February 24, 2017 / 1:12 PM / in a year

BUZZ-U.S. STOCKS ON THE MOVE-J.C. Penney, Cempra, RH, Nordic American Offshore

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U.S. stock index futures were lower on Friday as a drop in oil prices weighed on the “Trump rally”, with investors also seeking details regarding President Donald Trump’s plans to boost the economy.

Dow Jones Industrial Average futures were down 0.42 percent at 20,710, S&P 500 futures were down 0.47 percent at 2,351.75 and Nasdaq 100 futures were down 0.54 percent at 5,303.

** J.C. PENNEY CO INC, Thursday close $6.86, -3.64 pct premarket

The department store operator said it would close about 130-140 stores in the next few months as part of its plan to return to profitability, and reported a 0.7 percent drop in same-store sales for the holiday-season quarter.

** CEMPRA INC, Thursday close $3.15, +46.03 pct premarket

The drug developer said its oral experimental drug to treat acute bacterial skin infections met the main goal of a late-stage study.

** RH, Thursday close $25.19, +15.09 pct premarket

The luxury furniture retailer reported preliminary adjusted net revenue of about $590 million for the fourth quarter, ahead of the average analyst estimate of $583.5 million and announced a $300 million repurchase program.

** NORDIC AMERICAN OFFSHORE LTD, Thursday close $2.05, -26.83 pct premarket

The offshore service provider announced a public offering of 33.3 million common shares and said it would use proceeds for general corporate purposes, working capital purposes and expansion of its fleet.

** DIGITALGLOBE INC, Thursday close $34.05, -4.55 pct premarket

MacDonald Dettwiler and Associates Ltd said it had agreed to buy U.S.-based satellite imagery provider DigitalGlobe Inc for about C$3.10 billion ($2.40 billion) to strengthen its position in the U.S. market.

** ALPHABET INC, Thursday close $851.00, -0.81 pct premarket

Alphabet Inc’s Waymo self-driving car unit sued Uber Technologies and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology.

** BAIDU INC, Thursday close $184.64, -0.80 pct premarket

The Chinese internet search giant revenue fell for a second straight quarter, hurt by a government crackdown on healthcare advertising, but the internet search giant expects a rebound this year as it retools to find growth outside its core ad business.

** HILTON WORLDWIDE HOLDINGS INC, Thursday close $57.21

The owner of the Waldorf Astoria hotel chain said it would buy back up to $1 billion of its shares, and that it would change its corporate name to “Hilton Inc”, effective March 6.

** MAGNA INTERNATIONAL INC, Thursday close $45.15, -0.33 pct premarket

The Canadian auto parts maker reported a lower-than-expected quarterly profit as costs rose. (Compiled by Vishaka George in Bengaluru; Edited by Martina D’Couto)

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