(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks were mixed in afternoon trading on Friday as better-than-expected consumer confidence data brought some relief to investors concerned about a possible debt default by Greece. The Dow Jones industrial average was up 0.22 percent at 17,929.13, the S&P 500 was down 0.18 percent at 2,098.56 and the Nasdaq Composite was down 0.84 percent at 5,069.379.
** NIKE INC, $109.52, +4.09 pct
The world’s largest footwear maker reported a better-than-expected profit for the eighth quarter in a row as it sold more high-margin shoes and apparel at higher prices, and posted a surprise rise in growth of “futures orders”.
At least 11 brokerages raised price targets after the company also raised its full-year currency-neutral sales forecast.
** TENET HEALTHCARE CORP, $57.56, +2.40 pct
** COMMUNITY HEALTH SYSTEMS INC, $64.64, +3.51 pct
** HCA HOLDINGS INC, $92.02, +1.43 pct
** UNIVERSAL HEALTH SERVICES INC, $142.15, +0.97 pct
Wall Street analysts say the Supreme Court’s ruling on Obamacare removes a long-standing overhang on hospital stocks and should result in multiple expansion and stock price gains.
Despite yesterday’s strong reaction in the group, we believe hospital stocks still have room to run up as multiples continue to gradually creep higher to more appropriate levels,” says Jefferies.
** CELLADON CORP, $1.32, -40.00 pct
The drug developer said it would suspend further development of its gene-therapy drug for heart failure, months after the treatment failed a mid-stage trial.
** MICRON TECHNOLOGY INC, $19.55, -18.61 pct
** INTEL CORP, $30.8364, -3.61 pct
** BROADCOM CORP, $52.01, -1.70 pct
** AVAGO TECHNOLOGIES LTD, $135.28, -2.84 pct
** BROCADE COMMUNICATION SYSTEMS INC, $12.22, -2.86 pct
Chipmaker Micron said it expects a further decline in prices of chips used in personal computers, and forecast revenue for the current quarter well below market estimates.
At least 13 brokerages cut price targets on Friday; Morgan Stanley cuts to $19, the lowest; Sanford C. Bernstein cuts by $17, the steepest.
Micron’s price warning weighs on fellow chipmaker Intel and other chipmakers. Micron’s 18 percent slumps leads decline in the chip index, down 1.6 percent; index on track for worst day in two weeks.
** CHART INDUSTRIES INC, $37.44, +6.00 pct
Brokerage Northcoast upgraded the LNG equipment maker to “buy”, according to theflyonthewall.com.
** ZOETIS INC, $49.11, -11.32 pct
The animal health company’s shares fell on chatter that its deal with Valeant Pharmaceuticals was unlikely.
The stock is on track for its worst intraday percentage fall amid heavy trading, but rebases to price before WSJ’s takeover report.
** ALARM.COM HOLDINGS INC, $16.185, +15.61 pct
Shares of the company, which allows users to secure their properties and control connected devices through the cloud, open at $16.05, above the IPO price of $14 per share. At a high of $17.88, the company valued was at about $802 million.
** KFORCE INC, $22.28, +7.84 pct
Brokerage SunTrust Robinson raised its rating on the stock of the staffing company to “buy”, according to theflyonthewall.com.
** RESTORATION HARDWARE HOLDINGS INC, $99.06, +3.51 pct
Brokerage BB&T Capital Markets raised its rating to “buy” from “hold”, encouraged by the introduction of the company’s new furniture collection, RH Modern, which will have its own website and a 15,000-sq-ft store in Los Angeles, besides dedicated floors at existing stores, analyst Anthony Chukumba wrote in a note.
** MAGNUM HUNTER RESOURCES CORP, $1.92, +3.23 pct
The oil and gas producer said on Thursday it was looking to sell its stake in pipeline unit, raising $600 million-$700 million.
** YOUKU TUDOU INC, $24.8, -9.46 pct
** YY INC, $69.63, -6.42 pct
** E COMMERCE CHINA DANGDANG INC, $9.13, -10.31 pct
** 500.COM LTD, $25.19, -6.91 pct
U.S.-listed Chinese stocks fell after Chinese stocks plunged over 7 pct, hit by tight liquidity conditions ahead of the quarter-end and uncertainty over the central bank’s easing policy.
Morgan Stanley sees Shanghai’s benchmark index falling 2-30 pct over next 12 months due to heavy equity issuance, weak corporate reports, high valuations, excessive margin financing.
** XACTLY CORP, $9.22, +15.25 pct
The cloud-based compensation software company’s shares rose nearly 15 percent to session high of $9.18, valuing the company at about $254.3 million. The IPO of about 7 million shares was priced at $8 per share, well below the expected range of $10-$12
The company is selling 6.80 million shares, and selling stockholders the rest; The IPO raised about $56.3 million.
** SYNNEX CORP, $74.63, -9.36 pct
Brokerage Needham & Co downgraded the hardware distributor to “hold” from “buy” and CLSA cut to “outperform” from “buy” after the company reported lower-than-expected Q2 revenue.
Needham analysts say Synnex needs to be incrementally “selective” in tech solutions business deals to maintain margin.
** OCULUS INNOVATIVE SCIENCES INC, $1.44, +4.35 pct
Brokerage Maxim Group analyst assumes coverage of the skincare product maker’s stock with a “buy” rating and price target of $3.
Oculus Innovative sells three products for various types of skin diseases with its own salesforce and has planned to launch four new products later in 2015, Maxim’s Jason Kolbert wrote.
** GIGAMEDIA LTD, $0.88, +2.92 pct
The online games and cloud computing services provider said it bought a 70 percent stake in cosmetics e-commerce company Strawberry Cosmetics Holding Ltd for $93 million.
** FINISH LINE INC, $28.2, +4.44 pct
The athletic shoes and apparel retailer reported first-quarter profit and sales above analysts’ estimates, helped by a 5.5 pct rise in same-store sales.
** JD.COM INC, $32.9, -3.29 pct
China’s No. 2 e-commerce firm is launching a Chinese consumer credit data system as a joint venture with U.S. credit-scoring technology company ZestFinance, taking on a rival service linked to the larger Alibaba Group Holding Ltd.
** POTASH CORP OF SASKATCHEWAN INC, $31.17, -2.26 pct
German potash producer K+S said on Thursday it had received a takeover proposal from larger Canadian fertilizer producer Potash Corp of Saskatchewan Inc, potentially marking the start of a new takeover saga in the industry.
** CHARTER COMMUNICATIONS INC, $170.58, +1.63 pct
The cable company formally argued for regulatory approval for its Time Warner Cable Inc and Bright House Networks deals, saying consumers would benefit as Internet services would become cheaper and faster. (Compiled By Anya George Tharakan in Bengaluru; Editing by Simon Jennings)