Market Pulse: Hudson Tech, Zynga, A. Schulman, Linn Energy

Mobile Global Esports

02/07/2013 15:17

(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/guw39t) July 2 (Reuters) - Some U.S. stocks on the move on Tuesday: WALL STREET LITTLE CHANGED AHEAD OF DATA U.S. stocks were little changed at the open on Tuesday ahead of data on factory orders and a speech from a top Federal Reserve official on the state of the economy. The Dow Jones industrial average  .DJI  was up 0.30 percent, the S&P 500 .SPX  up 0.29 percent, and the Nasdaq Composite  .IXIC  up 0.08 percent.  .N  ** HUDSON TECHNOLOGIES INC  HDSN.O , $2.30, down 27 pct (1010 ET)    The refrigerant services company estimated revenue would fall to $15.5 million in the second quarter from $22 million a year earlier.  ID:nBw49mZXpa  Roth Capital downgraded the company's stock to "neutral" and cut its price target to $3.25 on Tuesday. ** FRESENIUS MEDICAL CARE AG & CO  FMS.N  $32.47, down 8.5 pct (0944 ET) ** DAVITA HEALTHCARE PARTNERS INC  DVA.N , $114.52, down 5.4 pct (0943 ET) The U.S. agency in charge of state-run health schemes proposed on Monday rate cuts of 9.4 percent in Medicare funding for dialysis providers in 2014. DaVita is the biggest U.S. operator of dialysis clinics. German dialysis specialist Fresenius Medical Care  FMEG.DE  fell 10 percent to 49.05 euros on the Frankfurt Stock Exchange, making it the worst performing FTSEurofirst 300 stock.  ID:nL3N0F82CJ  ** ACHILLION PHARMACEUTICALS INC  ACHN.O , $6.49, down 22 pct (0943 ET) Achillion Pharmaceuticals said the U.S. Food and Drug Administration had put its hepatitis C drug sovaprevir on hold after elevations in liver enzymes were noted in an early-stage study of the drug's interaction with an HIV drug. ID:nL3N0F73ME  ** A. SCHULMAN INC  SHLM.O , $25.75, down 7.5 pct (0942 ET) The chemical maker's third-quarter earnings missed average analyst estimates by 15 cents late on Monday and the company forecast lower-than-expected profit for the year, citing uncertainty in recession-hit Europe, its biggest market. Sluggish economic conditions prompted the company to cut jobs in Americas and Europe, Middle East and Africa region as part of a restructuring program, A. Schulman said.  ID:nPnCL41187  ** LINN ENERGY LLC  LINE.O , $28.83, down 13.3 pct (0941 ET) ** LINNCO LLC  LNCO.O , $32.96, down 11 pct ** BERRY PETROLEUM CO  BRY.N , $38.51, down 7 pct Oil and gas company Linn said on Monday the U.S. Securities and Exchange Commission has initiated an inquiry regarding Linn and its affiliate LinnCo, including documents related to a $2.5 billion takeover offer of peer Berry Petroleum Co  BRY.N . ID:nGNXUYCZUa   ** XYRATEX LTD  XRTX.O , $10.65, up 2.7 pct (0941 ET) The network and storage equipment maker reported better-than-expected second-quarter results and said business wins from equipment makers was making up for the revenue decline from its once-largest customer NetApp  NTAP.O .  ID:nPnSF41054  ** American Greetings Corp's  AM.N , $18.91, up 4.5 pct  (0940 ET) American Greetings' founding family raised its offer to take the gift card maker private, according to a regulatory filing on Tuesday, sending the company's shares up 4 percent in premarket trading.  ID:nL3N0F82TW  ** AMERICAN REALTY CAPITAL PROPERTIES INC  ARCP.O , $15.20, up 2.7 pct (0940 ET) ARCP said it would buy American Realty Capital Trust IV for $3.1 billion in cash and stock to expand in the net-lease sector, where tenants pay most of the operating costs. ID:nL3N0F829I  ** ZYNGA INC  ZNGA.O , $3.38, up 10 pct (0940 ET) Zynga's decision to bring in the head of Microsoft Corp's MSFT.O  Xbox business to replace founder Mark Pincus is a bold stroke that was hailed on Wall Street but it still leaves questions as to who is ultimately in charge at the troubled game-maker.  