November 22, 2013 / 4:14 PM / 5 years ago

MARKET PULSE-Herbalife, Aetrium, Violin Memory, Pretium Resources

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter,

Nov 22 (Reuters) - U.S. stocks were little changed on Friday amid a dearth of data and ahead of a holiday-shortened week in the United States, a day after the Dow industrials broke 16,000 for the first time. The Dow Jones industrial average rose 0.06 percent, the S&P 500 0.14 percent and the Nasdaq Composite 0.3 percent.

** INTEL CORP, $24.41, down 3 pct (9:34 a.m. ET)

The world’s top chipmaker’s Chief Financial Officer Stacy Smith said at an investor meeting on Thursday that revenues next year will be flat, with lower PC sales offsetting more server sales.

** HERBALIFE LTD, $71.61, up 4.6 pct (11:03 a.m ET)

Bill Ackman, head of hedge fund firm Pershing Square, said Friday that his firm has lost $400 million to $500 million on his short bet against the weight-loss company.

** AETRIUM INC, $8.70, up 189 pct (9:41 am ET)

The maker of testing equipment for integrated circuits reported orders worth $2.1 million for its new VMAX IC test product from several customers on Thursday. The orders are expected to be shipped by the first quarter of 2014, the company said.

** PRETIUM RESOURCES INC, $4.91, up 68 pct (10:00 a.m. ET)

The Canadian miner produced 4,215 ounces of gold at its Brucejack project in British Columbia, higher than its target of producing 4,000 ounces. The company is undertaking a bulk sampling program at its Brucejack project.

** 500.COM LTD, $28.46, up 63 pct (10:45 a.m. ET)

Shares of the online sports-lottery operator rose almost 68 percent in their debut as U.S investors continued to drum up support for Chinese stocks.

** VIOLIN MEMORY INC, $3, down 49.5 pct (9:35 a.m. ET)

The flash storage provider’s third-quarter results came in below analysts’ estimates, prompting at least four brokerages to downgrade the stock.

** VINCE HOLDING CORP, $28.37, up 42 pct (10:47 a.m. ET)

Shares of the luxury apparel company, controlled by private equity firm Sun Capital Partners Inc, opened at $29.50 and rose to $29.97, above its IPO price of $20 per share.

** ARIAD PHARMACEUTICALS INC, $3.56, up 28 pct (9:37 a.m. ET)

The company said European regulators recommended the continued use of its leukemia drug, Iclusig, whose U.S. sale has been suspended due to safety concerns.

** SPLUNK INC, $71.47, up 19 pct (9:38 a.m. ET)

The Data analytics software maker reported better-than-expected quarterly results due to the addition of more corporate and government customers, and raised its full-year revenue forecast.

** FRESH MARKET INC, $42.32, down 16 pct (9:45 a.m. ET)

The specialty grocery retailer cut its 2013 earnings forecast for the second time as it battles a weak U.S. consumer spending environment.

** PACIFIC BIOSCIENCES OF CALIFORNIA INC, $4.10, up 15 pct (10:02 a.m. ET)

The company’s chairman bought 200,000 shares at $3.61 per share, according to a regulatory filing. The stock closed at $3.58 on Thursday.

** AMARIN CORP PLC, $1.74, down 12 pct (9:36 a.m. ET)

The company said the U.S. Food and Drug Administration did not accept its appeal for the review of a regulatory decision to revoke an agreement related to the trial of its drug that lowers a type of blood fat.

** NORDIC AMERICAN TANKER LTD, $7.93, down 11 pct (9:38 a.m. ET)

The tanker company late on Thursday said it was offering shares worth $65 million. Chief Executive Herbjorn Hansson is expected to buy shares worth about $2 million in the offering on the same terms as other investors. [ID:nASA08GBN

** POZEN INC, $7.57, up 11 pct (9:36 a.m. ET)

The drugmaker declared a special cash distribution of $1.75 per share on Thursday to all stockholders of record as of close of business on Dec. 11.

** BIOGEN IDEC, $279.71, up 10.8 pct (9:39 a.m. ET)

The company has won regulatory protection for its top-selling multiple sclerosis drug Tecfidera in Europe, paving the way for its launch in markets that could account for a large proportion of future sales.

