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MARKET PULSE-Primus telecommunications, Verizon, Morgan Stanley

Thu, 18th Apr 2013 18:09

(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)

April 18 (Reuters) - Some U.S. stocks on the move onThursday:

WALL ST SLIDES FURTHER, UPTREND IN PERIL

Stocks fell after data showed signs of slower growth aheadfor the U.S. economy, with traders zoning in on technicals toanticipate the market's next move. The Dow Jones industrialaverage fell 52.19 points or 0.36 percent, to 14,566.40,the S&P 500 lost 6.82 points or 0.44 percent, to 1,545.19and the Nasdaq Composite dropped 26.03 points or 0.81percent, to 3,178.64.

** VERIZON COMMUNICATIONS INC, $51.28, up 3.5 pct(1339 ET)

The telephone company reported a higher-than-expectedfirst-quarter profit, driven by strength in its wirelessbusiness.

** MORGAN STANLEY, $20.51, down 4.5 pct (1339 ET)

The sixth-largest U.S. bank by assets said revenue fromcommodities trading fell sharply in the first quarter and it wasworking to dispose of nonessential commodity businesses.

** OVERSTOCK.COM INC, $15.23, up 33 pct (1357 ET)

The discount e-retailer reported a 19 percent jump inrevenue helped by higher average order size. Gross profit in thequarter also improved due to a shift to higher margin home andgarden products, and lower warehousing costs, in turn boostingprofit.

** PRIMUS TELECOMMUNICATIONS GROUP INC, $12.25, up24 pct (1209 ET)

The advanced communication solutions provider said onWednesday it sold its data center operations in Canada,Blackiron Data ULC, to Rogers Communications Inc for about C$200million ($195.15 million).

Primus provides domestic and international long-distance,Internet service, and Voice over Internet Protocol (VOIP). Thestock, trading nearly ten times its average 10-day volume, wasthe top percentage gainer on the New York Stock Exchange at 1209ET.

** SINOVAC BIOTECH LTD, $3.79, down 8.2 pct (1357ET)

The pharmaceutical company said fourth-quarter revenue fellto $19 million, from $21.1 million a year ago, as the companyrecorded no sales of its H1N1 flu vaccine in the quarter endedDec. 31.

** NORTHWEST BIOTHERAPEUTICS INC, $3.76, down 3.6pct (1356 ET)

The company entered into an agreement with ahealthcare-dedicated institutional investor for a registereddirect placement of $10 million of its common stock. Northwestalso said it will issue warrant coverage of 40 percent to theinvestor to buy shares of common stock at an exercise price of$4.29 per share.

** PEABODY ENERGY CORP, $20.57, up 8 pct (1356 ET)

** ARCH COAL INC, $5.04, up 11 pct (1404 ET)

The world's largest private sector coal miner reported asmaller-than-expected first-quarter loss on Thursday as itpushed to cut costs in a tough market, but revenue fell justshort of analysts' expectations.

Shares of peer Arch Coal were also up on the news.

** TAMINCO CORP, $14.25 (1215 ET)

The company's shares fell as much as 8 percent in theirtrading debut, valuing the company at nearly $900 million, wellbelow the price Apollo Global Management LLC paid toacquire the chemical maker from CVC Capital Partners in 2011.

** PEPSICO INC, $81.66, up 4 pct (1356 ET)

The maker of Pepsi sodas, Tropicana juices, Frito-Lay snacksand Quaker oatmeal reported better-than-expected first-quarterearnings, as price increases helped margins.

** GREENHILL & CO INC, $46.20, down 10 percent (1355ET)

The boutique investment bank reported first-quarter resultson Wednesday that widely missed estimates due to an investmentloss of $1.9 million compared to an investment gain of $9.4million in the year-earlier quarter.

At least four brokerages cut their price target on thecompany' stock.

** EAST WEST BANCORP, $23.08, down 4 pt (1354 ET)

The bank reported quarterly results on Wednesday that beatestimates, but net interest margin declined due to reducednon-covered loan portfolio yields.

