MARKET PULSE-Akebia, Cato, Cinedigm, ING, JPMorgan, Sinovac, Ziopharm

Thu Mar 20, 2014 2:29pm EDT
 
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(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. stocks rose on Thursday, boosted by a read on factory activity that was much stronger than expected, although investors continued to grapple with the prospect of an earlier-than-expected rate hike. The Dow Jones industrial average was up 0.76 percent at 16,344.75, the S&P 500 was up 0.67 percent at 1,873.15 and the Nasdaq Composite was up 0.44 percent at 4,326.405.

** THE CATO CORP, $26.445, -12.14 pct

The specialty apparel retailer reported a 7 percent fall in fourth-quarter net sales, hurt by a promotional holiday sales season and a severe winter, and said 2014 same-store sales may be fall up to 2 percent.

The company also estimated first-quarter and full-year earnings below the average analyst estimate.

** AKEBIA THERAPEUTICS INC, $23.92, +40.71 pct

The biopharmaceutical company's shares jumped more than 43 percent in their debut after its initial public offering of 5.9 million shares were priced at $17 each, raising about $100 million. At a high of $24.36, the company would be valued at about $445 million.

** CINEDIGM CORP, $2.72, -13.92 pct   Continued...