(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter link.reuters.com/nex49s) U.S. stocks rose at the open on Thursday in the wake of upbeat job market data, with investors still focused on the possible economic impact of an ongoing impasse in budget negotiations in Washington. The Dow Jones industrial average was up 0.26 percent, the S&P 500 was up 0.25 percent and the Nasdaq Composite was up 0.39 percent.
** J.C. PENNEY CO INC, $10.02, down 3 pct (09:36 a.m. ET)
The struggling retailer’s shares fell amid concerns the company may not be able to boost its cash reserves ahead of the crucial holiday season. The company is looking to raise up to $1 billion in new equity, Reuters reported on Wednesday.
J.C. Penney shares fell as much as 8 percent in premarket trading on Thursday but reversed course after the company said it still expected positive comparable-store sales trends coming out of the third quarter and throughout the fourth.
** HERTZ GLOBAL HOLDINGS INC, $22.39, down 11 pct (09:31 a.m. ET)
** AVIS BUDGET, $29.04, down 3.5 pct
No.2 U.S. car rental company Hertz cut its full-year revenue forecast due to weaker-than-expected airport car rental volumes in the United States, the company’s biggest business.
Shares of rival Avis Budget also fell on the news.
** WESTPORT INNOVATIONS INC, $24.98, down 8 pct (09:33 a.m. ET)
The developer of natural gas-powered truck engines offered to sell 6 million shares in the United States and Canada. The offering was priced at $25.39 per share, a 7 percent discount to its Wednesday close.
** FLOW INTERNATIONAL CORP, $3.98, up 7 pct (9:43 a.m. ET)
The maker of industrial water-jet machines said it will be acquired by private equity firm American Industrial Partners for $4.05 per share in cash in a transaction valued in excess of $200 million.
** FACEBOOK INC, $49.68, up 0.5 pct (9:50 a.m. ET)
Shares of the social network breached $50 on Thursday after Jefferies Equities Research raised its price target on the stock to $60. Bernstein Research raised its target to $40.
** CAESARS ENTERTAINMENT CORP, $19.85, down 5 pct (9:42 a.m. ET)
The casino operator announced the commmencement of a secondary public offering of 10 million shares. The company had about 126.3 million shares outstanding as of Aug. 1.
** ELI LILLY AND CO, $51.55, down 2 pct (09:31 a.m. ET)
The company said its experimental breast cancer drug failed to improve patients’ survival without their cancer worsening in a late-stage trial, dashing investors’ hopes on one of the company’s most talked-about drugs.
** BED BATH AND BEYOND INC, $78.18, up 5 pct (09:32 a.m. ET)
The home furnishing retailer reported an 18 percent jump in second-quarter profit as the U.S. housing market recovery spurs demand for the home goods chain’s products.
** JABIL CIRCUIT INC, $23.02, down 4 pct (9:41 a.m. ET)
The contract electronics maker said on Wednesday it could cut ties with its second-largest customer BlackBerry Ltd , which could shave off 28 cents to 34 cents from its core earnings per share in 2014. “We are faced with a strong possibility of disengaging with BlackBerry,” Jabil’s Chief Executive Mark Mondello said in a post-earnings conference call with analysts on Wednesday.
The company’s current-quarter revenue forecast missed anlaysts’ estimates as it expects to lose business from BlackBerry.
** HB FULLER CO, $43.81, up 8 pct (9:41 a.m. ET)
The chemical company on Wednesday reported a higher-than-expected third-quarter profit as it cut down expenses. The company also raised the low end of its full-year earnings forecast to $2.60 from $2.55 per share.
** JPMORGAN CHASE & CO, $52.03, up 1.5 pct (09:45 a.m. ET)
The bank is in talks with government officials to settle federal and state mortgage probes for $11 billion, two people familiar with the matter said on Wednesday.
** GENWORTH FINANCIAL INC, $12.81, up 2 pct (09:45 a.m. ET)
The life and mortgage insurer said it has begun filing for premium rate increases on certain long-term care policies sold between 2003 and 2012. The premium rate increases requested will range between 6 and 13 percent on more than $800 million in annualized in-force premiums, the company said on Wednesday.
** EBAY INC, $55.37, up 2 pct (9:40 a.m. ET)
EBay said it would buy payment gateway Braintree for about $800 million in cash to add to its PayPal business.
** AIR PRODUCTS & CHEMICALS INC, $111.05, up 3.6 pct (9:40 a.m. ET)
The industrial gas producer feeling the heat from activist investor Bill Ackman, said Chief Executive John McGlade would retire in 2014.
** RUE21 INC, $39.8, down 2 pct (09:32 a.m. ET)
The teen apparel retailer said the weak sales pattern seen in August is continuing in September, with comparable store sales down 9.5 percent through Sept. 24. (link.reuters.com/wyp43v)
** CABOT OIL & GAS CORP, Wednesday close $35.57, up 3 pct (09.48 a.m. ET)
The Houston, Texas-based company said it expects production to grow by 30 to 50 percent in 2014.
** ARES CAPITAL CORP, $17.12, down 2.5 pct (9:37 a.m. ET)
The investment company commenced public offering of 11 million shares. Underwriters also have an option to purchase up to an additional 1.65 million shares of common stock. Net proceeds from the offer would be used to repay debt, Ares said. (Compiled by Aditi Shrivastava; Editing by Don Sebastian)