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MARKET PULSE-Opexa, DR Horton, Virgin Media, AT Cross

Tue, 05th Feb 2013 16:31

Feb 5 (Reuters) - Some U.S. stocks on the move on Tuesday:

WALL STREET REBOUNDS FROM WEAKNESS, DELL TO GO PRIVATE

Stocks rose in early morning trade as investors soughtbargains following the market's worst daily session sinceNovember and more companies reported results that were strongerthan expected. The Dow Jones industrial average was up83.88 points, or 0.60 percent, at 13,963.96. The Standard &Poor's 500 Index was up 9.16 points, or 0.61 percent, at1,504.87. The Nasdaq Composite Index was up 10.80points, or 0.35 percent, at 3,141.97.

** DELL INC, $13.39, up 0.9 pct (1043 ET)

Michael Dell will take the computer company he foundedprivate in a $24.4 billion deal that marks the biggest leveragedbuyout since the financial crisis. He and private equity firmSilver Lake are paying $13.65 per share in cash for the world'sNo. 3 computer maker.

** OPEXA THERAPEUTICS INC, $3.94, up 225 pct (1017ET)

The biopharmaceutical company entered into a licensingagreement with a unit of Merck KGaA to develop anexperimental multiple sclerosis drug for up to $225 million. Itwill receive an upfront payment of $5 million and Merck Seronowill pay an upfront license fee of $25 million to $15 millionfor worldwide development and commercial rights to Opexa's drugTcelna, excluding Japan. Opexa, which had a marketcapitalization of $8.7 million, said Tcelna is being tested inearly-stage and mid-stage studies.

HOMEBUILDERS

** D.R. HORTON INC, $23.16, up 1.3 pct (1049 ET)

** KB HOME, $18.54, down 0.02 pct (1049 ET)

** LENNAR CORP, $40.72, up 0.4 pct (1049 ET)

** PULTEGROUP INC, $19.79, up 0.6 pct (1049 ET)

** RYLAND GROUP INC, $37.83, down 0.6 pct (1049 ET)

** TOLL BROTHERS INC, $35.87, down 1.5 pct (1049 ET)

Barclays cut its rating on the U.S. homebuilding industry to"neutral" from "positive," BUT raised its rating on D.R. Hortonto "overweight" from "equal weight". It cut its rating on thestocks of KB Home and PulteGroup to "equal weight" from"overweight," Toll Brothers to "underweight" from "equal weight"and Ryland to "underweight" from "overweight." The brokerage cutits price target on KB Home to $20 from $21, PulteGroup to $21from $22, Ryland to $35 from $40 and Toll Brothers to $36 from$41. It raised its price target on Lennar to $44 from $43.

** BANK OF AMERICA CORP, $11.78, up 2.6 pct (1050ET)

Guggenheim raised its target price on the stock to $15 from$14.

** BP PLC , $44.16, up 1.26 pct (1109 ET)

The shrinking British oil company's quarterly profit fell,after it sold assets in preparation for what could be itsbiggest oil spill payout when the case comes to trial later thismonth. But it still beat expectations because of one-off taxesrelated to divestments and liability payments. Chief ExecutiveBob Dudley told analysts that the $4 billion upgrade at BP'sIndiana refinery was on target.

** J.P. MORGAN CHASE & CO, $48.31, up 1.3 pct (1051ET)

Guggenheim raised its target price on the stock to $61 from$55. The stock touched a year-high on Tuesdaymorning.

** LIBERTY GLOBAL INC, $66.85, down 3.7 pct (0947ET)

** VIRGIN MEDIA INC , $44.84, up 16 pct(0949 ET)

John Malone's Liberty Global has opened talks with Britain'sVirgin Media over a takeover that would increase the U.S. cablegroup's dominance in Europe and step up a challenge to mediamogul Rupert Murdoch.

** A.T. CROSS COMPANY, $12.15, up 10 pct (0957 ET)

Brokerage Roth Capital raised its rating on A.T. Cross'stock to "buy" from "neutral," according to theflyonthewall.com.The designer of personal and business accessories on Monday saidit is exploring strategic alternatives for its Cross AccessoryDivision, which offers writing instruments and related products.

** COMPUTER SCIENCES CORP, $45.82, up 9 pct (1010ET)

The U.S. technology services provider reported athird-quarter profit well ahead of analysts' expectations asrevenue from its business solutions and services unit jumped 29percent. The company also raised its full-year profit outlookrange by 20 cents per share to between $2.50 per share and $2.70per share, from continuing operations.