BMO Capital Markets cut its rating on the company's stockto "market perform" from "outperform," while Sterne Ageedowngraded it to "neutral" from "buy" and lowered its pricetarget to $25 from $26.

** ESCO TECHNOLOGIES INC, $35.54, down 5.3 pct (1219ET)

Brokerage Oppenheimer & Co downgraded the engineeredproducts maker to "perform," saying project delays in the USwater market and fewer COOP deliveries lower Esco's near-termoutlook.

Wedbush Securities cut its target price to $48 from $50.

** SELECT COMFORT CORP, $18.04, up 3 pct (1357 ET)

Specialty mattress maker Select Comfort said it would revertto its earlier marketing strategy after a shift in advertisingreduced exposure of its products to already cautious customersand hit sales.

"While management clearly took their eye off the ball on themarketing, they are aggressively working to rectify thesituation and are seeing improvements in the business as aresult," Joan Storms of Wedbush Securities wrote in a note.

** UNIVERSAL FOREST PRODUCTS INC, $37.03, up 8.6pct (1353 ET)

The maker of wood and wood-alternative products reported itsfirst-quarter profit that beat analysts' estimates withincreased sales in each of its units due to 42.9 percentincrease in the lumber market.

** J.C. PENNEY, $15.03, up 1.7 pct (1259 ET)

** MACYS INC, $43.12, down 1.2 pct (1259 ET)

New York appeals court judge, Justice Richard Andrias, ruledthat J.C. Penney could sell Martha Stewart goods under a "JCPEveryday" label for now, pending an appeal by Macy's.

** COINSTAR INC, $54.47, down 3.5 (1353 ET)

Brokerage ITG Research lowered its revenue estimates for theoperator of Redbox video rental kiosks, citing weak March salestrends, the flyonthewall.com reported.

** DANAHER CORP, $58.22, down 2.5 pct (1353 ET)

The industrial and healthcare conglomerate's first-quarterprofit missed analysts' estimates as operating margin at itslargest business, life sciences & diagnostics, fell about 60basis points. The company also forecast second-quarter earningsbelow analysts' estimates.

** CORE LABORATORIES NV, $137.44, up 9 pct (1351 ET)

The oilfield services company reported its first-quarterprofit on Wednesday that topped analysts' expectations, asrevenue from its production enhancement operations, which dealswith increasing oilfield recovery factor, rose 11 percent.

** NOBLE CORP, $36.26, up 4 pct (1351 ET)

The owner of the world's third-largest offshore drillingfleet said Royal Dutch Shell Plc was in talks to extendits contract to use the Noble Discoverer beyond February 2014,underlining its long-term plans for the offshore Arctic.

GOLD STOCKS

** RANDGOLD RESOURCES LTD, $70.78, up 6 pct (1351ET)

** NEWMONT MINING CORP, $32.76, up 1.3 pct (1351 ET)

** ANGLOGOLD ASHANTI LTD, $17.90, up 2 pct (1351 ET)

** BARRICK GOLD CORP , $17.78, up 1 pct(1351 ET)

** FIRST MAJESTIC SILVER INC, $11.62, up 6 pct (1351ET)

** YAMANA GOLD INC, $11.53, up 4 pct (1351 ET)

** KINROSS GOLD CORP, $5.30, up 6 pct (1351 ET)

Gold rallied on Thursday in Europe after volatile Asiantrade saw prices slide towards two-year lows hit earlier in theweek, with strong physical buying set against exits fromexchange-traded funds. The sharp drop in prices has triggered aspate of buying in gold bars, coins and nuggets in Asia, whileU.S. gold coins have flown off dealers' shelves.

** EXACT SCIENCES CORP, $7.95, down 20.2 pct (1348ET)

The company said its molecular screening test for colorectalcancer met its goals in a large late-stage study, detecting thedisease in more than 90 percent of patients, but its sharesplummeted as much as 30 percent as the results were not asrobust as some were expecting.

