October 21, 2014 / 12:22 PM / 3 years ago

BUZZ-U.S. Stocks on the Move-Coca-Cola, Travelers, Apollo, Apple

7 Min Read

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Coca-Cola Co and Chipotle Mexican Grill were among the most active names of Tuesday's premarket session, with both stocks falling on heavy volume. Dow Jones industrial average futures were up 0.32 percent at 16,384, S&P 500 futures were up 0.50 percent at 1,909.5 and Nasdaq 100 futures were up 0.81 percent at 3,897.25.

** THE COCA-COLA CO, Wednesday close $43.29, -4.13 pct premarket

Coca-Cola Co said its quarterly profit fell 14 percent and that it was expanding cost-cutting initiatives as carbonated beverage volumes in North America declined.

** CHIPOTLE MEXICAN GRILL INC, Monday close $653.03, -5.06 pct premarket

Morgan Stanley cut its price target on Chipotle Mexican Grill's stock to $696 and Wunderlich Securities to $660 from $680. The median price target on the stock is $712.50.

Chipotle reported on Monday another acceleration in quarterly restaurant sales growth, but shares in the popular burrito seller tumbled after it signaled that such momentum would not last forever.

** APPLE INC, Monday close $99.76, +2.20 pct premarket

Strong global demand for Apple Inc's iPhone 6 will drive revenue growth through 2015, while updated models should help reverse three straight quarters of declining iPad sales, analysts said.

At least 10 brokerages raised price targets on Apple's stock by as much as $20 to as high as $143. The median price target on the stock is $115, according to Thomson Reuters data.

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** TEXAS INSTRUMENTS INC, Monday close $44.41, +2.45 pct premarket

The company posted third-quarter results above expectations and its CFO said business was healthy, in contrast to recent concerns on Wall Street about a possible slowdown in chip demand.

** FACEBOOK INC, Monday close $76.95, +0.84 pct premarket

Facebook and Chief Executive Mark Zuckerberg have sued several lawyers who represented Paul Ceglia, claiming they helped the upstate New York entrepreneur pursue a fraudulent lawsuit to extort a 50 percent stake in the social networking company.

** AMAZON.COM INC, Monday close $306.21, +0.58 pct premarket

The online book retailer said on Monday that it had signed a multi-year deal with Simon & Schuster Inc, the second Big-Five book publisher, on the future price of e-books.

** MICROSOFT CORP, Monday close $44.08, +0.50 pct premarket

Microsoft will provide free cloud-computing and research applications to qualified medical researchers working on the Ebola virus, the software company's chief executive said on Monday.

** IBM CORP, Monday close $169.1, -0.80 pct premarket

IBM reported on Monday a marked slowdown in business in September and abandoned its 2015 operating earnings target. The company also announced that it would hive off its loss-making semiconductor unit to contract chipmaker Globalfoundries Inc.

** BLACKBERRY LTD, Monday close $10.3, +0.29 pct premarket

BlackBerry shares were up in premarket trading after a news website said on Monday that Chinese computer maker Lenovo Group might offer to buy the Canadian technology company.

Benzinga.com, citing an unnamed source familiar with the matter, said an offer worth $15 a share could come as early as this week.

** TRAVELERS COS INC, Wednesday close $93.2, +1.30 pct premarket

The property and casualty insurer reported a better-than-expected rise in quarterly operating profit, helped by higher net investment income and a fall in disaster-related losses.

** APOLLO EDUCATION GROUP INC, Wednesday close $25.75, -2.91 pct premarket

The U.S. for-profit education provider reported a 15 percent fall in quarterly revenue as it enrolled fewer students.

** RHINO RESOURCE PARTNERS LP, Wednesday close $11.89, -46.01 pct premarket

Raymond James downgraded the coal producer's stock to "underperform" from "outperform", citing a reduction in cash distribution.

"..2014 guidance is out the window and we have little visibility towards 2015," the brokerage wrote in a note.

Rhino Resource announced a quarterly cash distribution of 5 cents per common unit, down from 44 cents per unit, citing weak coal markets that impacted cash flow.

** ALLERGAN INC, Monday close $179.25

** SHIRE PLC, Monday close $184.59, -0.27 pct premarket

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Monday close $124.78

** ABBVIE INC, Monday close $54.41, +2.10 pct premarket

Allergan shareholder Paulson & Co is urging the Botox maker to merge with specialty pharmaceutical company Shire as an alternative to a deal with hostile bidder Valeant, according to two people familiar with the matter.

U.S. drugmaker AbbVie said on Monday that it had reached agreement with Shire to officially call off its proposed $55 billion purchase of the Irish company, and would pay Shire a $1.64 billion breakup fee for walking away from the deal.

** NOVARTIS AG, Monday close $87.9

An advisory panel to the U.S. Food and Drug Administration unanimously recommended the use of Novartis' anti-inflammation drug in patients with a type of psoriasis, paving the way for its approval.

The panel voted 7-0 in favor of the drug's use in plaque-psoriasis, the most common form of the painful, unsightly skin condition.

** ASBURY AUTOMOTIVE GROUP INC, Monday close $65.3

The U.S. auto dealer reported a 43 percent jump in quarterly profit as it sold more vehicles as easier credit helped it sell more cars.

** STAPLES INC, Monday close $12.3, -2.44 pct premarket

The office-supply retailer is investigating a possible breach of payment card data and has contacted law enforcement about the matter, making it the latest U.S. retailer to become a possible victim of a cyber attack.

** VITAMIN SHOPPE INC, Monday close $45.43

The nutritional supplement retailer under activist shareholder pressure to consider a sale is speaking to investment banks about hiring a financial adviser, according to people familiar with the matter.

** ACTAVIS PLC, Monday close $226.67, $226.67, +1.47 pct premarket

** SANOFI SA, Monday close $51.78, -0.33 pct premarket

The generic drugmaker and France's Sanofi are among the suitors for privately held Omega Pharma NV , Bloomberg reported, citing people familiar with the matter.

** KAISER ALUMINUM CORP, Monday close $75.14

The specialty aluminum products maker's third-quarter profit plunged 36 percent due to lower shipments. The company said it expects full-year adjusted EBITDA to fall slightly below 2013 levels.

** KIMBERLY-CLARK CORP, Monday close $108.04, +0.89 pct premarket

The personal care products maker reported a 3.4 percent rise in quarterly revenue, helped by strong sales in international markets such as Brazil, China, South Africa and Vietnam. (Compiled by Shailaja Sharma in Bangalore; Editing by Simon Jennings)

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