U.S. Stocks on the Move-Vitae, ChemoCentryx, TubeMogul, IBM

Anxian Yuan China Holdings

20/10/2014 17:18

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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 down 0.18 percent at 16,350.16, the S&P 500  .SPX  
was up 0.44 percent at 1,895.13 and the Nasdaq Composite  .IXIC  
dropped 9.91 points, or 0.23 percent, to 4,248.53.  .N  
     
    ** IBM CORP  IBM.N , $169.19, -7.06 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 , $4.0933, +74.18 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 , $61, -9.06 pct 
    ** QEP RESOURCE INC  QEP.N , $24.66, +6.38 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 , $6.99, +10.95 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 , $5.4735, +3.66 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 , $12.59, +9.67 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 , $10.193, +7.41 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 , $13.16, -1.50 
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 , $82.65, +8.25 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 , $96.05, -4.17 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 , $34.95, +19.08 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, -9.20 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 , $25.68, +5.72 
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 , $32.0995, +12.99 pct 
    The struggling retailer plans to raise up to $625 million 
through an offering of 8 percent senior notes and warrants, in 
another effort to boost liquidity amid concerns among suppliers 
about its finances going into the holiday season. 
 ID:nL3N0SF480  
     
    ** APRICUS BIOSCIENCES INC  APRI.O , $1.48, -9.76 pct 
    The drug developer said it acquired U.S. development and 
marketing rights for experimental drug to treat urological 
conditions in men from Finland-based privately held Forendo 
Pharma. 
    Apricus paid upfront license fee of $12.5 million to Forendo 
and intends to begin a mid-stage trial of drug, fispemifene, 
during first half of 2015.  ID:nGNXVBUPCa  
     
    ** NCR CORP  NCR.N , $23.32, -21.93 pct 
    The ATM maker lowered its third-quarter earnings forecast 
and said it expects full-year results to be below its previous 
forecast, due to a challenging retail market and difficult 
global macroeconomic conditions, including foreign currency 
headwinds.  ID:nBw2rWBGja     
         
    ** VALEANT PHARMACEUTICALS INTERNATIONAL INC  VRX.N , 
$122.77, +2.13 pct 
    ** ALLERGAN INC  AGN.N , $180.996, +1.98 pct 
    Canada's Valeant  VRX.TO  may raise its hostile takeover bid 
for Allergan and will not walk away from its pursuit ahead of 
the botox maker's Dec. 18 special shareholder mee