September 4, 2015 / 5:59 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Vince, UTI, Infoblox, BP, Teekay Tankers

(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 fell in late morning trading on Friday as a mixed August jobs report did little to quell investor anxiety over the timing an interest rate increase. The Dow Jones industrial average was down 1.90 percent at 16,063.43, the S&P 500 was down 1.77 percent at 1,916.55 and the Nasdaq Composite was down 1.31 percent at 4,671.691.

** VINCE HOLDING CORP, $5.51, -40.56 pct

Apparel retailer cut full-year forecast for the second time and posted second-quarter profit below estimates for first time in seven quarters. Lower earnings forecast reflects weak trends in its domestic wholesale and direct-to-consumer channels, Barclays says, slashing PT to $5 from $14.

** UTI WORLDWIDE INC, $5.64, -13.63 pct

The logistics company reported bigger-than-expected second-quarter loss and lower-than-expected revenue, hurt by lower volumes in air and ocean freight forwarding businesses.

** BP PLC, $30.67, -5.37 pct

BofA Merrill Lynch cut rating on the stock to “underperform” and warned of growing risks to the company’s dividend and potential for M&A that could be financed by stock.

** VERIFONE SYSTEMS INC, $30.53, -1.67 pct

Wedbush Securities cuts PT on the credit card swipe machine maker’s shares to $40 from $47, Susquehanna Financial Group to $42 from $43; median PT $41. The company forecasts Q4 revenue, profit below estimates, saying it expects slowness in markets such as Brazil, Russia and Nigeria.

** INFOBLOX INC, $17.81, -10.37 pct

The network management equipment maker’s forecast falls below market estimates due to higher R&D spending plans

However fourth-quarter sales, first-quarter sales view top estimates, which Citi says “appears to be mostly driven by the ‘-A’ refresh”

** EV ENERGY PARTNERS, $7.86, -7.20 pct

Raymond James downgrades stock to “underperform” from “market perform” on expectations of a distribution cut.

Credit Suisse had double downgraded stock on Aug 13 also forecast distribution cut


Cowen & Co raises price target on the healthcare IT company to $5 from $4.50; median PT is $5

“...the significant improvements in second quarter suggest full-year revenue guidance of $29-30 mln is well within reach, even without further perpetual license deals,” analysts write in note

** TEEKAY TANKERS LTD, $6.38, +4.25 pct

UBS Investment Research raises rating to “buy” from “sell”, price target to $7.25 from $6.75

Downgraded stock to “sell” from “neutral” in June.

Analysts say stock was over-valued at June levels, but current positive outlook for crude and product tankers helps value it higher.

** SKYWEST INC, $16.87, +4.85 pct

Shares lift after Cowen & Co upgrades stock to “outperform” from “market perform”.

Analyst Helane Becker raises price target to $19 from $16, says SkyWest more reliant on larger jets and its fleet reduction will free up pilots, offset attrition and drive growth.

** ESTERLINE TECHNOLOGIES CORP, $76.955, -6.06 pct

The aero parts maker reports weaker-than-expected third-quarter profit, hurt by lower sales in sensors and systems and advanced materials businesses

** TECK RESOURCES LTD, C$8.37, -7.11 pct

** U.S.-listed shares, $6.31, -7.34 pct

Analysts at Canaccord Genuity cut price target on the Toronto-listed stock to C$9 from C$12.

** STEREOTAXIS INC, $1.171, -14.53 pct

Stereotaxis to offer shareholders one subscription warrant for every four common shares held

Each warrant entitles holder to buy one share at $1.10 per share vs Thursday’s close of $1.37.

** NETFLIX INC, $98.08, -2.95 pct

Stock on track to record 6 straight days of losses for only the second time in more than a year. US equity markets on the backfoot with large and liquid outperformers in the tech sector firmly in the cross-hairs.

** COOPER COMPANIES INC, $152.81, -5.27 pct

The medical device maker lowers its 2015 profit and revenue forecast, blaming forex rates

BMO says cut also due to weak contact lens market, but real problem is “they had baked into guidance inventory stocking for Clariti (lenses) that is just not occurring”.

** QUALCOMM INC, $54.44, -2.00 pct

Qualcomm President Derek Aberle, under pressure from activist hedge fund Jana Partners to improve the licensing and chip design firm’s stock performance, on Thursday sounded a cautionary note about a potential breakup of the company.

** JOY GLOBAL INC, $19.06, +0.85 pct

Stock fell as much 19 pct on Thursday to hit more than 6-year low after company cut FY 2015 revenue, profit forecast (Compiled by Amrutha Penumudi in Bengaluru; Edited by Don Sebastian)

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