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MARKET PULSE-Apple, Oramed, Caterpillar, Spherix, Biocryst

Mon, 27th Jan 2014 16:38

(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/nex49s)U.S. stocks fell by mid-morning on Monday, quickly erasingearlier gains, as weaker-than-expected new home sales data andongoing concerns about emerging markets weighed on investorsentiment. The Dow Jones industrial average was down 0.13percent at 15,858.82, the S&P 500 was down 0.44 percentat 1,782.45 and the Nasdaq Composite was down 0.97percent at 4,088.069.

** ORAMED PHARMACEUTICALS INC, $24.61, +23.05 pct

The Israeli developer of oral drug delivery systems said itwill present data from a mid-stage study of the company's orallyingestible insulin capsule on Thursday, Jan 30. The drug, ORMD-0801, is being tested for type 2 diabetes.

** BIOCRYST PHARMACEUTICALS INC, $9.7101, -16.29pct

Wells Fargo analyst Brian Abrahams cut his rating on thestock to "market perform" from "outperform," saying thecompany's current valuation reflected potential revenue from itsinfluenza injection and the promise of its experimental drug totreat hereditary angioedema, a rare disease characterized byswelling of the body.

** YADKIN FINANCIAL CORPORATION, $18.445, +6.56 pct

** VANTAGESOUTH BANCSHARES INC, $5.7, +10.89 pct

Lender Yadkin said it would buy VantageSouth Bancshares for about $299 million in stock to expand its community bankingpresence across major markets. VantageSouth shareholders willreceive 0.3125 shares of Yadkin's common stock for everyVantageSouth share. The combined bank will have about $4 billionin assets.

** GERON CORP, $4.62, -17.79 pct

The company said about 20 patients enrolled in a trialtesting its cancer drug, imetelstat, dropped out of the study.The company said the investigator-sponsored trial had enrolled79 patients since it started. The study was testing imetelstatin patients with myelofibrosis and other myeloid malignancies, agroup of blood cancers.

** SPHERIX INC, $5.86, -28.88 pct

The intellectual property company entered into a lockupagreement with certain shareholders for 1.5 million shares.

** APPLE INC, $550.29, +0.77 pct

The iPhone maker may notch its most successful holidayshopping season yet when it reports quarterly results aftermarkets close, setting records for sales of its gift-friendlyiPhones and iPads.

** CATERPILLAR INC, $89.78, +4.19 pct

Caterpillar posted a stronger-than-expected quarterly profiton Monday as the world's largest mining and constructionequipment aggressively cut costs to offset continued sluggishsales of its earth-moving equipment.

** CAREER EDUCATION CORP, $5.76, -5.11 pct

The for-profit education company said it received inquiriesfrom 12 state attorneys general related to its enrollmentpractices and student loans.

** ACCO BRANDS CORP, $5.83, -8.33 pct

Suntrust Robinson Humphrey cuts its rating on the officeproducts maker's stock to "neutral" from "buy," according toTheflyonthewall.com.

** NORTHWEST BIOTHERAPEUTICS INC, $5.04, +4.13 pct

The biotechnology company said it had entered into a set ofagreements with its contract manufacturer to expand themanufacturing and distribution capacity of its vaccines.Northwest said the agreements would allow it to expand itsclinical programs in the U.S. and Europe.

** MILLENNIAL MEDIA INC, $7.35, +9.54 pct

The company, which helps mobile app developers andadvertisers to focus on smartphones, tablets and other mobiledevices, estimated fourth-quarter revenue above analysts'estimates.

** REGIS CORP, $12.22, -8.94 pct

The Supercuts hair salon operator reported second-quarterresults that missed analysts' estimates, hurt by a 6.2 percentdecline in same-store sales.

** LIGHTINTHEBOX HOLDING CO LTD, $8.98, -8.92 pct

The online retailer said Chief Financial Officer Richard Xuehas decided to leave the company effective Feb. 17 due topersonal reasons. It will search for a new CFO immediately.Meanwhile, Financial Controller Jennifer Hu will perform allaccounting and finance duties.

** ANN INC, $32.78, -4.15 pct

Brokerage Janney Capital Markets downgraded the women'sapparel retailer's stock to "neutral" from "buy," citingnegative traffic, weak consumer demand and deep promotions.Janney also lowered its fourth-quarter earnings estimate for theretailer to 9 cents per share from 17 cents and said it expectssales to remain weak through January and February.

** ACCO BRANDS CORP, $5.83, -8.33 pct

Suntrust Robinson Humphrey cuts its rating on the officeproducts maker's stock to "neutral" from "buy," according toTheflyonthewall.com.

