(For more market insights, including options activity, click on
; for the Day Ahead newsletter link.reuters.com/mex49s;
for the Morning News Call newsletter, link.reuters.com/nex49s)
Sept 12 Some U.S. stocks on the move on
WALL ST EDGES LOWER AFTER SEVEN SESSION RALLY
U.S. stocks edged lower after a seven-session winning streak
on the S&P 500 and a jobless claims report which provided few
clues into the Federal Reserve's upcoming decisions about
stimulus policy. The Dow Jones industrial average fell
0.04 percent, the S&P 500 lost 0.15 percent, and the
Nasdaq Composite dropped 0.21 percent.
** ENDEAVOUR SILVER CORP, $4.31, down 7 pct (10:04
** BARRICK GOLD CORP, $17.81, down 4.4 pct
** MCEWEN MINING, $2.41, down 8 pct
** ROYAL GOLD INC, $52.16, down 3 pct
** NEWMONT MINING CORP, $28.50, down 3 pct
** YAMANA GOLD INC, $10.30, down 4 pct
Gold prices fell nearly 3 percent ahead of a Federal Reserve
meeting next week at which the central bank is widely tipped to
announce it is curbing its bullion-friendly monetary stimulus
measures. The Fed is expected to say at a two-day gathering
starting on Sept. 17 that it is set to start reining in its $85
billion monthly bond-buying programme, possibly triggering new
selling pressure on the metal.
** OCLARO INC, $1.54, up 45 pct (09:33 a.m. ET)
The optical components maker, which has a market
capitalization of about $98 million, said it sold its Zurich,
Switzerland-based semiconductor laser business to II-VI Inc
for about $115 million and its optical amplifier and
micro-optics business for $88 million.
** NETSOL TECHNOLOGIES, $11.97, up 17 pct (9:48
The company, which provides software and IT services for
financial, automotive leasing and healthcare industries, posted
fourth-quarter results way ahead of Wall Street estimates as
demand rose for its services. The company said its average deal
size is increasing.
** VERTEX PHARMACEUTICALS INC, $81.63, up 2 pct
(9:49 a.m. ET)
** AMETEK INC, $45.70, up 3 pct
** ADVANCED MICRO DEVICES INC, $3.77, down 1 pct
** SAIC INC, $14.55, down 1 pct
S&P Dow Jones Indices announced late Wednesday that Vertex
Pharmaceuticals and Ametek will replace Advanced Micro Devices
and SAIC in the S&P 500 after the close of trading on Sept. 20.
** LULULEMON ATHLETICA INC, $64.51, down 6.5 pct
(9:48 a.m. ET)
The retailer , recovering from a setback after its
see-through yoga pants were recalled earlier this year, trimmed
its forecast. For the 2013 full fiscal year, the company expects
net revenue in the range of $1.625 billion to $1.635 billion,
down from $1.645 billion to $1.665 billion previously
** KEY ENERGY SERVICES, $7.36, down 7 pct (10:10
The oilfield services company said revenue from its U.S.
operations is expected to dip 2 to 4 percent from the second
quarter as it had to redeploy equipment to reflect changes in
the customers' programs. The company said income margins for the
operations may fall by 100 to 200 basis points. Key also said it
expects its international operations to be flat quarter over
quarter, lower than the 15 percent rise forecast earlier. (link.reuters.com/fev92v)
** WENDY'S CO, $8.54, up 3.5 pct (10:06 a.m. ET)
Argus Research Co upgraded the second-largest U.S. hamburger
chain's stock to "buy" from "hold" as it expects restaurant
remodeling and improved menus to boost the company's sales over
the next few years.
** NEOSTEM INC, $8.95, up 4 pct (10:09 a.m. ET)
The cellular therapy company said it received a grant of
$147,765 from the National Institutes of Health to fund
preclinical studies testing the potential of its stem cell
technology to treat wounds associated with scleroderma. NeoStem
said it may qualify for an additional $1.5 million grant based
on the results of the study. Scleroderma is a tissue disease
that causes the skin and connective tissues to harden and
** MEN'S WEARHOUSE INC, $35.55, down 8 pct (9:46 a.m.
The retailer reported lower-than-expected results for the
second quarter and lowered its full-year earnings forecast,
citing difficult trends in the apparel industry.
** JONES GROUP, $15.50, up 3 pct (10:14 a.m. ET)
Private equity firms KKR & Co LP and Sycamore
Partners are considering a joint bid for the fashion and
footwear company that owns retail chains Nine West and Jones New
York, the Wall Street Journal reported, citing people familiar
with the matter.
** CASH AMERICA INTERNATIONAL INC, $43.87, up 3 pct
(10:08 a.m. ET)
JMP Securities upgraded the pawn lender's stock to "market
outperform" from "market perform," saying that its recent
addition of 34 pawn lending locations in Georgia and North
Carolina, government campaign against unregulated payday lenders
and recent low volatility in gold prices would boost the
** ROSETTA GENOMICS LTD, $3.50, up 8 pct (9:35 a.m.
The molecular diagnostics company said it received a patent
allowance in the United States for its method of determining the
risk of a blood pressure-related complication in pregnant women
and the development of a treatment based on the expression of
** KROGER CO, $38.84, up 3 pct (10:27 a.m. ET)
The biggest U.S. supermarket operator reported a 14 percent
jump in its second-quarter profit as it capped costs and drove
sales higher with programs for loyal shoppers.
