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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Valeant soft on Sprout, NetApp up on guidance, Lumber Liquidators higher on hire

Lawrence Lewitinn
·Lawrence Lewitinn

Your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.

Valeant Pharmaceuticals (VRX)
Valeant is falling after the company announced it was buying Sprout Pharmaceuticals for $1 billion. Earlier this week, Sprout received approval from the FDA for a drug called Addyi, which has been dubbed "the female Viagra". Valeant has been in acquisition mode this year. A few months ago, it bought Salix Pharmaceuticals for $11 billion. Despite Thursday's drop, Valeant shares are up 66% this year.

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NetApp (NTAP)
NetApp is up even though it just reported a loss in its most-recent quarter a series of layoffs. The internet storage company saw a 10% drop in revenue and $30 million in losses. It is also letting go of 500 workers. But it reported non-GAAP earnings of 29 cents a share, beating analyst expectations. NetApp also gave positive guidance for this current quarter. However, the stock is still down almost 26% this year.

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Lumber Liquidators (LL)
Lumber Liquidators is getting a nice boost because of a new hire. The beleaguered hardwood floor seller is up after announcing it was bringing on board a new legal and compliance officer. Lumber Liquidators was hammered after a CBS News "60 Minutes" story back in March reported dangerous chemical levels in some of its China-sourced floorings. The Justice Department began seeking criminal charges and then-CEO Robert Lynch resigned. Lumber Liquidators says it no longer buys the Chinese laminate flooring but the stock is still down more than 75% this year.

 

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