September 11, 2014 / 3:24 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-RadioShack, Lululemon, Taminco, JDS

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U.S. stocks were lower in early trading Thursday as a weak jobless claims data pushed investors to continue taking profits in a market that had rallied to repeated records. The Dow Jones industrial average was down 0.24 percent at 17,028.54, the S&P 500 was down 0.14 percent at 1,992.94 and the Nasdaq Composite was down 0.23 percent at 4,576.018.

** RADIOSHACK CORP, $1.12, +20.30 pct

The troubled electronics retailer said it may need to file for bankruptcy if its cash situation worsens, after reporting its tenth straight quarterly loss.

UBS AG along with investment firm Standard General LP, is financing a rescue package for RadioShack, Bloomberg reported, quoting three people with knowledge of the matter.

** E2OPEN INC, $11.06, -29.15 pct

The Web-based business software provider reported lower-than-expected first-quarter revenue on Wednesday and forecast full-year revenue below estimates.

Pacific Crest and Needham downgraded the stock, while Canaccord Genuity and Benchmark cut their price targets.

** LULULEMON ATHLETICA INC, $44.929, +17.03 pct

The Canadian yogawear chain reported a better-than-expected quarterly profit, helped by higher online sales.

** GOGO INC, $18.21, +7.24 pct

The in-flight wireless service provider partnered with T-Mobile US Inc to offer free texting and voicemail to the telecom operator’s customers on all U.S. aircraft equipped with Gogo’s technology.

“By offering T-Mobile customers the ability to freely text and receive voicemail in-flight, we are engaging a certain segment of the plane who might not want a full connectivity session, but still wants to reach out to their network on the ground,” Gogo CEO Michael Small said.

** EASTMAN CHEMICAL CO, $84.2, +1.18 pct

** TAMINCO CORP, $26.55, +11.18 pct

Eastman Chemical said it would acquire specialty chemical company Taminco for $2.8 billion, including $1 billion in debt.

** JDS UNIPHASE CORP, $13.55, +11.94 pct

RBC Capital Markets raised its rating on the network gear maker’s shares to “outperform” from “sector perform”, according to

JDS said on Wednesday that it would split into two public companies as it looks to expand in data communication market and strengthen its network business.

Activist hedge fund Sandell Asset Management urged company to hire advisers to explore options before it the announced split, the Wall Street Journal said, citing people familiar with the matter (

** ENERGY FOCUS INC, $8.0661, +37.88 pct

The LED maker got a $7.7 million order to supply to U.S. Navy combatant ships, its largest ever order.

Most of the order is expected to be delivered throughout the remainder of 2014, Energy Focus said.

** COMCAST CORP, $57.09, +0.32 pct

** LIBERTY GLOBAL PLC, $43.535, +3.38 pct

Comcast Cable Communications LLC, a unit of cable company Comcast, said it had agreed to a deal with Liberty Global to give customers of both companies access to each other’s WiFi hotspots by 2015.

** DIGITAL ALLY INC, $23.548, +6.89 pct

The wearable video camera maker said it would introduce a “bullet camera” option for its wearable camera system next month. The new feature increases the number of wearable locations and shows “greater insight” into where an officer is looking while recording, the company said.

More than 1,300 law enforcement agencies are either using or evaluating its wearable camera, FirstVU HD. The death of Michael Brown, an unarmed Missouri teenager shot by a police officer on Aug. 9, has driven interest in wearable camera technology.

** AASTROM BIOSCIENCES INC, $2.79, -4.78 pct

The drugmaker said it would to offer about 13.7 million shares of common stock at $2.55 per share.

The offer price represents a nearly 13 percent discount to the stock’s Wednesday close. Aastrom said it expected gross proceeds of about $35 million from offering and would use the net proceeds to fund clinical and business development.

** MASTERCARD INC, $75.63, -1.33 pct

MasterCard lost its challenge at Europe’s highest court on Thursday against an EU ban on its cross-border card fees, a ruling that supports a broader regulatory drive to cut the cost of using payment cards.

** TIME WARNER INC, $76.635, +0.93 pct

** CBS CORP, $58.57, +1.61 pct

Time Warner and CBS signaled on Wednesday that they were increasingly open to making HBO and Showtime available directly to consumers over the Internet without a subscription to a cable television service.

** SEADRILL LTD, $32.78, -2.03 pct

The world’s biggest offshore driller expects the rig market to remain soft for next couple of years, Chief Financial Officer Rune Magnus Lundetrae said on Wednesday.

** NABORS INDUSTRIES LTD, $24.3, -1.94 pct

Pamplona Capital Management LLP said its private equity fund sold a roughly 8.5 percent stake in the oilfield services provider. Pamplona Capital is Nabors’ largest shareholder with an 8.54 percent stake, according to Thomson Reuters data.

** BURGER KING WORLDWIDE, $31.05, -1.08 pct

A group of U.S. senators wants Burger King to scrap its plans to invert, or move its tax domicile to Canada, as part of a deal to buy coffee and donut chain Tim Hortons Inc.

** T-MOBILE US INC, $30.9, +1.25 pct

T-Mobile US added 2.75 million customers in August, the largest number of monthly subscriber additions in its history, the carrier announced at a company event on Wednesday.

** SIGMA DESIGNS INC, $5.3126, +6.25 pct

The maker of chips for Internet protocol television set-top boxes reported better-than-expected revenue and a smaller-than-expected second-quarter loss on Wednesday as product launches helped it win customers.

Needham & Co raised its price target on the stock to $7 from $5.50 on Thursday.

** DOW CHEMICAL CO, $52.67, -1.29 pct

** GOLDMAN SACHS GROUP INC, $180.6, +0.41 pct

Dow Chemical is not entitled to more than $1 billion of tax deductions based on a decade of transactions with “sham” partnerships that Goldman and the law firm King & Spalding promoted, a federal appeals court decided on Wednesday.

** VISTEON CORP, $108.97, +1.38 pct

The auto-parts maker is exploring a plan to split into two companies focused on electronics and climate controls, Bloomberg reported, citing people familiar with the matter.

** TENARIS SA, $45.73, +2.46 pct

Morgan Stanley upgraded the Luxembourg-based steel pipe maker’s stock to “overweight” from “equal-weight” and raised its price target to $60 from $47.

“Tenaris offers an out-of-consensus play on increased U.S. shale activity and LatAm growth driven by energy reforms in Mexico and the shale boom in Argentina,” analysts wrote in a note. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Simon Jennings)

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