** ARUBA NETWORKS INC, $19.14, up 11 pct (9:45 a.m. ET)

The network-equipment maker’s first-quarter revenue rose 11 percent as the company benefited from higher IT spending by its customers. Aruba also forecast second-quarter revenue largely above Wall Street expectations.

One brokerage upgraded the company’s stock while three others raised their price targets.

** USEC INC, $9.95, up 11 pct (9:44 a.m. ET)

The enriched uranium fuel supplier said it would get $15.7 million from the U.S. Department of Energy for the final phase of a research, development and demonstration program for the American Centrifuge project.

** LANDEC CORP $11.31, down 9 pct (9:48 a.m. ET)

The company, which makes polymer products for food and agricultural markets, cut its earnings forecast for the current quarter due to higher-than-expected costs for raw materials in its vegetable business.

** ROSS STORES INC, $73.64, down 8.29 pct (9:46 a.m. ET)

The low-price retailer forecast earnings well below analysts’ expectations for its full year ending Feb. 1, saying that the upcoming holiday season would be “the most intensely competitive and promotional selling period in recent years”.

The company expects to earn between $3.83 and $3.87 per share for the full year, below analysts’ average estimates of $3.94 per share, according to Thomson Reuters I/B/E/S.

Brokerage Cowen & Co cut its target price on the company’s stock to $80 from $85.

** UNIVERSAL DISPLAY CORP, $35.15, down 8 pct (10:41 a.m. ET)

The LED supplier said the European Patent Office (EPO) panel revoked a patent on green phosphorescent organic light-emitting device (PHOLED).

Sumitomo Chemical Co, Merck Patent GmbH and BASF SE had filed for the patent to be revoked.

Universal Display’s UniversalPHOLED technology is used in Samsung Electronics Co Ltd’s smartphones.

** DESTINATION XL GROUP INC, $6.90, up 7 pct (10:10 a.m. ET)

The plus-size apparel retailer reported a smaller-than-expected adjusted quarterly loss due to an 11.3 percent jump in comparable-store sales as more customers visited its stores following a national marketing campaign started in the quarter.

** ON TRACK INNOVATIONS LTD , $3.59, up 6 pct (10:03 am ET)

The maker of wireless payment systems and smartcards based on near field communication said it received certification from ISIS - a mobile commerce joint venture between AT&T Mobility, T-Mobile USA, and Verizon Wireless - for the company’s NFC-enabled sales terminals and software on Thursday.

** FOOT LOCKER INC, $38.85, up 6 pct (9:40 a.m. ET)

The shoe retailer reported quarterly results that beat analysts’ estimates due to a better-than-expected 4.1 percent rise in same-store sales. Analysts on average had expected the company to report a 3.5 percent increase in same-store sales for the third quarter, according to Thomson Reuters I/B/E/S.

* AGREE REALTY CORP, $28.82, down 6 pct (10:47 a.m. ET)

The real estate investment trust priced a public offering of 1.6 million shares of common stock. It intends to raise $49.2 million in net proceeds to reduce outstanding debt.

** FORTRESS INVESTMENT GROUP, $7.99, up 5.7 pct (10:30 a.m. ET)

Shares of the private equity firm rose after brokerage Credit Suisse raised its price target on the company’s stock to $11 from $9.50.

** UNILIFE CORP, $3.94, up 5 pct (9:58 a.m. ET)

The syringe maker’s Chief Executive Alan Shortall said he expects sequential quarterly growth in 2014 and “significant” annual growth for fiscal 2014 and beyond at an annual shareholder meeting.


** GILEAD SCIENCES, $74.21, up 3.6 pct (9:41 a.m. ET)

European regulators said on Friday they had recommended approval of a new drug for HIV from GlaxoSmithKline and a novel hepatitis C treatment from Gilead Sciences. The European Medicine Agency (EMA) also gave a green light to an Otsuka tuberculosis drug, following a review of an earlier rejection.

