September 28, 2016 / 2:22 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Nike, Tempur Sealy, Origin Agritech

(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 rose on Wednesday, helped by higher oil prices and gains in financial stocks ahead of Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. The Dow Jones Industrial Average was up 0.04 percent at 18,235.36, the S&P 500 was down 0.03 percent at 2,159.33 and the Nasdaq Composite was down 0.03 percent at 5,304.355.

** NIKE INC, $54.51, -1.50 pct

At least six brokerages cut their price targets on the sportswear and footwear maker’s stock as future orders missed analysts’ estimates for the third time in a row.


** SELECT COMFORT CORP, $23.57, -6.17 pct

Tempur Sealy said it expected a 1-3 percent fall in full-year revenue from a year earlier, and cut its adjusted EBITDA forecast for the period.

** ORIGIN AGRITECH LTD, $2.76, +18.45 pct

The agricultural biotechnology company said on Tuesday that it would sell its China-based commercial corn seed production and distribution unit for about $60 mln to Beijing Shihui Agricultural Development Co Ltd.

** SAREPTA THERAPEUTICS INC, $61.97, +4.86 pct

RBC raised its price target on the drugmaker’s stock to $108 from $83.

** BLACKBERRY LTD, $8.185, +3.87 pct

The company will outsource manufacturing of its once-core hardware, including its flagship smartphone, the Canadian company said as it reported another loss and sharp drop in revenue.

** AT&T INC, $40.795, -1.60 pct

UBS cut the rating on the wireless carrier’s stock to “neutral”.

** ANAVEX LIFE SCIENCES CORP, $4.46, +42.04 pct

** BIOGEN INC , $313.81, -0.23 pct

Anavex entered into an agreement with Biogen, under which Biogen will test Anavex’s lead experimental drug, Anavex 2-73.

** GALECTIN THERAPEUTICS INC, $1.48, -40.08 pct

The drug developer said the mid-stage clinical trial evaluating the safety and tolerability of its lead drug, GR-MD-02, in 30 nonalcoholic steatohepatitis (NASH) patients with advanced fibrosis did not meet primary and secondary goals.

** ATHERSYS INC, $2.1357, +8.96 pct

The stem cell therapy developer said it had reached an agreement with the US FDA on a late-stage trial design to test its stem cell therapy for the treatment of ischemic stroke.

** HARMONIC INC, $5.595, +20.06 pct

** COMCAST CORP, $66.18, +0.02 pct

The companies entered into a warrant agreement where Comcast will be able to acquire Harmonic’s common shares subject to sales of Harmonic products, including CableOS.

** TOWER SEMICONDUCTOR LTD, $15, -2.22 pct

The U.S.-listed shares of Israeli chipmaker dipped on an unregistered block sale.

** SONIC CORP, $25.73, -6.23 pct

The drive-in restaurant chain operator forecast fourth-quarter profit below analysts’ expectations, hurt by lower-than-expected traffic. (Compiled by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva)

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