8 Min Read
(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 in afternoon trading on Thursday, with the S&P 500 just shy of its record high and the Nasdaq crossing its record close, as disappointing economic data bolstered the view that an interest rate hike would come only later in the year. The Dow Jones industrial average was up 0.02 percent at 18,289.17 and the S&P 500 was up 0.20 percent at 2,130.12.
** SHOPIFY INC, $26.25, +54.41 pct
Shares of the Canadian e-commerce software maker rose as much as 69 percent in their market debut on the New York Stock Exchange, valuing the company at $2.14 billion.
** INTELLIPHARMACEUTICS INTERNATIONAL INC, $3.2, +18.08 pct
The Canadian drugmaker says the U.S. FDA does not need it to conduct late-stage of its abuse-deterrent opioid painkiller if it can demonstrate bioequivalence between the drug, Rexista Oxycodone XR, and the commonly used painkiller Oxycontin.
** COVISINT CORP, $2.3876, +17.62 pct
The cloud-based supply chain software provider reported higher-than-expected fourth quarter revenue on Wednesday.
** WAVE SYSTEMS CORP, $0.6825, -16.77 pct
The maker of products for hardware-based digital security says an offering of 7.3 million units was priced at 65 cents per unit. The offer price represents a discount of about 21 percent to the stock's Wednesday close.
** PRESS GANEY HOLDINGS INC, $28.47, +13.88 pct
Shares of the provider of patient satisfaction surveys to healthcare forms rise as much as 13.7 percent to $28.43 in their debut. Press Ganey was valued at about $1.48 billion at that price.
** OPEN TEXT CORP, $42.14, -14.00 pct
The Canadian business software maker's shares down after at least nine brokerages cut price targets by as much as $11 to as low as $43. The company forecast fourth-quarter earnings below analysts' estimate on Wednesday, citing strong dollar.
** DICERNA PHARMACEUTICALS INC, $16.43, -12.09 pct
The drug developer says an offering of 2.7 million shares were priced at $17.75 per share. The offer price represents a discount of 5 percent to the stock's Wednesday close.
** CALITHERA BIOSCIENCES INC, $12.08, +11.34 pct
The biotech company says lead drug, CB-839, shows promise in patients with acute leukemia in early-stage study. Calithera reported smaller-than-expected first quarter loss this month.
** TRINA SOLAR LTD, $12.34, +11.57 pct
The Chinese solar panel maker reports better-than-expected Q1 revenue, helped by an 84 percent rise in total solar module shipments. Revenue rises 25.5 percent to $558.1 million, above the average analyst estimate of $509.3 million.
** YOUKU TUDOU INC, $26.71, +16.03 pct
China's biggest online video company's shares up after Brean Capital raises price target on the stock to $26 from $20. "We are positive on the growth momentum of the company as YOKU continues to transform its business model," Brean analysts write in a note.
** NETAPP INC, $31.0101, -12.23 pct
The data storage equipment maker reported fourth-quarter results below analysts' estimates, hurt by lower sales to original equipment manufacturers, sending its shares down more than 10 percent in extended trading.
** BEST BUY CO INC, $35.37, +4.71 pct
The largest U.S. consumer electronics chain reported better-than-expected quarterly profit and sales, helped by strong demand for large-screen TVs, smartphones and appliances.
** AMPIO PHARMACEUTICALS INC, $2.5, +23.15 pct
The drug developer says its experimental eye drug was found effective in improving vision in patients with diabetic macular edema, in a mid-stage study.
** LUMBER LIQUIDATORS HOLDINGS INC, $21.58, -14.60 pct
Lumber Liquidators said Chief Executive Robert Lynch had resigned unexpectedly, even as the company continues to face fire over reports that it sourced flooring laminates with excessive levels of a known carcinogen.
** BRUKER CORP, $19.3, -13.10 pct
Two brokerages downgraded the scientific instrument manufacturer's shares on the news that the company's chief financial officer had resigned. Mizuho Securities cut to "neutral" from "buy" and William Blair to "market perform", according to theflyonthewall.com.
** BOOZ ALLEN HAMILTON HOLDING CORP, $25.55, -10.35 pct
The company, which provides consultancy services to the U.S. government, reported lower-than-expected Q4 profit and revenue, hurt by weak government spending. Booz Allen also forecast a full-year profit, lower than analysts' average estimate.
** BAOZUN INC, $10.77, +7.70 pct
Shares of China's Baozun, in which Alibaba holds a nearly 20 percent stake, traded erratically in their debut on Thursday, sending the e-commerce services company's valuation seesawing. The company's ADSs touched a high of $11.28, valuing it at $548.3 million, before reversing course all the way down to $9.23 per ADS.
** WOODWARD INC, $53.85, +5.42 pct
The aerospace materials and parts supplier said on Wednesday it was forming a joint venture with General Electric unit GE Aviation for fuel systems for GE's large commercial aircraft engine lines.
** EZCORP INC, $8.39, -6.67 pct
The pawn and payday lender said total revenue in the U.S. and Canada segment fell 4 percent in the second quarter, mainly due to a decline in jewelry scrapping sales.
** KIRKLAND'S INC, $26.99, +7.36 pct
The home decor retailer reports better-than-expected first quarter sales and profit, helped by a 3 percent rise in same-store sales and strong merchandise margins. Kirkland also plans to pay a special cash dividend of $1.50 per share.
** 500.COM LTD, $21.23, -9.93 pct
Deutsche Bank cuts rating on the Chinese online lottery company's stock to "sell" from "hold", according to Theflyonthewall.com.
** STRATASYS LTD, $37.309, +6.69 pct
Oppenheimer upgrades the 3D printer maker's stock to "outperform", according to Benzinga.com.
** SWIFT ENERGY CO, $2.28, +3.17 pct
** PIONEER ENERGY SERVICES CORP, $7.665, +4.86 pct
** OASIS PETROLEUM INC, $16.855, +5.34 pct
** SEADRILL LTD, $13.85, +8.20 pct
U.S.-listed shares of oil and gas companies rise after oil prices increase, supported by fighting in Iraq and expectations that global supply glut is starting to ease. Brent crude up 1.4 percent at $65.94 per barrel at 10:00 a.m. ET; U.S. crude up 2.1 percent at $60.22.
** SHAKE SHACK INC, $88.7, +7.06 pct
The hamburger chain operator's unit SSE IP filed an application on April 20 to trademark "Chicken Shack" for chicken sandwiches, according to a filing.
** SALESFORCE.COM INC, $72.72, +3.65 pct
The cloud software company, the subject of takeover speculation for the past few weeks, raised its revenue forecast for the full year after it reported a profit for the first time in seven quarters.
** 8X8 INC, $8.8225, +3.67 pct
The communications services provider posts fourth-quarter revenue, profit above analysts' estimates as it earned more from each customer. Craig-Hallum Capital Group LLC raises price target on the stock to $11 from $10.
** FATE THERAPEUTICS INC, $5.9499, -3.10 pct
The drug developer says an offering of 6 million shares was priced at $5 per share. The offer price represents a discount of 18.5 percent to the stock's Wednesday close. Fate says it expects proceeds of about $27.7 million after deductions which it plans to use for clinical development and research, working capital and other general corporate purposes. (Compiled by Kshitiz Goliya in Bengaluru; Edited by Maju Samuel)