U.S. Stocks on the Move-BP, Christopher & Banks, retail stocks

Stereotaxis

04/09/2014 18:33

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    U.S. stocks climbed on Thursday after the European Central 
Bank cut interest rates and announced a new credit plan, and as 
a flurry of data indicated the U.S. economy was steadily 
improving. The Dow Jones industrial average  .DJI  was up 0.25 
percent at 17,120.7, the S&P 500  .SPX  was up 0.26 percent at 
2,006.01 and the Nasdaq Composite  .IXIC  was up 0.64 percent 
4,601.64.  .N  
     
    ** BP PLC  BP.N , $45.037, -5.60 pct 
    BP  BP.L  was "grossly negligent" for its role in the 2010 
spill in the Gulf of Mexico, a U.S. district judge said on 
Thursday in a ruling that could add billions of dollars in fines 
to the more than $42 billion in charges taken so far for the 
worst offshore disaster in U.S. history.  ID:nL1N0R51H1  
     
    ** CHRISTOPHER & BANKS CORP  CBK.N , $10.68, +11.37 pct 
    The women's apparel retailer reported better-than-expected 
Q2 profit, helped by higher same-store sales. Same-store sales 
rose 2.6 percent due to new fashion merchandise and marketing 
activities.  ID:nBw8R311Ma  
         
    ** COSTCO WHOLESALE CORP  COST.O , $124.75, +2.80 pct 
    ** L BRANDS INC  LB.N , $64.82, +1.77 pct 
    ** J C PENNEY CO INC  JCP.N , $11.1, +4.52 pct 
    Costco and L Brands reported better-than-expected August 
same-store sales as back-to-school season draw shoppers (http://tmsnrt.rs/1lC4ZVC) 
    JC Penney Co Inc's shares rose 4.7 pct on the August sales 
data. 
     
    ** AMAZON.COM INC  AMZN.O , $347.35, +2.46 pct 
    Sanford C. Bernstein raised its price target on the stock of 
the online retailer to $450 from $360. "Amazon has built a 
better, more cost-effective retail model than the vast majority 
of brick-and-mortar retailers," Bernstein analysts wrote in a 
note. The median price target on stock is $400, according to 
Thomson Reuters data. 
     
    ** YINGLI GREEN ENERGY HOLDING CO LTD  YGE.N , $3.63, +5.52 
pct 
    ** JINKOSOLAR HOLDING CO LTD  JKS.N , $32.11, +2.39 pct 
    ** TRINA SOLAR LTD  TSL.N , $14.2, +2.53 pct 
    Cowen and Co analysts "continue to see solid growth" for the 
industry and say China remains the main swing factor. 
"Distributed generation segment in China is starting to show 
signs of life as subsidies are rolled out," they wrote in a note 
to clients on Wednesday. The analysts forecast solar capex of 
$3.1 billion in 2014, up 105 percent from 2013. Up to 
Wednesday's close, the MAC Global Solar Energy Index  .SUNIDX  
was up more than 27 percent this year. 
     
    ** TANGOE INC  TNGO.O , $13.26, -6.62 pct 
    Barclays cut its rating on the telecommunication software 
company's stock to "equal weight" from "overweight", making it 
the only brokerage among six to not have a "buy" or higher 
rating on the stock. Wall Street's implied revenue growth 
acceleration for the company in the second half looks 
particularly challenging, Barclays' analysts said. 
    "We and investors have been waiting for a re-acceleration of 
the business for several quarters and we believe this is 
increasingly turning Tangoe into a wait-and-see story ... which 
will likely keep the shares at suppressed levels". 
    Barclays also cut its price target to $15 from $22, the 
lowest among six brokerages. The median price target on stock is 
$19, down from $22 a month back, according to Thomson Reuters 
data. 
     
    ** ABM INDUSTRIES INC  ABM.N , $28.32, +6.59 pct 
    The facility services provider forecast 2014 earnings of 
$1.65-$1.69 per share, higher than average analyst estimate of 
$1.60. "Our pipeline of new business remains robust and our 
strategic focus on key verticals should continue to drive sales 
growth," Chief Executive Henrik Slipsager says in statement. 
 ID:nBw2xFgS5a  
    The stock reported its largest intraday percentage gain 
since November 2011 and is one of top gainers on New York Stock 
Exchange on Thursday. 
     
