April 10 Some U.S. stocks on the move on
DOW GAINS MORE THAN 1 PCT, LED BY TECH STOCKS
The Dow Jones Industrial Average index was up 1 percent in
afternoon trading, led by gains in blue chip technology stocks.
The Dow Jones industrial average was up 127.04
points, or 0.87 percent, at 14,800.50, the Standard & Poor's 500
Index was up 17.33 points, or 1.10 percent, at 1,585.94
and the Nasdaq Composite Index was up 55.05 points, or
1.70 percent, at 3,292.91.
** OXIGENE INC, $3.98, up 18 pct (1232 ET)
The biopharmaceutical company said regulatory authorities
from two European Union countries have advised it that it should
go ahead and seek regulatory approval for its thyroid cancer
drug in the European Union, under an "exceptional or conditional
If accepted by regulators, this pathway would allow the
company file for approval of the drug, zybrestat, without having
to conduct another clinical trial and for substantially less
cost. Zybrestat is currently being tested in a mid-stage study
on patients with anaplastic thyroid cancer -- a rare form of
cancer in the thyroid gland.
** DHT HOLDINGS INC, $4.93, up 8 pct (1248 ET)
The Baltic dry index, which tracks rates for ships
carrying dry commodities, rose 0.35 percent, pushing up shares
of the crude oil tanker operator.
** TITAN MACHINERY INC, $21.90, down 17 pct (1232
The farm equipment maker posted fourth-quarter earnings way
below analysts' estimates and the company forecast weak profit
for fiscal year 2014, citing operational inefficiencies in its
construction equipment business.
** HEALTH MANAGEMENT ASSOCIATES INC, $10.62, down 16
pct (1117 ET)
** HCA HOLDINGS INC, $36.94, down 2 pct (1117 ET)
** COMMUNITY HEALTH SYSTEMS INC, $42.25, down 4 pct
** TENET HEALTHCARE CORP, $41.64, down 4 pct (1118
Shares of hospital operators fell after Health Management
Associates on Tuesday reduced its outlook for 2013 earnings and
revenue, citing weak patient admissions in the first quarter of
"Disappointing first quarter and lowered FY13 do not help
the recent weakness in hospital shares, however we view this as
more company-specific," RBC Capital Markets analyst Frank Morgan
** PFIZER INC, $29.86, up 2.6 pct (1230 ET)
U.S. regulators have granted a "breakthrough therapy"
designation to the drugmaker's experimental treatment for breast
cancer, lifting the company's shares and putting a spotlight on
its growing cancer-drug portfolio.
The FDA created the "breakthrough therapy" designation
earlier this year for medicines deemed likely to demonstrate
"substantial improvement" over existing drugs. It is intended to
speed development and regulatory review of such medicines.
** ELDORADO GOLD CORP, $8.07, down 5 pct (1240 ET)
** IAMGOLD Corp, $6.41, down 4.6 pct (1240 ET)
Gold prices fell below $1,580 as traders took to the
sidelines ahead of the release later on Wednesday of minutes
from the Federal Reserve's last policy meeting. A further
forecast cut from Goldman Sachs weighed on prices.
Spot gold was down 0.5 percent at $1,574.05 an ounce
at 1408 GMT, while U.S. gold futures for April delivery
were down $12.60 an ounce at $1,574.20.
** SUNTECH POWER HOLDINGS CO LTD, $0.72, up 15 pct
The Chinese solar panel maker said its main operating unit
in Europe had been granted a provisional two-month moratorium on
** TAYLOR MORRISON HOME CORP, $23.16 (1232 ET)
Private equity-backed company's shares rose as much as 8
percent, a day after the homebuilder priced its expanded initial
public offering at the top end of its price range. About 8
million shares of the company exchanged hands today, making it
the most heavily traded stock on the New York Stock Exchange at
** SUMITOMO MITSUI FINANCIAL ST, $9.43, up 7 pct
** NOMURA HOLDINGS, $7.25, up 7 pct (1232 ET)
** BANCO SANTANDER SA, $7.06, up 4 pct (1232 ET)
** MITSUI UFJ FINANCIAL GROUP, $6.74, up 5 pct (1232
** CREDIT SUISSE AG, $27.95, up 5 pct (1232 ET)
** SHINHAN FINANCIAL GROUP CO, $35.15, up 5 pct(1232
Shares of banks surged as analysts and traders cited
stronger investor appetite for risky assets on the back of
Japan's aggressive monetary easing policy, a potential extension
of loans to debt-stricken Ireland and Portugal, as well as
strong demand seen at an EFSF bond auction.
