Market Roundup

Shares of United Continental Holdings Inc UAL dropped about 1.9% after the company reported a 1% rise in its March traffic. Its traffic measured in revenue passenger miles climbed to 17.56 billion miles. The load factor widened to 81.5% from 79.8%. Revenue per available seat mile surged in a range of 4% to 5%, the company estimated. Shares of Amgen Inc AMGN fell about 1.2% after the company announced its plans to buy privately-held KAI Pharmaceuticals for $315 million in cash. Shares of Patni Computer Systems Ltd PTI fell about 1.3% after the company reported a 13.6% decline in its Q1 standalone net profit. Patni Computer's quarterly net profit dropped to INR1.53 billion, versus INR1.77 billion in the year-ago period, based on Indian accounting standards. Its revenue climbed 4.5% y/y to INR5.35 billion from INR5.12 billion. However, expenses rose 7.6% to INR3.97 billion. Shares of Semiconductor Manufacturing International Corp SMI gained about 3.7% after the company lifted its forecast for Q1 revenue growth and gross margin. SMIC now expects Q1 revenue growing 14% to 15% versus the year-ago period, versus its original forecast of 7% to 9% growth. It now projects Q1 gross margin to be between 10% and 12%, versus its earlier forecast of 4% to 7%. Shares of HSBC Holdings PLC HBC fell about 2.7% after the company reported that its unit HSBC Bank PLC will sell its 19.9% stake in Montagu Private Equity LLP to MLLP Holdings Ltd.