December 10, 2014 / 1:02 PM / 4 years ago

BUZZ-U.S. Stocks on the Move-Goodrich Petroleum, Seadrill, Yamana Gold

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U.S. stock index futures were little changed on Wednesday, a day after stocks staged an intraday rally to end nearly flat after a decline of as much as 1.3 percent. Dow Jones industrial average futures were down 0.20 percent at 17,744, S&P 500 futures were down 0.21 percent at 2,053.25 and Nasdaq 100 futures were down 0.13 percent at 4,285.25.

** GLAXOSMITHKLINE PLC, Tuesday close $44.11, -1.41 pct premarket

Bank of America Merrill Lynch cut its rating to “underperform” from “neutral” on Britain’s biggest drugmaker , citing near-term margin pressures, lower long-term expectations for new respiratory products and reduced buybacks given lower earnings.

** GOODRICH PETROLEUM CORP, Tuesday close $4.09, -6.85 pct premarket

The oil and gas company said it would explore strategic options for all or a part of its Eagle Ford shale assets in South Texas to boost liquidity, as oil prices fall. The company, which had cash and cash equivalents of $2.2 million as of Sept. 30, said this would “significantly enhance” its ability to fund development activities when oil prices recover.

** SEADRILL LTD, Tuesday close $12.17, -2.47 pct premarket

UBS cut its price target on the Norway-based offshore driller’s Oslo-listed shares to NOK 85 from NOK 210, citing lower oil prices. Analysts expect Brent to average below $70/bbl in 2015 and also cited current market condition having a negative affect on demand for deepwater units.

** YAMANA GOLD INC , Tuesday close $4.3, +1.16 pct premarket

Yamana Gold said on Wednesday that it will place some of its Brazilian assets that have been deemed as non-core into a subsidiary dubbed Brio Gold and explore a potential sale along with other options for the unit in 2015.

** COSTCO WHOLESALE CORP, Tuesday close $143.04, +0.81 pct premarket

The warehouse club operator reported a better-than-expected quarterly profit as increased promotions helped the warehouse club operator deal with fierce competition. The company, which caters to relatively higher-income customers than Wal-Mart Stores Inc and Target Corp, reported a 7 percent rise in same-store sales excluding fuel.

** GOLDMAN SACHS, Tuesday close $196.89, -0.68 pct premarket

The U.S. Federal Reserve on Tuesday proposed requiring eight of the largest U.S. banks to hold an extra capital cushion, and said the firms will need more equity if they rely on risky types of debt. Most of the banks, which include Citigroup and Goldman Sachs, would be held to higher capital requirements than under a similar rule by global regulators, officials said.

** NATIONAL BANK OF GREECE, Tuesday close $2.08, -4.33 pct premarket

The largest Greek bank’s U.S.-listed shares continue to fall as government surprises by bringing forward presidential vote, a political gamble that increases uncertainty over Greece’s transition from bailout.

** SONY CORP, Tuesday close $20.7

Sony Corp’s movie studio could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations and exposed sensitive data, according to cyber security experts who have studied past breaches.

** CITIGROUP INC, Tuesday close $55.85, -0.63 pct premarket

Citigroup will record $2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank “marginally profitable” in the fourth quarter, its chief executive officer said on Tuesday.

** BROADCOM CORP, Tuesday close $42.65, +0.12 pct premarket

The chipmaker on Tuesday slightly raised its outlook for fourth-quarter revenue and increased its dividend after abandoning costly competition against Qualcomm Inc in baseband cellphone chips.

** BOEING CO, Tuesday close $129.66

A spending bill agreed by lawmakers from the U.S. House and Senate provides $554.2 billion in funding for the U.S. military in fiscal 2015, including $1.46 billion for 15 EA-18G electronic attack jets built by Boeing.

** DREAMWORKS ANIMATION SKG INC, Tuesday close $21.8

The Hollywood studio said it plans to launch a 24-hour family-oriented television channel in 19 Asian countries during the second half of 2015 as part of its effort to expand television production and distribution.

** NIKE INC, Tuesday close $97.03

The world’s largest sportswear maker is accusing three of its former senior shoe designers of stealing its commercial secrets and making off for German rival Adidas AG, which announced in September the trio would staff its new urban footwear design studio in Brooklyn.

** BELDEN INC, Tuesday close $74.92

The maker of networking and cable products said it will buy Tripwire, a Portland-based cyber security firm, for $710 million. The company said the transaction will add 65 cents per share to adjusted income from continuing operations in 2015.

** FREEPORT-MCMORAN COPPER & GOLD INC, Tuesday close $25.13, -0.52 pct premarket

The U.S. miner has agreed to pay 16.3 percent more in annual processing charges to large Chinese copper smelters in 2015, with the 10-year high fee likely to set the benchmark for China.


The communications equipment maker decides to remain independent after completing review of strategic alternatives. Comtech had begun its review in August, saying that merger or sale of the company was possible.

** KRISPY KREME DOUGHNUTS INC, Tuesday close $20.18

The doughnut retailer on Tuesday reported third-quarter profit and sales below expectations, hurt by higher promotions to boost traffic and lower sales at company-owned stores, compared with a year earlier. (Compiled by Lehar Maan in Bengaluru,; Editing by Simon Jennings)

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