MARKET PULSE-3D Systems, Medivation, Plug Power, Arena Pharma

Fri Feb 28, 2014 11:10am EST

U.S. stocks rose on Friday as some positive economic data boosted the S&P 500 to record levels for a second straight day and put major indexes on track for strong gains in both the week and the month. The Dow Jones industrial average was up 0.49 percent at 16,351.94, the S&P 500 was up 0.48 percent at 1,863.17 and the Nasdaq Composite was up 0.27 percent at 4,330.511.

** ENDOLOGIX INC, $13.58, -24.01 pct

The medical device maker forecast full-year revenue below the average analyst estimate due to slow growth in device sales in the United States.

** NII HOLDINGS INC, $1.24, -51.84 pct

The telecom service provider reported a 22 percent drop in quarterly operating revenue due to mounting subscriber losses.

** CENTRAL EUROPEAN MEDIA ENTERPRISES, $4.3, +58.67 pct

The loss-making television broadcaster has agreed a deal with its main shareholder Time Warner to raise new debt and issue share warrants to help cover the company's financing needs.

** OMNIVISION TECHNOLOGIES INC, $17.31, +6.85 pct

The digital imaging chipmaker posted better-than-expected third-quarter results, helped by stronger demand for its PureCel sensors. The company also forecast fourth-quarter profit and revenue largely above the average analyst estimate.

** KBR INC, $26.96, -15.59 pct

The engineering company reported a lower-than-expected profit because it could not close a deal to build two liquefied natural gas projects in the fourth quarter, as it had previously expected to. The company said it expects to earn between $1.75 and $2.10 per share in 2014, much lower than the average analyst estimate of $2.69 per share, according to Thomson Reuters I/B/E/S.

** MERCADOLIBRE INC, $108.98, +15.65 pct

The Argentina-based e-commerce company posted better-than-expected quarterly results helped by a 30 percent jump in sales.

** JOS. A. BANK CLOTHIERS INC, $61.61, +2.17 pct

** MEN'S WEARHOUSE INC, Thursday close $52.82, +4.76 pct

Jos. A. Bank rejected Men's Wearhouse Inc's revised takeover offer calling it inadequate, but said it was willing to talk with its larger rival about a higher bid.

** COMPUGEN LTD, $11.3201, -20.28 pct

The Israeli drugmaker said on Thursday that its public offering of 6 million shares was priced at $10.50 per share, a discount of 26 percent to their last close. The company expects gross proceeds of about $63 million.

** DECKERS OUTDOOR CORP, $72.06, -14.89 pct

The shoe maker, on Thursday, forecast a surprise loss for the first quarter due to higher expenses.

At least five brokerages cut their price targets on the company's stock.

** YOUKU TUDOU INC, $34.84, +12.90 pct

The Chinese internet television company, on Thursday, reported a 42 percent jump in fourth-quarter revenue, which beat the average analyst estimate due to higher video mobile traffic.

** YUME INC, $6.17, -19.45 pct

The video advertising service provider's fourth-quarter revenue missed Street estimates and it forecast 2014 revenue below analysts' expectations.

Brokerage Citigroup downgraded Yume's stock to "neutral" from "buy," according to theflyonthewall.com.

** 3D SYSTEMS CORP, $78.24, +4.80 pct

The largest 3D printer company forecast 2014 full-year revenues largely above Wall Street estimates, allaying fears of a bubble in the 3D printing industry. The company also reported a fourth-quarter adjusted profit that was in line with the average analyst estimate and said its 3D printers and other product revenue increased 76 percent to $73.9 million, from a year earlier.

** PLUG POWER INC, $4.749, +8.67 pct

The alternative energy technology provider's shares continued to rally after it said on Wednesday that it would supply 1,738 of its hydrogen fuel cells to Wal-Mart Stores Inc , the world's largest retailer.

** SOUTHWESTERN ENERGY, $41.25, -4.38 pct

The oil and gas producer's fourth-quarter profit beat the average analyst estimate by one cent, but the company reduced its estimate for ultimate recovery from its proved undeveloped reserves in the Marcellus shale.

Analysts at Simmons and Co identified the lower estimate and disappointing well results in the Brown Dense formation, an unconventional oil reservoir found in southern Arkansas and northern Louisiana, as negatives.

** MEDIVATION INC, $74.56, -11.78 pct

The cancer drug maker, on Thursday, forecast weak 2014 sales for its prostate cancer drug, Xtandi.

Analysts were disappointed by the "modest" sales estimates, especially given the fact that the company is widely expected to get approval for an expanded use for the drug later this year.

** CLEAN ENERGY FUELS CORP, $8.55, -11.86 pct

The natural gas fuel supplier's fourth-quarter revenue fell 14 percent, as it did not repeat last year's gains from selling two compressed natural gas stations to a transit customer.

** ARENA PHARMACEUTICALS INC, Thursday close $6.77, -2.81 pct premarket

The drugmaker posted a lower-than-expected quarterly revenue as sales of its weight management drug, Belviq, did not grow as expected.

The drug was approved by the U.S. Food and Drug Administration in June 2012.

** BONA FILM GROUP LTD, $6.5799, -9.62 pct

The film distributor reported a 20 percent drop in fourth-quarter revenue on Thursday, as it did not release any television series in the period.

** SALIX PHARMACEUTICALS LTD, $114.32, +4.08 pct

The drugmaker posted a better-than-expected fourth-quarter profit helped by strong sales of its liver drug Xifaxan.

At least five brokerages raised their price targets on the company's stock.

