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Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
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BUZZ-U.S. Stocks on the Move-BP, Christopher & Banks, retail stocks

Thu, 04th Sep 2014 17:33

(For faster updates on individual market-movers, Eikon usersplease use search string "STXBZ US"; for more market insights,including options activity, ; for the Day Aheadnewsletter, http://link.reuters.com/mex49s; for the Morning NewsCall newsletter, http://link.reuters.com/nex49s)

U.S. stocks climbed on Thursday after the European CentralBank cut interest rates and announced a new credit plan, and asa flurry of data indicated the U.S. economy was steadilyimproving. The Dow Jones industrial average was up 0.25percent at 17,120.7, the S&P 500 was up 0.26 percent at2,006.01 and the Nasdaq Composite was up 0.64 percent4,601.64.

** BP PLC, $45.037, -5.60 pct

BP was "grossly negligent" for its role in the 2010spill in the Gulf of Mexico, a U.S. district judge said onThursday in a ruling that could add billions of dollars in finesto the more than $42 billion in charges taken so far for theworst offshore disaster in U.S. history.

** CHRISTOPHER & BANKS CORP, $10.68, +11.37 pct

The women's apparel retailer reported better-than-expectedQ2 profit, helped by higher same-store sales. Same-store salesrose 2.6 percent due to new fashion merchandise and marketingactivities.

** COSTCO WHOLESALE CORP, $124.75, +2.80 pct

** L BRANDS INC, $64.82, +1.77 pct

** J C PENNEY CO INC, $11.1, +4.52 pct

Costco and L Brands reported better-than-expected Augustsame-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 salesdata.

** AMAZON.COM INC, $347.35, +2.46 pct

Sanford C. Bernstein raised its price target on the stock ofthe online retailer to $450 from $360. "Amazon has built abetter, more cost-effective retail model than the vast majorityof brick-and-mortar retailers," Bernstein analysts wrote in anote. The median price target on stock is $400, according toThomson Reuters data.

** YINGLI GREEN ENERGY HOLDING CO LTD, $3.63, +5.52pct

** JINKOSOLAR HOLDING CO LTD, $32.11, +2.39 pct

** TRINA SOLAR LTD, $14.2, +2.53 pct

Cowen and Co analysts "continue to see solid growth" for theindustry and say China remains the main swing factor."Distributed generation segment in China is starting to showsigns of life as subsidies are rolled out," they wrote in a noteto clients on Wednesday. The analysts forecast solar capex of$3.1 billion in 2014, up 105 percent from 2013. Up toWednesday's close, the MAC Global Solar Energy Index was up more than 27 percent this year.

** TANGOE INC, $13.26, -6.62 pct

Barclays cut its rating on the telecommunication softwarecompany's stock to "equal weight" from "overweight", making itthe only brokerage among six to not have a "buy" or higherrating on the stock. Wall Street's implied revenue growthacceleration for the company in the second half looksparticularly challenging, Barclays' analysts said.

"We and investors have been waiting for a re-acceleration ofthe business for several quarters and we believe this isincreasingly turning Tangoe into a wait-and-see story ... whichwill likely keep the shares at suppressed levels".

Barclays also cut its price target to $15 from $22, thelowest among six brokerages. The median price target on stock is$19, down from $22 a month back, according to Thomson Reutersdata.

** ABM INDUSTRIES INC, $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 ourstrategic focus on key verticals should continue to drive salesgrowth," Chief Executive Henrik Slipsager says in statement.

The stock reported its largest intraday percentage gainsince November 2011 and is one of top gainers on New York StockExchange on Thursday.

** ARADIGM CORP, $9.55, +7.42 pct

The U.S. FDA gives the specialty pharmaceuticals company'slead drug fast track status, which expedites reviews of drugsintended to treat serious conditions with little or no treatmentoptions. The drug, pulmaquin, is being tested in late-stagestudies to treat non-cystic fibrosis bronchiectasis.

** FLEXION THERAPEUTICS INC, $14.3999, +12.32 pct

The specialty pharmaceutical company announced on Wednesdaythat the FDA had allowed it to accelerate the timeline of itslead experimental drug, which aims to treat osteoarthritis ofthe knee. The decision allows company to complete development ofdrug, FX-006, by late next year, and potentially file formarketing approval in early 2016.

"Product launch could potentially be moved up from late 2017to early 2017," Wells Fargo analyst Michael Faerm said.

** AEROVIRONMENT INC, $31.52, -6.33 pct

The drone maker reported a first-quarter loss of 16 centsper share, wider than the average analysts' estimate of 11cents, according to Thomson Reuters I/B/E/S

** TASER INTERNATIONAL INC, $17.94, +7.17 pct

The stun gun maker received multiple orders from theCleveland police department for its Taser brand smart weapons.The company did not disclose the financial terms.

The stock had gained about 35 percent since Aug. 8, a daybefore fatal shooting in Ferguson, Missouri, through Wednesday.

** METHODE ELECTRONICS INC, $39.11, +14.16 pct

The electronic component maker said it expects full-yearprofit of $2.10-$2.20 per share on revenue of $870 million-$885million, up from prior forecast of a profit of $1.85-$2 pershare on revenue of $835 million-$860 million. MethodeElectronics reported a better-than-expected first quarterresults, helped by higher sales and better margins in itsautomotive unit.

The company's shares rose 16.5 percent to a 14-year-high of$40.

** IRONWOOD PHARMACEUTICALS INC, $12.26, -5.62 pct

Cowen & Co lowered its rating on the drugmaker's stock to"market perform" from "outperform", citing recent physicianfeedback on Ironwood's constipation drug, Linzess. The brokeragealso slashed its price target to $10.50 from $16.00, saying itsconsultants believe adoption of Linzess by general practitionerswill be slow.

