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Sept 19 Some U.S. stocks on the move on
** RITE AID CORP, $4.35, up 17 pct (9:42 a.m. ET)
The third-largest U.S. drugstore chain raised its fiscal
2014 profit forecast after reporting better-than-expected
quarterly results, boosted by sales of higher-margin generic
** TAKE-TWO INTERACTIVE SOFTWARE INC, $17.77, up 3
pct (9:41 a.m. ET)
Brokerage Macquarie Equities Research raised its price
target on the stock to $25 from $23 after the video game
publisher racked up $800 million in first-day sales of Grand
Theft Auto V, the fifth installment of the lucrative franchise
that went on sale across the globe on Tuesday.
Macquarie analyst Ben Schachter in the opening line of his
note said "Bottom Line - Wow! (and that is an understatement)."
** BIOMARIN PHARMACEUTICALS INC, $79.90, up 3 pct
(9:40 a.m. ET)
Roche Holding AG could buy the maker of drugs for
rare diseases for about $95 to $105 per share in a deal valued
at about $15 billion, media reports said, quoting
dealreporter.com. UBS AG will lend $5 billion to Roche
for the takeover, the reports quoted dealreporter.com as saying.
** TRANSCEPT PHARMACEUTICALS INC, $3.72, up 3 pct
(9:39 a.m. ET)
Drugmaker Retrophin Inc said it offered to buy the
rest of Transcept Pharmaceuticals shares it does not already own
for $4 per share, valuing Transcept at about $75 million.
Retrophin's offer represents an 11 percent premium to
Transcept's closing share price of $3.59 on the Nasdaq on
** PIER 1 IMPORTS, $21.30, down 10 pct (9:39 a.m.
The furniture retailer reported a second-quarter profit that
missed Wall Street estimates by 2 cents, hurt by lower customer
"Our marketing initiatives did not include appropriate
messaging around clearance and promotional activity in our
stores, or customer acquisition generally, which contributed to
lower than expected store traffic," said Chief Executive Alex
Smith in a statement.
** APPROACH RESOURCES INC $25.56, up 5 pct (9:38
The oil and gas producer said it would sell an oil pipeline
system in southern Midland basin, Texas for $210 million to
privately held JP Energy Development LP, partly to strengthen
Approach Resources' liquidity.
** GROUPON INC, $12.25, up 6 pct (9:37 a.m. ET)
Brokerage Stifel Nicolaus upgraded the online coupon
company's stock to "buy" from "hold" as it sees strength in
Groupon's core business in the U.S, and stability in key
European markets. Analyst Rohan Jordan believes continued shift
of usage toward app-based e-commerce should also work in the
** KANDI TECHNOLOGIES GROUP INC, $6.11, up 12 pct
(9:36 a.m. ET)
The maker of electric vehicles said the Chinese government
unveiled a subsidy policy for pure electric vehicles, plug-in
hybrid electric vehicles and fuel-cell battery vehicles. The
policy would be beneficial to a variety of Kandi's pure electric
vehicle projects in the country, chief executive Xiaoming Hu
** STEELCASE INC, $14.73, down 6 pct (9:36 a.m. ET)
The office furniture maker reported second-quarter results
below analysts' expectations, mainly hurt by the economic crisis
in Western Europe. The company said the Europe, Middle East, and
Africa (EMEA) region underperformed even as the Americas region
contributed a strong operating margin.
** ISIS PHARMACEUTICALS, $34.18, up 8 pct (9:35
The drugmaker said follow-up preliminary data from an
early-stage trial on its experimental drug to treat a rare
genetic neuromuscular disease showed improvements in muscle
function tests in children.
Children with spinal muscular atrophy who received the two
highest doses of the drug (6 mg and 9 mg) continued to show
improvements in muscle function tests up to 14 months after a
single injection of the drug codenamed ISIS-SMNRx.
Children suffering from spinal muscular atrophy often never
achieve the simplest motor milestones like walking, crawling, or
** PACIFIC COAST OIL TRUST, $16.72, down 7 pct
(9:35 a.m. ET)
The statutory trust formed by oil and gas producer Pacific
Coast Energy Co LP (PCEC) said on Wednesday it would offer 13.5
million trust units in an underwritten public offering in PCEC's
bid to repay a portion of its debt.
** APOGEE ENTERPRISES INC, $27.74, down 6 pct (9:34
The maker of glass products reported second-quarter earnings
lower than analysts' estimates. The company also raised its
full-year earnings forecast to between 93 cents and $1 per share
from 90 cents to $1 per share. Analysts on average expect
earnings of 96 cents per share, according to Thomson Reuters
** ARMOUR RESIDENTIAL REIT, $4.20, down 4 pct (9:34
The real estate investment trust announced a monthly cash
dividend of 5 cents per share for the October-December period,
about 29 percent lower than the 7 cents per share it had
announced for the July-September period.
** SS&C TECHNOLOGIES HOLDINGS INC, $38.17, down 3
pct (9:34 a.m. ET)
The company, which makes software for financial service
providers, said on Wednesday that investment funds affiliated
with The Carlyle Group made a public offering of about 7.5
million shares of SS&C's common stock.
** FIFTH STREET FINANCE CORP, $10.10, down 4 pct
(9:33 a.m. ET)
The investment company said that it had started a public
offering of 15 million shares of its common stock. Net proceeds
from the offering would be used to repay debt, Fifth Street
** GT ADVANCED TECHNOLOGIES INC, $8.39, up 11 pct
(9:33 a.m. ET)
Brokerage UBS Investment Research raised its rating on the
solar and LED equipment maker's stock to "buy" from "neutral",
according to theflyonthewall.com.
(Compiled by Varun Aggarwal)