November 14, 2014 / 12:17 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-Geron, Baker Hughes, Abengoa, Petrobras, BlackBerry

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter,; for the Morning News Call newsletter, U.S. stock index e-mini futures inched up on Friday: Dow Jones industrial average futures were up 0.03 percent at 17,602, S&P 500 futures were up 0.04 percent at 2,034.75 and Nasdaq 100 futures were up 0.10 percent at 4,209.

** GERON CORP, Thursday close $2.31, +45.89 pct premarket

** JOHNSON & JOHNSON, Thursday close $109.07

Geron licensed its cancer compound, the last in its pipeline, to a unit of J&J for up to $935 million, in a welcome break to the company whose stock price has dropped from a high of $71.69 in 2000 to $2.31 on Thursday.

** BAKER HUGHES INC, Thursday close $58.75, +3.83 pct premarket

** HALLIBURTON CO, Thursday close $53.79, +0.76 pct premarket

** SCHLUMBERGER, Thursday close $94.85, +0.04 pct premarket


Oilfield services provider Baker Hughes is in preliminary merger talks with its larger rival Halliburton. A tie up between the No. 2 and No. 3 players might allow them to better weather the downturn, resist pressure from oil producers to slash prices and better compete with industry leader Schlumberger.

Weatherford, a much smaller rival, has long been seen as vulnerable.

** ABENGOA, Thursday close $15.05, -35.15 pct premarket

The U.S.-listed stock of Spanish energy company’s Abengoa fall a day after its bonds were hammered in secondary market as comments made on a results call raised concerns about how Abengoa accounts for its debts, IFR reported.

The stock, in Spain, had hit its lowest intraday levels since February on Thursday after the company cuts 2014 revenue forecast.

** TUBEMOGUL INC, Thursday close $18.01, +11.05 pct premarket

The advertising software maker reported third-quarter revenue doubled and beat the average analyst estimate as the company signed up more clients. TubeMogul forecasts fourth-quarter and full-year revenue above market estimates.

RBC raised it price target on the stock to $21 from $13. Up to Thursday’s close, stock has risen 157 percent since its debut on July 18.

** PETROLEO BRASILEIRO SA, Thursday close $10.2, -4.31 pct premarket

The Brazilian state-run oil company delayed the release of its third-quarter earnings report to allow more time to investigate corruption allegations. The company, known as Petrobras, plans to report its earnings on Dec. 12 and not on Friday, the last day it could have done so without incurring hefty fines.

** BLACKBERRY LTD, Thursday close $12.06

The Canadian smartphone maker announced partnerships with Samsung Electronics Co and other high-profile tech players, broadening the reach of its new mobile-device management and security platform.

** COEUR MINING INC, Thursday close $3.8, -4.47 pct premarket

CIBC World Market Inc analysts cut its rating on the silver miner’s stock to “sector underperform”. “The CIBC silver price forecast has rapidly deteriorated in the face of a sharp slide in precious metal prices over the past month,” CIBC analysts wrote in a note.

** CHINA FINANCE ONLINE CO LTD, Thursday close $6.56, -2.90 pct premarket

The Chinese web-based financial services company changed its auditor earlier this month, according to a regulatory filing on Friday. There were no disagreements between the company and the auditor, Grant Thornton China, the filing added.

** GLAXOSMITHKLINE, Thursday close $45.66, +0.53 pct premarket


The private equity firm, run by Leon Black, is planning to bid for all of GlaxoSmithKline’s mature drugs, joining an auction expected to value the business at more than $3 billion, according to four people familiar with the process. GSK had asked for final bids by early next week.

** STARBUCKS CORP, Thursday close $77.89

** AMAZON.COM INC, Thursday close $316.48

** APPLE INC, Thursday close $112.82

A deal between Starbucks and Dutch authorities may be illegal state aid as it allows the world’s biggest coffee chain to make payments on a lower corporate income tax base, European Union antitrust regulators said.

The comments by the European Commission came five months after it opened an in-depth investigation. The probe into so-called sweetheart deals which the Commission said may give the companies an unfair advantage also involve Amazon, Apple and Italian carmaker Fiat.

** ORACLE CORP, Thursday close $40.72

** SAP SE, Thursday close $66.63

The two enterprise software rivals have settled a fierce long-running copyright litigation for $356.7 million over improper downloads of Oracle files.

** APPLIED MATERIALS INC, Thursday close $22.62

The top chip gear-maker posted higher fiscal fourth-quarter results but its outlook for the first quarter was shy of Wall Street’s expectations.

Jefferies cut its price target on the stock to $27 from $28 and B Riley cut to $24.50 from $25.00.

** BOSTON SCIENTIFIC CORP, Thursday close $13.41

The medical device maker was ordered to pay four women a total of $26.7 million after it was found liable for selling faulty transvaginal mesh devices, following one of the first federal trials resulting from thousands of lawsuits over the devices.


The low-cost U.S. offshoot of Richard Branson’s London-based Virgin Group is expected to debut on Friday.

The IPO of 13.3 million shares, of which Virgin America sold 13.1 million, raised about $307 million after it was priced slightly below the expected range of $21-$24 per share. (Compiled by Anet Josline Pinto in Bangalore; Editing by Savio D’Souza)

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