BUZZ-U.S. STOCKS ON THE MOVE-Lands' End, City National, Xilinx, CollarbRx
(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 rose at the open on Thursday after the European Central Bank announced expanded measures to stimulate the region's economy. The Dow Jones industrial average was down 0.07 percent at 17,542.78, the S&P 500 was up 0.10 percent at 2,034.16 and the Nasdaq Composite was down 0.01 percent at 4,667.078 at 10:05 a.m. ET.
** LANDS' END INC , $38.66, -23.76 pct
The apparel retailer forecast lower revenue from merchandise sales and services in the fourth quarter. "We were disappointed by the performance of our cold weather assortment, especially during the peak holiday period," Chief Executive Edgar Huber said. International business was affected by unfavorable changes in currency exchange rates and lower sales in Europe. The company, spun off from Sears Holdings Corp last year, forecast Q4 earnings much below analysts' average estimate.
** CITY NATIONAL CORP, $87.8, +17.74 pct
** ROYAL BANK OF CANADA, $73.7, -2.85 pct
** U.S.-listed shares, $59.7, -3.01 pct
Royal Bank of Canada said it would buy the U.S. lender serving high net worth clients in a cash-and-stock deal valued at $5.4 billion. RBC offered $47.25 in cash and 0.7489 in shares for each City National share. The total offer of $93.80 per share, based on RBC's closing price of $62.16 on the New York Stock Exchange on Wednesday, represents a premium of nearly 26 percent to City National's last closing price.