Nov 8 (Reuters) – Some U.S. stocks on the move on Thursday:
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WALL ST OPENS FLAT AFTER SELLOFF
U.S. stocks opened flat as investors continued to worry
about the looming fiscal cliff debate even as data showed new
claims for unemployment benefits unexpectedly fell last week.
The Dow Jones industrial average was up 0.01 percent, the
Standard & Poor’s 500 Index up 0.09 percent, and the
Nasdaq Composite Index up 0.29 percent.
** DUSA PHARMACEUTICALS INC, $7.96, up 38 pct (1002
ET)
India’s Sun Pharmaceutical Industries Ltd will pay
about $230 million for the pharmaceutical company to gain access
to the skin treatment market in the United States and complement
the dermatology business.
** GENOMIC HEALTH INC, $27.42, down 14 pct (1011
ET)
the cancer test-maker’s quarterly revenue fell 2 percent
below consensus estimates on Wednesday on weaker testing
volumes, prompting the company to cut the mid-point of its
volume forecast for the year.
** CATALYST PHARMACEUTICAL PARTNERS INC, $0.61,
down 58 pct (1000 ET)
The pharmaceutical company said a mid-stage trial of its
drug to treat cocaine addiction failed to meet the main goal of
ensuring more patients abstained from cocaine after seven weeks
of treatment, compared with those on a placebo.
** INTERMUNE INC, $9.49, up 16 pct (1000 ET)
The company reported on Wednesday a better-than-expected
third-quarter revenue helped by higher sales of its lung
scarring drug Esbriet in Germany. Brokerage Canaccord Genuity
raised the stock to buy from hold rating.
** BIOCRYST PHARMACEUTICALS INC, $1.49, down 39 pct
(0959 ET)
The company said on Wednesday an independent data-monitoring
committee recommended that a late-stage study of its
experimental influenza drug be terminated as the trial was not
likely to meet the goals.
The company also reported a smaller-than-expected
third-quarter loss.
Brokerage JMP Securities cut its price target on the
stock.
** PALATIN TECHNOLOGIES INC, $0.99, up 53 pct [0936
ET]
The biopharmaceutical company said its experimental drug to
treat female sexual dysfunction brought about a statistically
significant increase in the number of satisfying sexual events
in females in a mid-stage study. Roth Capital Partners analyst
Joseph Pantginis raised his price target on the stock to $6 from
$4.75, while keeping the “buy” rating on it.
** SAVIENT PHARMACEUTICALS INC, $1.10, down 21 pct
(1008 ET)
The drugmaker reported a bigger-than-expected quarterly loss
as its gout drug Krystexxa continued seeing weak
adoption.
** BIOSCRIP INC, $9.97, up 13 pct (0939 ET)
The pharmacy and home health services provider reported
quarterly results that met analysts’ estimates on Wednesday and
backed its 2012 forecast even as it was assessing the impact of
superstorm Sandy on its home health services segment.
** SEATTLE GENETICS, $23.75, down 3 pct (1001 ET)
The cancer-focused biotechnology company reported a
lower-than-expected revenue, prompting Cantor Fitzgerald to
downgrade the company’s stock to “sell”.
** TEEKAY TANKERS, $3.05, down 10 pct (1013 ET)
The Bermuda-based company, which operates ships for
transporting crude oil, cut its third-quarter dividend to 2
cents per share from 11 cents per share paid in the second
quarter. It also reported a bigger-than-expected loss for the
third quarter. [ID: nASA054LU]
** BOEING CO, $70.74, up 0.8 pct (0947 ET)
The aircraft maker said on Wednesday it will restructure its
defense, space and security business and cut 30 percent of
management jobs from 2010 levels as part of a cost-cutting
drive.
** RESEARCH IN MOTION LTD, $8.48, up 3 pct (1002
ET)
The struggling phone maker said it has won a much-coveted
U.S. government security clearance for its yet-to-be launched
platform for BlackBerry 10 devices that are expected to hit
store shelves in the first quarter of 2013.
** AMC NETWORKS INC, $55.11, up 14 pct (0949 ET)
The company reported better-than-expected quarterly results
as the soaring popularity of such shows as “Walking Dead”
boosted carriage fees and advertising revenue.
