April 12 Some U.S. stocks on the move on Friday:
WALL ST ADDS TO LOSSES AFTER SENTIMENT DATA
U.S. stocks extended losses in morning trading after data
showed American consumer sentiment fell in April to its lowest
in nine months.
The Dow Jones industrial average fell 43.13 points or
0.29 percent, to 14,822.01, the S&P 500 lost 7.1 points
or 0.45 percent, to 1,586.27 and the Nasdaq Composite
dropped 11.43 points or 0.35 percent, to 3,288.72.
** JPMORGAN CHASE & CO, $49.14, down 0.4 pct (1002
JPMorgan Chase posted higher first-quarter profit on Friday
as it spent less money on litigation, but most of its major
businesses turned in tepid performances, and the bank's overall
** CRUMBS BAKE SHOP INC, $2.00, down 33 pct (0957
The cupcake specialty store chain's fourth-quarter loss
widened and net sales fell 2 percent, as Hurricane Sandy hit the
the critical Halloween selling season. The company lowered its
sales forecast for 2013 to about $57 million from its earlier
estimate of $73 million.
"The Company's projected sales are predicated on continued
weakness at street-level stores offset by positive contributions
from newer mall-based stores and kiosks," Crumbs
** RITE AID CORP, $2.27, up 7.5 percent (0938 ET)
Raymond James upgraded its rating on the third-largest U.S.
drugstore chain's stock to "outperform" from "market perform,"
saying the company poised to reap the benefits of its recent
refinancing and is on track to generate meaningful free cash
Shares of Rite Aid rose to their highest in more than three
years to $2.31 in early trade on the New York Stock Exchange on
** BARRICK GOLD CORP , $23.57, down 4 pct
** IAMGOLD CORP , $5.93, down 4 pct (1006
** YAMANA GOLD INC , $13.60, down 4 pct
** GOLDCORP INC , $30.54; down 2 pct (0949 ET)
** ALAMOS GOLD INC ; $11.71, down 4 pct
** HARMONY GOLD MINING LTD , $5.73, down 5
pct (0947 ET)
Spot gold on Friday toppled to its lowest since last May,
giving way as the dollar rose with residual pressure from a
draft plan revealed earlier this week for Cyprus to sell gold as
part of its bailout.
Selling accelerated as gold broke through key chart support
at $1,530 an ounce. Spot gold hit a low of $1,528.14 an
ounce, its weakest since May 16.
** WELLS FARGO & CO, $36.89, down 2 pct (1002 ET)
The No. 4 U.S. bank by assets reported a
higher-than-expected 23 percent rise in first-quarter profit on
Friday, but its mortgage business showed further signs of
slowing and net interest margins continued to shrink.
** BLACKBERRY , $13.77, up 2 pct (1002 ET)
The Canadian company said on Friday it would ask securities
regulators in Canada and the United States to probe a report
about retail return rates for its new Z10 smartphone that it
called "false and misleading." The company said return rates
were at or below its forecasts and in line with industry norms.
** FOREST OIL CORP, $4.95, down 1.4 pct (1001 ET)
** SCHLUMBERGER LTD, $75.82, down 2 pct (1001 ET)
Forest oil said Schlumberger, the oilfield services sector
leader, will pick a 50 percent working interest in the oil and
gas producer's Eagle Ford shale acreage by paying $90 million
towards future drilling costs.
** INFOSYS LTD, $43.78, down 20 pct (1000 ET)
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $74.39,
down 4 pct (1000 ET)
** WIPRO LTD, $8.71, down 5 pct (1000 ET)
Infosys forecast full-year sales growth that missed
analysts' expectations by a margin of to 50 percent, dimming
investor hopes that India's No.2 software services company
will soon start reaping the benefits of its strategic
** EVERTEC INC, $21.44, up 7 pct (1023 ET)
Shares of Evertec Inc rose as much as 10 percent in their
market debut, valuing the payment processor at $1.75 billion a
day after it priced its IPO at the top end of the expected price
** M&T BANK CORP, $101.24, down 3.5 pct (0959 ET)
** HUDSON CITY BANCORP INC, $8.32, down 5 pct (0959
The two banks said on Friday it may take more time than
expected for the U.S. Federal Reserve to rule on M&T's proposed
$3.7 billion purchase of its smaller rival because of concerns
over M&T's anti-money laundering program.
** NETFLIX INC, $174.88, up 1 pct (0959 ET)
The company's Chief Executive Reed Hastings quickly took
advantage of new federal rules on using social media to disclose
information, posting on Facebook Thursday that members of the
subscription service watched 4 billion hours of video in the
past three months.
