September 11, 2013 / 2:31 PM / 4 years ago

MARKET PULSE-Apple, Harvest Natural, Ventrus, Himax, Polycom

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Sept 11 (Reuters) - Some U.S. stocks on the move on Wednesday:


U.S. stock index futures edged lower, as the S&P 500 appeared set to pause after six straight days of gains, after President Barack Obama pledged to explore Russia’s diplomatic plan to remove chemical weapons from Syria. S&P 500 futures and Dow Jones industrial average futures were flat, while Nasdaq 100 futures lost 12.75 points.

** APPLE INC, $469.22, down 5 pct (9:59 a.m. ET)

The higher-than-expected price of Apple’s new iPhone eased worries about gross margins, while arousing concerns the company was not being aggressive enough in its fight against Google Inc’s market-dominating Android operating system.

** CIRRUS LOGIC INC, $21.99, down 5 pct (10:03 a.m. ET)

** QUALCOMM INC, $68.04, down 3 pct

Shares of Apple suppliers came under pressure due to lukewarm response to the new plastic-backed iPhone 5C in China, which turned out to be costlier than thought.

** HARVEST NATURAL RESOURCES INC, $5.29, up 27 pct (9:58 a.m. ET)

The oil and natural gas producer said it was in exclusive talks to sell itself to Argentina’s Pluspetrol in a deal valued at about $373 million including debt after struggling to fund its exploration activities.

** OVASCIENCE INC, $9.86, down 31 pct (9:56 a.m. ET)

The developer of infertility treatments said it plans to suspend enrollment in a U.S. study testing its lead product after regulators sought an application for the product’s approval.

** VENTRUS BIOSCIENCES INC, $3.17, up 23 pct (9:56 a.m. ET)

The drugmaker said its experimental cream for the treatment of anal fissures was safe and well-tolerated in two dermal safety studies. The drug, VEN307, is applied perianally to treat pain related to fissure.

** POLYCOM INC, $10.64, up 7 pct (10:23 a.m. ET)

The videoconferencing company authorized the repurchase of $400 million of its outstanding common stock. The company said it expected to fund the program with $150 million in cash and a new $250 million term loan.

** HIMAX TECHNOLOGIES INC, $9.04, up 7 pct (9:53 a.m. ET)

Brokerage Northland Securities Inc started coverage on the Taiwanese chipmaker’s stock with an “outperform” rating as it believes the company will benefit from growth in the small and medium display driver market, given the strength in smartphone and tablet sales. Himax makes chips used in flat panel displays and display drivers.

** COLDWATER CREEK INC, $2.10, down 23 pct (9:49 a.m. ET)

The women’s apparel retailer’s adjusted loss widened 18 percent in the second quarter as increased promotional activity pressured margins but failed to stimulate sales.

** SYNNEX CORP, $56.77, up 18 pct (9:48 a.m. ET)

The hardware distributor will acquire IBM Corp’s worldwide customer care business process outsourcing operations for $505 million.

** GLAXOSMITHKLINE PLC, $51.01, up 1 pct (9:48 a.m. ET)

** THERAVANCE INC, $39.11, up 4 pct (9:52 a.m. ET)

A federal advisory panel recommended approval of GlaxoSmithKline’s new drug to treat chronic obstructive pulmonary disease (COPD), but suggested the company be required to conduct further safety studies once the drug is approved. GSK is developing the product with Theravance.

** UMB FINANCIAL CORP, $53.98, down 3 pct (9:55 a.m. ET)

The financial services company priced the public offering of 3.9 million shares at $54 apiece, below the stock’s Tuesday close, to raise $210.6 million.

** XOOM CORP, $32.45, up 6 pct (9:54 a.m. ET)

The digital money transfer company priced a follow-on offering at $30.50 per share, slightly below the stock’s Tuesday close. The company increased the size of the offering to 4.4 million shares from 3.7 million. About 3 million shares are being offering by the company.

** US AIRWAYS GROUP, $17.69, down 2 pct (9:46 a.m. ET)

US Airways defended its proposed merger with American Airlines on Tuesday, arguing that the deal would create $500 million in savings to consumers annually by building a stronger competitor to Delta Air Lines Inc and United Continental .

** BLACKBERRY LTD, $10.68, down 2 pct (9:45 a.m. ET)

Struggling smartphone maker BlackBerry cut several dozen jobs from its U.S. sales team on Monday, the Wall Street Journal reported, citing people familiar with the matter. The layoffs are part of rolling job cuts that have been ongoing for several weeks.

** YINGLI GREEN ENERGY HOLDING CO, $6.07, up 3 pct (9:43 a.m. ET)

The China-based solar panel maker said it would supply about 28 megawatt of solar panels to a Chinese utility. (Compiled by Varun Aggarwal; Editing by Don Sebastian)

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