June 19, 2014 / 2:03 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-Corinthian, BlackBerry, StemCells

5 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened flat on Thursday, following a four-day rally that took the S&P 500 to record levels, while the latest jobless claims data indicated strengthening of the labor market. The Dow Jones industrial average was down 0.02 percent at 16,903.03 and the S&P 500 was up 0.02 percent at 1,957.31.

** CORINTHIAN COLLEGES INC, $0.3103, -63.49 pct

The for-profit education provider said it may not be able to continue as a going concern after the U.S. Department of Education delayed reimbursements. The department has increased the period in which Corinthian is refunded some disbursements to 21 days from 24-72 hours, Corinthian said in a regulatory filing. (1.usa.gov/1qvpC6z)

** BLACKBERRY LTD, $9.299, +12.17 pct

The Canadian smartphone maker reported a smaller-than-expected quarterly loss on Thursday as the smartphone company's cost cutting and other turnaround efforts started to pay off. Excluding a one-time non-cash accounting gain and certain restructuring charges, the loss was 11 cents per share.

More than 21 million shares changed hands in the first 15 minutes of trading, more than double their 50-day moving average.

** STEMCELLS INC, $1.928, +22.80 pct

The drug developer reported positive interim results of an early-stage trial of its experimental drug to treat age-related blindness. Patients given the drug showed 65 percent reduction in degeneration of retinal tissue.

** MEASUREMENT SPECIALTIES INC, $85.99, +10.24 pct

** TE CONNECTIVITY LTD, $61.96, +0.03 pct

The Swiss electronics company TE Connectivity said it would buy the company for about $1.7 billion, including debt, to grab a bigger slice of the high-growth global sensor market.

UBS raised target price on TE to $68 from $66.

** KBR INC, $23.7, -9.95 pct

The engineering and construction company reported lower-than-expected first-quarter results and said it would resume practice of providing earnings outlook only after an in-depth review of its businesses.

** AMERICAN APPAREL INC, $0.6831, +6.73 pct

The clothing and accessories retailer ousted its controversial founder Dov Charney as chairman and moved to fire him as CEO and president following an ongoing investigation into alleged misconduct.

** BALLARD POWER SYSTEMS, $4.24, +2.17 pct

Ballard said it signed an agreement with China's Azure Hydrogen to provide telecom backup power systems for the Chinese market. The deal is valued at about $6 million over 2014-15. Under the terms of the agreement, Ballard will also be exclusive supplier of air-cooled fuel cell stacks and fuel processors.

** PIER 1 IMPORTS INC, $16.64, -8.87 pct

The furniture retailer cut its full-year earnings forecast to $1.14-$1.22 per share from $1.16-$1.24. Pier I reported a profit of 16 cents per share for the first quarter ended May 31. Analysts on average had expected 20 cents per share, according to Thomson Reuters I/B/E/S.

** KROGER CO, $50.04, +5.86 pct

The U.S. supermarket operator reported a better-than-expected quarterly profit, helped by acquisition of grocer Harris Teeter earlier this year. First-quarter adjusted earnings of $1.09 per share came above analysts' average estimate of $1.05, according to Thomson Reuters I/B/E/S.

** CLARCOR INC, $63.15, +7.40 pct

The air filtration system maker reported better-than-expected quarterly results on Wednesday.

Clarcor also forecast full-year adjusted earnings of $2.85-$2.95 per share and revenue of $1.49 billion-$1.54 billion. Analysts on average were expecting profit of $2.79 per share and revenue of $1.49 billion, according to Thomson Reuters I/B/E/S/.

** RED HAT INC, $55.64, +4.78 pct

The world's largest commercial distributor of Linux operating system raised full-year adjusted profit and revenue forecast as it benefitted from higher enterprise demand for its software used in data-centers.

Susquehanna Financial Group raised its price target to $57 from $54, saying it expects the company to benefit from newer products and the acquisition of cloud computing company eNovance.

** NVIDIA CORP, $19.13, -2.35 pct

Bank of America Merrill Lynch cut its rating on the chipmaker's stock to "underperform" from "neutral", according to theflyonthewall.com.

** RITE AID CORP, $7.21, -3.09 pct

The drug store operator forecast sales of $26 billion-$26.5 billion for year ending March 1. Analysts on average were expecting $26.19 billion, according to Thomson Reuters I/B/E/S. (Compiled by Mridhula Raghavan; Edited by Don Sebastian)

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