** HARVARD BIOSCIENCE INC, $4.79, down 15 pct (1235
The scientific instruments and apparatus maker said on
Tuesday that the initial public offering of its unit Harvard
Apparatus Regenerative Technology had been postponed due to
"Harvard Bioscience will continue to explore alternatives
related to its regenerative medicine device business, including
the optimal timing and methodology of separating that business,"
the company said in a statement.
** ADTRAN INC, $22.32, up 13 pct (1245 ET)
** CIENA CORP, $16.45, up 6 pct (1245 ET)
** JUNIPER NETWORKS INC, $19.04, up 6 pct (1245 ET)
** JDS UNIPHASE CORP, $14.07, up 5 pct (1245 ET)
** FINISAR CORP, $14.23, up 7 pct (1245 ET)
Adtran reported a quarterly profit that was more than double
that of analysts' estimates as spending at its biggest
customers, telecom service providers, improved. The company
reported a profit of 17 cents per share. Analysts on average
expected profit of 8 cents per share, according to Thomson
Shares of rivals Ciena and Juniper also rose on the news.
** BIOLINERX , $1.94, up 7 pct (1236 ET)
The biopharmaceutical company said it has received all
regulatory approvals required to begin a mid-stage study on its
compound BL-8040 to treat acute myeloid leukemia, a type of
blood cancer. The study is expected to be conducted in the
United States and Israel, and will enroll up to 50 patients,
** JINKOSOLAR HOLDING CO LTD, $5.44, down 6 pct
** YINGLI GREEN ENERGY, $2.07, down 7 pct (1236 ET)
JinkoSolar reported its sixth straight quarterly loss due to
a continued sharp decline in solar panel prices.
** GLEACHER & CO INC, $0.70, up 3 pct (1237 ET)
Gleacher said it was in talks regarding a possible merger,
less than two months after it suspended its search for a buyer,
adding to uncertainty that has already cost the investment bank
clients and employees.
** KNOT OFFSHORE PARTNERS, $22.20, up 4 pct (1237
Shares of the company, which owns shuttle tankers under
long-term charters, rose more than 6 percent in its debut after
pricing its initial public offering of 7.4 million common units
at $21 per unit.
** INFINITY PHARMACEUTICALS INC, $43.90, down 6 pct
The company on Tuesday announced a public offering of 8.5
million shares of its common stock, offered by its existing
stockholders Beacon Co and Rosebay Medical Company LP.
Infinity said it would not sell any shares or receive any
proceeds from the offering, and that the total number of shares
of its outstanding common stock would not change.
** FAMILY DOLLAR STORES INC, $60.00, down 0.4 pct
** DOLLAR TREE INC, $46.02, down 0.1 pct (1239 ET)
** DOLLAR GENERAL CORP, $50.32, up 0.1 pct (1239 ET)
Family Dollar reported a weaker-than-expected quarterly
profit on Wednesday, blaming a delay in tax refunds for hurting
sales at the end of January and early February. The discount
retailer also forecast full-year profit below Wall Street
** BARRICK GOLD CORP , $24.84, down 7 pct
A Chilean court has suspended the construction of Barrick
Gold 's $8.5 billion Pascua-Lama gold and silver mine after
indigenous communities said the project was destroying glaciers
and harming water supply. Barrick, the world's top gold miner,
told Reuters it could not comment because it had not been
notified by the court.
** PACIFIC SUNWEAR OF CALIFORNIA INC, $2.49, up 11
pct (1241 ET)
Brokerage Piper Jaffray raised its rating on the
teen-apparel retailer's stock to "overweight" from "neutral,"
saying the stable spending backdrop, the company's current
merchandising strategy of fashion preference over brand, and its
apparel which is an intersection of lifestyle and fashion are
helping Pacific Sunwear capture market share.
** FIRST SOLAR INC, $37.79, down 4 pct (1242 ET)
The solar panel maker will need strong bookings to back up
its revenue and profit estimates for the next three years,
analysts said, as shares of the U.S. solar panel maker retreated
as much as 8 percent a day after their biggest intra-day
** IBM CORP, $211.98 up 1.3 pct (1243 ET)
UBS raised its rating on the company's stock to "buy" from
"neutral," saying IBM is well positioned for the coming
computing era, as more business critical operations move to the
private cloud - an area that is IBM's strength.
The brokerage also said IBM's web hosting capability and
support of OpenStack, the open source software that offers
networking infrastructure-as-a-service on the cloud, will be
helpful later. UBS raised its price target on the stock to $235
** YAHOO INC, $24.29, up 2 pct (1243 ET)
Yahoo and Apple Inc are discussing how more of
Yahoo's services can play a prominent role on Apple's iPhone and
iPad devices, the Wall Street Journal reported, citing people
briefed on the matter. ()
The companies are discussing new arrangements, including
possible deals to get more content from Yahoo News and its other
Web properties loaded onto Apple devices or available through an
expanded Siri partnership, WSJ said.
