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U.S. stock indexes rose on Friday, a day after Federal Reserve Chair Janet Yellen said she expects interest rates to be raised this year, easing concerns about slowing global growth. The Dow Jones industrial average was up 1.43 percent at 16,432.99, the S&P 500 was up 0.86 percent at 1,948.8 and the Nasdaq Composite was up 0.20 percent at 4,743.775.
** NIKE INC, $125.6, +9.42 pct
** UNDER ARMOUR INC, $105.49, +3.23 pct
The world’s largest sportswear maker’s first-quarter profit outpaced expectations as surprisingly steep China growth boosted the company, despite fears of a slowdown in the world’s second-biggest economy.
Shares of Under Armour also rose after Nike’s results.
** APPLE INC, $115.32, +0.28 pct
** CIRRUS LOGIC INC, $31.15, +14.82 pct
** QORVO INC, $48.51, +3.72 pct
** SKYWORKS SOLUTIONS INC, $89.12, +3.21 pct
** QUALCOMM INC, $53.52, +0.47 pct
** AVAGO TECHNOLOGIES LTD, $128.6, +3.63 pct
** TEXAS INSTRUMENTS INC, $47.43, +1.45 pct
The iPhone 6s and 6s Plus hit stores around the world on Friday, at the start of what is expected to be a record weekend for sales of Apple’s marquee product.
Shares of some chipmakers rose after repair firm iFixit opened up iPhone 6s and 6s Plus and identified companies whose chips had been used. (bit.ly/1OxY5xs)
** JABIL CIRCUIT INC, $22.57, +15.74 pct
The contract electronics manufacturer and Apple supplier forecast first-quarter sales above analysts’ expectations on strong demand for iPhones. RBC Capital Markets analysts said they were “positively surprised by the strength JBL is seeing.”
** ENERGY FOCUS INC, $12.11, +6.88 pct
The LED lighting product maker closed its follow-on offering of 3 million shares of common stock at $17 per share. The company sold 1.5 million shares and various investors sold the rest.
** AEHR TEST SYSTEMS, $2.31, +2.67 pct
The semiconductor test equipment supplier swung to a profit in the first quarter. The company’s revenue nearly doubled to $6.6 million, helped by demand for its multi-wafer test solutions for mobile and computing markets.
** PIONEER POWER SOLUTIONS INC, $3.85, -23.00 pct
The specialty electrical transmission equipment maker’s 1.1 million stock offering was priced at $4 each, a discount of 20 percent to the stock’s Thursday close. The offering represent nearly 15 percent of the company’s outstanding shares.
** HELIX ENERGY SOLUTIONS GROUP INC, $4.94, -2.95 pct
The offshore energy services provider moved to S&P SmallCap 600 index from S&P MidCap 400. The company has a market capitalization more representative of the small-cap market space, S&P Dow Jones Indices said.
** HOLLYFRONTIER CORP, $50.95, +5.49 pct
** TESORO CORP, $102.71, +2.30 pct
Shares of U.S. petroleum refiner HollyFrontier Corp rose sharply and trading volume surged on Friday on a market rumor of renewed takeover interest by larger rival Tesoro Corp, market sources said. Reuters has not been able to verify the accuracy of the rumor.
** UNITED RENTALS INC, $63.14, +2.15 pct
Barclays took a bullish stance while initiating coverage on the stock of the world’s largest rental equipment company with an “overweight” rating. BofA-Merrill raised the stock to “neutral” from “underperform” and raised its price objective to $65 from $60.
** SWIFT TRANSPORTATION CO, $16.09, -3.25 pct
The truckload carrier cut its 2015 adjusted earnings per share forecast, hurt by costs related to accident and workers’ compensation claims, settlement of lawsuits, delivery delays and a reduction in expected volumes.
** FINISH LINE INC, $20.57, -16.96 pct
The athletic shoes and apparel retailer reported quarterly sales below analysts’ estimates for the first time in four quarters. The company’s second-quarter comparable sales rose 1.5 percent. Analysts on average had expected a growth of 3.2 percent, according to Consensus Metrix.
