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U.S. stocks fell on Friday in the wake of a selloff in emerging
market assets, as expectations grew that the Federal Reserve
will trim its market-friendly stimulus measures further next
week. The Dow Jones industrial average was down 1.12
percent at 16,016.58, the S&P 500 was down 1.31 percent
at 1,804.47 and the Nasdaq Composite was down 1.57
percent at 4,152.597.
** MICROSOFT CORP, $36.67, +1.71 pct
The company posted a bigger-than-expected quarterly profit
on Thursday, boosted by strong sales of its software and
services for businesses, a solid holiday season for its new Xbox
game console and Surface tablets, and a slightly lower tax bill.
** COVIDIEN PLC, $68.95, +3.19 pct
The medical devices maker posted a quarterly profit above
analysts' estimates, helped by strong sales of its surgical
products, especially vessel sealing and stapling devices.
** FIRST NIAGARA FINANCIAL GROUP INC, $9.31, -9.96
The lender posted a higher quarterly profit as it earned
more interest income, but the company also set aside more funds
to cover bad loans. First Niagara earned $78 million, or 20
cents per share in the fourth quarter, up from $61.1 million, or
15 cents per share, a year earlier.
First Niagara's provision for credit losses increased about
46 percent to $32 million in the quarter ended Dec. 31.
** WALTER ENERGY INC, $11.45, -8.40 pct
Wells Fargo analysts cut their price target on the coal
producer's stock to "market perform" from "outperform," saying
coal prices would remain challenging in 2014, with China
potentially slowing again due to tightening credit. The analysts
also cited Walter's high debt and weak earnings as a reason for
the target cut.
** CARE.COM INC, $22.18, +30.47 pct
The family care website's shares rose as much as 35 percent
in their U.S. market debut a day after the company priced its
offering of 5.4 million shares at $17 per share.
The company had expected to price the offering between $14
and $16 per share.
** PROSPERITY BANCSHARES INC, $65.78, +6.27 pct
The Houston-based bank reported higher-than-expected
quarterly earnings as its loan book grew. Prosperity's net
income rose to $62.3 million, or 98 cents per share, in the
fourth quarter from $48.3 million, or 85 cents per share, a year
Analysts had expected the company to earn 91 cents per
share, according to Thomson Reuters I/B/E/S.
** SVB FINANCIAL GROUP, $119.19, +8.10 pct
The bank reported a higher quarterly profit as it earned
more net interest income.
Sandler O'Neill Partners raised the price target on
company's stock by $12 to $116, maintaining a "hold" rating.
** PTC THERAPEUTICS INC, $25.1301, -4.16 pct
The company said a committee of the European Medicines
Agency recommended against a conditional approval to its drug
for the treatment of a rare muscular disorder, sending its
shares down nearly 30 percent in premarket trading.
** BIODELIVERY SCIENCES INTERNATIONAL INC, $8.6,
The drugmaker said its experimental drug to treat chronic
pain met its main goal in a late-stage trial.
At least two brokerages raised their price target on the
drugmaker's stock on Friday.
** 3D SYSTEMS CORP, $79.53, -6.76 pct
Short-seller Citron Research said the 3D printer maker's
stock was overvalued. Citron criticized 3D Systems for
aggressively acquiring companies that it alleged do not control
unique or transformative technology. The firm set a $56 price
target on the stock and said this could go even lower in the
"Many of these (acquired companies) synergize poorly, and
most were bought for 2x revenues, while DDD is now selling for
over 20x revenues," Citron said. (r.reuters.com/huw36v)
** XEROX CORP, $11.5, -2.21 pct
The company, best known as a maker of printers and copiers,
reported weaker-than-expected quarterly revenue as growth in its
services business stalled.
** EBAY INC, $54.42, -0.95 pct
Activist investor Carl Icahn's stake in the e-commerce
company is more than previously reported at close to 2 percent,
a source familiar with the matter said on Thursday. EBay said
this week that Icahn had taken a 0.82 percent interest in the
company earlier this month and made a non-binding proposal for
eBay to spin off its PayPal payments business.
** GENERAL MOTORS, $36.93, -3.88 pct
The company is seeking to cut shifts by half at one of its
South Korean factories as it realigns global manufacturing in a
move that could affect about 1,100 jobs, a source with direct
knowledge of the matter told Reuters on Friday.
