BUZZ-U.S. Stocks on the Move-Sungy, Digital Ally, Abercrombie

Thu Aug 28, 2014 9:20am EDT
 
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(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures pointed to a lower open on Thursday after Ukraine's president said Russian forces had been brought into his country, bringing concerns over the volatile region back into focus and overshadowing some positive economic data. Dow Jones industrial average futures were down 0.37 percent at 17,030, S&P 500 futures were down 0.40 percent at 1,989 and Nasdaq 100 futures were down 0.38 percent at 4,057.25.

** SUNGY MOBILE LTD, -20.19 pct premarket

Oppenheimer & Co cut its rating on the Chinese mobile applications developer's shares to "perform" from "outperform" and removed a $22 price target.

The company will accelerate spending on research and sales and marketing in the coming two quarters which will put "pressure" on margins, Oppenheimer analysts said in a note.

The company on Wednesday forecast third-quarter revenue of 90-95 million yuan ($14.7-$15.5 million), below the average analyst estimate of $18.3 million.

The company also said Chief Financial Officer Winston Li had resigned, effective Aug. 31.

** DOLLAR GENERAL CORP, Wednesday close $63.7, -0.60 pct premarket   Continued...