(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. stocks looked set to snap a two-day losing streak on Thursday after Citigroup led a recovery in financial stocks and investors absorbed mixed economic data. The Dow Jones industrial average was up 0.96 percent at 17,087.43, the S&P 500 was up 1.09 percent at 2,015.89 and the Nasdaq Composite was up 1.29 percent at 4,844.606.
** CITIGROUP INC, $52.9, +4.30 pct
The No.3 U.S. bank by assets reported a 51 percent jump in quarterly profit as lower costs more than made up for a fall in revenue amid increased market volatility and uncertainty about the timing of a U.S. interest rate hike.
** HCA HOLDINGS INC, $72.09, -5.17 pct
** TENET HEALTHCARE CORP, $34.27, -2.20 pct
** COMMUNITY HEALTH SYSTEMS INC, $40.59, -2.62 pct
** UNIVERSAL HEALTH SERVICES INC, $124.77, -1.20 pct
** LIFEPOINT HEALTH INC, $70.55, -4.05 pct
** UNITEDHEALTH GROUP INC, $119.91, -1.77 pct
HCA, the largest for-profit U.S. hospital operator, estimated third-quarter profit that fell short of analysts’ expectation, hurt by higher labor costs and less favorable payer mix.
The weak estimate also weighed on shares of its peers. UnitedHealth, the largest U.S. health insurer, was also down.
** TRANSITION THERAPEUTICS INC, $2.11, +9.33 pct
The drug developer said its experimental drug reduced severe agitation and aggression in Alzheimer’s patients, citing data from a large study.
** BOFI HOLDING INC, $116.62, +17.64 pct
The bank holding company’s management terms allegations made by a former auditor as “baseless and factually inaccurate”. The lawsuit alleges the company violated federal laws that seek to protect whistle-blowers, the New York Times reported on Tuesday. DA Davidson and Sandler O’Neill upgraded the stock to “buy”, citing a big drop in share price and the company’s growth prospects.
** UNIVERSAL FOREST PRODUCTS INC, $70.1501, +14.92 pct
The building products maker reported a better-than-expected third quarter profit, helped by higher sales in its retail and industrial markets. The company’s sales rose 6.8 percent to $762.3 million.
** SUPERNUS PHARMACEUTICALS INC, $15.995, +14.74 pct
** ENDO INTERNATIONAL PLC, $66.13, +1.83 pct
Drug developer Supernus settled a patent litigation on its epilepsy treatment Trokendi XR with generics drugmaker Par Pharmaceutical, which was acquired by Endo International this year. Par would sell generic version of the treatment from April 1, 2025.
** MARRIOTT VACATIONS WORLDWIDE CORP, $64.18, -13.47 pct
The owner of Marriott Vacation Club reported a third-quarter profit below analysts’ estimate due to afall in contract sales in North America, Asia Pacific and Europe.
** KERYX BIOPHARMACEUTICALS INC, $3.9669, +6.07 pct
The drugmaker said it would reduce expenses by $87-$92 million in 2016. The company also signed a $125 million private placement deal with funds managed by the Baupost Group LLC.
** DEXCOM INC, $83.8101, +18.63 pct
The medical device maker estimated third-quarter preliminary revenue of $105 million while analysts expected $97.5 million. The company said preliminary revenue was up 52 percent from year ago. The company is set to post 12th straight quarter of more than 50 percent revenue growth.
** IMPRIVATA INC, $11.4, -34.14 pct
The healthcare IT security company on Wednesday estimated third-quarter revenue below market expectations. The company also sees a bigger-than-expected adjusted loss.
** MANITOWOC CO INC, $14.53, -11.19 pct
The crane maker estimated third-quarter sales below analysts’ expectations, hurt by lower-than-expected tower and crawler crane shipment. “... Cranes segment continued to be negatively impacted by a deteriorating demand environment, particularly in the Middle East and Asia,” Manitowoc said.
