5 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 recouped early losses on Friday, helped by healthcare and tech stocks, as investors assessed data pointing to a strong recovery in the U.S. economy. The Dow Jones industrial average was up 0.17 percent at 17,715.84, the S&P 500 was up 0.06 percent at 2,060.93 and the Nasdaq Composite was up 0.27 percent at 4,883.131.
** CARDIOVASCULAR SYSTEMS INC, $13.0147, +25.50 pct
The heart device maker on Thursday announced broad-based restructuring measures to reduce costs, including a workforce reduction of about 8 percent.
** UNITED CONTINENTAL, $56.61, -5.43 pct
** AMERICAN AIRLINES, $39.71, -3.17 pct
** DELTA AIR LINES, $47.22, -3.00 pct
** HAWAIIAN HOLDINGS, $45.84, -2.86 pct
** SOUTHWEST AIRLINES, $44.14, -1.47 pct
** ALASKA AIR, $81.51, -0.62 pct
** JETBLUE, $21.3601, +1.14 pct
** SPIRIT, $47.62, -0.75 pct
** SKYWEST, $19.48, -2.55 pct
Deutsche Bank says key macro indicators suggest more challenging environment for 2016, downgrading the majors to "hold" from "buy" and lowering PTs.
** TESLA MOTORS, $235.2792, +2.40 pct
The company gave a sneak preview Thursday of its Model 3 sedan, saying more than 130,000 people had ordered the car, even though it is more than a year away from production.
Shares surge as Model 3 orders speed past estimates
** STARWOOD HOTELS & RESORTS WORLDWIDE INC, $79.3, -4.95 pct
** MARRIOTT INTERNATIONAL INC, $67.03, -5.83 pct
China's Anbang Insurance Group Co said on Thursday it has abandoned its $14 billion bid for Starwood Hotels & Resorts Worldwide, paving the way for Marriott to buy the Sheraton and Westin hotels operator.
"MAR's shareholder vote is uncertain given the higher price and our feeling that MAR's raising and altering the mix of its equity and cash from its original bid was almost unnecessary," JP Morgan analysts write in a note.
BREAKINGVIEWS-Anbang risks a Year of the Stalking Horse
** SUNEDISON INC , $0.4869, -9.87 pct
The struggling solar company said it received a subpoena from the U.S. Department of Justice seeking details related to its failed deal to buy Vivint Solar Inc and transactions with its two publicly listed units.
** TERRAFORM POWER INC, $9.5667, +10.60 pct
Hedge fund Appaloosa LP raised its stake to 10.88 percent in the company, one of the two publicly listed units of struggling solar company SunEdison.
** BLACKBERRY LTD, $7.485, -7.48 pct
The smartphone industry pioneer reported a larger-than-expected slide in fourth-quarter revenue amid weakness in hardware sales.
** MARVELL TECHNOLOGY GROUP LTD, $9.835, -4.61 pct
The chipmaker said it is unable to file 10-K for year ended Jan. 30 due to internal accounting probe.
** REGENERON PHARMACEUTICALS INC, $404.065, +12.10 pct
The drugmaker and Sanofi said their experimental treatment for eczema proved highly effective in two large studies, without serious side effects often seen with standard treatments for the chronic inflammatory skin disease.
** SPIRIT AEROSYSTEMS HOLDINGS INC, $44.11, -2.76 pct
Boeing said it is ending an agreement with one of its largest suppliers, Spirit, effectively taking away manufacturing of profitable spare parts used in aircraft repairs.
** ARRAY BIOPHARMA INC, $2.87, -2.71 pct
The company abandoned a late-stage study testing its experimental ovarian cancer drug, after an interim analysis showed the trial would likely fail.
** CHIPOTLE MEXICAN GRILL INC, $461.7, -1.97 pct
Goldman cuts rating on the burrito chain operator to "neutral". "Increased concerns about the cadence and costs of the comp recovery now fully offset our confidence in longer-term upside," analyst Karen Holthouse writes in note.
Graphic on Chipotle's woes (bit.ly/1UxpO4y)
** NOVARTIS AG, $71.05, -1.92 pct
Ankara Chief Prosecutor launched an investigation into the Swiss drugmaker's Turkish unit, local media reported on Friday, after allegations it benefited from bribery.
** TEXAS CAPITAL BANCSHARES INC, $36.61, -4.61 pct
Barclays cuts price target for third time this year. Reduces PT to $44 from $45 on worries of impact of falling oil prices on Texas economy.
** URBAN OUTFITTERS INC, $34.06, +2.93 pct
At least five brokerages raise price targets on the apparel retailer's stock, Suntrust Robinson to $39 from $34.
** ROVI CORP, $17.11, -16.58 pct
The provider of digital entertainment guides sues Comcast Corp, the largest U.S. cable operator, for infringing on 14 of its patents. (Compiled by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila)