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May 1 (Reuters) - Some U.S. stocks on the move on Wednesday:
WALL ST SLIPS ON WEAK DATA, DECLINING MATERIALS SHARES
U.S. stocks fell on Wednesday after a batch of economic data indicated weaker-than-expected growth in the world's top economies a day after the S&P 500 index closed at a record high. The Dow Jones industrial average dropped 0.45 percent, the Standard & Poor's 500 Index fell 0.42 percent, and the Nasdaq Composite Index fell 0.48 percent.
** MERCK & CO INC, $45.95, down 2 pct (1215 ET)
The drugmaker reported a surprising drop in quarterly sales of diabetes medicine Januvia, its biggest product and a frequent driver of quarterly earnings, and cut its full-year profit forecast on Wednesday.
U.S. health regulators rejected an experimental drug to treat opioid addiction made by Titan Pharma and asked for additional data showing it works, the company said. The drug, Probuphine, is a long-acting version of buprenorphine, a drug sold by British rival Reckitt-Benckiser Group Plc under the brand names Subutex and Suboxone.
The network connectivity services provider sold its global data services business to GTT, a cloud network provider, for $54.5 million on Tuesday.
It also reported better-than-expected first-quarter revenue on higher demand for its services.
The company, which helps companies build their own content delivery portals, said it will offer Verizon Communications Inc's 5 million FiOS TV subscribers access to TV shows and movies from one online portal. Verizon FiOS is a bundled Internet access, telephone, and television service that operates over a fiber-optic network.
The online video publisher reported a smaller-than-expected first-quarter loss on Tuesday. The company also forecast current-quarter and full-year revenue above estimates.
The company, which supplies chips for network infrastructure applications, reported a smaller-than-expected adjusted loss and posted revenue above estimates on Tuesday.
** REGAL BELOIT CORP, $63.12, down 20 pct (1217 ET)
The maker of electric motors, mechanical and electrical motion controls and power generation products reported a first-quarter profit below analysts' expectations, hurt by weak demand from the U.S. commercial and industrial markets.
Regal Beloit earned $1.08 per share, excluding items. Analysts on average expected earnings of $1.15 per share, according to Thomson Reuters I/B/E/S.
The company, which provides software products to healthcare companies, reported first-quarter results below analysts' estimates and cut its 2013 guidance, hurt by a shortfall in orders. It now expects a profit of 32 cents to 34 cents per share, down from its earlier forecast of 36 cents to 39 cents.
Accelrys also cut its revenue forecast to $176 million-$181 million from $185 million-to $190 million.
The company, which provides staffing solutions, reported a 24 percent drop in quarterly profit as demand for its services declined in two of its businesses.
The company forecast second-quarter earnings of $0.19 to $0.21 per share, below analysts' average estimates of $0.23 per share.
The company, which runs a real-estate search engine, reported better-than-expected first-quarter revenue on Tuesday as it saw higher traffic on its website from mobile devices, and forecast current-quarter revenue comfortably above analysts' estimates.
J.P. Morgan (Other OTC: MGHL - news) upgraded the stock to "overweight" from "neutral" and raised its price target to $41 from $34. RBC Capital (OTC BB: CGHC - news) markets raised its price target to $44 from $41.
The operator of personal finance websites reported a higher-than-expected first-quarter profit as revenue from its mortgage and deposits business increased.
Several brokerages raised their price targets on the stock.
The company reported second-quarter results above analysts' expectations due to higher shipments of its valves, hydrants and brass products. "This quarter was our best overall second-quarter performance since 2008," Chief Executive Gregory Hyland said in a statement.
** DIXIE GROUP INC, $6.8, up 13 pct (1218 ET)
The carpet and rug manufacturer's shares rose to a more than four-year high on Wednesday after the company reported a 20 percent jump in first-quarter sales in a seasonally weak quarter, as a recovering housing market helped drive demand in its residential business.
The maker of the Botox anti-wrinkle treatment said it will delay late-stage trials of its highly anticipated eye drug Darpin.
The company, which designs chipsets for video and broadband multimedia applications, reported weaker-than-expected first-quarter revenue on Tuesday, prompting Needham & Co to lower its rating on the stock to "hold" from "buy".
Mizuho Securities cut its price target to $5 from $6.
** GREEN DOT CORP $17.83, up 13 pct (1219 ET)
The prepaid debit card company's quarterly profit beat analysts' estimates as card revenue rose. The company on Tuesday also reiterated its earnings outlook for the full year.
Compass Point raised its rating on the stock to "buy" from "neutral".
** IXIA INC, $14.50, down 12 pct (1221 ET)
The company, which makes telecom network testing products, reported better-than-expected first-quarter results, but forecast second-quarter results on a conference call on Tuesday that were below analysts' estimates, citing lower federal government spending. At least three brokerages cut their price targets on the company's stock.
