(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)The Dow and S&P 500 dipped on Wednesday after minutes from aFederal Reserve policy meeting said the central bank could startto slow bond purchases at one of its next few meetings if theeconomy improved enough.
The Dow Jones industrial average was down 0.17percent. The Standard & Poor's 500 Index was down 0.10percent, while the Nasdaq Composite Index was up 0.02percent.
** SGOCO GROUP LTD, $7, up 32 pct (2:37 p.m. ET)
The China-based designer and distributor of liquid crystaldisplay products such as PC monitors and televisions is expectedto report third-quarter results after market close on Wednesday.SGOCO is expected to swing to a profit and report revenuegrowth, according to a Seeking Alpha report. (http://link.reuters.com/beb84v)
** J.C. PENNEY CO INC, $9.28, up 6.5 pct (2:38 p.m.ET)
The struggling retailer said it was encouraged by businessso far in November and forecast higher comparable store sales inthe current holiday quarter.
** TWITTER INC, $40.72, down 2.5 pct (11:18 a.m.ET)
** FACEBOOK INC, $47.14, up 1.68 pct (11:33 a.m. ET)
Cantor Fitzgerald cut its rating on Twitter's stock to"hold" from "buy," citing valuation.
"We move to the sidelines until management begins showingproof of further upside to consensus estimates; we favorFacebook instead," Cantor Fitzgerald analysts said.
** VOXELJET AG, $44.96, down 23 pct (2:17 p.m. ET)
** STRATASYS LTD, $110.05, down 6 pct
** EXONE CO, $52.12, down 10 pct
** 3D SYSTEMS CORP, $69.69, down 7 pct
Short-seller Citron Research questioned voxeljet's quarterlyresults, saying the Germany-based 3D printer maker providedloans to customers to generate sales and avoid posting a loss inits first results as a public company.
** CHINA HOUSING & LAND DEVELOPMENT INC, $2.05,down 31 pct (11:19 a.m. ET)
The Chinese real estate company late on Tuesday reported a14 percent fall in third-quarter revenue as demand for itsmid-tier houses fell.
** ZHONE TECHNOLOGIES INC, $4.95, up 26 pct (10:42a.m. ET)
The fiber-based network equipment maker's FiberLan producthas been approved for used by the U.S. military.
** NORTHWEST BIOTHERAPEUTICS INC, $4.98, down 25pct (2:41 p.m. ET)
The biotechnology company priced a public offering of about4.9 million units at $4.80 per unit for gross proceeds of $23.5million. Each unit consists of a share of common stock and awarrant to buy 0.5 shares of common stock at an exercise priceof $6 per share.
** UNILIFE CORP, $4, up 42.5 pct (2:42 p.m. ET)
UK-based drugmaker Hikma Pharmaceuticals Plc said itwould pay up to $40 million including milestones to Unilife in a15-year commercial supply deal to use the U.S.-based company'sprefilled drug delivery syringes.
** CLOVIS ONCOLOGY INC, $52.54, up 12 pct (2:29p.m. ET)
The company said on Tuesday that it bought a privately heldItalian biopharmaceutical company for $10 million in cash and$190 million in Clovis common stock to gain rights to itsexperimental cancer drug in the United States and Japan.
Clovis will develop Ethical Oncology Science's drug withFrench drugmaker Servier, which holds its rights in Europe andthe rest of the world, except China.
Clovis said it would get up to $470 million in milestonepayments from Servier as well as royalty payments on the salesof the drug, lucitanib, in Servier territories.
** LOWE'S COS INC, $47.30, down 6 pct (2:42 p.m. ET)
Lowe's reported slightly lower-than-expected quarterlyearnings and gave a disappointing fiscal-year outlook,underscoring the No. 2 home improvement retailer's struggle tocatch up with market leader Home Depot.
** PHILIP MORRIS INTERNATIONAL INC, $89.01, down 2.6pct (1:49 p.m. ET)
The Marlboro cigarettes maker raised its full-year profitforecast, citing a lower impact from unfavorable exchange rates,and said it would enter the e-cigarette business in the secondhalf of 2014.
** LA-Z-BOY INC, $26.84, up 10 pct (2:43 p.m. ET)
The furniture retailer reported second-quarter results thatbeat analysts' estimates on Tuesday, helped by strong salesgrowth in its upholstery business.
The upholstery business, which includes furniture such asrecliners, sofas, chairs and ottomans, accounted for about 80percent of La-Z-Boy's total sales in the second quarter.
** GRAY TELEVISION INC, $11.02, up 17 pct (2:44 p.m.ET)
The company and Excalibur Broadcasting LLC will buy 15television stations from Hoak Media LLC and Parker BroadcastingInc for $335 million in cash.
