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U.S. stocks fell on Thursday, hurt by disappointing
manufacturing data in China and a mixed bag of recent U.S.
corporate earnings. The Dow Jones industrial average was
down 1.12 percent at 16,189.71, the S&P 500 was down 1.03
percent at 1,825.92 and the Nasdaq Composite was down
0.92 percent at 4,203.773.
** FUSION-IO INC, $11.38, +20.81 pct
The solid-state data storage maker reported
better-than-expected results for the second quarter on
Wednesday, helped by diversification in its customer base and
greater traction with original equipment manufacturers.
Fusion reported an adjusted loss of 6 cents per share on
revenue of $94.5 million. Analysts on average had expected a
loss of 10 cents per share on revenue of $89.3 million,
according to Thomson Reuters I/B/E/S.
** SILICOM LTD, $59.78, +28.59 pct
The company, which makes computer networking equipment,
reported a 52 percent rise in fourth-quarter revenue.
** NOBLE CORP, $32.99, -8.99 pct
The offshore drilling contractor's chief executive said he
expected slack demand for rigs in the first part of this year.
However, Noble posted a rise in fourth-quarter profit on
Wednesday, in line with analysts' estimates, as the company
successfully raised daily rates.
** UNITED CONTINENTAL HOLDINGS INC, $48.04, -2.32
The airline forecast current-quarter revenue that
disappointed some analysts. However, the company posted a
quarterly profit that easily topped Wall Street expectations,
helped by an increase in passenger travel, higher ticket prices
and lower fuel costs.
** JANUS CAPITAL GROUP INC, $11.99, -7.70 pct
The asset manager's fourth-quarter profit rose 23 percent
due to higher investment management fees, but outflows
** JPMORGAN CHASE & CO, $56.34, -2.17 pct
The lender's Chief Executive Jamie Dimon said government
legal cases, including those over mortgage securities the
company settled for more than $13 billion, were "unfair".
** GATX CORP, $60.312, +16.37 pct
The railcar leasing company reported better-than-expected
results for the fourth quarter due to a strong demand for tank
cars in North America and high lease rates.
The company also said it expected 2014 earnings to be
$3.85-$4.05 per share. Analysts on average were expecting $3.61
per share, according to Thomson Reuters I/B/E/S.
GATX's board also authorized a $250 million share repurchase
** HERCULES OFFSHORE INC, $4.9201, -14.43 pct
At least two brokerages cut their rating on the offshore
drilling contractor's stock, after the company's fleet status
report for January showed lower contracting activity for
shallow-water rigs in the Gulf of Mexico.
Cowen and Co analysts noted that average backlog per rig had
fallen to 125 days from 210 days last July.
** JA SOLAR HOLDINGS CO LTD, $9.31, -6.05 pct
** RENESOLA LTD, $3.77, -3.58 pct
** YINGLI GREEN ENERGY HOLDING CO LTD, $6.47, -5.13
** TRINA SOLAR LTD, $15.39, -7.01 pct
Shares of Chinese solar companies fell after a judge in the
United States ruled that Chinese units of the global "Big Four"
accounting firms should be suspended from auditing U.S.-listed
companies for six months, saying the auditors failed to give
regulators papers of certain Chinese companies under
investigation for accounting fraud.
Other than the headline risk from news from China, solar
stocks have been overstretched, Raymond James analyst Pavel
Molchanov said. "Against this backdrop, even a relatively small
piece of negative news, such as the Big Four news, can have an
outsized effect on the (Chinese solar) stocks," he said.
** TEXAS CAPITAL BANCSHARES INC,$58.985, -7.14 pct
The bank holding company reported weaker-than-expected
quarterly results as it set aside more money to cover soured
loans. Loan loss provision rose 20 percent in the fourth quarter
to $4.9 million.
** JEFFERSON BANCSHARES INC, $7.7645, +18.91 pct
HomeTrust Bancshares said it would buy the
Tennessee-chartered savings bank for about $51.2 million in a
cash and stock deal to enter the east Tennessee market.
** ARCTIC CAT INC,$43.19, -19.62 pct
The company, which sells all-terrain vehicles and
snowmobiles under the Arctic Cat brand, cut its full-year sales
and earnings forecast after reporting a lower quarterly profit.
Gross profit margins fell to 17.8 percent in the third
quarter from 23.3 percent a year earlier, mainly due to sales of
lower-margins Yamaha snowmobiles.
** HERBALIFE LTD, $64.06, -12.88 pct
Massachusetts Senator Edward Markey is asking for more
information about the business practices of the nutrition
company, which has been accused of running a pyramid scheme by
prominent hedge fund manager Bill Ackman.
Markey sent letters to the Securities and Exchange
Commission, the Federal Trade Commission and to Herbalife itself
to try an obtain more information, his office said in a news
release on Thursday.
** SANTANDER CONSUMER USA HOLDING INC, $25.87, +7.79
Shares of the consumer finance unit of Spanish bank
Santander SA rose as much as 10 percent in their U.S.
market debut. The Spanish lender said earlier on Thursday that
it planned to increase the equity of its U.S. holding company by
up to $2 billion to back growth plans.
** NETFLIX INC, $385.498, +15.51 pct
The company added more than 2.3 million U.S. customers in
the fourth quarter and said it was testing different pricing
plans for its monthly TV and movie streaming service.