ID:nL2N0F71LQ   ** CERES INC  CERE.O , $3.25, up 3.3 pct (0946 ET) Raymond James analyst Pavel Molchanov said the agricultural biotechnology company's energy crops have opportunities in end markets and geographies other than Brazil, which he said would be Ceres' "most visible revenue driver" over the next year. Molchanov had earlier said the company's upcoming yield data from Brazil would be the key commercialization milestone. Ceres said on Tuesday it would report results on July 11. ** REPROS THERAPEUTICS INC  RPRX.O , $19.73, up 3 pct (0950 ET) BofA Merrill Lynch initiated coverage on the drugmaker's stock with a "buy" rating and a price target of $25, according to Benzinga.com.  ** CYCLACEL PHARMACEUTICALS INC  CYCC.O , $3.14, up 2.2 pct (0939 ET) JMP Securities initiated coverage on the biotechnology company's stock with "market outperform", saying it expects rapid expansion in enrollment in the late-stage trial of the company's cancer drug sapacitabine, culminating in interim data in 2014. The brokerage set a price target of $9 on the stock.  ** ARRAY BIOPHARMA INC  ARRY.O , $4.95, up 4.7 pct (0939 ET) The biopharmaceutical company initiated a late-stage trial of its ovarian cancer drug MEK162, triggering a $5 million milestone payment from partner Novartis  NOVN.VX . Array has licensed the worldwide rights to develop and market the drug to Novartis.  ID:nPnLA41459  ** NIELSEN HOLDINGS NV  NLSN.N , $34.29, up 3 pct (0937 ET) The market research company will replace Sprint Nextel Corp S.N  in S&P 500 after close of trading on July 8. The pending Sprint transaction with Softbank Corp  9984.T  will cause sprint's public float to fall below 50 percent necessary for continued inclusion in the index.  ID:nPnNY41556  ** RUCKUS WIRELESS INC  RKUS.N , $12.99, up 3 pct (0937 ET) Brokerage Piper Jaffray & Co initiated coverage on the WiFi products maker's stock with an "overweight" rating and price target of $17. "We are seeing very strong demand for Wi-Fi offloads, new standards and proliferation of Wi-Fi connected devices," analysts wrote in a note to clients. ** QUIKSILVER INC  ZQK.N , $6.88, up 3.6 pct (0936 ET) B. Riley & Co upgraded the sportswear retailer's stock to "buy" from "neutral", according to theflyonthewall.com. ** MULTIMEDIA GAMES HOLDING CO INC  MGAM.O , $28.07, up 3 pct (0936 ET) Wells Fargo Securities started the gaming machine maker's stock with an "outperform" rating, according to Theflyonthewall.com.  ** MEAD JOHNSON NUTRITION CO  MJN.N , $76.33, down 3.9 pct (0931 ET) Five foreign infant milk formula companies are under investigation by China's top economic planning agency for possible antitrust violations, the Beijing Times reported on Tuesday quoting sources. The article said Mead Johnson, Abbott Laboratories  ABT.N , Nestle SA  NESN.VX , Danone's  DANO.PA  Dumex brand and Wyeth Nutrition are under investigation by China's National Development and Reform Commission for possible price-fixing behavior and anti-competitive practices. ID:nL3N0F81YJ  ** VIVUS INC  VVUS.O , $12.52, up 1 pct (0934 ET) Vivus's largest shareholder First Manhattan Co said it proposed a former senior executive of AstraZeneca Plc  AZN.L  as chief executive of the obesity drug maker, a move that could swing shareholder support for the activist investor's board slate ahead of a proxy vote.  ID:nL3N0F82O3  ** ONYX PHARMACEUTICALS INC  ONXX.O , $133.45, up 1.6 pct (0933 ET) Onyx Pharmaceuticals, whose cancer drugs promise a strong revenue stream, is attracting preliminary buyout interest from several large pharmaceutical companies such as Pfizer Inc PFE.N  and Novartis AG  NOVN.VX , two people familiar with the matter said on Monday. Onyx said it had rejected a recent $8.7 billion offer from larger biotech Amgen Inc  AMGN.O  as too low. ID:nL2N0F716W  (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