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$3.88 -0.1  -1.8%

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Sector
Technology
Size
Micro Cap
Market Cap £32.8m
Enterprise Value £25.6m
Revenue £41.1m
Position in Universe 6095th / 7405

MARKET PULSE-Amerisource, Hovnanian, Affymax, Sarepta, BofA, Lululemon

Tue 19th March, 2013 2:40pm

March 19 (Reuters) - Some U.S. stocks on the move on Tuesday:

(For more market insights, including options activity, click on

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WALL STREET CLIMBS, SUPPORTED BY HOUSING MARKET DATA

Wall Street edged up on Monday after two sessions of declines, buoyed by signs the U.S. housing market recovery is gathering pace and as investors shrugged off developments in Cyprus that may lead the country into default.

The Dow Jones industrial average .DJI was up 44.81 points, or 0.31 percent. The Standard & Poor's 500 Index .SPX was up 3.83 points, or 0.25 percent. The Nasdaq Composite Index .IXIC was up 9.99 points, or 0.31 percent. .N

** AMERISOURCEBERGEN ABC.N , $51.32, up 6 pct (0950 ET)

** WALGREEN CO WAG.N , $45.15, up 6 pct (0950 ET)

** CARDINAL HEALTH INC CAH.N , $42.95, down 7 pct (0950 ET)

Walgreen Co WAG.N and partner Alliance Boots ABN.UL said on Tuesday they signed a 10-year deal with AmerisourceBergen and will take up to a 23 percent stake in the distribution company, ending Walgreen's current contract with Cardinal Health Inc.

The agreement with Walgreen, the largest U.S. drugstore chain, and Alliance Boots, the European health and beauty chain in which Walgreen has a 45 percent stake, will boost AmerisourceBergen's revenue by $28 billion and earnings by 20 cents per share in fiscal 2014. ID:nL3N0CBQC7

** KB HOME KBH.N , $21.23, up 4 pct (1015 ET)

** TOLL BROTHERS INC TOL.N , $35.00, up 3 pct (1015 ET)

** LENNAR CORP LEN.N , $41.84, up 0.6 pct (1015 ET)

** HOVNANIAN ENTERPRISES INC HOV.N , $6.38, up 7 pct (1015 ET)

** PULTEGROUP INC PHM.N , $21.06, up 2 pct (1015 ET)

Groundbreaking to build U.S. homes rose in February and new permits for construction climbed to the highest level since 2008, government data showed on Tuesday, signaling the nation's housing market recovery is gathering steam. ID:nL6N0CBCMB

A strong U.S. housing recovery has given homebuilders an upper hand in increasing prices along with improving demand, Raymond James said. The brokerage increased its earnings estimates for all listed homebuilders and upgraded the stocks of KB Home, Lennar and Toll Brothers.

** AFFYMAX INC AFFY.O , $1.23, down 58 pct (0949 ET)

The drugmaker said on Monday that it was considering selling itself or filing for bankruptcy among a range of alternatives, as it struggles to stay afloat following the recent recall of its sole commercial product, anemia drug Omontys.

ID:nL3N0CADM0

** HARVEST NATURAL RESOURCES INC HNR.N , $3.19, down 42 pct (0948 ET)

The oil and gas producer said it had identified some accounting errors and it might have to restate results for some periods in the last three years. ID:nL3N0CBQHI

Harvest Natural also estimated a full-year loss of about $9.6 million, or 26 cents per share, for 2012.

** MER TELEMANAGEMENT SOLUTIONS LTD MTSL.O , $3.32, down 34 pct (0948 ET)

The company, which provides products and services to manage telecommunications expenses, said one of its customers, Simple Mobile, intends to migrate its hosted billing services to its own platform.

MTS had last year entered into a one-year agreement with the company, a part of TracFone, to provide hosted billing services for minimum monthly payments of $300,000 for 2013. "It is unlikely that we will receive significant revenues from TracFone in 2014," MTS said in a release. ID:nPn3197519

** INTERSECTIONS INC INTX.O , $9.27, down 16 pct (0939 ET)

The provider of indentity theft protection said on Monday its full-year revenue will fall as much as 15 percent as regulatory scrutiny causes financial services companies to pull back on marketing its products. ID:nL3N0CAEQD

** LATTICE SEMICONDUCTOR CORP LSCC.O , $5.14, up 8 pct (0959 ET)

The company said it now expects first-quarter revenue to rise by 6-8 percent from the preceding quarter, rather than fall 2-4 percent as it had expected earlier. ID:nL3N0CBNEX

Lattice, which makes customizable chips used in telecom equipment and electronic appliances, cited increased revenue from its communications and consumer businesses as the reason for the revision.