** CBS CORP, $35.08, up 3 pct (0949 ET)
The highest-rated U.S. channel in terms of overall viewers
topped Wall Street expectations with a higher quarterly profit
boosted by more revenue from the licensing of TV shows and fees
paid to its cable networks.
** BLOOMIN’ BRANDS INC, $13.73, up 12.9 pct
(0941ET)
The casual dining chain reported a third-quarter profit that
beat market estimates and raised its full-year adjusted earnings
forecast on Wednesday as promotions attracted customers to its
Outback Steakhouse, Bonefish Grill and Fleming’s Prime
Steakhouse restaurants.
** MONSTER WORLDWIDE INC, $6.35, up 11 pct (0948 ET)
The online recruitment firm reported a higher quarterly
profit from continuing operations and said it is pursuing a sale
of its business in China, among other restructuring activities.
** NOVATEL WIRELESS INC, $1.65, down 3.5 pct (0958
ET)
The wireless telecommunications equipment maker reported
lower-than-expected third-quarter results on Wednesday and
forecast current-quarter results below analysts’ estimates,
prompting at least three brokerages to cut their price targets
on the stock.
** MONSTER BEVERAGE CORP, $42.02, down 6 pct (0957
ET)
The energy drinks maker, facing investigations into the
safety of its products, reported a smaller-than-expected
quarterly profit on Wednesday as it stepped up promotional
spending.
** DEAN FOODS CO, $16.96, up 5 pct (0957 ET)
The dairy company reported a better-than-expected quarterly
profit, helped by cost cuts and strong sales in its
higher-margin WhiteWave-Alpro business, which was spun off last
month.
** WENDY’S CO, $4.42, up 4 pct (0956 ET)
The second-largest U.S. hamburger chain doubled its dividend
and reported a 2.7 percent increase in quarterly same-store
sales in North America company-operated restaurants.
** KOHL’S CORP, $52.80, down 3 pct (0954 ET)
The department store operator reported a slightly higher
third-quarter profit as sales perked up later in the period, and
forecast same-stores sales will rise during the current holiday
quarter.
** GREEN MOUNTAIN COFFEE ROASTERS INC, $25.28, up 2
pct (0953 ET)
The coffee company unveiled details of the single-cup
espresso machine it will launch with Italy’s Luigi Lavazza SpA,
marking its entry into the espresso, cappuccino and latte brewer
category.
** QUALCOMM INC, $62.29, up 7 pct (0953 ET)
The company posted quarterly earnings and revenue that blew
past Wall Street expectations on Wednesday as demand increased
for chips used in devices such as Apple’s iPhone.
** UNIVERSAL DISPLAY CORP, $24.00, down 15 pct
(0952 ET)
The LED supplier reported a surprise quarterly loss on
Wednesday and cut its full-year revenue forecast.
** WINDSTREAM CORP, $8.54, down 9 pct (0952 ET)
The telephone company’s third-quarter profit narrowly missed
estimates as operating costs jumped. The company also lowered
its full-year EBITDA outlook to between $2.41 billion and $2.43
billion, from between $2.43 billion and $2.50 billion.
** CONCUR TECHNOLOGIES INC, $58.89, down 9 pct
(0951 ET)
The software company, whose products are used to manage
employee spending, reported earnings and revenue that fell short
of estimates on Wednesday.
** CANADIAN NATURAL RESOURCES LTD, $28.08, down 3.5
pct [0959 ET]
Canada’s biggest independent oil and gas producer reported a
57 percent fall in quarterly profit on weak prices, and cut its
full-year forecast for crude oil and natural gas liquids
output.
** CHIQUITA BRANDS INTERNATIONAL INC, $7.50, up 5
pct (0955 ET)
The banana distributor reported quarterly loss on Wednesday
and warned of difficult year-over-year comparisons in the fourth
quarter.
** WHOLE FOODS MARKET INC, $92.80, down 3 pct (0956
ET)
The largest U.S. natural and organic grocery chain reported
a profit rise in line with forecasts on Wednesday but said
superstorm Sandy has dragged sales this quarter.
(Compiled by Avik Das in Bangalore)
