June 10, 2015 / 6:21 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-HCC, Francesca's, Netflix, IBM, Himax

(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 were higher in afternoon trading on Wednesday after a Bloomberg report that Germany may be satisfied with Greece committing to at least one economic reform in return for aid. The Dow Jones industrial average was up 1.44 percent at 18,019.92, the S&P 500 was up 1.28 percent at 2,106.76 and the Nasdaq Composite was up 1.37 percent at 5,082.417.

** HCC INSURANCE HOLDINGS INC, $77.28, +36.32 pct

Tokio Marine Holdings Inc said on Wednesday it had agreed to buy U.S. specialty insurer HCC Insurance Holdings for $7.5 billion, in what would be the biggest M&A deal this year by a Japanese company.

** BOULDER BRANDS INC, $7.03, -20.83 pct

The natural packaged food maker said Chief Executive Stephen Hughes resigned and it expected sales to fall in the second quarter, sending its shares down 15.5 percent in premarket trading.

** GLOBEIMMUNE INC, $2.86, -25.33 pct

The drug developer said it would cut most of its jobs and look for strategic alternatives, weeks after the mid-stage study of its lead pipeline drug failed to meet the main goal.

** RECON TECHNOLOGY LTD, $2.06, +24.85 pct

The Chinese oilfield services provider was selected as a qualified contractor by a unit of China Petroleum & Chemical Corp, one of its biggest customers.

** NETFLIX INC, $675, +4.30 pct

The company’s shareholders on Tuesday approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split.


Zhejiang Aokang Shoes Co Ltd acquired 26.66 percent stake in the company at $6.30 per ADS. The companies will jointly develop Internet Plus strategy - using the Internet to integrate online and offline resources for traditional manufacturers.

** FRANCESCA’S HOLDINGS CORP, $13.825, -14.02 pct

The women’s apparel and accessories retailer reported lower-than-expected first-quarter sales, hurt by weak demand at its boutiques.


The drug developer says the FDA agreed to its proposed amendment to late-stage study plan. The company said it would add a second main goal of evaluating the efficacy of its experimental drug, custirsen, in improving survival in men who are at an increased risk when treated with cabazitaxel for prostate cancer.

** CHIMERIX INC, $40.2, -3.50 pct

The drug developer said it would offer $150 million of common stock.

** LAYNE CHRISTENSEN CO, $9.65, +8.06 pct

Analysts at D.A. Davidson and Co raise price target on the stock to $10 from $9 on Tuesday, a day after the company reported a lower-than-expected first-quarter loss.

** WISDOMTREE INVESTMENTS INC, $22.67, +4.86 pct

The asset management company will join S&P MidCap 400 on Thursday, replacing chipmaker Qorvo Inc.


The company is working with advisers to explore a sale after receiving takeover interest, Bloomberg reported. (bloom.bg/1IuYjjF)

** HIMAX TECHNOLOGIES INC, $7.67, +9.89 pct

BofA Merrill Lynch raised its rating on the Taiwanese chipmaker’s stock to “buy”, according to streetinsider.com.

** ABERCROMBIE & FITCH CO, $22.78, +2.61 pct

Christos Angelides, president of Abercrombie & Fitch and Abercrombie kids brands, bought 45,200 shares at $22.16 per share on Tuesday

** ETSY INC, $17.234, +7.78 pct

The company's shares rose for the second straight session after hedge fund Tiger Global Management LLC reported a passive stake of 8.9 pct in Etsy late on Monday (bit.ly/1FJ6RAl)

** RAPTOR PHARMACEUTICAL CORP, $13.93, +4.34 pct

Analysts at Citi Investment Research start covering the stock with a “buy” rating and a price target of $20. Analysts say data from the mid-stage study of Raptor’s drug (Procysbi) to treat patients with Huntington’s disease is encouraging.

** ENERPLUS CORP, $9.51, +5.90 pct

The Canadian oil and gas producer raised its average production forecast for 2015 to 97,000-103,000 barrels of oil equivalent (boe) per day, from 93,000-100,000 boe earlier.


