MARKET PULSE- Arqule, GM, Ford, MSCI, Metro PCS, Express, Skechers
Oct 2 (Reuters) - Some U.S. stocks on the move on Tuesday:
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WALL ST VOLATILE AS INVESTORS AWAIT SPAIN BAILOUT NEWS
U.S. stocks were mixed to lower in a volatile session on Tuesday on uncertainty over a financial bailout for Spain and as investors worried about disappointing third-quarter U.S. earnings.
The Dow Jones industrial average was down 0.51 percent at 13,446.13, the Standard & Poor's 500 Index was down 0.21 percent at 1,441.46 and the Nasdaq Composite Index
was up 0.01 percent at 3,113.08.
** ARQULE INC , $2.30, down 53.9 pct (1241 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.
** GENERAL MOTORS , $23.82, up 3 pct (1358 ET)
Hedge fund manager David Einhorn said auto-maker General Motors "is much healthier now," and is getting its product refreshments "right."
** FORD MOTOR CO , $9.78, down 1.6 pct (1237 ET)
Pickup truck sales in September, when those sales typically strengthen, were softer than in years past.
** MSCI INC , $25.36, down 29.2 pct (1237 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 , $13.43, up 16.6 pct (1237 ET)
** LEAP WIRELESS INTERNATIONAL INC , $7.90, up 13 pct (1237 ET)
** SPRINT NEXTEL CORP , $4.98, down 3.8 percent (1237 ET)
Deutsche Telekom on Tuesday confirmed it is in talks with smaller peer MetroPCS over a combination of their operations in the United States. In a regulatory filing, Deutsche Telekom said the aim of the combination would be to operate its subsidiary T-Mobile USA and MetroPCS "within one company in which Deutsche Telekom would hold the majority of shares."
** EXPRESS INC , $11.86, down 21.1 pct (1237 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 , $2.58, up 16 pct (1243 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 , $101.57, down 16 pct (1243 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.
** RADIOSHACK CORP , $2.06, down 11.6 pct (1404 ET)
The stock extended its losing streak to four days. The struggling electronics retailer said last Thursday it raised $100 million in a new term loan, carrying a hefty interest rate of 11 percent. The stock has lost about 21 percent since Chief Executive James Gooch stepped down last Wednesday. It fell to a life-low on Tuesday.
** SKECHERS USA INC , $18.23, down 10.5 pct (1243 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 (1245 ET)
Brazil's second-biggest airline gave back gains made ahead of a late Monday press conference at which some traders had expected news of a capital injection.
** ARUBA NETWORKS INC , $20.55, down 8.2 pct (1246 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.
** FORESTAR GROUP INC , $17.68, up 7.15 pct (1245 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.
** JAMBA INC , $2.41, up 6.6 pct (1347 ET)
Wedbush Securities Inc analyst Kurt Frederick attributed the rise to Lloyd Khaner's positive comments on the juice store operator at Tuesday's Value Investing Congress in New York. Khaner, who is a partner at Khaner Capital, said he expects a good turnaround in the company and an increase in investor returns.
** OVERSEAS SHIPHOLDING GROUP INC , $6.91, up 6.5 pct (1247 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.
** BRIGHTCOVE INC , $12.74, up 6.25 pct (1341 ET)
Stifel Nicolaus said the video distribution company was a good buying opportunity. The brokerage said with the recent rollout of near-instant streaming and improved live video functionality, Brightcove has opened up revenue opportunities from customers.
** SHIP FINANCE INTERNATIONAL LTD , $15.00, down 6.25 pct (1250 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.
** COMSTOCK RESOURCES INC , $20.39, up 5.8 pct (1258 ET)
FBR Capital Markets raised the company's price target to $26 from $15.
** EXTREME NETWORKS INC , $3.49, up 5.7 pct (1329 ET)
The network gear maker said it will repurchase $75 million worth shares over the next three years, in the open market or in privately negotiated transactions.
** INTERNATIONAL RECTIFIER CORPORATION , $15.70, down 5.6 pct (1253 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.
** ENTROPIC COMMUNICATIONS INC , $5.3, down 6 pct (1248 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.
** ILLUMINA INC , $51.51, up 5.1 pct (1251 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.
** GLADSTONE INVESTMENT CORP , $7.45, down 4.8 pct (1246 ET)
The business development firm priced an offering of 4 million shares at a discount to its Monday close to repay short-term debt
** URSTADT BIDDLE $19.40, down 4.8 pct (1253 ET)
The real estate investment trust announced pricing of a 2.5 million share offering at $19.60 per share.
** CHIPOTLE MEXICAN GRILL INC , $301.60, down 4.6 pct (1423 ET)
Hedge fund manager David Einhorn said the restaurant chain will face significant competition and additional costs, making it an attractive "short."
** ZILLOW INC , $38.95, down 4.5 pct (1248 ET)
Securities and Exchange Commission staff asked the real estate website for more disclosures in its quarterly and annual reports.
** ACUITY BRANDS INC , $60.51, down 4.1 pct (1253 ET)
The lighting fixture maker's fourth-quarter results missed market estimates, hurt by soft demand in North America.
** ACORDA THERAPEUTICS INC , $26.57, up 4 pct (1250 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.
** MOSAIC CO , $55.84, down 3.7 pct (1251 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.
** SIRIUS XM RADIO INC , $2.65, up 3.5 pct (1250 ET)
Bank of America/Merrill Lynch started coverage of the satellite radio operator with a "buy" rating, StreetInsider.com reported.
** GREEN MOUNTAIN COFFEE ROASTERS INC , $23.93, up 2.65 pct (1255 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.
** GENESIS ENERGY LP $33.52, down 3 pct (1248 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.
** KRONOS WORLDWIDE INC , $15.12, up 2.3 pct (1251 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.
** CELGENE CORP , $78.32, up 2 pct (1251 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 (1251 ET) The company replaced Sunoco Inc in S&P 500. ** PVH CORP , $93.80, up 1 pct (1254 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.
(Complied by Aditi Shrivastava in Bangalore)
Keywords: MARKETS USA STOCKS/PULSE