July 21, 2015 / 1:17 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Tesla, United Tech, IBM, Lexmark

(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 slightly lower on Tuesday ahead of a raft of earnings from technology giants, including Apple . Dow Jones industrial average futures were down 0.41 percent at 17,930, S&P 500 futures were down 0.16 percent at 2,118.5 and Nasdaq 100 futures were up 0.01 percent at 4,671.75.

** TESLA MOTORS INC, Monday close $282.26, -4.19 pct premarket

Analysts at UBS downgrade the third rating cut on Tesla this month (Deutsche Bank and StarMine 4-star ranked Pacific Crest earlier). UBS says energy storage business cheered on by investors and is unlikely to live up to expectations. Meanwhile theinformation.com blog writes about cash burn at Tesla, adding the company might have to raise funds again (link: bit.ly/1TNLQgu).

** UNITED TECHNOLOGIES CORP, Monday close $110.48, -4.29 pct premarket

The company which agreed on Monday to sell its Sikorsky helicopter business, cut its full-year profit outlook on Tuesday as it warned of pressures in its aerospace systems and Otis elevators businesses.

** INTERNATIONAL BUSINESS MACHINES CORP, Monday close $173.22, -5.91 pct premarket

The technology services company’s revenue fell for the 13th consecutive quarter and missed the average analyst estimate, as it continued to shed low-margin businesses and the strong dollar weighed on Big Blue’s results.

** TRAVELERS COS INC, Monday close $102.61, +1.60 pct premarket

The property and casualty insurer reported a stronger-than-expected quarterly net profit as catastrophe losses almost halved and the company recorded a gain from the resolution of tax issues.

** HARLEY-DAVIDSON INC, Monday close $54.94, +5.11 pct premarket

The motorcycle maker posted a lower quarterly net profit as the strong U.S. dollar hurt international sales while the company’s foreign competitors cut prices. The company beat analysts’ expectations for income.

** LEXMARK INTERNATIONAL INC, Monday close $47.32, -11.24 pct premarket

The printer maker said it would cut 500 jobs, or about 4 percent of its global workforce, as the company integrates its recently acquired businesses and tries to soften the impact of a strong dollar.

** NOVAVAX INC, Monday close $12.43, +5.79 pct premarket

The company said its experimental Ebola vaccine induced a substantial immune response to the deadly infection in an early-stage trial involving 230 healthy adults.

** QUALCOMM INC, Monday close $63.79, +1.00 pct premarket

The company is expected to conduct a strategic review that may result in the breakup of the company, among other options, the Wall Street Journal reported on Monday citing sources.

** VERIZON COMMUNICATIONS INC, Monday close $48.1, -2.81 pct premarket

The biggest U.S. wireless service provider, reported a better-than-expected rise in quarterly profit as more users signed up for its postpaid wireless services and subscriber defections fell to a three-year low.

** CAESARS ENTERTAINMENT CORP, Monday close $6.55, +1.98 pct premarket

The company reached an agreement with its lenders late on Monday night, hours after a New York state court judge threw out a lawsuit by the casino company against a group of creditors known as the second-lien noteholders.

** TD AMERITRADE HOLDING CORP, Monday close $38.36, +0.05 pct premarket

The biggest discount brokerage by trade executions, reported a 3.7 percent rise in quarterly profit, driven by strong growth in trading.

** BAKER HUGHES INC, Monday close $59.46, -0.77 pct premarket

The oilfield services provider which is being acquired by larger rival Halliburton Inc, posted a quarterly loss, compared with a year-ago profit, as a steep drop in oil prices kept a lid on drilling activity.

** DEPOMED INC, Monday close $32.73, +0.00 pct premarket

** HORIZON PHARMA PLC, Monday close $38.31, +0.50 pct premarket

Ireland-based Horizon Pharma said it raised its offer to buy smaller drugmaker Depomed to $33 per share, contingent on Depomed agreeing to start takeover talks.

** PINNACLE ENTERTAINMENT INC, Monday close $39.75, +3.77 pct premarket

** GAMING AND LEISURE PROPERTIES INC, Monday close $34.77, +6.10 pct premarket

Gaming and Leisure Properties which leases real estate to casino operators, said it would buy Pinnacle Entertainment’s real estate assets in a deal that gives the assets an enterprise value of $4.75 billion.

** CHESAPEAKE ENERGY CORP, Monday close $10.27, -1.66 pct premarket

The second-largest U.S. natural gas producer said it would suspend dividend payments starting in the current quarter to save up to $240 million a year.

** NOVARTIS AG, Monday close $106.12, -1.12 pct premarket

The Swiss drugmaker was hit by a weak performance from eyecare division Alcon and a strong dollar in the second quarter, scuppering hopes that the Swiss drugmaker would raise its 2015 financial outlook.

** OMNICOM GROUP INC, Monday close $74.06, +0.19 pct premarket

The biggest U.S. advertising company, reported quarterly revenue that beat analysts’ average estimate, helped by a rise in spending in North America.

** CANADIAN NATIONAL RAILWAY CO, Monday close $59.99, +1.97 pct premarket

Canada’s biggest railway reported stronger-than-expected second-quarter earnings and said it continues to expect double-digit growth in earnings per share for the full year on Monday, even as shipment volume slipped. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below