** NPS PHARMACEUTICALS INC NPSP.O , $10.65, up 18 pct (0947 ET)

NPS has regained full worldwide rights to a pair of drugs from Japan's Takeda Pharmaceutical Co 4502.T in exchange for $50 million in NPS common shares, the companies announced on Tuesday. ID:nN9E8KD023

Under the deal, NPS will have worldwide rights to develop and sell teduglutide, a treatment for a rare condition called short bowel syndrome, sold in Europe as Revestive and in the United States as Gattex, and for an osteoporosis drug sold in Europe under the brand name Preotact.

** GMX RESOURCES INC GMXR.N , $3.55, down 11 pct (0947 ET)

The oil and gas producer reiterated that it may seek bankruptcy protection if it is not able to reach a consensual alternative for restructuring its balance sheet. The company also said it had not been able to file its annual report as it had been focused on discussions with lenders and finding financing alternatives. ((http://link.reuters.com/wuk76t))

** FUTUREFUEL CORP FF.N , $12.25, down 10 pct (0939 ET)

The chemicals and biofuels maker posted a fourth-quarter profit that missed analysts' estimates as revenue from two of its largest customers fell due to the expiration of a $1-per-gallon tax credit for biodiesel. ID:nGNXUXJAIa

** DSW INC DSW.N , $60.86, down 9 pct (0947 ET)

** STEVEN MADDEN LTD SHOO.O , $43.20, down 3 pct (0956 ET)

The footwear retailer said it was off to a slow start in 2013 as it experienced weak sales trends in the first six weeks of the year, prompting it to forecast flat same-store sales for the first half of the year. The company also posted fourth-quarter results that missed Wall Street expectations.

ID:nPnCL79344

Steven Madden's shares were also down on the news.

** NETSOL TECHNOLOGIES INC NTWK.O , $11.48, up 5.8 pct (1005 ET)

The company, which provides software and IT services for financial, automotive leasing and healthcare companies, said it had won a contract with a Japanese auto captive-finance company based in Thailand. ID:nGNXUXJTSa

** CLIFFS NATURAL RESOURCES INC CLF.N , $20.59, down 5 pct (1002 ET)

Big iron ore miners, including Rio Tinto, cautioned of volatile markets and softer prices as growth in China's steel production slows. Benchmark 62-percent-grade iron ore

.IO62-CNI=SI stood at $134.60 a tonne on Tuesday, hovering just above a near three-month low hit late last week, pressuring shares of iron ore and metallurgical coal producer Cliffs Natural. ID:nL3N0CB6Q5

** ACADIA PHARMACEUTICALS INC ACAD.O , $6.50, up 5 pct (0936 ET)

Jefferies initiated coverage of the drugmaker with a "buy" rating and a $13 price target. The brokerage said Acadia's antipsychotic drug for treating Parkinson's disease would be able to, in a final late-stage study, replicate the favorable efficacy data of an earlier trial.

** JUNIPER NETWORKS INC JNPR.N , $19.20, down 5 pct (0943 ET)

Goldman Sachs downgraded the network equipment maker to "sell" from "neutral", saying Alcatel-Lucent and Cisco Systems Inc CSCO.O are expected to take market share from Juniper.

"We see continued share loss to Palo Alto Networks PANW.N and others, as Juniper's products still have certain gaps compared to the competition, such as the reporting features," analyst Simona Jankowski wrote in a note.

The company's expected transition to a software model may have a cannibalistic effect as Juniper begins to sell software licenses on an as-needed basis as opposed to the traditional model of up-front hardware sales, the note said. The brokerage also cut its price target on the stock to $17 from $21.

** CHIQUITA BRANDS INTERNATIONAL INC CQB.N , $7.73, up 5 pct (0938 ET)

The fruit and vegetable distributor's chief executive, Ed Lonergan, revealed in a regulatory filing that he had acquired 50,800 shares of the company for about $367,000. The price implies an average purchase value of $7.22 per share.