** NORTHSTAR REALTY FINANCE CORP, $18.3, -2.92 pct

The real estate investment trust priced its offering of 45million shares at $18.40 per share, a discount of 2.4 percent tostock's Wednesday close. The offering represents 22.7 percent ofoutstanding shares as of Aug. 8.

The stock is most traded on New York Stock Exchange onThursday. Deutsche Bank Securities Inc will borrow and sell 22.5million shares to underwriters in the offering.

** SHOE CARNIVAL INC, $19.86, -10.38 pct

The footwear retailer reported lower-than-expected secondquarter sales and profit as fewer customers visited its storesand expenses rose. Its profit has now missed estimates for thelast three quarters. The company forecast third quartercomparable-store sales to either decline up to 1 percent or growup to 1 percent.

Susquehanna Financial Group analysts cut price target to $24from $25 on the stock which had fallen 24 percent this year upto Wednesday's close.

** SOLARCITY CORP, $70.8301, +4.59 pct

The solar panel installer said it would open 20 newoperations centers in seven U.S. states. The company, backed byTesla Motors Inc founder Elon Musk, says new centersexpected to create more than 600 additional jobs.

** BAZAARVOICE INC, $8.01, +6.80 pct

B. Riley & Co raises price target on stock of the softwaremaker to $10 from $9.75, saying net new client additions in Q1were significantly higher than it had estimated.

Bazaarvoice, which provides businesses online and socialmedia tools to interact with customers, reportedhigher-than-expected Q1 revenue and smaller-than-expected losson Wednesday

** VERIFONE SYSTEMS INC, $35.58, +3.01 pct

The credit card swipe machine maker raised full-year revenueforecast for the third time, encouraged by strong sales ofdevices that can accept chip-embedded credit cards. VeriFonealso raised full-year profit forecast and reportedbetter-than-expected third quarter revenue.

The company is benefiting as U.S. retailers upgrade theirpoint-of-sale terminals to systems compatible with more securecredit cards in the wake of several data breaches. Up toWednesday's close, the stock had risen nearly 30 percent thisyear.

** ARLINGTON ASSET INVESTMENT CORP, $27.2, -4.19 pct

The mortgage investor said it was offering 2.75 millionshares of Class A common stock - 14 percent of its totaloutstanding shares - at $27.61 each, a 2.7 pct discount toWednesday's close.

Arlington said it plans to use the proceeds to acquireassets. Up to Wednesday's close, the stock had risen 7.6 percentthis year.

** STEREOTAXIS INC,$3.29, +15.44 pct

The medical device maker received U.S. FDA's marketingapproval for its device used during procedures to assess heartactivity. The device, called Vdrive Robotic Navigation System,is designed to remotely control catheter during such procedures.

** KAMADA LTD, $5.79, -19.13 pct

The Israel-based drugmaker's experimental drug to treat aninherited condition that raises the risk of lung and liverdisease failed in a mid-stage study. The drug, Inhaled Alpha-1Antitrypsin, did not show a statistically significantdifference, compared with a placebo. Glassia, an intravenousversion of the drug, is already being marketed by Baxter Inc in the United States.

** CIENA CORP, $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 quarteradjusted gross margin in the high 30s to low 40s percent range.

** MITEK SYSTEMS INC, $3.5, +47.68 pct

The mobile imaging software maker agreed on Wednesday tosettle all pending litigation with financial services group USAAover five of its patents relating to image capture on mobiledevices. Mitek's lawsuit filed in 2012 also included allegationsof misappropriation of trade secrets, breach of contract andfraud. The company said neither party will make any payment oradmit liability on any claims.

** GOPRO INC, $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 stockis trading above its price target of $51. The median pricetarget on stock is $46.50. Of nine analysts covering the stock,2 have "buy" ratings and 7 have "hold" or equivalent ratings. Upto Wednesday's close, the stock had risen 137 percent since itsdebut on June 26.

** MEMORIAL PRODUCTION PARTNERS LP, $22.38, -3.37pct

The oil and gas producer said it would offer 13 millioncommon units; representing 18 percent of outstanding shares asof Wednesday. The company said it plans to use net proceeds fromthe underwritten public offering to pay down debt.

** MATTRESS FIRM HOLDING CORP, $63.71, +12.15 pct

The company said it would buy privately held beddingretailer The Sleep Train Inc for $425 million, its sixth andlargest acquisition announced in the past year, to expand itspresence on the West Coast.

** TIBCO SOFTWARE INC, $22.22, +5.61 pct

The business software maker said it was reviewing itsstrategic and financial alternatives as part of a processinitiated by its board on Aug. 16 to maximize shareholder value. The company has formed a special committee of independentdirectors to undertake the review.

** MATRIX SERVICE CO, $22.959, -21.18 pct

The engineering and construction services provider's fourthquarter revenue and profit missed analysts' estimates due to a47 percent rise in costs. Revenue from the company's oil, gasand chemical segment, which provides construction andmaintenance services to North American oil producers, fell about22 percent to $52.1 million. Matrix also forecast full-yearearnings below estimates.

** PVH CORP, $128.37, +9.60 pct

The apparel company's second quarter profit beatexpectations, helped by strong sales of its TommyHilfiger-branded clothes. PVH cut its full-year revenue forecastto $8.4 billion from $8.5 billion, but it reaffirmed its profitforecast. (Compiled by Rohit T.K. in Bangalore; Editing by Joyjeet Das)

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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