October 23, 2015 / 3:41 PM / 3 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Alphabet, Fortinet, Whirlpool, Merit Medical

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All three major U.S. indexes rose to two-month highs on Friday, after an unexpected rate cut in China amplified a rally driven by strong results from Microsoft, Alphabet and Amazon. The Dow Jones industrial average was up 0.41 percent at 17,561.35, the S&P 500 was up 0.59 percent at 2,064.64 and the Nasdaq Composite was up 1.70 percent at 5,003.912.

** ALPHABET INC, $733.8225, +7.73 pct

** FACEBOOK INC, $100.63, +0.96 pct

** MICROSOFT CORP, $52.9301, +10.20 pct

** AMAZON.COM INC, $604.34, +7.17 pct

Google parent Alphabet, Microsoft and Amazon.com made headway in the latest quarter in the areas that will be their main engines of growth for years to come, driving up shares across the tech sector on Friday.

Facebook’s shares also rose after Alphabet’s strong results.

** PANDORA MEDIA INC, $12.87, -32.93 pct

The provider of music streaming services reported a bigger quarterly loss as content acquisition costs nearly doubled.

** SKECHERS USA INC, $30.18, -34.66 pct

The sports footwear maker and retailer’s revenue missed analysts’ estimates as a strong dollar reduced the value of international sales.


A shareholder class action lawsuit was filed against Valeant after influential shortseller Citron Research alleged the Canadian drugmaker used specialty pharmacies to create “phantom sales”.

** MERIT MEDICAL SYSTEMS INC, $19.55, -18.88 pct

The medical device maker reported weaker-than-expected third quarter revenue, profit, hurt by higher costs.


The biotechnology company said the U.S. FDA declined to approve its Evomela injection to treat patients with multiple myeloma, a form of blood cancer that arises from plasma cells found in bone marrow.

** FORTINET INC, $34.309, -20.65 pct

At least 8 brokerages cut price target on the security software maker’s stock after the company reported third-quarter revenue only slightly above estimates on Thursday.

** KELLOGG CO, $71.6, -0.57 pct

** DIAMOND FOODS INC, $34.41, +4.81 pct

Corn Flakes maker Kellogg is in late-stage talks to buy snack foods company Diamond Foods for more than $1.5 billion, the New York Post reported, citing sources.

** WHIRLPOOL CORP, $143.09, -10.46 pct

The world’s largest home appliances maker revised its expectations for 2015 EPS and lowered its planned capital spending, but posted higher-than-expected third quarter earnings.


The U.S. Food and Drug Administration on Thursday approved the company’s pancreatic cancer drug, Onivyde, with a severe safety warning.

** PROCTER & GAMBLE CO, $77.15, +3.07 pct

The company reported its biggest drop in quarterly sales in seven quarters, hurt by weak demand across product categories and a strong dollar.

** LEXMARK INTERNATIONAL INC, $35.06, +6.63 pct

The printer maker said it was exploring strategic alternatives and had hired Goldman Sachs Inc to advise it on the process.

** TREEHOUSE FOODS INC, $87.03, +3.34 pct

** CONAGRA FOODS INC, $41.31, -2.55 pct

TreeHouse is in advanced talks to acquire Ralcorp, the private label business of ConAgra Foods, in a deal that could be valued between $2.5 billion and $2.7 billion, according to people familiar with the matter.

** GNC HOLDING INC, $34.99, +1.42 pct

The nutritional products retailer sold dietary supplements containing two illegal synthetic drugs in the United States, Oregon’s attorney general alleged in a lawsuit.


United Airlines on Thursday tried to dismiss concerns that executive shake-ups have left an amateur team running its business, promising better service for travelers and moderate expansion in 2016 for investors worried about weak demand.

** ABBVIE INC, $50.33, +4.27 pct

U.S. health regulators on Thursday issued a warning of potential risk of serious liver injury for certain patients using the company’s hepatitis C treatments, Viekira Pak and Technivie.

** AUTOLIV INC, $120.38, +2.91 pct

The auto safety gear maker reported third quarter core earnings that narrowly beat market expectations on Friday and said it expected like-for-like sales to grow around 7 percent this year.

** ROYAL CARIBBEAN CRUISES LTD, $97.8, +3.27 pct

The world’s second-largest cruise operator by revenue reported a 5.4 percent rise in quarterly revenue, helped by higher onboard spending and a rise in bookings for its Caribbean and European cruises.

** TENET HEALTHCARE CORP, $28.82, +2.05 pct

The hospital operator reaffirmed its third-quarter adjusted EBITDA outlook of $550-$600 million. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)

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