April 23, 2014 / 11:54 AM / in 4 years

MARKET PULSE-Plug Power, Boeing, Biogen Idec, Dow, Polaris, Skechers

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April 23 (Reuters) -

** PLUG POWER INC, Tuesday close $6.7, -9.55 pct premarket

The fuel cell systems maker on Wednesday said it expected to lose $5-$6 million before interest, taxes, depreciation, amortization and stock-based compensations in the first quarter ended March, wider than a loss of $4.8 million a year earlier.

The company on Tuesday raised the number of shares issuable in a public offering to 17 million shares from 6.5 million.

** BOEING CO, Tuesday close $127.55, +2.31 pct premarket

The aeroplane maker reported an eight percent increase in quarterly revenue, helped by a rise in commercial aircraft deliveries.

** DOW CHEMICAL CO, Tuesday close $48.94, +1.35 pct premarket

The chemicals maker reported a 75 percent rise in quarterly profit, helped by higher prices for its plastics products and higher margins in most of its businesses.

** DELTA AIR LINES, Tuesday close $34.95, +2.29 pct premarket

The aviation company on Wednesday reported a higher first quarter profit as revenue rose and it benefited from lower fuel and maintenance costs. Net income was $213 million, or 25 cents a share, up from $7 million, or one cent a share, for the year-earlier first quarter.

** MANPOWERGROUP INC, Tuesday close $77.88

The world’s third-largest staffing company reported a quarterly profit that almost tripled, helped by improved hiring in Europe and lower selling and administrative costs.

** CELESTICA INC, Tuesday close $10.93

The Canadian contract electronics manufacturer’s quarterly profit more than tripled, helped by higher operating margins.

** INGERSOLL-RAND PLC, Tuesday close $57.99

The maker of Trane airconditioners reported a 10 percent decline in quarterly profit as its tax bill jumped. The company’s net profit fell to $79 million, or 28 cents per share, in the first quarter ended March 31 from $88 million, or 29 cents per share, a year earlier.

** JOHNSON CONTROLS INC, Tuesday close $48.25

The company, one of the biggest suppliers of auto parts, reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit.

** PROCTER & GAMBLE CO, Tuesday close $81.25

The world’s largest household products maker reported a higher quarterly profit on Wednesday, helped by an increase in sales of its home care products.

** EMC CORP, Tuesday close $26.76

The technology company posted a better-than-expected 2 percent rise in quarterly revenue due to higher sales of its storage products as customers expand their data centers.

** NORTHROP GRUMMAN CORP, Tuesday close $119.79

The maker of unmanned planes on Wednesday reported a higher-than-expected quarterly profit despite a drop in sales, and the U.S. weapons maker raised its earnings forecast.


The drugmaker said its experimental cancer drug was shown to be safe and effective in a mid-stage trial. Captisol-enabled melphalan, is an intravenous formulation of a common chemotherapy drug melphalan, and is being tested in multiple myeloma patients undergoing stem cell transplants.

** BIOGEN IDEC INC, Tuesday close $306.2, +1.24 pct premarket

The U.S. biotechnology company on Wednesday reported a higher first-quarter profit as sales of its new Tecfidera multiple sclerosis drug extended its run of eclipsing Wall Street sales forecasts.

** POLARIS INDUSTRIES INC, Tuesday close $140.31, +0.14 pct premarket

The maker of off-road vehicles raised its full-year profit forecast after reporting a 7 percent rise in quarterly earnings, helped by strong sales of its motorcycles and off-road vehicles.

** SKECHERS USA INC, Tuesday close $36.87, +14 pct after market

The company on Tuesday posted a near-fivefold jump in quarterly profit after its new footwear designs sold well in the United States and abroad.

** SKYWORKS SOLUTIONS INC, Tuesday close $37.96, +12 pct after market

The chipmaker’s second-quarter results and current-quarter forecast beat Wall Street estimates, helped by strong sales of chips used to connect machines to the Internet.

** VMWARE INC, Tuesday close $105.15, -3.4 pct after market

The virtualization software maker reported better-than-expected first-quarter revenue and forecast current-quarter revenue largely above analysts’ average estimate as more customers opt for its cloud infrastructure services. However, the company on Tuesday acknowledged a delay in closing some of its enterprise license agreements in the first quarter as customers looked to sign expanded deals.

** GOOGLE INC, Tuesday close $545.5, +0.26 pct premarket

The Internert search giant will allow marketers to run online ads that send consumers to a page directly inside a mobile app, furthering the company’s effort to extend its multibillion-dollar advertising business to smartphones.

