MARKET PULSE- Arqule, Ford, MSCI, Metro PCS, Skechers, Core Labs
Oct 2 (Reuters) - Some U.S. stocks on the move on Tuesday:
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DOW, S&P 500 TURN NEGATIVE
The Dow and S&P 500 turned negative while the Nasdaq cut its gains in late morning on Tuesday, with materials and energy shares leading declines on the S&P.
The Dow Jones industrial average was down 44.15 points, or 0.33 percent, at 13,470.96. The Standard & Poor's 500 Index was down 0.17 point, or 0.01 percent, at 1,444.32. The Nasdaq Composite Index was up 6.60 points, or 0.21 percent, at 3,120.13.
** ARQULE INC $2.21 down 55.5 pct (1029 ET) The biotechnology company and Japan's Daiichi Sankyo Co Ltd
said they will discontinue a late-stage trial of their experimental lung cancer drug after an interim analysis showed it would not meet the main goal of improving overall survival.
** FORD MOTOR CO , $9.78, down 1.6 pct (1102 ET)
The company said Tuesday it expects U.S. September auto sales to show a gain of 12 percent from a year ago.
** MSCI INC , $28.00, down 21.8 pct (1019 ET)
Vanguard Group, the largest U.S. mutual fund manager, said it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc MSCI.N in order to cut costs.
** METROPCS COMMUNICATIONS INC , $14.16, up 23.53 pct (1037 ET)
** LEAP WIRELESS INTERNATIONAL INC , $7.95, up 13.57 pct (1037 ET)
** SPRINT NEXTEL CORP , $4.92, down 5 percent (1120 ET) Deutsche Telekom AG is in advanced talks over deal involving T-Mobile USA unit with MetroPCS, sources said. ** EXPRESS INC , $11.97, down 20.25 pct (1105 ET)
The apparel retailer cut its forecast for the current quarter as promotions failed to drive traffic, raising concerns about the holiday shopping season for the young-adult retailer and some of its competitors.
** CELL THERAPEUTICS INC , $2.61, up 17.13 pct (1026 ET)
The company said the U.S. health regulator granted an orphan drug status for its treatment of a malignant brain cancer.
** CORE LAB NVS , $104.79, down 13.2 pct (1113 ET)
The oilfield services company said it expects third-quarter profit to trail its earlier forecast on weakening activity levels in the U.S. and Canada.
For the quarter ending Sept. 30, the company now expects profit to be between $1.09 and $1.13 per share, down from a the $1.17 to $1.25 per share it estimated earlier. Barclays and FBR cut their price target on the company's stock.
** SKECHERS USA INC , $18.12, down 11 pct (1124 ET)
Susquehanna Financial Group cut the shoemaker's price target to $18 from $19 as it continues to face challenges in earning back shelf space after the fallout from its toning segment. The brokerage also said that sales in Europe, which accounts for about 20 percent of the overall revenue, continue to struggle with excess inventory.
** GOL LINHAS AEREAS INTELIGENTES , $5.68, down 9.7 pct (1050 ET)
Brazil's second- biggest airline, fell about 10 percent in early Tuesday trading, giving back gains made ahead of a late Monday press conference at which some traders had expected news of a capital injection.
** FORESTAR GROUP INC , $17.69, up 7 pct (1029 ET)
The real estate and mineral resources company named Flavious Smith as chief oil and gas officer on Monday. The real estate and mineral resources company named Flavious Smith as chief oil and gas officer on Monday.
** GLADSTONE INVESTMENT CORP , $7.31, down 6.3 pct (1012 ET)
The business development firm priced an offering of 4 million shares at a discount to its Monday close to repay short-term debt
** ARUBA NETWORKS INC , $20.88, down 6.7 pct (1126 ET)
The network gear maker said in a regulatory filing that it would not be able to file its annual report on a timely basis due to deficiencies in its information technology controls.
** OVERSEAS SHIPHOLDING GROUP INC , $6.85, up 5.5 pct (1013 ET)
Belgian crude oil shipper Euronav NV said it signed a five-year deal with Maersk Oil Qatar AS for FSO Africa, an oil shipping supertanker jointly owned by Euronav and Overseas Shipping, to provide services on the Al Shaheen field offshore Qatar.
