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U.S. stock indexes were down on Monday amid worries about Greece’s precarious financial condition and slowing growth in China, while energy stocks fell on weaker oil prices. The Dow Jones industrial average was down 0.33 percent at 18,130.69, the S&P 500 was down 0.25 percent at 2,110.84 and the Nasdaq Composite was up 0.09 percent at 5,007.955.
** VIGGLE INC, $3.82, +61.18 pct
The Web-based entertainment and marketing services provider’s quarterly revenue jumped 52 percent to $5 million. The company’s net registered users more than doubled to about 8.95 million in the third quarter from 4.14 million, a year earlier.
** APPLE INC, $126.6599, -0.75 pct
The iPhone maker’s shares fell after a report from research firm IDC on Monday that smartphone shipments in China, the world’s largest smartphone market, shrank for the first time in six years in the first quarter. Shipments fell 4.3 percent from a year earlier to 98.8 million in the quarter, IDC said, attributing the slump to “market saturation” in China.
Separately, Australia said it would crack down on alleged tax avoidance by 30 multinational companies, in a move that could force companies such as Apple to restructure its business to escape huge penalties.
** DEAN FOODS CO, $17.3, +6.27 pct
The largest U.S. milk processor reported a better-than-expected quarterly profit as the company did not pass on the benefits of falling milk prices to consumers.
** ACTAVIS PLC, $302.54, +3.32 pct
The drugmaker’s quarterly revenue jumped almost 60 percent, helped by higher sales of its branded drugs in North America, but charges related to its acquisition of Botox maker Allergan Inc pushed the company into a net loss.
** MYOS CORP, $6.101, +27.37 pct
The company, which makes products to improve human muscle health, said it would start study to examine effects of product, Fortetropin, at various dosing levels. Fortetropin is the first clinically proven natural inhibitor of myostatin - a natural regulatory protein inhibiting muscle growth and recovery.
** NEVRO CORP, $54.51, +20.17 pct
The U.S. Food and Drug Administration approved the company’s Senza spinal cord stimulation system, which is used with its proprietary HF10 therapy in managing leg and back pain.
Nevro also reported a smaller-than-expected loss and better-than-expected revenue for the first quarter.
** ATYR PHARMA INC, $21.065, +9.32 pct
The drug developer’s stock rose as much as 13 percent to $21.70, a 55 percent gain from its IPO price. The stock, which listed on Thursday, has defied a slump in biotechnology IPOs. The outcome is even more impressive given the deal fatigue that became apparent on Wednesday.
** ZULILY INC, $14.32, +7.71 pct
Chinese e-commerce giant Alibaba Group Holding Ltd has reached a 9.2 percent stake in U.S. online retailer Zulily, after sweeping up shares at rock-bottom prices last week.
** GODADDY INC, $25.74, +3.46 pct
At least 9 brokerages initiated coverage on the Web hosting company’s stock. J.P. Morgan Securities, Barclays Capital and Morgan Stanley started with an “overweight” rating, while Citi Investment Research and Deutsche Bank started with “buy”.
“In the near term, we see potential upside to our EBITDA estimates as the company’s faster growing products carry substantially better gross margins,” Barclays analysts wrote in a note.
** ETSY INC, $20.621, -9.20 pct
Wedbush Securities cut its rating on the operator of a website for buying and selling handmade goods. “Our analysis and discussions with (intellectual property) lawyers lead us to believe questionable seller practices may draw increased scrutiny, eventually limiting volume growth,” analyst Gil Luria wrote in a note.
** NOBLE ENERGY INC, $46.27, -5.80 pct
** ROSETTA RESOURCES INC, $24.66, +27.61 pct
Oil and natural gas producer Noble Energy said it would acquire Rosetta for about $2 billion in stock, highlighting a consolidation being driven by a steep fall in global oil prices.
** CLEAN DIESEL TECHNOLOGIES INC, $2.24, +12.56 pct
The emission control system maker said it would supply DuraFit, a new line of original equipment manufacturer replacement diesel particulate filters, to New York City Department of Sanitation fleet.
** ON ASSIGNMENT INC, $37.5, +14.19 pct
The staffing company said it would buy privately held Creative Circle LLC for $570 million in cash and stock. The company said the deal would broaden On Assignment’s market from technology staffing.
** FXCM INC, $1.98, -7.91 pct
A pension fund has sued the U.S. currency broker for allegedly misleading investors about its financial prospects and concealing weaknesses in its core business before its stock dropped 90 percent in January.
** NUVERRA ENVIRONMENTAL SOLUTIONS INC, $4.75, +30.49 pct
The industrial waste management company posted a smaller-than-expected loss for the first quarter, helped by a 10.7 percent fall in operating expenses. The company said the savings were attributable to lower payroll and related expenses, fuel savings and lower amortization expense.
** CAL-MAINE FOODS INC, $49.97, +16.21 pct
The egg supplier can benefit as egg prices are likely to move higher, BB&T analysts wrote in a note. “Flock culling related to avian influenza could support egg prices over interim; in Friday ECI (Egg Clearinghouse Inc) trading, we saw price jumps of $0.30-plus per dozen being quoted,” they wrote.
Post Holdings Inc, which also sells eggs, said on Friday that about 14 percent of its egg supply was lost due to avian flu and that it expected flu-related impact of about $20 million for the rest of the year.
