(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. stock indexes rose sharply on Thursday as weekly jobless claims fell and the dollar slid to its lowest in nearly four months amid a choppy bond market. The Dow Jones industrial average was up 1.02 percent at 18,243.96, the S&P 500 was up 0.98 percent at 2,119.06 and the Nasdaq Composite was up 1.26 percent at 5,044.23.
** APPLE INC, $128.7075, +2.14 pct
The iPhone maker is expected to pay a dividend of 52 cents per share on Thursday. Many investors reinvest the dividend in the company’s shares.
** SHAKE SHACK INC, $71.34, +4.36 pct
The hamburger chain operator reported a surprise quarterly profit as it raised prices for its hormone- and antibiotic-free burgers, popular with increasingly health-conscious U.S. customers. Same-restaurant sales rose 11.7 percent against estimates of 5.1 percent.
Jefferies raised its price target to $60 from $40, citing the company’s “supercharged growth”.
** HEALTH INSURANCE INNOVATIONS INC, $5.93, -23.48 pct
The cloud-based healthcare manager posted a lower-than-expected first-quarter profit, hurt by higher operating expenses. Raymond James & Associates lowered its price target on the company’s stock to $9.50 from $12.50, citing “disappointing first-quarter results.”
** FIBROGEN INC, $21.8, -7.63 pct
The company’s shares fell after the expiration of lock-up agreements that had restricted the sale of the stock. About 82 percent of the company’s shares were restricted ahead of the May 13 expiration, Fibrogen said in its quarterly report filed with the SEC earlier this week.
** AVON PRODUCTS INC, $7.05, +5.70 pct
The company’s shares soared after an apparently non-existent firm based on an Indian Ocean island with no significant civilian population said it had offered to buy Avon for almost three times its market value. Avon said it had not received an offer.
** CYREN LTD, $3.3, +9.63 pct
The Israeli cybersecurity software maker announced an agreement with Dell that adds its anti-malware technology to Dell SonicWALL Email Security appliances, software, virtual appliances and hosted services.
** PUMA BIOTECHNOLOGY INC, $171.7, -18.13 pct
Details from a late-stage trial of Puma’s experimental breast cancer pill neratinib showed that it improved disease-free survival for certain breast cancer patients, but only by 2.3 months.
That is less than the absolute benefit of at least 3 percent that investors were expecting, said Cowen & Co analyst Eric Schmidt.
** KOHL’S CORP, $65.84, -11.64 pct
The department store operator reported lower-than-expected quarterly same-store sales growth, hurt by colder-than-usual weather in February.
Kohl’s same-store sales rose 1.4 percent in the first quarter ended May 2. Analysts on average had expected an increase of 2.6 percent, according to research firm Consensus Metrix.
** DIGITAL ALLY INC, $16.1108, -11.96 pct
The wearable camera maker posted a bigger quarterly loss, hurt by a 26 percent jump in expenses.
The company also said that many U.S. police departments have delayed their purchases of body-worn and in-car video systems.
** TOWER SEMICONDUCTOR LTD, $15.97, +4.58 pct
Ascendiant Capital raised its price target on the Israeli chipmaker’s stock to $28 from $24, citing the company’s “solid” first-quarter results. The company’s TowerJazz unit reported a better-than-expected net profit on Wednesday, partly due to revenue from its joint venture with Panasonic Corp.
** FIREEYE INC, $42.37, -2.51 pct
Cisco Systems Inc’s outgoing CEO John Chambers dispelled rumors that the company had bid for cybersecurity firm FireEye.
FireEye shares had risen as much as 5.5 percent on Wednesday after a SeekingAlpha article cited a “vague” rumor that Cisco had bid $9 billion for FireEye.
** J.C. PENNEY CO INC, $8.195, -5.91 pct
The department store operator’s first-quarter same-store sales rose less than expected due to a slowdown in sales at the end of the quarter.
** NOVOGEN LTD, $6.3001, +3.79 pct
The Australian cancer drug maker’s Anisina was found effective as a monotherapy in treating a type of skin cancer in animal tests.
In March, an Anisina study confirmed the concept that a powerful anti-cancer effect could be achieved by destroying both the key components of a cancer cells ‘skeleton’, instead of only one component as most drugs do.
** CTRIP.COM INTERNATIONAL LTD, $71.35, +9.16 pct
The Chinese online travel company reported a smaller-than-expected first-quarter loss and higher-than-expected revenue, helped by higher accommodation reservation volumes.
Brean Capital raised its price target on the stock to $96 from $70 and reiterated its “buy” rating, while Oppenheimer & Co raised the stock to “outperform” from “perform”. Stifel Nicolaus & Co raised the stock to “buy” from “hold.”
** VASCULAR BIOGENICS LTD, $5.7599, +41.17 pct
The company’s lead drug showed promise in treating Muellerian cancer, which mostly affects the uterus.
** ONCOTHYREON INC, $1.89, +27.70 pct
There are early signs that the company’s drug, ONT-380, was effective in preventing breast cancer from spreading to the central nervous system.
** ACELRX PHARMACEUTICALS INC, $3.305, +9.80 pct
The drug developer won a $17 million contract from the Department of Defense (DOD) to advance the development of its experimental pain drug, ARX-04.