** YINGLI GREEN ENERGY HOLDING COMPANY LTD, $6,+2.39 pct

** CANADIAN SOLAR INC, $37.35, +0.27 pct

** TRINA SOLAR LTD, $14.14, +3.82 pct

** JINKOSOLAR HOLDING CO LTD, $29.29, -1.38 pct

** JA SOLAR HOLDINGS CO LTD, $8.6, -2.16 pct

** RENESOLA LTD, $3.27, -3.54 pct

** FIRST SOLAR INC, $48.73, +0.12 pct

** SOLARCITY CORP, $68.43, -2.91 pct

** SUNPOWER CORP, $31.07, -0.22 pct

Analysts at Roth Capital said confusion regarding China'stargeted demand for solar consumption in 2014, along with theongoing U.S.-China trade war and U.S. suspension of Chineseunits of four accounting firms weighed on the solar companies'stocks. Analysts said the U.S. trade officials' investigationinto imports of certain solar products from China and Taiwan,and the SEC suspension of accounting firms represent potentialnear-term industry headwinds.

The investigation could bar import of modules assembled inChina into the U.S. market, resulting in higher prices and lowerdemand. "Not only could this adversely impact Chinese modulemanufacturers and Taiwanese cell manufacturers, but it couldalso negatively impact downstream companies in the US and the USmarket overall," analysts said in a note.

** SHANDA GAMES LTD, $6.35, +12.39 pct

The Chinese online game developer received a buyout offerfrom its controlling shareholders that values the company at$1.9 billion, highlighting the growing popularity of onlinegaming in China.

** INTEGRATED DEVICE TECHNOLOGY INC, $9.725, -7.12pct

Barclays Capital cut its rating on the chip-componentmaker's stock to "underweight" from "equal weight," saying thestock was reflecting insufficient concern for revenue headwindsafter its cost-cutting efforts.

** FOOT LOCKER INC, $38.18, +1.89 pct

J.P. Morgan Securities began covering the specialty athleticfootwear and apparel retailer's stock with an "overweight"rating and a price target of $47 as it expects the company'ssame-store sales to rise about 4-4.5 percent through 2016.

** 3D SYSTEMS CORP, $75.09, -5.98 pct

Brokerage Needham & Co cut its price target on the 3Dprinter company's shares by $5 to $95, saying the company'sinvestments to expand into new verticals would take severalquarters to be realized.

-15.95** YRC WORLDWIDE INC, $19.6399, +4.52 pct

Teamsters union members have approved YRC Worldwide'srevised labor contract, clearing the way for the strugglingtrucking company to proceed with its refinancing plans.

** AT&T, $33.45, +0.09 pct

** VODAFONE GROUP PLC, $36.959, -2.84 pct

** VERIZON COMMUNICATIONS INC, $48.1, +0.99 pct

** SPRINT CORP, $8.83, +5.12 pct

U.S. mobile group AT&T has ruled out a bid for Britain'sVodafone for now, with banking sources saying a U.S. spyingscandal and a surge in European telecom shares may havedisrupted a deal that many think could stillhappen.

** BOEING CO, $136.78, +0.10 pct

The airplane maker said on Friday it is producing its 787Dreamliner at the highest ever rate of 10 per month, a milestonethe company had hoped to achieve by the end of 2013.

** CISCO SYSTEMS INC, $21.99, -0.95-0.95 pct

JPMorgan cut its rating on Cisco's stock to "underweight"from "neutral," citing weakness in emerging markets serviceproviders and delayed spending in the switching market driven bysoftware-defined networking. The brokerage cut its price targeton the stock to $17 from $21.

** PROCTER & GAMBLE CO, $78.73, -0.57 pct

** KIMBERLY-CLARK CORP, $107.28, -0.11 pct

The companies, two of the world's biggest household productsmakers, forecast strong sales gains in emerging markets onFriday, quelling investor fears that slowing growth in somecountries would hurt their prospects. P&G, the maker of Pampersdiapers and Tide detergent, said revenue rose 8 percent indeveloping countries in its fiscal second quarter, but barelyedged up in mature markets like the United States and Europe. Itstuck to its 2014 sales and profit forecasts. Kimberly-Clarkreported similar gains in emerging markets, helped by stronggrowth in China, and gave an upbeat 2014 forecast.$74.1-0.43

** LIBERTY GLOBAL, $81.11, -2.59 pct

The U.S. cable group will buy Ziggo in acash-and-share deal valuing the Dutch operator at 10 billioneuros ($13.7 billion) to expand its reach across Europe.

-1.82

** ROYAL CARIBBEAN, $48.18, +2.23 pct

** CARNIVAL CORP, $39.81, +1.69 pct

The world's second-largest cruise operator reported afourth-quarter profit, compared to a year-earlier loss, buoyedby increased bookings in most markets.

Carnival Corp shares were also up on thenews.$43.51+1.35$10.97-0.90 (Compiled by Sruthi Ramakrishnan in Bangalore,)

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