(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 fell on Thursday as energy shares slumped, with the broad S&P 500 handing back some gains from the prior session sparked by a policy statement from the Federal Reserve that was more dovish than expected. The Dow Jones industrial average was down 0.62 percent at 17,963.6 and the S&P 500 was down 0.48 percent at 2,089.44.
** CORONADO BIOSCIENCES INC, $4.36, +35.40 pct
The drug developer partnered with cancer research hospital City of Hope in Duarte, California to develop and market its chimeric antigen receptor technology, a cell therapy intended to fight cancer. The company formed Mustang Therapeutics Inc as part of the $40 million deal.
** VINCE HOLDING CORP,, $17.97, -15.99 pct
The high-end apparel maker forecast 2015 profit and sales below analysts’ estimates, hurt by higher spending. Vince also reported lower-than-expected fourth quarter sales, mainly due to weak demand in the wholesale business, its biggest business by revenue.
** FACEBOOK INC, $82.7801, +2.31 pct
The social media website operator’s shares hit a record high of $82.93 on Thursday. The stock has gained 6 percent since its close on Monday, a day before Facebook announced a payment service for messenger app. The service, to be launched in coming months, would allow users to send to or receive money from other users via the Facebook messenger app, using Visa or MasterCard debit cards issued by U.S. banks.
** GUESS INC, $19.34, +15.53 pct
The apparel retailer reported better-than-expected fourth quarter profit on Wednesday as expenses fell and online sales rose. Lowered promotions, lean inventories and improving product response helping results, Jefferies & Co analyst Randal Konik wrote in a note. However, Konik cut price target to $21 from $23, saying company not out of the woods yet.
** AMICUS THERAPEUTICS INC, $12.84, +37.33 pct
The drug developer said that for marketing approval of its Fabry disease drug, migalastat, U.S. FDA is willing to consider goals achieved in two late-stage studies. The company said it plans to meet the FDA again and submit marketing application in the second half of 2015.
** SUNGY MOBILE LTD, $3.84, -22.27 pct
The Chinese mobile applications developer’s fourth-quarter revenue fell 23 percent.
** DIGITAL TURBINE INC, $3.36, -13.40 pct
The mobile phone content developer filed for a mixed shelf offering of up to $100 million.
** TILLY’S INC, $14.88, +10.88 pct
The apparel and accessories retailer reported better-than-expected fourth-quarter profit and sales as demand rose and margins increased. B. Riley & Co and at least two other brokerages raised their price targets on the stock to as much as $17.
** NEVRO CORP, $47.82, +13.24 pct
The medical device maker reported better-than-expected fourth quarter revenue. Nevro also forecast international revenue of $36 million-$38 million for 2015, up 11-17 percent from 2014.
** ALTISOURCE PORTFOLIO SOLUTIONS SA, $12.49, -9.82 pct
** OCWEN FINANCIAL CORP, $8.15, -6.64 pct
Mortgage servicer Ocwen’s affiliate, Altisource Portfolio, down after Leon Cooperman, CEO of hedge fund Omega Advisors, cut his stake by 11.8 percent. Cooperman who sold $4.2 million shares on March 16 and 17, according to a filing, now holds nearly 2 million shares.
** NAVIOS MARITIME HOLDINGS INC, $4.57, +6.28 pct
** SCORPIO BULKERS INC, $2.45, +3.38 pct
** KNIGHTSBRIDGE SHIPPING LTD, $4.69, +1.74 pct
** SAFE BULKERS INC, $3.44, +4.24 pct
Shares of the dry bulk shippers rose as the Baltic Exchange’s main sea freight index rose. The index rose 2.3 percent at 584 points, helped by higher demand across all vessel businesses. Baltic’s capesize index was up about 14 percent.
** NORDIC AMERICAN TANKER, $11.34, +4.90 pct
CEO Herbjorn Hansson boosts stake in the tanker operator by buying 50,000 shares on Wednesday at $10.50 per share in a sign of confidence in the company.
“2015 has had a very strong start with the most active tanker market we have seen in years,” Hansson said in letter to shareholders.
** POTASH CORP OF SASKATCHEWAN INC, $32.33, -4.07 pct
** AGRIUM INC, $108, -3.09 pct
** MOSAIC CO, $46.52, -2.17 pct
Shares of potash-producing companies tumbled on Thursday after the Canadian province of Saskatchewan made a change in the way it taxes them and Belarus settled a supply contract with Chinese buyers at a lower than expected price.
** RITE AID CORP, $8.235, +2.68 pct
Thursday was the third day of above-normal options activity for the stock, with total options volume of 85,000, four times normal, by 10:50 a.m. ET, according to Trade Alert data.
