer said Casablanca Capital LP rejected an offer to settle a proxy fight, and the activist investor was seeking full control of the company’s board.


The communications equipment maker on Thursday reported better-than-expected second-quarter revenue, helped by higher sales in its telecommunication transmission and RF microwave amplifiers businesses.

** GAP INC, $41.89, -0.95 pct

The apparel retailer, known for its Gap, Banana Republic and Old Navy chains, reported a 7 percent decline in comparable sales in February, and said 450 of its stores were closed at some point or other in the month when ice, cold and snow kept many shoppers at home. Analysts had expected a 0.9 percent increase, according to Thomson Reuters data.

** ENDEAVOUR SILVER CORP, $5.24, -3.14 pct

** SILVER WHEATON, $25.11, -3.53 pct

** FIRST MAJESTIC SILVER CORP, $11.16, -3.46 pct

** COEUR MINING INC, $11.09, -2.80 pct

** NEWMONT MINING CORP, $24.22, -2.85 pct


** GOLDCORP INC, $27.12, -2.48 pct

** AGNICO EAGLE MINES LTD, $32.55, -1.84 pct

** BARRICK GOLD CORP, $19.91, -2.16 pct

** ROYAL GOLD INC, $68.794, -1.81 pct

** ELDORADO GOLD, $6.91, -1.43 pct

** YAMANA GOLD INC, $10.15, -1.74 pct

** HECLA MINING CO, $3.475, -2.11 pct

Gold tumbled more than 1 percent on Friday after stronger-than-expected U.S. jobs data helped soothe fears of an abrupt slowdown in the world’s biggest economy.

Spot gold fell as much as 1.5 percent to a session low of $1,329.35 an ounce, and was trading down 1.2 percent at$1,335.20 by 1527 GMT. Silver fell 2.7 percent to $20.86 an ounce. (Compiled By Neha Dimri in Bangalore; Edited by Maju Samuel)

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