** REMARK MEDIA INC, $4.99, up 16 pct (11:02 a.m.ET)
The Las Vegas-based media company said it has been selectedas the official digital distributor of the welterweight fightbetween Manny Pacquiao and Brandon Rios at the Cotai Arena inMacau on Nov. 24. Remark Media is distributing the bout, dubbed'The Clash in Cotai', in Greater China, with PPTV as theplatform partner. Remark also said it was creating China's firstboxing channel, which will be distributed on PPTV's platform.
** URANIUM RESOURCES INC, $3.10, up 12 pct (12:38p.m. ET)
The uranium miner said it has secured financing withResource Capital Fund and would also continue to reduce costs.The company also said it would restate its financial results "toexpense certain costs that were previously capitalized" for theyears 2010, 2011, 2012 and the three quarters of 2013. However,the company added that the restatement would not impact its cashposition, financing agreements, progress on operating plans orfuture production.
** J.M. SMUCKER CO, $100.99, down 7 pct (2:44 p.m.ET)
The maker of Folgers coffee and Jif peanut butter reportedweaker-than-expected quarterly revenue as lower commodity costsand product selling prices failed to translate into salesgrowth.
** HERBALIFE LTD, $70.44, up 6.8 pct (2:23 p.m. ET)
William Stiritz, the chief executive of Post Holdings Inc, raised his stake in the nutritional products maker to6.38 percent from 5 percent, according to a regulatory filinglate on Tuesday. (http://link.reuters.com/quc84v)
Stiritz said he planned to discuss with the company'smanagement issues such as potential financing andrecapitalization actions and strategies to address currentspeculative short positions in the company's stock.
** SEABRIDGE GOLD $7.93, down 3.6 pct (2:27 p.m. ET)
** AURICO GOLD INC, $3.88, down 2.7 pct
** BARRICK GOLD $17.28, down 3 pct
** NEWMONT MINING $26.75, down 2 pct
Gold fell around 1 percent on Wednesday, as unusually largetrades in the New York futures market set the tone for lowerprices ahead of the release of minutes of the Federal Reserve'slast policy meeting later in the day.
Spot gold was down 0.9 percent at $1,262.71 an ounceby 11:24 a.m. EST (1624 GMT), having rebounded from a one-monthlow of $1,255.84.
Silver was down 0.3 percent at $20.25 an ounce,having earlier touched a three-month low of $20.08.
** BIOMARIN PHARMACEUTICAL INC, $69.36, up 4 pct(2:45 p.m. ET)
An experimental drug to treat Morquio A Syndrome, a raregenetic disorder that causes skeletal malformation and a varietyof related lung, eye, ear and heart problems, should beapproved, an advisory panel to the U.S. Food and DrugAdministration concluded on Tuesday. The 21-member panel votedoverwhelmingly in favor of approval, saying the benefits of thedrug, Vimizim, which is made by BioMarin, outweigh its risks.Leerink Swann raised its price target of the stock to $78 from$76.
** DEERE & CO, $85.18, up 3 pct (10:12 a.m. ET)
The company offered an unexpectedly upbeat forecast for 2014on Wednesday, saying sales of construction and forestryequipment should offset an anticipated slowdown in demand foragricultural machinery.
** YAHOO INC, $35.43, up 2 pct (10:12 a.m. ET)
The company said it has increased its share repurchaseauthorization by $5 billion and that it planned to offer $1billion in convertible notes.
** AEROPOSTALE INC, $10.09, up 6 pct (11:33 a.m E.T)
Dallas-based private investment firm Hirzel CapitalManagement LLC took a 6 percent stake in the apparel retailer'sstock, late on Tuesday, and called the shares undervalued. [ID:nEOL2s08JT]
** HARVEST NATURAL RESOURCES INC, $3.47, up 9 pct(10:14 a.m. ET)
The oil and gas producer said Argentina's Pluspetrol hasagreed to buy Harvest's 32 percent stake in Petrodelta SA - ajoint venture with Venezuela's state-owned Petroleos deVenezuela SA - for about $400 million. The agreement comes aweek after Harvest said its near-term liquidity concerns couldweigh on the company's ability to negotiate best possible termsto sell assets.
The cash from Pluspetrol, if received in the near term,would alleviate Harvest's liquidity concerns, WunderlichSecurities analyst Jason Wangler said in a note. Harvest alsosaid negotiations to sell stake in an offshore license in Gabonhave been terminated.
** GREEN PLAINS RENEWABLE ENERGY INC, $15.48, up9.3 pct (11:03 a.m. ET)
Piper Jaffray & Co raised its rating on the stock of theethanol supplier to "overweight" from "neutral", according toTheflyonthewall.com.
