September 11, 2014 / 1:53 PM / 4 years ago

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

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U.S. stocks opened lower on Thursday following a report showing jobless claims unexpectedly rose in the most recent week, in the latest sign that the labor market continues to struggle. The Dow Jones industrial average was down 0.35 percent at 17,008.31, the S&P 500 was down 0.30 percent at 1,989.73 and the Nasdaq Composite was down 0.36 pct at 4,570.17.

** RADIOSHACK CORP, $0.9979, +7.19 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, $10.5899, -32.16 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, $44.85, +16.83 pct

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

** GOGO INC, $17.668, +4.05 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.

** JDS UNIPHASE CORP, $13.4794, +11.35 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 (

** EMC CORP, $29.72, +0.75 pct

The data storage products maker has decided to explore selling its stake in its software unit, VMware Inc, giving into pressure from Paul Singer-run activist hedge fund Elliott Management Corp, the New York Post reported, citing sources familiar with the matter.

** ROYAL BANK OF SCOTLAND GROUP PLC, $11.26, -0.09 pct

** LLOYDS BANKING GROUP PLC, $4.86, +0.62 pct

The two major British banks, part-owned by the British government, said they would relocate to London if Scotland votes for independence, hours after a poll showed a slender lead to those who want to keep the centuries-old union with England.

** KROGER CO, $51.96, +0.17 pct

The biggest U.S. supermarket operator reported a 9 percent rise in quarterly profit, helped by the acquisition of grocer Harris Teeter Supermarkets Inc.

** TWITTER INC, $52.28, -1.19 pct

The social media company plans to raise $1.3 billion by issuing convertible senior notes, its first debt offering since its market debut in November.

Twitter will also grant initial purchasers an option to buy up to $100 million in each of the offerings.

** MASTERCARD INC, $76.185, -0.61 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, $75.85, -0.11 pct

** CBS CORP, $57.6, -0.07 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, $32.63, -2.48 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.

** FIFTH STREET FINANCE CORP, $9.8393, +0.62 pct

Brokerage Wunderlich Securities started covering the business development company’s stock with a “buy” rating and $10.50 price target.

“The company has differentiated itself by offering a relatively large investment size and can meet the capital needs of its portfolio companies,” Wunderlich analysts wrote in a note.

** NABORS INDUSTRIES LTD, $23.83, -3.83 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, $31.5, +0.35 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, $30.69, +0.56 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.

** GOOGLE INC, $590.65, -0.47 pct

Google has acquired the maker of a high-tech spoon that helps people suffering from neurodegenerative tremors to eat, in the company’s latest foray into the healthcare and biotechnology market.

** SIGMA DESIGNS INC, $5.2875, +5.75 pct

The maker of chips for Internet protocol television set-top boxes reported better-than-expected revenue a and 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, $52.93, -0.81 pct

** GOLDMAN SACHS GROUP INC, $179.68, -0.11 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.

** FIVE BELOW INC, $40.715, -3.86 pct

The teen merchandise retailer’s second-quarter same-store sales rose 3.2 percent, less than the 4 percent rise estimated by research firm Consensus Metrix.

The company expects current-quarter same-store sales to be flat to slightly positive. Five Below, which sells products at $5 and below, forecast current-quarter profit below the average analyst estimate.

** MEN’S WEARHOUSE INC, $52.06, -3.36 pct

The men’s apparel retailer reported a better-than-expected second-quarter adjusted profit. The company’s comparable-store sales increased 4.4 percent, while Jos. A. Bank comparable-store sales rose 1 percent.

The company completed its acquisition of rival Jos. A. Bank in June.

** VISTEON CORP, $107.89, +0.37 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, $45.29, +1.48 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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