(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) The Nasdaq Composite index surpassed on Thursday the 15-year all-time high it set during the peak of the dotcom bubble as more data showed the U.S. economy was gathering steam. The Dow Jones industrial average was up 1.28 percent at 18,165.06 and the S&P 500 was up 1.20 percent at 2,125.72.
** FITBIT INC, $30.06, +50.30 pct
Shares of the maker of popular wearable fitness-tracking devices ran up as much as 60 percent in their debut, valuing the company at up to $6.5 billion.
** PBF ENERGY INC, $30.9, +17.05 pct
The refiner said it would buy the 189,000-barrel-per-day Chalmette oil refinery in Louisiana and related assets from Exxon Mobil Corp and Venezuela’s national oil company, Petroleos de Venezuela SA, for $322 million. PBF said the purchase will increase its total throughput capacity to more than 725,000 barrels per day.
** ORACLE CORP, $42.03, -6.41 pct
At least five brokerages cut their price targets after the business software maker reported fourth-quarter profit and revenue below analysts’ estimates. “Weak Q4 results remind us that the pain from the transition to cloud is likely to stay for several quarters,” Piper Jaffray analysts wrote.
** BANKRATE INC, $11.3, -18.41 pct
SunTrust Robinson cuts rating to “neutral” from “buy” on the personal finance website operator’s stock, citing increased competition from Zillow Group Inc and auto insurers’ unwillingness to embrace Bankrate’s online marketing offering. Suntrust slashes target price to $12 from $18.
** HERCULES OFFSHORE INC, $0.2424, -63.58 pct
The offshore driller expects to file for Chapter 11 bankruptcy within a few weeks. Noteholders owning or controlling more than 67 percent of outstanding senior notes due 2019 also agree to lend $450 million more to complete the construction of newbuild jackup and provide additional liquidity.
Hercules had reduced day rates for customers, slashed jobs and executive pay to rein in costs in response to the nearly 45 percent decline in global crude prices since June last year.
** DIGITAL ALLY INC, $15.0708, +11.14 pct
Brokerage H.C. Wainwright & Co initiate coverage with an “outperform” rating and a $24 price target on the wearable camera maker’s stock. “Global spend on security systems have been increasing steadily ... DGLY is one of the best-positioned players to offer police departments a combined offering of in-car surveillance systems and body worn cameras,” H.C. Wainwright & Co analysts wrote in a note.
** BIOMARIN PHARMACEUTICAL INC >, $140.15, +13.39 pct
At least six brokerages raised their price targets on the stock after the drugmaker said its experimental drug improved growth in children with the most common form of dwarfism in a mid-stage study. William Blair analysts said they believe the drug, BMN 111, is set to become the company’s next blockbuster product.
** PARNELL PHARMACEUTICALS HOLDINGS LTD, $5.05, -6.41 pct
The drug developer’s osteoarthritis drug, zydax, demonstrated significant improvement in mobility in dogs. Zydax is being developed to treat osteoarthritis in dogs and horses.
** GOODRICH PETROLEUM CORP, $1.8, -9.09 pct
SunTrust Robinson Humphrey cut its price target to $4 from $7, saying the oil and gas producer’s shares have sold off heavily in recent days due to false rumors of financial distress. “Investor concern appears to be about solvency and liquidity”, SunTrust analysts said.
** RADIUS HEALTH INC, $59.871, +15.74 pct
Cantor Fitzgerald raised price target on the drug developer’s stock to $71 from $58. Results from extended late-stage study of company’s osteoporosis drug show treatment is effective in reducing fractures in patients. Cantor’s Mara Goldstein says the drug, abaloparatide, has “meaningful” opportunity even if it captures a modest share of the market from Eli Lilly & Co’s Forteo.
** HARLEY-DAVIDSON INC, $59.26, +4.59 pct
UBS upgrades the motorcycle maker to “buy” from “neutral” and raises price target to $63 from $60, citing the company’s additional share buyback. UBS said it expects the buyback to add $0.21 per share to 2016 earnings. Harley’s board on Wednesday authorized the company to repurchase up to 15 million shares, on top of up to 20 million share repurchase authorized in February 2014.
** SYNERGY PHARMACEUTICALS iNC, $8.33, +7.07 pct
The drug developer’s shares continue to rise a day after the company’s constipation drug succeeded in a late-stage study. Cantor Fitzgerald and Canaccord Genuity raise their price targets.
** UNIVAR INC, $24.4, +10.91 pct
Shares of the largest chemical distributor in North America rose 13.54 percent at $24.97 in debut, valuing the company at about $3.45 billion.
** ISLE OF CAPRI CASINOS INC, $18.8, -7.07 pct
The casino operator’s shares fall after unregistered sale by existing holder(s), sources told Reuters. Sources cite Wells Fargo prices a 1.9-million-share block at $19.10, representing a 5.6 percent discount to Wednesday’s $20.23 last sale.
** ANGLOGOLD ASHANTI LTD, $9.63, +4.79 pct
** DRDGOLD LTD, $1.78, +5.95 pct
** COEUR MINING INC, $6.17, +4.05 pct
** FIRST MAJESTIC SILVER CORP, $5.35, +3.28 pct
** ENDEAVOUR SILVER CORP, $2.13, +0.95 pct
Higher prices spur U.S. listed gold and silver miners’ stocks. Gold rises after Federal Reserve indicated that U.S. interest rates may rise more slowly than expected, knocking the dollar. Spot gold up 1.4 pct at $1,201.66 an ounce by 10:00 a.m ET; silver up 1.7 pct at $16.38 an ounce.
** LUMENIS LTD, $13.7, +13.41 pct
The surgical medical lasers provider said it would be acquired by investment firm XIO Group for about $510 million.
** JUNO THERAPEUTICS INC, $52.536, +2.35 pct
Maxim Group initiates coverage on the cell therapy developer’s stock with a ”buy“ rating” and price target of $78. Juno is best equipped for success against solid tumors, analyst Jason McCarthy wrote, referring to the company’s experimental cancer treatments. (Compiled by Yashaswini Swamynathan in Bengaluru; Edited by Maju Samuel)