MARKET PULSE-Tiffany, Tibco Software, Nike
March 22 |
March 22 (Reuters) - Some U.S. stocks on the move on Friday:for the Morning News Call newsletter,)
FUTURES ADVANCE AS CONCERNS OVER CYPRUS EASE
Wall Street advanced at the open on Friday as a banking deal between Greece and Cyprus eased some concerns about the island nation as it tries to avoid a financial meltdown and an exit from the euro that could roil the euro zone. The Dow Jones industrial average gained 43.62 points, or 0.30 percent, the Standard & Poor's 500 Index added 5.38 points, or 0.35 percent, and the Nasdaq Composite Index rose 12.97 points, or 0.40 percent.
** TIFFANY & CO, $70.52, up 3.8 pct (0944 ET)
The company said on Friday that worldwide sales would rise 6 to 8 percent this fiscal year, with growth in all regions, and the upscale jeweler reported a slightly higher profit for the holiday quarter.
** ANACOR PHARMACEUTICALS INC, $6.57, up 34 pct (0944 ET)
The drugmaker said on Thursday its mid-stage experimental ointment reduced skin lesions in adolescents with atopic dermatitis, a chronic skin disorder. Brokerage Wedbush raised the price target on the drugmaker to $20 from $10 and said the ointment could rake in $1 billion in annual worldwide sales by 2021. The drug, codenamed AN2728, was tested in 86 patients between the age of 12 years to 17 years and partially or completely reduced 66 percent of the lesions.
** TIBCO SOFTWARE INC, $19.66, down 15 pct (0943 ET)
The business software maker forecast second-quarter results below analysts' estimates, citing execution challenges in North America and the UK.
** TECH DATA CORP, $46.69, down 6 pct (0942 ET)
The technology distributor said it would restate its results for the last three years, blaming vendor accounting practice at its U.K. subsidiary.
** NIKE INC, $59.05, up 10 pct (0942 ET)
The company's profit beat Wall Street's expectations as margins increased and world-wide future demand for its apparel and shoes rose.
** MONSTER BEVERAGE CORP, $49.56, down 1.5 pct (0941 ET)
The company's shares fell in extended trade, after new research indicated that energy drinks may increase blood pressure and disturb the heart's rhythm. The research, which analyzed seven previously published studies and was presented at an American Heart Association meeting, found an increase of 3.5 points in systolic blood pressure for those consuming energy drinks.
** MICRON TECHNOLOGY, $9.97, up 10 pct (0941 ET)
The chipmaker posted a quarterly net loss on Thursday but said the outlook for memory chip prices is improving. Following an industry slump in memory chip prices last year, Micron President Mark Adams said on Thursday that prices for DRAM and NAND memory chips are rising.
** ARBOR REALTY TRUST INC, $7.80, down 5 pct (0940 ET)
The multi-family and commercial real estate investment trust said it has commenced a public offering of 5.6 million shares.
** ZYNGA INC, $3.42, up 2 pct (0940 ET)
The online game publisher relaunched its website on Thursday, allowing users to play its games without first signing on to Facebook, a significant step toward establishing its independence from Facebook Inc.
** WAUSAU PAPER CORP, $10.55, up 2 pct (0938 ET)
The company said it intends to sell its specialty paper business to funds controlled by private equity firm KPS Capital Partners LP for about $130 million in cash, following pressure from activist investor Starboard Value LP.
** PEPSICO INC, $77.30, up 1.6 pct (0938 ET)
** MONDELEZ INTERNATIONAL INC, $29.33, up 3 pct (0938 ET)
U.S. activist shareholder Nelson Peltz has been building up stakes in PepsiCo and Oreo maker Mondelez in recent weeks, Britain's Daily Telegraph reported on Friday, citing sources familiar with the matter.
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