October 19, 2015 / 3:12 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Casino operators, Dehaier, Great Lakes

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U.S. stocks opened lower on Monday after a swathe of weak results led by Morgan Stanley and Halliburton. Dow Jones industrial average futures were down 0.18 percent at 17,084, S&P 500 futures were down 0.21 percent at 2,021.25 and Nasdaq 100 futures were up 0.11 percent at 4,439.5.

** MORGAN STANLEY, $31.9, -6.04 pct

The Wall Street bank reported a quarterly profit that fell far short of market expectations, capping a generally downbeat quarter for big U.S. banks after investors fled the bond, currency and commodity markets.

** HALLIBURTON CO, $37.1, -1.88 pct

The world’s No.2 oilfield services provider reported a bigger-than-expected 36 percent drop in quarterly revenue, hurt by weak drilling activity and pricing in North America.


Talk-show host and media magnate Oprah Winfrey is buying a 10 percent stake in the company in a vote of confidence for a company that is helping her and millions of others lose weight.

** MICROSEMI CORP, $35.134, -5.96 pct

** PMC-SIERRA INC, $11.65, +13.77 pct

Microsemi offered to buy PMC-Sierra in deal valued at about $2.2 billion, trumping Skyworks Solutions Inc’s offer of $2 billion.

** GREAT LAKES DREDGE & DOCK CORP, $4.29, -19.51 pct

The dredging service provider withdrew full-year adjusted EBITDA forecast, citing unanticipated project losses, delays and lower-than-expected business in its environmental & remediation business during the third quarter. The company’s board will review strategic alternatives and Chief Executive Jonathan Berger said last week he would quit by April 13, 2017.

** HASBRO INC, $72.17, -7.21 pct

Revenue from girls’ toy business declined 28 percent for the toymaker; a record drop for four straight quarters. Popular girls’ toys such as Furby and My Little Pony saw weak sales.

** GENOCEA BIOSCIENCES INC, $5.29, -26.83 pct

The immunotherapy developer said it would suspend clinical trial after its experimental pneumonia vaccine failed to meet main goal in a mid-stage study.

** WYNN RESORTS LTD, $68.505, -6.03 pct


** LAS VEGAS SANDS CORP, $48.01, -3.44 pct

** MGM RESORTS INTERNATIONAL, $21.09, -2.13 pct

U.S. casino operators had been pressured by a decline in profit at Chinese industrial companies and recent yuan devaluation. China’s quarterly economic growth dipped below 7 percent for the first time since global financial crisis in the third quarter, hurt partly by cooling investment.

** DEHAIER MEDICAL SYSTEMS LTD, $2.08, +46.48 pct

Beijing-based medical device maker won medical device distribution bid funded by China Development Bank Corp . It would provide X-Ray machine and defibrillator monitor to Dongsheng Hospital of Ordos, Inner Mongolia.


The Canadian drugmaker which is under fire for massive price hikes of its two heart drugs, reported a better-than-expected quarterly profit, boosted mainly by strong performance in its U.S. dermatology business.

** BP PLC, $34.87, -2.76 pct

The company and China’s CNPC will next week unveil a strategic alliance to develop oil resources in Iraq and other regions, industry sources said on Friday, as Britain and China seek to tighten economic ties.

** ZAFGEN INC, $11.07, +6.85 pct

U.S. FDA placed partial hold on development of the drug developer’s obesity treatment and confirmed that the patient who died during a late-stage study had been taking the drug, beloranib.

** CAMPUS CREST COMMUNITIES INC, $6.64, +16.90 pct

The student housing real estate investment trust said it agreed to be bought by privately held Harrison Street Real Estate Capital LLC for $1.9 billion, including debt. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)

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