June 30, 2015 / 5:44 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Steel stocks, Casino stocks, Shopify

(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 gave up most of their gains in afternoon trading on Tuesday as investors remained on the edge, hoping for a last-minute deal to keep Greece in the euro. The Dow Jones industrial average was up 0.36 percent at 17,660.31, the S&P 500 was up 0.44 percent at 2,066.78 and the Nasdaq Composite was up 0.69 percent at 4,992.879.

** JUNO THERAPEUTICS INC, $56.06, +21.08 pct

** KITE PHARMA, $61.34, +4.04 pct

** ZIOPHARM ONCOLOGY INC, $12.14, +5.20 pct

** CELYAD SA, $51.75, +2.76 pct

** CELLECTIS SA, $36, +8.24 pct

** BLUEBIRD BIO INC, $168.215, +5.62 pct


Shares of CAR-T cell therapy developers rose after Juno’s 10-year agreement with Celgene.

Celgene, on Monday, launched a 10-year partnership with Juno Therapeutics, announcing a $1 billion investment aimed at bringing to market Juno technologies that harness the immune system to treat cancer and autoimmune diseases.

** WILLIS GROUP HOLDINGS, $47.3, +4.19 pct

** TOWERS WATSON & CO, Tuesday close $137.98, -4.50 pct premarket

Willis Group Holdings, the world’s oldest insurance broker, will merge with human resources consultancy Towers Watson to form a company valued at about $18 billion.

** PENTAIR PLC, $68.92, +6.97 pct

Nelson Peltz’s Trian Fund Management LP has built a stake of 7.24 percent in Pentair and asked the pump and valve maker to consider acquiring rivals to consolidate the sector, the Wall Street Journal reported, citing people familiar with the matter.

** SIGNAL GENETICS INC, $2.34, +58.11 pct

The molecular diagnostics company said it signed a deal with a “leading pharmaceutical company” under which Signal’s genetic test will be used in myeloma clinical trials.

** APOLLO EDUCATION GROUP INC, $13.03, -16.15 pct

** STRAYER EDUCATION INC, $42.86, -2.21 pct

** DEVRY EDUCATION GROUP INC, $29.97, -1.02 pct

Apollo’s third-quarter revenue lagged expectations, with new enrollments sliding 13 percent at its flagship University of Phoenix.

** SOUFUN HOLDINGS LTD, $8.37, +2.95 pct


** ALIBABA GROUP HOLDING LTD, $82.35, +1.58 pct

China’s mainland indices, which lost more than a fifth of their value in a fortnight as margin trades were unwound, ended the day sharply higher as government bodies and regulators stepped up efforts to prop up the market.

** POPULAR INC, $28.49, -3.75 pct

** FIRST BANCORP, $4.87, -12.88 pct

Shares of banks exposed to Puerto Rico fell for the second consecutive day.

Standard & Poor’s Ratings Services lowered its credit rating on Puerto Rico to ‘CCC-minus’ from ‘CCC-plus’, hours after Governor Alejandro Garcia Padilla said the U.S. territory needs a period of bankruptcy to restructure its debt.

** ENTEROMEDICS INC, $0.6236, -35.71 pct

The medical device maker’s offering of 40.2 million units was priced at 87 cents per unit. Each unit consists of one share, half a series A warrant for one share and half of a Series B warrant for one share.


BofA Merrill raised its rating on the drug developer’s stock to “buy”, according to Theflyonthewall.com.

** SCHNITZER STEEL INDUSTRIES, $17.495, -9.21 pct

** UNITED STATES STEEL CORP, $20.61, -1.39 pct

** AK STEEL HOLDING CORP, $3.89, -1.02 pct

Shares of steel companies fell after Schnitzer Steel reported a third-quarter loss and lower-than-expected sales.

