June 11, 2015 / 6:11 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Axovant, Marathon Patent, HealthSouth

(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 Thursday, helped by strong retail sales data, but gains were limited by news that the International Monetary Fund had broken off debt talks with Greece. The Dow Jones industrial average was up 0.38 percent at 18,068.5, the S&P 500 was up 0.32 percent at 2,111.88 and the Nasdaq Composite was up 0.20 percent at 5,087.012.

** AXOVANT SCIENCES LTD, $28.35, +89.00 pct

The company’s IPO of 21 million shares raised $315 million after it was priced at $15 per share, at the top end of its expected range.

** MARATHON PATENT GROUP, $3.3499, -37.39 pct

The patent licensing company said a jury rejected its client Bridgestone Americas Tire Operations LLC’s claim that Schrader-Bridgeport International Inc had infringed its patents.

** KRISPY KREME DOUGHNUTS INC, $19.54, +12.30 pct

The doughnut chain reported a higher-than-expected first-quarter profit due to higher gross margins and franchise revenue.

** CHINA JO-JO DRUGSTORES INC, $3.74, +14.37 pct

The China-based drugstore chain operator estimates a 90 percent jump in online pharmacy sales for the year ended March 31.

** HEALTHSOUTH CORP, $47.22, +9.08 pct

The company said it would buy a private rehabilitation hospital operator for $730 million in cash to expand its post-acute care business into new markets.

** CRITEO SA, $44.81, -11.58 pct

The company’s shares fell on Thursday on worries over the hit it may take from Apple Inc allowing iPhone users to block ads.

** GLOBAL PARTNERS LP, $37.01, -6.94 pct

The petroleum products company priced its offering of 3 million shares at $38.12 per share. The company’s shares closed at $39.77 on Wednesday.

The offering represents nearly 10 percent of total outstanding shares as of May 4.

** MEN’S WEARHOUSE INC, $61.87, +5.71 pct

The men’s apparel retailer reported a second-straight quarter of better-than-expected profit and sales, helped by strong demand for its Men’s Wearhouse line of clothing and higher pricing.


Roth Capital Partners started coverage of the stock with a “buy” rating and price target of $16. Roth analyst Elemer Piros writes that PlasmaTech has “one of the most comprehensive preclinical packages in the field of gene therapy”.

The drug developer bought on Monday rights from the University of Nebraska Medical Center to a new gene therapy to treat rare diseases.

** CITRIX SYSTEMS INC, $70.42, +6.75 pct

Activist investor Elliot Management Corp said software maker Citrix Systems should sell some units, cut costs and buy back shares.

** HESS CORP, $68.85, +4.89 pct

The oil and natural gas producer said it would sell half of its Bakken midstream assets to private equity firm Global Infrastructure Partners for $2.68 billion to form a master limited partnership.

** IGNYTA INC, $17.23, -6.46 pct

The drug developer priced its offering of 4.3 million shares of its common stock at $17.50 per share. The price is at a discount of 5 percent to the stock’s Wednesday’s close.

** BILL BARRETT CORP, $8.67, -6.27 pct

The company on Wednesday unveiled a $100 million “at the market” stock offer program. Under an at the market raise, the company will incrementally sell shares directly into secondary market over time at prevailing prices versus a traditional underwritten offering.

** SCORPIO BULKERS INC, $1.565, -2.19 pct

The dry bulk shipper’s offering of 133 million shares were priced at $1.50 per share on Wednesday, a discount of 6.3 percent to the stock’s Wednesday’s close.

The offering represents 73.7 percent of total outstanding shares as of April 6, according to Thomson Reuters data.

** ENERPLUS CORP, $9.89, +2.17 pct

Analysts at TD Securities raised rating on the Toronto-listed stock to “buy” from “hold” a day after the company raised its 2015 output forecast.


** GOODRICH PETROLEUM CORP, $2.53, -3.07 pct


** SANCHEZ ENERGY CORP, $10.02, -4.30 pct

** CHESAPEAKE ENERGY CORP, $12.58, -3.68 pct

Shares of oil and gas companies were down as oil prices continued to fall on Thursday due to the stronger dollar and a gloomy economic forecast by the World Bank.

Oppenheimer cut its rating on Chesapeake to “perform” from “outperform” and Susquehanna cut its price target to $15 from $18.

** YAMANA GOLD INC, $3.265, -4.53 pct

** ELDORADO GOLD CORP, $4.35, -4.19 pct

** ANGLOGOLD ASHANTI LTD, $9, -4.76 pct

U.S.-listed shares of gold miners fell on Thursday as gold prices fell, snapping three days of gains, as global stocks rallied and the dollar extended gains after strong U.S. economic data.

** COMMSCOPE HOLDING CO INC, $31.06, -4.18 pct

The network gear maker announced an offering of 20 million shares by an affiliate of the Carlyle Group.

The offering represents 10.6 percent of CommScope’s total outstanding shares, according to Thomson Reuters data.


** CYPRESS SEMICONDUCTOR CORP, $13.025, -0.88 pct

Chipmaker Integrated Silicon Solution said on Thursday it agreed to merge with Uphill Investment Co in a deal valued at about $667 million, a day after it agreed to be bought by Cypress Semiconductor.

** AGENUS INC, $9.41, +5.49 pct

Oppenheimer & Co started coverage of the stock with an “outperform” rating and a price target of $14.

We believe Agenus’ immunotherapy platform represents a unique toolkit from which combination treatments for cancer could be rapidly developed and these will provide a competitive advantage in bringing therapeutics to market, analysts wrote.

** AMGEN INC, $158.835, +2.11 pct

An advisory panel to the U.S. Food and Drug Administration recommended approval of Amgen’s cholesterol-lowering drug Repatha on Wednesday, but said it should be used only in patients at high risk of cardiovascular disease.

** TUBEMOGUL INC, $15.36, -6.97 pct

The advertising software maker announced a pubic offering of 5.3 million shares priced at $15.75 per shares

** FEDEX CORP, $185.15, +1.55 pct

Citigroup adds the stock to its focus list and other brokerages raise the price target. “FedEx’s aircraft retirements should “provide significant operating leverage and push more IE (international economy) volume onto third party aircraft, boosting profitability,” Citigroup analysts write.

** ISIS PHARMACEUTICALS INC, $67.82, +1.83 pct

The drug developer said the experimental treatment, ISIS-SMNRx, for spinal muscular dystrophy continued to improve muscle function and event-free survival in infants.

** BOX INC, $18.301, +2.87 pct

The cloud storage provider raised its full-year forecast as more customers subscribed to its content-sharing platform.

** ATOSSA GENETICS INC, $1.32, +0.76 pct

The medical test maker said the U.S. PTO granted a patent on methods to detect risk of developing breast cancer using absorbent paper.

** ARCA BIOPHARMA INC, $0.88, +5.96 pct

The drug developer inked a deal with investors for the private placement of about 42 million units at 88 cents per unit. The offering was at a premium of 6 percent to the stock’s Wednesday’s close. (Compiled By Manya Venkatesh in Bengaluru; Edited by Don Sebastian)

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