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Sept 13 Some U.S. stocks on the move on Friday:
WALL ST EDGES UP AT OPEN AFTER DATA, FED EYED
U.S. stocks edged up at the open after retail sales and
wholesale inflation data did little to alter market expectations
the Federal Reserve may begin to scale back its stimulus
measures next week. The Dow Jones industrial average rose
0.27 percent, the S&P 500 gained 0.18 percent and the
Nasdaq Composite added 0.21 percent.
** LAKELAND INDUSTRIES INC, $5.70, up 37 pct (10:45
The safety gear retailer's second-quarter earnings more than
doubled to $4.2 million, or 74 cents per share, helped by higher
revenue from the United States and China and lower operating
** ROCKWELL MEDICAL INC, $9.75, up 18 pct (1043 ET)
Craig-Hallum Capital analyst Charles Haff initiated coverage
of the stock with a "buy" rating, saying the company's revenue
would triple by 2015 as its lead experimental drug would be
adopted by dialysis providers looking to cut costs under changed
medical reimbursement rules. He said the drug, Soluble Ferric
Pyrophosphate, would save money for dialysis providers, who are
incented to control drug costs as the Centers for Medicare &
Medicaid Services moved to fixed reimbursement, instead of
reimbursing them when they dispensed drugs to patients.
** OCI RESOURCES LP, $17.87, down 6 pct (10:14 ET)
Shares of the company were down more than 6 percent in their
market debut after the IPO of 5 million common units were priced
at $19 apiece.
** GSV CAPITAL CORP, $13.77, up 13 pct (9:53 a.m.
The investment management firm holds more than $37 million
stock of Twitter Inc, which filed for an initial public offering
on Thursday. The value of the Twitter investment, as of June 30,
is 15 percent of GSV's net portfolio.
** SINA CORP, $86.15, up 2 pct (9:52 a.m. ET)
Shares of the company, which operates China's Weibo
microblogging website, rose after Twitter announced its IPO on
** INTEL CORP, $23.22, up 2.6 pct (9:54 a.m. ET)
Jefferies and Co upgraded the chipmaker's stock to "buy"
from "hold", saying the company was focusing on making
microprocessors that are lower power, higher performance and
cheaper than those offered by competitors. "This new focus
should translate to share gains in sub-$500 tablets, 2-in-1 PCs
and handsets," analysts said in a note. The brokerage raised its
price target on the stock to $30 from $27.
** MICRON TECHNOLOGY INC, $15.71, down 3 pct (10:22
Shares of the dynamic random access memory (DRAM) chipmaker
fell in heavy trading after the world's second-largest computer
memory chipmaker SK Hynix Inc said it would increase
output at its South Korea plant to make up for loss of
production at a Chinese plant hit by a fire. SK also said it
would normalize operations at the Chinese plant.
The fire at SK Hynix's China factory has resulted in
decreased supply of DRAM, used in personal computers, and is
likely to encourage Samsung Electronics Co Ltd to
raise its PC-use DRAM output, DigiTimes reported on Friday,
citing industry sources. (link.reuters.com/gyc23v)
More than 18 million Micron shares had changed hands by
10:22 a.m. ET.
** WALTER ENERGY INC, $13.87, down 4 pct (10:05 a.m.
** ARCH COAL INC, $4.71, down 3 pct
** ALPHA NATURAL RESOURCES INC, $6.19, down 3 pct
** PEABODY ENERGY CORP, $18.06, down 3 pct
** CLIFFS NATURAL RESOURCES INC, $21.89, down 2 pct
The U.S. Environmental Protection Agency is due to unveil
next week the first batch of regulations under President Barack
Obama's new climate action plan - a carbon emissions-rate
standard for new fossil fuel power plants. If standards are as
strict as the industry expects, it could be the death knell for
new coal plant construction.
** Approach Resources Inc, $23.41, down 5 pct
(10:13 a.m. ET)
J.P. Morgan Securities downgraded the oil and gas company's
stock to "underweight" from "overweight", according to
** NEOSTEM INC, $9.70, up 4 pct (10:12 a.m. ET)
The biotechnology company said it received $515,172 from the
National Institutes of Health as the final installment of a
two-year grant to support a mid-stage trial of its cell therapy
for periodontitis, an inflammation or infection of the gums.
** PRANA BIOTECHNOLOGY LTD, $4.32, down 13 pct
(9:36 a.m. ET)
The drugmaker said results of a mid-stage study of its drug
to treat the breakdown of brain nerve cells will be delayed
until early 2014. The drug, PBT2, is also being tested in three
other clinical trials including Alzheimer's.
