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

Thu Aug 28, 2014 11:21am 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,; for the Morning News Call newsletter, U.S. stocks fell 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. The Dow Jones industrial average was down 0.37 percent at 17,058.85 and the S&P 500 was down 0.26 percent at 1,994.96.

** SUNGY MOBILE LTD, $8.34, -19.81 pct

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.

** CSR PLC, $50.9001, +33.81 pct   Continued...