January 13, 2015 / 2:28 PM / in 3 years

BUZZ-U.S. STOCKS ON THE MOVE-Amazon, Pharmacyclics, Wolverine

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U.S. stock index futures advanced on Tuesday after the S&P 500 fell for a second consecutive session, as earnings from Alcoa helped ease some investor skittishness about the corporate earnings season. Dow Jones industrial average futures were up 0.81 percent at 17,713, S&P 500 futures were up 0.70 percent at 2,036.75 and Nasdaq 100 futures were up 0.82 percent at 4,200.75.

** SYNNEX CORP, Monday close $70.97, +5.68 pct premarket

The hardware distributor reported better-than-expected fourth-quarter results as revenue from its technology solutions business rose 16 percent. At least four brokerages, including Citigroup, raised price target on the stock.

** BIG 5 SPORTING GOODS CORP, Monday close $12.97, -9.64 pct premarket

The sporting goods retailer narrowed its fourth-quarter profit estimate, hurt by weak holiday season sales. Fourth-quarter same-store sales fell 0.5 percent while merchandise margins decreased 10 basis points.

** WINDSTREAM HOLDINGS INC, Monday close $8.315, +1.02 pct premarket

Brokerage firm BofA Merrill Lynch upgraded the telephone network’s stock to “buy” from “neutral”.

** CELGENE CORP, Monday close $117, +1.32 pct premarket

The drug developer forecast fourth-quarter and full-year 2014 adjusted earnings above average analysts estimates.

** LIMONEIRA CO, Monday close $23.05, -4.6 pct after market

The real estate developer forecasts 2015 profit below average analyst estimate and reported a fourth-quarter loss that was three times that of market expectation.

** PHARMACYCLICS INC, Monday close $123.71, +18.94 pct premarket

The company forecast U.S. net revenue of $1 billion for its cancer drug Imbruvica for 2015. The forecast of an 103 percent increase over the expected 2014 revenue is based on continuous strong demand for the drug within its three approved indications and an anticipated market expansion related to a pending fourth indication.

** CHIMERIX INC, Monday close $40, +1.25 pct premarket

The ebola drug developer said it was issued a patent covering its antiviral drug brinicidofovir. With this patent, the coverage for the drug in the United States was expected to extend until 2034. William Blair raised its price target on the stock to $53 from $46, and raised its total peak sales estimate for the antiviral drug to $2.4 billion from $2 billion.

** ANTARES PHARMA INC, Monday close $2.61, -7.66 pct premarket

The company said the U.S. Food and Drug Administration has asked for additional safety data on its testosterone drug after a patient developed hives in a mid-stage trial. Hives is an allergic skin reaction that causes red, itchy bumps on the skin.

** ELI LILLY & CO , Monday close $69.42, +0.79 pct premarket

** MERCK & CO, Monday close $62.3, +1.24 pct premarket

** BRISTOL-MYERS SQUIBB CO, Monday close $62.18, +1.30 pct premarket

Eli Lilly signed two separate deals with Merck and Bristol-Myers to test combinations of its cancer treatments with two recently approved therapies that belong to a promising new class of drugs.

** AMAZON.COM INC, Monday close $291.41, +1.64 pct premarket

Citigroup upgraded the e-commerce company’s stock to “buy” from “neutral”, and raised its price target to $354 from $325.

** ALCOA INC, Monday close $16.17, +2.29 pct premarket

The aluminum company reported a higher-than-expected quarterly profit and forecast “strong demand” in its aerospace unit, driven by a robust market for large commercial aircraft, and solid demand in the automotive sector in 2015. Alcoa also forecast 2015 free-cash flow of $500 million.

** RADIOSHACK CORP, Monday close $0.39, +12.56 pct premarket

Salus Capital Partners would provide $500 million to the troubled electronics retailer in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy, the Wall Street Journal reported on Monday.

** FACEBOOK INC, Monday close $76.72, +0.51 pct premarket

Mark Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by the social networking site in China’s top smartphone maker ahead of its $1.1 billion fundraising last month, but a deal never materialized, several people with knowledge of the matter told Reuters.

** GENERAL MOTORS CO, Monday close $35.84

** GOOGLE INC, Monday close $497.06, +0.51 pct premarket

The carmaker is open to working with Google on developing self-driving car technology, GM’s chief technology officer said on Monday.

