September 17, 2015 / 3:34 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Rite Aid, Clarcor, Verizon, Shopify

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U.S. stock indexes were little changed on Thursday, with investors reluctant to trade aggressively ahead of the Federal Reserve’s interest rate decision later in the day. The Dow Jones industrial average was up 0.09 percent at 16,755.32, the S&P 500 was up 0.09 percent at 1,997.04 and the Nasdaq Composite was up 0.24 percent at 4,900.992.

** AERIE PHARMACEUTICALS INC $30.6831, +70.46 pct

The drugmaker said on Wednesday its experimental eye drop met the main goal of a late-stage study. The drug, Rhopressa, showed that it was not inferior to a commonly prescribed treatment, timolol, in reducing pressure inside the eye in patients suffering from glaucoma, or ocular hypertension, the company said.

At least five brokerages raised their price targets by as much as $18 to as high as $49.

** CABLEVISION SYSTEMS CORP, $32.879, +15.20 pct

European telecoms group Altice has agreed to buy the fourth-largest U.S. cable TV operator for a mix of cash and shares in a deal worth $17.7 billion, including debt.

** CLARCOR INC, $48.44, -12.94 pct

The air filtration system maker reported a lower-than-expected profit for the third quarter, hurt by lower demand for its products. The company cut its 2015 profit forecast to $2.70-$2.80 per share from $3.00-$3.15, anticipating lower sales, particularly in its largest industrial and environmental filtration business.

** ORACLE CORP, $36.97, -3.40 pct

The company’s sales fell more than expected in the first quarter, hurt by a strong dollar and a continued drop in licensed software sales and the company warned revenue could fall in the current quarter even on a constant currency basis.

** SHOPIFY INC, $34.88, +20.65 pct

The Canadian e-commerce software maker said merchants who use its platform would be able to sell on Inc. The company currently has similar arrangements with other platforms such as Facebook Inc and Pinterest.


The Chinese solar company’s unit signed an agreement with CFC Group Construction Ltd to supply 170 megawatts of solar panels for utility plants in China. It will deliver over 650,000 solar panels to CFC Construction during the third and the fourth quarters. The deal is Yingli’s largest supply agreement in China.

** LINNCO LLC, $2.9999, +7.14 pct

** LINN ENERGY PLC, $3.53, +6.01 pct


** LEGACY RESERVES LP, $5.19, +5.70 pct

** BONANZA CREEK ENERGY INC, $7.42, +6.30 pct

** SANCHEZ ENERGY CORP, $6.41, +5.25 pct

** STONE ENERGY CORP, $6.51, +3.01 pct

** CALIFORNIA RESOURCES CORP, $3.36, +3.38 pct

Shares of oil and gas producers rose after oil prices gained as a lower dollar and strong U.S. employment data balanced weak Japanese trade figures.

** PEABODY ENERGY CORP, $1.455, -7.91 pct

The coal miner announced a 1-for-15 reverse stock split and said the common stock would begin trading on split-adjusted basis on Oct. 1. The reverse split will reduce Peabody’s number of outstanding shares to about 19 million from 278 million.

** TEREX CORP, $19.66, -5.02 pct

Finnish crane maker Konecranes, which agreed to an all-share merger with Terex in August, said its 2015 operating profit would be roughly the same as last year’s due to lower-than-expected equipment deliveries.

** RITE AID CORP, $7.75, -9.78 pct

The drugstore chain operator cut its full-year forecast for drugstore sales and total earnings, citing “recent sales trends” and expenses related to its $2 billion acquisition of pharmacy benefit manager EnvisionRx.

** NVIDIA CORP, $23.44, +1.47 pct

Jefferies & Co raised its rating on the chipmaker’s stock to “buy” from “hold” and price target to $30 from $23. “With 20 percent of gaming sales occurring in the (United States), we think U.S. investors haven’t yet internalized how rapidly the eSports industry has grown,” analysts wrote in a note. Nvidia, the leading supplier of graphics chips that drive eSports games, is well positioned to benefit from growth in the gaming market, the analysts wrote.

** VERIZON COMMUNICATIONS INC, $44.875, -2.85 pct

The company warned that its full-year 2016 earnings might “plateau” at 2015 levels as it manages near-term impacts including commercial model change in wireless.

** SEQUENOM INC, $2.38, +14.98 pct

The diagnostic device maker said its unit signed a deal with UnitedHealthcare Insurance to provide prenatal lab tests for 43 million people in the United States.

** ZUMIEZ INC, $15.74, +5.78 pct

Stifel raised its rating on the sports apparel and accessories maker’s shares to “buy” from “hold” and set a price target of $18. Long term, the company is well positioned to drive comparable sales and achieve margin expansion, given its unique product assortment and ability to quickly chase trends, analysts wrote in a note. (Compiled by Manish Parashar in Bengaluru; Editing by Kirti Pandey)

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