BUZZ-U.S. Stocks on the Move-Sinocoking, Apricus, ShoreTel, NCR

Mon Oct 20, 2014 9:11am EDT
 
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(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

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 0.64 percent at 16,204, S&P 500 futures were down 0.28 percent at 1,875.75 and Nasdaq 100 futures were down 0.07 percent at 3,801.5.

** IBM CORP, Friday close $182.05, -7.57 pct premarket

IBM said it no longer expected to achieve its 2015 operating earnings target of at least $20 per share after weak client spending resulted in an unexpected fall in quarterly earnings and revenue.

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.

** SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES INC , Friday close $2.35, +55.74 pct premarket   Continued...