** CHARTER COMMUNICATIONS INC, $131.95, up 3.87 pct (9:41 a.m. ET)

** TIME WARNER CABLE INC, $126.23, up 4.5 pct (9:42 a.m. ET)

Charter Communications is nearing an agreement with banks to raise funds for a bid for Time Warner Cable, the Wall Street Journal reported, citing people familiar with the situation.

** TAKE-TWO INTERACTIVE SYSTEMS, $16.35, down 4 pct (9:33 am ET)

Cowen and Co cut its rating on the game publisher’s stock to “market perform” from “outperform” and its price target to $17 from $22.

** CLIFFS NATURAL RESOURCES INC, $25.53, down 3 pct (9:43 a.m. ET)

Spot iron ore prices are on track for a modest decline for the week, after three weeks of gains, on limited buying interest from Chinese mills that are wary steel demand is unlikely to perk up anytime soon. Cliffs Natural is one of North America’s biggest iron ore producers.

** PETSMART INC, $72.91, down 2 pct (09:58 a.m E.T)

The pet products and service provider forecast fourth-quarter earnings that fell short of analysts’ expectations amid a “challenged consumer environment”.

The company expects earnings of $1.19 to $1.23 per share, one cent short of analysts’ average estimates, according to Thomson Reuters I/B/E/S.

** TESLA MOTORS INC, $119.62, down 2.1 pct (9:44 a.m. ET)

George Blankenship, the lead architect of Tesla’s sales strategy and distribution network for more than three years, left the electric car maker last month, according to his LinkedIn page. The exit comes at a sensitive time for Chief Executive Elon Musk, who is facing a federal safety investigation into the Model S electric sedan after three cars caught fire in less than two months.

** HORIZON PHARMA INC, $6.69, up 2 pct (9:40 a.m. ET)

The drugmaker said Par Pharmaceutical Inc withdrew its application to market a generic version of Horizon’s rheumatoid arthritis drug, according to a regulatory filing.

** LDK SOLAR CO LTD, $1.70, up 6 pct (9:46 a.m. ET)

The China-based solar panel maker, which failed to meet a debt payment deadline on Aug. 28, said its unit Jiangxi LDK Solar Hi-Tech Co Ltd signed an agreement with a syndicate of 11 banks in China for a credit facility of 1.56 billion yuan ($256 million). The loan will be used to fund the company’s operations within Jiangxi province and not to repay debt, LDK Solar said late on Thursday.

** AUTODESK INC, $45.60, up 5 pct (9:50 a.m. ET)

The maker of AutoCAD design software reported third-quarter results ahead of Wall Street expectations and forecast current-quarter adjusted profit largely above estimates.

** MARVELL TECHNOLOGY GROUP LTD, $14.34, up 4 pct (9:49 a.m. ET)

The chipmaker forecast quarterly revenue above analysts’ estimates, helped by higher sales to flash drive and mobile and wireless device makers.

** GAP INC, $40.80, down 2 pct (9:48 a.m. ET)

The company reported a better-than-expected 9 percent rise in profit, helped by modest sales gains, and stuck to its profit forecast for the year.

Brokerage Sterne Agee raised its target price on the retailer’s stock to $38 from $36.

** REGENERON PHARMACEUTICALS, $282.50, up 2 pct (9:47 a.m. ET)

** SANOFI SA, $52.59

An experimental drug for rheumatoid arthritis developed by French drugmaker Sanofi and Regeneron, when combined with methotrexate, improved symptoms and physical function and slowed progression of the disease in a late-stage clinical trial.

Separately, Bayer HealthCare has received approval from Japan’s Ministry of Health to treat macular edema secondary to central retinal vein occlusion (CRVO) with its Eylea eye medication, the company said on Friday. Bayer HealthCare and Regeneron are collaborating on the global development of Eylea.

** VERIFONE SYSTEMS INC, $24.85, up 2.26 pct (9:42 a.m. ET)

Jefferies upgraded its rating on the electronic point-of-sale devicemaker’s stock to “buy” from “hold” and raised its target price to $29 from $21 as the brokerage expects the company to recover market share in the first half of 2014.

Compiled by Natalie Grover; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below