Market Pulse: Daktronics, DSW, gold stocks, Vivus, Wet Seal

Acura Pharmaceuticals

28/05/2014 18:56

(For more market insights, including options activity, click on STXNEWS/US ; for the Day Ahead newsletter http://link.reuters.com/mex49s; for the Morning News Call newsletter, http://link.reuters.com/nex49s) U.S. stocks slipped, with technicals in focus and scant key items on the U.S. economic calendar, as the S&P 500 hit yet another intraday record in early trading Wednesday. The Dow Jones industrial average  .DJI  was down 37.83 points or 0.23 percent at 16,637.67, the S&P 500  .SPX  was down 1.89 points or 0.1 percent at 1,910.02 and the Nasdaq Composite  .IXIC  was down 10.24 points or 0.24 percent at 4,226.83.  .N  ** CONOCOPHILIPS  COP.N , $79.67, +0.80 pct Analysts at Guggenheim Securities raised their price target on the largest U.S. independent oil and gas company's stock to $90 from $82. The raise is due to higher net asset value, with increases in U.S. Onshore and Deepwater Exploration, and higher earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses. ** SPECTRANETICS CORP  SPNC.O  $22.72, -6.73 pct  The medical device maker on Tuesday said it will acquire AngioScore Inc, a maker of balloon catheters, for $230 million. ID:nGNXVARBXa . Spectranetics intends to offer convertible senior notes worth $200 million and use the net proceeds from the offering to fund the acquisition of Angioscore, it said. ID:nGNXVARCEa  Brokerage CRT Capital raised its target price on the company's stock on Wednesday to $37 from $34. ** ARAMARK  ARMK.N , $26.81, +2.68 pct The company, which mainly provides food and support services, late on Tuesday said certain of its shareholders were offering 20 million shares for sale in a public offering. The selling stockholders will receive all of the proceeds from the offering.  ID:nPnXNtH1  ** VIVUS INC  VVUS.O , $5.21, +11.56 pct The obesity drug maker's biggest shareholder said it was planning to buy the obesity drug maker in a deal valued at $640 million, the latest shareholder attempt to revive a company that has struggled to boost sales of its key drug.  ID:nL3N0OE3JH  ** FX ENERGY INC  FXEN.O , $4, -16.67 pct Analysts at Euro Pacific Capital lowered their price target on the oil and gas producer's stock to $5.50 from $6.00, citing a lower valuation of the company's assets at Tuchola, Poland. The company said test data indicated 20 billion cubic feet of gas in place at the Tuchola field.  ID:nPn9GVls1  ** HARMONY GOLD MINING CO  HMY.N , $2.64, -6.05 pct ** GOLDCORP INC  GG.N , $23.04, -2.21 pct ** KINROSS GOLD CORP  KGC.N , $3.695, -3.27 pct ** ROYAL GOLD INC  RGLD.O , $60, -1.86 pct ** AURICO GOLD INC,  AUQ.N , $3.5, -3.05 pct ** YAMANA GOLD INC  AUY.N , $7.105, -2.00 pct ** COEUR MINING INC  CDE.N , $6.82, -4.21 pct ** IAMGOLD CORP  IAG.N , $3.04, -3.49 pct ** FIRST MAJESTIC SILVER CORP  AG.N , $8.43, -3.88 pct ** SILVER WHEATON  SLW.N , $20.28, -1.55 pct ** ENDEAVOUR SILVER CORP  EXK.N , $3.742, -1.78 pct Gold prices hit 3-1/2 month lows as the dollar climbed to its highest since February against the euro and stock markets held near recent peaks, after a technical breakout the previous day saw the metal slide more than 2 percent.  ID:nL3N0OE1US  Spot gold  XAU=  fell to its weakest since early February at $1,260.44. At 1411 GMT it was at $1,262.51 an ounce, down 0.1 percent, while U.S. gold futures  GCv1  for June delivery were down $2.60 an ounce at $1,266.50 an ounce. Silver  XAG=  was up 0.1 percent at $19.03 an ounce.     ** MICRON TECHNOLOGY INC  MU.O , $28.61, +1.96 pct Brokerage UBS Investment Research raised its rating to $32 from $30 on the chipmaker's stock, anticipating an increase in demand for DRAM and NAND memory chips. The brokerage also expects the shift to 3D NAND from 2D NAND to benefit the average selling price of the chips. ** DYAX CORP  DYAX.O  $8.61, +2.38 pct  The drugmaker said it has dosed the first subject in an early-stage trial of its experimental injection used to prevent hereditary angioedema attacks.  