December 4, 2015 / 3:06 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Fuelcell, Cooper Cos, Ulta Salon, Avon

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, Wall Street opened higher on Friday after stronger-than-expected U.S. jobs data built the case for the Federal Reserve to raise interest rates this month for the first time in nearly a decade. The Dow Jones industrial average was up 0.95 percent at 17,644.33, the S&P 500 was up 0.79 percent at 2,065.88 and the Nasdaq Composite was up 0.82 percent at 5,078.585.


The biopharmaceutical company, which recently appointed controversial head of Turing Pharmaceuticals Martin Shkreli as CEO, said it was acquiring worldwide rights to a compound being developed for the treatment of Chagas disease.

** AVON PRODUCTS INC, $4.38, +9.77 pct

Private equity investors led by Barington Capital have proposed a restructuring of the company, saying the cosmetics maker is “significantly undervalued” and warning against the sale of its North American arm to Cerberus Capital Management.

** FUELCELL ENERGY INC, $7.822, -20.12 pct

The fuel cell maker announced a 1-for-12 reverse stock split, effective Friday, which will reduce the number of authorized shares of common stock to 39.6 million from 475 million.

** FIVE BELOW INC, $30.02, +7.56 pct

Deutsche Bank raised its price target on the teen apparel retailer’s stock to $31 from $30 and RBC Capital Markets to $42 from $40 after company reported better-than-expected third-quarter profit and sales.

** GAP INC, $25.64, -1.80 pct

** ZUMIEZ INC, $13.07, -5.97 pct

The sports apparel and accessories makers reported larger-than-expected drop in November same-store sales, hurt by weaker consumer traffic and foreign exchange impact.

** NORFOLK SOUTHERN CORP, $87.05, -6.51 pct

The U.S. railroad operator said its board unanimously rejected Canadian Pacific Railway Ltd’s $28.4 billion acquisition proposal, saying the offer undervalued the company and could face regulatory hurdles.

** BARNES & NOBLE INC, $9.66, -19.83 pct

The largest U.S. bookstore chain reported a surprise fall in quarterly comparable store sales, hurt by store closures, lower online sales and weak demand for its Nook tablets.

** COOPER COMPANIES INC, $129.06, -9.14 pct

The medical device maker lowered full-year 2016 and first quarter outlook below Street view after it earned $2/share in fourth-quarter on revenue of $455.5 million, compared with Street estimates of earnings per share of $2.11 and revenue of $474.3 million.


The drug developer raised its offering size to 3.1 million shares from 2.6 million. Shares priced at $48 per unit, compared with Thursday’s close of $49.38.


The beauty salon operator reported better-than-expected third-quarter same-store sales, helped by increased traffic and transactions growth.

** JPMORGAN CHASE & CO, $66.7, +1.37 pct

A federal appeals court said JPMorgan Chief Executive Jamie Dimon and other bank officials need not face a shareholder lawsuit claiming they did a bad job investigating the 2012 “London Whale” trading scandal that caused $6.2 billion of losses.


The drugmaker is in the process of divesting about $1 billion worth of assets to address antitrust concerns over its deal to buy Allergan Plc’s generic drugs business, people familiar with the matter said.

Compiled by Manish Parashar in Bengaluru; Editing by Sriraj Kalluvila

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