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Share Price: 523.30
Bid: 523.60
Ask: 523.80
Change: -1.50 (-0.29%)
Spread: 0.20 (0.038%)
Open: 524.80
High: 527.80
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BUZZ-U.S. Stocks on the Move-Wet Seal, Lakeland, Staples, Office Depot

Thu, 11th Dec 2014 12:56

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

U.S. stock index futures were up slightly on Thursday, after athree-day drop by the S&P 500 as oil prices advanced and aheadof a flurry of economic data. Dow Jones industrial averagefutures were up 0.28 percent at 17,591, S&P 500 futures were up 0.33 percent at 2,033.25 and Nasdaq 100 futures were up 0.20 percent at 4,235.5.

** STAPLES INC, Wednesday close $14.815, +10.77 pctpremarket

** OFFICE DEPOT INC, Wednesday close $6.725, +6.47pct premarket

Activist investor Starboard Value LP has bought a 6 percentstake in Staples and raised its stake in Office Depot to 10percent, in a move that could raise pressure for a combinationof the office-supply retailers, the Wall Street Journalreported, citing sources.

** WET SEAL INC, Wednesday close $0.2789, -46.93pct premarket

The women's apparel retailer said on Wednesday it may seekto restructure under provisions of the bankruptcy code if itfails to address liquidity in the near term. The company saidstrategies may include out-of-court restructurings. Wet Sealalso reported a 9 percent decline in third quarter sales.

** LAKELAND INDUSTRIES INC, Wednesday close$11.76, -10.71 pct premarket

The hazmat suit maker's third-quarter loss widened asoperating expenses rose, driven primarily by higher freight outand commissions expenses. The company said on Wednesday that themain impact from Ebola-related orders will begin to be realizedonly in the fourth quarter.

** RADIOSHACK CORP, Wednesday close $0.55, -3.64 pctpremarket

The struggling electronics retailer reported a 16 percentdrop in quarterly sales and said it was undertaking cost-cuttingactions to boost earnings by over $400 million annually.

** RESTORATION HARDWARE HOLDINGS INC, Wednesday close$86.18

The home furnishing retailer raised its full-year profit andrevenue forecasts on better-than-expected third-quarter resultsdue to higher direct sales, including online and catalog sales.

** LULULEMON ATHLETICA INC, Wednesday close $46.7

The Canadian yogawear chain reported a better-than-expectedquarterly profit as online sales jumped 27 percent. The company,which is facing increased competition in a niche market it oncedominated while grappling with executive departures andlawsuits, marginally raised its adjusted profit forecast to$1.74-$1.78 per share from $1.72-$1.77 for the year ending earlyFebruary.

** CENOVUS ENERGY INC , Wednesday close$18.58

Canada's No. 2 independent oil producer said it plans toreduce capital spending by about 15 percent in 2015 as oilprices plunge.

** GOOGLE INC, Wednesday close $528.04, +0.32 pctpremarket

Google said it was closing its news-linking service in Spainnext week due to new legislation under which publishers cancharge search engines for using their content.

** FIAT CHRYSLER AUTOMOBILES NV ,Wednesday close $11.47, -1.39 pct premarket

Shares in the company fell on Thursday as traders saidinvestors were selling the stock after buying a bond thatconverts into shares. The car maker priced a $2.5 billionmandatory convertible bond due in 2016, as well as an offeringof 87 million shares at $11 dollar each.

** EBAY INC, Wednesday close $55.27

The online retailer is mulling plan to cut thousands of jobsearly next year, as it readies to spin off its PayPal unit, theWall Street Journal reported, citing people familiar with thecompany's thinking.

** RADIAN GROUP INC, Wednesday close $16.89

** ASSURED GUARANTY LTD, Wednesday close $25.5

The biggest U.S. private mortgage insurer is close to a saleof its financial guaranty business to Assured Guaranty foraround $800 million, according to people familiar with thematter.

** AMERICAN INTERNATIONAL GROUP INC, Wednesday close$54.84

** PRUDENTIAL FINANCIAL INC, Wednesday close $86.38

The U.S. House of Representatives on Wednesday approved abill giving big insurance companies such as AmericanInternational Group and Prudential Financial relief from part ofthe 2010 Dodd-Frank oversight law.

** WAL-MART STORES INC, Wednesday close $82.98

An administrative law judge found Wal-Mart threatenedemployees trying to organize workers at two stores inCalifornia, in a victory for workers' rights groups challenginglabor practices at the retail giant.

