Market Pulse: BlackBerry, Accenture, IBM, Emmis, Noodles, Amedisys

Emmis

28/06/2013 16:35

(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/taj39t) June 28 (Reuters) - Some U.S. stocks on the move on Friday: S&P 500, NASDAQ TURN HIGHER The S&P 500 and Nasdaq turned higher while the Dow pared losses in late morning trading on Friday, with the S&P 500 led by gains in the consumer discretionary sector. The Dow Jones industrial average  .DJI  was down 0.40 points, Standard & Poor's 500 Index  .SPX  was up 1.75 points and the Nasdaq Composite Index  .IXIC  up 10.95 points.  .N  ** BLACKBERRY  BBRY.O , $10.72, down 27.6 pct (1032 ET) The Canadian smartphone maker offered few signs of a long-promised turnaround on Friday, with an unexpected quarterly operating loss, a dearth of details on sales of its make-or-break new line of devices and no return to profit expected in the current quarter.  ID:nL2N0F408G  ** ACCENTURE PLC  ACN.N , $70.09, down 13 pct (1037 ET) ** IBM CORP  IBM.N , $190.00, down 2.5 pct ** COMPUTER SCIENCES CORP  CSC.N , $43.26, down 3 pct ** SAP AG  SAPG.DE   SAP.P , $72.71, down 4 pct Outsourcing and consulting services provider Accenture cut its full-year outlook On Thursday, citing a pullback in spending by its consulting business clients, after reporting third-quarter revenue below analysts' estimates.  ID:nL3N0F33RX  At least two brokerages downgraded the stock. "While we remain convinced Accenture's fundamentals are among the best within IT services industry, we nonetheless view the current valuation as unsustainable in the short term at least given poor visibility on demand," Societe Generale analysts said. Some other big tech stocks such as IBM and SAP also fell on the news. ID:nL2N0F40G5  ** AMEDISYS INC  AMED.O , $9.60, down 27.7 pct (0931 ET) ** GENTIVA HEALTHCARE SERVICES INC  GTIV.O , $9.29, down 19 pct  ** LHC GROUP INC  LHCG.O , $19.76, 12 pct  ** ALMOST FAMILY INC  AFAM.O , $17.66, down 11.7 pct      ** KINDRED HEALTHCARE INC  KND.N , $12.81, down 2 pct  Reimbursement to home healthcare providers from the U.S. Medicare program will be cut by about 1.5 percent next year, under a rate change proposal made public by the Centers for Medicare and Medicaid Services on Thursday.  ID:nL3N0F42VT  ** EMMIS COMMUNICATIONS CORP  EMMS.O , $2.25, up 24 pct (0937 ET) The radio broadcaster reported a first-quarter profit, compared with a loss a year earlier. The company also reported higher quarterly revenue.  ID:nPNDE40172  ** NOODLES & CO  NDLS.O , $34, up 90 pct (1121 ET) Shares of fast-casual restaurant chain operator, known for its Pad Thai and Mac & Cheese, rose as much as 110 percent in their market debut, valuing the company at about $969 million. ID:L3N0F42CC  ** ARKANSAS BEST CORP  ABFS.O , Thursday close $22.92, up 14.6 pct (1109 ET) Employees at the company's ABF Freight System Inc unit ratified a collective bargaining agreement for the next five years.  ID:nPnDA40195  ** AZZ INC  AZZ.N , $37.50, down 13 pct (1106 ET) The maker of electrical equipment and components reported first-quarter results that missed analysts' estimates as costs rose. The company also forecast fiscal 2014 results below analysts expectations.  ID:nPnLA40177  ** KIOR INC  KIOR.O , $5.30, down 9 pct (1029 ET) The renewable fuel company Vice President John Kasbaum proposed to sell 1,251 shares, according to a regulatory filing  on Thursday.  