October 21, 2015 / 3:46 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Valeant, SolarWinds, Pearson, Athersys

(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. stocks were little changed on Wednesday as healthcare stocks resumed their slide for a second day, offsetting gains by General Motors and technology stocks. Dow Jones industrial average futures were up 0.47 percent at 17,188, S&P 500 futures were up 0.33 percent at 2,027.25 and Nasdaq 100 futures were up 0.51 percent at 4,447.5.

** FERRARI, $56.97, +9.56 pct

Shares of the company opened at $60 in debut, more than 15 percent above the IPO price of $52/share.

** GENERAL MOTORS CO, $35.17, +5.05 pct

The company reported record quarterly earnings before charges for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $114.53, -21.95 pct

Shares of Valeant plunged after a short-seller released a report accusing the company of fraud.

** SOLARWINDS INC, $58.51, +16.55 pct

The IT management software maker said it agreed to be taken private by investment firms Silver Lake Partners and Thoma Bravo LLC for $4.5 billion.

** PEARSON PLC, $15.43, -16.10 pct

The company said earnings would be worse than expected, partly because fewer students were enrolling at U.S. colleges.

** LAM RESEARCH, $73.935, +5.58 pct

** KLA-TENCOR CORP, $66, +22.54 pct

Semiconductor equipment maker Lam Research said it agreed to buy rival KLA-Tencor in a cash and stock deal valued at about $10.6 billion. Under the deal terms, KLA-Tencor shareholders can opt for $32 in cash, or 0.5 of a share of Lam’s shares, or a combination of two.

** VMWARE INC, $55.87, -18.75 pct

** EMC CORP, $26.15, -4.87 pct

Virtualization software maker VMware forecast lower-than-expected revenue for the current quarter, prompting a slew of rating and price target cuts. Berenberg analysts say the announcement of a JV between the company and parent EMC makes preliminary 2016 guidance “messy and hard to decipher”.

EMC reported EPS and revenue lower than analysts’ estimates.

** CHIPOTLE MEXICAN GRILL INC, $658.52, -6.68 pct

At least 5 brokerages cut price target on the burrito chain’s stock by as much as $40 to as low as $660 after company posted a weaker-than-expected third quarter profit and said same-store sales growth would cool further in 2016.

** SUPERVALU INC, $6.955, -3.54 pct

The grocery wholesaler reported lower-than-expected second quarter profit and sales, hurt by a fall in same-store sales in Save-A-Lot and retail food businesses.

** SYNTA PHARMACEUTICALS CORP, $0.5657, -72.27 pct

The drugmaker has decided to end a late-stage trial of its lung cancer treatment after an independent review said it proved ineffective.

** INTUITIVE SURGICAL INC, $508.49, +7.50 pct

The robotic surgical equipment maker reported better-than-expected third quarter profit and revenue, benefiting from increasing use of its flagship da Vinci systems.

** ATHERSYS INC, $0.99, -10.00 pct

The stem cell therapy developer said it ended development of its stem cell therapy product with Japan’s Chugai Pharmaceutical Co Ltd.

** ST. JUDE MEDICAL INC, $63.05, -7.77 pct

The heart device maker forecast a lower-than-expected adjusted profit for the fourth quarter and the full year due to a strong dollar. The company expects fourth-quarter earnings of $1.00-$1.02 vs estimate of $1.07.

** XOMA CORP, $1.065, +6.50 pct

The drug developer entered into licensing agreement with Novartis that adds Xoma’s TGF-beta inhibition programs to the Swiss drugmaker’s immuno-oncology portfolio.

** WESTERN DIGITAL CORP, $75.3, +0.59 pct

** SANDISK CORP, $77.2, +2.67 pct

Hard disk drive maker Western Digital said it would buy memory chip maker SanDisk in a deal valued at about $19 billion, the latest in a wave of consolidation in the chip-making industry.

** ARM HOLDINGS, $47.34, +5.74 pct

The British chip designer, whose technology powers Apple’s iPhone, beat market expectations with a 27 percent rise in third-quarter profit and said it was confident it could keep outperforming rivals.

** YAHOO INC, $31.465, -4.16 pct

The company said on Tuesday it had signed a search advertising deal with Google Inc, providing a potential boost to Marissa Mayer’s efforts to turn around the company, which also reported revenue and profit that fell short of market estimates.

** THERMO FISHER SCIENTIFIC INC, $126.49, -1.66 pct

The world’s largest maker of scientific instruments on Wednesday reported a third-quarter profit that narrowly beat Wall Street expectations and raised the low end of its full-year earnings forecast to reflect the contribution of an acquisition.

** STARBICKS CORP, $60.85, -0.05 pct

** FIAT CHRYSLER AUTOMOBILES NV, $15.4, -3.39 pct

Europe’s competition chief ordered the Netherlands to recover 20-30 million euros in back taxes from Starbucks on Wednesday and told Luxembourg to claim the same amount from Fiat Chrysler, saying their favorable tax arrangements breached the bloc’s rules.

** CREDIT SUISSE, $25.13, -3.20 pct

Credit Suisse plans to raise 6 billion Swiss francs ($6.3 billion) from investors, slim down its investment bank and cut jobs as new chief Tidjane Thiam embarks on the biggest overhaul of the Swiss bank in almost a decade. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)

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