Wall Street opened lower for the second straight day on Friday as oil prices continued to fall, pressuring energy stocks amid investor worries of risks to global economic growth. The Dow Jones industrial average was down 0.68 percent at 17,862.46, the S&P 500 was down 0.78 percent at 2,099.05 and the Nasdaq Composite was down 0.99 percent at 4,909.386.
** GEVO INC, $0.457, -34.71 pct
The chemical and biofuel maker filed for a common stock offering of an undisclosed size, and intends to use net proceeds from the offering to fund working capital and for other general corporate purposes.
** MARVELL TECHNOLOGY GROUP LTD, $9.7, -4.90 pct
The chipmaker said it would not be able to file its 10-Q for the quarter ended April 30 due to an ongoing internal accounting probe. The company also said it expects net revenue for the first quarter to be substantially lower than a year earlier.
** H&R BLOCK INC, $23.1, +7.24 pct
The U.S. tax-preparer posted better-than-expected fourth-quarter revenue, helped by improved pricing.
** SOPHIRIS BIO INC, $2.53, +116.24 pct
The company reported positive data from the completed Phase 2a study of its prostate cancer treatment.
** URBAN OUTFITTERS INC, $26.01, -6.87 pct
The apparel retailer said its quarterly comparable retail segment net sales so far are mid single-digit negative.
At least six brokerages, including Deutsche Bank, cut their price targets on the stock.
** MATTRESS FIRM HOLDING CORP, $27.9, -16.91 pct
At least 4 brokerages cut their price targets after the mattress retailer reported a bigger-than-expected quarterly adjusted loss per share, hurt by charges related to the amortization of its tradename.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $24.86, -2.43 pct
The Canadian drugmaker will pay $54 million to settle civil charges that its Salix unit paid illegal kickbacks to induce doctors to prescribe seven of its products, causing the submission of thousands of fraudulent reimbursement claims to the U.S. government.
** LENDINGCLUB CORP, $4.36, -2.46 pct
** ON DECK CAPITAL INC, $5.045, -0.10 pct
Many online lenders have failed to detect the “stacking” of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. (Compiled by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)