January 14, 2015 / 1:07 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-JPMorgan, AstraZeneca, Ziopharm, Intrexon

8 Min Read

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U.S. stock index futures fell on Wednesday, putting equities on track to extend their three-day losing streak, as global demand worries continue to put pressure on commodities such as oil and copper. Dow Jones industrial average e-mini futures were down 0.68 percent at 17,415, S&P 500 futures were down 0.66 percent at 2,002.75 and Nasdaq 100 futures were down 0.58 percent at 4,134.5.

** JPMORGAN CHASE & CO, Tuesday close $58.84, -1.85 pct premarket

The biggest U.S. bank by assets reported a 6.6 percent drop in quarterly profit as legal costs exceeded $1 billion in the wake of government probes into alleged wrongdoing and it set aside more to cover bad loans.

Graphic on bank earnings - here

** ASTRAZENECA PLC, Tuesday close $70.76, +0.52 pct premarket

The British drugmaker's blood-thinning drug Brilinta cut the risk of death or heart attack in patients with a history of previous attacks, according to a major clinical trial that will boost hopes for the closely watched product.

** ZIOPHARM ONCOLOGY INC, Tuesday close $5.74, +54.01 pct premarket

** INTREXON CORP, Tuesday close $28.37, +11.91 pct premarket

Drug developers' stock rise premarket after companies buy license to make cancer drugs using what is touted as the next big technology. Ziopharm and Intrexon bought license from University of Texas MD Anderson Cancer Center to develop a new CAR-T cell therapy, which modifies the body's own defenses to kill cancer cells.

** TESLA MOTORS INC, Tuesday close $204.25, -8.07 pct premarket

Chief Executive Elon Musk said on Tuesday that the electric luxury car maker's sales in China were "unexpectedly weak" during the fourth quarter.

The company plans to boost production of electric cars to "at least a few million a year" by 2025 from fewer than 40,000 last year, Musk said.

** GAMESTOP CORP, Tuesday close $32.77, +10.62 pct premarket

The world's largest retailer of video game products said December same-store store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.

** KB HOME, Tuesday close $13.87, -3.82 pct premarket

The No. 5 U.S. homebuilder said it expected a "significant" drop in gross margins in the quarter ending Feb. 28.

** ZELTIQ AESTHETICS INC, Tuesday close $27.9, +5.73 pct premarket

The medical device maker estimated fourth-quarter revenue of $51 million-$52 million, compared with analysts' estimate of $49.6 million.

Zeltiq said it expects 2015 revenue of about $230 million, above the $215.7 million estimated by analysts.

** BOEING CO, Tuesday close $131.17, -0.51 pct premarket

The aircraft maker said on Tuesday that it sees no business case for offering an extended-range version of its largest 737 jet, the forthcoming 737 MAX 9, to compete with a long-range plane that rival Airbus launched on Tuesday.

** MCDONALDS'S CORP, Tuesday close $92.83

The operator of McDonald's in Japan and Cargill Inc have not discovered any link between a Cargill-owned plant in Thailand and a strip of plastic found in a chicken nugget this month that sparked uproar over product safety at the fast-food chain.

** ARIAD PHARMACEUTICALS INC, Tuesday close $6.37

The drugmaker said it expects to rake in about $55 million in net sales for its cancer drug Iclusig.

** BLACKBERRY LTD, Tuesday close $9.71

Demand for the Canadian smartphone maker's software for managing employees' smartphones is declining, Globe and Mail reported, citing a Morgan Stanley survey of 150 chief information officers in the U.S. and Europe (bit.ly/1Is2212)

** PROGRESS SOFTWARE CORP, Tuesday close $26.4

The enterprise software maker forecast FY 2015 profit well below estimates, citing acquisition-related financing and a stronger dollar.

Progress Software also reported lower-than-expected fourth-quarter profit

** GOLDMAN SACHS GROUP INC, Tuesday close $184.93

The banker had to write down its loan to the troubled Portuguese bank Banco Espirito Santo SA BES.LS in the fourth quarter, cutting the bank's profit and some employees' bonuses, people familiar with the matter told Reuters.

** ALIBABA GROUP HOLDING LTD, Tuesday close $100.77, -0.64 pct premarket

The Chinese e-commerce giant said it had bought a controlling stake in online marketing company AdChina, an investment aimed at bolstering its advertising business.

** APPLE INC, Tuesday close $110.22, -0.44 pct premarket

** GOOGLE INC, Tuesday close $501.8, -0.39 pct premarket

Four Silicon Valley companies including Apple and Google have agreed to a new settlement that would resolve an antitrust class action lawsuit by tech workers, who accused the firms of conspiring to avoid poaching each other's employees.

** CSX CORP, Tuesday close $33.55

The third-largest U.S. railroad company reported on Tuesday a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.

** PETSMART INC, Tuesday close $81.21

The pet supply retailer disclosed on Tuesday that it was in talks to acquire or merge with a privately held rival, but ended talks over competition and antitrust concerns.

** ALLY FINANCIAL INC, Tuesday close $21.66

The financial services company will overcome General Motors Co's decision to stop using the lender for discounted leases on new cars by expanding business with dealers for other automakers, a spokeswoman said late Monday.

** GILEAD SCIENCES INC, Tuesday close $97.21, -1.09 pct premarket

** ABBVIE INC, Tuesday close $63.39

A pharmacy benefit manager said it would cover both Gilead and rival AbbVie Inc's hepatitis C offering, renewing concerns of pricing pressure.

** CAESARS ENTERTAINMENT CORP, Tuesday close $12.63

Junior creditors of the casino operator moved on Tuesday to put on hold the expected bankruptcy of the casino company's operating unit, which has said it could file for Chapter 11 as soon as Thursday.

** TRANSDIGM GROUP, Tuesday close $204.03

The U.S. aerospace components maker and European buyout groups Cinven and EQT are all exploring an acquisition of cargo handler Telair in a potential $700-800 million deal, two people familiar with the transaction said.

** SUNCOR ENERGY INC, Tuesday close $29.1

Canada's largest oil and gas company said on Tuesday it would cut about 1,000 employees and contractors, freeze hiring and slash C$1 billion ($837 million) in capital spending in response to falling crude oil prices.

** MAGNA INTERNATIONAL INC, Tuesday close $102.99

The Canadian auto-parts maker and contract vehicle manufacturer forecast lower-than-estimated revenue for fiscal 2015.

Magna forecast total revenue of $34.4 billion to $36.1 billion for the year, short of analysts' average estimate of $37.65 billion, according to Thomson Reuters I/B/E/S. (Compiled by Yashaswini Swamynathan in Bengaluru; Editing by Simon Jennings)

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