January 14, 2016 / 6:18 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Alon Blue, LendingTree, Freeport-McMoRan

(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 rallied strongly on Thursday, with the S&P 500 crossing a key technical level, as a rebound in oil prices boosted energy companies. The Dow Jones industrial average was up 1.52 percent at 16,396.93, the S&P 500 was up 1.59 percent at 1,920.3 and the Nasdaq Composite was up 1.72 percent at 4,603.991.

** JPMORGAN CHASE & CO, $58.98, +2.86 pct

The biggest U.S. bank by assets reported a better-than-expected quarterly profit for the final quarter of the year as a tight lid on expenses and a smaller legal bill made up for sluggish revenue growth.

** MARRIOTT INTERNATIONAL INC, $60.43, +0.27 pct

** EXTENDED STAY AMERICA INC, $13.59, -1.74 pct

** HYATT HOTELS CORP, $38.95, -2.36 pct

** BELMOND LTD, $7.94, -3.76 pct

** MORGANS HOTEL GROUP CO, $2, -16.32 pct



U.S. hotel operators’ shares fell after MKM Partners downgraded the lodging sector on “a more cautious outlook for the economy”. MKM analyst Christopher Agnew said U.S. average daily rate (ADR) growth has peaked and is now decelerating, “and with demand weakening, we see little likelihood of re-acceleration.”

** ALON BLUE SQUARE ISRAEL LTD, $4.67, +125.60 pct

The Israeli retailer said it received a joint offer from two Israeli companies to buy 53.8 percent outstanding shares of unit Blue Square Real Estate Ltd. The offer by Big Shopping Centers Ltd and Mega Or Holdings Ltd valued Blue Square at 1.65 bln shekels ($418 mln), the company said.

** LENDINGTREE INC, $66.86, +9.36 pct

The online lender said it would repurchase about $50 million of stock under an existing program. The company had market value of about $705 million as of Wednesday close.

** FREEPORT MCMORAN INC, $4.1, +9.63 pct

The diversified miner and energy producer’s Indonesian unit submitted divestment price to government for additional stake in one of world’s biggest copper mines, an energy ministry official said. Freeport Indonesia must sell Indonesian government 10.64 percent stake of Grasberg copper and gold complex in remote Papua as part of process to extend its right to operate beyond 2021.

** CHIPOTLE MEXICAN GRILL INC, $460.18, +7.45 pct

CLSA raised rating on the burrito chain operator to “buy”, while Cowen and Co raised its price target to $425 from $415. The company’s executives said on Wednesday they were confident that steps being taken to tighten food safety would prevent future food poisoning outbreaks.

** HANSEN MEDICAL INC, $1.45, -25.06 pct

The medical robotics maker said it was looking at strategic alternatives, including potential sale of the company or its assets. The company set up a special panel of independent directors to review alternatives.


The generic drug maker said its experimental painkiller, Rexista Oxycodone XR, had similar effect on patients as Purdue Pharma’s existing drug Oxycontin, both of which share same active ingredient.

** TUESDAY MORNING CORP, $5.77, +9.90 pct

The off-price retailer’s CEO, Steven Becker, raised his stake in the company to 2.6 percent from 0.2 percent. Becker bought 1.05 million shares for $5.4 million in three trades this week, according to a regulatory filing on Wednesday.

** GOPRO INC, $12.22, -16.36 pct

The wearable cameras maker estimated fourth-quarter revenue below market expectations due to disappointing sales of its action cameras, and said it would cut 7 percent of its workforce.

** BEST BUY CO INC, $26.6, -9.09 pct

The largest U.S. consumer electronics retailer said it expected its U.S. sales to fall by about 1.5 percent in the current quarter due to weak demand for mobile devices, scanners and printers in the holiday season.

** YELP INC, $21.26, -3.67 pct

B. Riley & Co cut its rating on the consumer review website operator’s stock to “sell” from “neutral”.

** WEBMD HEALTH CORP, $49.31, -7.33 pct

The healthcare portal said it was not negotiating a sale of all or part of its business, a day after the Financial Times reported about talks over a potential deal.


The automaker’s shares fell after the owner of two Chicago-area dealerships filed a lawsuit accusing the company of inflating sales, adding to the legal woes hitting the sector.

** INFOSYS LTD, $17.97, +9.17 pct

India’s second-largest software services exporter raised its annual revenue growth forecast due to stronger demand for high-margin automation and other services.

** RIO TINTO PLC, $25.11, +5.46 pct

The world’s second largest miner is going to freeze all pay in 2016, ramping up its cost-cutting effort to weather what it expects to be a prolonged commodities slump, according to a memo from Chief Executive Sam Walsh. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Maju Samuel)

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