DOD will also reimburse AcelRx costs for developing the drug. AcelRx received a $5.6 million grant from the DOD in 2011 to fund a mid-stage trial.
** GEVO INC, $3.89, -12.98 pct
The chemicals and biofuel maker’s offering of 4.3 million common stock units was priced at $4 per unit. The offering is expected to raise gross proceeds of about $17 million.
Gevo has 9.75 million shares outstanding, according to Thomson Reuters data.
** COMPUTER SCIENCES CORP, $67.15, +4.09 pct
The technology consulting services provider is planning to separate its government business from its commercial information technology division, people familiar with the matter said on Thursday.
** PARAGON OFFSHORE PLC, $1.85, +5.71 pct
The driller’s quarterly revenue and profit beat estimates for the fourth quarter in a row. The company’s first-quarter earnings per share was double what analysts were expecting as costs fell and the average dayrate rose. The beat was driven by stronger-than-expected contract drilling service revenue and margins, Evercore ISI said.
** CAMTEK LTD, $2.94, -13.01 pct
The Israeli chip testing equipment maker’s stock offering was priced at $2.85 per share, a discount of 15.6 percent to the stock’s Wednesday close. The offering of 4.3 million shares represents about 14 percent of Camtek’s outstanding shares.
** COSI INC, $2.04, -6.85 pct
The fast-casual restaurant operator reported a bigger-than-expected first-quarter loss and lower-than-expected revenue after restaurant closures. Cosi reported a loss of 12 cents per share and revenue of $17.9 million. Analysts on average had expected a loss of 3 cents per share and revenue of $23.5 million. Cosi had 63 company-owned restaurants as of March 30, compared with 72 a year earlier. (bit.ly/1G9fKHk)
** QIWI PLC, $34.01, +13.82 pct
The Russian payment services provider acquired Otkritie Financial Corp’s money remittance business, Contact, and payment processing unit, Rapida. J.P. Morgan Cazenove analysts raised their price target on the stock to $50 from $38. The Contact deal will more than quadruple Qiwi’s money remittance business and market share, and push payment volumes up by 30 percent, the analysts wrote in a note.
Qiwi also reported a better-than-expected 42 percent jump in its first-quarter adjusted profit.
** IDENTIV INC, $7.17, -19.44 pct
The secure identification services provider reported lower-than-expected revenue for the first quarter and cut its full-year revenue forecast. “We experienced an unexpected decline in ... our international desktop reader business and generally unfavorable conditions in Europe ... and an unfavorable foreign currency impact,” Chief Executive Jason Hart said.
Cowen & Co cut its price target on the stock to $18 from $24.
** JONES ENERGY INC, $9.895, -12.82 pct
The oil and gas producer offered 5 million shares owned by Metalmark Capital LLC, representing 22 percent of Metalmark’s stake in Jones Energy.
The offering was priced at $10 per share, which represents at 11.9 percent discount to the stock’s Wednesday close. The offering size represents about 8.1 percent of Jones’ outstanding shares.
** PERRY ELLIS INTERNATIONAL INC, $25.555, +6.35 pct
The apparel retailer raised its adjusted profit forecast for the year ending January to $1.68-$1.75 per share from $1.45-$1.55. Analysts on average were expecting $1.49 per share.
Perry Ellis also reported better-than-expected quarterly revenue and profit, helped by higher sales of its core brands, Perry Ellis and Original Penguin, and in its golf lifestyle apparel business.
** CYPRESS SEMICONDUCTOR CORP, $13.18, +4.19 pct
** INTEGRATED SILICON SOLUTION INC, $20.115, +7.34 pct
Cypress Semiconductor said it offered to buy Integrated Silicon Solution for $19.75 per share in cash, trumping an offer by a Chinese consortium led by Summitview Capital. Cypress’s cash offer values Integrated Silicon at $627.3 million, based on about 31.8 million shares outstanding as of May 1, according to Thomson Reuters data.
** HARLEY-DAVIDSON INC, $54.19, -2.89 pct
Research from Investment Technology Group said the bike maker’s U.S. retail unit sales trends have apparently kicked off the second quarter weaker than the last quarter. “Our initial forecast for the quarter is well below the Street average,” ITG said.
** GOLDCORP INC, $19.64, +1.08 pct
** SILVER STANDARD RESOURCES INC, $6.5, +4.17 pct
** ENDEAVOUR SILVER CORP, $2.26, +2.26 pct
Gold and silver prices hit multi-month highs in response to a weaker dollar. Spot gold jumped to the highest since Feb. 17 at $1,226.20 an ounce, while silver rose to a three-month high of $17.52 an ounce.
** KANSAS CITY SOUTHERN, $95.33, -1.83 pct
The railroad company withdrew its 2015 revenue and volume forecast due to uncertainty surrounding energy-related markets and the impact of foreign exchange. (1.usa.gov/1IDerRh)
Kansas City also authorized a share buyback program of up to $500 million.
** NETEASE INC, $142.4278, +9.56 pct
The Chinese online game developer reported a 55 percent jump in its first-quarter net revenue, helped by higher demand for its self-developed mobile games such as Battle to the West and the World HD.
The mobile version of Fantasy Westward Journey, the company’s flagship game, reached No. 1 in the iOS China app store. (Compiled by Shubhankar Chakravorty in Bengaluru; Editing by Kirti Pandey)