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Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

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Share Price: 1,773.50
Bid: 1,772.00
Ask: 1,772.50
Change: 12.50 (0.71%)
Spread: 0.50 (0.028%)
Open: 1,770.00
High: 1,776.00
Low: 1,766.00
Prev. Close: 1,761.00
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MARKET PULSE-Amerisource, Affymax, Sarepta, BofA, Ebay, Lululemon

Tue, 19th Mar 2013 13:53

March 19 (Reuters) - Some U.S. stocks on the move onTuesday:

(For more market insights, including options activity, click on ; for The Day Ahead newsletter http://link.reuters.com/mex49s; for the Morning News Call newsletter, http://link.reuters.com/faq23t)

FUTURES GAIN BEFORE DATA, FOCUS SHIFTS FROM CYPRUS

U.S. stocks opened higher on Tuesday after a two-day drop,helped by signs that the U.S. housing market recovery isgathering pace, as investors shrugged off developments in Cyprusthat may lead the country into default. The Dow Jones industrialaverage gained 38.89 points, or 0.27 percent, theStandard & Poor's 500 Index rose 4.26 points, or 0.27percent, and the Nasdaq Composite Index added 10.20points, or 0.32 percent.

** AMERISOURCEBERGEN, $51.32, up 6 pct (0950 ET)

** WALGREEN CO, $45.15, up 6 pct (0950 ET)

** CARDINAL HEALTH INC, $42.95, down 7 pct (0950 ET)

Drug distributor AmerisourceBergen signed a 10-yeardistribution deal with Walgreen Co and partner Alliance BootsABN.UL that it said would deliver $28 billion in incrementalrevenue in fiscal 2014 and give the pharmacy chains the right toacquire up to 23 percent of the company. Shares ofAmerisourceBergen rival, Cardinal Health, fell on news of thecontract.

** AFFYMAX INC, $1.23, down 58 pct (0949 ET)

The drugmaker said on Monday that it was considering sellingitself or filing for bankruptcy among a range of alternatives,as it struggles to stay afloat following the recent recall ofits sole commercial product, anemia drug Omontys.

** HARVEST NATURAL RESOURCES INC, $3.19, down 42 pct(0948 ET)

The oil and gas producer said it had identified someaccounting errors and it might have to restate results for someperiods in the last three years.

Harvest Natural also estimated a full-year loss of about$9.6 million, or 26 cents per share, for 2012.

** MER TELEMANAGEMENT SOLUTIONS LTD, $3.32, down 34pct (0948 ET)

The company, which provides products and services to managetelecommunications expenses, said one of its customers, SimpleMobile, intends to migrate its hosted billing services to itsown platform.

MTS had last year entered into a one-year agreement with thecompany, a part of TracFone, to provide hosted billing servicesfor minimum monthly payments of $300,000 for 2013. "It isunlikely that we will receive significant revenues from TracFonein 2014," MTS said in a release.

** GMX RESOURCES INC, $3.55, down 11 pct (0947 ET)

The oil and gas producer reiterated that it may seekbankruptcy protection if it is not able to reach a consensualalternative for restructuring its balance sheet. The companyalso said it had not been able to file its annual report as ithad been focused on discussions with lenders and findingfinancing alternatives.

** NPS PHARMACEUTICALS INC, $10.65, up 18 pct (0947ET)

NPS has regained full worldwide rights to a pair of drugsfrom Japan's Takeda Pharmaceutical Co in exchange for$50 million in NPS common shares, the companies announced onTuesday.

Under the deal, NPS will have worldwide rights to developand sell teduglutide, a treatment for a rare condition calledshort bowel syndrome, sold in Europe as Revestive and in theUnited States as Gattex, and for an osteoporosis drug sold inEurope under the brand name Preotact.

** DSW INC, $60.86, down 9 pct (0947 ET)

The footwear retailer said it was off to a slow start in2013 as it experienced weak sales trends in the first six weeksof the year, prompting it to forecast flat same-store sales forthe first half of the year. The company also postedfourth-quarter results that missed Wall Street expectations.

** LULULEMON ATHLETICA INC, $62.73, down 5 pct(0946 ET)

The Canadian company is pulling shipments of unexpectedlysheer women's yoga pants from its stores, in a move the athleticclothing maker said would hurt its bottom line.

** HOSPITALITY PROPERTIES TRUST, $25.82, down 5 pct(0946 ET)

The owner of hotels and travel centers said it was raisingmoney through an offering of 10 million shares to pay down debt.