S&P Ratings Services raised rating to “positive” from “stable” on Thursday; also changed assessment of company’s business risk profile to “fair” from “weak”.
** MERITOR INC, $12.23, -10.60 pct
Barclays cut its rating on the truck parts maker’s shares to “equal weight” from “overweight”, and target price to $15 from $17. The stock was among the top NYSE percentage losers in what was its steepest drop since Jan. 28 when Meritor posted weak results.
** SHOE CARNIVAL INC, $26.2008, +8.18 pct
Susquehanna Financial Group raised its price target on the footwear retailer’s stock to $30 from $29; Sterne Agee raised its target to $32 from $25.
** HEALTH INSURANCE INNOVATIONS INC, $8.76, +16.33 pct
The cloud-based healthcare manager posted fourth-quarter adjusted earnings of 12 cents per share, well above the average analyst estimate of 6 cents per share. Revenue increased 67 percent to $26.5 million primarily due to an increase in the number of policies in force.
** NATIONAL COMMERCE CORP, $21.01, +7.74 pct
The bank holding company’s IPO raised $33.2 million after its upsized offering of 1.7 million shares were priced at $19.50 per share, at the mid-point of the expected range of $18.50-$20.50.
** SWIFT ENERGY CO,$2.2, -13.39 pct
** APPROACH RESOURCES INC, $6.76, -3.01 pct
** GOODRICH PETROLEUM CORP, $3.01, -7.38 pct
** STONE ENERGY CORP, $14.43, -6.60 pct
** SM ENERGY CO, $44.8, -4.96 pct
** SEVENTY SEVEN ENERGY INC, $3.06, -1.29 pct
Shares of the oil companies down as oil fell after Kuwait said OPEC had no choice but to keep production steady. Brent was down 2.6 percent at $54.43 per barrel by 1410 GMT and U.S. crude was down 3.6 percent at $43.06.
** CONCERT PHARMACEUTICALS INC, $15.0075, -9.32 pct
The drug developer announced an offering of 3.3 million shares at $15.15 each, a discount of 8 percent to Wednesday’s close of $16.55. Joint bookrunners Wells Fargo and JMP Securities marketed the shares in a range of $15-$16, sources told Reuters.
** RMG NETWORKS HOLDING CORP, $1.53, -13.56 pct
The digital signage platform provider said it signed a non-binding letter of intent to sell its media business, called RMG Airline Media Network, for $5.5 million, excluding certain liabilities. RMG, which did not name the potential buyer, said contemplated sale did not include RMG Office Media Network.
** HORIZON TECHNOLOGY FINANCE CORP, $13.77, -3.71 pct
The specialty finance company’s offering of 2.4 million shares was priced at $13.95 per share, a discount of 2.4 percent to the stock’s Wednesday close. The offering represents about 25 percent of the company’s outstanding stock as of March 18.
** NUCOR CORP, $46.11, -6.41 pct
The U.S. steelmaker cut its first-quarter profit forecast, hurt by a fall in steel prices due to higher imports. Nucor estimated on Thursday earnings of 10-15 cents per share for the quarter ending April 4.
** RETROPHIN INC, $21.5001, +6.59 pct
The drugmaker’s public offering of 6.8 million shares was priced at $19 per share. The offer price represents 6 percent discount to the stock’s Wednesday close.
** CLIFFS NATURAL RESOURCES INC, $4.31, -5.90 pct
Canada’s Bank of Nova Scotia sued Cliffs Natural Resources Inc, saying the U.S. iron ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations.
** HERON THERAPEUTICS INC, $15.82, +5.75 pct
The drug developer said its experimental drug, HTX-011, was effective in reducing pain after surgery in early-stage study. The drug, a combination of local anesthetic with anti-inflammatory drug meloxicam, is being tested as potential alternative to opioids.
** CHESAPEAKE ENERGY CORP, $13.44, -4.88 pct
Sterne Agee cut its rating on the oil and gas producer’s stock to “underperform” from “neutral”, according to StreetInsider.com. “Near-term drilling focus in the Haynesville shale and Mississippian Lime does not appear to be returns-focused,” analyst Timothy Rezvan wrote in note, according to StreetInsider.com.
** FREEPORT-MCMORAN INC, $17.14, -5.98 pct
Production has been halted at the miner’s copper mine in Indonesia as more than 50 workers blocked an access road to the Grasberg site for a fourth consecutive day, union officials said.
** ENDEAVOUR SILVER, $12.23, -10.60 pct
The silver miner’s shares rise for the second straight session on higher silver prices and company’s hiked production forecast. The company on Tuesday said it would expand its Mexico mine to boost output, raised its 2015 silver production forecast by 11 percent. (Compiled by Kshitiz Goliya; Edited by Maju Samuel)