June 10, 2016 / 3:38 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Global Blood, Axiall, H&R Block

(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) Global growth worries and a sharp drop in oil prices sent jitters through Wall Street, leading the three major U.S. indexes lower for the second straight day on Friday. The Dow Jones industrial average was down 0.45 percent at 17,904.79, the S&P 500 was down 0.65 percent at 2,101.82 and the Nasdaq Composite was down 0.90 percent at 4,914.164.

** GEVO INC, $0.4447, -36.47 pct

The chemical and biofuel maker filed for a common stock offering of an undisclosed size, and intends to use net proceeds from the offering to fund working capital and for other general corporate purposes.

** MARVELL TECHNOLOGY GROUP LTD, $9.789, -4.03 pct

The chipmaker said it would not be able to file its 10-Q for the quarter ended April 30 due to an ongoing internal accounting probe. The company also said it expects net revenue for the first quarter to be substantially lower than a year earlier.

** MYLAN NV, $44.34, -3.10 pct

The generic drugmaker could become target of regulators, the media and patient advocacy groups for its aggressive pricing actions, Wells Fargo analysts said.

** H&R BLOCK INC, $23.82, +10.59 pct

The U.S. tax-preparer posted better-than-expected fourth-quarter revenue, helped by improved pricing.

** SOPHIRIS BIO INC, $2.2, +88.03 pct

The company reported positive data from the completed Phase 2a study of its prostate cancer treatment.

** AXIALL CORP, $32.5, +25.92 pct

Westlake Chemical Corp reached a deal to buy chemical producer Axiall for $2.33 billion, after a six-month pursuit that included multiple bids and a rival offer from South Korea’s Lotte Chemical Corp.

** FRANCESCA’S HOLDINGS CORP, $10.0601, -5.36 pct

The women’s apparel and accessories retailer on Thursday cut its full-year sales and profit forecast, citing continued weakness in overall retail environment, lower traffic and higher promotions.

** URBAN OUTFITTERS INC, $26.36, -5.62 pct

The apparel retailer said its quarterly comparable retail segment net sales so far are mid single-digit negative.

At least six brokerages, including Deutsche Bank, cut their price targets on the stock.

** INSYS THERAPEUTICS INC, $15.19, -5.24 pct

Two former employees of an unnamed pharma company were charged in a scheme to pay doctors thousands of dollars to participate in sham educational programs and to induce them to prescribe millions of dollars worth of fentanyl-based sublingual spray, according to the DOJ.

One of the accused, Fernando Serrano, identifies himself as former employee of Insys on LinkedIn, according to TheFly.com.


The company’s early-stage data supported safety and efficacy profile of its experimental drug, GBT440, for the treatment of sickle cell disease.

** MATTRESS FIRM HOLDING CORP, $28.555, -14.96 pct

At least 4 brokerages cut their price targets after the mattress retailer reported a bigger-than-expected quarterly adjusted loss per share, hurt by charges related to the amortization of its tradename.


The Canadian drugmaker will pay $54 million to settle civil charges that its Salix unit paid illegal kickbacks to induce doctors to prescribe seven of its products, causing the submission of thousands of fraudulent reimbursement claims to the U.S. government.

** LENDINGCLUB CORP, $4.37, -2.24 pct

** ON DECK CAPITAL INC, $5.09, +0.79 pct

Many online lenders have failed to detect the “stacking” of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. (Compiled by Sruthi Shankar and Arunima Banerjee in Bengaluru; Editing by Maju Samuel)

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