U.S. stocks are on the rise on Thursday following an increase in oil prices and strong financial reports issued by retailers.
Among the stocks on the move today are Yahoo! Inc. (NASDAQ:YHOO), Amarin Corporation plc (ADR) (NASDAQ:AMRN), Kura Oncology Inc (NASDAQ:KURA), Avinger Inc (NASDAQ:AVGR) and Kohl’s Corporation (NYSE:KSS).
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Yahoo Spikes On Alibaba’s Earnings
Let’s start with Yahoo! Inc. (NASDAQ:YHOO), which has gained roughly 4% in Thursday trading, driven by the announcement of Alibaba Group Holding Ltd (NYSE:BABA)’s second-quarter financial results, which came in ahead of top and bottom line expectations (see details). Yahoo owns a 15% stake in the Chinese company, which was not affected by the former’s recent deal with Verizon Communications Inc. (NYSE:VZ). As of the end of the first quarter of 2016, 97 funds, among those we track, held long equity stakes in Yahoo! Inc. (NASDAQ:YHOO), up from 84 funds a quarter earlier. Among them was David E. Shaw’s D. E. Shaw, which last disclosed ownership of more than 19 million shares of the company.
Amarin Slips After Pricing Stock Offering
On the other hand, shares of Amarin Corporation plc (ADR) (NASDAQ:AMRN) traded down by more than 8% today, after the company priced a public offering of 21.1 million ADSs at $2.85 – well below Wednesday’s close of $3.32. The offering will close around August 16, and proceeds of $56.1 million will be likely used to advance the firm’s “REDUCE-IT cardiovascular outcomes trial and for general corporate and working capital purposes.” A total of 10 funds in our database were long Amarin Corporation plc (ADR) (NASDAQ:AMRN) at the end of March. This group included Kevin Kotler’s Broadfin Capital, which held 4.67 million shares of the company.