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Ross Stores Inc. said Monday that it is opening 24 Ross Dress for Less locations and seven dd’s Discounts stores across 15 states during the months of June and July. Ten stores are in the Midwest, including four in Wisconsin, a new state for the company, according to Chief Development Officer Jim Fassio. Ross Stores is on track to add 90 locations in 2016. “Over the longer term, we continue to see expansion opportunities across all of our markets, and remain confident in our ability to grow to 2,000 Ross Dress for Less and 500 dd’s Discounts locations over time,” Fassio said in a statement. Ross Stores shares are inactive in premarket trading, but up 11.3% for the past year. The S&P 500 is up 1.7% for the last 12 months.

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Smith & Wesson Holding Corp. said Monday said its accessories division, Battenfeld Technologies Inc., will buy nearly all the assets of knife and tool maker Taylor Brands LLC for $85 million. The gun maker said it would use cash on hand to make the acquisition, which it expects to close in three to six weeks. Taylor Brands’ trailing 12-month revenue was about $39 million. Smith & Wesson doesn’t expect the deal to have any effect on its results for the fiscal first quarter ending July 31. “Taylor Brands provides us with an ideal opportunity to further deliver on an important element of our strategic plan, which is to grow our Accessories Division by expanding into adjacent and complementary markets,” said Chief Executive James Debney. The stock, which tacked on 1.6% in premarket trade, has shot up 28% year to date through Friday, while the S&P 500 has gained 5.8%.

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Papa Murphy’s Holdings Inc. said Monday it is planning to serve chicken raised without antibiotics across its entire menu starting today. The company has more than 1,500 stores across the U.S. The company is joining a growing list of food providers that are switching to offering food that is free of antibiotics, as well as artificial colorings and preservatives. Shares were not yet active in premarket trade, but are down 36% in the year so far, while the S&P 500 has gained about 6%.

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Shares of Brainstorm Cell Therapeutics Inc. shot up 18% in premarket trade Monday, after the company said Phase II study of its treatment for Lou Gehrig’s disease met its objectives. The developer of stem cell therapeutics said a Phase 2 trial of NurOwn in patients with ALS (amyotrophic lateral sclerosis) met its primary objective by demonstrating that it was safe and well tolerated. The company said NurOwn also met several secondary endpoints of efficacy. The stock has gained 4.6% year to date through Friday, while the SPDR S&P Biotech ETF has tumbled 19% and the S&P 500 has gained 5.8%.

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Coach Inc. shares rose 1% in premarket trading Monday after the company was upgraded to outperform from neutral at Baird Equity Research based on findings of its latest quarterly handbag survey showing strong purchase intent. Analysts raised the price target to $50 from $45. Baird analysts believe the survey results indicate growing demand for Coach handbags in the outlet channel. After 12 quarters of comparative sales declines, the bank expects comps to turn positive in the fiscal fourth quarter and remain in the positive low-single-digit range through fiscal 2017. “We believe improving demand among outlet shoppers (still a majority of business) would represent a key catalyst to drive shares higher from here,” the bank’s note said. “Footwear, men’s and Stuart Weitzman remain key growth drivers beyond the core handbag category.” Baird surveyed 500 women in the U.S., finding that 43% of women indicated “yes” or “maybe” when asked if they would purchase a handbag in the next three to six months, down from 44% last year. But the survey found purchase intent rose for both Coach and Vera Bradley Inc. . This is the second consecutive share gain for Coach, while other brands including Michael Kors Holdings Ltd. and Kate Space & Co. lost share of purchase intent. Coach shares up 32.8% for the past year while the S&P 500 is up 1.7% for the same period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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AstraZeneca’s lung cancer treatment met its primary endpoint in a phase 3 trial, the company said early Monday. The drug, TAGRISSO, was tested on more than 400 patients with certain types of non-small cell lung cancers as a second-line treatment, with the results compared to standard platinum-based doublet chemotherapy. AstraZeneca is trading slightly higher in pre-market trade. The stock rose 8.2% over the last three months, compared with a 3.2% rise in the S&P 500 .

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Wells Fargo & Company announced Monday that it will be consolidating its London team into a new building it has purchased at 33 Central, King William Street. Currently, Wells Fargo has 850 employees spread across four locations in the city. The move to the new building, which has 227,000 square feet, is expected to begin in 2018. The move comes after the UK vote to leave the European Union, which may cause US banks to lose their European “passport,” which allows them to operate across the trading block without requiring separate regulatory oversight. Wells Fargo shares are nearly flat in premarket trading, but down 12.2% for the year so far. The S&P 500 is up 5.8% for the year-to-date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SolarCity Corp. said Monday that it raised $345 million in tax equity from four partners since June to help fund new solar projects. The solar power provider said it increased its debt aggregation facility by $110 million to $760 million, and expanded its solar renewable energy credit financing facility in an effort to reduce financing costs. The company said it has now raised more than $1.5 billion in project financing so far this year. The facilities will cover the cost of new equipment and installations. SolarCity is currently evaluating a buyout bid by Tesla Motors Inc. . Elon Musk is Chairman of SolarCity and Tesla. SolarCity’s stock, which slipped 0.2% in light premarket trade, has tumbled 51% year to date through Friday, while the S&P 500 has gained 5.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News