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U.S. stock indexes were down slightly on Friday as weak economic data pointed to a lack of momentum in the economy, a day after the S&P 500 closed at a record high. The Dow Jones industrial average was down 0.09 percent at 18,235.52, the S&P 500 was down 0.09 percent at 2,119.11 and the Nasdaq Composite was down 0.23 percent at 5,039.181.
** SORRENTO THERAPEUTICS INC, $13.08, +13.74 pct
The drug developer said privately held NantWorks LLC had agreed to acquire its unit, Igdrasol Inc, to acquire the rights to cancer drug Cynviloq for about $90 million upfront.
** SHAKE SHACK INC, $71.24, +8.76 pct
JP Morgan and Barclays raised their price targets on the hamburger chain operator’s stock after the company reported a surprise first-quarter profit on Wednesday.
** OVASCIENCE INC, $29.04, +5.03 pct
The fertility treatment provider said data showed that its fertility treatment improved pregnancy rate in women with poor prognoses.
** DEERE & CO, $88.74, -3.76 pct
JP Morgan cut its rating on the farm equipment maker’s stock to “underweight” from “neutral” and price target to $84 from $90, citing “far too many” high horsepower Deere tractors in the used equipment market that are likely to weigh on new tractor sales.
** KEURIG GREEN MOUNTAIN INC, $95.26, -7.58 pct
The K-cup coffee pod maker will not make available its new cold brewing system in all its retail outlets until next year, Bloomberg reported on Thursday.
** EL POLLO LOCO HOLDINGS INC, $24.7899, -14.69 pct
The restaurant chain operator reported weaker-than-expected quarterly comparable sales and forecast a full-year profit largely below estimates as customer traffic at its restaurants grew at its slowest pace since the company went public in July last year.
** CHINA LODGING GROUP LTD, $24.98, +21.32 pct
JP Morgan raised its rating on the China-based multi-brand hotel group’s stock to “overweight” from “neutral” and price target to $25 from $23, citing the company’s “rapid growth” in fees from managed and franchised hotels.
** HHGREGG INC, $4.62, -12.33 pct
The electronics and furniture retailer reported a bigger-than-expected adjusted loss and smaller-than-expected revenue for the fourth quarter, hurt by lower sales in its appliances business.
** DARLING INGREDIENTS INC, $15.61, +10.79 pct
The food ingredient maker reported a better-than-expected first-quarter profit, helped by a fall in operating expenses and costs related to the VION Ingredients acquisition.
** NETFLIX INC, $616.14, +4.99 pct
The video streaming company is in talks with Jack Ma-backed Wasu Media Holding Co and other potential partners to enter China’s booming online video market, Bloomberg reported, citing people familiar with the matter.
** MAGNEGAS CORP, $1.287, +41.43 pct
The alternative fuel maker said it would supply metal-cutting fuel to the U.S. Navy.
** TRILLIUM THERAPEUTICS INC, $20.0996, +8.24 pct
Oppenheimer & Co started covering the Canada-based drugmaker’s stock with an “outperform” rating and a price target of $32.
** HERTZ GLOBAL HOLDINGS INC, $20.56, +5.11 pct
** AVIS BUDGET GROUP INC, $55.52, +8.71 pct
Jana Partners said it raised its stake in Hertz. Morgan Stanley said Hertz’s decision to raise prices should provide short-term relief to Hertz and Avis Budget investors.
** ARCADIA BIOSCIENCES INC, $7.28, -9.00 pct
The agricultural biotech company’s shares fell in their debut after missing the original pricing window. The stock opened at $7.49 and fell to an intraday low of $7.07. The revised offering of 8.2 million shares was priced at $8 per share and it raised $66 million.
** CELLADON CORP, $2.1916, -6.74 pct
The gene therapy developer reported a bigger-than-expected first-quarter loss. Celladon’s Chief Executive Krisztina Zsebo said the company was evaluating strategic options to determine the best path forward.
“... We do not recommend investors buy Celladon shares until a new strategy is elucidated,” said Stifel’s Brian Klein.
** PERNIX THERAPEUTICS, $6.9, +6.81 pct
The drugmaker said the U.S. Food and Drug Administration approved Treximet to also treat migraine in pediatric patients. Treximet, already approved to treat adults, had previously won six months pediatric exclusivity.
** PLASMATECH BIOPHARMACEUTICALS INC, $8, -4.08 pct
The drug developer filed for a secondary shelf offering of 1.93 million shares, or 8 percent of outstanding shares. The offering is expected to raise as much as $14.1 million at a proposed maximum offering price of $7.31 per share. (bit.ly/1KR9eUK)
** PRO-DEX INC, $2.18, +6.86 pct
The surgical and dental device maker reported a smaller third-quarter loss, helped by higher medical device sales.
** PAYCOM SOFTWARE INC, $35.25, -10.17 pct
The cloud-based human resources software maker’s top shareholder reduced its stake in the company via a registered block. Welsh, Carson Anderson & Stowe and insiders offered 8 million shares at $36.25 per share, which represents a 7.6 percent discount to the stock’s Thursday.
** SINOVAC BIOTECH LTD, $5.45, -2.85 pct
The drug developer reported a first-quarter loss of $2.2 million, compared with a profit of $4,000 a year earlier, hurt by a 32 percent drop in sales.
** CLOVIS ONCOLOGY, $93.101, -7.27 pct
A top-ranked Piper Jaffray analyst downgraded the cancer drug developer’s stock to “neutral”. Piper analyst Charles Duncan, ranked 5-stars on StarMine, said the “point of maximal optimism may have been reached for the clinical data and we await in-market experience to better inform our outlook.”
** FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC , $16.66, -2.00 pct
The company’s shares debuted at $16, below the offer price of $17, and touched a low of $15.85, valuing the company at about $1.17 billion.
** YUM BRANDS INC, $92.96, +3.27 pct
The likelihood is growing that Yum Brands will spin off its China business, J.P. Morgan said in a note, upgrading the company’s shares to “overweight” from “neutral”.
** APPLIED MATERIALS INC, $20.245, +1.94 pct
The No. 1 maker of machinery used to make semiconductor chips posted quarterly profit and revenue above market estimates, largely driven by demand from makers of memory chips.
** DRAGONWAVE INC, $0.66, +6.50 pct
The Canadian wireless networking equipment maker signed a deal with an Indian mobile operator to provide equipment and services to support the company’s upgrade into 3G and 4G wireless services in the country.
** PANDORA MEDIA INC, $18.36, -2.39 pct
The Internet radio service said it would appeal a rate court ruling that could force the company to pay higher royalties to Broadcast Music Inc for music licenses. (Compiled by Manya Venkatesh in Bengaluru; Editing by Kirti Pandey)