On The Fly: Top Stock Stories For Thursday, Dec, 8

Shares of lululemon (LULU) jumped 15% after the yoga and leisure apparel retailer reported quarterly results that beat expectations, helped by higher than expected gross margins and sales.

Meanwhile, Sears Holdings (SHLD) posted its fifth straight quarterly loss and said it will continue to close its less lucrative stores in order to help restore profitability to the company. However, an executive noted that he "cannot guarantee" when profitability will occur. Sears stock, which was lower in early trading, ended the day about 5% higher.

Major movers 

Among the notable gainers was Tailored Brands (TLRD), which leaped almost 40% after the owner of the Men's Wearhouse and Jos. A. Bank brands reported better than expected results for the quarter. Also higher was Advanced Micro Devices (AMD), which gained 8% after Bank of America Merrill Lynch analyst Vivek Arya upgraded the stock two notches to Buy from Underperform, saying that PC gaming and artificial intelligence/deep learning Industries are still in the early stages and the company is a vendor that can challenge incumbents Intel (INTC) and NVIDIA (NVDA) for market share.

Additionally, Time Inc. (TIME) rose about 7.75% after The Wall Street Journal reported that the company has hired Morgan Stanley (MS) and Bank of America (BAC) to help field acquisition or partnership interest after it received overtures from a group of media investors.

Among the noteworthy losers was Horizon Pharma (HZNP), which dropped 22.5% after the company announced that the Phase 3 STEADFAST trial evaluating Actimmune for the treatment of Friedreich's ataxia did not meet its primary endpoint.

Also lower were casino operators MGM Resorts (MGM), Wynn Resorts (WYNN), Las Vegas Sands (LVS) and Melco Crown (MPEL), which fell by 4% to as much as almost 14% after a media report emerged saying that China's government is cutting the daily ATM withdrawal limit in the gambling center of Macau to fight corruption and stem currency outflows from the mainland. The policy change is understood to be in reaction to attempts by illicit money movers to circumvent Beijing's annual cap on UnionPay card holder withdrawals, according to The South China Morning Post.

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