** ASTEX PHARMACEUTICALS INC, $6.10, up 4 pct (1244
The drug developer said it expanded to about 200 patients an
ongoing mid-stage study testing its compound, SGI-110, in acute
myeloid leukemia patients with myelodysplastic syndromes - a
group of conditions that occur when the blood-forming cells in
the bone marrow are damaged.
The study has now enrolled more than half of the patients
needed to complete it, and is on track for data from it to be
reported in December, Astex said.
** LITTELFUSE INC, $65.46, up 4 pct (1244 ET)
The circuit protection products maker increased its
first-quarter revenue forecast to about $171 million from its
previous forecast of $158 million to $168 million.
** FACEBOOK INC, $27.66, up 4 pct (1246 ET)
** GENERAL MOTORS CO, $28.15, up 2 pct (1246 ET)
General Motors is running ads for a Chevrolet car on mobile
versions of Facebook, the automaker's first ads on the social
network since publicly announcing its decision to stop
advertising on Facebook nearly a year ago.
Separately, General Motors renewed a commitment to its
loss-making European brand on Wednesday, pledging to invest 4
billion euros ($5.2 billion) in Opel by the end of 2016 to
support new model launches.
** THERMO FISHER SCIENTIFIC INC, $81.10, up 4 pct
** LIFE TECHNOLOGIES CORP, $66.53, up 0.4 pct (1247
Thermo Fisher made a binding offer for Life Technologies on
Tuesday as private equity firms raced to finalize a consortium
to take the genetic testing equipment maker private, several
people familiar with the matter said.
Thermo Fisher is bidding more than $65 per each Life Tech
share, two of the people said. While the exact price could not
be learned, Thermo had been considering a bid of $65 to $70 per
share, sources said last week.
** MSC INDUSTRIAL DIRECT CO, $80.02, down 4 pct
The industrial distributor forecast weak third-quarter sales
and profit due to weakness in its heavy industrial end markets,
particularly the metalworking-related sectors.
** FASTENAL CO, $49.55, down 3 pct (1248 ET)
The industrial distributor reported quarterly revenue below
analysts' estimates due to slowing growth in its manufacturing
and non-residential construction markets.
** REALOGY HOLDINGS CORP, $44.07, down 2 pct (1249
The real estate brokerage estimated a net loss of $69
million to $78 million and net revenue of $950 million to $960
million for the first quarter ended March 31. Analysts on
average were expecting a loss of 42 cents per share on revenue
of $988.1 million, according to Thomson Reuters I/B/E/S.
The company, which went public in October, also said funds
associated with Apollo Global Management LLC would offer
35 million common shares.
** GREENBRIER COS INC, $23.20, up 9 percent (1249
KeyBanc Capital Markets upgraded the railcar maker's stock
to "buy" from "hold," saying Greenbrier is well positioned to
benefit from the recovery in demand for auto, intermodal and
covered hopper cars.
"Additionally, the recently announced initiatives to
increase gross margin by at least 200 basis points while
liberating $100 million in capital by the end of fiscal year
2014 are achievable and likely conservative," KeyBanc analyst
Steve Barger said.
** RESOURCE CAPITAL CORP, $6.25, down 4 pct (1250
The real estate finance company said a public offering of
16.3 million shares has been priced at $6.33 per share. The
company intends to use the proceeds from the offering for
general corporate purposes.
** W.R. GRACE, $74.30, down 2 pct (1251 ET)
Chemicals maker W.R. Grace & Co estimated quarterly
earnings below analysts' expectations and lowered full-year
profit forecast after some customers reduced their inventory and
some others delayed purchases.
** DRAGONWAVE INC , $1.82, up 17 pct (1251
The telecom network equipment maker said it cut 33 percent
of its senior management jobs and amended its deal with Nokia
Siemens Networks to reduce operating costs and cut
three senior management positions.
** SYNERGY PHARMACEUTICALS INC, $6.36, down 12 pct
The drug developer on Tuesday said it would sell $90 million
of its common stock in an underwritten public offering.
** PRICESMART INC, $82.87, up 3 pct (1252 ET)
The warehouse club operator's second-quarter results came in
above Wall Street estimates, boosted by a 10 percent jump in
warehouse club sales.
** ACTIONS SEMICONDUCTOR CO LTD, $2.73, up 3 pct
The Chinese company, which makes chips for consumer
electronic products, raised its revenue forecast for the first
quarter mainly driven by stronger-than-expected sales of its
newest tablet product. It now expects revenue of $16
million-$16.5 million, up from $12 million-$13 million.
** SEACHANGE INTERNATIONAL, $11.00, down 4 pct
The video management software maker forecast weak
first-quarter earnings after fourth-quarter revenue missed Wall
Street expectations, hurt by a slight drop in service revenues.