ID:nBw1sWfH9a  Hereditary Angiodema is a disease characterized by sudden attacks of swelling of the skin or mucous membranes, which can be disfiguring, painful and even fatal. ** ROCKWELL MEDICAL INC  RMTI.O  $11.935, +6.56 pct The drugmaker said the the U.S. Food and Drug Administration accepted a marketing application for its experimental drug used to treat iron deficiency in chronic kidney disease patients. The U.S. health regulator is expected to decide on whether to approve the drug by Jan 24, 2015, the company said on Wednesday. ID:nGNXVARCUa  ** LIVE NATION ENTERTAINMENT INC  LYV.N , $23.6, -3.67 pct Brokerage Sterne Agee cut its rating to "neutral" from "buy" on the live music concerts producer's stock. ** MICHAEL KORS HOLDINGS LTD  KORS.N , $96.57, +0.87 pct The fashion accessories retailer said it expected the cost of opening new stores in Europe to depress gross margins in the next few quarters. A seemingly inexorable rise in the company's stock ground to a halt after a company executive said he expected gross margins to fall slightly in the current quarter from a year earlier.  ID:nL3N0OE2U6  ** LOWE'S COS INC  LOW.N , $46.79, -2.07 pct Canaccord Genuity cut its rating on the world's No. 2 home improvement chain's stock to "sell" from "hold", citing slowing housing momentum in the United States, management changes and tough competition. ** ARRAY BIOPHARMA  ARRY.O , $4.32, +5.37 pct ** BIOGEN IDEC  BIIB.O , $310.08, +0.10 pct Array said it entered into a drug discovery collaboration agreement with Biogen for the treatment of autoimmune disorders, Array said on Wednesday. Under the terms of the deal, Biogen and Array will collaborate on drug discovery, but Biogen will be responsible for all aspects of clinical development and marketing.  ID:nPnxv5fq  ** OREXIGEN THERAPEUTICS  OREX.O , $6.31, +6.95 pct  An article on seekingalpha.com on Wednesday suggested the company's experimental weight-loss drug, Contrave, was likely to receive U.S. Food and Drug Administration approval and can become the market leader. (http://link.reuters.com/ker69v) The U.S. health regulator is expected to decide on whether to approve the drug by June 10. ** EDAP TMS SA  EDAP.O , $3.2799, -6.02 pct  The medical device maker said it expects to raise about $9.3 million in an offering of 3 million its common shares with certain institutional investors, in the form of American Depositary Shares at $3.11 per ADS.  ID:nGNXVARIQa  ** STRYKER CORP  SYK.N  $83.2, +3.53 pct The U.S. medical devices manufacturer has denied any intention of making a bid for UK rival Smith & Nephew Plc SN.L , whose shares had spiked higher after a report that Stryker was planning a bid.  ID:nL6N0OE3M5  ** STRATEGIC HOTELS & RESORTS INC  BEE.N , $10.74, -3.24 pct The real estate investment trust priced an offering of 36 million shares at $10.50 each, a discount of 5.4 percent to the stock's Tuesday close.  ID:nPn9pMS8d  ** ACURA PHARMACEUTICALS INC  ACUR.O , $1.0999, -12.71 pct The biotechnology company's shares fell as much as 21 percent to a life low on Wednesday, a day after the U.S. health regulator said data on its experimental painkiller was insufficient to support its claim that the drug could not be abused by snorting.  ID:nL3N0OE3CP  ** FIRST SOLAR INC  FSLR.O , $62.235, +1.59 pct Brokerage Stifel Nicolaus resumed its rating on the solar module maker's stock with a "buy' rating and a target price of $75. Analysts believe the company is well placed "to take advantage of global solar PV growth tailwinds" with growth in annual installation to about 60 GW in 2016.  ** OILTANKING PARTNERS LP  OILT.N , $92.02, +5.02 pct The pipeline and storage company announced on Wednesday plans for a two-for-one unit split. "The unit split will make the partnership's units more accessible to a broader base of potential investors and enhance liquidity for all unitholders," Chief Executive Ken Owen said.  ID:nPnMkM2M   ** DAKTRONICS INC  DAKT.O , $12, -17.07 pct The supplier of electronic displays and scoreboards reported lower-than-expected results for the fourth quarter, hurt by a fall in sales of its schools & theaters and transportation businesses.  ID:nGNXVAREFa  ** PETROLOGISTICS LP  PDH.N , $14.243, +10.15 pct A Koch Industries Inc  KCHIN.UL  unit will take PetroLogistics LP  PDH.N  private in a deal worth $2.1 billion, including debt, gaining control of a plant that can convert cheap U.S. shale gas into propylene, a key petrochemical used to make plastics. PetroLogistics shares were the top percentage gainers on the New York Stock Exchange.  ID:nL3N0OE2OH  ** DSW INC  DSW.N , $23.57, -27.52 pct The shoe retailer reported first-quarter results that missed analysts' estimates, hurt by unseasonal weather and an aggressively promotional retail environment. The company also forecast fiscal 2014 adjusted earnings below the average analyst estimate. DSW shares were the top percentage loser on the New York Stock Exchange.  ID:nPnN1N5L  ** TWITTER INC  TWTR.N , $33.19, +8.78 pct Nomura Securities raised its rating on the microblogging website's shares to "buy" from "neutral", saying advertising on Twitter is steadily becoming a bigger part of ad budgets and its revenue from outside the United States is expected to grow. ** CHINA SUNERGY CO LTD  CSUN.O , $3.6, -5.01 pct The solar company reported a smaller loss in the first quarter, helped by increase in shipments to higher-margin markets like Japan and France. Net income attributable to shareholders narrowed to $14.7 million, or 99 cents per American depository share (ADS) in the quarter ended March 31, from $22.9 million, or $1.71 per ADS, a year earlier.  ID:nPnT1L9X  ** WET SEAL INC  WTSL.O , $0.8602, -14.83 pct Women's apparel retailer reported a bigger-than-expected quarterly loss, hurt by a double-digit fall in comparable-store sales.  ID:nL3N0OD44W  ** JDS UNIPHASE CORP  JDSU.O , $11.31, +3.57 pct The maker of fiber optic components used in network communication equipment said on Tuesday it will buy back up to $100 million of its common stock through open market or private transactions.  ID:nMKW34737a  The company, which had $926.2 million in cash on March 29, will repurchase the shares by June 27, 2015. ** MAGNUM HUNTER RESOURCES CORP  MHR.N , $7.85, +7.09 pct The oil and gas producer said it would sell 21.4 million shares of the company's common stock at $7 each in a private offering. The offer represents a 4.5 percent discount to the stock's Tuesday close of $7.33.  ID:nMKWNQ1RKa   ** BIOCRYST PHARMACEUTICALS INC  BCRX.O , $10.31, +3.20 pct The company said it plans to sell some shares and estimated that its full-year operating expenses would be at the higher end of the $48 million-$59 million it had earlier forecast. Accelerated development of its oral hereditary disorder drug would push up costs.  ID:nEOL7L2jPD  BioCryst on Tuesday said the preventive hereditary angioedema treatment was found superior to a placebo in a mid-stage trial.  ID:nL3N0OD2MV  ** HEALTH CARE REIT INC  HCN.N , $62.45, -3.07 pct The real estate investment trust was offering 12 million common shares and would use part of the net proceeds to invest in healthcare and housing properties along with the repayment of advances under its primary unsecured credit facility. The company said it expected to acquire around $414 million of senior housing and medical housing properties in second quarter. ID:nBw1NwHZ1a   ID:nBwDKGxda  ** 3D SYSTEMS CORP  DDD.N , $51.49, -9.09 pct The 3D printer maker announced an offering of 6 million shares on Tuesday. It plans to use the proceeds for acquisitions.  