August 13, 2015 / 1:50 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Kohl's, Coty, Cisco, Paragon Offshore

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U.S. stock indexes fell on Thursday as strong economic data raised the probability that the Federal Reserve could raise interest rates as early as September, rather than later this year. The Dow Jones industrial average was down 0.16 percent at 17,375.45, the S&P 500 was down 0.14 percent at 2,083.08 and the Nasdaq Composite was up 0.06 percent at 5,047.308.

** TESLA MOTORS INC, $239.99, +0.76 pct

The electric-car maker said it planned to raise about $500 million through the sale of 2.1 million shares. Chief Executive Elon Musk has indicated an interest in buying nearly 84,000 shares for about $20 million in the offering.

** CISCO SYSTEMS INC, $29.06, +4.16 pct

The network equipment maker reported higher-than-expected quarterly revenue and profit as strong demand for its products in the United States more than offset weakness elsewhere.

** KOHL’S CORP, $56.53, -8.08 pct

The department store operator reported lower-than-expected same-store sales for the second quarter as a shift in tax-free holidays to August delayed back-to-school shopping.

** COTY INC, $31.06, +8.15 pct

The company reported higher-than-expected sales and profit for the first time in five quarters as strong demand for its Sally Hansen nail products and Rimmel cosmetics more than made up for declining sales of its perfumes.

** HARMONY GOLD MINING CO, $1.07, -7.76 pct

** BARRICK GOLD CORP, $7.99, -1.72 pct

** YAMANA GOLD INC, $2.22, -4.31 pct

Gold prices fell nearly 1 percent on Thursday, snapping five sessions of gains, as concerns over further losses in the yuan after China devalued the currency this week eased, allowing stock markets and the dollar to rebound.

** MYLAN NV, $55.15, -0.38 pct

** PERRIGO CO, $188.12, +1.11 pct

Mylan, which is trying to buy smaller rival Perrigo through a hostile tender offer, lowered the level of support it requires from Perrigo shareholders to push through the takeover.

** YAHOO INC, $35.1, +1.77 pct

Brokerage Sanford C. Bernstein raised its rating on the online search and advertising company’s stock to “outperform’ from “market-perform”, saying that Yahoo’s current share price has significant upside potential.

** GOPRO INC, $59.425, +4.42 pct

Brokerage Cowen and Co started covering the wearable camera maker’s stock with an “outperform” rating and a $76 price target. “We believe GoPro is a category creator, now expanding from a core of action cam/sports enthusiasts to a larger consumer lifestyle capture market,” analysts wrote in a note

** SHAKE SHACK INC, $59.71, -7.84 pct

The hamburger chain operator said its 4-million-share offering was priced at $60 per share, well below Shake Shack’s Wednesday closing price.

** CARETRUST REIT INC, $10.46, -5.34 pct

The secondary offering of 14.2 million of the company’s shares was priced at $10.50 per share, below CareTrust’s Wednesday closing price of $11.05.


The drug developer reported a smaller second-quarter loss, adding to investor optimism surrounding the stock after the company started dosing patients in a late-stage trial to test its drug to treat allergic conjunctivitis on Wednesday.

** GALECTIN THERAPEUTICS INC, $2.84, +19.33 pct

The drug developer said that the U.S. patent office agreed to grant a patent related to the use of pectin compounds in a formulation for antifibrotic therapies. The company’s lead drug, codenamed GR-MD-02, is derived from pectin compound and is currently in mid-stage trials.

** PARAGON OFFSHORE PLC, $0.68, +9.85 pct

The offshore drilling contractor’s second-quarter adjusted profit of 57 cents beats analysts’ average estimate of 21 cents as operating costs nearly halved. The company said it continued to reduce costs aggressively as it did not expect a “quick recovery” in its markets.

** SPRINT CORP, $4.05, +4.38 pct

Japanese telecoms group SoftBank Group Corp, the majority owner of the U.S. wireless carrier, said it bought an additional 22.9 million shares in Sprint at a weighted average price of $3.80. (Compiled by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)

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