** RADNET INC, $7.915, -9.95 pct
The diagnostic imaging center operator reported a first-quarter loss of 11 cents per share, hurt by higher costs. Analysts on average had expected a profit of 6 cents per share.
** STERLING CONSTRUCTION CO INC, $3.3365, -19.02 pct
The construction material supplier reported a bigger-than-expected quarterly loss, hurt by “downward revisions of the estimated percent-complete of certain projects” and “completion of certain large projects” in Texas. The company’s revenue fell 12.5 percent to $117.7 million in the first quarter. General and administrative expenses rose 37 percent, mainly due to employee severance costs.
** ATLANTIC POWER CORP, $3.07, -6.12 pct
RBC Capital Markets cut its rating on the Canadian power producer’s stock to “underperform” from “sector perform”, citing “limited catalysts for the shares to move higher”. “We believe it will take several years to right-size the balance sheet,” RBC analysts wrote in a note.
** NORDIC AMERICAN TANKER LTD, $11.86, +4.59 pct
The tanker company reported a better-than-expected quarterly profit, helped by higher tanker rates. Nordic American said the tanker market was “encouraging” so far in the current quarter.
** MANNKIND CORP, $3.57, -6.30 pct
J.P. Morgan Securities cut its rating on the drugmaker’s stock to “underweight” from “neutral”. MLV Partners cut its price target on the stock to $4 from $7, citing lower-than-expected first-quarter sales of its inhaled insulin, Afrezza.
** BILL BARRETT CORP, $9.26, -9.66 pct
** DENBURY RESOURCES INC, $7.41, -3.89 pct
** QEP RESOURCES INC, $20.55, -4.82 pct
** BASIC ENERGY SERVICES INC, $9.78, -2.59 pct
** SEVENTY SEVEN ENERGY INC, $5.23, -3.68 pct
** C&J ENERGY SERVICES LTD, $15.57, -6.49 pct
Shares of oil and gas producers fell after oil prices declined as signs of U.S. shale oil production recovery renewed concerns about a global supply glut.
** PLUG POWER INC, $2.61, +7.41 pct
The fuel cell maker said it expected to achieve 35-40 percent of its 2015 revenue target by the end of June.
“With full-year guidance held, Q2 is expected to comprise a sizable portion of this year’s revenue,” Cowen & Co analyst Jeffrey Osborne wrote in a note.
** SIGMA DESIGNS INC, $8.46, +7.63 pct
Craig-Hallum Capital started covering the company’s stock with a “buy” rating and a price target of $11. “We believe the downtrend has been reversed and that the company is poised to continue to grow and show consistent profitability,” Craig-Hallum analysts wrote in a note.
** IDERA PHARMACEUTICALS INC, $3, +8.30 pct
The drug developer said it would start testing its lead drug, IMO-8400, to treat two types of rare muscle disorders. The drug has been granted an orphan status by the U.S. FDA to treat patients with a type of blood cancer.
** RENTECH INC, $1.14, +6.54 pct
The fertilizer producer reported a smaller-than-expected quarterly loss due to robust demand, cost controls and lower natural gas prices. The company’s revenue jumped about 28 percent to $105.6 million, above the average analyst estimate of $82.3 million. Rentech also said its Canadian wood pellet plants began production. The company said in March that it did not expect the pellet plants to generate positive EBITDA or cash flow in 2015.
** REVOLUTION LIGHTING TECHNOLOGIES INC, $1.21, +6.14 pct
The LED lighting maker’s revenue more than tripled in the first quarter, helped by new product launches and acquisitions.
** MOBILEYE NV, $47.15, +2.93 pct
The driver-assistance system maker reported higher-than-expected first-quarter revenue, helped by increasing demand for Advanced Driver Assistance Systems (ADAS) and autonomous vehicle adoption. “During the quarter, we saw accelerating trends toward ADAS and autonomous vehicle adoption, driven by recent announcements by (original equipment manufacturers) and regulatory agencies, to improve driver safety,” the company said.
** MYLAN NV, $71.23, -0.11 pct
** TEVA PHARMACEUTICAL INDUSTRIES LTD, $61.49, +1.50 pct
Generics drugmaker Mylan, which is in the middle of a three-way takeover battle, has said it is unwilling to sell itself to Israeli rival Teva, but would consider buying that company down the road, Mylan Executive Chairman Robert Coury told investors this week.
** GOLD FIELD LTD, $3.66, -1.35 pct
The South African miner said a contractor at its South Deep project in South Africa lost his life due to a tramming accident on Saturday.
** MONSTER BEVERAGE CORP, $135.53, +5.50 pct
Citi Investment Research raised its rating on the energy drink maker’s stock to “buy” from “neutral” and price target to $155 from $141. Monster is expected to show robust growth in the global energy drinks category and gain market share, helped by Coca-Cola Co’s distribution network, analysts wrote in a note. There is scope for higher profitability in Monster’s business outside the United States, they wrote.
** JOY GLOBAL INC, $44.27, +5.33 pct
Robert W. Baird & Co raised its rating and price target on the mining equipment maker’s stock and said that “the worst might be over” for mining and commodity cycles.
** COMSTOCK RESOURCES INC, $4.31, -7.11 pct
The oil and gas producer reported a first-quarter loss, compared with a profit a year earlier. The company said its production in the quarter was hurt by delays in timing of completions in the East Texas Eagle Ford shale wells and the first Haynesville shale well. (Compiled by Anet Josline Pinto in Bengaluru; Editing by Kirti Pandey)