9 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 mixed at the open on Wednesday with the Nasdaq rising for the third straight session on a mixed bag of earnings from large-cap companies, including McDonald's and Coca-Cola. The Dow Jones industrial average was down 0.07 percent at 17,936.67, the S&P 500 was down 0.03 percent at 2,096.69 and the Nasdaq Composite was up 10.45 points, or 0.21 percent, to 5,024.55.
** VISA INC, $68.01, +4.07 pct
** MASTERCARD INC, $90.75, +3.40 pct
China said it would open bank its card clearing market to foreign firms from June. The move will give the likes of Visa and MasterCard direct access to a market valued at $6.84 trillion last year.
** MCDONALD'S CORP, $98.97, +4.32 pct
The world's biggest restaurant chain said it was developing a new turnaround plan to improve sales and profits as it struggled to regain its footing in the highly competitive fast-food market.
** COCA-COLA CO, $41.17, +0.96 pct
The world's largest beverage maker reported a rise in revenue for the first time in nine quarters, helped by a 6 percent rise in revenue from North America, its biggest market.
** GREAT BASIN SCIENTIFIC INC, $5.8801, +66.10 pct
The diagnostic test maker said the U.S. Federal Drug Administration granted clearance for the company's molecular diagnostic test for Group B Streptococcus, a type of bacterial infection in pregnant women.
** CAPRICOR THERAPEUTICS INC, $7.7699, +15.28 pct
The drug developer's muscle wasting disorder drug was granted orphan drug designation by the U.S. FDA.
** IROBOT CORP, $31.98, -3.70 pct
The robot maker forecast a lower-than-expected second-quarter earnings and revenue. The Company reported a 10 percent fall in net income for the first quarter ended March 28.
** AUTONATION INC, $65.33, +0.66 pct
The largest U.S. auto dealer's profit for the first quarter beats analysts' average estimate for the third straight quarter. Higher sales of new and used vehicles helped revenue beat estimates. Chief Executive Mike Jackson continued to expect industry new vehicle sales this year to top 17 million, the third time after 2000 and 2001.
** NATURAL RESOURCE PARTNERS LP, $6.09, -11.99 pct
The MLP slashed its quarterly dividend to 9 cents per unit from 35 cents, saying the cut will help it lower debt by about $130 million annually. The company had debt of $1.47 billion as of Dec. 31, and cash and equivalents of $50.1 million, according to Thomson Reuters I/B/E/S.
** DOLBY LABORATORIES INC, $39.99, +4.91 pct
The audio technology company's adjusted profit and revenue for the second quarter beat the average analysts estimate. Its adjusted profit forecast for the third quarter was also above estimates. J.P. Morgan Securities upgraded the stock to "overweight" from "neutral" and raised its price target to $48 from $39.
** CTI BIOPHARMA CORP, $1.905, +3.53 pct
The drug developer and Baxter Inc will present late-stage trial data of an experimental drug to treat bone-marrow disorder at an American Society of Clinical Oncology meeting in May. The drug, Pacritinib, is currently being studied in two late-stage trials. CTI and Baxter had entered into a license agreement in 2013 to develop and market Pacritinib.
** INTUITIVE SURGICAL INC, $526.56, -3.69 pct
BTIG Research cut its price target on the stock to $585 from $600 after the surgical robot maker reported on Tuesday a first-quarter profit below the average analyst estimate.
** SYSCO CORP, $37.55, -0.13 pct
The food distributor said it had filed a memorandum opposing the U.S. Federal Trade Commission's efforts to block its proposed merger with smaller rival U.S. Foods Inc .
** ANGIE'S LIST INC, $6.97, +13.33 pct
The company, which operates a website that allows users to review local businesses, reported a 15 percent rise in quarterly revenue as it earned more from advertising contracts. The company posted a profit of 7 cents per share in the first quarter while analysts' on average were expecting the company to break even on a per share basis.
** PROCERA NETWORKS, $11.435, +20.24 pct
The network equipment maker is to be bought by private equity firm Francisco Partners Management for about $240 million. Francisco Partners will pay $11.50 per share, a premium of 20.9 percent to Procera's Tuesday close of $9.51.
** ABBOTT LABORATORIES, $48.08, +2.04 pct
The company's net earnings from continuing operations more than doubled in the first quarter, with strong performance in its branded generics, international nutrition and diagnostics divisions.
** UNITED RENTALS INC, $95.02, -2.94 pct
The world's largest equipment rental company cut the top end of its sales forecast for 2015 and estimated rental rates to rise by about 3 percent, compared with its prior outlook of 3.5 pct.
** MASCO CORP, $26.58, +0.87 pct
FBR Capital Markets upgraded the building product maker's stock to "outperform" from "market perform", according to Theflyonthewall.com.
** CALAMP CORP, $19.96, +19.66 pct
The wireless device maker reported higher-than-expected fourth-quarter profit and revenue, helped by a 23 percent rise in revenue from its Wireless DataCom unit, its biggest business.
** ILLUMINA INC, $193.15, -3.09 pct
The medical test maker forecast a full-year profit above analysts' estimates and said it expected revenue to rise 20 percent, including the negative impact of a stronger dollar.
** TEVA PHARMACEUTICAL INDUSTRIES INC, $62.56, -2.49 pct
** MYLAN NV, $73.6502, -0.57 pct
Some of the top investors at Mylan, including Paulson & Co, are encouraging its board to consider a takeover proposal from rival Teva Pharmaceutical, according to people familiar with the matter.
** PERRIGO COMPANY PLC, $199.82, +3.63 pct
Mylan planned to make a new offer for the Dublin-based company in the near term, CNBC reported on Wednesday, citing a source familiar with the matter. Perrigo's board unanimously rejected a $205 per share offer from the generic drugmaker Mylan.
** YUM BRANDS INC, $84.5, +4.51 pct
The owner of KFC and Pizza Hut chains on Tuesday said business in China, its biggest market, was recovering from a meat scare at one of its minor suppliers and the division would finish the year strong.
** CREE INC, $32.31, -8.73 pct
The light-emitting diode maker reported a slightly lower-than-expected third-quarter profit as operating expenses rose. +2.93** CHIPOTLE MEXICAN GRILL INC , Tuesday close $692.52, -5.13 pct premarket
The company said it expects the removal of pork from one-third of its restaurants to hurt sales this year, the burrito chain said, after reporting the slowest same-restaurant sales growth in five quarters.
** VMWARE INC, $89.26, +4.52 pct
The virtualization software maker reported its slowest revenue growth in seven quarters as IT spending remained sluggish and a stronger dollar reduced the value of overseas sales.
** BLACKBERRY LTD, $9.8349, -1.95 pct
The smartphone maker said on Tuesday it was launching a new certificate service that will help bring the security level it offers on its phones to a slew of devices from cars to smart meters. Certicom, a subsidiary of BlackBerry and an industry pioneer in elliptic curve cryptography, announced a new offering that it contends will secure millions of devices, expected to be part of the growing Internet of Things (IoT) sphere.
** BROADCOM INC, $45.75, +4.02 pct
The wireless chip maker reported higher-than-expected quarterly revenue and profit, helped by strong sales of its WiFi and broadband chips to smartphone makers such as Apple Inc and Samsung Electronics Co Ltd.
** THERMO FISHER SCIENTIFIC INC, $130.76, -2.74 pct
The world's largest maker of scientific instruments, on Wednesday lowered its full-year 2015 revenue outlook, citing adverse foreign exchange rates, but raised the lower end of its earnings forecast.
** AUTOLIV, $119.98, -3.00 pct
The auto safety gear maker posted first quarter earnings above market expectations and said it expected organic sales growth of around 6 percent in the second quarter.
** PROTEON THERAPEUTICS INC, $12.0501, -1.47 pct
The company's lock-up period expired on Monday and major shareholders and company insiders can now sell their shares (1.usa.gov/1ObNXv3). (Compiled by Rosmi Shaji in Bengaluru)