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U.S. stocks rose on Tuesday, underpinned by a slew of sturdy
corporate results, as the market regained its footing following
its largest selloff in months a day earlier. The Dow Jones
industrial average was up 0.51 percent at 15,451.86, the
S&P 500 was up 0.81 percent at 1,756.03 and the Nasdaq
Composite was up 0.88 percent at 4,032.
** MICROSOFT CORP, $36.47, -0.03 pct
The world's largest software maker named 22-year company
veteran Satya Nadella as its next chief executive officer on
Tuesday, ending a protracted search for a new leader after Steve
Ballmer announced his intention to retire in August. Nadella,
who led the creation of Microsoft's Internet-based, or "cloud,"
computing services, is only the third CEO in Microsoft's 39-year
history, following co-founder Bill Gates and
** FURIEX PHARMACEUTICALS INC, $104.8, +127.97 pct
Shares of Furiex more than doubled in value after the
company said its experimental drug significantly alleviated
diarrhea and abdominal pain associated with irritable bowel
syndrome in two large late-stage trials.
** MICHAEL KORS HOLDINGS LTD, $90.31, +17.79 pct
The retailer raised its profit forecast for the year after
its trendy handbags and watches proved a hit during the holiday
shopping season. Michael Kors, named after its fashion-designer
founder, shunned the discounts offered by many of its
competitors to record a better-than-expected 77 percent jump in
net income for the quarter just ended.
** CISCO SYSTEMS INC, $21.77, +1.02 pct
** GOOGLE INC, $1,141.25, +0.69 pct
The two companies entered into a patent cross-licensing
agreement, Google's second such deal in as many months. The
cross-licensing agreement is an effective way to help prevent
unnecessary patent lawsuits, the companies said in a statement.
** PLUG POWER INC, $3.1699, +11.62 pct
The fuel cell maker could turn profitable by the end of the
year driven by expansion into Asia, analysts at Cowen and Co
said. They also expect Plug Power to cut costs through dual
sourcing and bulk purchases.
** LIFE PARTNERS HOLDINGS INC, $2.97, +16.02
A federal jury found that the company did not commit fraud
and its Chief Executive Brian Pardo and other officers did not
engage in insider trading as claimed by the U.S. Securities and
The SEC had claimed that Life Partners intentionally
underestimated the life expectancies of the insureds in life
settlements it facilitated.
** YUM BRANDS INC, $72.1, +8.98 pct
The KFC parent reaffirmed on Monday its 2014 profit forecast
amid worries about a resurgent bird flu in China, its top market
for sales. Yum forecast earnings per share growth of at least 20
percent for 2014.
** J.C. PENNEY CO INC, $5.08, -10.56 pct
The company reported a modest rise in quarterly comparable
sales but gave no details on its gross profit margin, leading
Wall Street analysts to conclude the department store operator
had to resort to bigger discounts during the holiday season.
** GAP INC, $37.89, +1.72 pct
UBS raised its rating on the teen apparel retailer's stock
to "buy" from "neutral," citing increased square footage growth
at its stores, strong e-commerce sales and good exposure to
"We look for GPS to deliver 15 percent plus earnings per
share growth over the next 3 years and potentially over $5 of
EPS in 2017," analyst Roxanne Meyer wrote in a note, raising her
price target on the stock to $50 from $41.
** XYLEM INC, $36.29, +10.64 pct
The provider of water and wastewater applications equipment
reported fourth-quarter results that beat analysts' average
estimate and forecast FY2014 earnings to be $1.85 to $2.00 per
share on revenue of $4 billion. Analysts on average were
expecting earnings of $1.91 per share on revenue of $3.94
billion, according to Thomson Reuters I/B/E/S. The company also
increased its quarterly dividend by 10 percent.
** UBS AG, $20.36, +5.93 pct
The Swiss bank raised its dividend and increased
bonuses for bankers by nearly a third after it returned to a
fourth-quarter profit, reaping the benefits of a revamp of its
investment banking business.
** TAKE-TWO INTERACTIVE SOFTWARE, $17.07, -9.68 pct
The video game publisher raised its full-year outlook again
after smash hits "Grand Theft Auto V" and "NBA 2K14" helped it
post a better-than-expected third-quarter revenue. However, the
company gave a weaker-than-expected March quarter forecast.
Wedbush and Credit Suisse cut their ratings on the stock.
** AOL INC, $49.62, +5.87 pct
Asset management company Iridian Asset Management disclosed
a 9.3 percent stake in the media company.
** PFIZER INC, $31.39, +2.58 pct
Jefferies analysts raised their rating on the company's
stock to "buy" from "hold," a day after the company said its
breast cancer drug succeeded in a mid-stage study.
The analysts said the data from the study could be
sufficient for Pfizer to file for approval and launch the drug,
palbociclib, by the end of the year. They said that corporate
reorganization would be the ultimate driver of Pfizer's share
price in the near- to mid-term.
** DICE HOLDINGS INC, $7.15, +6.88 pct
The operator of career websites reported
better-than-expected revenue for the fourth quarter, mainly due
to growth in its finance segment.
Dice operates eFinancialCareers.com, aimed at recruiting
workers in the financial sector.
