July 9, 2015 / 6:19 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Chinese ADRs, QLogic, Intellipharmaceutics

(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 early afternoon on Thursday as Beijing's efforts to halt a rout in Chinese stocks lifted markets around the world. The Dow Jones industrial average was up 0.42 percent at 17,589.38 and the S&P 500 was up 0.48 percent at 2,056.52.


The drug developer said its lead drug, compared to a placebo, failed in mid-stage trial to show efficacy in treating lung disease patients with history of frequent increase in exacerbations.


The Canadian generic drug maker said late on Wednesday that the U.S. FDA canceled several conditions imposed on tentative approval for Focalin, the company’s generic drug for attention-deficit hyperactivity disorder.

** MILLENNIAL MEDIA INC, $1.9, +31.03 pct

AOL is in the process of acquiring the company for between $300 million and $350 million, TechCrunch reported, citing sources. (tcrn.ch/1S9WbR0)

** QLOGIC CORP, $11.015, -21.21 pct


Network infrastructure product maker QLogic said it expects about $113 million first-quarter net revenue, versus previous forecast of $124 million-$132 million. The weak forecast spills over to closest comparable Brocade.

** RMG NETWORKS HOLDING CORP, $1.0204, +19.91 pct

The digital signage platform provider won a $1.1 million order from a large telecom firm and says it is likely to get future orders of up to $4 million.

** CLEAN ENERGY FUELS CORP, $6.4901, +16.73 pct


** WASTE MANAGEMENT INC, $47.09, +0.60 pct

Clean Energy, which provides natgas to fuel vehicles, said it completed construction of 14 natgas re-fueling stations in first half of 2015 for refuse vehicles - garbage trucks used by waste management companies like Progressive Waste Solutions and Waste Management.

** ALIBABA GROUP HOLDING LTD, $80.13, +2.81 pct

** WEIBO CORP, $15.3488, +14.12 pct


** CHEETAH MOBILE INC, $25.85, +12.39 pct

** AIRMEDIA GROUP INC, $4.7, +26.34 pct

** IDREAMSKY TECHNOLOGY LTD, $11.05, +15.10 pct

** BAIDU INC, $188.58, +2.17 pct

** JA SOLAR HOLDINGS CO LTD, $7.38, +9.99 pct

** TRINA SOLAR LTD, $10.08, +5.88 pct

** JINKOSOLAR HOLDING CO LTD, $24.65, +6.43 pct

** YINGLI GREEN ENERGY HOLD CO LTD, $0.921, -4.02 pct

Chinese companies’ U.S.-listed shares rise as China’s stock market recovers, helped by government support measures.

** PROCTER & GAMBLE CO, $80.595, -0.49 pct

** COTY INC, $29.85, -5.30 pct

Coty has sealed a deal to buy Procter & Gamble’s beauty business, which includes brands such as Clairol and Wella, in a $12.5 billon transaction that will make the perfume maker one of the world’s largest beauty companies.

** YY INC, $60, +2.83 pct

The company said Chairman Jun Lei and Chief Executive David Li offered to take the China-based video streaming website operator private in a deal that values the company at about $3.69 billion.

** E-COMMERCE CHINA DANGDANG INC, $6.91, +6.14 pct

The Chinese online book and media retailer said Chief Executive Guoqing Li and Chairwoman Peggy Yu Yu offered to take the company private.


The drug developer plans to offer shares to fund clinical R&D, but did not disclose the offering’s size or price.

** 3D SYSTEMS CORP, $16.36, -7.15 pct

** STRATASYS LTD, $32.163, -5.49 pct

Piper Jaffray cut price target on 3D Systems to $16 from $18 and Stratasys to $42 from $43.

“We continue to believe 2015 will be a reset year for DDD and others in the 3D printing space, but anticipate growth returning in 2016 once we work off the excess capacity installed during the market hype over the past few years,” analysts wrote.

** ANTHEM INC, $159.56, +0.11 pct

** CIGNA CORP, $157, +4.36 pct

** UNITEDHEALTH GROUP INC, $119.84, +0.89 pct

The health insurers were moving ahead to sign a merger deal as Cigna has backed down over governance issues, CNBC tweeted, citing sources.

Health insurer UnitedHealth Group is also looking to bid for Cigna, CNBC tweeted citing sources.

** WALGREENS BOOTS ALLIANCE INC, $90.15, +4.94 pct

The largest U.S. drug store chain raised its full-year profit forecast as it benefits from higher sales and lower operating costs at its U.S. retail business.

** ALCOA INC, $10.785, +2.71 pct

The metals company reported a quarterly profit that missed expectations due to plunging primary aluminum prices on Wednesday, but revenue topped estimates on an ongoing drive to reduce reliance on the company’s legacy commodity business.

** NOKIA OYJ, $6.475, +2.45 pct

Germany’s big car makers have reached a stand-off with Nokia in their joint bid to buy the Finnish company’s maps business HERE, while rival offers appear to be unravelling, sources familiar with the process said.

** SWIFT ENERGY CO, $1.41, +3.68 pct

** ENERGY XXI LTD, $2.38, +5.78 pct

** COMSTOCK RESOURCES INC, $2.2, +3.29 pct

** HERCULES OFFSHORE INC, $0.222, +16.84 pct

** SEADRILL LTD, $9.86, +4.01 pct

U.S.-listed shares of oil and gas companies rose as supportive economic data from Germany, firmer stock markets and strong gasoline demand lift oil prices.

** WD-40 CO, $82.26, -7.39 pct

The cleaning spray maker cut its full-year profit and sales forecast for the second time this year, citing stronger dollar and lower sales in eastern Europe and Asia-Pacific. (Compiled by Anet Josline Pinto in Bengaluru; Edited by Maju Samuel)

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