BUZZ-U.S. STOCKS ON THE MOVE-Lands' End, Minerva, BlackBerry, Chuy'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 rallied in volatile trading on Thursday after the European Central Bank announced expanded measures to stimulate the region's sagging economy, as expected. The Dow Jones industrial average was up 0.68 percent at 17,673.6, the S&P 500 was up 0.69 percent at 2,046.19 and the Nasdaq Composite was up 0.81 percent at 4,705.42.
** LANDS' END INC , $40.1, -20.92 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.
** MINERVA NEUROSCIENCES INC, $5.08, +16.36 pct
Drug developer says that in early-stage study experimental insomnia drug showed significant improvements in sleep onset and sleep duration in patients suffering from major depressive disorder. The stock was the top percentage gainer on Nasdaq. The Study is conducted by Johnson & Johnson, which is collaborating with Minerva to develop the drug, MIN-202.
** CHUY'S HOLDINGS INC, $22.65, +13.53 pct
Wells Fargo upgrades the restaurant chain operator's stock to "outperform" from "market perform" on valuation grounds. "... CHUY shares trade at a material discount to the top-15 growth restaurant companies as measured by combined unit and SSS (same-store sales) growth," Wells Fargo analyst Jeff Farmer writes. Continued...