January 14, 2016 / 4:53 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Hansen, IntelliPharmaCeutics, Tuesday Morning

(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) Wall Street rallied on Thursday morning, with the S&P 500 reclaiming the key 1,900 mark, as an early selloff in technology stocks fizzled and steadying oil prices boosted energy companies. The Dow Jones industrial average was up 1.17 percent at 16,340.67, the S&P 500 was up 1.02 percent at 1,909.49 and the Nasdaq Composite was up 0.82 percent at 4,563.379.

** JPMORGAN CHASE & CO, $58.545, +2.10 pct

The biggest U.S. bank by assets reported a better-than-expected quarterly profit for the final quarter of the year as a tight lid on expenses and a smaller legal bill made up for sluggish revenue growth.

** MARRIOTT INTERNATIONAL INC, $59.735, -0.89 pct

** EXTENDED STAY AMERICA INC, $13.3, -3.83 pct

** HYATT HOTELS CORP, $37.73, -5.41 pct

** BELMOND LTD, $7.85, -4.85 pct

** MORGANS HOTEL GROUP CO, $1.955, -18.20 pct

** INTERCONTINENTAL HOTELS GROUP PLC, $33.54, -4.74 pct

** CHOICE HOTELS INTERNATIONAL INC, $41.96, -2.17 pct

U.S. hotel operators’ shares fell after MKM Partners downgraded the lodging sector on “a more cautious outlook for the economy”. MKM analyst Christopher Agnew said U.S. average daily rate (ADR) growth has peaked and is now decelerating, “and with demand weakening, we see little likelihood of re-acceleration.”

** CHIPOTLE MEXICAN GRILL INC, $442.88, +3.41 pct

CLSA raised rating on the burrito chain operator to “buy”, while Cowen and Co raised its price target to $425 from $415. The company’s executives said on Wednesday they were confident that steps being taken to tighten food safety would prevent future food poisoning outbreaks.

** HANSEN MEDICAL INC, $1.4, -27.65 pct

The medical robotics maker said it was looking at strategic alternatives, including potential sale of the company or its assets. The company set up a special panel of independent directors to review alternatives.

** INTELLIPHARMACEUTICS INTERNATIONAL INC, $2.395, +12.97 pct

The generic drug maker said its experimental painkiller, Rexista Oxycodone XR, had similar effect on patients as Purdue Pharma’s existing drug Oxycontin, both of which share same active ingredient.

** TUESDAY MORNING CORP, $5.62, +7.05 pct

The off-price retailer’s CEO, Steven Becker, raised his stake in the company to 2.6 percent from 0.2 percent. Becker bought 1.05 million shares for $5.4 million in three trades this week, according to a regulatory filing on Wednesday.

** GOPRO INC, $12.0039, -17.84 pct

The wearable cameras maker estimated fourth-quarter revenue below market expectations due to disappointing sales of its action cameras, and said it would cut 7 percent of its workforce.

** BEST BUY CO INC, $26.28, -10.18 pct

The largest U.S. consumer electronics retailer said it expected its U.S. sales to fall by about 1.5 percent in the current quarter due to weak demand for mobile devices, scanners and printers in the holiday season.

** YELP INC, $19.82, -10.19 pct

B. Riley & Co cut its rating on the consumer review website operator’s stock to “sell” from “neutral”.

** FREEPORT MCMORAN INC, $4, +6.95 pct

The mining and energy company’s Indonesian unit has submitted a divestment price to the Indonesian government for an additional stake in one of the world’s biggest copper mines, an energy ministry official said on Thursday.

** WEBMD HEALTH CORP, $49.57, -6.84 pct

The online provider of healthcare-related information and advice is exploring a potential sale of all or part of its business, the Financial Times reported, citing people familiar with the matter.

** FIAT CHRYSLER AUTOMOBILES NV, $7.43, -5.47 pct

The automaker’s shares fell following a media report that said two dealerships had filed a lawsuit accusing it of inflating U.S. sales.

** INFOSYS LTD, $17.59, +6.87 pct

India’s second-largest software services exporter raised its annual revenue growth forecast due to stronger demand for high-margin automation and other services.

** RIO TINTO PLC, $25.05, +5.21 pct

The world’s second largest miner is going to freeze all pay in 2016, ramping up its cost-cutting effort to weather what it expects to be a prolonged commodities slump, according to a memo from Chief Executive Sam Walsh.

** NVIDIA CORP, $28.1401, -3.83 pct

Barclays downgraded the chipmaker’s stock to “underweight”. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Maju Samuel)

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