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MARKET PULSE-Verizon, Morgan Stanley, Overstock.com, Greenhill

Thu, 18th Apr 2013 15:52

(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:

NASDAQ BRIEFLY OFF 1 PCT, DATA WEIGHS

The Nasdaq Composite briefly fell more than 1 percent afterdata showed future economic activity fell in March for the firsttime in seven months and the pace of factory activity growth inthe mid-Atlantic region unexpectedly slowed. The Dow Jonesindustrial average fell 62.71 points, or 0.43 percent, to14,555.88, the S&P 500 lost 7.88 points, or 0.51 percent,to 1,544.13 and the Nasdaq Composite dropped 22.67points, or 0.71 percent, to 3,182.01.

** VERIZON COMMUNICATIONS INC, $51.67, up 4.3 pct(1056 ET)

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

** MORGAN STANLEY, $20.78, down 3.2 pct (1057 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, $14.30, up 25 pct (1002 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.

** SINOVAC BIOTECH LTD, $3.84, down 7 pct (1047 ET)

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 (1057 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.

** PEPSICO INC, $82.61, up 5 pct (1059 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, down 11 percent (1000ET)

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.

** ASTORIA FINANCIAL CORP, $9.50, up 2 pct (1005 ET)

The bank reported quarterly results on Wednesday that grazedpast estimates, helped by a decline in operating expense andlower provision for loan losses.

** EAST WEST BANCORP, $23.08, down 4 pt (1035 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.

** SELECT COMFORT CORP, $18.68, up 6.37 pct (11.07ET)

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 (1101 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.

** COINSTAR INC, $54.95, down 3 (1055 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, $58.02, down 2.9 pct (1058 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.

** NOBLE CORP, $36.52, up 4.5 pct (1132 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, $70.06, up 4.7 pct (1005ET)

** NEWMONT MINING CORP, $32.58, up 0.7 pct (1005 ET)

** ANGLOGOLD ASHANTI LTD, $17.80, up 1.4 pct (1005ET)

** BARRICK GOLD CORP , $18.07, up 2.4 pct(1006 ET)

** FIRST MAJESTIC SILVER INC, $11.28, up 2.8 pct(1006 ET)

** YAMANA GOLD INC, $11.34, up 2.2 pct (1008 ET)

** KINROSS GOLD CORP, $5.18, up 3.6 pct (1008 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, $7.32, down 26.6 pct (0953ET)

The company said its molecular screening test for colorectalcancer met a late-stage trial goal of detecting the disease inmore patients than other commonly used tests. But its resultswere not as robust as some were expecting.

** TRAVELZOO INC, $25.09, up 15.5 pct (0952 ET)

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

** THERAVANCE INC, $32.40, up 15.7 pct (1059 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 , $3.19, down 10.9 pct (1058ET)

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, $91.01, down 3.2pct (0950 ET)

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

** PRIVATEBANCORP INC, $18.07, up 3.9 pct (0950 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, $34.40, down 10 pct (1100 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, $139.21, up 5 pct (1027 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, $141.25, up 3.1 pct (0958 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, $59.85, down 3.5 pct(1016 ET)

** HUMANA INC, $71.40, down 4 pct (1016 ET)

** AETNA INC, $54.55, down 1 pct (1017 ET)

** WELLCARE HEALTH PLANS INC, $57.43, down 3 pct(1017 ET)

** COVENTRY HEALTH CARE INC, $48.57, down 1 pct(1018 ET)

** MOLINA HEALTHCARE INC, $32.65, down 2 pct (1019ET)

** UNIVERSAL AMERICAN CORP, $8.80, down 2 pct (1019ET)

** CENTENE CORP, $43.89, down 3 pct (1020 ET)

** WELLPOINT INC, $67.67, down 2 pct (1024 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.

** MILLENIAL MEDIA INC, $6.26, up 2.8 pct (0959 ET)

Northland Capital Markets started the mobile advertisingfirm's shares with an "outperform" rating and a $12 pricetarget. "Millennial's expanding 'local' targeting and exchangecapabilities will soon take shape opening partnershipopportunities with leading social and e-commerce players lookingto grow/defend their mobile turf against heavyweights such asFacebook and Google," analyst Mark Zgutowicz wrote in a note.

** ALLISON TRANSMISSION HOLDINGS INC, $22.17, up4.8 pct (1010 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 (1013 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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