August 21, 2015 / 4:38 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Netflix, Apple, HP, Salesforce, New York & Co

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The rout in U.S. stocks continued for the fourth straight day on Friday, with all three major indices down more than 1.5 percent, as fears of a China-led global slowdown were heightened after grim data overnight.

The Dow Jones industrial average was down 1.62 percent at 16,715.56, the S&P 500 was down 1.60 percent at 2,003.2 and the Nasdaq Composite was down 1.78 percent at 4,790.651.

** APPLE INC, $107.96, -4.16 pct

The iPhone maker’s shares were poised for their first close in the red this year, hit by concerns of a slowdown in China, a key growth market for the company.

** HEWLETT-PACKARD CO, $28.46, +4.06 pct

Brokerages including Citi Research and JP Morgan Securities reiterated bullish stance on the No.2 PC maker. “We now believe the bad news is over and the good news is set to be communicated at its upcoming investor day on Sept. 15,” Citi analyst Jim Suva wrote.

** NETFLIX INC, $106.93, -4.94 pct

The video streaming pioneer’s stock decline over the past two session ins part to WSJ report earlier that U.S. states are eyeing taxes on video and live-streaming services.

** WALT DISNEY CO,$99.86, -0.16 pct

Cowen and Company cut the media company’s price target to $89 from $98, citing “tremendous amount of uncertainty” in the future of big U.S. media companies.

** TUESDAY MORNING CORP, $5.19, -43.95 pct

The off-price retailer reported lower-than-expected fourth-quarter revenue, hurt by the net closure of 41 stores this year.

** SKECHERS USA INC, $139.59, -4.94 pct

The sports shoe maker and retailer approved a 3-for-1 split of its Class A and Class B common stock that will be distributed in the form of a stock dividend.


The China-based network services provider reported second-quarter revenue way below its earlier forecast, hurt by difficulties related to migration to its new cloud-based platform.

** MYOS CORP, $2.3, -27.22 pct

The company, which makes products to improve human muscle health, said Chief Operating Officer Peter Levy resigned.

** DEERE & CO, $84.18, -7.14 pct

The maker of John Deere tractors said third-quarter profit tumbled 40 percent on weak demand for agricultural equipment, overall lower shipment volumes and a stronger dollar, and gave a bleaker forecast for fourth-quarter sales.

** SALESFORCE.COM INC, $69.35, +2.26 pct

The cloud software company reported a better-than-expected quarterly results, helped by an increase in demand for its Web-based sales and marketing software, and raised its revenue forecast for the full year for the third time.

** NEW YORK & CO, $2.61, +23.70 pct

The women’s apparel maker reported better-than-expected second-quarter results on higher comparable sales due to launch of its Jennifer Hudson Soho Jeans Collection in July.

** DOLBY LABORATORIES INC, $32.15, -3.08 pct

Morgan Stanley bought and re-offered 2.4 million shares of the audio technology company at $32.30, a 2.6-percent discount to stock’s $33.17 close on Thursday, sources said.

** STEINER LEISURE LTD, $64.61, +14.29 pct

The operator of spa services on cruise ships and hotels, said it would be taken private by private equity firm Catterton Partners for about $843 million, or $65 per share.

** BAYTEX ENERGY CORP, $4.67, -7.89 pct

The Canadian oil and gas company said it would suspend monthly dividend and stop further drilling at Peace River and Lloydminister areas in Canada for rest of year and cut its 2015 crude oil production forecast

** AMERICA’S CAR-MART INC, $38.09, -8.61 pct

The auto dealer reported a 36 percent fall in first-quarter profit as its provision for credit losses increased.

** ACCURAY INC, $6.82, +16.78 pct

The cancer radiation device maker received an order for non-invasive radiosurgical devices from 21st Century Oncology, which it booked in the first quarter.


Taiwan’s Advanced Semiconductor Engineering Inc (ASE) , the world’s top chip packager and tester, said it would buy up to 25 percent of Siliconware for an amount likely exceeding T$30 billion ($919 million).

ASE said it would offer T$45 per common share of SPIL, the industry’s third-biggest packager, and T$225 ($6.89) per American Depositary Share.

** INTUIT INC, $91.61, -11.00 pct

The tax-preparation software maker reported a fourth-quarter adjusted loss as expenses rose 17 percent and the company also forecast an adjusted loss for the current quarter. Intuit also said it plans to divest Demandforce, QuickBase and Quicken. At least 7 of the 18 brokerages covering Intuit cut their target price on the stock.

** ROSS STORES INC, $50.81, -8.04 pct

The off-price retailer forecast slowing same-store sales growth in third and fourth quarter compared to last year, citing intense competition and higher discounts at other department stores and retailers.


The network equipment maker reported better-than-expected third-quarter results, driven by an increase in router sales.

** NET 1 UEPS TECHNOLOGIES INC, $20.16, +4.73 pct

The South Africa-based payment solutions provider posted a better-than-expected quarterly profit, helped by lower costs and higher revenue from its financial inclusion and applied technologies unit.

** FRESH MARKET INC, $21.5, -19.14 pct

The grocery store operator reported lower-than-expected quarterly profit and revenue as consumers bought less organic and fresh produce from its stores. The company’s comparable store sales fell more than expected.

** ELDORADO GOLD CORP, $3.51, -12.03 pct

The Canadian miner said it would suspend all mining and development activities in the Halkidiki region in Greece after the Greek Energy Ministry on Wednesday revoked approvals for technical studies in the region.

** SYSCO CORP, $40.1, -1.11 pct

The food distributor added Nelson Peltz and another Trian Fund executive to its board, days after the activist investor disclosed a 7.1 percent stake in the company and called its shares “undervalued”.

** INTERDIGITAL INC, $47.85, -1.10 pct

** MICROSOFT CORP, $44.31, -2.96 pct

InterDigital has violated U.S. antitrust law by failing to keep its promise to fairly license its technology considered essential to mobile phone communications, Microsoft said in a lawsuit.

** INTREXON CORP, $45.75, +7.65 pct

The company said it has commenced an underwritten offering of common stock and intends to grant the underwriters the option to buy up to an additional 15 percent of shares in the offering. (Compiled by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)

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