January 14, 2015 / 1:07 PM / 4 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Tesla, GameStop, KB Home, ARIAD Pharma

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U.S. stock index e-mini futures fell on Wednesday: Dow Jones industrial average futures were down 0.50 percent at 17,447, S&P 500 futures were down 0.50 percent at 2,006 and Nasdaq 100 futures were down 0.39 percent at 4,142.25.

** TESLA MOTORS INC, Tuesday close $204.25, -6.71 pct premarket

Chief Executive Elon Musk said on Tuesday that the electric luxury car maker’s sales in China were “unexpectedly weak” during the fourth quarter.

The company plans to boost production of electric cars to “at least a few million a year” by 2025 from fewer than 40,000 last year, Musk said.

** GAMESTOP CORP, Tuesday close $33.77, +9.86 pct premarket

The world’s largest retailer of video game products, said December same-store store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.

** ARIAD PHARMACEUTICALS INC, Tuesday close $6.37

The drugmaker said it expects to rake in about $55 million in net sales for its cancer drug Iclusig.

** BLACKBERRY LTD, Tuesday close $9.71

Demand for the Canadian smartphone maker's software for managing employees' smartphones is declining, Globe and Mail reported, citing a Morgan Stanley survey of 150 chief information officers in the U.S. and Europe (bit.ly/1Is2212)

** PROGRESS SOFTWARE CORP, Tuesday close $26.4

The enterprise software maker forecast FY 2015 profit well below estimates, citing acquisition-related financing and a stronger dollar.

Progress Software also reported lower-than-expected fourth-quarter profit

** GOLDMAN SACHS GROUP INC, Tuesday close $185.07

The banker had to write down its loan to the troubled Portuguese bank Banco Espirito Santo SA BES.LS in the fourth quarter, cutting the bank’s profit and some employees’ bonuses, people familiar with the matter told Reuters.

** ALIBABA GROUP HOLDING LTD, Tuesday close $101.62, -0.17 pct premarket

The Chinese e-commerce giant said it had bought a controlling stake in online marketing company AdChina, an investment aimed at bolstering its advertising business.

** APPLE INC, Tuesday close $110.22, +0.12 pct premarket

** GOOGLE INC, Tuesday close $501.8, +0.04 pct premarket

Four Silicon Valley companies including Apple and Google have agreed to a new settlement that would resolve an antitrust class action lawsuit by tech workers, who accused the firms of conspiring to avoid poaching each other’s employees.

Separately, Swedish telecom equipment supplier Ericsson said on Wednesday that it has filed a complaint against Apple over mobile technology licences, hitting back at the iPhone maker which sued Ericsson this month.

** CSX CORP, Tuesday close $33.91

The third-largest U.S. railroad company reported on Tuesday a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.

** PETSMART INC, Tuesday close $81.21

The pet supply retailer disclosed on Tuesday that it was in talks to acquire or merge with a privately held rival, but ended talks over competition and antitrust concerns.

** BOEING CO, Tuesday close $130.87

The aircraft maker said on Tuesday that it sees no business case for offering an extended-range version of its largest 737 jet, the forthcoming 737 MAX 9, to compete with a long-range plane that rival Airbus launched on Tuesday.

** KB HOME, Tuesday close $16.57, -2.02 pct premarket

The No. 5 U.S. homebuilder said it expected a “significant” drop in gross margins in the quarter ending Feb. 28.

** ALLY FINANCIAL INC, Tuesday close $22.57

The financial services company will overcome General Motors Co’s decision to stop using the lender for discounted leases on new cars by expanding business with dealers for other automakers, a spokeswoman said late Monday.

** GILEAD SCIENCES INC, Tuesday close $97.21, -0.01 pct premarket

** ABBVIE INC, Tuesday close $65.76

A pharmacy benefit manager said it would cover both Gilead and rival AbbVie Inc’s hepatitis C offering, renewing concerns of pricing pressure.

** CAESARS ENTERTAINMENT CORP, Tuesday close $12.63

Junior creditors of the casino operator moved on Tuesday to put on hold the expected bankruptcy of the casino company’s operating unit, which has said it could file for Chapter 11 as soon as Thursday.

** MCDONALDS’S CORP, Tuesday close $93.01

The operator of McDonald’s in Japan and Cargill Inc have not discovered any link between a Cargill-owned plant in Thailand and a strip of plastic found in a chicken nugget this month that sparked uproar over product safety at the fast-food chain.

** TRANSDIGM GROUP, Tuesday close $201.25

The U.S. aerospace components maker and European buyout groups Cinven and EQT are all exploring an acquisition of cargo handler Telair in a potential $700-800 million deal, two people familiar with the transaction said.

** SUNCOR ENERGY INC, Tuesday close $28.67

Canada’s largest oil and gas company said on Tuesday it would cut about 1,000 employees and contractors, freeze hiring and slash C$1 billion ($837 million) in capital spending in response to falling crude oil prices.

** ZELTIQ AESTHETICS INC, Tuesday close $27.9

The medical device maker estimated fourth-quarter revenue of $51 million-$52 million, compared with analysts’ estimate of $49.6 million.

Zeltiq said it expects 2015 revenue of about $230 million, above the $215.7 million estimated by analysts. (Compiled by Yashaswini Swamynathan in Bengaluru; Editing by Simon Jennings)

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