BUZZ-U.S. Stocks on the Move-Apple, Microsoft, PepsiCo, Tupperware

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The S&P 500 hit a record high on Wednesday, lifted by bullish earnings from companies like Apple (NasdaqGS: AAPL - news) and Microsoft (NasdaqGS: MSFT - news) , though technical resistance and conflicts in Ukraine and the Gaza Strip kept gains in check. The Dow Jones industrial average was down 0.10 percent at 17,096.29, the S&P 500 was up 0.24 percent at 1,988.3 and the Nasdaq Composite was up 0.47 pct at 4,476.89.

** APPLE INC, $97.46, +2.89 pct

The iPhone maker's gross margin rose to 39.4 percent in the third quarter from 36.9 percent a year earlier, and the company forecast current-quarter margins of 37-38 percent, raising hopes that it may be able to hold the line on pricing ahead of the launch of new iPhones later this year.

** MICROSOFT CORP, $45.24, +0.91 pct

The world's largest software company said it aims to get its loss-making Nokia phone unit to break even within two years.

Microsoft reported a 7 percent dip in quarterly profit on Tuesday, chiefly due to incorporating Nokia's struggling handset business.

** BOEING CO (NYSE: BA - news) , $126.75, -2.30 pct

The aircraft maker reported a 52 percent increase in quarterly profit, helped by higher commercial plane deliveries, but investors were spooked by risisng costs in its military tanker program.

** DOW CHEMICAL Co, $53.94, +3.14 pct

The company reported a better-than-expected quarterly profit as sales rose across its businesses and margins improved due to higher prices and a tight control on costs.

** PEPSICO INC (NYSE: PEP - news) , $91.63, +2.76 pct

The company reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America.

** TUPPERWARE BRANDS CORP, $76.36, -9.89 pct

The maker of colorful food containers forecast full-year earnings of $5.40-$5.50 per share excluding items, below the analysts' average estimate of $5.73. The company's second-quarter sales of $674.3 million also fell short of the analysts' average forecast of $687.2 million.

** ONCOTHYREON INC (NasdaqGS: ONTY - news) , $3.37, +20.36 pct

** DARA BIOSCIENCES INC (NasdaqCM: DARA - news) , $1.46, +17.74 pct

** ARRAY BIOPHARMA INC (NasdaqGM: ARRY - news) , $4.61, +17.30 pct

** CELLDEX THERAPEUTICS INC (NasdaqGS: CLDX - news) , $13.9252, +9.22 pct

** PUMA BIOTECHNOLOGY INC (NYSE: PBYI - news) 'S, $230.76, +290.92 pct

Breast cancer drug developers surged after Puma Biotechnology's breast cancer drug met the main goal in late-stage trial.

Array and Oncothyreon are jointly testing their drug, ONT-380, which is in early-stage trials, while DARA's Soltamox is already approved in the United States for breast cancer.

** DORAL FINANCIAL CORP, $6.429, +36.79 pct

Puerto Rico's top court ordered a lower court to expedite a hearing in the lender's tax dispute case with the island's government. The lender sued the government in May for voiding an agreement that required the Treasury Department to pay the company about $230 million in a tax refund.

A lower court's decision that it lacked jurisdiction to hear the case was overturned by an appeals court earlier this month.

** KING DIGITAL ENTERTAINMENT PLC (Xetra: A1XFJ3 - news) , $19.38, -6.15 pct

BofA Merrill Lynch cut its rating on the "Candy Crush Saga" developer's stock to "neutral" from "buy", according to theflyonthewall.com. (http://bit.ly/1rKz0lf)

** INTUITIVE SURGICAL INC (NasdaqGS: ISRG - news) , $447.5, +14.11 pct

Intuitive said on Tuesday that it sold more of its high-priced robot surgical systems in the second quarter than in its dismal first quarter, even as the once fast-growing company posted its fifth straight quarterly earnings decline.

Jefferies & Co raised its price target on the company's stock to $500 from $465. Out of 22 analysts covering the stock, 12 have a "buy" or higher rating, 8 have "hold" and 2 have a "sell" or lower rating.

** DELTA AIR LINES (NYSE: DAL - news) , $38.86, +3.13 pct

The airline reported a higher second-quarter profit on Wednesday as it flew fuller planes and enjoyed higher passenger revenue in the United States and Europe.

The airline will extend its suspension of flights to Israel on Wednesday amid hostilities between Israel and the militant group Hamas, its chief executive said on CNBC.

** BIOGEN IDEC INC (NasdaqGS: BIIB - news) , $338.195, +11.37 pct

Biogen Idec reported sharply higher-than-expected quarterly revenue on surging sales of its new Tecfidera treatment for multiple sclerosis, and the company raised its full-year profit forecast.