Overseas Shipping is the world's No. 2 independent tanker operator by fleet.
** ENTROPIC COMMUNICATIONS INC , $5.30, down 5.61 pct (1016 ET)
Credit Suisse downgraded the chipmaker to "underperform" from "neutral" saying weak economy to hurt revenue growth.
The brokerage also lowered its price target on the stock to $5 from $6.50.
** GENESIS ENERGY LP $33.15, down 4.1 pct (1033 ET)
The midstream oil and gas company said it would give $32.15 per share for 6 million shares in a secondary offering. Genesis Energy's shares closed at $34.56 on Monday on the New York Stock Exchange.
** ZILLOW INC , $38.36, down 6.04 pct (1053 ET)
The Securities and Exchange Commission staff raised questions about some aspects of the annual report the real estate website filed on March 2.
The company acknowledged that these disclosures may be meaningful to investors and said it would begin evaluating and disclosing these numbers.
** SHIP FINANCE INTERNATIONAL LTD , $15.00, down 6.25 pct (1041 ET)
The company, which owns and operates a fleet of ships, said it will sell 6 million common shares and invest the proceeds from the sale to buy assets.
** SIRIUS XM RADIO INC , $2.64, up 3 pct (1130 ET)
Bank of America/Merrill Lynch started coverage of the satellite radio operator with a "buy" rating, StreetInsider.com reported.
** ACORDA THERAPEUTICS INC , $26.57, up 4 pct (0941 ET)
The drugmaker will replace outdoor-gear retailer Cabela's Inc on the S&P SmallCap 600 after the close of trading on Oct 4. It will be added to the S&P SmallCap 600 Biotechnology Sub-Industry index.
** ILLUMINA INC , $51.30, up 4.6 pct (1131 ET)
British newspaper, The Times, reported that the Swiss drugmaker Roche Holding AG may place a bid of $60 a share on the gene sequencing company.
Roche declined to comment, while Illumina could not be reached for comments immediately.
** CELGENE CORP , $78.43, up 2.14 pct (1028 ET)
The company said a late-stage trial of its cancer drug Abraxane met its main goal of improving the patient's time of survival without worsening skin cancer, when compared to standard chemotherapy.
** PETSMART INC , $68.41, up 1.25 pct (1056 ET) The company replaced Sunoco Inc in S&P 500. ** MOSAIC CO , $55.64, down 4 pct (1134 ET)
The fertilizer producer reported an 18 percent fall in quarterly profit due to drops in prices and volumes of phosphate, a key farming nutrient.
** KRONOS WORLDWIDE INC , $15.30, down 3.5 pct (1134 ET)
The titanium dioxide product maker released preliminary third-quarter results below market estimates hurt by lower volumes.
The company, whose products are used in the production of paint, plastics, laminate and paper, said it expects segment sales to fall to between $35 million to $40 million from nearly $160 million last year.
** ACUITY BRANDS INC , $60.51, down 4.1 pct (1135 ET)
The lighting fixture maker's fourth-quarter results missed market estimates, hurt by soft demand in North America.
** INTERNATIONAL RECTIFIER CORPORATION , $15.70, down 5.6 pct (1117 ET)
FBR Capital Markets downgraded chip maker to "market perform" from "out perform" and cut its price target to $19 from $23, citing continued softness chip shipment volume in China and Europe.
** URSTADT BIDDLE $19.40, down 4.8 pct (1030 ET)
The real estate investment trust announced pricing of a 2.5 million share offering at $19.60 per share.
** PVH CORP , $93.80, up 1 pct (1000 ET)
The apparel retailer raised its full-year profit forecast ahead of its meeting with Wall Street analysts on Tuesday, citing strength in its Tommy Hilfiger business in North America as well as its Calvin Klein line of clothing.
** GREEN MOUNTAIN COFFEE ROASTERS INC , $23.33, down 0.2 pct (1104 ET)
Hedge fund manager David Einhorn again made critical comments about Green Mountain Coffee Roasters Inc GMCR.O, a stock in which he publicly unveiled a short position a year ago.
(Complied by Aditi Shrivastava in Bangalore)
Keywords: MARKETS USA STOCKS/PULSE