** ARATANA THERAPEUTICS INC, $12.315, -29.59 pct
The pet drug maker said both its canine lymphoma drugs would not “fully capture the market opportunity”. The company said recent scientific studies suggested AT-004 and AT-005 were not as specific to the targets as expected.
** SUNOPTA INC, $5.55, -10.91 pct
The Canadian organic food company’s public offering was priced at $6 per share, a 3.7 percent discount to the stock’s Thursday close on Nasdaq. The offering represents 24.3 percent of outstanding shares. SunOpta will use the net proceeds to fund the acquisition of organic frozen fruit supplier Sunrise Holdings, announced in July.
** PIER 1 IMPORTS INC, $7.33, -15.46 pct
At least six brokerages cut their price targets on the home decor and furniture importer’s stock by as much as $5 to as low as $8 after the company reported second-quarter sales and profit below analysts’ estimates on Thursday.
** INTERNAP CORP, $6.94, -17.28 pct
The network services provider cut its 2015 sales forecast, saying MIRO Controller revenue will likely be lower than previously anticipated as orders are pushed into 2016 due to customer budget cycles. D. A. Davidson & Co cut its rating on the stock to “neutral” from “buy”.
** EMERGE ENERGY SERVICES LP, $8.2, -30.33 pct
** U.S. SILICA HOLDINGS INC, $15.27, -9.75 pct
** FAIRMOUNT SANTROL HOLDINGS INC, $3.06, -8.66 pct
** CARBO CERAMICS INC, $20.65, -5.32 pct
Oilfield services provider Emerge Energy withdrew its distribution forecast for the full year on Thursday, citing weak demand and lower pricing in its sand and fuels business.
Shares of other sand proppant suppliers also fell on the news.
** BANK OF AMERICA CORP, $15.99, +2.83 pct
** CITIGROUP INC, $50.62, +3.03 pct
** JPMORGAN CHASE & CO, $61.79, +2.61 pct
** WELLS FARGO & CO, $51.765, +2.40 pct
** MORGAN STANLEY, $32.45, +1.50 pct
** METLIFE INC, $47.5, +2.30 pct
** AMERICAN INTERNATIONAL GROUP INC, $57.81, +1.60 pct
** GOLDMAN SACHS GROUP INC, $180.9, +2.26 pct
** GENWORTH FINANCIAL INC, $4.87, +2.53 pct
** CHARLES SCHWAB CORP, $28.56, +2.44 pct
Shares of major financial companies rose on Friday, following overnight comments by Federal Reserve Chair Janet Yellen. Yellen said the U.S. central bank was on track to raise interest rates this year.
** OFFICE DEPOT INC, $6.885, -6.33 pct
** STAPLES INC, $12.4499, -1.89 pct
EU antitrust regulators have opened an extensive investigation into the U.S. office supplier Staples’ $6.3 billion bid for rival Office Depot as they warned about possible price hikes as a result of the deal.
** COCA-COLA CO, $39.97, +2.09 pct
The beverage maker said on Thursday it planned to sell nine production facilities to three of its largest independent bottlers as it seeks to unload low-margin assets and reduce manufacturing costs in the United States.
** ABBVIE INC, $56.41, -0.28 pct
** GALAPAGOS NV, $43.94, -28.53 pct
AbbVie said it would not buy the rights to Belgium-based Galapagos’ rheumatoid arthritis drug. AbbVie is instead choosing to advance its own arthritis drug, ABT-494, into late-stage studies.
** ABENGOA SA, $4.9, -10.09 pct
The Spanish energy firm is seeking financing to repay a 200 million euro ($223.3 million) project finance loan from U.S. hedge fund. Sources told IFR that the loan came from Elliott Management. The project bond will be a difficult sell given the company’s corporate bonds are trading at deeply distressed levels, despite the project’s investment grade status, investors said.
** NOVARTIS AG, $92.92, +1.22 pct
The drugmaker’s new heart failure drug, Entresto, has been recommended for approval in Europe by the European Medicines Agency’s review body, the company said.
** REYNOLDS AMERICAN INC, $43.47, +3.23 pct
Japan Tobacco Inc is in advanced talks to buy assets worth about $5 billion from Reynolds American, including some of the Natural American Spirit tobacco brand, Bloomberg reported on Thursday. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Kirti Pandey)