** EXTREME NETWORKS INC, $4.46, up 11 pct (9:45
The network-gear maker said it would buy privately held
wired and wireless network hardware and software company
Enterasys Networks Inc for $180 million in cash. Extreme
Networks expects the deal to add to earnings immediately.
** COLUMBIA LABORATORIES INC, down 12 pct, $7.32
(9:37 a.m. ET)
The drugmaker said it will buy privately held Molecular
Profiles Ltd for about $25 million to gain access to the UK
company's clinical manufacturing services. Columbia Labs said
the deal will immediately add to its earnings.
** STERLING FINANCIAL CORP, $28.43, up 7 pct (9:54
** UMPQUA HOLDINGS CORP, $16.27, down 4 pct
Umpqua has agreed to buy private equity-backed Sterling
Financial in a $2 billion cash-and-stock deal, the companies
said on Wednesday.
** PANDORA MEDIA INC, $23.43, up 9 pct (9:37 a.m. ET)
The online streaming music company named former Microsoft
Corp executive and venture capitalist Brian McAndrews
as president, chairman and CEO on Wednesday. McAndrews, 54,
replaces Joe Kennedy who announced in March he was leaving
** SUNSHINE HEART INC, $11.73, up 8 pct (10:17 a.m.
Sunshine Heart said it enrolled its first patient in a
pivotal study of its C-Pulse heart device in the United States.
The implantable device will be tested in patients with moderate
to severe heart faliure.
** SYNTA PHARMACEUTICALS CORP, $6.99, up 4 pct
(9:44 a.m. ET)
The company said the U.S. Food and Drug Administration
granted fast-track status to its lead experimental drug
ganetespib as a treatment for non-small cell lung cancer.
A fast-track designation expedites regulatory
review of drugs that aim to treat serious diseases and fill
unmet medical needs.
** DOMINION RESOURCES INC $60.95, up 4 pct (9:44 a.m.
The Obama administration on Wednesday authorized natural gas
exports from a fourth U.S. facility -- Dominion Resource's Cove
Point terminal on Maryland's Chesapeake Bay -- unexpectedly
accelerating a review process that would-be gas exporters and
their allies in Congress had criticized as too slow.
** WEATHERFORD INTERNATIONAL LTD, $14.77, down 6 pct
(9:43 a.m. ET)
Brokerage Raymond James downgraded the oilfield services
company's stock to "market perform" from "outperform", citing
its "overly optimistic" full-year forecast and the management
uncertainty following the departure of Chief Financial Officer
** ARCH COAL INC, $5.01, down 2 pct (9:41 a.m. ET)
** ALPHA NATURAL RESOURCES INC, $6.52, down 2 pct
** JAMES RIVER COAL CO, $2.21, down 4 pct
** WALTER ENERGY INC, $14.88, down 3 pct
The Obama administration plans to block the construction of
new coal-fired power plants unless they are built with novel and
expensive technology to capture greenhouse gases, the Wall
Street Journal reported. (link.reuters.com/kyr92v)
China unveiled comprehensive new measures to tackle air
pollution, with plans to slash coal consumption and close
polluting mills, factories and smelters, but experts said
implementing the bold targets would be a major challenge.
** CLIFF NATURAL RESOURCES, $22.71, down 4 pct (9:40
The miner has lost a key land dispute at a Canadian tribunal
that could cause more problems for its already troubled Black
Thor chromite project in northern Ontario's mineral-rich Ring of
** VERA BRADLEY INC, $19.82, down 2 pct (9:47 a.m.
The women's handbag and accessories retailer forecast
third-quarter results below Wall Street estimates as it expects
its gross margin to decline due to increased promotional
activity. The company also lowered its full-year profit and
** GLU MOBILE INC, $2.26, down 6 pct (9:39 a.m. ET)
The mobile game maker reaffirmed its forecast for the third
quarter, which were largely below analysts' expectations. The
company had forecast an adjusted loss of 10 cents to 11 cents on
revenue of $19.6 million to $21 million. Analysts were expecting
a loss of 10 cents on revenue of $20.3 million.
** ZYNGA INC, $3.11, up 4 pct (9:39 a.m. ET)
Brokerage Evercore Partners upgraded the game publisher's
stock to "equal weight" from "underweight" as it expects Zynga
to launch a game to compete with King's "Candy Crush Saga".
** HALCON RESOURCES CORP, $5.03, up 2 pct (9:39 a.m.
The oil and gas company said it would sell some non-core
assets in the United States for about $302 million. The company
said the assets produce about 4,500 barrels of oil equivalent
** URS CORP, $51.35, up 2 pct (10:20 a.m. ET)
The engineering company said it would use its free cash flow
to return at least $500 million to its shareholders by the end
of 2015 by issuing dividends and buying shares. The remaining
cash would be used to pay debt and fund growth. URS does not
expect to look for any "significant acquisitions" during the
period, the company said.
(Compiled by Varun Aggarwal; Editing by Don Sebastian)