** ULTIMATE SOFTWARE GROUP INC, $108.39, up 12 pct (1219 ET)
The company, which provides workforce management software on cloud, reported better-than-expected first-quarter results as demand for its services rose.
Canaccord Genuity raised its rating on the stock to "buy" from "hold" and price target to $110 from $105. Stifle Nicolaus raised its price target to $110 from $108.
The network security software maker's quarterly profit modestly missed estimates, hurt by a decline in its federal business, but the company forecast a smaller-than-expected second-quarter loss.
"After seeing a number of first-quarter earnings come in below expectations, Sourcefire bucked the trend posting a solid quarter, which although slightly below the Street, was in-line with guidance," Lazard Capital analyst Joel Fishbein said in a note to clients.
** COTT CORP, $9.85, down 10 pct (1221 ET)
The Canadian soft drink maker reported a fall in its first-quarter revenue and margins as it exited some of its businesses in North America and lost market share.
** CHESAPEAKE ENERGY CORP, $19.19, up 2 pct (1221 ET)
The U.S. oil and gas company reported quarterly profit that exceeded Wall Street expectations on Wednesday, as it produced more crude oil from shale basins like the Eagle Ford in Texas and expenses fell.
** MASTERCARD INC, $540.17, down 2 pct (1221 ET)
The world's second-largest credit and debit card network reported a higher-than-expected rise in quarterly profit, but the company's revenue missed analysts' estimates as a sluggish global economy weighs on consumer spending.
** RPX CORP $14.88, up 11 pct (1222 ET)
The company, which provides patent risk management services, reported quarterly results on Tuesday that beat analysts' estimates, helped by client additions.
The network management software maker's first-quarter revenue missed analysts' estimates and it forecast current-quarter results below expectations as it struggles to sell new licenses.
** IPG PHOTONICS CORP, $58.1, down 9 pct (1221 ET)
The specialized laser maker reported lower-than-expected first-quarter revenue due to falling demand for its products and forecast second-quarter results largely below analysts' estimates. (http://r.reuters.com/sep77t)
**BIG 5 SPORTING GOODS CORP, $18.23, up 9 pct (1224 ET)
Big 5 Sporting Goods reported first-quarter results on Tuesday that comfortably beat Wall Street estimates, as more customers visited its stores, and the retailer forecast strong profit for the second quarter.
The El Segundo, California-based company said its second-quarter same-store sales had begun positively, benefiting from normal weather and a favorable shift in the Easter holiday.
Brokerages Needham & Co and SunTrust Robinson Humphrey raised their price targets on the company's stock.
** MANITOWOC CO INC, $16.98, down 9 pct (1229 ET)
The company reported first-quarter results below analysts' expectations and received fewer orders for cranes. Manitowoc earned 9 cents per share from continuing operations, excluding items, on revenue of $898 million for the first quarter. Analysts on average expected earnings of 14 cents per share on revenue of $911.6 million, according to Thomson Reuters I/B/E/S.
The company, which makes processing systems and software for commercial and defense industries, reported a 9 percent rise in quarterly revenue on Tuesday, on higher sales to defense customers.
CRT Capital raised its rating on the stock to "fair value" from "sell" on Wednesday.
** ION GEOPHYSICAL CORP, $5.76, down 8 pct (1222 ET)
The company, which provides geophysical technology, services and solutions for the global oil and gas industry, said it would offer up to $175 million of its senior notes due 2018 for sale, and use the proceeds to repay existing debt.
** TRIMBLE NAVIGATION LTD, $26.53, down 8 pct (1223 ET)
The company forecast current-quarter results below analysts' estimates, hurt by spending cuts in the United States and severe weather conditions in Europe and North America, which delayed the agricultural and construction seasons.
** SPX CORP, $69.48, down 8 pct (1223 ET)
The company, which makes equipment used in producing liquids ranging from petroleum to dairy products, reported quarterly results that missed analysts' expectations and forecast full-year earnings below estimates.
"While the performance across most of SPX was fundamentally in line with our expectations, we were disproportionally impacted in a few discrete areas, particularly in our thermal segment," Chief Executive Christopher Kearney said in a statement. "We are taking actions to address these areas and improve our performance, including accelerated restructuring plans to address our cost structure in certain European operations."
** OUTDOOR CHANNEL HOLDINGS INC, $9.38, up 7 pct (1223 ET)
Leo Hindery's InterMedia raised its offer for the cable network to $237 million in cash, outbidding a rival offer from Stan Kroenke's Kroenke Sports & Entertainment LLC.
The chipmaker reported a higher-than-expected first-quarter profit on Tuesday on higher demand for its products for mobile devices.
The operator of healthcare delivery networks on Tuesday reported a decline in patient discharges for the January-March period and lowered its full-year profit forecast.
