August 22, 2014 / 11:39 AM / 3 years ago

BUZZ-U.S. Stocks on the Move-Ross Stores, GAP, GameStop, Foot Locker

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U.S. stock index e-mini futures were down on Friday: Dow Jones industrial average futures were down 0.09 percent at 17,000, S&P 500 futures were down 0.15 percent at 1,986.5 and Nasdaq 100 futures were down 0.13 percent at 4,042.25.

** CITIGROUP INC, Thursday close $51.07, -0.43 pct premarket

The bank has been sending hedge fund firms letters informing them that it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the U.S. Securities and Exchange Commission, the Wall Street Journal reported.

** ALLERGAN INC, Thursday close $164.38

A federal judge in California on Thursday denied a request by Allergan to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider trading ahead of their bid to buy Allergan.

** ROSS STORES INC, Thursday close $69.25, +5.20 pct premarket

At least four brokerages raised their price targets on the stock after the discount retailer’s reported better-than-expected second-quarter sales and profit on Thursday as “value-focused consumers” favored its products such as apparel and accessories.

Suntrust Robinson Humphrey analysts said momentum gained as the quarter progressed is a “positive indicator for the back half”.

** FOOT LOCKER INC, Thursday close $52.57, +4.22 pct premarket

The specialty athletic retailer reported higher-than-expected second-quarter profit and sales, helped by strong same-store sales growth.

** GAP INC, Thursday close $43.18, +2.01 pct premarket

The apparel retailer raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging markets.

** FRESH MARKET INC, Thursday close $30.43, +4.01 pct premarket

The specialty grocery retailer reported better-than-expected second-quarter earnings, helped by a 2.9 percent rise in same-store sales. The company also reaffirmed its sales and adjusted earnings outlook for 2014.

** GAMESTOP CORP, Thursday close $40.49, +6.89 pct premarket

The company on Thursday reported its quarterly revenue surged by 25 percent over the prior year, topping expectations, buoyed by the success of new game releases as well as solid sales of gaming hardware from Microsoft Corp and Sony Corp.

At least two brokerages raise price targets on stock, including BMO Capital Market, by as much as $6.

** SALESFORCE.COM INC, Thursday close $55.71, +1.22 pct premarket

The company reported better-than-expected quarterly revenue, helped by an increase in demand for its web-based sales and marketing software, and raised its full-year profit and revenue forecast.

** INTUIT INC, Thursday close $85.81

The developer of tax-preparation software TurboTax forecast a much bigger first-quarter loss, citing restructuring in its small business group unit.

Compiled by Abhirup Roy in Bangalore; Editing by Sriraj Kalluvila

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