12 Min Read
April 26 (Reuters) - Some U.S. stocks to watch on Friday:
Stocks dipped at the open as data showed gross domestic product expanded at a slower-than-expected rate in the first quarter. The Dow Jones industrial average was down 5.60 points, or 0.04 percent, at 14,695.20. The Standard & Poor's 500 Index was down 1.83 points, or 0.12 percent, at 1,583.33. The Nasdaq Composite Index was down 6.20 points, or 0.19 percent, at 3,283.79.
** PFIZER INC, $29.02, down 4.1 pct (0930 ET)
European regulators declined to approve marketing of Pfizer's new rheumatoid arthritis treatment Xeljanz, citing the risks of the drug compared with its potential benefit, the company said on Thursday.
** APPLE INC, $409.46, down 0.3 pct (0931 ET)
Samsung Electronics Co Ltd grabbed more smartphone market share from arch rival Apple in the latest quarter, with sales of its phones jumping to account for one third of the global market, research firm IDC said.
** CHEVRON CORP, $118.85, up 0.3 pct (0932 ET)
The second-largest U.S. oil company posted a 4.5 percent decline in quarterly profit on Friday, pinched by weaker oil prices and work at its U.S. refineries.
** AMAZON.COM INC, $265.42, down 3.3 pct (0934 ET)
Revenue growth slowed in the first quarter as the world's largest Internet retailer struggled overseas, but margins jumped on lower shipping expenses and the expansion of more profitable new businesses.
** STARBUCKS CORP, $59.88, down 1 pct (0934 ET)
It reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast. But revenue was slightly below analysts' estimates.
** TYCO INTERNATIONAL LTD, $32.74, up 5.3 pct (0935 ET)
The fire safety and security systems maker reported an adjusted quarterly profit ahead of Wall Street estimates as underlying margins rose.
** ABBVIE INC, $45.30, up 2.3 pct (0935 ET)
AbbVie, the pharmaceuticals business spun off in January by Abbott Laboratories, reported slightly better than expected quarterly results, fueled by surging sales of its Humira treatment for rheumatoid arthritis.
** WEYERHAEUSER CO, $31.88, up 1.6 pct (0936 ET)
The forest products company reported a first-quarter net profit that more than tripled due to a recovery in the U.S. housing market, and said it expects higher volumes for all its wood products for the current quarter.
** THERAVANCE INC, $34.71, up 12 pct (0936 ET)
The company plans to split into two publicly traded U.S. companies, separating some of its most advanced respiratory drugs under development with GlaxoSmithKline Plc from its other biopharmaceutical operations.
** USG CORP, $26.22, down 1 pct (0936 ET)
RBC Capital Markets cut its rating on the building products maker's stock to "outperform" from "top pick," and said though it continues to have a favorable view of the company's high-margin ceiling grid business, demand would remain choppy.
** D.R. HORTON INC, $25.97, up 5.8 pct (0937 ET)
** LENNAR CORP, $42.15, up 0.5 pct (0937 ET)
D.R. Horton, the No.1 U.S. home builder reported a 173 percent jump in quarterly profit and said the spring selling season was off to a strong start. Record-low interest rates and rising rents have prompted Americans to buy homes, leading to shortage of new houses.
Homebuilder Lennar's stock was also up on the news.
** PULTEGROUP INC, $20.95, up 0.7 pct (0937 ET)
The No. 2 U.S. homebuilder reported a better-than-expected quarterly profit on Thursday as its strategy of selling fewer homes at higher prices paid off. [ID;nL3N0DC8SL]
** CIRRUS LOGIC INC, $18.03, down 8 pct (0938 ET)
The audio chipmaker on Thursday reported fourth-quarter results above analysts' expectations, but brokerage Needham & Company cut its target price on the company's stock, citing lower revenue from Apple than "previously anticipated."
** SIMON PROPERTY GROUP, $175.03, down 0.5 pct (0938 ET)
The biggest U.S. owner of malls and outlet centers said a key earnings measure rose 14.4 percent in the first quarter, helped by higher rents and sales at its malls and outlet centers, prompting the company to raise its forecast for the year.
** LAZARD LTD, $32.89, down 0.8 pct (0938 ET)
The investment bank reported a 40 percent fall in first-quarter profit, earning less from its financial advisory business in a subdued merger and acquisitions market.
** TRANSCANADA CORP , $48.28, down 1 pct (0939 ET)
Canada's largest pipeline company reported a 27 percent rise in first-quarter profit, and said it now expects its Keystone XL pipeline to be in service in the second half of 2015.
** BAIDU INC, $85.39, down 7.5 pct (0939 ET)
China's largest search engine will increase marketing expenditures for the rest of the year to counter competition from rival Qihoo 360 Technology, which may further put the brakes on profit growth.
** COINSTAR INC, $58.50, up 6.3 pct (0939 ET)
Coinstar raised its full-year adjusted profit forecast ON Thursday as it bets on a slate of movies scheduled to be released in the third quarter to boost its Redbox video rental business.
** PERKINELMER INC, $30.31, down 12 pct (0940 ET)
The maker of scientific instruments, diagnostic equipment and environmental safety monitoring products on Thursday reported lower-than-expected first-quarter profit and decreased its full-year forecast as difficult economic conditions and a stronger dollar hurt sales in Europe and Japan.
** ECHO GLOBAL LOGISTICS INC, $18.29, down 4 pct (0940 ET)
The logistics company cut its 2013 earnings forecast to between 78 and 84 cents per share from between 82 and 90 cents, and lowered its revenue outlook to $900 million to $940 million from $940 million to $980 million.
