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U.S. Equity Preview: WEC, X, TIBX, RIMM, INVN, FINL, DRRX, & CASC


Cascade Corp. (CASC) : The materials-handling equipment maker reported fourth-quarter earnings per share of $1.16, exceeding the average analyst estimate of $1.09.

Durect Corp. (DRRX) : The maker of drug-delivery systems said Hospira Inc. (HSP) is returning development and commercialization rights to the pain-relief product Posidur in the U.S. and Canada.

Finish Line Inc. (FINL) dropped 9.2 percent to $23. The athletic apparel retailer projected 2013 earnings per share growth in the “mid-single digits,” falling short of the average analyst estimate of 13 percent.

InvenSense Inc. (INVN) (INVN US) fell 1.8 percent to $19.25. The producer of gyroscopes for consumer electronics was cut to perform from outperform at Oppenheimer & Co., citing increased competition. The rating means that Oppenheimer expects the stock to perform in line with the S&P 500 within the next 12 to 18 months.

Research In Motion Ltd. (RIM) declined 1.1 percent to $13.58. The BlackBerry maker reported revenue and profit that fell short of analysts’ estimates and said it will discontinue giving financial forecasts as demand for BlackBerry smartphones wanes.

Tibco Software Inc. (TIBX) : The business software developer reported first-quarter revenue of $225.7 million, beating the average analyst estimate of $222.3 million. Tibco also said that it will initiate a $300 million share repurchase program.

U.S. Steel Corp. (X) gained 1.6 percent to $29.86. The steelmaker was rated a buy in new coverage at Nomura International Plc.

Wisconsin Energy Corp. (WEC) : The state’s largest utility owner provided first-quarter earnings per share guidance of no more than 73 cents, falling short of the average analyst estimate of 77 cents, according to data compiled by Bloomberg.

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