** BAIDU INC, $97.50, down 9 pct (0953 ET)

The largest search engine company in China reported itsslowest profit growth since 2009 as competition in the sectorheated up and more users switched to mobile search.

** RUDOLPH TECHNOLOGIES INC, $12.25, down 8.4 pct(0953 ET)

The company reported a fourth-quarter profit below analyst'sexpectations. It reported an adjusted profit of 17 cents pershare, below analysts' expectations of 19 cents per share,according to Thomson Reuters I/B/E/S.

** KCAP FINANCIAL INC, $12.27, down 8.1 pct (0953ET)

The company began a public offering of 4 million shares onMonday.

** ARCH COAL INC, $6.39, down 8 pct (0956 ET)

The second-largest coal miner in the United States byproduction, reported a quarterly loss as prices fell for bothsteel-making and power-generating coal.

** REGAL BELOIT CORP, $78.75, up 7.4 pct (0935 ET)

Electric motor maker Regal Beloit Corp reported abetter-than-expected quarterly profit on higher margins.

** VISHAY INTERTECHNOLOGY INC, $11.82, up 7 pct(1001 ET)

The electronic components maker on Monday reported earningsof 11 cents per share, excluding items, on revenue of $530.6million. This topped analysts' expectations of 8 cents per sharein earnings on revenue of $520.8 million, according to ThomsonReuters I/B/E/S.

** SCIENTIFIC GAMES CORP, $8.835, down 7 pct (1020ET)

Brokerage Deutsche Bank downgraded the lottery and slotmachine maker to "sell" from "hold," saying higher competitionin its core lottery gaming industry will erode profits. Thebrokerage was also negative on Scientific Games' acquisition ofWMS industries due to the relatively steep deal price, coupledwith lower cross-selling opportunities due to a diverse customerbase. Deutsche Bank cut its price target on the company to $6from $7.

** HORIZON PHARMA INC, $2.40, up 6.2 pct (1039 ET)

The drugmaker said it received a patent for its arthritistreatment Duexis from the United States Patent and TrademarkOffice which will expire in 2028. Horizon now has four patentson Duexis.

** YUM BRANDS INC, $60.00, down 6.1 pct (0949 ET)

The parent company of KFC reported a 6 percent drop infourth-quarter sales at established restaurants in China after afood safety scare ensnared some of its chicken suppliers in itstop market.

** REVLON INC, $16.5, up 6 pct (0945 ET)

The cosmetics-maker reported a 9 percent rise in quarterlysales on strong demand for its namesake and SinfulColors brandedcolor cosmetics. The company also said sales in the UnitedStates - its largest market - rose 14 percent, offsettingweakness in Europe.

** FABRINET, $15.35, up 6 pct (1016 ET)

The optical communication components maker on Mondayreported second-quarter results above analysts' estimates.

Brokerages J.P. Morgan Securities and Needham & Co raisedtheir price targets on the company's stock. "Demand for opticalcommunications systems components should grow over the next twoto three years as the communications industry builds out 100Ginfrastructure," JP Morgan analyst Paul Coster wrote in a note.

** KNOLL INC, $17.60, up 6 pct (1002 ET)

The Workplace and residential furnishing maker reportedbetter-than-expected quarterly results, helped by a 15 percentincrease in its office segment revenue.

** ZYNGA INC, $2.70, up 5.5 pct (0950 ET)

BofA Merrill Lynch raised the company's rating to "buy" from"neutral," according to theflyonthewall.com.

** PETROLEO BRASILEIRO SA , $17.14, down 5pct (0950 ET)

The struggling Brazilian state-controlled oil company'squarterly earnings fanned concerns over the management's abilityto turn it around. Debt rose to 2.77 times of EBITDA - above thecompany's own limit of 2.5 times. Exploration costs rose 43percent to 2.15 billion. Petrobras also said in a securitiesfiling on Monday that it changed the way it distributesdividends to holders of common and preferred shares.

** WARNER CHILCOTT PLC, $14.81, up 5 pct (0952 ET)

The U.S. health regulator approved the company's newulcerative colitis product Delzicol.

** ESTEE LAUDER COS INC, $63.88, down 4.6 pct (0951ET)

The cosmetics company reported higher quarterly sales andprofit and reaffirmed its full-year forecast for sales growth,pointing to strong U.S. demand, which is helping counteract weakmarkets like Southern Europe and South Korea.