ID:nWSAc7431f  ** ARCH COAL INC  ACI.N , $3.58, up 7 pct (0932 ET) The coal producer said it would sell its Utah subsidiary Canyon Fuel Company for $435 million to Bowie Resources LLC as it looks to focus on metallurgical coal and optimize its thermal coal assets. Arch Coal said it expects to save capital and administrative cost of more than $200 million from 2014 through 2017.  ID:nPnCG40049  ** DENDREON CORP  DNDN.O , $4.41, up 8 pct (0933 ET) ** RAPTOR PHARMACEUTICALS INC  RPTP.O , $9.50, up 1.3 pct  ** HOSPIRA  HSP.N , $36.56, up 1 pct  ** ONYX PHARMACEUTICALS INC  ONXX.O , $86.07, up 1 pct Experts at the European Medicines Agency recommended approval of a host of drugs including Dendreon's cancer vaccine Provenge, Raptor's Procysbi that treats a rare genetic disorder called nephropathic cystinosis, Hospira's Inflectra that treats rheumatoid arthritis, inflammatory bowel disease and plaque psoriasis, and Stivarga, the colorectal cancer drug of Bayer BAYGn.DE  and Onyx. ** BIOGEN IDEC INC  BIIB.O , $220.15, up 5.4 pct (0936 ET) French drugmaker Sanofi's  SASY.PA  hopes in the multiple sclerosis market received a double boost on Friday as the European regulator backed an injectable treatment and adopted a more positive stance toward a pill for the neurodegenerative disease.  ID:nL5N0F41S9  The decisions lifted the stock of Biogen Idec, a leader in the U.S. multiple sclerosis space with its key drug Tysabri.  ** JETBLUE AIRWAYS CORP  JBLU.O , $6.33, up 4 pct (1119 ET) David Neeleman, the founder of the airline, is putting together a $3.2 billion investment fund to buy back control of the company and purchase Portuguese airline TAP  TAPA.UL , Brazilian newspaper Folha de S.Paulo reported on Friday. ID:nL2N0F40OM  ** AMERICAN SUPERCONDUCTOR CORP  AMSC.O , $2.63, up 12.6 pct (0934 ET) Chinese wind turbine maker Sinovel Wind Group Co  601558.SS  and two of its employees were charged with stealing trade secrets from U.S.-based AMSC by the Department of Justice (DoJ) on Thursday.  ID:nL2N0F32EE  ** THE FINISH LINE INC  FINL.O , $22.35, up 5 pct (1014 ET) ** FOOT LOCKER INC  FL.N , $35.08, up 2.4 pct (1116 ET) Footwear retailer Finish Line reported better-than-expected quarterly results as higher sales at its Macy's  M.N  store locations and of basketball shoes helped same-store sales rise 2.4 percent. The company said it expects adjusted earnings per share to increase in a mid-single digit percentage over fiscal 2013's income of $1.47 per share.  ID:nBw285269a  ** MOLYCORP INC  MCP.N , $5.91, up 5.3 pct (0935 ET) The rare earths producer said the U.S. Securities and Exchange Commission has completed an investigation against the company and has not recommended any enforcement action. The SEC had started investigating the accuracy of Molycorp's public disclosures last August.  ID:nL3N0F33W4  ** PETROCHINA CO LTD  PTR.N , $109.0, up 5.3 pct (1040 ET) China said it would raise the price local distributors pay for gas for non-residential use by 15 percent, the first step on a national scale to reduce the loss state-owned gas producers and importers are taking on the fuel.  ID:nL3N0F42J4  ** DEUTSCHE BANK  DB.N , $41.83, down 3.3 pct (1010 ET) EU finance ministers agreed on Thursday on an intermediate step towards what is known as banking union, which involves tighter oversight of Europe's banks and coordinated resolution of any problems. Thursday's agreement means investors and wealthy savers will share the costs of future bank failures. ID:nL5N0F420U  ** BARCLAYS PLC  BCS.N , $16.98, down 3 pct (1031 ET) Barclays  BARC.L  may have to cut lending if it is forced to act quickly to meet a new financial strength target imposed by Britain's financial watchdog, the bank said on Friday. ID:nL5N0F4235  ** PACIFIC SUNWEAR OF CALIFORNIA  PSUN.O , $3.70, up 11 pct (0947 ET) Wedbush Securities Inc upgraded the surfwear maker's stock to "outperform" from "neutral", citing signs of improving sales of surf and skate clothing, expansion into women's apparel with the opening of 200 new Brandy Melville stores and increasing margins due to less discounting. The brokerage also raised its price target on the stock to $4 from $3.75.  ** BARRICK GOLD CORP  ABX.N , $15.62, up 5 pct (1111 ET) ** MCEWEN MINING INC  MUX.N , $1.76, up 4 pct (1105 ET) ** IAMGOLD CORP  IAG.N , $4.38, up 7 pct (1105 ET) ** YAMANA GOLD INC  AUY.N , $9.40, up 7 pct (1105 ET) ** GOLDCORP INC  GG.N , $23.88, up 4 pct (1105 ET) ** ALAMOS GOLD INC  AGI.N , $11.46, up 3 pct (1101 ET) ** ENDEAVOUR SILVER CORP  EXK.N , $3.24, UP 9 PCT (1107 ET) Spot gold prices  XAU=  rose 1 percent to $1211.81 per ounce at 1509 GMT, crossing the $1,200 per ounce mark, after falling to a near three-year trough earlier in the day. ** GAMESTOP INC  GME.N , $42.58, up 4 pct (1009 ET) BofA Merrill Lynch started coverage of the world's largest video games retailer with a "buy" rating on its stock, according to Benzinga.com. ** RENREN INC  RENN.N , $2.95, up 4 pct (1015 ET) The Chinese social networking site said it would buy back up to $100 million of its American Depository Shares. ID:nPnCN40221  ** SUNTECH POWER HOLDINGS CO LTD  STP.N , $1.02, down 2 pct (0935 ET) China-based solar panel maker, whose main unit is in insolvency proceedings, said it had struck a deal with a majority of its bondholders to defer payment on a $541 million loan until Aug. 30, the third time the company has reached such an agreement.  ID:L3N0EW34W  ** CALAMP CORP  CAMP.O , $14.64, up 2 pct (0936 ET) The wireless device maker reported first-quarter results that beat Wall Street estimates as revenue rose in its high-margin business that provides technologies, products and services to wireless networks. The company also forecast second-quarter revenue largely above expectations. ID:nMKW30645a Canaccord Genuity raised its price target on the stock to $20 from $16. ** PFIZER INC  PFE.N , $28.52, up 1.2 pct (0938 ET) The drugmaker authorized a $10 billion share repurchase program, in addition to the $3.9 billion remaining under its current share repurchase program.  ID:nBw9Dds5xa  ** NIKE INC  NKE.N , $61.34, down 1.6 pct (0938 ET) The sports goods maker, which posted a higher quarterly profit on Thursday, said orders for its clothes and shoes jumped, particularly in North America, but orders were flat in China, stripping out the effect of currency fluctuations. The company, which receives about 11 percent of its sales and 22 percent of its profit from China, said it expects revenue from the region to fall in the first half of 2014.  ID:nL2N0F31ZK     ** DANA HOLDING CORP  DAN.N , $19.24, up 5.6 pct (0938 ET) The auto parts supplier said it expanded its share repurchase program to up to $1 billion from $250 million. ID:nL2N0F40ID     ** SHAW COMMUNICATIONS INC  SJR.N , $23.48, up 3 pct (0952 ET)  The Canadian cable company reported  stronger-than-expected quarterly results and raised its cash-flow forecast, sending its shares up 3 percent in early trading.  ID:nL3N0F42XO  (Compiled by Kanika Sikka; Editing by Don Sebastian) ((kanika.sikka@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1130)(Reuters Messaging: kanika.sikka.thomsonreuters.com@reuters.net)) Keywords: MARKETS USA STOCKS/PULSE