(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) Wall Street was slightly higher on Friday as a raft of positive data pointed to a bullish signal for third-quarter economic growth.
The Dow Jones industrial average was up 0.20 percent at 17,443.76, the S&P 500 was up 0.15 percent at 2,086.55 and the Nasdaq Composite was unchanged at 5,033.571.
** EL POLLO LOCO HOLDINGS INC, $15.1, -17.76 pct
The restaurant chain operator’s quarterly comparable sales fell short of analysts’ estimates as the number of diners visiting its outlets fell for the first time since the company went public last year.
** KING DIGITAL ENTERTAINMENT PLC, $13.81, -9.14 pct
The company said second-quarter gross bookings fell 13 percent and forecast a further drop in the current quarter as its flagship Candy Crush Saga matures and game launches are delayed.
** TESLA MOTORS INC, $245.09, +1.06 pct
The electric car maker said it was looking to raise about $642.5 million through a share sale, above the $500 million it announced on Thursday.
** BARRICK GOLD CORP, $7.96, +2.45 pct
** ELDORADO GOLD CORP, $4.09, +7.35 pct
** HARMONY GOLD MINING CO LTD, $1.02, +4.08 pct
Gold edged up as dollar softened and investors weighed impact of China’s currency intervention on timing for first U.S. interest rate increase in nearly a decade
** LATAM AIRLINES GROUP SA, $5.28, -7.21 pct
The Chile-based airline holding company cut its operating margin forecast to 3.5-5 percent from 6-8 percent and said it is reviewing its fleet plan. The company’s second-quarter revenue fell 21 percent, hurt by weak demand in its key Brazilian market and currency devaluation.
** APPLE INC, $115.36, +0.18 pct
The company will delay its live TV service to at least next year, Bloomberg reported. Discussions with broadcasters to license programming are progressing slowly and lack of content has led Apple to scrap plans to announce the service at a Sept. 9 event, Bloomberg said.
** PRIMA BIOMED LTD, $1.48, +48 pct
The biotechnology firm said it will get an undisclosed clinical milestone payment from Novartis AG. The payment is related to an antibody being trialled for cancer treatment.
** ONCONOVA THERAPEUTICS INC, $2.95, +49 pct
The biopharmaceutical company, which focuses on cancer treatments, said it submitted an investigational new drug (IND) application to the FDA for IV rigosertib, and, upon acceptance, plans to start a pivotal late-stage trial.
** PERRIGO CO, $190.73, -0.92 pct
** MYLAN NV, $54.385, +0.30 pct
ISS Proxy Advisory Services on Friday recommended that its institutional investor clients vote against Mylan’s $34 billion hostile takeover offer of Perrigo, saying that it would result in significant dilution. The recommendation veered in the opposite direction from two other proxy advisory firms which earlier this week advised clients to vote for the deal.
** DUPONT, $53.91, +1.66 pct
JP Morgan raised its rating on the chemical and crop company’s stock to “overweight” and its price target to $60.
** CHRISTOPHER & BANKS CORP, $1.68, -48.15 pct
The women’s apparel retailer said it expects second-quarter sales to decline more than it had earlier forecast, citing weak sales in late June and in July due to weak mall traffic, reduced levels of clearance merchandise and a more aggressive promotional environment. The retailer forecast gross margins would fall due to the weak sales.
** CHINA DIGITAL TV HOLDING CO LTD, $3.31, -5.97 pct
The Chinese TV smart card maker posted a second-quarter loss from operations, compared with a year-ago profit, as sales of its smart cards slumped nearly 41 percent due to the market decline of the mature CAS business. Lower sales of smart cards also weighed on gross margins.
** AVALANCHE BIOTECHNOLOGIES INC, $10.1586, -26.55 pct
The drug developer said that it will not start a second mid-stage study of its eye drug, which showed only a modest improvement in vision in the first study. Avalanche said it is stepping back from clinical trials and has planned to conduct additional preclinical studies of the drug. At three brokerages have cut their price target on the stock.
** ONCOGENEX PHARMACEUTICALS INC, $3.0001, -5.66 pct
The drug developer posted a bigger second-quarter loss as revenue fell more than 18 percent.
** APPLIED MATERIALS INC, $16.37, -3.99 pct
The No. 1 maker of machinery used to make semiconductors posted quarterly profit and revenue below market estimates due to weak demand from foundry customers.
At least seven brokerages cut their rating on the stock, and activist investor Jana Partners dissolved its sole share stake in Applied Materials.
** J.C. PENNEY CO INC, $8.69, +7.68 pct
The department store operator reported a 2.7 pct rise in quarterly revenue, helped by higher sales in the home and fine jewelry categories and at the Sephora departments in its stores.
** NORDSTROM INC, $79.67, +6.34 pct
The upscale department store chain’s quarterly profit, revenue and same-store sales beat analysts’ estimates, helped by higher sales to loyalty program members, strong demand for cosmetics and women’s apparel and growth in its off-price business.
** WUXI PHARMATECH CAYMAN INC, $43.52, +5.32 pct
The drug research company agreed to a go-private offer from consortium led by founder-chairman Ge Li for $46 per American Depositary Share. The consortium made their first offer in April at the same price.
** KEMPHARM INC, $19.965, +17.17 pct
The drug developer announced positive data from a study to test abuse liability of its lead experimental painkiller.
** CAPNIA INC, $2.66, -15.61 pct
The medical diagnostics company filed for a sale of up to 3.2 million shares by Aspire Capital Fund and other stockholders.
** CYBERARK SOFTWARE LTD, $59.26, +2.07 pct
Wells Fargo raised its rating on the Israel-based cyber software maker’s stock to “outperform” from “market perform”.
** KINDER MORGAN INC, $33.98, +2.53 pct
Goldman Sachs added the U.S. pipeline operator’s stock to its conviction list and rated the stock as “buy”.
** SHAKE SHACK INC, $57.25, +5.07 pct
Options contracts on shares of the U.S. burger chain started trading on Friday for the first time since the company’s IPO in January. Shake Shack’s shares have been quite volatile since their debut and the should help boost demand for its options, strategists said. (Compiled by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)