** MATTSON TECHNOLOGY INC, $2.61, up 8.3 pct (12:02p.m. ET)
The company, a supplier of rapid thermal processingequipment, said its product, paradigmE XP system, was qualifiedfor production by one of its customers. The company saidadditional systems were manufactured, shipped and installed at acustomer wafer fabrication facility during the quarter.
** OLYMPIC STEEL INC, $25.57, up 3 pct (10:45 a.m.ET)
** AK STEEL HOLDING CORP, $5.18, up 3 pct
Higher output in the developed world boosted global steelproduction growth in October, data from an industry body showed,reflecting improving confidence in the industrial sector. Worldproduction rose by 6.6 percent to 134 million tonnes in Octoberfrom a year earlier, the World Steel Association data showed onWednesday, as rating agency Moody's raised its outlook onEurope's steel sector.
** ENERGY TRANSFER EQUITY LP, $74.40, up 7.3 pct(11:00 a.m. ET)
** ENERGY TRANSFER PARTNERS LP, $53.48, up 2.3 pct
Energy Transfer Equity said it would buy liquefied naturalgas processor Trunkline LNG Co LLC from its gas transportationand processing affiliate Energy Transfer Partners LP for about$1 billion. The transaction will immediately add todistributable cash flow per unit of both the companies.
** PENN VIRGINIA CORP, $10.6, up 6 pct (11:23 a.m.ET)
Analysts at RBC Capital Markets and Howard Weil raised theirprice targets on the oil and gas company's stock.
Analysts at RBC said Penn's outlook continues to look solidthrough 2015 and likely beyond. The brokerage also said thatthere was a good chance of Penn increasing its activity in thenext year or two, driven by funding from asset sales or bettercapital efficiency.
** GREEN DOT CORP, $22.96, down 5.4 pct (11:45 a.m.E.T.)
BTIG analyst Mark Palmer said some investors may haveexpected Green Dot to make an announcement at its investor dayon Tuesday about using its unencumbered cash for a sharebuyback.
"No such announcement occurred, and the shares are retracingsomewhat after a nice run," Palmer said in an emailed note.
Green Dot shares have risen about 13 percent in November.
** EXCO RESOURCES INC, $5.21, up 5 pct (11:00 a.m.ET)
** MAGNUM HUNTER RESOURCES CORP, $6.89, up 5 pct
U.S. natural gas futures gained ground on Wednesday, backedby forecasts for a shift to colder weather later this week andnext week that should force more homeowners and businesses toturn up the heat. Natural gas is used for heating homes.
U.S. crude oil futures also turned higher after governmentdata showed a smaller-than-expected build in oil inventorieslast week.
** CAMAC ENERGY INC, $0.9, up 1 pct (1:01 p.m. ET)
The oil and gas producer said it would buy its remainingstake in two offshore licenses in Nigeria from Allied Energy Plcfor $170 million in cash plus shares and notes. To fund theacquisition, Camac has signed an agreement with South Africanstate-owned investment manager Public Investment Corp Ltd for a$270 million investment. Camac will also list its stock on theJohannesburg Stock Exchange.
** NOAH HOLDINGS LTD, $20.06, down 3.4 pct (11:27a.m. ET)
Shares of the Chinese wealth management company continued tofall after the company on Monday reported a 50 percent rise inoperating expenses for the third quarter.
** CABOT OIL & GAS CORP, $34.10, up 3 pct (11:00a.m. ET)
Analysts at Sanford C. Bernstein have upgraded the stock ofthe oil and gas producer to "outperform" from "market perform",citing the company's potential for production growth with 5billion cubic feet per day (bcfd) of production expected at itsMarcellus facility in northeast United States. The analysts alsoexpect natural gas prices to go up next year.
** INOVIO PHARMACEUTICALS INC, $2.12, up 10 pct(10:16 a.m. ET)
The company said a preclinical study of its vaccine toprevent the Middle East Respiratory Syndrome (MERS) coronavirusshowed that it induced a durable response to the virus in mice.
** SEASPAN CORP, $21.19, down 10 pct (10:17 a.m. ET)
The shipping company said on Tuesday it would offer 3.5million common shares to the public. The company plans to usenet proceeds from the offering for general corporate purposes,which could include vessel acquisitions.
** CHINA MING YANG WIND POWER GROUP LTD, $2.05, down10 pct (10:50 a.m. ET)
The wind turbine manufacturer's third-quarter loss widenedpartly due to a rise in transportation costs.