** NATUS MEDICAL INC (NasdaqGS: BABY - news) , $26.77, +1.13 pct

The medical device maker's second-quarter profit surged 93 percent, beating analysts' estimates for the eight straight quarter.

Sales rose in the company's neurology and newborn care businesses. The company also raised its full-year adjusted earnings outlook to $1.20-$1.23 per share from $1.18 to $1.21. The company also raised revenue forecast to $347.5 million-$352.5 million from $345.0 million-$350.0 million.

** EMC CORP, $28.73, +0.74 pct

The world's largest data storage equipment maker, under pressure from activist investor Elliott Management to boost shareholder returns, accelerated its share buyback plan and raised its current-year profit forecast.

** VMWARE INC (NYSE: VMW - news) , $96.63, +0.62 pct

The virtualization software maker's second-quarter revenue rose a better-than-expected 17 percent as more customers signed up.

Brokerage CLSA raised its rating on the stock to "buy" from "outperform", while two brokerages cut their price targets on the company's stock. Twenty eight of 43 brokerages rated the stock "buy" or higher, while 13 had a "hold" rating and two rated the stock "sell" or lower.

** IROBOT CORP, $35.35, -8.87 pct

The robot maker forecast earnings of 32 cents to 35 cents on revenue of $133 million to $136 million for the third quarter ending Sept. 27 - below the analysts' average expectation of a profit of 36 cents per share on revenue of $149.6 million.

The company also cut its full-year revenue forecast to $555 million-$565 million from $560 million-$570 million.

** XILINX INC (NasdaqGS: XLNX - news) , $41.23, -14.37 pct

** ALTERA CORP (NasdaqGS: ALTR - news) , $33.43, -4.54 pct

The chipmaker forecast disappointing revenue for the second quarter after reporting lower-than-anticipated first-quarter sales due to weak sales to telecom, aerospace and defense customers.

Shares (Frankfurt: DI6.F - news) of rival Altera Corp also fell on the news.

** JUNIPER NETWORKS INC (NYSE: JNPR - news) , $22.38, -9.83 pct

** LATTICE SEMICONDUCTOR, $7.58, -6.88 pct

The network gear maker forecast current-quarter revenue and profit below analysts' expectations, citing delays in closing the sale of its routing devices to some customers in North America.

BofA Merrill Lynch cut its rating on stock to "neutral" from "buy", according to theflyonthewall.com. At least 11 brokerages cut their price targets on the company's stock. BMO was the most bearish with a $24 target.

The median price target on the stock has fallen to $28 from $30 in the past 30 days, according to Thomson Reuters data. Fifteen of 40 brokerages rate the stock "buy" or higher, while 23 have a "hold" rating and two rate the stock "sell".

Shares of rival Lattice Semiconductor also fell.

** INVESTMENT TECHNOLOGY GROUP, $18.79, +2.85 pct

Philadelphia Financial Managing Partner Jordan Hymowitz bought the brokerage's shares on the view that the stock was trading below its intrinsic value. Hymowitz, who owned 6.3 percent stake in Investment Technology (NYSE: ITG - news) as of July 15, is seeking to influence the board to change the CEO and/or to sell company. (http://1.usa.gov/WBzY9e)

** GLAXOSMITHKLINE PLC (Other OTC: GLAXF - news) , $50.47, -5.17 pct

The drugmaker's second-quarter sales fell more than expected as its lung drugs struggled in the United States.

GSK expects its 2014 earnings per share to be "broadly similar to 2013."

** HERCULES OFFSHORE INC (NasdaqGS: HERO - news) , $3.8, -5.94 pct

The offshore drilling company's second-quarter income from continuing operations fell more than 60 percent, hurt by a slowdown in U.S. drilling activity.

The company said it expects third-quarter results to be hurt by "current operational challenges."

** GENERAL DYNAMICS CORP (NYSE: GD - news) , $119.99, +1.21 pct

The maker of Gulfstream jets, tanks and U.S. Navy ships, reported a better-than-expected quarterly profit, as lower operating costs boosted margins. The company said operating margins rose to 12.7 percent in the second quarter ended June 29, from 12.3 percent a year earlier.

** CONMED CORP, $37.285, -12.72 pct

The medical technology company's CEO, Joesph Corasanti, stepped down.

Separately the company's second-quarter sales missed analysts' estimates due to lower sales of surgery devices.

The company also cut its full-year adjusted earnings forecast.

** HAWAIIAN HOLDINGS INC (NasdaqGS: HA - news) , $14.6098, +12.64 pct

The airline operator reported late on Tuesday second-quarter earnings of 35 cents per share, excluding items, higher than the 33 cents per share analysts had expected, according to Thomson Reuters I/B/E/S. The company said it would add six Airbus A330s to its fleet beginning 2019 at list price of $2.9 billion.

