4 Min Read
(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) Wall Street was slightly higher in quiet trading on Wednesday morning, led by healthcare and consumer stocks after a flood of data that suggested that the U.S. economy was growing modestly. The Dow Jones industrial average was up 0.04 percent at 17,820.04, the S&P 500 was up 0.01 percent at 2,089.28 and the Nasdaq Composite was up 0.18 percent at 5,112.075.
** HP INC, $12.65, -13.59 pct
** HEWLETT PACKARD ENTERPRISE CO, $14.17, +3.51 pct
HP Inc, which houses former Hewlett-Packard Co's legacy printer and PC business, forecast adjusted profit for the first quarter below market expectations as it struggles with weak sales of PCs and printers.
Hewlett Packard Enterprise, which is headed by Meg Whitman and holds the corporate hardware and services businesses, maintained its adjusted profit forecast for the year.
** ABENGOA AG, $2.21, -52.47 pct
Heavily indebted engineering Spanish firm Abengoa is seeking creditor protection after a new investor backed out of injecting fresh equity.
** GUESS INC, $21.11, +8.03 pct
Analysts raised their price target on the stock after the apparel retailer reported better-than-expected third-quarter profit.
** DEERE & CO, $78.58, +2.93 pct
** CNH INDUSTRIAL NV, $6.93, +4.21 pct
Farm equipment maker Deere reported a better-than-expected fourth-quarter profit, helped by lower effective tax rate and costs.
Italian truck and tractor maker CNH Industrial's shares rose after U.S. peer Deere announced results.
** BIOMARIN PHARMACEUTICAL INC, $96.73, -1.09 pct
** SAREPTA THERAPEUTICS INC, $36.93, -1.05 pct
** PTC THERAPEUTICS INC, $29.8305, -6.05 pct
A panel of outside advisers to the U.S. Food and Drug Administration indicated that efficacy data from BioMarin on its experimental drug for treating a muscle wastage disorder was not persuasive enough to warrant approval.
Shares of rivals Sarepta and PTC Therapeutics were also down.
** NETEASE INC, $169.38, +2.67 pct
Goldman Sachs initiated coverage on the internet firm with a "buy" and said NetEase is likely to sustain strong revenue growth in mobile games in contrast to expectations of loss of market share that current consensus revenue estimates suggest.
** AMERICAN CAPITAL LTD, $15.02, +8.06 pct
The global asset manager said it would conduct a full strategic review and expands its stock buyback program.
** ADURO BIOTECH INC, $32, +18.30 pct
Aduro shares were up on Wednesday, reversing the previous day's losses after the company reassured investors on a conference call after a case of listeriosis in a pancreatic patient treated with CRS-207, according to an analyst.
** IMMUNOGEN INC, $13.815, +7.59 pct
Jefferies raised its rating on the drug developer to "buy" from "hold."
** TESLA MOTORS INC, $226.54, +3.80 pct
Credit Suisse analyst Dan Galves said Tesla's fourth-quarter volume guidance "looks achievable."
** STONE ENERGY CORP, $7.04, -1.54 pct
** SEADRILL LTD, $226.54, +3.80 pct
** BAYTEX ENERGY CORP, $4.48, +0.45 pct
** ENERPLUS CORP, $5.17, -1.34 pct
** SWIFT ENERGY CO, $0.39, -2.99 pct
** LINN ENERGY LLC, $2.1024, -4.00 pct
** PETROBRAS, $5.2, -6.64 pct
** STATOIL ASA, $15.59, -1.45 pct
** CONOCOPHILLIPS, $54.84, -0.87 pct
** NATIONAL OILWELL VARCO INC $38.31, -0.78 pct
** SCHLUMBERGER LTD, $77.97, -0.27 pct
** TRANSOCEAN LTD, $14.31, -1.92 pct
** ENSCO PLC, $17.05, -1.27 pct
** NABORS INDUSTRIES LTD, $10.46, +1.85 pct
U.S.-listed shares of oil and gas companies were down after oil prices fell and as the dollar gained and investor focus shifted back to a deep global supply glut.
** STAGE STORES INC, $8.02, +8.38 pct
The apparel and accessories retailer's shares were up after six executives and directors, including CEO Michael Glazer, bought its shares. (Compiled by Rachel Chitra in Bengaluru; Editing by Maju Samuel)