6 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) U.S. stock indexes fell on Friday, after the Federal Reserve's decision to hold interest rates exacerbated worries about the health of the global economy. The Dow Jones industrial average was down 1.15 percent at 16,483.56, the S&P 500 was down 0.93 percent at 1,971.65 and the Nasdaq Composite was down 0.66 percent at 4,861.581.
** ADOBE SYSTEMS INC, $82.65, +2.91 pct
The Photoshop maker reported a 21 percent jump in quarterly revenue as more customers subscribed to its creative and marketing software products provided over the Internet.
Evercore ISI raised its price target on the stock to $88 from $84 and Jefferies to $92 from $90. Evercore analysts said that Adobe was beginning to see larger, multi-product deals come through its digital marketing pipeline.
** PARSLEY ENERGY INC, $15.21, -8.04 pct
The oil and gas producer announced an offering of 13 million shares of its Class A common stock. The offering size represents about 9.2 percent of the company's total outstanding shares as of May 12.
** FREEPORT-MCMORAN INC, $11, -8.71 pct
The diversified U.S. miner and energy producer said it had filed to sell additional shares to raise up to $1 billion. The company also raised $1 billion in gross proceeds through the sale of 96.7 million shares that was announced on Aug. 10.
** LA QUINTA HOLDINGS, $15.91, -16.13 pct
The Blackstone-sponsored holding company announced the departure of its CEO and warned of slower revenue and EBITDA growth due to weaker-than-expected hotel demand during August and September. Brokerages downgraded the company's stock and cut their price targets by as much as $8. JP Morgan cut its rating to "neutral" from "buy", while Citi cut it to "neutral" from "overweight".
** TRACON PHARMACEUTICALS INC, $16.3, +38.96 pct
The drug developer said a patient suffering from choriocarcinoma showed complete response to its experimental drug, TRC105. Choriocarcinoma is a fast-growing form of cancer that occurs in a woman's uterus. It is currently treated using chemotherapy. Complete response to a drug is the disappearance of all signs of cancer in response to treatment. However, there are chances of a relapse.
** PENUMBRA INC, $41, +36.67 pct
The medical device maker offered 4 million shares, upsized from 3.8 million, at $30 each, above the original range of $25-$28. The Fidelity Investments-backed company will use the proceeds to expand commercialization of its stent-based treatments for stroke and embolisms in the brain and vascular disease.
** CITIGROUP INC, $50.45, -2.32 pct
** GOLDMAN SACHS GROUP INC, $181.2, -2.82 pct
** JPMORGAN CHASE & CO, $61.09, -2.49 pct
** MORGAN STANLEY, $33.16, -2.61 pct
** BANK OF AMERICA CORP, $15.54, -2.02 pct
** WELLS FARGO & CO, $50.88, -2.55 pct
** AMERICAN INTERNATIONAL GROUP INC, $57.77, -1.13 pct
** METLIFE INC, $46.7, -2.26 pct
** AMERICAN EXPRESS CO, $76.35, -0.92 pct
** PRUDENTIAL FINANCIAL INC, $76.61, -2.02 pct
Shares of major U.S. banks, insurers and other financial companies fell after the Federal Reserve kept interest rates unchanged on Thursday in a bow to worries about the global economy, financial market volatility and sluggish inflation at home.
** PRIMERO MINING CORP, $2.63, +1.54 pct
** ELDORADO GOLD CORP, $3.02, +0.00 pct
** PRETIUM RESOURCES INC, $5.56, +2.02 pct
** SIBANYE GOLD LTD, $5.18, +2.78 pct
** ANGLOGOLD ASHANTI LTD, $8.4, +1.82 pct
** GOLDCORP INC, $13.56, +0.22 pct
** HECLA MINING CO, $2.25, +5.14 pct
** FIRST MAJESTIC SILVER CORP, $3.2, +0.31 pct
** FORTUNA SILVER MINES INC, $2.37, +0.85 pct
Shares of gold and silver miners rose after gold prices gained as the Federal Reserve's decision to leave U.S. interest rates unchanged weighed on the dollar and added to uncertainty over the timing of the first rate hike in a decade.
** EXXON MOBIL CORP, $72.96, -2.01 pct
** CONOCOPHILLIPS, $49.03, -2.19 pct
** CHEVRON CORP, $77.94, -1.85 pct
** BONANZA CREEK ENERGY INC, $6.14, -11.14 pct
** ECLIPSE RESOURCES CORP, $3.18, -8.62 pct
** BILL BARRETT CORP, $3.43, -9.97 pct
** EP ENERGY CORP, $5.78, -9.55 pct
** WPX ENERGY INC, $7.9, -4.36 pct
** DENBURY RESOURCES INC, $2.95, -8.39 pct
** PIONEER ENERGY SERVICES CORP, $2.56, -8.24 pct
** C&J ENERGY SERVICES LTD, $4.35, -8.61 pct
** PRECISION DRILLING CORP, $4.1, -4.65 pct
** DIAMOND OFFSHORE DRILLING INC, $20.89, -6.24 pct
** ENSCO PLC, $15.74, -6.70 pct
Shares of oil and gas companies declined after oil prices fell after U.S. Fed's decision to keep interest rates unchanged raised concerns about the health of the global economy.
** SOUFUN HOLDINGS LTD, $6.11, +4.09 pct
The Chinese online property portal said its management, IDG and Carlyle would invest $400 million-$700 million to purchase Class A shares and convertible notes.
** KINROSS GOLD CORP, $1.75, +3.55 pct
The Canadian miner lowered its full-year capital spending and overhead costs forecasts on Thursday and raised the lower end of its production outlook. (Compiled by Manish Parashar in Bengaluru; Editing by Kirti Pandey)