June 26, 2015 / 2:51 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Micron Tech, Magnum Hunter, China stocks

(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 rose slightly on Friday as investors were encouraged by signals of a possible deal between Greece and its creditors that could help the country avert a debt default. The Dow Jones industrial average was up 0.50 percent at 17,979.68, the S&P 500 was up 0.09 percent at 2,104.27 and the Nasdaq Composite was down 0.30 percent at 5,097.1.

** NIKE INC, $109.51, +4.08 pct

The world’s largest footwear maker reported a better-than-expected profit for the eighth quarter in a row as it sold more high-margin shoes and apparel at higher prices, and posted a surprise rise in growth of “futures orders”.

At least 11 brokerages raised price targets after the company also raised its full-year currency-neutral sales forecast.

** CELLADON CORP, $1.29, -41.36 pct

The drug developer said it would suspend further development of its gene-therapy drug for heart failure, months after the treatment failed a mid-stage trial.

** MICRON TECHNOLOGY INC, $19.63, -18.28 pct

The chipmaker said it expects a further decline in prices of chips used in personal computers, and forecast revenue for the current quarter well below market estimates.

At least 13 brokerages cut price targets on Friday; Morgan Stanley cuts to $19, the lowest; Sanford C. Bernstein cuts by $17, the steepest.


Brokerage BB&T Capital Markets raised its rating to “buy” from “hold”, encouraged by the introduction of the company’s new furniture collection, RH Modern, which will have its own website and a 15,000-sq-ft store in Los Angeles, besides dedicated floors at existing stores, analyst Anthony Chukumba wrote in a note.


The oil and gas producer said on Thursday it was looking to sell its stake in pipeline unit, raising $600 million-$700 million.

** YOUKU TUDOU INC, $25.7, -6.17 pct

** YY INC, $69.81, -6.18 pct

** E COMMERCE CHINA DANGDANG INC, $9.51, -6.58 pct

** 500.COM LTD, $24.9, -7.98 pct

U.S.-listed Chinese stocks fell after Chinese stocks plunged over 7 pct, hit by tight liquidity conditions ahead of the quarter-end and uncertainty over the central bank’s easing policy.

Morgan Stanley sees Shanghai’s benchmark index falling 2-30 pct over next 12 months due to heavy equity issuance, weak corporate reports, high valuations, excessive margin financing.

** GIGAMEDIA LTD, $0.8751, +2.35 pct

The online games and cloud computing services provider said it bought a 70 percent stake in cosmetics e-commerce company Strawberry Cosmetics Holding Ltd for $93 million.

** FINISH LINE INC, $28.14, +4.22 pct

The athletic shoes and apparel retailer reported first-quarter profit and sales above analysts’ estimates, helped by a 5.5 pct rise in same-store sales.

** JD.COM INC, $33.31, -2.09 pct

China’s No. 2 e-commerce firm is launching a Chinese consumer credit data system as a joint venture with U.S. credit-scoring technology company ZestFinance, taking on a rival service linked to the larger Alibaba Group Holding Ltd.

** UNITEDHEALTH GROUP, $123.68, +1.10 pct

** CENTENE CORP, $81.44, -0.05 pct

** HCA HOLDINGS, $92.36, +1.81 pct

** TENET HEALTHCARE CORP, $58.1, +3.36 pct

U.S. hospital shares surged on Thursday, with several hitting all-time highs, and other healthcare names rallied on after the U.S. Supreme Court upheld tax subsidies key to President Barack Obama’s signature healthcare law. Wall Street analysts called the ruling positive for an industry on the edge of consolidation.

BREAKINGVIEWS-Supreme Court tells Obamacare opponents to move on


German potash producer K+S said on Thursday it had received a takeover proposal from larger Canadian fertilizer producer Potash Corp of Saskatchewan Inc, potentially marking the start of a new takeover saga in the industry.

** CHARTER COMMUNICATIONS INC, $169.985, +1.28 pct

The cable company formally argued for regulatory approval for its Time Warner Cable Inc and Bright House Networks deals, saying consumers would benefit as Internet services would become cheaper and faster. (Compiled By Anya George Tharakan in Bengaluru; Editing by Simon Jennings)

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