U.S. Stocks on the Move-Ebola-related stocks, Supercom, IBM
20/10/2014 19:16
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U.S. stocks were mixed on Monday, with the S&P 500 and
Nasdaq posting modest gains, but the Dow falling as quarterly
results from IBM disappointed. The Dow Jones industrial average
.DJI was up 0.05 percent at 16,387.85, the S&P 500 .SPX was
up 0.74 percent at 1,900.65 and the Nasdaq Composite .IXIC
dropped 9.91 points, or 0.23 percent, to 4,248.53. .N
** TEKMIRA PHARMACEUTICALS CORP TKMR.O , $18.87, -13.28 pct
** LAKELAND INDUSTRIES INC LAKE.O , $14.63, -13.84 pct
** IBIO INC IBIO.A , $2.62, -18.38 pct
** VERSAR INC VSR.A , $3.78, -16.00 pct
** ALPHA PRO TECH LTD APT.A , $4.42, -20.36 pct
Shares of Ebola-related small biotechs, medical equipment
makers and drugmakers fell between 8-21 percent after
forty-three people who had contact with Liberian Thomas Eric
Duncan, first person diagnosed with Ebola in the United States,
were cleared of monitoring. ID:nL2N0SF0LZ
Shares of Hazmat suit maker Lakeland fell 14.4 percent,
Ebola drugmaker Tekmira's shares fell 8.8 percent while those of
Chimerix fell 7.8 percent.
"Bunch of people came off quarantine in Dallas, Nigeria's
outbreak has been contained... there's a lot of positive news,"
Clarus Securities analyst David Novak told Reuters
The World Health Organization declared Nigeria free of Ebola
on Monday after 42 days with no new cases. ID:nL6N0SF1VA
** SUPERCOM LTD SPCB.O , $11.8, +15.46 pct
The Israeli digital identification products maker said it
will showcase it mobile payment service product SuperPOS TM on
Nov. 4. ID:nPn8TfmwH
The service helps smartphones and tablets make mobile
payment using near field technology and biometric authentication
technologies.
** IBM CORP IBM.N , $168.999, -7.17 pct
The world's largest technology services company said it no
longer expected to achieve its 2015 operating earnings target of
at least $20 per share after weak client spending resulted in an
unexpected fall in quarterly earnings and revenue.
ID:nL3N0SF4HL
The company also said it would pay contract-chipmaker
Globalfoundries Inc $1.5 billion in cash over the next three
years to take its loss-making semiconductor unit off its hands.
ID:nL3N0SF3WJ
The stock, which fell to its lowest in nearly three years,
was Monday's biggest drag in the S&P 500 index as well as Dow
Jones industrial average.
** SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES INC
SCOK.O , $4.312, +83.49 pct
The coal and coke processor said its facility for conversion
of carbon dioxide into clean-burning synthetic gas started
operations and its CEO was in discussions about gas compression
technology to help double output to 50,000 cubic meters of
syngas per hour. ID:nGNXVBURYa
The stock was the top percentage loser of the day.
** TESORO LOGISTICS LP TLLP.N , $59.18, -11.78 pct
** QEP RESOURCE INC QEP.N , $24.38, +5.18 pct
U.S. pipeline and storage company Tesoro said it would offer
19.4 million common units to fund a deal for QEP's natural gas
gathering and processing business QEP Midstream Partners.
ID:nHUG89MWWw
The offering represents 35 percent of the total outstanding
units.
Tesoro Logistics shares were among the top percentage losers
on the New York Stock Exchange.
** VITAE PHARMACEUTICALS INC VTAE.O , $7.08, +12.38 pct
At least four brokerages initiated coverage on the
biotechnology company's stock. JMP Securities started with
"market outperform" and a price target $15 while Wedbush
initiated with "outperform" and a $21 price target.
"While Vitae's programs are early, we believe they have
potential to be first- or best-in-class, multi-blockbuster
opportunities in Alzheimer's disease and type-II diabetes," JMP
Securities wrote in a note.
** CHEMOCENTRYX INC CCXI.O , $5.42, +2.65 pct
The drug developer reported positive data from a late-stage
trial on its experimental drug vercirnon, a potential treatment
for Crohn's disease. ID:nGNXVBUOXa
Patients given the drug twice daily experienced improved
response and remission rates than those on a once-a-day dosage.
** TUBEMOGUL INC TUBE.O , $12.85, +11.93 pct
BMO Capital Markets upgraded the advertising software
maker's stock to "outperform" from "market perform" and raised
its price target to $15 from $11. Median target price on
stock is $13.
Recent industry developments and company-specific actions,
including integration with Comcast Corp CMCSA.O -owned
FreeWheel's FourFronts program, indicate an acceleration of
TubeMogul's momentum, BMO analyst Dan Salmon wrote in his note.
** BLACKBERRY LTD BBRY.O , $10.25, +8.01 pct
BlackBerry BB.TO shares rose as much as about 7 percent
on Monday after a news website said Chinese computer maker
Lenovo Group 0922.HK might offer to buy the Canadian
technology company.
Benzinga.com, citing an unnamed source familiar with the
matter, said an offer worth $15 a share could come as early as
this week. ID:nL2N0SF0R9
** CHIQUITA BRANDS INTERNATIONAL INC CQB.N , $12.91, -3.37
pct
The banana producer said proxy advisory firm Institutional
Shareholder Services had changed its stance on the company's
proposed merger with rival Fyffes Plc FFY.I and was now
advising Chiquita's shareholders to vote for the deal.
ID:nL3N0SF5FA
** LENNOX INTERNATIONAL INC LII.N , $82.995, +8.70 pct
The climate control equipment provider reported
third-quarter adjusted profit of $1.44 per share, above the
average analyst estimate of $1.41 per share. The company also
announced a new $450 million accelerated share buyback program
in October. ID:nPn9XJfFG
** MEAD JOHNSON NUTRITION CO MJN.N , $97.08, -3.14 pct
French foods group Danone SA DANO.PA said on Sunday it was
not conducting a strategic review of assets and had not decided
on any priority in terms of possible external growth
possibilities.
The maker of Activia yoghurt and Evian water made the
comments after sources familiar with the matter told Reuters on
Friday Danone had decided it wants to pursue a takeover of U.S.
infant formula maker Mead Johnson. ID:nL6N0SE0DC
** NEWLINK GENETICS CORP NLNK.O , $33.97, +15.74 pct
The Ebola vaccine developer said it entered into a licensing
agreement with Roche Holding AG ROG.VX to develop NewLink's
cancer immunotherapy, making the company eligible to receive
over $1 billion in milestone payments. ID:nL3N0SF4M0
** STEVEN MADDEN LTD SHOO.O , $29.06, -9.02 pct
The footwear and accessory maker cut its full-year profit
forecast to $1.81-$1.86 per share, below analyst expectations of
$2.02 per share, saying it expects lower sales in the retail
footwear and wholesale segments. ID:nBw6FnrZla
The company also cut its full-year sales growth forecast to
1-2 percent from 2-4 percent growth.
** PLATFORM SPECIALTY PRODUCTS CORP PAH.N , $25.98, +6.96
pct
The specialty chemicals company said it will buy rival
Arysta LifeScience Ltd from a company backed by private equity
firm Permira for about $3.51 billion. ID:nL3N0SF4J6
** SEARS HOLDINGS CORP SHLD.O , $