** GALENA BIOPHARMA INC, $1.90, down 16 pct (9:35
The biotechnology company said it would offer 17.5 million
units at $2 each, for gross proceeds of $35 million. Each unit
comprises one share and a warrant to purchase 0.35 of a share of
common stock for $2.50 per share.
** REGENERON PHARMACEUTICALS INC, $284.11, up 4 pct
(10:19 a.m. ET)
Sanofi Inc Chief Executive Chris
Viehbacher said the French drugmaker could look at raising its
stake in Regeneron to as much as 30 percent. Sanofi holds about
16 percent of the company.
Analysts at RBC Capital Markets and Lazard Capital Markets
raised their price targets on Regeneron's stock, citing good
prospects of the drugs the company is developing with Sanofi.
** INCYTE CORP, $35.77, down 4 pct (10:15 a.m ET)
The drugmaker's Chief Executive Paul Friedman sold 376,789
shares of the company at $37.32 each. (link.reuters.com/dyc23v)
** VITAMIN SHOPPE INC, $40.41, down 4 pct (10:52
Sterne Agee & Leach downgraded the nutritional products
maker's stock to "neutral" from "buy," saying the company's
same-store sales deceleration is "disturbing and hard to
explain." The brokerage also cut its price target on the stock
to $45 from $54.
** NANOSPHERE INC, $1.82, down 9 pct (9:38 a.m. ET)
The molecular diagnostics company said it would offer 15
million shares of its common stock at $1.75 each, for net
proceeds of about $24.1 million.
** PACTERA TECHNOLOGY INTERNATIONAL LTD, $6.45,
down 5 pct (9:51 a.m. ET)
China's largest technology outsourcing firm received a
reduced offer from a group led by Blackstone Group LP to
be taken private for about $600 million in cash.
** EMCORE CORP, $4.52, down 4.3 pct (10:15 a.m. ET)
The company, which makes chip-based parts for broadband,
fiber optic and satellite markets, said it will offer 2.5
million shares at $4.30 each, at a discount to the stock's
** ULTA BEAUTY, $115.34, up 15 pct (9:51 a.m. ET)
The beauty products retailer reported a 28 percent jump in
second-quarter profit on Thursday, helped by new brands and
growth in its e-commerce business.
** SUMMIT HOTEL PROPERTIES, $9.08, down 7 pct (9:41
The hotel investment company priced its public offering of
15 million shares at $9.20 each, which represents a discount of
6 percent to the stock's closing price of $9.76 on Thursday.
** STRATASYS LTD, $93.71, down 4 pct (9:50 a.m. ET)
The 3D printer maker said it would offer 4.5 million common
shares at $93 each. The company also granted the underwriters a
30-day option to purchase up to an additional 675,000 of its
shares to cover over-allotments, if any.
** SAFEWAY INC, $27.68, up 4 pct (9:50 a.m. ET)
Credit Suisse upgraded the supermarket operator's stock to
"outperform" from "neutral," according to Theflyonthewall.com.
** MARKETO INC, $35.76, down 2 pct (9:49 a.m. ET)
The enterprise software company priced the follow-on public
offering of 6 million shares at $35.50 each, a discount to their
closing price on Thursday. The company had about 37 million
shares as of Thursday, according to Thomson Reuters data.
** NQ MOBILE, $20.80, up 3 pct (10:19 a.m. ET)
The Chinese mobile internet service provider said it
launched "Music Radar", a content-based music information
retrieval app. The app is available in China for both Google
Inc's Android and Apple Inc's iOS platforms.
The stock was trading nearly two times its
average 10-day volume.
** UNITED NATURAL FOODS INC, $67.50, up 13 pct
(9:49 a.m. ET)
The distributor of natural, organic and specialty foods
reported better-than-expected results for the second quarter on
Thursday and forecast full-year sales above analysts' estimates.
** NXP SEMICONDUCTORS NV, $37.18, down 2 pct (9:48
The chipmaker said on Thursday that it would offer 25
million common shares in a secondary offering.
** DELCATH SYSTEMS INC, $0.32, down 14 pct (9:46
The medical device maker said the U.S. Food and Drug
Administration rejected its cancer therapy, and asked for more
trials, more than four months after a panel of U.S. advisers
recommended against its approval.
** SIMMONS FIRST NATIONAL CORP, $27.85, up 3 pct
(9:45 a.m. ET)
Raymond James upgraded the bank holding company's stock to
"outperform" from "market perform" after the company acquired
Metropolitan National Bank from its parent company Rogers
Bancshares Inc for $53.6 million in cash.
(Compiled by Varun Aggarwal; Editing by Don Sebastian)