October 22, 2014 / 11:24 AM / 3 years ago

BUZZ-U.S. Stocks on the Move-Dow, Tesla, J&J, Boeing, Yahoo, VMWare

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U.S. stock index e-mini futures were little changed on Wednesday: Dow Jones industrial average futures were down 0.03 percent at 16,542, S&P 500 futures were down 0.19 percent at 1,934.25 and Nasdaq 100 futures were down 0.09 percent at 3,968.

** DOW CHEMICAL CO, Tuesday close $48.21, +4.23 pct premarket

The No. 1 U.S. chemical maker by sales reported a 43 percent rise in quarterly profit, helped by higher sales in its plastics and performance materials business units.

** JOHNSON & JOHNSON, Tuesday close $100.36, +1.63 pct premarket

J&J is accelerating work on its experimental Ebola vaccine and aims to produce 1 million doses next year, 250,000 of which are expected to be available by May.

** BOEING, Tuesday close $127.12, +0.69 pct premarket

The aircraft makers and Commercial Aircraft Corp of China have launched a joint pilot project to turn used cooking oil into jet fuel.

Their plant, based in the southeastern Chinese city of Hangzhou, will be able to convert just under 240,000 liters of used cooking oil into fuel a year, Boeing said in a statement.

** YAHOO INC, Tuesday close $40.18, +3.29 pct premarket

Yahoo’s CEO is trying to steer investor focus away from the tech company’s stagnant revenue and toward achievements and growth prospects that have been flying below the radar.

Chief Executive Marissa Mayer spent much of Tuesday’s earnings call highlighting improvements in Yahoo’s mobile business, the benefits from acquisitions and billions of dollars in buybacks.

** COCA-COLA CO, Tuesday close $40.68, -0.27 pct premarket

The world’s largest beverage maker announced new cost-cutting measures on Tuesday and a timeline for selling its bottling operations after its quarterly profit slumped 14 percent as it the struggled to find growth amid a soft market for soda.

The company said it would hand back, or refranchise, about two-thirds of its North American bottling territories by the end of 2017.

** APPLE INC, Tuesday close $102.47, -0.12 pct premarket

The iPhone maker and GT Advanced Technologies Inc struck an agreement on Tuesday that will let GT begin the shutdown of key Arizona operations, and shed some more light on why the former stock market darling abruptly filed for bankruptcy this month.

** XEROX INC, Tuesday close $13.2, -1.06 pct premarket

Xerox reported a 2 percent fall in quarterly revenue, hurt by slowing demand in its printing business.

** TESLA MOTORS INC, Tuesday close $235.34, -0.57 pct premarket

Michigan Governor Rick Snyder signed a bill on Tuesday that will keep the electric carmaker from selling its cars directly to consumers in the state, home to the biggest U.S. automakers.

** VERIZON COMMUNICATIONS INC, Tuesday close $48.69, -0.31 pct premarket

Verizon’s quarterly revenue rose 4.3 percent, matching forecasts, as price cuts attracted more customers and growing mobile video traffic boosted data usage.

** VMWARE INC, Tuesday close $88.19, -4.42 pct premarket

The software maker forecast current-quarter revenue largely below Wall Street’s estimates due to a delay in the closing of a large U.S. government deal and lower bookings in Germany, Russia and Japan in the third quarter.

** IROBOT CORP, Tuesday close $31.61, +11.10 pct premarket

The robot maker’s third-quarter profit nearly doubled and revenue and profit both beat analysts’ average estimates. The company also raised its full-year profit forecast on Tuesday.

IRobot said orders in both its home as well as defense and security businesses that were originally expected in the fourth quarter were received and delivered in the third quarter.

** OCWEN FINANCIAL CORP, Tuesday close $21.48, -5.73 pct premarket

Ocwen may have harmed hundreds of thousands of borrowers by sending backdated letters about loan modifications and foreclosures, New York state’s financial regulator said on Tuesday, sparking a selloff in shares of the mortgage servicer.

** AMGEN INC, Tuesday close $144.09

Hedge fund manager Daniel Loeb told investors on Tuesday that he had urged the U.S. biotechnology company to split into two separate businesses, a move that he said could boost its share price by more than 80 percent.

** MCDONALD‘S CORP, Tuesday close $91.01, -0.55 pct premarket

The world’s largest restaurant chain’s chief executive, Don Thompson, owned up to some corporate image problems on Tuesday after the company posted a nearly one-third drop in quarterly profit and warned that its global restaurant sales would fall again this month.

** INTUITIVE SURGICAL INC, Tuesday close $495.77

Intuitive showed signs on Tuesday of bouncing back from a difficult first half of the year as sales of its da Vinci robotic surgical systems increased in the third quarter, as did procedures using the company’s high-priced machines.

** VERTEX PHARMACEUTICALS INC, Tuesday close $108.16

A U.S. Food and Drug Administration advisory panel voted 13-2 on Tuesday to recommend expanding approval of Vertex’s cystic fibrosis drug Kalydeco to include a wider range of patients with the rare lung disease, the company said.

** BGC PARTNERS INC, Tuesday close $7.49

The interdealer broker went ahead with its hostile $675 million bid for rival GFI Group Inc after talks between the two companies reached a deadlock.

** SONIC CORP, Tuesday close $23.57, +4 pct after market

The drive-in restaurant chain operator’s fourth-quarter sales beat the average analyst estimate helped by a 4.6 percent rise in same-store sales growth.

The company said it expects fiscal 2015 same-store sales to grow in “low single digit” percentage range, and drive-in margins to improve 50-100 basis points.

** ALLERGAN INC, Tuesday close $10.56

** VALEANT PHARMACEUTICALS, Tuesday close $130.38

Allergan said on Tuesday it saw no evidence to support claims by hostile suitors Valeant Pharmaceuticals and hedge fund Pershing Square Capital Management that its chief executive had spearheaded a campaign to spread misinformation.

** BROADCOM, Tuesday close $37.33

Broadcom on Tuesday posted third-quarter results that exceeded Wall Street’s expectations as the chipmaker focused on networking and smartphone chips. (Compiled by Shailaja Sharma in Bangalore; Editing by Simon Jennings)

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