(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) Bank shares led gains Friday on Wall Street after November payrolls data came in much stronger than anticipated. The Dow Jones industrial average was up 0.38 percent at 17,968.47, the S&P 500 was up 0.25 percent at 2,077.05 and the Nasdaq Composite was up 0.21 percent at 4,779.75.
BREAKINGVIEWS-U.S. jobs end 2014 with surge - and issues for Fed
Graphic on jobs report, (reut.rs/1vU9TyI)
Graphic on U.S. labor market, (reut.rs/1xK3PHy)
** JPMORGAN CHASE & CO, $62.8, +2.31 pct
The U.S. bank’s shares touched a 14-year high after Chief Executive Jamie Dimon said medical tests showed no evidence of cancer in his body. Dimon was diagnosed with throat cancer in July and was undergoing treatment.
The bank retained its crown as the top performing investment bank in the first nine months of the year, having made revenue of $17.1 billion in the year-to-date, new data showed on Friday.
** DELIA*S INC, $0.018, -84.60 pct
The teen apparel and accessories retailer said it will file for Chapter 11 bankruptcy protection in “the very near term,” liquidating all merchandise and assets in stores. Delia*s announcement wiped out more than 85 percent of the company’s market value on Friday.
** ACTUATE CORP, $6.55, +87.14 pct
Canadian software maker OpenText Corp said it would buy California-based Actuate for $6.60 per share, or $330 million, in cash. Offer represents an 89 percent premium to Actuate’s Thursday close of $3.50.
** ALASKA COMMUNICATIONS SYSTEMS GROUP INC, $1.82, +46.77 pct
The communication services company said it planned to sell its 33 percent stake in Alaska Wireless Network Inc and its wireless business to General Communication Inc for $300 million in cash.
** RALLY SOFTWARE DEVELOPMENT CORP, $8.7, -14.12 pct
The software maker reported a wider third-quarter adjusted loss of $5.6 million due to increased costs. Separately, the company named Chief Marketing Officer Angela Tucci as its first chief revenue officer.
** AMERICAN EAGLE OUTFITTERS INC, $11.78, -14.70 pct
The teen apparel retailer forecast a current-quarter profit that missed analysts’ estimates and reported its fifth straight fall quarterly income as weak mall traffic and online competition hurt sales.
** FRANCESCA HOLDINGS CORP, $15.02, +29.93 pct
The apparel and accessories maker said Michael Barnes has replaced Neill Davis as CEO. Barnes joins after four years as CEO of Signet Jewelers Ltd.
Barnes’ knowledge of accessories and jewelry market, which makes for 40 percent of sales, renders him an “outstanding” candidate to lead the company, Cowen & Co analysts write in a note titled “FRAN Lands A Superstar”.
** FIVE BELOW INC, $36.84, -14.03 pct
At least 3 brokerages, including Deutsche Bank, cut their price target on the teen merchandise retailer’s stock by as much as $3 to as low as $40. Median price target is $47.50.
Five Below cut its full-year sales forecast to $678 million-$682 million from $681 million-$687 million on Thursday.
** BIG LOTS INC, $40.83, -14.85 pct
The discount retailer’s reported a bigger-than-anticipated third-quarter loss due to weak demand for its home improvement products, electronics and toys.
** NORTHROP GRUMMAN CO, $147.98, +5.82 pct
Goldman Sachs added the company to “America’s conviction buy” list and raised price target to $165 from $163, well above the median price target of $141.50. “NOC is the largest sub-contractor on the Pentagon’s single largest growth program and we think next year becomes the prime on another large growth program,” Noah Poponak says in the note.
** ATOSSA GENETICS INC, $0.97, +16.73 pct
The medical device maker said it received Establishment Inspection Report (EIR) from the FDA.
“The EIRs mean they have ‘passed’ their inspections and they can move ahead with other programs,” Dawson James Securities’ analyst Robert Wasserman told Reuters.
** ITT EDUCATIONAL SERVICES INC, $9.76, +30.48 pct
The for-profit education provider said it borrowed $100 million from Cerberus Business Finance and will end year with $150 million in cash and equivalents. U.S. for-profit education industry has faced shortage of funds this year as government crackdowns drove away investors.
** SILICON IMAGE INC, $6.83, +14.02 pct
Mobile chipmaker Qualcomm Inc’s unit invested $7 mln for a 7 pct stake in Silicon’s new subsidiary Qterics Inc, Silicon said late on Thursday.
** MIDCOAST ENERGY PARTNERS LP, $16, +12.20 pct
The natural gas company said it expected 2015 adjusted EBITDA of $120 million-$135 million, increase of about 67 pct over what it forecast for 2014.
** VITESSE SEMICONDUCTOR CORP, $3.64, +17.42 pct
The company reported smaller-than-expected fourth-quarter loss and better-than-expected revenue, helped by higher sales of switches used in transition to more data efficient networks.
Needham & Co raises target price to $5 from $3.9.
** GLOBAL PARTNERS LP, $38.98, -6.95 pct
The petroleum products company’s public offering of 3.6 million common units was priced at $40.24 per unit, a discount of 3.9 pct to the stock’s Thursday close. The offering represents about 13 pct of company’s outstanding shares.
** QUANTUM CORP, $1.75, +4.17 pct
The data storage company’s director Gregg Powers bought 50,000 shares at $1.64 per share on Wednesday. The purchase price was 3.1 pct higher than the stock’s Tuesday close.
** FIAT CHRYSLER AUTOMOBILES, $13.67, +3.40 pct
The company launched an expected share offer and a $2.5 billion mandatory convertible bond as it seeks to reduce its mounting debt pile and fund an ambitious five-year investment plan.
** PENN VIRGINIA CORP, $4.9, -1.41 pct
** CALIFORNIA RESOURCES CORP, $6.29, +87.14 pct
** ABRAXAS PETROLEUM CORP, $2.719, -2.54 pct
Brent crude price slips below $69 per barrel on Friday, on track to finish week below $70 per barrel for first time since 2010, as cuts to official selling prices from Saudi Arabia added to recent pressure.
** COOPER COMPANIES INC, $161.8, -4.13 pct
The medical device maker reported lower-than-expected fourth-quarter earnings per share late on Thursday as gross margins fell.
** AVIS BUDGET GROUP INC, $62.825, +2.72 pct
Credit Suisse starts coverage with “outperform” rating and $72 price target, according to Benzinga.com.
** RADIOSHACK CORP $0.5609, -4.93 pct
The electronics retailer will stop matching employees’ retirement-fund contributions and review health benefits to help cut costs, Bloomberg reported on Thursday, citing an internal memo. (Compiled by Amrutha Penumudi in Bengaluru; Editing by Sriraj Kalluvila)