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U.S. stocks were little changed on Friday, in the wake of comments from Federal Reserve Chair Janet Yellen. The Dow Jones industrial average was down 0.19 percent at 17,006.79, the S&P 500 was down 0.19 percent at 1,988.57 and the Nasdaq Composite was up 0.15 percent at 4,538.74.
** PEREGRINE SEMICONDUCTOR CORP, $12.375, +60.92 pct
Japan’s Murata Manufacturing Co Ltd said it would buy the part of U.S. radio frequency chipmaker Peregrine it does not already own for $465 million in cash, as it looks to strengthen its RF business.
The offer price of $12.50 per share is at a premium of 62.5 percent to Peregrine’s Thursday close of $7.69.
** WAFERGEN BIO-SYSTEMS INC, $4.74, -53.00 pct
The lifescience company issued 4 million shares and warrants to buy 4 million shares for net proceeds of $18 million. The offering was priced at $10,000 per unit, with each unit comprising 2,000 shares and 2,000 warrants.
The stock started trading on the Nasdaq on Aug. 22 after the offering. It was traded on over the counter earlier.
** KEURIG GREEN MOUNTAIN INC, $131.25, +11.47 pct
The coffee maker signed a multi-year agreement with Kraft Foods Group Inc to license and distribute Kraft-branded coffee in Keurig’s portion packs. Financial terms were not disclosed.
** AEROPOSTALE INC, $3.51, -10.23 pct
Jefferies and Co analysts cut their price target on the stock after the teen apparel retailer reported bigger-than-expected second-quarter loss on Thursday as comparable store sales slid 13 pct
Analysts said that low demand for company’s products to be “formidable challenge to reverse”.
** ALLERGAN INC, $164.5, +0.07 pct
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $115.3, +1.31 pct
Valeant Pharmaceuticals and Pershing Square Capital Management will submit a request on Friday to Allergan for a special shareholders meeting, sources told CNBC television.
Allergan is fighting Valeant and Pershing Square’s $49 billion offer to buy the company.
** ROSS STORES INC, $73.99, +6.84 pct
At least four brokerages raised their price targets on the stock after the discount retailer’s reported better-than-expected second-quarter sales and profit on Thursday as “value-focused consumers” favored its products such as apparel and accessories.
Suntrust Robinson Humphrey analysts said momentum gained as the quarter progressed is a “positive indicator for the back half”.
** FOOT LOCKER INC, $54.15, +3.01 pct
The specialty athletic retailer reported higher-than-expected second-quarter profit and sales, helped by strong same-store sales growth.
** CHC GROUP LTD, $6.91, +11.63 pct
The commercial helicopter operator said late on Thursday that private equity firm Clayton, Dubilier & Rice (CD&R) would pay $500 million for a 45 percent ownership in the company. CD&R would pursue additional $100 million rights offering and the company would use the proceeds primarily to reduce debt and other charges.
** SALESFORCE.COM INC, $60.03, +7.75 pct
The company reported better-than-expected quarterly revenue, helped by an increase in demand for its web-based sales and marketing software, and raised its full-year profit and revenue forecast.
** DYNEGY INC, $32.16, +8.21 pct
** DUKE ENERGY CORP, $72.75, -0.40 pct
U.S. power company Dynegy said it would buy 12,500 megawatts (MW) of coal and gas generation assets in two deals, valued at $6.25 billion, that would nearly double Dynegy’s generating capacity to about 26,000 MW nationally
The company said it would buy Duke Energy’s non-regulated Midwest commercial generation business and some of Energy Capital Partners’ power generating assets.
** GAP INC, $45.21, +4.70 pct
The apparel retailer raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging markets.
** AASTROM BIOSCIENCES INC, $4.0501, +11.27 pct
The drugmaker said a medical journal published results of mid-stage studies showing that its experimental heart drug reduced risk of major adverse cardiovascular events in patients with ischemic dilated cardiomyopathy.
** ANN INC, $37.37, -3.71 pct
The women’s apparel retailer forecast current-quarter sales below the average analyst estimate. The company reported a 2.3 pct fall in second-quarter same-store sales, hurt by lower traffic at its Loft chain and said it expected third-quarter same-store sales growth to be flat to slightly negative.
** FRESH MARKET INC, $32.74, +7.59 pct
The specialty grocery retailer reported better-than-expected second-quarter earnings, helped by 2.9 pct rise in same-store sales. The company also reaffirmed its sales and adjusted earnings outlook for 2014.
** GAMESTOP CORP, $42.91, +5.98 pct
The company on Thursday reported its quarterly revenue surged by 25 percent over the prior year, topping expectations, buoyed by the success of new game releases as well as solid sales of gaming hardware from Microsoft Corp and Sony Corp.
At least two brokerages raise price targets on stock, including BMO Capital Market, by as much as $6.
** KING DIGITAL ENTERTAINMENT PLC, $13.74, +3.00 pct
The social and mobile game company said it released a Chinese version of its popular game, Candy Crush Saga.
The game is integrated with Tencent Holdings Ltd’s instant messaging platforms Mobile QQ and Weixin as well as Tencent’s App Center and Apple Inc’s Chinese App Store
** DEERE & CO, $84.85, -1.58 pct
The world’s largest farm equipment maker said it would indefinitely layoff 460 employees in Waterloo, Iowa effective Oct. 20. The layoffs are part of a wider effort to cut production as falling grain prices hurt demand for tractors, harvesters.
** INTER PARFUMS INC, $30.33, +4.59 pct
Citi upgraded the fragrance maker’s stock to “buy” from “neutral”, according to streetinsider.com.
** INTUIT INC, $83.54, -2.65 pct
The developer of tax-preparation software TurboTax forecast a much bigger first-quarter loss, citing restructuring in its small business group unit. (Compiled by Abhirup Roy in Bangalore; Editing by Sriraj Kalluvila)