August 20, 2015 / 3:31 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Disney, Time Warner, Eli Lilly, Stage Stores

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Wall Street fell more than 1 percent on Thursday morning, a day after the Federal Reserve highlighted global growth concerns, increasing speculation that the central bank would not raise interest rates in September.

The Dow Jones industrial average was down 1.20 percent at 17,140.81, the S&P 500 was down 1.13 percent at 2,056.03 and the Nasdaq Composite was down 1.72 percent at 4,932.847.

** WALT DISNEY, $101.33, -4.81 pct

** TIME WARNER, $74.83, -3.84 pct

Bernstein cut its rating on the stocks of the two media companies to “market perform”, saying “We can no longer advocate a view that DIS or TWX will Outperform the market over the next 12-months”.

** NETAPP INC, $31.38, +5.37 pct

The data storage equipment maker reported a better-than-expected quarterly adjusted profit and revenue as its focus on cloud-based storage products started to pay off.

** SEARS HOLDINGS CORP, $22.55, -3.38 pct

The struggling department chain operator sales continued to decline at a double-digit clip, falling 22 percent in the second quarter. Same-store sales decline, partly due to shift away from lower margin products such as consumer electronics.

** ELI LILLY AND CO, $87.27, +4.18 pct

A new diabetes pill from Eli Lilly and Boehringer Ingelheim cut risk of heart attack, stroke and death in a closely watched study, the first glucose-lowering drug to show such protective results in a large cardiovascular trial, the drugmakers said.

** STAGE STORES INC, $11.96, -29.23 pct

The apparel and accessories retailer reported lower-than-expected second-quarter results, hurt by a stronger dollar and weakness in parts of Texas, Louisiana, Oklahoma and New Mexico.

** NUVISTA ENERGY LTD, $4.5, -5.66 pct

Alberta Energy Regulator investigated a leak on Canadian oil and natural gas company’s pipeline in northern Alberta that spilled roughly 629 barrels of oil, water and natural gas emulsion.

** CYBERONICS INC, $64.663, +7.04 pct

An Italian court ruling cleared the path for the medical device maker’s merger with medical device maker Sorin. Cyberonics also reported better-than-expected quarterly results, driven by strong sales of its heart device, AspireSR.

** ONE HORIZON GROUP INC, $1.48, +4.96 pct

YTO Express, one of China’s largest logistics company, will trial One Horizon’s Aishuo VoIP platform in Jiangsu province. The company had launched Aishuo in China in February and last week said it had won a VoIP-supply contract with a Chinese satellite operator.

** TECH DATA CORP, $62.56, +11.18 pct

The technology product distributor’s second-quarter revenue and adjusted profit handily beat estimates despite a dip in total sales due to stronger dollar.

** HASBRO INC, $78.46, -1.41 pct

** LEAPFROG ENTERPRISES INC, $0.9897, +4.16 pct

** MATTEL INC, $22.885, +1.67 pct

** JAKKS PACIFIC INC, $9.7, +4.30 pct

Oppenheimer started coverage of Hasbro’s stock with a “perform” rating and coverage of the other three toymakers’ stocks with an “outperform” rating.

** PERRY ELLIS INTERNATIONAL INC, $24.215, +3.13 pct

The apparel retailer reported a better-than-expected second-quarter profit on rising demand for its core brands Perry Ellis, Original Penguin and Rafaella. The company also raised its full-year earnings forecast.

** LUMBER LIQUIDATORS HOLDINGS INC, $15.92, +12.03 pct

Cantor Fitzgerald raised its rating on the laminated flooring retailer’s stock to “buy” from “hold” and its price target to $18 from $15.

** COEUR MINING INC, $3.97, +6.72 pct

** NEWMONT MINING CORP, $18.61, +3.79 pct

** BARRICK GOLD CORP, $8.45, +6.96 pct

** YAMANA GOLD, $2.385, +4.15 pct

U.S.-listed shares of gold miners rose as gold hit its highest in nearly five weeks after meeting minutes from the U.S. Federal Reserve suggested policymakers were in no hurry to raise interest rates.

** FRESH MARKET INC, $26.47, -2.88 pct

Bank of America Merrill Lynch cut its rating on the grocery store operator’s stock to “underperform”, saying the company could be hurt by higher promotions and easier availability of organic and specialty foods at rivals such as Whole Foods Market Inc and conventional supermarkets.

** 58.COM INC, $43.04, -6.43 pct

The Chinese online classifieds provider posted a second-quarter loss compared with a profit a year earlier as operating expenses soared nearly 244 percent. The company’s net cash provided by operating activities was fell to $7.9 million from $22.2 million a year ago. Total revenues increased 147.1 percent, but gross margin fell to 93.7 percent from 94.7 percent.

** MICRON TECHNOLOGY INC, $15.075, -5.19 pct

Baird cut its rating on the chipmaker’s stock to “neutral” and more than halved its price target to $15 from $36.

** KEYSIGHT TECHNOLOGIES INC,$33.03, +11.81 pct

The electronic measurement instrument maker posted better-than-expected third-quarter profit, helped by lower costs. The company’s 2015 revenue forecast topped analysts estimates.

** SILVERCORP METALS INC, $0.6999, -15.02 pct

The Canadian silver miner said it had chosen to withdraw its listing on the New York Stock Exchange after deciding that the costs and burdens of maintaining the listing outweigh the benefits “during this downturn in the commodity cycle”. The company’s NYSE-listed shares have stayed below $1 for 30-days, which is below the NYSE continued listing requirement.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $237.52, -3.02 pct

** PALATIN TECHNOLOGIES INC, $1.01, +4.12 pct

Canadian drugmaker Valeant said it would buy Sprout Pharmaceuticals, which just won approval for its “female Viagra” drug Addyi, for about $1 billion plus milestone payments.

The news also boost the stock of Palatin, which is creating a drug that could rival Addyi. (Compiled by Sruthi Shankar in Bengaluru; Editing by Savio D‘Souza)

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