(T(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)) U.S. stock index futures were little changed on Friday, with the S&P on track for a fourth straight weekly advance, ahead of data on consumer sentiment.
Dow Jones industrial average futures were up 0.06 percent at 17,607, S&P 500 futures were up 0.06 percent at 2,035.25 and Nasdaq 100 futures were up 0.05 percent at 4,207.
SKYPEOPLE FRUIT JUICE INC, Thursday close $0.97, +63.92 pct premarket
The fruit juice maker reported a 79 percent jump in third-quarter revenue and a 45 percent jump in profit as more people switched to buying fruit juices from carbonated beverages.
Up to Thursday’s close, stock had fallen 45 percent this year.
** GERON CORP, Thursday close $2.31, +36.80 pct premarket
** JOHNSON & JOHNSON, Thursday close $109.07, +0.24 pct premarket
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.
** ABENGOA, Thursday close $15.05, -51.63 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.
** BAKER HUGHES INC, Thursday close $58.75, +5.40 pct premarket
** HALLIBURTON CO, Thursday close $53.79, +3.92 pct premarket
** SCHLUMBERGER, Thursday close $94.85, +0.90 pct premarket
** WEATHERFORD INTERNATIONAL PLC, Thursday close $16.33, +2.63 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.
** DIGITAL ALLY, Thursday close $13.22, -15.66 pct premarket
The surveillance camera maker’s third-quarter net loss widened due to non-cash charges and higher promotional spending as well as litigation expenses.
** MOVADO GROUP INC, Thursday close $38.51, -22.10 pct premarket
The luxury watch designer cut its full-year sales and profit forecast. The company’s estimated third-quarter sales and profit were below analysts’ average estimate.
** PETROLEO BRASILEIRO SA, Thursday close $10.2, -5.39 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.
** BITAUTO HOLDINGS LTD, Thursday close $79.29, +3.29 pct premarket
The Chinese company which operates automobile-related websites forecasts fourth-quarter revenue above analysts’ average estimate. The company reported better-than-expected third-quarter adjusted profit and revenue, helped by nearly 68 percent revenue rise in its bitauto.com advertising and EP platform businesses.
** TUBEMOGUL INC, Thursday close $18.01, +12.44 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.
** PUMA BIOTECHNOLOGY INC, Thursday close $239.49, -7.51 pct premarket
The company said its cancer drug, neratinib, failed as a primary treatment for breast cancer patients in a mid-stage study.
Investors and bankers view Puma as one of the likely takeover targets as federal actions against tax inversion deals are expected to push big pharmaceutical companies to buy small companies with promising compounds.
** ENLINK MIDSTREAM PARTNERS LP, Thursday close $29.43, -6.18 pct premarket
The oil and gas pipeline operator commenced a public offering of 10.5 million common units, or about 5 percent of its outstanding units. It plans to use the proceeds for capital expenditures.
** HERTZ GLOBAL HOLDINGS INC, Thursday close $22.73, -2.11 pct premarket
The car rental company said it would restate 2012 and 2013 financial results following an ongoing review that showed accounting errors.
** NOKIA, Thursday close $8.26, -3.87 pct premarket
** ERICSSON, Thursday close $12.06, -0.33 pct premarket
Finnish telecoms equipment maker Nokia said it expects operating margins in 2015 to be in line with its raised long-term target of 8-11 percent. “Expectations for 2015 (margin) have been on the upper end of that range, so perhaps that guidance was a slight disappointment for the market,” said Inderes analyst Mikael Rautanen.
Nokia, which on Friday is holding its first capital markets day in five years, is expected to shed light on how it can sustain profitability as the build-out of faster 4G networks has begun to peak in many parts of the world.
The presentations come a day after market leader Ericsson announced plans to cut costs to help it cope with weaker growth prospects in the market.
** SINA CORP, Thursday close $41.85, -3.46 pct premarket
The Chinese internet firm’s fourth-quarter revenue forecast missed analysts’ average estimate.
Stifel Nicolaus cut rating on company’s stock to “hold” from “buy”. At least four other brokerages including Piper Jaffray and Jefferies & Co cut target price, by as much as $10 to as low as $45.
In order to offset slower portal-based ad revenue, company will be increasingly investing in new vertical opportunities that may take over a year to manifest, Piper Jaffray said.
** HARLEY-DAVIDSON INC, Thursday close $67.65, +1.85 pct premarket
The iconic motorcycle company’s stock was back in positive territory for the year, after Goldman Sachs upgrades stock to “buy”. The brokerage, which sees a 20 pct upside for the stock, has held a “neutral” rating since January last year.
The stock’s valuation discount to 10-year averages is not justified, Goldman says, adding another catalyst for stock could be returning excess cash to shareholders via buybacks or increased dividends as company has few M&A aspirations.
** BLACKBERRY LTD, Thursday close $12.06, -3.23 pct premarket
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.
** YOUKU TUDOU INC, Thursday close $21.25, -3.06 pct premarket
The Chinese online video company reported third-quarter revenue below analysts’ average estimate and said Chief Executive Officer Ge Xu had resigned citing personal reasons.
** COEUR MINING INC, Thursday close $3.8, -3.68 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.
** NORDSTROM INC, Thursday close $73.25, +3.09 pct premarket
The apparel retailer reported a better-than-expected third-quarter profit, helped by new store openings and men’s apparel company Trunk Club acquisition. Revenue increased nearly 9 percent to $3 billion.
Barclays, Deutsche Bank and at least three other brokerages raise their price target on the stock.
** APPLIED MATERIALS INC, Thursday close $22.62, -1.86 pct premarket
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.
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 being priced at $23, slightly below the top end of the expected range of $21-$24 per share. (Compiled by Anet Josline Pinto in Bangalore; Editing by Savio D‘Souza)