ID:nWSA27W7lq

** LULULEMON ATHLETICA INC LULU.O , $62.73, down 5 pct (0946 ET)

The Canadian company is pulling shipments of unexpectedly sheer women's yoga pants from its stores, in a move the athletic clothing maker said would hurt its bottom line. ID:nL1N0CAFCC

** HOSPITALITY PROPERTIES TRUST HPT.N , $25.82, down 5 pct (0946 ET)

The owner of hotels and travel centers said it was raising money through an offering of 10 million shares to pay down debt.

ID:nBw186472a

** SKULLCANDY INC SKUL.O , $5.58, up 5 pct (0945 ET)

The maker of trendy headphones named the head of Nike Inc's

NKE.N Nike+ Digital Sport as its chief executive, as it deals with the loss of a major customer and looks to rein in costs related to international expansion. ID:nL3N0CAAP1

** HOLLY ENERGY PARTNERS LP HEP.N , $40.29, down 5 pct (0935 ET)

The company, which operates petroleum product and crude pipelines, priced its offer of 1.87 million common units at $40.80 per unit, below Monday's closing price of $42.28 on the New York Stock Exchange. ID:nBw195947a

** LRR ENERGY LP LRE.N , $16.83, down 4 pct (1003 ET)

The oil and gas producer priced its public offering of 6 million units at $16.84 per unit, below Monday's closing price of $17.50. ID:nBw27vNHWa

** CRESTWOOD MIDSTREAM PARTNERS LP CMLP.N , $23.75, down 4 pct (0937 ET)

The company, which transports natural gas and related liquids, priced its public offering of 4.5 million common units at $23.90 per unit, below Monday's closing price of $24.85 on the New York Stock Exchange. ID:nMKW98004a

** KOHL'S CORP KSS.N , $46.94, down 3 pct (1021 ET)

Brokerage Morgan Stanley cut its rating on the stock to "underweight" from "equal weight", according to theflyonthewall.com. ID:nWNAB01177

** USA MOBILITY INC USMO.O , $12.32, down 3 pct (0938 ET)

The paging and wireless services provider on Monday delayed the reporting of its fourth-quarter and full-year 2012 results, citing a "material weakness" related to its software revenue recognition process. ID:nBwbkJ0QVa

The company did not provide a new date for reporting its fourth-quarter and full-year results.

** SAREPTA THERAPEUTICS INC SRPT.O , $34.20, up 3 pct (0944 ET)

Deutsche Bank analyst Robyn Karnauskas initiated coverage on the company with a "buy" rating, saying its experimental drug to treat Duchenne muscular dystrophy, a genetic disorder that causes progressive muscle loss, is likely to get U.S. approval by mid-2015.

"We see eteplirsen as having a better safety profile versus its competitor Drisapersen that will allow it to take majority share," Karnauskas wrote in a note to clients. Drisapersen is being tested by GlasxoSmithKline Plc GSK.L in a late-stage trial, while eteplirsen is in a mid-stage study.

** TICC CAPITAL CORP TICC.O , $10.19, down 3 pct (0955 ET)

The business development company priced an offering of 3 million shares at $10.20, at a discount to its Monday closing price. The offering is expected to raise $30.6 million.

ID:nMKW98222a

** CHESAPEAKE ENERGY CORP CHK.N , $21.72, down 2 pct (0941 ET)

The second-largest U.S. natural gas company gave more details about its plan to raise $2.3 billion by selling senior notes. It will use the proceeds to buy some of its debt due 2013 and 2018. ID:nBwb633tka

** EBAY INC EBAY.O , $50.94, up 1.6 pct (0943 ET)

Cantor Fitzgerald upgraded the e-commerce company's stock to "buy" from "hold", saying it expects the number of active users of its online marketplace to increase as it adds branded retailers and other features.

"We expect to see a positive impact on growth in international markets as many of these changes are rolled out outside the U.S.," analyst Youssef Squali said in a note. The impact of the new "digital wallet" fee on the company's PayPal business was also likely to be "manageable", Squali added.

** BANK OF AMERICA CORP BAC.N , $12.75, up 1.5 pct (0942 ET)

Bank of America's shares recovered slightly after Cyprus's government proposed on Tuesday to spare small savers from a tax on bank deposits, in a last-minute attempt to win parliamentary backing for an international bailout and avoid a default and a banking collapse. ID:nL6N0CB53I

(Compiled by Pallavi Ail in Bangalore; Editing by Sreejiraj Eluvangal)

((pallavi.ail@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 4135 5800)(Reuters Messaging: pallavi.ail.thomsonreuters.com@reuters.net))

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