** SKULLCANDY INC, $5.58, up 5 pct (0945 ET)

The maker of trendy headphones named the head of Nike Inc's Nike+ Digital Sport as its chief executive, as it dealswith the loss of a major customer and looks to rein in costsrelated to international expansion.

** CRESTWOOD MIDSTREAM PARTNERS LP, $23.73, down4.6 pct (0945 ET)

The company, which transports natural gas and relatedliquids, said it has started a public offering of 4.5 millioncommon units and will use the proceeds to repay debt.

** HOLLY ENERGY PARTNERS LP, $40.19, down 5 pct(0944 ET)

The company, which operates petroleum product and crudepipelines, said it plans to offer 1.87 million common units anduse the proceeds to repay debt.

** SAREPTA THERAPEUTICS INC, $34.20, up 3 pct (0944ET)

Deutsche Bank analyst Robyn Karnauskas initiated coverage onthe company with a "buy" rating, saying its experimental drug totreat Duchenne muscular dystrophy, a genetic disorder thatcauses progressive muscle loss, is likely to get U.S. approvalby mid-2015.

"We see eteplirsen as having a better safety profile versusits competitor Drisapersen that will allow it to take majorityshare," Karnauskas wrote in a note to clients. Drisapersen isbeing tested by GlasxoSmithKline Plc in a late-stagetrial, while eteplirsen is in a mid-stage study.

** JUNIPER NETWORKS INC, $19.20, down 5 pct (0943ET)

Goldman Sachs downgraded the network equipment maker to"sell" from "neutral", saying Alcatel-Lucent and Cisco SystemsInc are expected to take market share from Juniper.

"We see continued share loss to Palo Alto Networks and others, as Juniper's products still have certain gapscompared to the competition, such as the reporting features,"analyst Simona Jankowski wrote in a note.

The company's expected transition to a software model mayhave a cannibalistic effect as Juniper begins to sell softwarelicenses on an as-needed basis as opposed to the traditionalmodel of up-front hardware sales, the note said. The brokeragealso cut its price target on the stock to $17 from $21.

** EBAY INC, $50.94, up 1.6 pct (0943 ET)

Cantor Fitzgerald upgraded the e-commerce company's stock to "buy" from "hold", saying it expects the number of activeusers of its online marketplace to increase as it adds brandedretailers and other features.

"We expect to see a positive impact on growth ininternational markets as many of these changes are rolled outoutside the U.S.," analyst Youssef Squali said in a note. Theimpact of the new "digital wallet" fee on the company's PayPalbusiness was also likely to be "manageable", Squali added.

** BANK OF AMERICA CORP, $12.75, up 1.5 pct (0942ET)

Bank of America's shares recovered slightly after Cyprus'sgovernment proposed on Tuesday to spare small savers from a taxon bank deposits, in a last-minute attempt to win parliamentarybacking for an international bailout and avoid a default and abanking collapse.

** CHESAPEAKE ENERGY CORP, $21.72, down 2 pct (0941ET)

The second-largest U.S. natural gas company gave moredetails about its plan to raise $2.3 billion by selling seniornotes. It will use the proceeds to buy some of its debt due 2013and 2018.

** INTERSECTIONS INC, $9.27, down 16 pct (0939 ET)

The provider of indentity theft protection said on Mondayits full-year revenue will fall as much as 15 percent asregulatory scrutiny causes financial services companies to pullback on marketing its products.

** FUTUREFUEL CORP, $12.25, down 10 pct (0939 ET)

The chemicals and biofuels maker posted a fourth-quarterprofit that missed analysts' estimates as revenue from two ofits largest customers fell due to the expiration of a$1-per-gallon tax credit for biodiesel.

** USA MOBILITY INC, $12.32, down 3 pct (0938 ET)

The paging and wireless services provider on Monday delayedthe reporting of its fourth-quarter and full-year 2012 results,citing a "material weakness" related to its software revenuerecognition process.

The company did not provide a new date for reporting itsfourth-quarter and full-year results.

** CHIQUITA BRANDS INTERNATIONAL INC, $7.73, up 5pct (0938 ET)

The fruit and vegetable distributor's chief executive, EdLonergan, revealed in a regulatory filing that he had acquired50,800 shares of the company for about $367,000. The priceimplies an average purchase value of $7.22 per share. (Compiled by Pallavi Ail in Bangalore; Editing by SreejirajEluvangal)

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Jefferies upgrades GSK to 'buy', cuts AstraZeneca to 'hold'

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