March 22 Some U.S. stocks on the move on Friday:for the Morning News Call newsletter,)
WALL ST GAINS AS CYPRUS FEARS EASE, NIKE RALLIES
U.S. stocks bounced back on Friday on hopes a deal to bail out Cyprus was near completion. The Dow Jones industrial average was up 0.58 percent, the S&P 500 up 0.65 percent, and the Nasdaq Composite up 0.65 percent.
** TIFFANY & CO, $70.52, up 3.8 pct (0944 ET)
The company said the pace of its worldwide sales growth would pick up this year, helped by faster growth in Asia and a more compelling selection of lower-price silver jewelry.
** 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.
** HALOZYME THERAPEUTICS INC, $6.08, up 15 pct (0949 ET)
The company said its immunodeficiency drug HyQvia, which it licensed to Baxter International Inc, was given a positive opinion by the scientific committee of the European Medicine Agency.
** NIKE INC, $60, up 11.94 pct (1151 ET)
** UNDER ARMOUR INC, $50.16, up 4 pct (1148 ET)
** FOOT LOCKER INC, 33.65, up 4 pct (1258 ET)
The company's profit beat Wall Street's expectations as margins increased and world-wide future demand for its apparel and shoes rose.
Morningstar Inc analyst Paul Swinand said shares of Under Armour were also up on the same news. Foot Locker's shares were up on the Nike results, as it is one of the biggest retailers of Nike shoes, Swinand added.
** 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.
** NEW YORK & CO INC, $4.10, down 10 pct (1224 ET)
The women's apparel and accessories retailer said it expects first-quarter sales to decline in the low single-digit range and comparable store sales to fall in the low-to-mid-single-digit range due to unfavourable weather conditions and lower traffic amid challenging macroeconomic conditions.
** 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.
** GENTIUM SPA, $7.63, down 6 pct (0948 ET)
The Italian biotechnology company received a negative opinion from the European health regulator on its most advanced product, a drug to treat a rare liver condition. Gentium said it plans to appeal the European Medicine Agency's decision and request a re-examination of the opinion of the Committee for Medicinal Products for Human Use.
** WEST CORP, $19, down 5 pct (1147 ET)
Shares of private-equity backed West Corp fell in their market debut even after the phone service provider priced its initial public offering below the expected price range.
** OLD DOMINION FREIGHT LINE INC, $38.25, up 5 pct (0957 ET)
The trucking company raised its estimate for growth in first-quarter tonnage to between 4.5 percent and 5 percent.
** 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.
** TEXAS CAPITAL BANCSHARES $42.91, up 5 pct (1249 ET)
The lender issued $150 million in preferred stock on Thursday, helping boost its capital ratios.
** SUPERVALU INC, $4.89, up 4.7 percent (1136 ET)
The U.S. grocery store operator's CEO, Sam Duncan, announced new appointments to his leadership team which included the head of its largest division, a new chief information officer and a human resources officer.
** AVID TECHNOLOGY INC, $6.51, down 4.5 pct (1257 ET)
Law firm Lifshitz said it was investigating potential claims against the board of directors of Avid concerning whether the board has breached its fiduciary duties to shareholders.
In February, the audio and video editing software maker delayed reporting its fourth-quarter results, saying it needed more time to evaluate "accounting treatment related to bug fixes, upgrades and enhancements to certain products."
** EVERCORE PARTNERS INC, $42.05, down 4 pct (1009 ET)
JMP securities downgraded the investment bank's stock to "market perform" from "market outperform", citing slipping deals, especially in the middle-market sector and increasing taxes. The brokerage also cited a possible mid-year European Union flare up as a risk factor while the bank's completed deals were below estimates.
** INFORMATICA CORP, $34.50, down 4 pct (1019 ET)
Nomura Equity Research cut its rating on the data-integration software maker's stock to "neutral" from "buy", saying the infrastructure software environment continues to be challenging, and the company's first-quarter results may not come in above market expectations.
** FIESTA RESTAURANT GROUP INC, $25.42, up 3.42 pct (1003 ET)
The operator of Pollo Tropical and Taco Cabana chains upsized its secondary public offering and said it was offering 2.9 million shares at $24.25 per share.
** HUMANA INC, $66.28, down 3 pct (1113 ET)
Susquehanna analyst Chris Rigg downgraded the health insurer's stock to "neutral" from "positive", saying the shares will look overvalued if final government payment rates for 2014 Medicare Advantage plans do not improve materially.
"We estimate approximately 55 to 60 percent of Humana's 2013 earnings will be derived from retail Medicare Advantage, which clearly means 2014 reimbursement rates will have a large impact on company shares," Rigg wrote in a note to clients.
Medicare Advantage allows beneficiaries to receive Medicare benefits through private insurance plans. Humana has around 2 million members enrolled in Medicare Advantage programs.
** GRAPHIC PACKAGING HOLDING CO, $7.14, down 2 pct (0955 ET)
The food and beverage packaging maker said a secondary offering by shareholders was expanded by 3 million shares to 28 million. The offering was also priced at a discount to the stock's last closing price.
** 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.
** FIVE OAKS INVESTMENT CORP, $14.66, down 2 pct (10:20 ET)
Shares of Five Oaks Investment fell on their trading debut after the investor in mortgage-backed securities priced its initial offering of 4 million shares at $15 per share. The Maryland-based company, which filed for an IPO in December 2012, plans to use the proceeds from the IPO to buy residential mortgage-backed securities. Barclays, Credit Suisse and UBS were the lead underwriters to the offering.
** 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)
Shares of the food makers rose after a U.K. newspaper reported that activist shareholder Nelson Peltz has been building stakes in them.
Citing sources familiar with the matter, Britain's Daily Telegraph reported that Peltz had spent $2 billion on shares of the companies through his investment vehicle Trian Fund Management. The paper speculated that Peltz could then push for a merger of the two companies.
** 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.
** BLACKBERRY, $16.28, up 1 pct (1152 ET)
Nearly two months after its formal unveiling, BlackBerry's new Z10 smartphone goes on sale on Friday in the hyper-competitive U.S. market, a crucial proving ground for the company's ambition to re-establish itself as an industry leader.
** DARDEN RESTAURANTS INC, $49.61, up 1.33 pct (1153 ET)
The owner of the Olive Garden and Red Lobster chains said it would offer a better selection of lower-priced fare after blaming higher payroll taxes and gasoline prices for a fall in traffic in the third quarter.