BUZZ-U.S. Stocks on the Move-NewLink, Valeant, IBM, CSX, Halliburton

Mon Oct 20, 2014 8:36am EDT
 
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U.S. stock index futures were lower on Monday, on the heels of a fourth week of losses for the benchmark S&P 500, as quarterly results from IBM disappointed: Dow Jones industrial average futures were down 0.45 percent at 16,235, S&P 500 futures were down 0.05 percent at 1,880 and Nasdaq 100 futures were up 0.09 percent at 3,807.5.

** IBM CORP, Friday close $182.05, -6.87 pct premarket

IBM's third-quarter profit and revenue misses analysts' average estimate. The company said it expects an erosion in gross profit margin, after a slowdown in September in "client buying behavior."

The company also said it would pay contract-chipmaker Globalfoundries Inc $1.5 billion in cash over the next three years to take its loss-making semiconductor unit off its hands.

** NEWLINK GENETICS CORP, Friday close $29.35, +30.32 pct premarket   Continued...