    ** ARADIGM CORP  ARDM.O , $9.55, +7.42 pct  
    The U.S. FDA gives the specialty pharmaceuticals company's 
lead drug fast track status, which expedites reviews of drugs 
intended to treat serious conditions with little or no treatment 
options. The drug, pulmaquin, is being tested in late-stage 
studies to treat non-cystic fibrosis bronchiectasis. 
 ID:nBw4fT36Na  
     
    ** FLEXION THERAPEUTICS INC  FLXN.O , $14.3999, +12.32 pct 
    The specialty pharmaceutical company announced on Wednesday 
that the FDA had allowed it to accelerate the timeline of its 
lead experimental drug, which aims to treat osteoarthritis of 
the knee. The decision allows company to complete development of 
drug, FX-006, by late next year, and potentially file for 
marketing approval in early 2016.  ID:nGNXVBLKGa  
    "Product launch could potentially be moved up from late 2017 
to early 2017," Wells Fargo analyst Michael Faerm said. 
     
    ** AEROVIRONMENT INC  AVAV.O , $31.52, -6.33 pct 
    The drone maker reported a first-quarter loss of 16 cents 
per share, wider than the average analysts' estimate of 11 
cents, according to Thomson Reuters I/B/E/S  ID:nBw6qKLp4a  
     
    ** TASER INTERNATIONAL INC  TASR.O , $17.94, +7.17 pct 
    The stun gun maker received multiple orders from the 
Cleveland police department for its Taser brand smart weapons. 
The company did not disclose the financial terms. 
 ID:nL1N0R50R0  
    The stock had gained about 35 percent since Aug. 8, a day 
before fatal shooting in Ferguson, Missouri, through Wednesday. 
     
    ** METHODE ELECTRONICS INC  MEI.N , $39.11, +14.16 pct 
    The electronic component maker said it expects full-year 
profit of $2.10-$2.20 per share on revenue of $870 million-$885 
million, up from prior forecast of a profit of $1.85-$2 per 
share on revenue of $835 million-$860 million. Methode 
Electronics reported a better-than-expected first quarter 
results, helped by higher sales and better margins in its 
automotive unit.  ID:nMKW6tX9za  
    The company's shares rose 16.5 percent to a 14-year-high of 
$40. 
     
    ** IRONWOOD PHARMACEUTICALS INC  IRWD.O , $12.26, -5.62 pct 
    Cowen & Co lowered its rating on the drugmaker's stock to 
"market perform" from "outperform", citing recent physician 
feedback on Ironwood's constipation drug, Linzess. The brokerage 
also slashed its price target to $10.50 from $16.00, saying its 
consultants believe adoption of Linzess by general practitioners 
will be slow. 
     
    ** NORTHSTAR REALTY FINANCE CORP  NRF.N , $18.3, -2.92 pct 
    The real estate investment trust priced its offering of 45 
million shares at $18.40 per share, a discount of 2.4 percent to 
stock's Wednesday close. The offering represents 22.7 percent of 
outstanding shares as of Aug. 8.  ID:nPn4j7hBX  
    The stock is most traded on New York Stock Exchange on 
Thursday. Deutsche Bank Securities Inc will borrow and sell 22.5 
million shares to underwriters in the offering. 
                  
    ** SHOE CARNIVAL INC  SCVL.O , $19.86, -10.38 pct 
    The footwear retailer reported lower-than-expected second 
quarter sales and profit as fewer customers visited its stores 
and expenses rose. Its profit has now missed estimates for the 
last three quarters. The company forecast third quarter 
comparable-store sales to either decline up to 1 percent or grow 
up to 1 percent. 
    Susquehanna Financial Group analysts cut price target to $24 
from $25 on the stock which had fallen 24 percent this year up 
to Wednesday's close.  ID:nL3N0R53OJ  
     
    ** SOLARCITY CORP  SCTY.O , $70.8301, +4.59 pct 
    The solar panel installer said it would open 20 new 
operations centers in seven U.S. states. The company, backed by 
Tesla Motors Inc  TSLA.O  founder Elon Musk, says new centers 
expected to create more than 600 additional jobs. 
 ID:nGNXVBLRLa  
 
    ** BAZAARVOICE INC  BV.O , $8.01, +6.80 pct  
    B. Riley & Co raises price target on stock of the software 
maker to $10 from $9.75, saying net new client additions in Q1 
were significantly higher than it had estimated. 
    Bazaarvoice, which provides businesses online and social 
media tools to interact with customers, reported 
higher-than-expected Q1 revenue and smaller-than-expected loss 
on Wednesday  ID:nGNXVBLJAa  
     
    ** VERIFONE SYSTEMS INC  PAY.N , $35.58, +3.01 pct 
    The credit card swipe machine maker raised full-year revenue 
forecast for the third time, encouraged by strong sales of 
devices that can accept chip-embedded credit cards. VeriFone 
also raised full-year profit forecast and reported 
better-than-expected third quarter revenue. 
    The company is benefiting as U.S. retailers upgrade their 
point-of-sale terminals to systems compatible with more secure 
credit cards in the wake of several data breaches. Up to 
Wednesday's close, the stock had risen nearly 30 percent this 
year.  ID:nL3N0R53ZX  
     
    ** ARLINGTON ASSET INVESTMENT CORP  AI.N , $27.2, -4.19 pct 
    The mortgage investor said it was offering 2.75 million 
shares of Class A common stock - 14 percent of its total 
outstanding shares - at $27.61 each, a 2.7 pct discount to 
Wednesday's close.  ID:nPn5dRH4M  
    Arlington said it plans to use the proceeds to acquire 
assets. Up to Wednesday's close, the stock had risen 7.6 percent 
this year. 
     