Earlier on Thursday, the company announced a multi-year
agreement with toy maker Hasbro for children's
** ARCH COAL INC, $5.55, down 1 pct (0956 ET)
** PEABODY ENERGY CORP, $20.67, down 1 pct (0956 ET)
** CLIFFS NATURAL RESOURCES INC, $19.70, down 1 pct
** ALPHA NATURAL RESOURCES INC, $8.08, down 1 pct
Australian thermal coal benchmark prices recovered slightly
to around $89 per tonne this week as Japanese utilities struck a
deal with global miner Xstrata for their annual coal
Australia's Newcastle spot index rose to $88.90
per tonne on Wednesday, from $86.71 per tonne a week earlier,
data from online trading platform globalCOAL
** MANNKIND CORP, $3.97, down 8 pct (0956 ET)
An article on the
The therapy, called Afrezza, is intended for the treatment
of adult patients with Type 1 and Type 2 diabetes. The therapy
consists of a powder loaded into a cartridge which is used as an
** MASTERCARD INC, $533.16, down 1.5 pct (0955 ET)
** VISA INC, $166.33, down 0.7 pct (0955 ET)
Brokerage Sterne Agee graded both the payment processors'
stocks to "neutral" from "buy." MasterCard is expected to face
tough competition from Visa due to its margins, Sterne Agee
analyst Greg Smith wrote in a note to clients. He also said that
regulatory and political risks could have a greater impact on
the share price of Visa.
** XENOPORT INC, $7.08, down 3 pct (0950 ET)
The pharmaceutical company said its marketing partner,
GlaxoSmithKline, experienced delays in production of
XenoPort's restless leg syndrome drug, Horizant, which resulted
in the drug being out of stock.
XenoPort said it expects Horizant to be available in
pharmacies in June. The company is also evaluating the impact,
if any, on the company's financial expectations for
** CALLAWAY GOLF CO, $6.46, down 8 pct (0949 ET)
Raymond James graded the golf equipment retailer to "market
perform" from "outperform," citing the sudden and significant
devaluation of the Japanese Yen, and to a lesser extent similar
challenges with the British Pound.
Callaway generated 48 percent of revenues from the United
States, while Japan and Europe represented 19 percent and 14
percent of total revenues, as of end of 2012.
** ASHLAND INC, $84.95, up 8 pct (0949 ET)
Activist hedge fund Jana Partners LLC picked a 7.4 percent
stake in Ashland, saying the chemicals maker's stock was
"undervalued." Jana Partners said Ashland's current value
represents "an attractive investment opportunity," according to
a regulatory filing.
** J.C. PENNEY CO INC, $14.58, down 2 pct (0947 ET)
** BLACKSTONE GRO LP, $21.20, up 0.5 pct (0948 ET)
Troubled Penny has hired Blackstone's financial advisory arm
to explore how best to position the firm financially, three
sources said on Thursday, while key investor William Ackman said
shareholders were willing to put more capital.
** WALTER ENERGY INC , $24.95, up 4 pct
The coal miner, which is locked in a proxy fight with an
activist hedge fund, said on Thursday that its first-quarter
performance had improved from that of the fourth quarter of
** HARRIS CORP, $44.67, down 4 pct (0946 ET)
The satellite operator estimated third-quarter results below
analysts' expectations and cut its forecast for the year ended
June 29 on government budget uncertainty and the likelihood of
"key international tactical radio orders" being delayed. Harris
is scheduled to report third-quarter results on April 30.
The company also said it is restructuring its operations
such as workforce reduction, facility consolidation, and
prepayment of debt mainly in the fourth quarter, resulting in
pre-tax charges of between $65 million and $115 million.
** IXIA INC, $18.31, down 2 pct (0934 ET)
The company, which makes telecom network testing products,
estimated first-quarter revenue below its previous forecast, as
$4.15 million that the company expected to recognize in the
first quarter has now been recognized in prior periods that were
restated. The company now expects first-quarter revenue of $121
million to $123 million.
** HOME DEPOT INC, $72.66, up 1 pct (0933 ET)
Jefferies & Co graded the home-improvement chain's stock to
"buy" from "hold," saying it has a bullish view on sales for the
near and intermediate terms. "Our recent checks continue to come
back favorable, so while it may be chilly outside, we think
weather will not impede Home Depot's ability to post strong
comparable-store sales in Q1," Jefferies analyst Daniel Binder
wrote in a note.
** BANK OF AMERICA CORP, $12.12. down 1.3 pct (0933
** CITIGROUP INC, $44.28, down 1 pct (0932 ET)
** GOLDMAN SACHS GRO INC, $148.33, down 0.5 pct (0932
** MORGAN STANLEY, $22.18, down 0.4 pct (0931 ET)
At least three Wall Street analysts this week have written
reports about the possibility of the biggest banks breaking
themselves to boost profitability, signaling that investors may
be more willing to embrace an idea that is still toxic to some
lawmakers in Washington.
** J.B. HUNT TRANSPORT SERVICES INC, $72.71, down 2
pct (0931 ET)
The U.S. trucker's first-quarter profit missed analysts'
estimates, hurt by higher costs at two of its businesses that
contribute about 30 percent of the company's total revenue.
At least three brokerages raised their target price on the
stock on Friday. "The earnings miss confirms our thesis that the
company will continue to see solid top-line trends, but will
likely continue to do so at the expense of pricing and margins,"
Amit Daryanani, an analyst with RBC Capital Markets, wrote in a
research note published on Friday.