Companies in Southern Europe are looking elsewhere for funding as local lending dwindles, tapping assets in healthier regions such as Latin America and the U.S.
Jos. A. Bank Clothiers Inc.’s JOSB+13.96% shares gained 14% after the men’s apparel retailer reported second-quarter results that exceeded Wall Street’s expectations.
Molycorp MCP+13.77% rose 13% following a rating upgrade and its announcement earlier this week that it has started new heavy rare-earth concentrate operations at Mountain Pass, Calif. It also said Wednesday that it has closed its previously announced public offerings of convertible senior notes and common stock.
Sealed Air Corp. SEE+12.15% shares were up 12% after the plastic packaging company announced Chief Executive William Hickey is retiring in March 2013 and will be replaced by long-time Dow Chemical Co. DOW+0.21% executive Jerome Peribere.
Shares of ArQule ARQL-18.51% plunged 19% on safety concerns about its drug candidate tivantinib for the treatment of lung cancer. The company said Tuesday that its Japanese development partner, Kyowa Hakko Kirin Co., has temporarily suspended a Phase III clinical trial testing tivantinib in combination with the lung-cancer therapy Tarceva over concerns that some of the patients had developed interstitial lung disease
Baidu BIDU-6.24% fell 6.2% after Barclays cut its price target on the Internet company’s stock to $153.
Dycom Industries Inc.’s DY-19.07% shares retreated 19% a day after the telecommunications contractor reported fourth-quarter income and revenue below expectations.
Frontline Ltd.’s FRO-13.55% shares declined 14% after the tanker company reported a larger-than-expected second-quarter loss and forecast further disappointment in the third quarter.