** MELCO CROWN ENTERTAINMENT, $19.15, +6.98 pct

** LAS VEGAS SANDS, $52.44, +4.59 pct

** WYNN RESORTS LTD, $98.61, +4.98 pct

** MGM RESORTS INTERNATIONAL, $18.31, +4.15 pct

Casino operators’ stocks posted strong gains as the beaten down sector finally saw some encouraging news from Macau. According to Bernstein, Macau is set to relax visa rules for mainland Chinese tourists starting July 1, a year after tighter restrictions were put in place.

** SHOPIFY INC, $33.8, +7.92 pct

At least five brokerages started coverage of the company’s stock. Credit Suisse started with an “outperform” rating and $40 price target. Credit Suisse analysts said they believe Shopify can capture market share due to strong merchant growth, increased attach rates of Shopify Payments and new merchant solutions.

** DAVIDSTEA INC, $21.27, -5.38 pct

Four brokerages initiated coverage on the stock with a “neutral” or equivalent rating, William Blair started coverage with an “outperform” rating. BMO Capital Markets started with a price target of $21, below Monday’s close of $22.48, saying the company was already trading higher than other “early-stage, high-growth companies” and above rivals like Teavana.

** ABERCROMBIE & FITCH CO, $21.56, -2.62 pct

FBR Capital Markets cut its rating on the teen apparel retailer’s stock to “market perform” from “outperform”. A turnaround at the Abercrombie & Fitch brand could take a long time, analyst Susan Anderson said.

** CONAGRA FOODS INC, $43.81, +0.88 pct

The maker of Slim Jim beef jerky and Chef Boyardee pasta said it planned to exit its struggling private label foods business, which has suffered falling sales since it was bought two years ago.

** TREEHOUSE FOODS, $80.02, +7.93 pct

** POST HOLDINGS INC, $54.35, +4.64 pct

KeyBanc Capital Markets analyst said the two companies could likely buy ConAgra’s private label business.

** REAL GOODS SOLAR INC, $2.4499, -7.90 pct

The solar company said on Monday that it received a subpoena from the U.S. SEC for documents related to an investigation into its private placement last year.

** ONE HORIZON GROUP INC, $3.1499, +5.70 pct

The company said its Aishuo app is now further optimized for use in Xiaomi’s smartphones.

** ALDER BIOPHARMACEUTICALS INC, $52.7296, +12.33 pct

The drug developer is presenting data on its experimental migraine drug at a conference on Tuesday.

** SONY CORP, $28.78, -5.20 pct

Japan’s Sony plans to raise nearly $4 billion via new shares and bonds to plough into image sensors as it reinvents itself as a niche component maker, pulling back from consumer goods like TVs that dragged it into losses.

** DAQO NEW ENERGY CORP, $23.58, +5.27 pct

The China-based polysilicon maker announced the start of a pilot production of newly added 6,000 MT polysilicon capacity in Xinjiang and named Ming Yang as CFO. It said Shihua Su would continue as acting CFO until Yang’s appointment.

The company also said it has ceased operation of original hydrogenation and switched to a new hydrochlorination system, saving power

** TECK RESOURCES LTD, $9.97, -3.86 pct

Moody’s Investors Service cut its outlook on the Canadian miner to ‘negative’ from ‘stable’, saying the company’s financial leverage was likely to remain elevated for longer than expected.

** PIERIS PHARMACEUTICALS INC, $2.64, -19.02 pct

The German drug developer’s offering of 9 million shares was priced at $2.75 per share, a 15 percent discount to the stock’s Monday close.

** PEP BOYS-MANNY MOE AND JACK, $12.41, +2.06 pct

The auto parts retailer said it was considering putting itself up for sale, as it embarks on a strategic review barely two weeks after it named a new chief executive.

** FITBIT INC, $36.68, +10.22 pct

RBC Capital Markets started coverage of the company’s stock with an “outperform” rating and a price target of $45.

“A deeper international push, combined with corporate wellness adoption will help Fitbit grow revenues rapidly in the next few years,” RBC analysts wrote in a note. (Compiled By Manya Venkatesh in Bengaluru; Editing by Simon Jennings)

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