BUZZ-U.S. Stocks on the Move-Pro-Dex, ChinaNet Online, ITT Education
(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 indexes rose on Friday. The Dow Jones industrial average was up 0.33 percent at 17,322.25, the S&P 500 was up 0.23 percent at 2,016.03 and the Nasdaq Composite was up 0.11 percent at 4,598.552.
** YAHOO INC, $42.12, +0.08 pct
** AMAZON.COM INC, $330.745, +1.77 pct
Alibaba Group Holding Ltd, in which Yahoo owns stake, priced its initial public offering at $68 per share, the top end of the expected range, raising $21.8 billion on Thursday, in the latest sign of strong investor appetite for the Chinese e-commerce juggernaut. At that price, the IPO, one of the largest ever, would give Alibaba a market valuation of $167.6 billion.
At least three brokerages raised their price targets on Yahoo's stock. Cantor Fitzgerald raised its target to $43 from $39, while Jefferies raised it to $46.50 from $45. Piper Jaffray raised its price target to $48 from $44.
Shares of online retailer Amazon.com also rose.
** CHINANET ONLINE HOLDINGS INC, $2.335, +128.92 pct Continued...