** COMCAST CORP, Tuesday close $50.83

** TIME WARNER CABLE INC, Tuesday close $138.43

** CHARTER COMMUNICATIONS INC, Tuesday close $126.96

Comcast may divest about 4 million subscribers after its merger with Time Warner Cable and is working to reach an accord to sell a portion of those customers to Charter Communications, a source familiar with the matter said Tuesday.

** AMGEN INC, Tuesday close $119.3, -3.2 pct after market

The drugmaker on Tuesday reported lower-than-expected first quarter profit as sales of several key products fell short of Wall Street estimates, with its big-selling rheumatoid arthritis drug Enbrel particularly hard hit by inventory stocking by wholesalers late last year.

** WAL-MART STORES INC, Tuesday close $77.56

The retail chain is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported.

** DISH NETWORK CORP, Tuesday close $59.42

The No. 2 U.S. satellite TV provider is looking to debut internet TV service this summer, Bloomberg News reported on Tuesday citing people familiar with the matter.

** JETBLUE AIRWAYS CORP, Tuesday close $8.59

The airline’s pilots voted by a wide margin on Tuesday to join the Air Line Pilots Association union, sending the budget carrier’s stock price down on concerns the move would raise the airline’s costs.

** DARDEN RESTAURANT INC, Tuesday close $49.87

Darden will have to call a shareholder meeting to vote on Starboard Value LP’s proposal to delay the company’s plan to spin off its struggling Red Lobster chain, after the activist investor secured the support of a majority of the company’s shareholders.

** CITIGROUP INC, Tuesday close $48.02

The two men at the top of the third-biggest U.S. bank and the most international acknowledged on Tuesday that the company must do more to simplify itself.

Asked at an annual meeting of shareholders whether Citigroup is too big to manage, Chairman Mike O’Neill said the task “is certainly harder” for its size and that the company has more years of work in a drive to reduce risk and complexity that started when the company was bailed out in the financial crisis.

** GOLDMAN SACHS GROUP INC, Tuesday close $160.46, -0.27 pct premarket

Goldman Sachs’ asset-management business has agreed to buy Westpeak Global Advisors, a firm that aims to beat market indexes by using factors other than company size to pick stock investments. The deal, disclosed on Tuesday, comes as Goldman is working to bulk up its asset management unit, partly by strengthening its quantitative product offerings.

** AT&T INC, Tuesday close $36.29, -2.23 pct premarket

Some analysts were disappointed with the No. 2 wireless service provider though it raised its 2014 revenue growth forecast.

AT&T raised its full-year revenue growth forecast to at least 4 percent from 3 percent on Tuesday and said it expects adjusted earnings per share to grow at a mid-single digit rate.

The “disappointing” increase in revenue and EPS were mostly because of the larger number of customers shifting to the cheaper Mobile Share Value plan, which will eat into service revenue going forward, JP Morgan analysts wrote in a note and cut their price target on the stock to $34 from $35.

** INTUITIVE SURGICAL INC, Tuesday close $422.33, -8.38 pct premarket

Several analysts cut their price targets on the medical device maker’s stock after it lowered its forecast on Tuesday for procedure growth for its da Vinci surgical robots, citing a slowdown in U.S. gynecology procedures.

** GILEAD SCIENCES INC, Tuesday close $72.86, +4.31 pct premarket

Gilead, which has ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple.

At least two brokerages raised their target prices on the drugmaker’s stock after it said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple and soundly beat analysts’ estimates.

** YUM BRANDS INC Tuesday close $77.48, +3.64 pct premarket

KFC parent Yum Brands on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety scare that pummeled demand for chicken last year.

** DISCOVER FINANCIAL SERVICES, Tuesday close $56.67

The credit card issuer reported a first-quarter profit that beat Wall Street estimates as its high-spending customers more than made up for the slower growth in overall U.S. consumer spending.

The company said total loans rose 6 percent, while credit card loans increased 5 percent in the quarter ended March 31 - a period when U.S. consumer spending slowed.

** POPULAR INC, Tuesday close $29.45

Puerto Rico’s largest bank Popular Inc is in advanced talks to sell some of its mainland branches in the United States to multiple buyers, the Wall Street Journal reported Tuesday, citing people familiar with the matter. (Compiled by Rohit T.K. in Bangalore; Editing by Joyjeet Das)

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