    ** STEREOTAXIS INC  STXS.O ,$3.29, +15.44 pct 
    The medical device maker received U.S. FDA's marketing 
approval for its device used during procedures to assess heart 
activity. The device, called Vdrive Robotic Navigation System, 
is designed to remotely control catheter during such procedures. 
 ID:nGNXVBLOIa  
     
    ** KAMADA LTD  KMDA.O , $5.79, -19.13 pct 
    The Israel-based drugmaker's experimental drug to treat an 
inherited condition that raises the risk of lung and liver 
disease failed in a mid-stage study. The drug, Inhaled Alpha-1 
Antitrypsin, did not show a statistically significant 
difference, compared with a placebo. Glassia, an intravenous 
version of the drug, is already being marketed by Baxter Inc 
 BAX.N  in the United States.  ID:nBw1fT2VCa  
         
    ** CIENA CORP  CIEN.N , $18.89, -7.67 pct 
    The network equipment forecast fourth quarter revenue of 
$570 million-$610 million, below the average analyst estimate of 
$628.9 million. The company said it expects fourth quarter 
adjusted gross margin in the high 30s to low 40s percent range. 
 ID:nBw82Yldha  
     
    ** MITEK SYSTEMS INC  MITK.O , $3.5, +47.68 pct 
    The mobile imaging software maker agreed on Wednesday to 
settle all pending litigation with financial services group USAA 
over five of its patents relating to image capture on mobile 
devices. Mitek's lawsuit filed in 2012 also included allegations 
of misappropriation of trade secrets, breach of contract and 
fraud. The company said neither party will make any payment or 
admit liability on any claims.  ID:nGNXVBLNZa  
     
    ** GOPRO INC  GPRO.O , $54.2701, -4.55 pct 
    J.P. Morgan cut its rating on the stock of the maker of  
camera makers to "neutral" from "overweight", saying the stock 
is trading above its price target of $51. The median price 
target on stock is $46.50. Of nine analysts covering the stock, 
2 have "buy" ratings and 7 have "hold" or equivalent ratings. Up 
to Wednesday's close, the stock had risen 137 percent since its 
debut on June 26. 
     
    ** MEMORIAL PRODUCTION PARTNERS LP  MEMP.O , $22.38, -3.37 
pct 
    The oil and gas producer said it would offer 13 million 
common units; representing 18 percent of outstanding shares as 
of Wednesday. The company said it plans to use net proceeds from 
the underwritten public offering to pay down debt. 
     
    ** MATTRESS FIRM HOLDING CORP  MFRM.O , $63.71, +12.15 pct 
    The company said it would buy privately held bedding 
retailer The Sleep Train Inc for $425 million, its sixth and 
largest acquisition announced in the past year, to expand its 
presence on the West Coast.  ID:L3N0R53TS  
     
    ** TIBCO SOFTWARE INC  TIBX.O , $22.22, +5.61 pct 
    The business software maker said it was reviewing its 
strategic and financial alternatives as part of a process 
initiated by its board on Aug. 16 to maximize shareholder value. 
 The company has formed a special committee of independent 
directors to undertake the review. 
     
    ** MATRIX SERVICE CO  MTRX.O , $22.959, -21.18 pct 
    The engineering and construction services provider's fourth 
quarter revenue and profit missed analysts' estimates due to a 
47 percent rise in costs. Revenue from the company's oil, gas 
and chemical segment, which provides construction and 
maintenance services to North American oil producers, fell about 
22 percent to $52.1 million. Matrix also forecast full-year 
earnings below estimates.  ID:nL3N0R45R9  
     
    ** PVH CORP  PVH.N , $128.37, +9.60 pct 
    The apparel company's second quarter profit beat 
expectations, helped by strong sales of its Tommy 
Hilfiger-branded clothes. PVH cut its full-year revenue forecast 
to $8.4 billion from $8.5 billion, but it reaffirmed its profit 
forecast.  ID:nL3N0R45L7  
 
 (Compiled by Rohit T.K. in Bangalore; Editing by Joyjeet Das) 
 ((rohit.kumara@thomsonreuters.com; within U.S. +1 646 223 8780, 
outside U.S. +91 80 6749 1130; Reuters Messaging: 
rohit.kumara.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS USA STOCKS/PULSE