** ARM HOLDINGS PLC , $43.77, up 4.3 pct(0950 ET)

The British chip designer topped expectations for quarterlyprofit growth as it rode the wave of soaring sales ofsmartphones and tablets, most of which contain its technology.

** ARCHER DANIELS MIDLAND CO, $29.69, down 4.3 pct(0956 ET)

The agribusiness giant reported higher quarterly earnings,boosted by strong global demand for oilseeds.

** REPROS THERAPEUTICS INC, $12.31, up 4 pct (1016ET)

Lazard Capital markets started Repros with a "buy" ratingand a $26 price target saying that a peak into the late-stagestudy for the drug Androxal showed that the drug has a "highprobability of success."

** CARBONITE INC, $10.00, up 4 pct (1019 ET)

The online backup software maker posted asmaller-than-expected quarterly loss as gross margin improved by5 percentage points. Canaccord Genuity raised its stock pricetarget by $3 to $11.

** CIGNA INC, $60.57, up 3.8 pct (0954 ET)

The company struck a $2.2 billion deal with Warren Buffett'sBerkshire Hathaway Inc in which Berkshire will reinsureCigna's risk related to future claims for two annuity businessesCigna has exited.

** NII HOLDINGS INC, $6.59, up 3 pct (0955 ET)

The company, which provides wireless communication servicesunder the Nextel brand, said it expects fourth-quarter revenueof about $1.5 billion, above analysts' expectations of $1.47billion, according to Thomson Reuters I/B/E/S.

** ALLIANT TECHSYSTEMS INC, $65.29, up 3 pct (1030ET)

The defense contractor reported better-than-expectedquarterly results, driven by strong orders, and raised itsfull-year sales outlook.

** ITAU UNIBANCO HOLDING SA , $17.14, up2.8 percent (1109 ET)

Brazil's largest private sector bank will sustain a tightergrip on loans and expenses this year after efforts to put a lidon bad credit bore fruit in the fourth quarter.

** GILEAD SCIENCES INC, $40.71, up 2.8 pct (0951ET)

At least three brokerages - Jefferies & Co, Robert W. Baird& Co and Needham & Co - raised their price target on thebiotechnology company's stock.

** MARVELL TECHNOLOGY GROUP LTD, $9.51, up 2.5 pct(0952 ET)

RBC Capital Markets raised its rating on the chipmaker'sstock to "outperform" from "sector perform", Streetinsider.comreported. The brokerage also raised its stock price target to$13 from $9.

** J.C. PENNEY CO INC, $18.91, down 2.2 pct (0955ET)

The department store chain filed a lawsuit on Monday askinga Delaware judge to declare that it is not in a default of itsbond agreements, protecting nearly $3 billion of debt from beingdue in the coming months.

** WALGREEN CO, $40.87, up 2.1 pct (0952 ET)

The largest U.S. drugstore chain reported a 3.7 percent risein same-store sales in January, as pharmacy sales increased inpart due to a more severe flu season.

** VANDA PHARMACEUTICALS INC, $3.99, up 2 percent(0945 ET)

Lazard Capital Markets began coverage of Vanda stock with a"buy" rating and a price target of $11, saying the company'sdrug Tasimelteon "appears to be the best way to reset the bodyclock." Vanda last month reported positive results from a keystudy that tested Tasimelteon to treat "non-24-hour disorder," arare condition where the body clock does not automatically setto the 24-hour day. Lazard analyst Joshua Schimmer said heexpects Vanda to file for U.S. approval of the drug in mid-2013,helping U.S. sales of the drug to peak above $200 million.

** KELLOGG CO, $59.10, up 1.7 pct (0951 ET)

The world's largest cereal company reported a narrowerquarterly loss, helped by improvements in Latin America andstood by its full-year forecast. (Compiled by Mridhula Raghavan in Bangalore)

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UK dividends calendar - next 7 days

Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
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JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
Tuesday 26 March 
no events scheduled 
Wednesday 27 March 
abrdn Diversified Income & Growth PLCdividend payment date
Thursday 28 March 
Alliance Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Berkeley Group Holdings PLCdividend payment date
BHP Group Ltddividend payment date
BlackRock Energy & Resources Inc Trust PLCex-dividend payment date
BlackRock Sustainable American Income Trust PLCex-dividend payment date
BlackRock Throgmorton Trust PLCdividend payment date
BP PLCdividend payment date
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CT UK Capital & Income Investment Trust PLCdividend payment date
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Gateley Holdings PLCdividend payment date
Genus PLCdividend payment date
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NextEnergy Solar Fund Ltddividend payment date
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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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