Separately, Wal-Mart said it discovered discrepancies inpricing and inventory at its China operations in 2011 and hassince reinforced its compliance policies in the country.

** WALGREEN CO, Wednesday close $68.15

Walgreen said Chief Executive Greg Wasson would retire andhand the reins on an interim basis to the head of Alliance BootsHoldings Ltd, a move that follows a series of eventsthat has tested investor confidence in the U.S. drugstore chain.

** BURGER KING, Wednesday close $34.62

** TIM HORTONS INC , Wednesday close $84.67

The fast food chain will avoid hundreds of millions ofdollars in U.S. taxes if, as planned, it completes its pendingbuyout of Canadian coffee-and-doughnuts chain Tim Hortons, a taxactivist group said on Thursday.

** DISH NETWORK CORP, Wednesday close $70.56

The No. 2 U.S. satellite TV company does not want to includebroadcast channels in the basic package for its planned onlineTV service, the Wall Street Journal reported on Wednesday,citing people familiar with the matter.

** HILTON WORLDWIDE HOLDINGS INC, Wednesday close$25.99

** BLACKSTONE GROUP LP, Wednesday close $34.03, -0.32pct premarket

The hotel operator is in talks to buy four properties fromBlackstone Group and others for deferring tax payments from thesale of its Waldorf Astoria hotel in New York, Bloombergreported.

** SHIRE PLC , Wednesday close $207.73

Shire's chief executive said he sees no urgency to spend thewindfall the Dublin-based drugmaker received when AbbVie Inc walked away from a $55 billion takeover bid earlierthis year.

** GILEAD SCIENCES INC, Wednesday close $104.84

Philadelphia's transportation authority has filed a classaction lawsuit accusing Gilead Sciences of charging "exorbitant"prices for its blockbuster hepatitis C drug Sovaldi.

** SANOFI SA , Wednesday close$45.86, +1.79 pct premarket

Sanofi's new CEO will continue its strategy of diversifyingbeyond new drug development, possibly through acquisitions, theFrench drugmaker's interim chief executive said.

** SONY CORP , Wednesday close $20.79

Sony should fear China's censors almost as much as rivalMicrosoft Corp as it prepares to unveil the price andrelease date of its PlayStation 4 gaming console in the world'sthird-largest gaming market.

** MOMO INC, Wednesday close $0

** ALIBABA GROUP HOLDING LTD, Wednesday close$103.88, +0.76 pct premarket

The Chinese mobile chat app firm, backed by Alibaba Group,that will list on the Nasdaq on Thursday, said its chiefexecutive will fight allegations of misconduct and corruptionmade by his former employer.

** AMAZON.COM INC, Wednesday close $305.84, +0.09pct premarket

The online retailer is considering expanding its same-daydelivery program globally, recent job listings show, underliningthe importance of fast shipping to its ability to compete withthe instant gratification offered by brick-and-mortar stores.

** MICROSOFT CORP, Wednesday close $46.9, +0.04 pctpremarket

The world's largest software company expects to have its newWindows 10 operating system on the market by autumn 2015,slightly later than previous comments had suggested.

** BP PLC , Wednesday close $37.74, +0.19 pctpremarket

John Wood Group Plc, a British energy servicescompany, said it had secured a $750 million, five-year contractfrom BP for engineering, procurement and construction servicesin Grangemouth, Scotland.

** UNITED TECHNOLOGIES CORP, Wednesday close $113.5

The change atop United Technologies has set off speculationthe U.S. conglomerate may eventually shake up its diverseindustrial businesses, including possibly divesting its Sikorskyhelicopter unit.

** LOCKHEED MARTIN CORP, Wednesday close $187.91

Canada will stay part of Lockheed Martin's F-35 Joint StrikeFighter program while a decision is made on whether to actuallybuy the plane, the government said on Wednesday.

** HUNTINGTON INGALLS INDUSTRIES INC, Wednesdayclose $104.21, +0.76 pct premarket

Mike Petters, chief executive of Huntington Ingalls, said onWednesday he remained committed to a longer-term view of theU.S. shipbuilder's business prospects, despite growing marketpressures to focus on short-term gains. (Compiled by Lehar Maan in Bengaluru; Editing by SimonJennings)

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UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
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Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
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AssetCo PLCAGM
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British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
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Serco Group PLCAGM
Synectics PLCAGM
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Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
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Everest Global PLCAGM
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Helios Towers PLCAGM
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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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