July 23, 2015 / 2:27 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Inotek, Cara, SanDisk, Logitech, GM

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The Nasdaq composite and S&P 500 rebounded on Thursday, while Dow was lower on weak earnings from bellwethers such as 3M and Caterpillar. The Dow Jones industrial average was down 0.12 percent at 17,829.26, the S&P 500 was up 0.02 percent at 2,114.67 and the Nasdaq Composite was up 0.27 percent at 5,185.834.

** INOTEK PHARMACEUTICALS CORP, $8.1, +54.88 pct

The company said lead drug, trabodenoson, was ready to enter late-stage trial for testing in glaucoma patients, following feedback from the U.S. FDA.

** CARA THERAPEUTICS INC, $19.551, +23.43 pct

The biotech said its experimental drug was successful in mid-stage study in patients with uremic pruritus, a chronic systemic itch seen in patients with renal failure, often receiving hemodialysis.

** SANDISK CORP, $64.168, +18.43 pct

Data storage products maker reported a quarterly profit that was double what analysts had expected, helped by higher retail sales and new products.

** LOGITECH INTERNATIONAL SA, $14.91, +12.27 pct

The Swiss-American gadget maker posted better-than-expected quarterly revenue and earnings per share.

** CATERPILLAR INC, $78.17, -1.99 pct

The World’s largest construction and mining equipment maker’s reported a lower quarterly net profit and sales on Thursday due to weakness in mining, slower construction in Brazil and China, and declining orders for oil-related applications.

** GENERAL MOTORS CO, $31.65, +4.46 pct

The automaker reported adjusted net income that more than doubled in the second quarter, driven by North American truck sales and continued strength in China.

** UNDER ARMOUR INC, $96.74, +8.25 pct

The sports apparel and footwear maker raised its full-year revenue and profit forecast for the second time in three months as strong demand for its celebrity-endorsed products helped the sportswear maker beat quarterly sales estimates.

** UNITED CONTINENTAL HOLDINGS INC, $59.16, +3.66 pct

The company forecast a drop in unit revenue and trimmed plans for capacity growth as the U.S. dollar weighs on demand abroad, but it announced new share buybacks because its profit continues to rise.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $248.51, +4.01 pct

Canadian drugmaker reported a better-than-expected quarterly profit, helped by strength in its dermatology business in the United States.

** CIGNA INC, $154.32, +2.15 pct

** ANTHEM INC, $154.6, -0.32 pct

The U.S. health insurer Anthem is close to finalizing negotiations to acquire peer Cigna and could announce a roughly $48 billion deal as early as this week, two people familiar with the matter said on Wednesday.

** SOUTHWEST AIRLINES CO, $37.63, +7.15 pct

The Dallas-based airline reported second-quarter earnings per share slightly above analysts’ expectations but forecast that unit revenue will inch down in the third quarter as its capacity grows.

** DOW CHEMICAL CO, $48.52, -2.96 pct

The company reported a better-than-expected quarterly profit as the company’s operating margins rose for the eleventh quarter in a row, helped largely by low raw material costs at its plastics-making business.

** FREEPORT-MCMORAN INC, $14.63, -2.86 pct

The Diversified U.S. miner and energy company reported a sizeable second-quarter net loss on Thursday, reflecting a big write-down for the value of its oil and gas properties and slumping prices for the copper, gold and oil that it produces.

** CHEESECAKE FACTORY INC, $57.72, +4.72 pct

The Restaurant and bakery operator reported better-than-expected profit for the second quarter, helped by lower costs and higher sales at company-owned restaurants.

** QUALCOMM INC, $61.72, -3.85 pct

The chipmaker said it may break itself up as it delivered its third profit warning this year and announced plans to slash jobs and spending in the face of rising competition.

** AMERICAN EXPRESS CO, $76.87, -2.68 pct

The Credit card issuer reported a better-than-expected second-quarter profit as it benefited from cost-savings after cutting jobs.

** DUNKIN’ BRANDS GROUP INC, $54.755, -3.14 pct

The company reported a 11 percent rise in quarterly revenue, helped by more traffic at its Dunkin’ Donuts outlets and licensing fees from sales of its K-Cups coffee pods.

** 3M CO, $150.86, -2.93 pct

The Diversified manufacturer reported tepid second-quarter sales on Thursday and lowered its full-year forecasts for revenue and earnings due to slower-than-expected global growth.

** TEXAS INSTRUMENTS INC, $50.525, +2.48 pct

The company forecast third-quarter revenue below analysts’ expectations due to weak demand for its chips used in PCs and industrial and communications equipment.

** ABB LTD, $20.92, +2.60 pct

The company said on Thursday its net profit fell 8 percent in the second quarter due to a drop in demand for the Swiss company’s oil and gas products, slower-than-expected business in the United States, soft demand from China and a strong dollar.

** PRECISION DRILLING CORP, $5.37, +4.68 pct

** PATTERSON-UTI ENERGY INC, $17.38, +4.07 pct

Two North American land drilling-rig operators issued positive outlooks on Thursday, highlighting the competitive advantage of drillers using newer, high-tech rigs. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)

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