** LOGITECH INTERNATIONAL SA, $16.1, +21.79 pct
The computer-mouse maker raised its forecast for
the full year after reporting better-than-expected third-quarter
** POLYCOM INC, $11.98, +1.78 pct
The company reported better-than-expected quarterly results
due to higher sales of its desktop video-conferencing devices,
and said it would cut 6 percent of its workforce.
** ARIAD PHARMACEUTICALS INC, $7.45, +11.03 pct
At least three pharmaceutical companies, Eli Lilly and Co
, Shire Plc and GlaxoSmithKline Plc, have
approached Ariad's board to buy the company, and were prepared
to pay up to $20 per share in cash, according to a report on the
website of the Daily Mail newspaper. (link.reuters.com/ben36v)
** HILL-ROM HOLDINGS INC $37.79, -14.33 pct
The medical products and technologies provider reported
weaker-than-expected results for the first quarter, hurt by
falling sales in North America, the Middle East and Latin
The company also forecast full-year earnings below analysts'
estimates and said it would cut 350 jobs, or 5 percent of its
workforce, to reduce costs.
** WESTERN DIGITAL CORP, $87.37, -0.81 pct
The world's No. 1 hard-disk drive maker forecast a tepid
third quarter as it expects cautious spending and a decline in
the PC market to hit sales.
** F5 NETWORKS INC, $103.81, +6.49 pct
The network gear maker forecast current-quarter revenue
above Wall Street estimates, helped by strong sales of its data
traffic management products.
** SANDISK CORP, $71.41, -1.08 pct
The company posted higher fourth-quarter profits but gave a
revenue outlook that fell short of some analysts' expectations
and said memory chip prices would fall more this year than in
** ENDEAVOUR SILVER CORP, $4.518, +4.58 pct
Analysts at BMO Capital Markets raised their price target on
the Canadian silver miner's stock to C$5.50 from
C$4.75, citing the company's forecast of higher silver output
this year. Endeavour Silver said it expected to produce 10.4
million-11 million ounces of silver in 2014, higher than 6.8
million ounces it produced in 2013.
** RAMBUS INC, $8.99, +4.29 pct
Citigroup raised its rating on the technology licensing
company's stock to "buy" from "neutral," according to
** AMERICAN EAGLE OUTFITTERS INC, $12.96, -9.43 pct
The company said its chief executive of two years, Robert
Hanson, would leave the company in a surprising move at a time
when U.S. teen apparel retailers are struggling to attract
shoppers and boost sales.
** NOKIA, $6.972, -9.45 pct
The company reported a 22 percent fall in sales
at its core NSN network equipment division, highlighting the
problems facing management once it completes the sale of its
former flagship phones business to Microsoft for 5.4
billion euros ($7.4 billion).
** COBALT INTERNATIONAL ENERGY INC, $17.38, +3.21
The U.S. oil and gas producer said on Wednesday it
discovered oil at its Bicuar 1A well, offshore Angola. The well,
drilled in partnership with Angola's national oil company
Sonangol, reached its total depth in 59 days, about 63 days
The Bicuar area may bring about $644.5 million, or $1.58 per
share, for Cobalt, Global Hunter Securities analyst Curtis
Trimble wrote in a note.
** BIOLINERX, $3.0601, +4.44 pct
The drug developer said the U.S. health regulator granted an
orphan drug status to its experimental drug candidate, BL-8040,
as a stem cell therapy for certain cancer patients.
The orphan drug status is granted to drugs that aim to treat
rare diseases affecting not more than 200,000 people in the
United States and gives the drugmaker a seven-year marketing
BL-8040 mobilizes stem cells from the bone marrow to the
peripheral blood in patients suffering from hematologic cancers,
a type that affects blood, bone marrow and lymph nodes.
** CLEVELAND BIOLABS INC, $0.7489, -33.73 pct
The biotechnology company said the U.S. Department of Health
and Human Services terminated negotiations related to the
development of its anti-radiation treatment, citing a lack of
** ACCELERON PHARMA INC, $51.92, -8.43 pct
The company priced on Wednesday a public offering of 2.4
million shares of its common stock at $50 per share. The price
represents a 12 percent discount to the stock's closing price on
** GLOBAL BRASS AND COPPER HOLDINGS INC, $17.12,
The copper and brass products processor said an affiliate of
its largest shareholder, KPS Capital Partners LP, would begin a
public offering of Global Brass's 3.75 million common shares.
Global Brass will not receive any proceeds from the offering,
the company said on Wednesday.
** PRECISION CASTPARTS CORP, $259.29, -4.21 pct
The company, which makes forgings and fasteners for
aerospace and industrial gas turbine applications, reported
third-quarter revenue below analysts' estimates as customers
postponed delivery schedules.
Precision Castparts books revenue only after the products
have been delivered.
** UNION PACIFIC CORP, $173.32, +2.86 pct
The company posted a bigger quarterly profit as it raised
prices and saw demand in overall shipments grow, Union Pacific
** MCKESSON, $172.13, +1.44 pct
The majority shareholder behind German drugs distributor
Celesio is in talks to buy the shares in Celesio held
by hedge fund Elliott as part of a fresh attempt to sell the
company to U.S. drugs wholesaler group McKesson, a person
familiar with the talks told Reuters.
** ABBOTT LABORATORIES INC, $37.45, -1.63 pct
The company reported weaker-than-expected fourth-quarter
revenue, hurt by disappointing sales of its generic medicines
and the lingering impact of an overseas recall of its baby
formulas last summer.
(Compiled by Neha Dimri in Bangalore; Edited by Kirti Pandey)