Thursday's Winners & Losers: Intel
Shares of Intel (INTC) were up $1.13, or 4.7%, to $24.97 after an analyst at Lehman Brothers raised his price target on the stock to $26 from $24 on the belief that demand for the company's products remain strong. Tim Luke, an analyst at Lehman, reiterated his overweight rating on the stock.
Asia Time (TYM), a distributor of watch-movement components based, jumped to new highs. The Hong Kong-based company reported first-quarter earnings of $2.4 million, or 8 cents a share, vs. $193,000, or a penny a share, a year ago. Revenue increased 74% year over year to $36.8 million. Shares climbed 30.5% to $6.50.
Digital video recorder maker TiVo (TIVO) was up 57 cents, or 6.9%, to $8.83 after an analyst at Friedman Billings upgraded the stock to market perform from underperform. TiVo may accept a settlement in its long standing dispute with rival Dish Network (DISH), said the analyst.
Incyte (INCY) shares climbed 2.4% to $10.48 (on lower-than-average volume) after Piper Jaffray analyst Thomas Wei and Bank of America Securities analyst Katherine Kim reaffirmed buy ratings with $19 and $15 price targets, respectively. They expecting the company to present positive data at the American College of Rheumatology meeting in June.On the losing side, Yucheng Technologies (YTEC), which provides information technology solutions and services for banking, fell 27% to $13.49. The Beijing company reported that first-quarter earnings improved 88% year over year to $1.4 million, or 8 cents a share. The Street had forecast EPS of 12 cents. Shares of Geron (GERN) recovered a bit a day after the Food and Drug Administration put a clinical hold on the biopharmaceutical company's GRNPPC1, a cell therapy for spinal cord injuries. Geron said the agency verbally notified it and that it will have more information when it receives an official letter regarding the hold. After losing 20% on Wednesday, shares added 1.5% to $4 Thursday.
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