** PEREGRINE SEMICONDUCTOR CORP, $5.55, -16.54 pct
At least four brokerages cut their price targets on the
radio frequency chipmaker's stock after the company forecast
first-quarter revenue below analysts' expectations and reported
lower-than-expected revenue for the fourth quarter.
** BROWN & BROWN INC, $28.34, -7.63 pct
The insurance broker reported weaker-than-expected results
for the fourth quarter as its investment income fell and
expenses rose due to higher employee compensation and benefits.
** RGS ENERGY, $3.855, +7.38 pct
The solar power company said it had formed a joint venture
with Altus Power America Management, a company that invests in
solar power projects, to develop and finance up to $150 million
of commercial solar projects.
** WADDELL & REED FINANCIAL INC, $64.97, +5.56 pct
The asset manager reported better-than-expected results for
the fourth quarter, helped by a 27 percent rise in investment
** ADVENT SOFTWARE INC, $29.54, -3.50 pct
Brokerage Sandler O'Neill cut its price target on the
accounting software maker's stock after the company forecast on
Monday first-quarter revenue largely below the average analyst
** ENZO BIOCHEM, $3.24, +17.82 pct
Craig-Hallum has initiated coverage on the diagnostics
company's stock with a "buy" rating and a price target of $5.50,
according to Streetinsider.com.
** ITAU UNIBANCO HOLDING SA, $12.98, +7.81 pct
** BANCO BRADESCO SA, $10.73, +4.98 pct
** BANCO SANTANDER BRASIL SA, $4.7, +4.68 pct
Rising borrowing costs, declining defaults and an unexpected
jump in loan disbursements drove record profit for Itau Unibanco
in the fourth quarter, even after expenses at Brazil's largest
private-sector bank exceeded expectations.
Shares in smaller rivals, including Banco Bradesco and Banco
Santander, also got a lift from Itau's results.
** REDHILL BIOPHARMA LTD, $12.87, -3.96 pct
The U.S. Food and Drug Administration rejected a migraine
drug made by Israel's RedHill Biopharma and Canada's
** W.R. GRACE & CO, $95.98, +4.01 pct
The specialty chemicals maker said on Monday that it emerged
from bankruptcy after more than 12 years.
Grace filed for Chapter 11 protection in 2001, making it one
of the longest bankruptcies in U.S. history, after an asbestos
leak at one of its mines led to a slew of lawsuits.
Also, the company's board authorized on Tuesday a share
buyback program of up to $500 million, expected to be completed
over the next 12-24 months.
** BLACKROCK INC, $289.18, +0.97 pct
The company's iShares, the largest U.S. provider of
exchange-traded funds, is launching a new set of currency-hedged
ETFs on Tuesday as it looks to target investors interested in
international equity exposure but concerned about potential
losses from a rising U.S. dollar.
** INTEGRATED DEVICE TECHNOLOGY INC, $10.435,
The chip-component maker reported a better-than-expected
profit on Monday and said it was pursuing a sale of its high
speed data converter business.
Wedbush raised its price target on the company's stock to
$10 from $9.
** ENTEGRIS INC, $11.475, +11.62 pct
** ATMI INC, $33.78, +25.44 pct
Entegris said it would buy ATMI for $1.15 billion, bringing
together two key suppliers of high-purity materials and
packaging systems used in the manufacture of semiconductors.
Entegris's offer of $34 per share represents a premium of 26
percent to ATMI's closing price of $26.93 on the Nasdaq on
** LIONBRIDGE TECHNOLOGIES INC, $6.86, +29.43 pct
The translation software maker reported better-than-expected
quarterly results and said it secured multi-year contracts with
** ZYNGA INC, $4.58, +2.00 pct
UBS raised its rating on the game maker's stock to "buy"
from "neutral," saying Zynga's core operations had begun to
stabilize under the new management team and that its $527
million acquisition of mobile game developer NaturalMotion would
result in more scale and innovation at Zynga.
** ASBURY AUTOMOTIVE GROUP INC, $49.01, +7.90 pct
The U.S. auto dealer posted a better-than-expected quarterly
profit as an improving economy and easier availability of loans
encouraged more Americans to buy cars.
** ARM HOLDINGS, $43.8, -4.39 pct
The British chip designer said a slowdown in demand
for Apple and Samsung smartphones was
behind a smaller-than-expected rise in fourth-quarter royalty
** FIDELITY NATIONAL INFORMATION SERVICES, $50.93,
The banking and payments technology provider said its board
had authorized a new share repurchase program of up to $2
billion, effective through Dec. 31, 2017.
The new program replaces the previous $1 billion program
under which about $174 million is outstanding.
The company also reported a 13 percent rise in its
** DISH NETWORK CORP, $56.58, +3.63 pct
An investment vehicle owned by the company's Chairman
Charles Ergen is joining an existing lender group to extend $33
million in financing to bankrupt wireless company LightSquared,
court filings show.
** CEPHEID, $49.28, -1.20 pct
The medical device maker said it planned to offer $250
million of convertible senior notes due 2021.
The interest rate, conversion rate, offering price and other
terms will be determined through talks between Cepheid and the
initial purchasers, the company said.
** WESTELL TECHNOLOGIES INC, $3.83, +4.93 pct
The company, which provides equipment for telecom service
providers, reported a better-than-expected profit for the third
quarter on Monday, helped by strong demand for its wireless
(Compiled by Natalie Grover in Bangalore; Editing by Kirti