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MARKET CURRENTS

  • 2:54 PM Tesoro (TSO +4.6%) seems to be benefiting from several favorable analyst notes today, including Barclays' big target price boost to $120 from $92, which the firm says may prove conservative since its calculations did not include any target synergy benefit. UBS and Macquarie also hike their price targets, the latter saying it sees no other U.S. independent refiner posting an equivalent execution track record. Comment! [Energy, Quick Ideas, On the Move]
  • 2:47 PM Lockheed Martin (LMT +0.2%) says its UK unit has expanded its range of cloud computing services available to government customers to include IT service integration and management, known as SIAM in the UK. SIAM enables UK government departments to deliver seamless, end-to-end IT services in a multi-vendor sourcing model. No financials behind the announcement were mentioned. Comment! [Global & FX]
  • 2:44 PM Coinstar (CSTR +1%) offers to let consumers watch The Hobbit: An Unexpected Journey for free as long they sign up for a Redbox Instant account, give up their credit card information, and take to Twitter to spread the word. The promotion could boost quarterly subscriber numbers for the streaming service as it runs into a soft patch for its movie release schedule and with Netflix breathing down its neck.  Comment! [Consumer]
  • 2:40 PM Real estate site owner Move (MOVE +9.9%) jumps after Citron Research uses less than 140 characters to disclose it's long, argue shares should trade at $17 given the valuations assigned to Zillow (Z) and Trulia (TRLA), and predicts Zillow or InterActiveCorp (IACI) will bid for the company. One big difference between Move and Zillow/Trulia: Move's revenue grew 14% Y/Y in Q1, whereas Zillow and Trulia's respectively grew 71% and 97%. Comment! [Tech, On the Move, Quick Ideas]
  • 2:35 PM NanoString files for an $86.25M IPO. The company, which focuses on the development of genomic information from minute amounts of tissue for cancer research, plans to list on the Nasdaq Global Market under the ticker, "NSTG." The offering is being made through JP Morgan, Morgan Stanley, Leerink Swann, and Baird. Comment! [Healthcare]
  • 2:34 PM Enbridge Energy Partners (ENB -0.4%) says an oil spill at its Cushing, Okla., terminal Saturday has not affected other terminal and pipeline operations. ENB says the leaking line was quickly isolated, and the oil that was released was held within the terminal's containment structures; ~2,400 barrels have been recovered as cleanup work continues. 1 Comment [Energy]
  • 2:33 PM STMicroelectronics (STM +2.1%) makes new 52-week highs after JPMorgan starts coverage with an Overweight. Investors have been encouraged by the margin gains posted by the European chipmaker as it winds down its money-losing ST-Ericsson JV, and also by relatively healthy set-top/TV and microcontroller chip sales. Comment! [Tech]
  • 2:26 PM Pitney Bowes (PBI +2.6%) looks like the one of the five most interesting ideas out there to value-seeking SA contributor Ulfberht Capital. The take focuses on the premise Pitney Bowes can deleverage its balance sheet and will benefit incrementally from an improving U.S. economy. Though the dividend payout rate could be at risk, a 4.94% yield on PBI shares is also enticing. 4 Comments [Consumer]
  • 2:25 PM Splunk's (SPLK +2.5%) addressable market is growing and its results should beat estimates, says Pac Crest in a bullish note that's giving shares a lift. The machine data software leader, which has been touting the ability of its products to analyze Web data in addition to corporate data, is now up 60% YTD. Its FQ1 report arrives on May 30. Comment! [Tech, On the Move]
  • 2:19 PM Dairy stock Lifeway Foods (LWAY -3.5%) cools off after last week's post-earnings rip sent shares to new highs. A lot of enthusiasm over the company is focused on the new distribution channels it's setting up in the U.S. Comment!
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TOP ARTICLES2:55 PM ET MONDAY MAY 20
DIA -0.02%
SPY 0.04%
QQQ -0.20%
GLD 2.36%
ETF Movers
AUSE WisdomTree Australia Dividend ETF 1.08%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF 0.32%

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