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U.S. stocks were lower on Thursday on weak earnings from bellwethers such as 3M and Caterpillar. The Dow Jones industrial average was down 0.52 percent at 17,758.47, the S&P 500 was down 0.40 percent at 2,105.79 and the Nasdaq Composite was down 0.23 percent at 5,159.723.
** INOTEK PHARMACEUTICALS CORP, $15.34, +193.31 pct
The drug developer’s lead drug, trabodenoson, ready to enter late-stage trial for testing in glaucoma patients, following feedback from the U.S. FDA.
** FLOTEK INDUSTRIES INC, $17.1, +33.70 pct
Stephens raises price target on the specialty chemicals and drilling equipment distributor after Flotek reports surprise Q2 profit and higher-than-expected revenue on Wednesday.
** NEOS THERAPEUTICS INC, $19.4, +29.33 pct
The company which develops extended-release oral medications to treat attention deficit hyperactivity disorder (ADHD), raises $72 million from the offering of 4.8 million shares at $15 each.
** CARA THERAPEUTICS INC, $20.38, +28.66 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, $63.88, +17.90 pct
Data storage products maker reported a quarterly profit that was double what analysts had expected, helped by higher retail sales and new products. At least four brokerages raise price targets on Thursday by as much as $6 to as much as $81; BofA Merrill, B. Riley raise ratings to “buy”
** LOGITECH INTERNATIONAL SA, $14.67, +10.47 pct
The Swiss-American gadget maker posted better-than-expected quarterly revenue and earnings per share.
** 3M CO, $150.24, -3.33 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.
** CATERPILLAR INC, $76.69, -3.85 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, $31.58, +4.22 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.
** ADEPTUS HEALTH INC, $101.3, +16.17 pct
The healthcare operator raises full-year systemwide revenue forecast to $400 million -$405 million from $388 million -$393 million, citing strong second quarter.
** MERGE HEALTHCARE INC, $5.545, +10.02 pct
The medical technology services provider reported higher-than-expected revenue and profit for the second quarter, helped by strong sales of health information systems.
** NEURALSTEM INC, $1.82, +8.33 pct
U.S. district court ruled in company’s favour, dismissing StemCells Inc’s claims in a patent infringement case.
** UNDER ARMOUR INC, $96.28, +7.73 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 RENTALS INC, $68.69, -11.52 pct
The world’s largest equipment rental company reported lower-than-expected revenue for the second quarter hurt by a drop in oil and gas activity.
** LASALLE HOTEL PROPERTIES, $33.97, -10.08 pct
The hotel operator’s forecast for the third quarter misses wall street estimates. The company cites decline in citywide events in many of its markets in the third quarter for weak forecast.
** SELECT COMFORT CORP, $25.555, -10.62 pct
Stifel Nicolaus cuts price target after the mattress maker said it will incur costs this year related to implementation of Enterprise Resource Planning system.
** FORTINET INC, $47.66, +12.67 pct
The security software maker reported revenue, profit above analysts’ estimates. At least 14 brokerages raise their PTs to as high as $60 after second quarter results.
** RAYTHEON CO, $104.1, +7.33 pct
The U.S. weapons maker’s profit for the second quarter beats average analyst estimate, fueled by strong international demand for its weapons systems.
** WESCO INTERNATIONAL INC, $62.5, -4.96 pct
The electrical and industrial maintenance supplies maker reported lower-than-expected profit, revenue, for the second quarter, hurt by strong dollar, weakness in industrial market and a slow seasonal start in the non-residential construction market.
** COVANTA HOLDING CORP, $18.99, -6.91 pct
The energy-from-waste project operator reports surprise loss for the second quarter, mainly due to lower market pricing for metals and energy.
** MARINEMAX INC, $19.17, -13.30 pct
Wedbush cuts price target on the reccreational boat retailer to $22 from $24; B.Riley cuts it to $26 from $27. April sales were strong spurred by a catch-up in deliveries following another weather-plagued month of March, May sales were particularly bad, Wedbush analyst James Hardiman writes in a note.
** TRUEBLUE INC, $26.24, -7.28 pct
Staffing company reported revenue for the second quarter below average analyst estimate and forecasts lower-than-expected 2015 profit.
** CABELA‘S INC, $46.42, -10.25 pct
Outdoor specialty merchandise retailer‘S profit and sales for the second quarter miss analysts’ estimates on steeper-than-expected fall in same-store sales.
** STMICROELECTRONICS NV, $8.02, +8.09 pct
Franco-Italian chipmaker says expects modest growth in communications, industrial and automotive markets in H2 2015.
** LIVE OAK BANCSHARES INC, $18.78, +10.47 pct
The company disclosed in its IPO prospectus that it had “conversations with five institutional accredited investors” in Jan about a 4-mln-share private placement but elected the public route.
** DEL FRISCO‘S RESTAURANT GROUP INC, $14.41, -16.22 pct
The restaurant chain owner cuts full-year earnings per share and comparable restaurant sales growth.
** INTER PARFUMS INC, $29.65, -9.91 pct
The fragrance maker Cuts low end of FY profit forecast, citing weakness in China, eastern Europe.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $251.52, +5.27 pct
Canadian drugmaker reported a better-than-expected quarterly profit, helped by strength in its dermatology business in the United States.
** CIGNA INC, $153.96, +1.91 pct
** ANTHEM INC, $154.95, -0.10 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, $36.65, +4.36 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, $47.42, -5.16 pct
The company warned of soft demand in China, raising concerns that the largest U.S. chemical maker by revenue would not be able to maintain its growth rate in the key market.
** FREEPORT-MCMORAN INC, $13.51, -10.29 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, $56.77, +2.99 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, $61.52, -4.16 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, $76.76, -2.82 pct
The Credit card issuer reported a 5 pct fall in profit for the second quarter on Wednesday as stronger dollar reduced revenue from markets outside the United States
** GULFMARK OFFSHORE INC, $9.02, +5.62 pct
The offshore rig contractor posted smaller-than-expected loss for the second quarter, helped by lower expenses.
** DUNKIN’ BRANDS GROUP INC, $53.86, -4.72 pct
The company disappointed investors by not raising its full-year forecast, even though the company reported better-than-expected quarterly profit and revenue. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)