March 21 Some U.S. stocks on the move on
Thursday:for the Morning News Call newsletter,)
WALL ST FALLS AS ORACLE EXTENDS LOSSES, OVERSHADOWS DATA
Wall Street fell as Oracle dragged technology stocks down
sharply, while investors kept an eye on events in Cyprus as it
struggled to avoid a banking collapse. The Dow Jones industrial
average was down 0.59 percent, the Standard & Poor's 500
Index was down 0.58 percent, and the Nasdaq Composite
Index was down 0.82 percent.
** ORACLE CORP, $32.71, down 9 pct (0943 ET)
The world's No. 3 software maker blamed its rapidly
expanding salesforce for a severe miss in third-quarter software
sales and warned that its ailing hardware business will lose
more ground this quarter.
Separately, Blackstone Group LP, which is weighing an
offer for Dell Inc, is making an aggressive push to
recruit Oracle President Mark Hurd to be the chief executive of
the world's No. 3 PC maker, a person familiar with the situation
said on Wednesday.
** CIMATRON LTD, $5.43, down 15 pct (1014 ET)
The company, which provides software for the tooling
industry, said a secondary public offering of 2.5 million shares
was priced at $5.25 per share, an 18 percent discount over its
Wednesday closing price of $6.39 on the Nasdaq.
** SCHOLASTIC CORP, $27.72, down 11 pct (0936 ET)
The children's books publisher cut its full-year forecast
for the second time as sales of its "Hunger Games" trilogy
remained lower than last year's and customers continued to delay
spending on its educational products.
** ACADIA PHARMACEUTICALS INC, up 8 pct, $7.17
The drugmaker presented additional data from its late-stage
study for treating Parkinson's disease in the American Academy
of Neurology, indicating highly significant improvements in all
secondary efficacy measures.
** ANACOR PHARMACEUTICALS INC, up 8 pct, $7.21
The drugmaker said its mid-stage experimental ointment
reduced skin lesions in adolescents with atopic dermatitis, a
chronic skin disorder. 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 when
compared to a standard baseline.
** SUNTECH POWER HOLDINGS CO LTD, $0.47, down 21 pct
The local government in Suntech's home town is seeking to
bail out China's biggest solar panel maker to stave off its
collapse, a person with knowledge of the matter told Reuters on
** TRUE RELIGION APPAREL INC, $25.77, down 7 pct
Three prospective bidders have dropped out of the auction to
acquire the women's jeans maker as they believe the shares have
become too expensive, the New York Post reported, citing
** ISIS PHARMACEUTICALS INC, $18.89, up 6 pct (1021
The company said an early-stage study of its experimental
drug to treat a rare genetic neuromuscular disease showed
improvements in Hammersmith scores, a measure of muscle
function, in a number of children. Children suffering from
spinal muscular atrophy often never achieve the simplest motor
milestones like walking, crawling, or sitting up.
** GEVO INC, $2.35, up 6 pct (1058 ET)
The biofuel producer won a patent war against Butamax
Advanced Biofuels LLC after Butamax acknowledged that Gevo does
not infringe its patents for a method to commercially produce
Gevo is suing Butamax for patent infringement in a trial
which will be heard in August.
** INTERMUNE INC, $9.50, up 6 pct (0955 ET)
The company said Britain's health technology appraisal body,
National Institute for Health and Clinical Excellence, backed
InterMune's lung scarring drug Esbriet.
** GUESS INC, $25.25, down 6 pct (0941 ET)
** TILLY'S INC, $12.44, down 10 pct (0941 ET)
** PACIFIC SUNWEAR OF CALIFORNIA INC, $2.24, down 8
pct (0941 ET)
The apparel retailers forecast first-quarter results
significantly below analysts' estimates as they battle flagging
consumer demand due to a sluggish economy and higher payroll
** AIRGAS INC, $97.71, down 5 pct (0942 ET)
The industrial gas supplier said weaker-than-expected sales
suggested that it may miss the lower end of its fourth-quarter
earnings forecast by 4 percent.
** CISCO SYSTEMS INC, $20.95, down 3.29 pct (1002
** JUNIPER NETWORKS INC, $18.79, down 2.69 pct
FBR downgraded its rating on Cisco's stock to "underperform"
from "market perform" and cut its price target on the stock by
$5 to $17. "We believe Cisco will become increasingly more
challenged to offset weaker-than-expected routing and switching
demand," the brokerage said. Rival Juniper's shares also fell on
** HOMEAWAY INC, $31.93, up 5 pct (1003 ET)
Morgan Stanley raised its rating on the shares of the
company, which lists vacation properties online, to "overweight"
from "equal weight", benzinga.com reported. ()
** BURGER KING WORLDWIDE INC, $19.20, down 3.7 pct
Brokerage Bank of America Merrill Lynch downgraded its
rating on the third-largest U.S. hamburger chain to
"underperform" from "neutral," according to Benzinga.com.
** PERRY ELLIS INTERNATIONAL INC, $17.94, up 3 pct
The apparel retailer's fourth-quarter profit beat estimates,
helped by sales growth and lower promotions in its Golf
lifestyle apparel, Laundry by Shelli Segal and namesake brands.
** YAHOO INC, $22.60, up 2 pct (0943 ET)
Oppenheimer raised its rating on the company's stock to
"outperform" from "perform" and raised its price target by $5 to
$27, partly on the assumption that Alibaba will complete its IPO
within the next year, benefiting Yahoo, which has a 24 percent
stake in the Chinese company.
** KB HOME, $22.15, up 2.69 pct (0958 ET)
The fifth-largest U.S. homebuilder reported a
smaller-than-expected first-quarter loss and a jump in new home
** ASTRAZENECA, $47.18, up 2.2 pct (0939 ET)
The company's new chief executive announced another 2,300
job cuts in sales and administration on Thursday as he set out
his stall for turning round the struggling drugmaker and
returning it to growth.
** WEATHERFORD INTERNATIONAL LTD, $11.67, up 2 pct
Analysts at Raymond James raised the oilfield services
company's stock to 'outperform' from 'underperform', saying its
recent capital expenditure forecast and improving capital
efficiency could lead to positive free cash flow.
** NICHOLAS FINANCIAL INC, $14.80, up 12 pct (0936
The consumer finance company said on Wednesday that it had
retained an independent financial advisor to assist in
evaluating possible strategic alternatives. The company also
said it had received an unsolicited offer from a potential
** TUMI HOLDINGS INC, $22.56, down 5 pct (0936 ET)
The luxury handbag maker reported a lower-than-expected
quarterly profit, hurt by a 15 percent increase in costs related
to online promotions and store expansions..
Citigroup trimmed its price target on the stock to $25 from
** JABIL CIRCUIT INC, $18.94, down 3 pct (0938 ET)
The contract electronics maker forecast third-quarter
results that fell short of Wall Street expectations as its
largest customer Apple gets ready for product transitions.