** VONAGE HOLDINGS CORP, $2.91, down 6 pct (1105 ET)
The company, which provides voice communication services over the internet, reported lower-than-expected first-quarter revenue on Wednesday.
** CLOUD PEAK ENERGY CORP, $18.39, down 6 pct (1222 ET)
Brean Capital cut its rating on the coal miner's stock to "hold" from "buy", after the company's first-quarter results missed estimates due to higher-than-expected costs, and it lowered its earnings outlook due to persistently weak prices.
The company reported better-than-expected quarterly results, helped by the worldwide success of its animated film, "The Croods."
The life and mortgage insurer's first-quarter profit more than doubled, beating analysts' estimates, helped by strong performance in its U.S. mortgage insurance business.
The natural gas transporter reported an 8 percent decline in first-quarter profit, mainly due to lower natural gas liquids prices and ethane rejection.
** ADT CORP, $41.36, down 5 pct (1224 ET)
The company, which provides electronic security systems such as fire alarms, reported lower-than-expected second-quarter results.
** HYATT HOTELS CORP, $40.4, down 5 pct (1224 ET)
The company, which owns and operates the Park Hyatt, Grand Hyatt and Hyatt Regency hotels, posted a quarterly profit that beat analysts' estimates, helped by higher room rates as the company gained from increased demand in the United States.
The maker of minimally invasive treatments for aortic disorders said on Tuesday that it expects a delay in the launch of its Ventana system in the United States, as it had a higher-than-expected number of renal re-interventions during the first 120 procedures. Lazard cut its price target on the stock to $17 from $19.
The health insurer reported a much higher-than-expected first-quarter profit on Wednesday, but expressed uncertainty about 2014, when lower U.S. government rates for private Medicare insurance take effect.
** AMERICAN CAPITAL LTD, $14.36, down 5 pct (1228 ET)
The asset manager reported a smaller-than-expected first-quarter profit, hurt by lower fee and investment income. Fee income fell 15 percent to $11 million.
The ethanol producer's first-quarter profit handily beat analysts' average estimates due to improved margins for ethanol production and for marketing and distribution activities.
The Taiwanese chipmaker said in a filing that one of its major shareholders and largest customer, Innolux Corp, intends to sell-off its stake in the company. Innolux owned about 15 percent of the company at the end of April.
The network gear maker reported lower-than-expected third-quarter results and forecast current-quarter results below analysts' estimates.
Highfields Capital Management has increased its stake in Canadian coffee and doughnut chain Tim Hortons from 1.5 percent to around 4 percent this year, a source familiar with the situation told Reuters Wednesday.
The company reported a 6 percent drop in revenue because of a weak slate of movies from its studio Paramount Pictures, but advertising revenue turned positive during the quarter.
The company's first-quarter profit came in below analysts' average estimate as revenue from its core personal navigation devices business fell further.
** PENNSYLVANIA REAL ESTATE INVESTMENT TRUST, $20.04, down 3 pct (1227 ET)
The REIT said late on Tuesday that it would sell 10 million common shares. It intends to use the net proceeds from the offering to repay debt and for other general corporate purposes.
** DELPHI PARTS AUTOMOTIVE PLC, $44.97, down 3 pct (1248 ET)
The vehicle parts maker reported a 20 percent drop in first-quarter profit on the back of lower sales in Europe and North America, and increased its cost cutting.
The chipmaker reported better-than-expected first-quarter results on Tuesday.
Piper Jaffray raised it price target on the stock to $26 from $22. Needham and Co raised its price target to $38 from $37.
** BARRICK GOLD CORP , $19.14, down 3 pct (1225 ET)
** FIRST MAJESTIC SILVER INC , $11.89, down 4 pct (1226 ET)
** RANDGOLD RESOURCES LTD, $79.08, down 3 pct (1226 et)
Gold fell on Wednesday as buying slowed down due to holidays in China and parts of Europe, and as investors waited to see if the U.S. Federal Reserve would stick to its stimulus program to spur the economy. Gold fell 0.7 percent to $1,466.06 an ounce by 1151 GMT. U.S. gold futures for June delivery were down 0.4 percent at $1,464.00 an ounce.
** COMCAST CORP, $42.18, up 2 pct (1229 ET)
The biggest U.S. cable company and owner of NBC posted a higher quarterly profit on Wednesday, driven by strength on the cable side of the business.
** IAC/INTERACTIVE CORP, $48.8, up 2 pct (0936 ET)
The Web-holding company reported a better-than-expected first-quarter profit, but revenue fell short of estimates. IAC reported revenue of $742.3 million, compared with analysts' expectations of $757.3 million, according to Thomson Reuters I/B/E/S. (Compiled by Maria Ajit Thomas in Bangalore; Editing by Roshni Menon)