(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 lower on Friday afternoon as a decline in oil prices added to the pressure from consumer stocks after strong April retail sales data was overshadowed by gloomy earnings reports from retailers.
The Dow Jones industrial average was down 0.81 percent at 17,576.38, the S&P 500 was down 0.67 percent at 2,050.2 and the Nasdaq Composite was down 0.31 percent at 4,722.583.
** J.C. PENNEY CO INC, $7.505, -3.78 pct
** NORDSTROM INC, $39.39, -12.91 pct
Department store operators Nordstrom and J.C. Penney both reported a drop in total sales in a quarter marked by weak demand for apparel.
** APPLE INC, $90.31, -0.03 pct
Apple said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move it said would help it better understand the critical Chinese market.
The news came after the iPhone maker’s shares Apple fell to a near two-year low of $89.47 on Thursday, before recovering slightly to end down 2.35 percent at $90.34.
** AMAZON.COM INC, $712.1956, -0.80 pct
U.S. Republican presidential candidate Donald Trump said on Thursday that the world’s biggest online retailer has “a huge antitrust problem.” Trump told Fox News that Amazon CEO Jeff Bezos, who owns the Washington Post, is using the newspaper to influence politicians in Washington to help Amazon on taxes.
** NVIDIA CORP, $40.405, +13.59 pct
The chipmaker forecast better-than-expected revenue for the current quarter as it expects robust demand for its chips that power complex computer graphics.
** WESTERN DIGITAL CORP, $35.37, -2.72 pct
Bank of America Merrill Lynch double downgraded the data storage company’s stock rating to “underperform” from “buy”and halved its price objective to $30, saying the company’s earnings was at risk near-term due to the speed of hard disk drive market erosion.
** SHAKE SHACK INC, $36.7, +7.12 pct
The burger chain operator, known for its juicy antibiotic-free hamburgers and frozen custard shakes, on Thursday reported results that topped expectations and raised its same-restaurant sales forecast for the year.
** CONFORMIS INC, $5.35, -47.08 pct
The medical implant maker cut its FY 2016 revenue forecast and said CEO Philipp Lang would be replaced, news that overshadowed better-than-expected Q1 results.
** QIHOO 360 TECHNOLOGY CO LTD, $70.48, +3.72 pct
Qihoo said the buyer who had proposed to take the Chinese Internet company private informed it that the work towards satisfying the conditions precedent under the merger agreement was progressing as expected.
Bloomberg had reported the privatisation plan had hit an impasse with China forex regulators. (bloom.bg/1Nrag0h)
** SOUTH JERSEY INDUSTRIES INC, $28.01, +4.79 pct
The company said an upsized offering of 7 million shares was priced at $26.25 per share, and that it expects gross proceeds of about $183.8 million from the offering.
** EXCO RESOURCES INC, $0.78, -55.43 pct
The oil and gas producer said it formed a special committee to evaluate strategic alternatives, including in-court or out-of-court restructuring.
** TETRAPHASE PHARMACEUTICALS INC, $3.425, -18.26 pct
The antibiotic developer said the FDA has asked for an additional study on intravenous version of its lead drug, before it can submit marketing application.
** WAFERGEN BIO-SYSTEMS INC, $0.9, +63.64 pct
The genomics company is to be bought by a unit of Japan’s Takara Bio Inc.
** EAGLE POINT CREDIT CO INC, $16.04, -14.36 pct
The closed-end management investment company said its public offering of 1.25 million shares was priced at $17.65 per share, and it expects net proceeds of about $20.9 million.
** SUNRUN INC, $6.62, +7.64 pct
The solar panel installer reported a surprise first-quarter profit, helped by higher deployments.
** CONCORDIA HEALTHCARE CORP, $25.77, +11.90 pct
The Canadian drug developer’s first-quarter revenue surged on strong international sales.
** ACACIA COMMUNICATIONS INC, $31.08, +35.13 pct
The optical networking company’s shares opened at $29 in their debut, above their IPO price of $23.
** NV5 GLOBAL INC, $27.07, -7.07 pct
The engineering and consulting services provider said an offering of 1.7 million shares was priced at $26.25 apiece, a discount of 9.9 percent to Thursday’s close.
** EVOLENT HEALTH INC, $12.64, +17.91 pct
The healthcare service provider reported a smaller-than-expected adjusted loss for the first quarter.
** LUXOFT HOLDING INC, $59.71, +2.42 pct
The IT services provider reported better-than-expected fourth-quarter revenue and profit, helped by strength in its automotive and transport, financial services, and technology businesses.
** NORTEK INC, $49.75, +7.87 pct
The ventilation products maker reported a 7.2 percent rise in first-quarter sales, helped by higher sales in its air quality & home solutions business.
** ORAMED PHARMACEUTICALS INC, $7.81, +14.85 pct
The drug developer expected to release mid-stage data on its oral insulin drug next week. Rodman & Renshaw analysts said data could be transformative for stock.
** PATRIOT NATIONAL INC, $8.48, +8.30 pct
The insurance outsourcer posted better-than-expected first-quarter revenue, driven by a surge in fee income.
** EAGLE POINT CREDIT CO INC, $16.04, -14.36 pct
The investment company’s public offering of 1.25 million shares priced at $17.65 per share, a 5.7 percent discount to Thursday’s close.
** APPLIED DNA SCIENCES INC, $2.65, -16.67 pct
The DNA-based anti-counterfeiting technology maker reported lower-than-expected revenue and a bigger-than-expected loss for second quarter. (Compiled by Arunima Banerjee in Bengaluru; Editing by Savio D‘Souza)