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U.S. stocks opened higher on Tuesday after its worst three-day drop since November 2011 as investors turned their focus away from global growth concerns and towards corporate earnings. The Dow Jones industrial average was up 0.34 percent at 16,376.33, the S&P 500 was up 0.41 percent at 1,882.35 and the Nasdaq Composite was up 0.46 percent at 4,232.95.
** JPMORGAN CHASE & CO, $57.56, -1.03 pct
The biggest U.S. bank boosted revenue from trading and investment banking, and moved past the huge legal claims that pushed it into a rare loss in the same quarter last year. The bank recorded net income of $1.36 per share. Analysts had expected earnings of $1.38 per share.
** CITIGROUP INC, $50.76, +1.72 pct
The third-largest U.S. bank said it would pull out of consumer banking in 11 markets, including Japan and Egypt, as the most international U.S. bank focuses on more profitable businesses.
** WELLS FARGO & CO, $49.51, -1.37 pct
The fourth-largest U.S. bank and biggest mortgage lender, reported a 1.7 percent rise in third-quarter profit as its mortgage business stabilized.
The San Francisco-based bank’s net income applicable to common shareholders rose to $5.41 billion, or $1.02 per share, in the quarter, in line with analysts’ expectations.
Interactive graphic on bank earnings: (here)
** DOMINO’S PIZZA INC, $80.92, +6.87 pct
The second-largest U.S. pizza chain by store count reported a quarterly profit that topped Wall Street’s estimates, boosted by strong results overseas and its home market of the United States, where rival Pizza Hut is struggling.
** VERSAR INC, $4.8, +33.33 pct
** ALPHA PRO TECH LTD, $7.8, -22.39 pct
** TEKMIRA PHARMACEUTICALS CORP, $23.07, -2.62 pct
** SHARPS COMPLIANCE CORP, $4.9999, -9.91 pct
Protective gear maker Versar rose while shares of other small medical equipment and biotech companies that either develop Ebola treatments or provide protective gear were down.
Take A Look-World on alert to curb Ebola outbreak
Interactive graphic on the Ebola outbreak: (here)
** JOHNSON & JOHNSON, $97.49, -1.64 pct
The diversified healthcare company reported better-than-expected quarterly earnings, fueled by surging sales of a new drug for hepatitis C that are expected to evaporate in coming months due to competition from a more potent and convenient combination treatment.
** MAGNEGAS CORP, $1.179, +4.34 pct
The alternative fuel maker signed a deal with Pioneer Recycling LLC to treat liquid medical waste and expired pharmaceutical products. “The recent Ebola outbreak underscores the need for new and more efficient ways to treat these waste streams,” said Pioneer CEO Carl Dilley.
** SKYWORKS SOLUTIONS INC, $48.805, +7.69 pct
The analog chipmaker estimated quarterly profit and revenue above its forecast. Skyworks said it now expects a profit of $1.08 per share on revenue of $718 million for its fourth quarter ended September. The company earlier forecast of a profit of $1 per share and revenue of $680 million.
** SIGNET JEWELERS LTD, $105.31, -2.39 pct
The parent of Kay Jewelers said Chief Executive Michael Barnes resigned to be closer to his family in the United States. Barnes spearheaded the company’s $690 million buyout of smaller rival Zale Corp in February.
** MARINE HARVEST, $12.98, +3.43 pct
The world’s largest fish farmer posted higher-than-expected operating earnings for the third quarter, despite the impact of warmer waters and marine parasites that killed unusually high numbers of its fish. The Norwegian company is controlled by shipping tycoon and billionaire John Fredriksen. (Compiled by Anya George Tharakan in Bangalore; Editing by Sriraj Kalluvila)