ID:nGNXVARCMa  Pacific Crest cut its price target on the stock to $59 from $65 on Wednesday, saying that plans for making a large acquisition will do little to quell concerns that the company is growing primarily through acquisitions. ** FORMFACTOR INC  FORM.O , $7.25, +18.46 pct The semiconductor wafer probe maker raised its second-quarter revenue forecast as it expects higher sales of its memory chips. The company raised its revenue forecast to between $65 million and $69 million from $62 to $66 million. id:nMKWTzHkWa  Brokerage B. Riley & Co raised its rating on the stock to "buy", while Needham & Co raised its price target to $9 from $8. ** QIHOO 360 TECHNOLOGY CO LTD  QIHU.N , $95, +5.58 pct The China-based antivirus software maker and search engine provider on Tuesday reported better-than-expected first-quarter profit and revenue, helped by higher subscription for the copany's mobile security product.  ID:nPn1y1gJ7  ** WORKDAY INC  WDAY.N , $82.979, +1.03 pct The software vendor raised its full-year revenue forecast after reporting better-than-expected quarterly revenue as more companies, especially in the financial sector, opted for its web-based human resources software.  ID:nL3N0OD40W  ** TOLL BROTHERS INC  TOL.N , $36.5, +2.41 pct ** D.R. HORTON INC  DHI.N , $23.4, +1.17 pct ** PULTEGROUP INC  PHM.N , $19.86, +0.30 pct ** LENNAR CORP  LEN.N , $40.63, +0.40 pct ** KB HOME  KBH.N , $16.79, +1.27 pct The largest U.S. luxury homebuilder's quarterly profit more than doubled as a recovering housing market allowed the largest U.S. luxury homebuilder to sell more homes at higher prices, sending its shares up as much as 4 percent. ID:nL3N0OE278  Shares of peers D.R. Horton, Pultegroup, Lennar and KB Home were also up on the news. ** ALLERGAN INC  AGN.N , $157.68, -4.45 pct ** VALEANT PHARMACEUTICALS INTERNATIONAL INC  VRX.N , $127.83, -1.63 pct Canadian drugmaker Valeant Pharmaceuticals  VRX.TO  raised the cash component of its unsolicited offer for Botox-maker Allergan Inc, but the increased bid fell short of expectations and the stock of both companies fell.  ID:nL3N0OE2JK  Also, Nestle SA  NESN.VX  said it was boosting its emerging skincare business by buying the rights to several dermatology products from the Canadian drugmaker for $1.4 billion in cash. ID:nL6N0OE18C  ** SYNAPTICS INC  SYNA.O , $66.38, +9.77 pct Japanese semiconductor manufacturer Renesas Electronics Corp 6723.T  plans to sell its majority stake in a maker of display chips for Apple Inc's  AAPL.O  iPhone to the smartphone chip supplier, according to sources familiar with the matter. ID:nL3N0OE0T2  ** GLAXOSMITHKLINE PLC  GSK.N , $53.94, -1.86 pct Britain's fraud office has launched a formal criminal investigation into the drugmaker  GSK.L , posing a new challenge to the company, which already faces claims of bribery in China and four other countries.  ID:nL6N0OD5E0  ** TATA MOTORS LTD  TTM.N , $39.03, -1.74 pct India's largest automaker  TAMO.NS  by revenue, said its domestic operations would likely not post a profit or would have "inadequate" profit for the fiscal year that ended in March, hurt by sluggish demand.  ID:nL3N0OE201  ** CLIFFS NATURAL RESOURCES INC  CLF.N , $15.69, -4.15 pct The miner fighting an activist investor who wants to split it up and replace its CEO, said on Tuesday it will cut 2014 capital spending by $100 million - or 25 percent - as it deals with weak seaborne iron ore and metallurgical coal prices. ID:nL1N0OD1P7  (Compiled by Ankit Ajmera in Bangalore; Editing by Joyjeet Das) ((ankit.ajmera@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3067)(Reuters Messaging: ankit.ajmera.thomsonreuters.com@reuters.net)) Keywords: MARKETS USA STOCKS/PULSE