** STARBUCKS CORP, $75.75, +3.22 pct
The world's biggest coffee chain's quarterly sales at
established restaurants in its U.S.-dominated Americas region
cooled more than analysts expected as online shopping kept more
consumers at home and reduced their visits to its coffee bars.
However, the company boosted its fiscal 2014 earnings per
share forecast to a range of $2.59 to $2.67, from $2.55 to $2.65
** INTUITIVE SURGICAL INC, $413.66, -5.77 pct
The company said on Thursday that it expected to sell fewer
of its high-priced da Vinci surgical robot systems in 2014 than
last year and diverged from past practice by not providing a
revenue forecast for the year.
** JUNIPER NETWORKS INC, $28.08, +7.96 pct
Jana Partners LLC has taken a large stake in the network
gear maker, a move that comes at a time when Juniper is being
urged by one of its prominent investors to increase shareholder
** KANSAS CITY SOUTHERN, $100.56, -14.26 pct
The regional railroad operator missed fourth-quarter profit
estimates on Friday amid weakness in its energy business,
including lower coal shipments.
** SYNAPTICS INC, $60, +5.62 pct
The chipmaker reported better-than-expected second-quarter
revenue on Thursday, helped by higher demand for its touchscreen
and touch pad chips. The company, whose chips are used in mobile
phones made by Samsung Electronics Co Ltd and Nokia
Oyj, also forecast third-quarter revenue largely
At least four brokerages raised their price targets on the
** ATOSSA GENETICS INC, $2.53, -20.94 pct
The company priced a public offering of about $5.8 million
units at a price of $2.40 per unit.
Atossa said it expected about $14 million in gross proceeds
from the offering. The company will use the net proceeds of the
offering for general corporate purposes, including the re-launch
of its breast health device, which it said it would recall in
** BOEING CO, $137.23, -2.89 pct
The reliability of Boeing's 787 Dreamliner is slowly
improving but it is still not at a satisfactory level and the
firm is working to improve the jet's performance, said Mike
Fleming, Boeing's vice president for 787 support and services.
** UROPLASTY INC, $4.22, +20.57 pct
The medical devices maker posted a smaller-than-expected
loss for the third quarter, helped by strong sales growth of its
device for treating an overactive bladder. The company forecast
a fourth-quarter revenue growth of 25-30 percent for the device
in the United States.
Roth Capital Partners raised its price target on the stock
to $5 from $4.50, citing the strong quarterly results and
** RESMED INC, $43.94, -6.27 pct
The medical devices maker reported weaker-than-expected
quarterly results, hurt by declining sales in the U.S. market
due to competitive bidding in the Medicare program and increased
William Blair cut its rating on the company's stock to
"market perform" from "outperform."
Jefferies cut its price target on the stock to $40 from $46,
saying ResMed is experiencing a hit to both volume and pricing.
** PROCTER & GAMBLE CO, $80.94, +3.45 pct
** KIMBERLEY CLARK CORP, $108.76, +3.17 pct
Procter & Gamble, the world's largest household products
maker, said it expected organic sales, which strip out the
impact of currency changes as well as acquisitions and
divestitures, to rise 3-4 percent, and core earnings to rise 5-7
percent in 2014. However, the company reported lower quarterly
profit, hurt by unfavorable currency movements and lower gross
Rival Kimberley Clark said its organic sales rose 5 percent,
and forecast that they would rise 3-5 percent in 2014.
** CST BRANDS INC, $30.98, -5.29 pct
The gas station operator and convenience merchandise
retailer said on Thursday that its fourth-quarter motor fuel
volume in both the United States and Canada was expected to be
close to the low-end of its previous estimate.
Motor fuel volume is expected to be 4,850-4,950 gallons per
site per day in the United States and 3,300-3,400 gallons per
site per day in Canada.
The company also said it expected North America merchandise
sales in the quarter to be at the low end of its prior forecast.
** COMPUWARE CORP, $10.35, -1.90 pct
The business software maker reported lower-than-expected
third-quarter revenue on Thursday, hurt by lower fee from its
software license business coupled with stagnant maintenance
activities fee and professional services revenue.
** QUALCOMM INC, $74.46, -1.86 pct
** HEWLETT-PACKARD CO, $28.72, -2.21 pct
Chipmaker Qualcomm acquired a patent portfolio from
Hewlett-Packard, including those of its iPaq smartphone, for an
undisclosed amount. The portfolio comprises about 1,400 granted
patents and pending patent applications from the United States
and about 1,000 granted patents and pending patent applications
from other countries.
