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Sept 23 Some U.S. stocks on the move on Monday:
US STOCK FUTURES OFF AHEAD OF FED SPEAKERS
U.S. stocks opened mixed as traders balanced upbeat data
from Germany and China with angst about the timing of Federal
Reserve tapering as more top Fed officials took to the speakers'
circuit. The Dow Jones industrial average was down 0.07
percent, the S&P 500 was down 0.27 percent and the Nasdaq
Composite was up 0.3 percent.
** APPLE INC, $494.10, up 5.7 pct (9:47 a.m. ET)
Apple Inc said it sold 9 million iPhone 5s and
iPhone 5c models in their first three days on the market, the
most successful iPhone launch ever.
** CIRRUS LOGIC INC, $23.67, up 7.5 pct (09:36 a.m.
** RF MICRO DEVICES, $5.82, up 6 pct
** TRIQUINT SEMICONDUCTOR INC, $8.46, up 4 pct
** AVAGO TECHNOLOGIES LTD, $42.41, up 2 pct
** QUALCOMM INC, $70.01, up 1.4 pct
** SKYWORKS SOLUTIONS INC, $26.00, up 1.7 pct
Shares of Apple component suppliers also rose on the news.
** PANDORA MEDIA INC, $25.53, down 5 pct (10:01 a.m.
The internet radio company's shares fell after record sales
of iPhones by Apple, which launched iTunes radio in September
with the iOS 7. B. Riley & Co analyst Sameet Sinha said the
adoption of iOS 7 is also happening faster than he expected and
said it was pressuring Pandora's stock.
** BLACKBERRY LTD, $8.44, down 3 pct (9:46 a.m. ET)
The smartphone maker's plan to retreat from the consumer
market in favor of its traditional strength serving businesses
and governments is widely seen as a desperate move that industry
watchers warn will only accelerate its downward spiral.
Brokerage National Bank Financial, which believes that any
recovery is very unlikely for BlackBerry, cut its price target
to $5 from $8, valuing the company at about $2.6 billion.
** ISIS PHARMACEUTICALS INC, $39.13, up 9 pct
(09:54 a.m. ET)
The company said on Saturday its experimental drug
substantially reduced blood fat in a mid-stage study on patients
with familial chylomicronemia syndrome, a rare genetic disorder
in which the body does not break down fats
BMO Capital Markets and Stifel Nicolaus raised their target
prices on the stock on Monday.
** GENERAL ELECTRIC CO, $24.27, up 1 pct (9:46 a.m.
The industrial conglomerate signed three contracts to sell
about $2.7 billion in power equipment to Algeria, as the North
African country seeks to massively increase its generation
GE shares are poised to outperform the broad stock market,
after lagging behind for more than a decade, as its business
outgrows the economies where it operates, financial newspaper
Barron's said on Sunday.
** GROUPON INC, $12.00, down 5 pct (9:45 a.m. ET)
The daily discount deals provider failed to persuade a
federal judge to dismiss a lawsuit accusing the company of
misleading investors about its financial prospects and internal
controls before it went public in November 2011.
** CITIGROUP INC, $49.82, down 3 pct (9:44 a.m. ET)
The third-largest U.S. bank had a significant drop in
trading revenue during the third quarter which could hurt the
bank's earnings, the Financial Times reported on Sunday, citing
people familiar with conversations between investors and the
** MOTORCAR PARTS OF AMERICA INC, $11.40, up 8 pct
(09:46 a.m. ET)
Brokerage Craig-Hallum started coverage of the autoparts
maker's stock with a "buy" rating, according to
** YONGYE INTERNATIONAL INC, $6.22, up 4 pct (9:43
The China-based crop nutrient maker said it has entered into
an agreement to be taken private by a consortium led by its top
shareholder Full Alliance International Ltd, valuing the company
at about $340 million.
** APPROACH RESOURCES INC, $25.59, up 4 pct (9:42
The oil and gas company should get a closer look for its
operations in the Texas Permian Basin, where land values
indicate that its shares could be worth at least 50 percent
more, Barron's reported in its Sept. 23 edition.
** AGRIUM INC, $88.28, down 2 pct (9:42 a.m. ET)
The Canadian fertilizer company warned that its potash
volumes are expected to be about 30 percent lower than normal in
the current quarter.
** JOURNAL COMMUNICATIONS INC, $7.76, up 2 pct (9:39
The broadcast company said on Friday it ended a two
month-long programming dispute with Time Warner Cable,
making available its stations in Milwaukee, Green Bay/Appleton,
Omaha, Nashville and Palm Springs to Time Warner Cable's
** J.C. PENNEY CO INC, $12.78, down 1 pct (9:43 a.m.
The retailer is looking to raise more money, possibly
through a combination of debt and equity, according to a source
familiar with the matter.
(Compiled by Avik Das in Bangalore; Editing by Don Sebastian)