April 7, 2016 / 4:11 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Pacific Sunwear, Wynn Resorts

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Wall Street was lower on Thursday as oil prices slid and minutes from the U.S. Federal Reserve’s meeting sparked fresh worries about the risks from a weakening global economy. The Dow Jones industrial average was down 0.88 percent at 17,560.25, the S&P 500 was down 0.94 percent at 2,047.22 and the Nasdaq Composite was down 1.12 percent at 4,865.771.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $36.27, +6.15 pct

The drugmaker said it had obtained approval from its lenders for an amendment and waiver to its credit facility, giving the embattled drugmaker an extra month to file its annual report.

** PACIFIC SUNWEAR OF CALIFORNIA INC, $0.0599, -36.95 pct

The struggling teen apparel retailer filed for Chapter 11 bankruptcy protection on Thursday, succumbing to mounting losses and intense competition in the industry.

** OLLIE‘S BARGAIN OUTLET HOLDINGS INC, $25.4051, +11.92 pct

The discount retailer reported better-than-expected fourth quarter profit and sales, helped by store openings, rise in merchandise margins and expense control.

** DRAGONWAVE INC, $7.0694, -19.67 pct

The Canadian wireless networking equipment maker offered shares and warrants.

** CELLECTAR BIOSCIENCES INC, $4.0714, +16.33 pct

The oncology drugs developer said the Nasdaq listing qualifications panel granted its request for continued listing of common stock.

** HOOKER FURNITURE CORP, $28.01, -15.86 pct

The home furnishings company reported lower-than-expected fourth-quarter sales and profit, hurt by lower sales of case goods, upholstery and higher discounts.

** VIKING THERAPEUTICS INC, $2.53, +76.92 pct

HC Wainwright analysts initiated coverage on the drug developer’s stock with a “buy” rating and a price target of $6.

** IONIS PHARMACEUTICALS INC, $42.1715, -9.37 pct

The drugmaker provided an update on its drug, IONIS-TTRRx. The drug is being evaluated by Ionis in an ongoing late-stage study in patients with a form of TTR amyloidosis.

** WYNN RESORTS LTD, $100.54, +12.27 pct

Telsey Advisory Group analyst David Katz upgraded the casino operator’s stock to “outperform” from “market perform” and raised his price target to $112 from $67.

** CONAGRA FOODS INC, $46.08, +1.43 pct

The maker of Chef Boyardee pasta and Healthy Choice dinners reported higher-than-expected quarterly sales, helped by strong demand for products it sells to restaurants and other food industry customers.

** JPMORGAN CHASE & CO, $57.96, -1.45 pct

The biggest U.S. bank by assets urged shareholders to vote against appointing a committee to explore a break up of the bank, reiterating that splitting its businesses would not be in investors’ best interests.

** BARCLAYS PLC, $8.32, -2.12 pct

The British lender has agreed to sell its wealth and investment management business in Hong Kong and Singapore to Oversea-Chinese Banking Corp, as the company continues its drive to reduce risk and simplify.

** YAHOO INC, $36.16, -1.36 pct

The Internet company expects a sharp decline in both its revenue and earnings this year compared with 2015, with revenue seen falling nearly 15 percent and earnings over 20 percent, Re/code reported, citing a Yahoo document.

** BED BATH & BEYOND INC, $50.57, +3.61 pct

The home furnishings retailer reported better-than-expected quarterly profit and revenue, helped by strong e-commerce sales. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Anil D‘Silva)

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