** VAALCO ENERGY INC, $6.74, -5.07 pct

The oil and gas company said late on Thursday that it would plug and abandon an exploration well in Dimba, offshore Gabon, after it did not recover reserves of any commercial value there.

** CHUY'S HOLDINGS INC, $40.01, -4.96 pct

The restaurant operator reported on Thursday fourth-quarter revenue that missed the average analyst estimate, due to the impact of an ice storm in early December.

** GALENA BIOPHARMA, $4.0206, +4.43 pct

The company said it has received a "notice of acceptance" from the Australian Patent Office for a patent for its experimental cancer vaccine NeuVax. The patent protection for NeuVax, currently being tested in a late-stage study for breast cancer, runs until 2028.

** RENEWABLE ENERGY GROUP INC, $12.1799, +2.44 pct

The biodiesel producer posted better-than-expected fourth-quarter results, boosted by a 90 percent increase in biodiesel sales. Quarterly revenue rose 68 percent to $390.6 million, the company said late on Thursday.

** HALOZYME THERAPEUTICS INC, $14.97, -6.55 pct

The drugmaker reported a bigger-than-expected fourth-quarter loss due to high expenses related to clinical trial costs and marketing spends.

** MAGIC SOFTWARE ENTERPRISES LTD, $8.54, -9.99 pct

The Israeli business integration software maker said on Thursday that it intends to offer and sell ordinary shares of the company in a public offering.

** MECHEL OAO, $1.77, -5.85 pct

Shares of the indebted Russian coal miner and steelmaker collapsed by more than a third in Moscow on Friday. Mechel, which invested heavily in expansion before the 2008 financial crisis forced it to borrow heavily to support itself, blamed the slump on speculation, saying the company's financial position was stable. Two traders and two analysts said the move was probably caused by a so-called margin call, in which a bank sells shares held as security against loans. The low liquidity of Mechel's shares in Moscow exaggerated the move, they added.

** NOVAVAX INC, $6.488, -2.44 pct

The biopharmaceutical company said it extended the base period of its contract with the U.S. Department of Health and Human Services, enabling it to receive the remainder of its $97 million in funding until September, from the original period ending February.

The contract was awarded in February 2011 by the Biomedical Advanced Research and Development Authority to develop seasonal and pandemic influenza vaccines.

** UNITED CONTINENTAL HOLDINGS INC, $45.8, -1.53 pct

United Airlines, which is operated by United Continental, cut its first-quarter forecast for system available seat miles, which represent the capacity of an airline, due to severe winter weather across the United States forcing the company to cancel more than 22,500 flights in the first two months of 2014.

** MATTEL INC, $37.285, +0.36 pct

The world's No. 1 toymaker, offered to buy Canada's Mega Brands Inc for about $460 million to better compete with Denmark's Lego, the leader in the fast-growing market for building blocks.

** FREEPORT-MCMORAN COPPER & GOLD, $32.86, -1.82 pct

The U.S. miner said its Indonesian unit may need to declare force majeure on copper concentrate sales if a dispute with the government over export taxes drags on for a prolonged period. Freeport and fellow U.S. miner Newmont Mining Corp have refused to pay an escalating export tax introduced last month as part of package of new mining rules aimed at forcing miners to build smelters and process raw materials in Indonesia.

** JAMES HARDIE INDUSTRIES PLC, $63.7, +3.29 pct

The world's biggest fiber cement products maker said on Friday that it would pay a special dividend to investors as it booked a 64 percent rise in third-quarter profit thanks to the stronger U.S. housing market.

** GENERAL MOTORS CO, $36.09, -1.85 pct

** FORD MOTOR CO, $15.32, -0.45 pct

The U.S. automakers, this week, ramped up deep discounts on many of their U.S. models, extending those offers through March in an effort to lure customers back into winter-ravaged showrooms. Some of the heaviest discounts are being offered by Ford and Chevrolet dealers on full-size pickups.

** ATLANTIC POWER CORP, $2.62, +4.38 pct

The power company expects adjusted core earnings of its projects to grow 8 percent this year, as the company ramps up investments in power projects. "We...have now committed to $27 million of organic growth investments through 2014...," Chief Executive Barry Welch said.

** INTERMOLECULAR INC, $2.9, -24.68 pct

The research and development partner for semiconductor and clean-energy companies said Sandisk Corp and Toshiba Corp would not renew an agreement to develop certain memory technologies. The agreement expires on March 15.

** GW PHARMACEUTICALS PLC, $66.555, +3.07 pct

The company said the U.S. Food and Drug Administration had granted orphan drug status to its experimental drug for treating a rare and severe form of childhood epilepsy.

The FDA grants the status to drugs or biologics that treat a condition affecting less than 200,000 Americans and gives the drugmaker a marketing exclusivity of seven years in the United States, upon approval.

** TRANSITION THERAPEUTICS INC, $7.4233, +10.96 pct

The Canadian biopharmaceutical company said it has acquired an Irish subsidiary of Perigo Co Plc, to develop and market Perigo's neuropsychiatric experimental drug. The drug, code named ELND005, is being tested for studies related to Alzheimer's, bipolar disorder and Down Syndrome.

** SOTHEBY'S, $46.77, -7.15 pct

Billionaire hedge fund manager Daniel Loeb is mounting a proxy fight at the auction house, with the goal of winning three board seats after the company's promise to return $450 million to shareholders failed to appease activist investors.

** PEARSON PLC, $17.01, -6.90 pct

The British publishing and educational company warned its earnings would fall sharply again in 2014 as the publisher entered the second year of a restructuring sparked by the deterioration in its main U.S education market.