8 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)
The S&P and Dow were weaker on Friday as tensions in Ukraine escalated and investors got few clues about the course of interest rates from Federal Reserve Chair Janet Yellen. The Dow Jones industrial average was down 0.12 percent at 17,019.1, the S&P 500 was down 0.10 percent at 1,990.37 and the Nasdaq Composite was up 0.18 percent at 4,540.40.
** PEREGRINE SEMICONDUCTOR CORP, $12.41, +61.38 pct
Japan's Murata Manufacturing Co Ltd said it would buy the part of U.S. radio frequency chipmaker it does not already own for $465 million in cash, as it looks to strengthen its RF business.
The offer price of $12.50 per share is at a premium of 62.5 percent to Peregrine's Thursday close.
** WAFERGEN BIO-SYSTEMS INC, $4.6, -54.00 pct
The lifescience company issued 4 million shares and warrants to buy 4 million shares for net proceeds of $18 million. The offering was priced at $10,000 per unit, with each unit comprising 2,000 shares and 2,000 warrants.
The stock started trading on the Nasdaq on Aug. 22 after the offering. It was traded on over the counter earlier.
** SALESFORCE.COM INC, $60.22, +8.10 pct
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.
** DYNEGY INC, $31.82, +7.07 pct
U.S. power company Dynegy said it would buy 12,500 megawatts (MW) of coal and gas generation assets in two deals, valued at $6.25 billion, that would nearly double Dynegy's generating capacity to about 26,000 MW nationally
The company said it would buy Duke Energy's non-regulated Midwest commercial generation business and some of Energy Capital Partners' power generating assets.
** GAP INC, $45.31, +4.93 pct
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.
** CHINA NEW BORUN CORP, $2.51, -10.36 pct
The Chinese corn-based alcohol reported a 17.8 percent fall in second-quarter profit on unexpected nationwide sharp drop in demand in June.
** CHC GROUP LTD, $7.01, +13.25 pct
The commercial helicopter operator said late on Thursday that private equity firm Clayton, Dubilier & Rice (CD&R) would pay $500 million for a 45 percent ownership in the company. CD&R would pursue additional $100 million rights offering and the company would use the proceeds primarily to reduce debt and other charges.
** KEURIG GREEN MOUNTAIN INC, $133.6, +13.46 pct
The K-cup coffee pod maker said it signed a deal to make and sell Kraft Foods Group Inc's coffee in packs compatible with its brewing machines. Financial terms were not disclosed.
** QUNAR CAYMAN ISLANDS LTD, $30.805, +6.08 pct
Brokerage Pacific Crest Securities raised its target price on the stock to $39 from $34 after the China-based online travel company reported smaller-than-expected quarterly loss on Thursday.
The company's technology-focused approach to online travel will allow it to gain share, reach scale, analyst Cheng Cheng said.
** AASTROM BIOSCIENCES INC, $4, +9.89 pct
The drugmaker said a medical journal published results of mid-stage studies showing that its experimental heart drug reduced risk of major adverse cardiovascular events in patients with ischemic dilated cardiomyopathy.
** TUESDAY MORNING CORP, $18.49, +8.19 pct
The off-price retailer reported fourth-quarter sales growth of 5 percent, helped by strong same-store sales growth.
"Given the positive early results...we remain optimistic on the prospects for margins to recover to the double-digit range over the next five years, making this one of the most interesting retail stocks today," Credit Suisse analysts said. The brokerage raised its target price on the stock to $20 from $18.
** AEROPOSTALE INC, $3.5, -10.49 pct
Jefferies and Co analysts cut their price target on the stock after the teen apparel retailer reported bigger-than-expected second-quarter loss on Thursday as comparable store sales slid 13 pct
Analysts said that low demand for company's products to be "formidable challenge to reverse".
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $117.26, +3.03 pct
Valeant Pharmaceuticals and Pershing Square Capital Management will submit a request on Friday to Allergan for a special shareholders meeting, sources told CNBC television.
Allergan is fighting Valeant and Pershing Square's $49 billion offer to buy the company.
** UNITED STATES STEEL CORP, $37.85, +2.77 pct
** AK STEEL HOLDING CORP, $10.68, +6.69 pct
** STEEL DYNAMICS INC, $23.34, +0.91 pct
The U.S. International Trade Commission on Friday voted to impose anti-dumping duties against steel pipe imports from six countries, exempting two, handing a victory to domestic producers who had complained that the cheap imports were undercutting their prices.
** WORLD ACCEPTANCE CORP, $78.95, -6.51 pct
Sidoti & Co LLC cut its rating on the company, which provides small loans to individuals, to "neutral" from "buy," according to Theflyonthewall.com.
** ROSS STORES INC, $74.17, +7.10 pct
At least four brokerages raised their price targets on the stock after the discount retailer 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, $54.58, +3.82 pct
The specialty athletic retailer reported higher-than-expected second-quarter profit and sales, helped by strong same-store sales growth.
** FRESH MARKET INC, $33.04, +8.58 pct
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, $42.64, +5.31 pct
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.
** KING DIGITAL ENTERTAINMENT PLC, $14, +4.95 pct
The social and mobile game company said it released a Chinese version of its popular game, Candy Crush Saga.
The game is integrated with Tencent Holdings Ltd's instant messaging platforms Mobile QQ and Weixin as well as Tencent's App Center and Apple Inc's Chinese App Store
** INTER PARFUMS INC, $30.52, +5.24 pct
Citi upgraded the fragrance maker's stock to "buy" from "neutral", according to streetinsider.com. (Compiled by Abhirup Roy in Bangalore; Editing by Sriraj Kalluvila)