A Look Into Latest Developments Surrounding Yahoo!, Kura Oncology, Kohl’s and Other Stocks

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.

Kura Skyrockets On Promising Results

One of Thursday’s largest gainers is Kura Oncology Inc (NASDAQ:KURA), which has risen by 31%, following the company’s second-quarter earnings report. The firm posted a net loss of $0.36 per share, beating the Street’s consensus by $0.02. However, what is also driving the stock up was the announcement of encouraging results from its Phase 2 clinical trial of its lead product candidate, tipifarnib, for the treatment of patients with HRAS mutation-positive solid tumors. Four founds among those we track held almost 25% of Kura Oncology Inc (NASDAQ:KURA)’s stock at the end of March.

Another Stock Down After Offering Pricing

Next up is Avinger Inc (NASDAQ:AVGR), which has tumbled more than 18% today, also following the pricing of its public offering of 8.572 million common shares at $3.50. In addition, the company gave underwriters a 30-day option to buy up to 1.285 million extra shares. Net proceeds from the offering will be used “for general corporate purposes, including working capital, capital expenditures, other corporate expenses and acquisitions of complementary products, technologies or businesses,” and possibly, the repayment of some debt, a press release assured. Four funds among those we track were long Avinger Inc (NASDAQ:AVGR), holding 5.4% of its float as of March 31.

Kohl’s Spikes On Strong Results, Guidance

Finally, there’s Kohl’s Corporation (NYSE:KSS), which spiked by more than 17% on Thursday, driven by a better-than-expected financial results and impressive guidance. Second quarter EPS of $1.22 and revenue of $4.18 billion beat the Street’s consensus by $0.19 and $20 million, respectively. For the full year, management trimmed its EPS guidance to the range of $3.80 to $4.00 from the previous range of $4.05 to $4.25, but still topped the consensus estimate of $3.83. Among the funds that we track, 27 were long Kohl’s Corporation (NYSE:KSS) at the end of the first quarter.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.