** ARCH COAL INC, $4.07, -4.01 pct
Analysts at Clarkson Capital Markets cut their rating on the
coal producer's stock to "underperform" from "market-perform,"
saying they expected the company to generate a negative free
cash flow in 2015.
Analysts also expressed concerns about declining
productivity at Arch Coal's flagship steel-making metallurgical
coal mine of Mountain Laurel, West Virginia.
** MCKESSON CORP, $175.01, +1.53 pct
The U.S. drugs distributor succeeded in its second attempt
to win control of German peer Celesio in a deal with
Celesio's two largest shareholders, German investment group
Haniel and U.S. hedge fund Elliott.
** INTERNATIONAL GAME TECHNOLOGY, $15.4, -12.75 pct
The slot-machine maker warned that its full-year profit
would more likely be towards the lower end of its previous
forecast due to continued weakness in the North American gaming
** JA SOLAR HOLDINGS CO LTD, $8.74, -6.12 pct
** RENESOLA LTD, $3.51, -7.14 pct
** YINGLI GREEN ENERGY HOLDING CO LTD, $5.91, -7.37
** TRINA SOLAR LTD, $14.04, -7.02 pct
** CANADIAN SOLAR INC, $38, -7.50 pct
U.S. trade officials opened investigations on Thursday into
imports of certain solar power products from China and Taiwan,
following a complaint at the end of last year by the U.S. unit
of German solar manufacturer SolarWorld AG.
The company at the time said it was seeking to close a
loophole that enabled Chinese solar panel producers to evade
U.S. import duties by using cells manufactured in other
countries, mainly Taiwan.
** LOCKHEED MARTIN CORP, $148.79, -1.13 pct
A new U.S. Defense Department report warned that ongoing
software, maintenance and reliability problems with Lockheed
Martin's F-35 stealth fighter could delay the Marine Corps'
plans to start using its F-35 jets by mid-2015.
The company forecast on Thursday higher earnings in 2014
after charges linked to U.S. defense budget cuts and workforce
reductions depressed earnings in the fourth quarter.
** BANK OF AMERICA CORP, $16.56, -1.78 pct
The lender is looking to win more advisory and stock
underwriting business to offset an expected slowdown in the
issuance of corporate bonds, a top executive said in an
interview on Thursday.
** SYNGENTA AG, $74.7, -4.00 pct
Two leading U.S. grain groups have asked the world's largest
crop chemicals company to suspend the commercial use
in the United States of two genetically modified strains of corn
not currently approved in China.
** DIGI INTERNATIONAL INC, $10.42, -13.81 pct
The networking device maker forecast current-quarter results
below analysts' estimates, after reporting lower-than-expected
results for the first quarter on Thursday due to a fall in
revenue in its product business.
The company said its product revenue was hurt by a delay in
orders from some customers.
** APPLIED MICRO CIRCUITS CORP, $11.03, -2.82 pct
The chipmaker reported third-quarter revenue slightly below
estimates on Thursday, prompting brokerage BMO Capital Markets
to lower its price target on the company's stock to $12 from
** DISCOVER FINANCIAL SERVICES, $54.86, +4.69 pct
The credit card issuer reported a better-than-expected 11
percent rise in quarterly profit as more consumers used cards to
** OPENTEXT CORP, $101.37, +11.86 pct
The Canadian business software maker's
second-quarter results beat analysts' estimates, driven by
higher license sales and customer service revenue.
** PROGENICS PHARMACEUTICALS INC, $6.1801, -8.17
The company filed a prospectus, called a shelf registration,
with the U.S. Securities and Exchange Commission seeking to
raise up to $150 million through the potential sale of
securities that could include stock, debt securities, or
** KKR & CO, $24.45, -5.12 pct
** BLACKROCK INC, $308.42, -2.27 pct
KKR & Co and BlackRock are among the investors in talks to
buy a stake in China Huarong Asset Management Co Ltd as the bad
debt manager seeks to raise more than $2 billion, people
familiar with the matter told Reuters.
** NOVARTIS, $79.95, -2.25 pct
The European Medicine Agency recommended rejecting an
application from the Swiss drugmaker to market its
heart failure drug serelaxin.
** GOLDMAN SACHS GROUP INC, $168.61, -1.25 pct
The bank may stop traders from using certain chat messaging
services to protect internal conversations that are lately being
subjected to intense regulatory scrutiny, the Wall Street
(Compiled by Neha Dimri in Bangalore; Edited by Kirti Pandey)