January 10, 2014 / 2:27 PM / 4 years ago

MARKET PULSE-YRC Worldwide, Intercept, Chelsea, Target, Bazaarvoice

9 Min Read

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures trimmed gains on Friday after the December nonfarm payroll report came in sharply below expectations. Dow Jones industrial average futures were up 0.13 percent at 16,413, S&P 500 futures were up 0.19 percent at 1,836.5 and Nasdaq 100 futures were up 0.25 percent at 3,556.5.

** YRC WORLDWIDE INC, Thursday close $15.67, -18.95 pct premarket

Workers at the trucking company represented by the Teamsters union rejected a contract extension that the company proposed, putting a plan to restructure its debt in jeopardy.

** INTERCEPT PHARMACEUTICALS INC Thursday close $275.87, +31.94 pct premarket

** CONATUS PHARMACEUTICALS INC Thursday close $9.8, +28.88 pct premarket

Intercept's shares nearly quadrupled to a life high of $305 on Thursday after the company's drug to treat liver disease caused by fat buildup was found effective in a trial, paving the way for it to become the first approved treatment for the chronic condition.

At least three brokerages - Citigroup, Needham and Oppenheimer - raised their price targets on the stock on Friday. Shares of biotechnology company Conatus, which is focused on the treatment of liver disease, also jumped on the news.

** ABERCROMBIE & FITCH CO, Thursday close $33.21, +13.97 pct premarket

At least one brokerage raised its rating on the teen apparel retailer's stock after the company raised its full-year earnings forecast on Thursday, citing higher-than-expected sales in the fourth quarter to date.

Janney Capital Markets upgraded the stock to "buy" and raised its price target to $49 from $34. Mizuho Securities USA raised its price target to $38 from $36, while Susqehanna Financial Group raised their price target to $46 from $43.

** PACIFIC SUNWEAR OF CALIFORNIA INC, Thursday close $3.43, -17.49 pct premarket

The clothing retailer estimated a wider loss for the fourth quarter as fewer customers shopped at its stores in December. The company also said late on Thursday comparable-store sales would be flat to 1 percent higher in the quarter. It had earlier forecast a 1-5 percent growth.

Brokerage Janney Capital Markets cut its rating on the retailer's stock to "neutral" from "buy." The brokerage also cut its fair value on the stock to $3 from $5.

** CHELSEA THERAPEUTICS INTERNATIONAL LTD, Thursday close $3.53, -29.18 pct premarket

U.S. Food and Drug Administration reviewers said a treatment developed by Chelsea for a rare type of low blood pressure lack evidence that the drug's benefit is durable over a longer period of time, according to documents on the FDA's website.

** SEARS HOLDINGS CORP, Thursday close $42.57, -11.67 pct premarket

The retailer on Thursday reported declines in comparable-store sales at its Kmart and U.S. namesake chain for the crucial holiday season that were even sharper than for the third quarter.

** TARGET CORP, Thursday close $63.34, -1.25 pct premarket

The company said a massive payment card data breach that occurred during the first three weeks of the holiday shopping season affected up to 70 million people, far more than previously estimated.

** ALCOA INC, Thursday close $10.69, -6.74 pct premarket

The company reported a massive quarterly loss on Thursday after recent declines in aluminum prices led to a $1.7 billion non-cash impairment charge on smelter acquisitions.

** SYNTA PHARMACEUTICALS CORP, Thursday close $5.82, +6.36 pct premarket

The company said it has started three studies to test its experimental drug ganetespib for two forms of blood cancer. The trials are sponsored by Cardiff University in the UK.

** TIFFANY & CO, Thursday close $92.01, +0.53 pct premarket

The U.S. jeweler reported a 4 percent rise in sales through November and December, helped by strong demand in America and Asia. Comparable store sales rose 6 percent in the two months, excluding the impact of currency fluctuations.

** JINKOSOLAR HOLDING CO LTD, Thursday close $34.78, +2.07 pct premarket

The Chinese solar company said it would operate the restructured factories of Topoint from Jan. 13, boosting its manufacturing capacity to 2 gigawatt (GW) from 1.5 GW. JinkoSolar plans to buy these assets once Topoint, based in China's southeastern coastal province of Zhejiang, completes its reorganization.

