Post Market News

Stocks that were active in the U.S. trading on Thursday include Cisco Systems Inc. (NASDAQ:CSCO), Infinity Pharmaceuticals Inc. (NASDAQ:INFI), Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR), Tesla Motors Inc. (NASDAQ:TSLA) and Kohl’s Corporation (NYSE:KSS).

Post Market News

Market Levels

  • U.S.: Dow Jones: 15,231.53 (-0.29%), S&P 500: 1,650.42 (-0.50%), Nasdaq: 3,465.12 (-0.18%)
  • World Markets: Shanghai: 2,251.81 (+1.21%), Nikkei 225: 15,037.24 (-0.39%), Hang Seng Index: 23,082.68 (+0.17%), TSEC: 8,390.05 (+0.86%), FTSE 100: 6,687.80 (-0.09%), EURO STOXX 50: 2,806.70 (-0.10%), BSE Sensex: 20,247.33 (+0.17%)
  • Metals: Gold: $1396.20 (0.00%), Silver: $22.66 (0.00%), Platinum: $1485.60 (-0.34%)
  • Currency: EUR/USD: 1.2897 (+0.16%), USD/JPY: 102.23 (-0.08%), GBP/USD: 1.5301 (+0.53%), USD/CAD: 1.0164 (-0.11%), USD/CNY: 6.1489 (+0.05%), AUD/USD: 0.9844 (-0.29%)
  • 10 year U.S. Treasury: 1.87% (-0.03), 30 year U.S. Treasury: 3.09% (-0.03)

Market & Economy Update

Data showed today that jobless claims rose 32,000 to 360,000 for the week ended May 11, indicating an uncertain economic recovery. Stock markets declined today after a Federal Reserve official said that the central bank could wind down its asset purchase program as early as this summer. The Dow Jones Industrial Average fell 42.47 points to 15,233.22, the S&P 500 Index declined 8.31 points to 1,650.47, while Nasdaq was down 6.38 points to 3,465.24.

Stocks In Focus

Cisco Systems Inc. (NASDAQ:CSCO)

The networking equipment maker reported third quarter earnings that exceeded Wall Street estimates. Cisco said revenues from all four business divisions showed strong growth. The company earned 51 cents a share on revenues of $12.22 billion. Analysts polled by Thompson Reuters were expecting 49 cents in earnings and $12.18 billion in revenues. Cisco also issued upbeat guidance for the current quarter. Shares soared 12.54 percent to close the session at $23.87 a share.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

On Wednesday, the leukemia drug competitors of Infinity posted strong data releases. Infinity announced it will present its first stage clinical data for its IPI-145 drug during the American Society of Clinical Oncology (ASCO) meeting between May 1 and June 4. Analysts and investors are getting skeptical ahead of the tolerability and safety data for the drug. Investors worry that the drug may not outshine competitors. Shares plunged 22.65 percent to end trading a $24.32.

Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR)

The Cambridge, MA-based pharmaceutical company gave a presentation yesterday at the Bank of America investing conference. Aegerion has received FDA approval for its Juxtapid drug that can be used to treat a genetic disease causing heart attacks in young people. Today, Deutsche Bank raised its price target for Aegerion from $52 to $85. Shares roared 31.37 percent to close the session at $61.70.

Tesla Motors Inc. (NASDAQ:TSLA)

The electric car maker has announced it will raise over $830 million in a stock and debt offering. Part of the proceeds will be used to repay debts of $452.4 million to the U.S. Department of Energy. Tesla had earlier planned to raise $450 million through a convertible bond offering, which the company increased to $525 million. Tesla chief Elon Musk has committed to invest $100 million. Shares rose 8.67 percent to $92.20.

Kohl’s Corporation (NYSE:KSS)

The department store operator reported better than expected first quarter results due to higher margins. The company reported a profit of 66 cents per share compared to the Wall Street estimate of 56 cents. However, revenues were slightly lower than expectations. Kohl’s also issued optimistic guidance for the current quarter. Shares rose 4.73 percent to close the session at $51.49.