** SEAGATE TECHNOLOGY PLC, $41.28, -13.64 pct
The hard disk drive maker estimated first-quarter revenue and gross margin to fall short of forecast. The company said gross margin would be lower than expected due to weak inter-quarter demand for 4TB and 6TB HDD nearline products.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $166.98, -5.82 pct
The Canadian drugmaker, under fire for price increases of its two heart drugs, said it was subpoenaed by U.S. prosecutors on its pricing, drug distribution and patient assistance programs.
** NETFLIX INC, $101.34, -8.07 pct
The video-streaming service provider reported third-quarter U.S. subscriber additions below its own forecast, blaming a transition to chip-based cards for the miss.
** BRISTOL-MYERS SQUIBB CO, $63.31, +1.98 pct
** FIVE PRIME THERAPEUTICS INC, $27.77, +64.22 pct
Drugmaker Bristol-Myers Squibb said it agreed to exclusively license and collaborate with Five Prime to develop and commercialize Five Prime’s antibody program in the treatment of cancer.
** UNILEVER PLC, $44.82, +3.97 pct
The consumer goods maker reported better-than-expected third-quarter sales, but said sluggish markets globally continued to weigh on its performance.
** NIKE INC, $128.64, +2.23 pct
The world’s largest sportswear maker’s revenue is set to grow faster over the next five years than it had in the previous five. Nike said it expects revenue to increase 63 percent to $50 billion by fiscal 2020, boosted by growth in its e-commerce, women’s and Jordan brand businesses.
** BIODELIVERY SCIENCES INTERNATIONAL INC, $6.365, +4.69 pct
The drugmaker said the FDA approved a change in manufacturing specification for Bunavail, allaying concerns about impact to supply of the drug that controls dependence on opioids. The approval permits for the immediate release of Bunavail to wholesalers.
** ALAMOS GOLD INC, $4.79, -3.82 pct
Alamos, which already owns 19 percent of Canadian gold and silver miner Carlisle Goldfields Ltd, to buy out company for about $22.1 million. Excluding Alamos warrants, Carlisle shareholders to get 60 Canadian cents per share, which represents a premium of 62 percent to Carlisle’s Wednesday close.
** HORIZON PHARMA PLC, $17.94, -3.60 pct
The drugmaker filed a proxy statement with the Securities and Exchange Commission relating to an extraordinary general meeting of its shareholders. The purpose of the meeting, which is scheduled for Nov. 13, is to approve the issuance of Horizon’s shares relating to its proposed acquisition of Depomed Inc.
** SAREPTA THERAPEUTICS INC, $27.68, -4.75 pct
** BIOMARIN PHARMACEUTICAL INC, $109.75, +5.76 pct
BioMarin’s DMD drug will likely get approved two months before Sarepta’s. Sarepta said the FDA set Feb. 26 as deadline for decision on the marketing application of its Duchenne muscular dystrophy (DMD) drug. BioMarin said the regulator set Dec. 27 as deadline for decision on approval of its DMD drug.
** STONE ENERGY CORP, $6.82, +2.56 pct
** WPX ENERGY INC, $8.43, -1.98 pct
** NOBLE CORP PLC, $12.14, -1.06 pct
** BASIC ENERGY SERVICES INC, $4.21, -4.10 pct
** SASOL LTD, $32.44, -1.58 pct
** CONOCOPHILLIPS, $54.7, -0.04 pct
** CHEVRON CORP, $89.86, +0.11 pct
** PETROBRAS, $4.95, -1.59 pct
** ENSCO PLC, $16.65, -1.07 pct
** ATWOOD OCEANICS INC, $17.4, +0.00 pct
** ROWAN COS PLC, $19.91, -0.50 pct
Oil and gas companies’ shares fell as crude prices declined. Oil prices fell more than 2 percent after the U.S. government reports a larger-than-expected crude stockpile build, although a big drawdown in gasoline helped limit some of the market’s downside. Brent was at $48.55/barrel and U.S. crude at $45.96/barrel at 12:40 p.m. ET. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Maju Samuel)