** BARRACUDA NETWORKS INC, Thursday close $39, -11.03 pct premarket

Brokerage BofA Merrill Lynch lowered its rating on the data storage and security company's stock to "neutral" from "buy."

** FIVE BELOW INC, Thursday close $43.59, -8.21 pct premarket

At least three brokerages cut their price targets on the specialty value retailer's stock after the company cut its fourth-quarter forecast late on Thursday, blaming the weather for a fall in customer traffic.

Sterne Agee & Leach cut its price target on the stock to $45 from $56 and Jefferies & Co cut its price target to $48 from $51, late on Thursday. Guggenheim Securities cut its price target to $54 from $57 on Friday.

** FIFTH & PACIFIC COS INC, Thursday close $31.86, -4.27 pct premarket

The owner of the Kate Spade brand estimated full-year revenue below analysts' expectations and said Chief Executive William McComb will step down next month.

** IMMUNOMEDICS INC Thursday close $5.18, +15.83 pct premarket

The company said it had started a late-stage study of its pancreatic cancer drug, clivatuzumab tetraxetan, with the main goal of overall survival. The trial will study the safety and efficacy of the drug combined with another chemotherapy drug in about 440 patients with metastatic pancreatic cancer who have received at least two previous therapies.

** BAZAARVOICE INC, Thursday close $8.25, -15.15 pct premarket

A federal court ruled against Bazaarvoice Inc's BV.O $168.2 million acquisition of its main rival PowerReviews Inc, saying the deal could lead to one firm dominating the online product rating and review market, a court filing showed.

** APOLLO GLOBAL MANAGEMENT LLC, Thursday close $35.14, +2.39 pct premarket

The company said on Thursday it had completed fundraising for its latest flagship global private equity fund, amassing $17.5 billion from investors, the most any such fund has raised since the financial crisis.

** BALLARD POWER SYSTEMS, Thursday close $2.08, +15.38 pct after market

The Canadian fuel cell maker said on Thursday it had sold about 400 kilowatts of FCgen- 1300 fuel cell stack product to Taiwan-based M-Field Energy Ltd. FCgen- 1300 fuel cell is a low-cost product, designed specifically for stationary applications and is incorporated into systems developed for backup power.

** NATURAL RESOURCE PARTNERS LP, Thursday close $20.34, down 10.4 pct premarket

The company, which owns interests in coal and oil and gas reserves, said it reduced its quarterly payout by 20 cents to 35 cents per share due to a fall in coal revenue. The company also forecast lower-than-expected 2014 results due to weak coal prices and lower production.

** AEGERION PHARMACEUTICALS INC, Thursday close $73.75, -9.13 pct premarket

The company said the U.S. Department of Justice has requested documents related to the sale of the cholesterol drug Juxtapid, its only approved product. Aegerion also forecast net product sales of $190 million to $210 million in 2014. Analysts on average were expecting the company to post revenue of $204 million, according to Thomson Reuters I/B/E/S.

Cowen & Co analyst Nicholas Bishop cut the price target on the stock to $95 from $105, saying "investors were looking for guidance just above consensus." Jefferies & Co cut its target to $90 from $102.

** ANGIODYNAMICS, Thursday close $17.98, +4.28 pct premarket

The medical device maker raised the lower end of its fiscal 2014 revenue forecast range, citing a stronger-than-expected performance in the first half of the year.

** MCKESSON CORP, Thursday close $175.33

The U.S. drugs wholesaler raised its offer for German peer Celesio to about 6.2 billion euros ($8.4 billion) including debt, mollifying an activist hedge fund that had been blocking the deal.

McKesson increased its bid to 23.50 euros per Celesio share from the 23 euros it offered in October, the San Francisco-based company said on Thursday.

** BARNES & NOBLE INC, Thursday close $15.67

Barnes & Noble's mainstay retail business showed signs of stabilizing during the holiday period, renewing the belief on Wall Street that the bookseller's stores remain a viable business.

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