** SEI INVESTMENTS CO, $33.43, +3.18 pct

The investment management company reported earnings that beat the analysts' average estimate as the company made more money from asset management and information processing fees.

** YINGLI GREEN ENERGY HOLDING CO LTD, $3.58, +3.77 pct

The Chinese solar panel maker signed an agreement to supply 32 megawatts of solar modules to a large-scale project in Okayama, Japan.

The project, which will be financed by GE Energy Financial Services, expects to generate 37 gigawatt/hour of solar power.

** ALLSCRIPTS HEALTHCARE SOLUTIONS INC (NasdaqGS: MDRX - news) , $16.85, +1.54 pct

Jefferies analysts raised their rating on the healthcare technology company's stock to "buy" from "hold." Analysts believe that Allscripts is approaching an improvement in revenue performance in the near-term. Two key acquisitions, dbMotion and Jardogs, provided the company with new traction, analysts said.

Of 30 analysts covering the stock, 14 have a "hold" rating, 10 have "buy", 5 have "strong buy" and one has "sell".

** THERMO FISHER SCIENTIFIC INC (NYSE: TMO - news) , $123.67, +0.50 pct

The world's largest maker of scientific instruments reported a higher-than-expected second-quarter profit in its first full quarterly results to include its acquisition of genetic testing company Life Technologies Corp.

** XOOM CORP, $22.81, -2.27 pct

The money transfer company said it could post an adjusted loss in the third quarter. On an adjusted basis, the company expects net results to range between a loss of 1 cent per share and a profit of 2 cents per share on revenue of $39 million to $41 million.

** INOVIO PHARMACEUTICALS INC (AMEX: INO - news) , $12.71, +14.09 pct

The drug developer said its drug to treat abnormal growth of pre-cancerous cells on the surface of the cervix met its main goal in a mid-stage trial.

** CUBIST PHARMACEUTICALS INC (NasdaqGS: CBST - news) , $62.19, -5.34 pct

Cantor cut its price target on the drugmaker's stock to $64 from $73, while JMP Securities cut its rating to "market perform" from "market outperform." Of the 18 analysts covering the stock, six have a "hold" rating and 12 rate it "buy" or higher. The stock has a median price target of $85.

** TALISMAN ENERGY INC (Toronto: TLM.TO - news) , $10.9, +10.66 pct

Spanish oil company Repsol SA is considering a bid for Canada-based Talisman Energy, Bloomberg reported, citing people familiar with the matter.

Repsol identified Talisman as a top target and is working with JPMorgan Chase & Co (Xetra: 850628 - news) , the Bloomberg report said.

** MEETME INC (NasdaqCM: MEET - news) , $2.1201, -8.22 pct

The social media technology company priced an offering of 5 million shares at $2 each.

The offering represents 12.9 percent of the company's total outstanding shares as of May 9.

** AIR PRODUCTS AND CHEMICALS INC, $133.74, +2.62 pct

The industrial gas producer reported a 9 percent rise in quarterly profit, driven by higher sales by its merchant gases, and electronics and performance materials divisions.

** JANUS CAPITAL GROUP INC, $12.41, -2.05 pct

The investment management firm reported increased withdrawals of cash by investors. Long-term net outflows rose to $3.3 billion in the second quarter, from net outflows of $1.7 billion in the first quarter.

** BALLARD POWER SYSTEMS INC (Toronto: BLD.TO - news) , $4.2799, +3.13 pct

The fuel cell product maker got an order from New Flyer Industries for supply to a North American bus manufacturer, with deliveries planned for later this year.

** LITHIA MOTORS INC (NYSE: LAD - news) , $94.42, +4.41 pct

The U.S. auto dealer's second-quarter profit and sales beat analysts' estimates. The company's same-store sales rose across all four business lines for the first time in its history.

The company also forecast third-quarter and full-year 2014 earnings above analysts' estimates.

** BROADCOM CORP (NasdaqGS: BRCM - news) , $39.17, +1.08 pct

The chipmaker said on Tuesday that it was winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit.

** LG DISPLAY CO LTD, $16.22, -0.67 pct

LG Display said its quarterly profit fell more than 50 percent for the second time in three quarters, pulled down by a stronger South Korean won and subdued demand for personal computers (PC) and tablet devices.

** FREEPORT-MCMORAN INC, $38.665, -0.14 pct

The U.S.-based copper, gold and oil producer said it expects to sign a memorandum of understanding with Indonesia "imminently" and the agreement would immediately allow it resume copper concentrate exports, which have been halted for more than six months.

(Reporting By Shubhankar Chakravorty in Bangalore; Editing by Simon Jennings)