** WALT DISNEY CO, Monday close $94.46, +0.76 pct premarket

** SONY CORP, Monday close $21.36

** DREAMWORKS ANIMATION SKG INC, Monday close $23.01

Walt Disney, Sony Corp and DreamWorks urged a federal judge to throw out an antitrust lawsuit accusing them of conspiring not to poach each other’s animators in order to keep wages down.

** UNITED AIRLINES, Monday close $65.92, +1.06 pct premarket

The Chicago-based carrier is assessing whether to outsource jobs at airports around the country in a cost-cutting effort that could impact some 2,000 workers.

** ADVANCED MICRO DEVICES, Monday close $2.63, -0.38 pct premarket

The chipmaker announced the departure of three senior executives on Monday following recent layoffs and the appointment of a new CEO.

** ALIBABA GROUP HOLDING LTD, Monday close $101.62, +0.84 pct premarket

The online retailer’s founder Jack Ma and other investors will pump up to 10 billion yuan ($1.61 billion) into Chinese drugmaker Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd to help fuel its online expansion.

** ARENA PHARMACEUTICALS INC, Monday close $5.65, +4.42 pct premarket

The drug maker said it would be initiating patient dosing of its experimental drug to treat pulmonary arterial hypertension, a condition leading to high blood pressure in the arteries of the lungs, in a mid-stage study.

** EXXON MOBIL CORP, Monday close $90.33, +0.06 pct premarket

The U.S. energy company and its Canadian affiliate Imperial Oil Ltd plan to spend up to C$25 billion ($21 billion) on a liquefied natural gas facility on British Columbia’s northern Pacific coast, the companies said in documents filed with the province’s environmental regulator.

** AROTECH CORP, Monday close $2.69, +2.60 pct premarket

The defense and security products maker said on Monday that its smaller battery and power systems business received new orders worth $17 million.

The business generated revenues of $25.1 million in 2013, which was about 28 percent of the company’s total revenue.

** HEXCEL CORP, Monday close $40.38, +4 pct after market

The composite materials maker announced a quarterly dividend of 10 cents per share, its first since 1992. Hexcel also said it expects 2014 adjusted earnings to top analysts’ estimates helped by sales of its commercial aerospace business.

** BEBE STORES INC, Monday close $2.48, +5 pct after market

The apparel retailer estimated second-quarter comparable-store sales rose about 8 percent, helped by strong holiday season sales.

Bebe Stores also said it expected net loss per share, excluding non-recurring costs from continuing operations, to be in low single-digit range for the quarter ended Jan. 3

** CHANNELADVISOR CORP, Monday close $21.15, -47.99 pct premarket

The e-commerce software company cut its fourth-quarter revenue estimate to about $23.7 million from $25.6 million-$26.1 million.

** WOLVERINE WORLD WIDE INC, Monday close $29.63, -9 pct after market

The shoemaker said it expected 2015 profit to be flat compared to 2014 as it planned to spend more on marketing and omnichannel initiatives. The company said its forecast was also hurt by a stronger U.S. dollar and higher pension related expenses.

Wolverine now expects adjusted profit for 2014 at the high end of its previous forecast of $1.57-$1.63 per share. Analysts on average were expecting $1.61 per share.

** TILLY‘S INC, Monday close $11.61, +4.65 pct premarket

The specialty apparel and accessories retailer raised its fourth-quarter profit forecast due to strong sales during the holiday season.

** CNOVA NV, Monday close $8.3, +2.5 pct after market

The e-commerce company reported a 19.7 percent rise in quarterly net sales in the fourth quarter, helped by an increase in client spending. Cnova’s number of active clients rose 21.3 percent to 13.6 million, while orders rose 38 percent.

** ONEOK INC, Monday close {OKE,N;$HST_CLOSE}, -0.19 pct premarket

The U.S. Supreme Court debated on Monday on whether a federal law governing the natural gas market would allow energy companies to evade state antitrust claims made over the western U.S. energy crisis between 2000 and 2002.

The court appeared divided with the liberal justices voicing some support for the industrial and commercial users of natural gas who filed the lawsuits.

Energy companies such as ONEOK were accused of manipulating published price indexes that led to a spike in gas prices. The resulting energy crisis included rolling blackouts in California. (Compiled by Yashaswini Swamynathan in Bengaluru; Edited by Joyjeet Das)

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