August 11, 2016 / 1:42 PM / a year ago

BUZZ-U.S. STOCKS ON THE MOVE-Alibaba, Valeant, Macy's, Kohl's

(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 opened higher on Thursday as strong labor market data and upbeat corporate earnings reports buoyed investor sentiment about U.S. economic growth. The Dow Jones Industrial Average was up 0.36 percent at 18,562.09, the S&P 500 was up 0.32 percent at 2,182.46 and the Nasdaq Composite was up 0.46 percent at 5,228.711.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $25.14, -7.98 pct

U.S. prosecutors opened a criminal investigation into the Canadian drugmaker over whether it hid from insurers its relationship with specialty pharmacy Philidor that helped boost its drug sales, WSJ reported citing people familiar with the matter.

** SHAKE SHACK INC, $38.91, -4.80 pct

The burger chain reported disappointing comparable sales that overshadowed the company's second-quarter revenue and profit beat as well as full-year guidance raise.

** ALIBABA GROUP HOLDING LTD, $92.54, +5.97 pct

** YAHOO INC, $41.55, +4.06 pct

The Chinese e-commerce giant reported a better-than-expected 59 percent jump in quarterly revenue, defying a slowdown in the Chinese economy.

Shares of Yahoo, which owns a slice of Alibaba, were also up.

** MACY'S INC, $39.66, +16.65 pct

The biggest U.S. department-store operator said it would close about 100 stores and boost investment in its online operations as it seeks to turn around its business after six quarters of falling sales.

** KOHL'S CORP, $43.71, +14.91 pct

The department store operator reported quarterly sales above analysts' estimates as warm weather in the quarter boosted demand for summer clothes and accessories.

** CHESAPEAKE ENERGY CORP, $4.87, +1.46 pct

The oil and natural gas producer said it would sell its Barnett shale acreage in Texas to private equity-backed Saddle Barnett Resources LLC and had renegotiated an expensive pipeline contract with Williams Partners LP, steps that would save more than $1.9 billion in future liabilities. (Compiled by Shalom Aarons in Bengaluru; Edited by Don Sebastian)

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