** ARC GROUP WORLDWIDE LTD, $23.18, down 10 pct(10:58 a.m. ET)
Research firm 3D Analytics completed a thorough review ofthe company, which makes equipment used in wirelesscommunication, and determined the stock is significantlyover-valued, investment website Seeking Alpha reported. (http://link.reuters.com/qac84v)
** CEREGON NETWORKS LTD, $2.55, down 12 pct (1:01p.m. ET)
The Israeli telecom equipment maker said it was selling itsordinary shares in a public offering. The offering is expectedto be priced after the close of market on Wednesday.
** TESLA MOTORS INC, $121.37, down 3 pct (10:20a.m. ET)
U.S. auto safety regulators have launched an investigationinto electric sports car maker Tesla Motors luxury Model S sedanafter three car fires in six weeks, and Tesla announced it israising the vehicle's ground clearance.
** STAPLES INC, $15.02, down 2 pct (10:17 a.m. ET)
The largest U.S. office supply retailer reportedlower-than-expected third-quarter sales, citing weak demand anda stronger dollar. The company, however, stuck to its full-yearforecast, saying it was driving growth online and in newcategories.
** OPTHOTECH CORP, $24.70, up 3 pct (2:24 p.m. ET)
Clarus Lifesciences II said it had a 10.2 percent activiststake in the biotechnology company as on Sept. 25, according toa regulatory filing. (http://link.reuters.com/guc84v)
** GLU MOBILE INC, $3.49, up 3 pct (10:10 a.m. ET)
The maker of games for smartphone and tablet said itreleased its first game developed exclusively for Google Inc's computing eyeglass called Google Glass at GlassHackathon event in San Francisco on Tuesday.
The interactive word puzzle game, called Spellista, allowsplayers to solve word scrambles in nine environments or maketheir own puzzle levels to share with friends on Glass.
** SOCIEDAD QUIMICA Y MINERA DE CHILE SA, $26.66,down 5.4 pct (10:58 a.m. ET)
The Chilean fertilizer producer saidpotash demand should be higher next year as it scrambles torecover from the breakup of a major cartel supplying the keycrop nutrient, which hit third-quarter earnings.
** SPS COMMERCE INC, $66.27, down 4 pct (10:22 a.m.ET)
The provider of cloud-based supply chain management and dataanalytics software priced its public offering of 750,000 sharesof common stock at $67 per share.
** PRICELINE COM INC, $1,163.00, up 4 pct (10:23a.m. ET)
Goldman Sachs added the online travel company's stock to its"conviction buy" list, according to Theflyonthewall.com.
** GLADSTONE COMMERCIAL CORP, $17.79, down 5 pct(10:23 a.m. ET)
The real estate investment trust late on Tuesday said itplanned to sell shares in a public offering to raise funds forproperty acquisitions and repayment of debt.
** ADT CORP, $43.76, up 2 pct (10:40 a.m. ET)
The security services provider reported higher-than-expectedfourth-quarter revenue as its customer base reached a recordhigh. The company also said it was raising its quarterlydividend.
** DEVON ENERGY CORP, $64.57, up 3 pct (10:24 a.m.ET)
The company will buy GeoSouthern Energy Corp's core assetsin the Eagle Ford shale region of south Texas for $6 billion incash, in a deal that looks to answer criticism about thecompany's lack of exposure to higher-margin oil.
** D.R. HORTON INC, $19.55, up 1 pct (10:37 a.m. ET)
** LENNAR CORP, $35.22, up 3 pct
** KB HOME, $17.18, up 2 pct
Raymond James raised its ratings on the U.S. homebuilders."After a careful evaluation of the current macroeconomicbackdrop, coupled with a recent moderation in expectations for2014 earnings and new home orders - we are once again advisinginvestors to participate in the seasonal 'hope trade' inhomebuilding stocks," analysts led by Buck Horne wrote in a noteto clients.
** DEMANDWARE INC, $54.95, down 5 pct (1:02 p.m.ET)
The company, which makes software that powers e-commercesites, priced its offering of about 3.3 million shares at $57per share.
** FEDERATED NATIONAL HOLDING CO, $11.68, down 3pct (10:26 a.m. ET)
The insurance provider priced its public offering of 2.4million shares at $10.75 per share, an 11 percent discount tothe stock's Tuesday close.
** NQ MOBILE, $14.31, up 7 pct (10:27 a.m. ET)
The Chinese mobile security software company forecastfull-year revenue ahead of Wall Street expectations. The companyexpects revenue in the range of $305 million to $310 million,above the $286.7 million analysts were expecting, according toThomson Reuters I/B/E/S. (Compiled by Natalie Grover; Editing by Kirti Pandey)
Hikma Pharmaceuticals (HIK)