** TRAVELZOO INC, $24.30, up 12 pct (1348 ET)

The online travel deals company reported a 7 percent rise infirst-quarter revenue, with its Europe travel business growing14 percent.

** THERAVANCE INC, $32.07, up 14.5 pct (1348 ET)

An advisory panel to the U.S. Food and Drug Administrationhas recommended that the agency approve an experimentaltreatment for smoking-related lung damage made by Britain'sGlaxoSmithKline Plc and Theravance.

** NOKIA OYJ , $3.17, down 11.5 pct (1316ET)

A big fall in sales of the company's basic phonesovershadowed a stronger performance from its Lumia smartphonesin the first quarter, and it said it expected operating marginsto deteriorate.

Chief Executive Stephen Elop said tougher competition wasthe main reason behind the fall in sales of regular mobilephones.

** PHILIP MORRIS INTERNATIONAL INC, $91.67, down 2.5pct (1347 ET)

The company, which sells Marlboro, reported first-quarterprofit that missed estimates as cigarette shipment volumesdeclined 6.5 percent.

** ULTRATECH INC, $31.70, down 13 pct (1405 ET)

The company, which manufactures chip-making equipment,reported lower-than-expected quarterly results.

** PRIVATEBANCORP INC, $18.80, up 8 pct (1347 ET)

The lender reported higher-than-expected quarterly profit,helped by mortgage banking and syndication fee revenue.Non-interest income rose 11 percent to $30.5 million.

** UNIPIXEL INC, $33.24, down 12.7 pct (1346 ET)

The LCD film maker said its offering of 1.2 million shareswas priced at $32 per share, a 16 percent discount to thestock's closing price on Wednesday.

** PPG INDUSTRIES INC, $140.16, up 6 pct (1345 ET)

The protective and decorative coatings maker reported aquarterly profit that beat analysts' estimates, helped by astrong demand in North America and Asia, and said it expects thepositive momentum in these geographies to continue in the secondquarter.

PPG also approved its quarterly dividend to 61 cents pershare from 59 cents per share.

** UNION PACIFIC CORP, $142.91, up 4.3 pct (1345 ET)

The No.1 U.S. railroad reported a strong first quarter ashigher freight rates offset a decline in coal shipments, and thecompany said it expects to ship more of the commodity in thecurrent quarter.

HEALTH INSURER STOCKS

** UNITEDHEALTH GROUP INC, $60.05, down 3 pct (1344ET)

** HUMANA INC, $72.49, down 3 pct (1344 ET)

** AETNA INC, $54.52, down 1.4 pct (1344 ET)

** WELLCARE HEALTH PLANS INC, $57.53, down 3 pct(1344 ET)

** MOLINA HEALTHCARE INC, $32.89, down 1 pct (1344ET)

** UNIVERSAL AMERICAN CORP, $8.78, down 2.2 pct(1344 ET)

** CENTENE CORP, $44.52, down 1.3 pct (1344 ET)

** WELLPOINT INC, $67.67, down 2 pct (1344 ET)

Shares of U.S. health insurers were down, a day after thelargest U.S. health insurer UnitedHealth reported bleakfirst-quarter profit due to lower government payments for itsprivate Medicare services and prescription plans for olderAmericans, and cut its 2013 revenue expectation.

** ALLISON TRANSMISSION HOLDINGS INC, $21.94, up3.7 pct (1341 ET)

The maker of fully-automatic transmissions said late onWednesday that investment funds affiliated with Carlyle Group LP and Onex Corp would not proceed with a secondaryoffering of Allison Transmission's common stock due to marketconditions.

** EBAY INC, $52.97, down 5.6 pct (1341 ET)

The e-commerce company gave a disappointing earningsforecast for the second quarter and said Europe was weak,pushing its shares lower in after-hours trade. (Compiled by Aditi Shrivastava; Editing by Joyjeet Das)

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