October 31, 2014 / 1:47 PM / in 4 years

BUZZ-U.S. Stocks on the Move-Gold stocks, Sarepta, Groupon, Mylan

(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 rose at the open on Friday as markets rallied globally after the Bank of Japan significantly ramped up its stimulus program just days after the Federal Reserve wound down its own package of U.S. economic incentives. The Dow Jones industrial average was up 0.80 percent at 17,332.94, the S&P 500 was up 0.83 percent at 2,011.26 and the Nasdaq Composite was up 1.27 percent at 4,624.041.

** BARRICK GOLD CORP, $11.63, -5.37 pct

** ELDORADO GOLD CORP,$5.46, -9.90 pct

** YAMANA GOLD INC, $3.92, -12.11 pct

** ENDEAVOUR SILVER CORP, $2.93, -6.98 pct

** ANGLOGOLD ASHANTI LTD,$8.2, -3.19 pct

Gold and silver slumped to their lowest since 2010 as the dollar and stock markets soared following a new round of quantitative easing by the Bank of Japan and U.S. data showing a robust economy.

Spot gold down 2.5 pct at $1,168.66 an ounce.

Spot silver fell nearly 3 pct to $15.94 an ounce.

** GROUPON INC, $6.64, +10.85 pct

The online discount coupon provider posted higher-than-expected third-quarter profit and revenue as billings grew, mainly due to the acquisition of South Korean e-commerce company, Ticket Monster.

RBC raised its price target on the stock to $7 from $6 and Credit Suisse to $6.50 from $6.29.

Revenue and gross profit growth, robust billings growth, overall improving metrics and continued share buybacks are the reasons for the price target raise, RBC analysts wrote in note.

** SAREPTA THERAPEUTICS INC, $17.58, +11.76 pct

The U.S. Food and Drug Administration responded to members of the Duchenne Muscular Dystrophy (DMD) community regarding its guidance on Sarepta’s marketing application for its experimental DMD drug.

Earlier this week, the regulator requested additional data to support the marketing application for Sarepta’s drug, eteplirsen, due to concerns about the methods used to measure a key biomarker, dystrophin, for DMD.

** BOYD GAMING CORP, $12.32, +11.70 pct

The gaming company reported third-quarter revenue above the average analyst estimate due to higher revenue from its Las Vegas operations.

** OSHKOSH CORP, $46.6, +3.74 pct

The industrial equipment maker reported better-than-expected fourth-quarter profit and revenue as higher demand from commercial customers for its access equipment offset lower U.S. military spending. The company also raised its quarterly dividend to 17 cents per share from 15 cents.

** WISDOMTREE INVESTMENTS INC, $14.17, +21.01 pct

The asset manager said it would buy up to $100 million of its common stock over three years.

** IMPERVA INC, $39.89, +22.81 pct

At least five brokerages raised their price targets on the data security provider’s stock by as much as $15 to as high as $44. The median price target is $40, according to Thomson Reuters data.

The company reported higher-than-expected third-quarter revenue and a smaller-than-expected loss on Thursday and raised its full-year revenue forecast, helped by growth in subscription revenue.

Imperva also forecast full-year revenue above analysts’ average estimate and said it expected smaller loss than analysts were expecting.

Brokerage firm Piper Jaffray raised its rating on the stock to “overweight” from “neutral”.

** MYLAN INC, $55.38, +5.75 pct

The drugmaker’s third-quarter adjusted profit and revenue beat analysts’ average estimate. Mylan also raised its full-year adjusted earnings forecast to $3.54-$3.60 per share from $3.44-$3.54.

“We remain confident in MYL’s growth outlook based on a strong base business,” Goldman Sachs said.

** AVIV REIT INC, $33.78, +12.23 pct


Omega Healthcare said it would buy Aviv for $3 billion or $34.97 per share. Aviv owns skilled nursing facilities and healthcare properties. The stock has an intrinsic value of $33.77, according to Thomson Reuters StarMine.

** STARBUCKS CORP, $75.2902, -2.63 pct

The world’s biggest coffee chain’s shares fell after it reported lower-than-expected same-store sales in the Americas region. Chief executive Howard Schultz blamed the rise of online and mobile shopping for fewer visits to malls and other retail areas. JP Morgan analysts said the chief executive’s reason was “not an illogical one”. The brokerage firm also cut its price target on the stock to $82 from $85.


The company, which makes parts for Boeing Co and Airbus Group NV, reported a 79 percent rise in quarterly profit and raised its full-year profit forecast.

** GOPRO INC, $78.75, +15.38 pct

The wearable camera maker forecast better-than-expected holiday-quarter sales and reported third-quarter results above analysts estimates.

“The company is executing well, the addressable market continues to expand with the evolution of the overall platform,” JP Morgan Securities wrote in a note titled “GoGo for GoPro.”

At least two brokerages raised their price targets on the stock to as much as $80.

** LINKEDIN CORP, $228.665, +12.70 pct

The corporate networking site reported better-than-expected quarterly profit and revenue as more businesses used its services to hire staff.

At least 10 brokerages, including JP Morgan, raised their price targets on the stock on Thursday.

** EXPEDIA INC, $85.01, +5.30 pct

The online travel company reported robust third-quarter earnings on Thursday and topped analyst estimates, as strong hotel bookings boosted its profit by more than 50 percent from the year-earlier quarter.


The world’s second-largest money transfer company said it would cut prices for transfers within the United States due to rising competition, and withdrew its forecast for the year.

The company slashed its forecast for the year in April due to impending competition from Wal-Mart Stores Inc’s new money transfer service.

** MERCADOLIBRE INC, $132.065, +14.64 pct

The Latin American online retail company reported better-than-expected third-quarter profit and revenue. Items sold on its platform jumped 22.3 percent to 26.9 million.


The drugmaker cut its full-year sales outlook due to higher patient dropout rates and lower U.S. prescription growth rates.

** NEWMONT MINING CORP, $19.37, -4.72 pct

The largest U.S.-based gold miner reported lower third-quarter earnings on Thursday but beat market expectations and also reduced its forecast for gold production costs this year.

** WESTERN UNION CO, $17.08, +2.28 pct

The world’s largest money-transfer company, reported a better-than-expected quarterly profit as it benefited from its digital money transfer services.


The bedding maker cut its full-year adjusted profit forecast, saying it expects costs to continue to hurt margins at its international and Sealy businesses. (Compiled by Yashaswini Swamynathan in Bangalore; Editing by Simon Jennings)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below