** ECLIPSE RESOURCES CORP, $6.5, +5.01 pct

** PENN WEST PETROLEUM LTD, $1.96, +3.16 pct

U.S.-listed shares of oil and gas producers were up as oil prices rose on Wednesday after U.S. government data confirmed a big weekly drawdown in crude inventories and on signs of easing oil production.

** YUME INC, $4.73, +7.74 pct

The company on Wednesday said it moved into the China digital ad market, opening offices in Shanghai and Beijing.


The tobacco seller’s shares continue to rise after it posted a nearly 20 percent jump in fourth-quarter sales and a 30 percent rise in volume as demand increased in Asia.


The company reported weaker-than-expected first-quarter revenue as it lost most of its clients leading to a decline in sales.


Citigroup cut its rating on the stock to “neutral” from “buy” and cut its price target to $22 from $27.

** GOPRO INC, $57.85, -1.41 pct

Citi analyst Jeremy David wrote in a note that the “odds of GoPro devices going mainstream are getting slimmer”, based on Citi’s action camera survey.

** FIRST SOLAR INC, $50.31, +2.32 pct

** SUNPOWER CORP, $31.418, +4.69 pct

8point3 Energy Partners LP, formed by solar companies First Solar and SunPower, said it expects its initial public offering to be priced between $19 and $21 per share.

Shares of other solar companies also rose on Wednesday.


The company on Tuesday said on a conference call that it sees a $50 billion market opportunity in cyber security in 2015.

** NEWMONT MINING CORP, $23.75, -2.70 pct

The company said it agreed to sell 29 million shares to underwriters.

** SCORPIO BULKERS INC, $1.64, -24.42 pct

The dry bulk shipper said it would sell $200 million of its common stock in a public offering.

** BALLARD POWER SYSTEMS INC, $2.36, +3.96 pct

The Canadian fuel-cell products maker signed a deal with Chinese locomotives maker Tangshan Railway Vehicle Company to develop a new fuel cell module to power trams.

** CYPRESS SEMICONDUCTOR CORP, $13.17, +4.52 pct


Integrated Silicon Solution said it agreed to be acquired by Cypress Semiconductor on Wednesday, days after rejecting the fellow chipmaker’s offer citing antitrust concerns.

** JOHNSON CONTROLS INC, $54.15, +5.02 pct

The auto parts maker said it was exploring strategic options for the separation of its automotive business.


** SANOFI SA, $50.56, +2.29 pct

** ESPERION THERAPEUTICS INC, $82.8999, -17.54 pct

A new type of cholesterol-lowering drug made by Sanofi and Regeneron Pharmaceuticals should be approved, an advisory committee to the U.S. Food and Drug Administration concluded on Tuesday. Most panelists said they would like to see use of the product limited, at least initially, to patients with a genetic predisposition to high cholesterol and those at high risk of cardiovascular disease who are on maximum doses of statin therapy.

Cholesterol drug developer Esperion’s shares were also down.

** OXFORD INDUSTRIES INC, $86.1, +6.28 pct

The apparel retailer forecast current-quarter profit and sales above analysts’ estimates and raised its full-year forecast, citing strong demand for its Lilly Pulitzer and Tommy Bahama clothing lines and store growth.

** CTI BIOPHARMA CORP, $2.075, +5.33 pct

** BAXTER INTERNATIONAL INC, $65.51, +2.23 pct

The drug developer said a license was granted to Baxter on lead blood cancer drug pacritinib being tranferred to planned spinoff Baxalta. CTi BioPharma said it would receive about $32 million in two milestone payments earlier than expected.

** SIGMA DESIGNS INC, $9.9325, +11.10 pct

The company, which makes chips for Internet-based TV set-top boxes, on Tuesday reported first-quarter profit and revenue well above average analyst estimates.

** TRINITY INDUSTRIES INC, $29.69, +1.57 pct

A U.S. judge on Tuesday ordered the company to pay $663.4 million after a federal jury found it liable for failing to tell a government highway agency about changes made to a widely used guardrail system that raised safety concerns.


The investment management company announced an offering 31.5 million shares, representing about 16 percent of outstanding shares as of April 30.

** QUIKSILVER INC, $0.7575, -10.71 pct

D.A. Davidson cuts rating on the stock to “neutral” from “buy” a day after the company reported a bigger-than-expected second-quarter loss and withdrew its full-year forecast.

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