Analysts on average were expecting earnings of 85 cents per share on revenue of $960.6 million, according to Thomson Reuters I/B/E/S.
** J.C. PENNEY CO, $16.00, up 5 pct (0940 ET)
Billionaire investor George Soros reported a 7.9 percent passive stake in the struggling department store chain on Thursday.
** FREESCALE SEMICONDUCTOR LTD, $15.49, up 6.5 pct (0941 ET)
The chipmaker reported a much smaller-than-expected first-quarter loss and forecast upbeat second-quarter revenue, as demand from its Chinese customers improved.
** EXPEDIA INC, $60.92, down 6.2 pct (0941 ET)
The online travel agency reported a higher-than-expected first-quarter adjusted profit, but warned of a lower full-year profit from its discount travel website Hotwire due to higher car rental rates and increased competition.
** MICROS SYSTEMS INC, $42.10, down 3.3 pct (0941 ET)
The company, which makes data management systems for retailers and hotel chains, reported much weaker-than-expected third-quarter results, as hardware sales grew a lacklustre 2 percent and software sales declined. Micros also cut its full-year outlook.
** VERISIGN INC, $44.29, up 4 pct (0942 ET)
The issue of .com and .net Internet domains names reported a better-than expected quarterly profit as revenue rose 15 percent. Excluding items, the company earned 58 cents per share, on revenue of $236 million. Analysts expected an adjusted profit of 54 cents per share and revenue of 232.6 million, according to Thomson Reuters I/B/E/S.
** LDK SOLAR CO LTD, $1.26, down 1.6 pct (0944 ET)
The indebted Chinese solar panel maker on Friday said it would sell 25 million shares to Fulai Investments Ltd for about $26 million to fund its operations. Fulai will pay $1.03 per share, a discount of about 20 percent to LDK's Thursday close on the New York Stock Exchange.
** INTERNATIONAL GAME TECHNOLOGY, $17.04, down 1.5 pct (0944 ET)
The slot-games maker on Thursday reported better-than-expected second-quarter results on higher revenue from its social gaming business, which more than doubled from a year earlier. The company, whose stock touched a year-high yesterday, also raised its full-year 2013 forecast for adjusted profit, prompting J.P. Morgan and another brokerage to raise their target price on the company's stock.
** ALTERA CORP, $32.00, down 3 pct (0945 ET)
The programmable chipmaker posted revenue slightly below expectations in the first quarter and said it was beginning to see a recovery from a dip in demand from its communications and industrial customers.
** SYNAPTICS INC, $42.59, up 11 pct (0945 ET)
The touchscreen chipmaker forecast current-quarter results far above analysts' estimates on Thursday and confirmed that it had won contracts from Samsung Electronics Co Ltd for its Galaxy S4 smartphone and Note 8 tablet.
** LOGMEIN INC, $21.12, up 18.3 pct (0945 ET)
The maker of remote-access software posted better-than-expected quarterly results as it won a record 37,000 paying subscribers, and the company forecast second-quarter revenue above analysts' estimates.
** INFORMATICA CORP, $35.54, up 9.9 pct (0945 ET)
** QLIK TECHNOLOGIES INC, $27.50, up 15.3 pct (0946 ET)
The business software makers reported better-than-expected quarterly revenue and raised their full-year revenue forecasts as enterprises spent more on integrating and analyzing data.
** CURIS INC, $3.65, up 7 pct (0946 ET)
** VIVUS INC, $12.78, up 2.8 pct (0946 ET)
** AVANIR PHARMACEUTICALS INC, $3.79, up 18.8 pct (0947 ET)
European health regulators on Thursday recommended approval of Roche Holdings AG's drug Erivedge to treat people with advanced forms of basal cell carcinoma, the most common skin cancer. Curis is Roche's partner on the drug and is entitled to certain payments from it.
The European Medicines Agency experts also backed Avanir's Nuedexta to treat a neurologic disorder called pseudobulbar effect, and Vivus's erectile dysfunction drug Spedra.
** KLA-TENCOR CORP, $50.99, down 8.9 pct (0947 ET)
The chip equipment maker reported lower quarterly results on Thursday and said its outlook for the rest of the year has weakened due to manufacturers' concerns about the global economy.
** HOMEX DEVELOPMENT CORP , $5.12, down 27 pct (0947 ET)
The Mexican homebuilder's first-quarter profit and revenue fell sharply as it struggled with slowing home sales and a rising debt load, the company said on Thursday.
** H&R BLOCK INC, $27.69, down 1.2 pct (0948 ET)
The tax preparer said its share of tax returns prepared so far this year has remained essentially flat, compared with a year earlier, sending its stock down 9 percent after the bell.
** MOLINA HEALTHCARE INC, $33.54, down 0.9 pct (0948 ET)
The health insurer reported a first-quarter profit that was much above analysts' estimates, helped by a rate increase as its California health plan and better performance at the Florida, Texas, Ohio and Wisconsin health plans, among others.
** DECKERS OUTDOOR CORP, $56.40, down 4.9 pct (0949 ET)
The shoe maker, known for its UGG boots, on Thursday forecast a current quarter loss of about $1.10 per share. Analysts on average were expecting a loss of 96 cents per share, according to Thomson Reuters I/B/E/S.
Both Canaccord Genuity and ISI Group said investors were disappointed with the unexpected increase in first-quarter inventories and the second-quarter guidance. (Compiled by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)