March 30, 2016 / 5:32 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-DragonWave, ContraVir, Vince Holding, InterOil

(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, U.S. stocks rose on Wednesday, a day after Federal Reserve Chair Janet Yellen's comments eased some concerns about the path of interest rate hikes, but gains were limited by a dip in crude oil prices. The Dow Jones industrial average was up 0.38 percent at 17,699.58, the S&P 500 was up 0.34 percent at 2,061.95.

** DRAGONWAVE INC, $3.4499, +41.39 pct

The company opened online store to streamline ordering and delivery of parts and accessories for maintenance of networks using its microwave radios. DragonWave also said it is partnering with Mitel Networks Corp to develop a 5G network project.


The company priced public offering of up to 4.9 mln common shares and warrants to purchase up to 2.5 mln common shares at combined price of $1.42. The price represents a discount of about 14 pct to Tuesday’s close, until when company had 27.3 mln shares outstanding.

** VINCE HOLDING CORP, $5.96, -11.83 pct

The company expects sales to decrease in the mid- to high-single digit range in the first half of 2016.

** INTEROIL CORP, $33.19, +12.36 pct

The oil and gas producer says it is in talks with lenders to increase and extend credit facility.

** VERINT SYSTEMS INC, $30.9, -12.19 pct

The data analytics company reported lower-than-expected Q4 revenue and profit, hurt by weakness in its security intelligence business.

** LULULEMON ATHLETICA INC, $67.51, +10.24 pct

The Canadian retailer said it expected improved margins and sales to drive its earnings growth this year.

** TALLGRASS ENERGY GP LP, $17.77, +7.57 pct

The company said its unit bought a 25 pct interest in Rockies Express Pipeline LLC from Sempra U.S. Gas & Power LLC, a unit of Sempra Energy, for $440 million.

** WESTERN ALLIANCE BANCORP, $33.8, +9.03 pct

KBW analysts upgrade to “outperform” from “market perform” after GE said it would sell $1.4 bln U.S. hotel franchise loan portfolio to a unit of the bank.

** ACADIA PHARMACEUTICALS INC, $25.96, +9.03 pct

An advisory panel to the U.S. Food and Drug Administration backed an approval for Acadia Pharmaceuticals’ drug for psychosis related to Parkinson’s disease.

** OPKO HEALTH INC, $10.24, -7.50 pct

The drug and diagnostic test maker says late on Tuesday its treatment for secondary hyperparathyroidism in patients with late-stage chronic kidney disease and vitamin D insufficiency was denied approval in U.S.

** SPARK ENERGY INC, $17.89, -6.58 pct

The energy retailer’s stockholder Retailco Llc offered 1.5 mln shares of its Class A common stock, and said it will not receive any proceeds from the offering.

** DEVRY EDUCATION GROUP INC, $17.3, -6.03 pct

Sources say Citigroup priced 4.8 mln shares at $17.05, a 7.4 pct discount to stock’s $18.41 close on Tuesday, identity of seller(s) not known.


The liver disease drug developer says its experimental fatty liver disorder drug showed potent anti-scarring and anti-inflammatory activity in mice.

** SONIC CORP, $34.28, +5.28 pct

The drive-in restaurant chain operator reported Q2 sales and profit above analysts’ estimates on Tuesday, helped by limited-time offers, discounts and lower commodity costs. Two brokerages also raised their PT. (Compiled by Rosmi Shaji in Bengaluru; Edited by Shounak Dasgupta)

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